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London Open Intra Day Analysis 08.08.2014

The London open





EURUSD



Time frame: 1 hour
Trend: Down
Outlook: The price action is correcting up towards the negatively layered moving averages
Probable scenario: Short beneath 1.3343
Alternate scenario: Long above 1.3366
Intraday levels: Open: 1.3362, R1 1.3385, R2 1.3409, S1 1.3338, S2 1.3314



GBPUSD



Time frame: 1 hour
Trend: Down
Outlook: GBPUSD is trading lower and away from negatively layered moving averages
Probable scenario: Awaiting short set up
Alternate scenario: Long above 1.6837
Intraday levels: Open: 1.6832, R1 1.6861, R2 1.6890, S1 1.6802, S2 1.6773



USDJPY



Time frame: 1 hour
Trend: Down
Outlook: USDJPY is trading lower and away from negatively layered moving
Probable scenario: Awaiting short set up
Alternate scenario: Awaiting long set up
Intraday levels: Open: 102.07, R1 102.30, R2 102.53, S1 101.84, S2 101.62



USDCHF



Time frame: 1 hour
Outlook: Down
Price action: USDCHF is trading lower and away from negatively layered moving averages
Probable scenario: Short beneath 0.9069
Alternate scenario: Long above 0.9098
Intraday levels: Open: 0.9088, R1 0.9106, R2 0.9125, S1 0.9070, S2 0.9051