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London Open Intra Day Analysis 03.09.2014

The London open







EURUSD



Time frame: 1 hour
Trend: Up
Outlook: The layered moving averages have just turned positive
Probable scenario: Awaiting long set up
Alternate scenario: Short beneath 1.3121
Intraday levels: Open: 1.3132, R1 1.3157, R2 1.3182, S1 1.3107, S2 1.3082




GBPUSD



Time frame: 1 hour
Trend: Down
Outlook: GBPUSD is trading back up to the negatively layered moving averages
Probable scenario: Short beneath 1.6444
Alternate scenario: Awaiting long set up
Intraday levels: Open: 1.6467, R1 1.6503, R2 1.6538, S1 1.6432, S2 1.6397




USDJPY



Time frame: 1 hour
Trend: Up
Outlook: USDJPY is trading back down to the positively layered moving averages
Probable scenario: Long above 105.31
Alternate scenario: Awaiting short set up
Intraday levels: Open: 105.10, R1 105.35, R2 105.60, S1 104.85, S2 104.60




USDCHF



Time frame: 1 hour
Outlook: Down
Price action: USDCHF is trading back up to the negatively layered moving averages
Probable scenario: Awaiting short set up
Alternate scenario: Long above 0.9200
Intraday levels: Open: 0.9190, R1 0.9209, R2 0.9228, S1 0.9171, S2 0.9152