MARKET BRIEFING – LONDON OPEN 15.04.2015
Posted: Wed Apr 15, 2015 8:00 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 15.04.2015
EURUSD
The intraday technical outlook
Disappointing US Retail Sales data sent EURUSD higher during yesterday’s afternoon trading.
The move higher however found initial resistance at the 1.0700 level.
This morning I am monitoring the price action for a retest of this level and a possible continuation of the move to the channel top which coincides with the 1.0750 level.
Alternatively a breach of this mornings low in the 1.0600 area could see EURUSD trade down to major support in the 1.0550 area.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.0700 level.
GBPUSD
The intraday technical outlook
GBPUSD continues to trade higher as it surged past the 1.4700.
The move above his level coincides with the prior isolated high technically changes the trend from down to up.
I am this morning monitoring the price action for a retest of the 1.4800 level
Alternatively a breach of the 1.4750 support level could see GBPUSD trade down to the 1.4650 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.4600 level.
USDJPY
The intraday technical outlook
USDJPY traded lower in afternoon trading.
The breach of the 120.00 level which coincides with the an isolated low has technically changed the trend from up to down.
The move lower has also slashed through channel support.
I am this morning monitoring the price action for a retest of the 119.50 level and a continuation of the move down to 119.00.
Alternatively a failure to sustain a move under the 119.50 level could see USDJPY retest the 120.00 level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.00 level.
USDCHF
The intraday technical outlook
USDCHF yesterday broke down from its up channel.
The breach of the 0.9770 level which coincides with the an isolated low has technically changed the trend from up to down.
I am this morning monitoring the price action for a retest of the 0.9700 level.
Alternatively a move above the 0.9750 resistance level could see USDCHF trade back up to the 0.9800 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9800 level.
AUDUSD
The intraday technical outlook
AUDUSD has experienced a choppy couple of sessions but remains above the 0.7550 support level.
The overnight data from China may add some downside pressure on AUDUSD.
I am this morning monitoring the prices action for tests of 0.7650 and 0.7550.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7550 level
GOLD
The intraday technical outlook
Gold yesterday broke under its 1192.00 support level.
The breach of this level which coincides with the an isolated low has technically changed the trend from up to down.
The price action has now formed a rather steep down channel.
I am this morning monitoring the price action for a move away from the 1192.00 support level and a possible test of the 1182.00 level.
Alternatively a bounce off the 1192 level could see Gold trade up to the 1209.00 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1209.00 level
OIL
The intraday technical outlook
Oil continues to add to its impressive gains and this morning is trading above last weeks high of 54.00.
I am this morning monitoring the price action for a continuation of the move higher.
Alternatively a failure to sustain higher prices could see Oil trade back down to its channel bottom.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 51.50 level.
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MARKET BRIEFING – LONDON OPEN 15.04.2015
EURUSD
The intraday technical outlook
Disappointing US Retail Sales data sent EURUSD higher during yesterday’s afternoon trading.
The move higher however found initial resistance at the 1.0700 level.
This morning I am monitoring the price action for a retest of this level and a possible continuation of the move to the channel top which coincides with the 1.0750 level.
Alternatively a breach of this mornings low in the 1.0600 area could see EURUSD trade down to major support in the 1.0550 area.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.0700 level.
GBPUSD
The intraday technical outlook
GBPUSD continues to trade higher as it surged past the 1.4700.
The move above his level coincides with the prior isolated high technically changes the trend from down to up.
I am this morning monitoring the price action for a retest of the 1.4800 level
Alternatively a breach of the 1.4750 support level could see GBPUSD trade down to the 1.4650 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.4600 level.
USDJPY
The intraday technical outlook
USDJPY traded lower in afternoon trading.
The breach of the 120.00 level which coincides with the an isolated low has technically changed the trend from up to down.
The move lower has also slashed through channel support.
I am this morning monitoring the price action for a retest of the 119.50 level and a continuation of the move down to 119.00.
Alternatively a failure to sustain a move under the 119.50 level could see USDJPY retest the 120.00 level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.00 level.
USDCHF
The intraday technical outlook
USDCHF yesterday broke down from its up channel.
The breach of the 0.9770 level which coincides with the an isolated low has technically changed the trend from up to down.
I am this morning monitoring the price action for a retest of the 0.9700 level.
Alternatively a move above the 0.9750 resistance level could see USDCHF trade back up to the 0.9800 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9800 level.
AUDUSD
The intraday technical outlook
AUDUSD has experienced a choppy couple of sessions but remains above the 0.7550 support level.
The overnight data from China may add some downside pressure on AUDUSD.
I am this morning monitoring the prices action for tests of 0.7650 and 0.7550.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7550 level
GOLD
The intraday technical outlook
Gold yesterday broke under its 1192.00 support level.
The breach of this level which coincides with the an isolated low has technically changed the trend from up to down.
The price action has now formed a rather steep down channel.
I am this morning monitoring the price action for a move away from the 1192.00 support level and a possible test of the 1182.00 level.
Alternatively a bounce off the 1192 level could see Gold trade up to the 1209.00 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1209.00 level
OIL
The intraday technical outlook
Oil continues to add to its impressive gains and this morning is trading above last weeks high of 54.00.
I am this morning monitoring the price action for a continuation of the move higher.
Alternatively a failure to sustain higher prices could see Oil trade back down to its channel bottom.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 51.50 level.
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