MARKET BRIEFING – LONDON OPEN 27.04.2015
Posted: Mon Apr 27, 2015 11:09 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 27.04.2015
EURUSD
The intraday technical outlook
Friday EURUSD traded higher however the price action became very erratic.
This morning I am monitoring the price action for a test of the 1.0900 resistance level.
Alternatively a failure to breach this level could see EURUSD trade back down to the 1.0800 support level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0800 level.
GBPUSD
The intraday technical outlook
GBPUSD spiked higher on Friday as it continued to trade above it large down channel.
The move higher over the past two weeks has put GBPUSD within touching distance of the 1.5350 area.
This area coincides with a prior broken multiple year converging triangle formation.
I am this morning I am monitoring the price action for a test of the 1.5250 resistance level.
Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5100 support level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5150 level.
USDJPY
The intraday technical outlook
Friday’s move under the 119.30 level has technically changed the trend from up to down.
This morning I am monitoring the price action for a retest of the 118.80 support level.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.30 resistance level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.10 level.
USDCHF
The intraday technical outlook
Following Thursday’s collapse USDCHF consolidated above the 0.9500 support level.
This morning I am monitoring the price action for a retest of the 0.9500 support level.
Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9600 resistance level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level
AUDUSD
The intraday technical outlook
Friday AUDUSD tested the 0.7840 resistance level.
This morning I am monitoring the price action for a retest of the 0.7840 resistance level.
Alternatively a failure to breach this level could see AUDUSD trade back down to the 0.7805/7800 support level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7700 level
GOLD
The intraday technical outlook
Friday Gold retested and broke through the 1184.15 support level.
I am this morning monitoring the price action for a move in the direction of the large channel bottom in the 1162.00 area.
Alternatively a failure to trade lower could see Gold retest the 1184.15 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1198.05 level.
OIL
The intraday technical outlook
Oil has traded in a 55.70 to 58.75 range for the past few days.
I am this morning monitoring the price action for a test of the 58.75 / 59.000 resistance level.
Alternatively a failure to sustain lower prices could see Oil test the 55.50 support level.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 55.70 level.
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MARKET BRIEFING – LONDON OPEN 27.04.2015
EURUSD
The intraday technical outlook
Friday EURUSD traded higher however the price action became very erratic.
This morning I am monitoring the price action for a test of the 1.0900 resistance level.
Alternatively a failure to breach this level could see EURUSD trade back down to the 1.0800 support level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0800 level.
GBPUSD
The intraday technical outlook
GBPUSD spiked higher on Friday as it continued to trade above it large down channel.
The move higher over the past two weeks has put GBPUSD within touching distance of the 1.5350 area.
This area coincides with a prior broken multiple year converging triangle formation.
I am this morning I am monitoring the price action for a test of the 1.5250 resistance level.
Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5100 support level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5150 level.
USDJPY
The intraday technical outlook
Friday’s move under the 119.30 level has technically changed the trend from up to down.
This morning I am monitoring the price action for a retest of the 118.80 support level.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.30 resistance level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.10 level.
USDCHF
The intraday technical outlook
Following Thursday’s collapse USDCHF consolidated above the 0.9500 support level.
This morning I am monitoring the price action for a retest of the 0.9500 support level.
Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9600 resistance level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level
AUDUSD
The intraday technical outlook
Friday AUDUSD tested the 0.7840 resistance level.
This morning I am monitoring the price action for a retest of the 0.7840 resistance level.
Alternatively a failure to breach this level could see AUDUSD trade back down to the 0.7805/7800 support level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7700 level
GOLD
The intraday technical outlook
Friday Gold retested and broke through the 1184.15 support level.
I am this morning monitoring the price action for a move in the direction of the large channel bottom in the 1162.00 area.
Alternatively a failure to trade lower could see Gold retest the 1184.15 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1198.05 level.
OIL
The intraday technical outlook
Oil has traded in a 55.70 to 58.75 range for the past few days.
I am this morning monitoring the price action for a test of the 58.75 / 59.000 resistance level.
Alternatively a failure to sustain lower prices could see Oil test the 55.50 support level.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 55.70 level.
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