MARKET BRIEFING – LONDON OPEN 07.05.2015
Posted: Thu May 07, 2015 7:49 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 07.05.2015
EURUSD
The intraday technical outlook
Wednesday EURUSD closed at its highs and this positive momentum has continued into the mornings trading.
This morning I am monitoring the price action for a test of the 1.1350 resistance area.
Alternatively a failure to sustain a move higher prices could see EURUSD retest the 1.1285 level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.
GBPUSD
The intraday technical outlook
Wednesday GBPUSD traded higher however this morning has opened some what negatively.
This morning I am monitoring the price action for a test of the 1.5150 level.
Alternatively a failure to trade lower could see GBPUSD re-test the 1.5250 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
Wednesday USDJPY traded lower but has found support at the 119.40 level.
This morning I am monitoring the price action for a test of the 119.40 level.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 support level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.50 level.
USDCHF
The intraday technical outlook
Wednesday USDCHF traded lower but eventually found support above the 0.9100 area.
This morning I am monitoring the price action for a test of the 0.9100 level.
Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9270 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9385 level.
AUDUSD
The intraday technical outlook
Wednesday AUDUSD closed higher on the day but was however unable to hold onto most of its gains.
This morning I am monitoring the price action for a re-test of the broken up channel.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7925 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7925 level.
GOLD
The intraday technical outlook
Wednesday Gold experienced a indifferent days trading however this morning a negative bias has entered the market.
This morning I am monitoring the price action for a test of the 1182.00 level.
Alternatively a failure to trade lower could see Gold re-test the 1192.00 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
Wednesday Oil initially spiked higher but found resistance at the 62.50 level and gave up all its gains.
This morning monitoring the price action for a test of the 60.00 level.
Alternatively a failure to trade lower could see Oil re-test yesterdays highs.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.
MORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 07.05.2015
EURUSD
The intraday technical outlook
Wednesday EURUSD closed at its highs and this positive momentum has continued into the mornings trading.
This morning I am monitoring the price action for a test of the 1.1350 resistance area.
Alternatively a failure to sustain a move higher prices could see EURUSD retest the 1.1285 level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.
GBPUSD
The intraday technical outlook
Wednesday GBPUSD traded higher however this morning has opened some what negatively.
This morning I am monitoring the price action for a test of the 1.5150 level.
Alternatively a failure to trade lower could see GBPUSD re-test the 1.5250 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
Wednesday USDJPY traded lower but has found support at the 119.40 level.
This morning I am monitoring the price action for a test of the 119.40 level.
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 support level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.50 level.
USDCHF
The intraday technical outlook
Wednesday USDCHF traded lower but eventually found support above the 0.9100 area.
This morning I am monitoring the price action for a test of the 0.9100 level.
Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9270 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9385 level.
AUDUSD
The intraday technical outlook
Wednesday AUDUSD closed higher on the day but was however unable to hold onto most of its gains.
This morning I am monitoring the price action for a re-test of the broken up channel.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7925 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7925 level.
GOLD
The intraday technical outlook
Wednesday Gold experienced a indifferent days trading however this morning a negative bias has entered the market.
This morning I am monitoring the price action for a test of the 1182.00 level.
Alternatively a failure to trade lower could see Gold re-test the 1192.00 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
Wednesday Oil initially spiked higher but found resistance at the 62.50 level and gave up all its gains.
This morning monitoring the price action for a test of the 60.00 level.
Alternatively a failure to trade lower could see Oil re-test yesterdays highs.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.
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