MARKET BRIEFING – LONDON OPEN 11.05.2015
Posted: Mon May 11, 2015 7:18 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 11.05.2015
EURUSD
The intraday technical outlook
Friday EURUSD continued to correct lower.
This morning I am monitoring the price action for a bounce off the mornings lows.
Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1050 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
Friday GBPUSD traded in erratic fashion for most of the day.
This morning I am monitoring the price action for a re-test of the 1.5495 / 1.5500 level.
Alternatively a failure to trade higher could see GBPUSD re-test the 1.5350 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5350 level.
USDJPY
The intraday technical outlook
Friday USDJPY experienced a volatile trading session.
Initially USDJPY spiked higher but was unable to make much headway above the 120.00 level.
What followed was a nasty collapse that was halted around the 119.75 level.
This morning I am monitoring the price action for a test of the 120.00 level.
Alternatively a failure to trade higher could see USDJPY trade back down 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 120.25 level.
USDCHF
The intraday technical outlook
Friday USDCHF continued to rally as the price action traded up to its channel top.
This morning I am monitoring the price action for a test of the 0.9385 level.
Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9270 level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9180 level
AUDUSD
The intraday technical outlook
Friday AUDUSD traded in volatile fashion as the price action stayed within a tight range.
This morning I am monitoring the price action for a test of the 0.7925 level.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7975 level.
GOLD
The intraday technical outlook
Friday Gold traded higher but found resistance at its channel top.
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
Friday Oil continued to trade under its channel bottom in what was volatile trading.
This morning monitoring the price action for a breach of the 60.00 level
Alternatively a failure to trade higher could see Oil re-test the 58.50 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.30 level
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MARKET BRIEFING – LONDON OPEN 11.05.2015
EURUSD
The intraday technical outlook
Friday EURUSD continued to correct lower.
This morning I am monitoring the price action for a bounce off the mornings lows.
Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1050 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
Friday GBPUSD traded in erratic fashion for most of the day.
This morning I am monitoring the price action for a re-test of the 1.5495 / 1.5500 level.
Alternatively a failure to trade higher could see GBPUSD re-test the 1.5350 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5350 level.
USDJPY
The intraday technical outlook
Friday USDJPY experienced a volatile trading session.
Initially USDJPY spiked higher but was unable to make much headway above the 120.00 level.
What followed was a nasty collapse that was halted around the 119.75 level.
This morning I am monitoring the price action for a test of the 120.00 level.
Alternatively a failure to trade higher could see USDJPY trade back down 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 120.25 level.
USDCHF
The intraday technical outlook
Friday USDCHF continued to rally as the price action traded up to its channel top.
This morning I am monitoring the price action for a test of the 0.9385 level.
Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9270 level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9180 level
AUDUSD
The intraday technical outlook
Friday AUDUSD traded in volatile fashion as the price action stayed within a tight range.
This morning I am monitoring the price action for a test of the 0.7925 level.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7975 level.
GOLD
The intraday technical outlook
Friday Gold traded higher but found resistance at its channel top.
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
Friday Oil continued to trade under its channel bottom in what was volatile trading.
This morning monitoring the price action for a breach of the 60.00 level
Alternatively a failure to trade higher could see Oil re-test the 58.50 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.30 level
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