MARKET BRIEFING – LONDON OPEN 14.05.2015
Posted: Thu May 14, 2015 10:23 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 14.05.2015
EURUSD
The intraday technical outlook
Wednesday EURUSD continued to trade higher.
This morning I am monitoring the price action for a test of the 1.1450 level.
Alternatively a failure to sustain a move higher prices could see EURUSD re-test 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 1.1200 level
GBPUSD
The intraday technical outlook
Wednesday GBPUSD continues to trade higher.
This morning I am monitoring the price action for a test of the 1.5800 level which coincides with a prior area of strong resistance.
Alternatively a failure to trade higher could see GBPUSD re-test the 1.5650 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5550 level.
USDJPY
The intraday technical outlook
Wednesday USDJPY continued to trade lower as the price action slash through multiple support levels.
This morning I am monitoring the price action for a test of the 118.80
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.30 level.
USDCHF
The intraday technical outlook
Wednesday USDCHF traded lower following its failure to test its channel top.
This morning I am monitoring the price action for a test of the 0.9110 level.
Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9180 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9295 level.
AUDUSD
The intraday technical outlook
Wednesday AUDUSD traded higher for most of the day.
This morning I am monitoring the price action for a re-test of this mornings highs.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.8050 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level
GOLD
The intraday technical outlook
Wednesday Gold broke higher from the previous days tight range.
This morning I am monitoring the price action for a test of the 1222.00 level.
Alternatively a failure to trade higher could see Gold re-test the 1209.00 level.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1182.00 level.
OIL
The intraday technical outlook
Wednesday Oil traded higher but failed to penetrate back into its up channel. This led to a strong downward correction.
This morning monitoring the price action for a bounce off the 60.00 area.
Alternatively a failure to trade higher could see Oil re-test the 59.00 level.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 59.00 level.
MORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 14.05.2015
EURUSD
The intraday technical outlook
Wednesday EURUSD continued to trade higher.
This morning I am monitoring the price action for a test of the 1.1450 level.
Alternatively a failure to sustain a move higher prices could see EURUSD re-test 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 1.1200 level
GBPUSD
The intraday technical outlook
Wednesday GBPUSD continues to trade higher.
This morning I am monitoring the price action for a test of the 1.5800 level which coincides with a prior area of strong resistance.
Alternatively a failure to trade higher could see GBPUSD re-test the 1.5650 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5550 level.
USDJPY
The intraday technical outlook
Wednesday USDJPY continued to trade lower as the price action slash through multiple support levels.
This morning I am monitoring the price action for a test of the 118.80
Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 level.
From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.30 level.
USDCHF
The intraday technical outlook
Wednesday USDCHF traded lower following its failure to test its channel top.
This morning I am monitoring the price action for a test of the 0.9110 level.
Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9180 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9295 level.
AUDUSD
The intraday technical outlook
Wednesday AUDUSD traded higher for most of the day.
This morning I am monitoring the price action for a re-test of this mornings highs.
Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.8050 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level
GOLD
The intraday technical outlook
Wednesday Gold broke higher from the previous days tight range.
This morning I am monitoring the price action for a test of the 1222.00 level.
Alternatively a failure to trade higher could see Gold re-test the 1209.00 level.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1182.00 level.
OIL
The intraday technical outlook
Wednesday Oil traded higher but failed to penetrate back into its up channel. This led to a strong downward correction.
This morning monitoring the price action for a bounce off the 60.00 area.
Alternatively a failure to trade higher could see Oil re-test the 59.00 level.
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 59.00 level.
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