MARKET BRIEFING – LONDON OPEN 20.05.2015
Posted: Wed May 20, 2015 7:55 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 20.05.2015
EURUSD
The intraday technical outlook
Tuesday EURUSD lost further ground as it broke down through multiple support levels.
This morning I am monitoring the price action for a test of the 1.1050 level.
Alternatively a failure to sustain a move lower prices could see EURUSD re-test the 1.1200 level.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1465 level
GBPUSD
The intraday technical outlook
Tuesday GBPUSD tested and broke through its channel bottom.
This morning I am monitoring the price action for a test of the 1.5450 level.
Alternatively a failure to trade lower could see GBPUSD re-test the 1.5550 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5800 level.
USDJPY
The intraday technical outlook
Tuesday USDJPY traded higher following its break out from its down channel.
This morning I am monitoring the price action for a test of the 121.00 level.
Alternatively a failure to trade higher could see USDJPY trade back down to the 120.50 level.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 119.90 level.
USDCHF
The intraday technical outlook
Tuesday USDCHF traded higher following its break out from its down channel.
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 0.9340 level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9250 level.
AUDUSD
The intraday technical outlook
Tuesday AUDUSD continued to trade lower following its break down from its channel bottom.
This morning I am monitoring the price action for a test 0.7875 level.
Alternatively a failure to trade lower could see AUDUSD test the 0.7950 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8000 level.
GOLD
The intraday technical outlook
Tuesday Gold broke through its down channel.
This morning I am monitoring the price action for a test of the 1204.70.
Alternatively a failure to trade lower could see Gold re-test the 1212.40 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1232.20 level
OIL
The intraday technical outlook
Tuesday Oil continued to trade lower.
This morning monitoring the price action for a test off the 57.85 area.
Alternatively a failure to trade lower could see Oil re-test the 59.00 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.65 level.
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MARKET BRIEFING – LONDON OPEN 20.05.2015
EURUSD
The intraday technical outlook
Tuesday EURUSD lost further ground as it broke down through multiple support levels.
This morning I am monitoring the price action for a test of the 1.1050 level.
Alternatively a failure to sustain a move lower prices could see EURUSD re-test the 1.1200 level.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1465 level
GBPUSD
The intraday technical outlook
Tuesday GBPUSD tested and broke through its channel bottom.
This morning I am monitoring the price action for a test of the 1.5450 level.
Alternatively a failure to trade lower could see GBPUSD re-test the 1.5550 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5800 level.
USDJPY
The intraday technical outlook
Tuesday USDJPY traded higher following its break out from its down channel.
This morning I am monitoring the price action for a test of the 121.00 level.
Alternatively a failure to trade higher could see USDJPY trade back down to the 120.50 level.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 119.90 level.
USDCHF
The intraday technical outlook
Tuesday USDCHF traded higher following its break out from its down channel.
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 0.9340 level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9250 level.
AUDUSD
The intraday technical outlook
Tuesday AUDUSD continued to trade lower following its break down from its channel bottom.
This morning I am monitoring the price action for a test 0.7875 level.
Alternatively a failure to trade lower could see AUDUSD test the 0.7950 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8000 level.
GOLD
The intraday technical outlook
Tuesday Gold broke through its down channel.
This morning I am monitoring the price action for a test of the 1204.70.
Alternatively a failure to trade lower could see Gold re-test the 1212.40 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1232.20 level
OIL
The intraday technical outlook
Tuesday Oil continued to trade lower.
This morning monitoring the price action for a test off the 57.85 area.
Alternatively a failure to trade lower could see Oil re-test the 59.00 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.65 level.
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