MARKET BRIEFING – LONDON OPEN 27.05.2015
Posted: Wed May 27, 2015 8:51 amMORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 27.05.2015
EURUSD
The intraday technical outlook
EURUSD has slightly revived this morning, after a slide it experienced since last Friday.
The price action has not managed to breach 1.0850 support, retracing higher and likely to retest the 1.1050 resistance, coinciding with the upper border of the downward trend channel.
Alternatively a failure to sustain a move higher, we could see EURUSD to move towards 1.8000 support.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1180 level
GBPUSD
The intraday technical outlook
GBPUSD has also retraced this morning.
Today we are monitoring the price action for a test of the 1.5450 level.
Alternatively a failure to sustain a higher prices could see GBPUSD to retest the 1.5350 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5700 level.
USDJPY
The intraday technical outlook
USDJPY has returned to reconfirm the breach of the channel.
Today we are monitoring the price action to retest the return to the channel, alternatively the move higher towards 124.000 level could be seen.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 121.50 level.
USDCHF
The intraday technical outlook
USDCHF has retraced from the yesterday’s highs this morning, breaching 0.9490 support.
Today we are monitoring the price action to test 0.9410 support, which also coincides with the lower border of the uptrend channel.
Alternatively a failure to sustain lower prices could see USDCHF to retest the previous high of 0.9535.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9400 level.
AUDUSD
The intraday technical outlook
AUDUSD has stabilized today, after a sharp move lower during the previous week.
This morning we are monitoring the price action to test the upper border of the downward trend channel.
Alternatively a failure to sustain a move higher could see AUDUSD test the 0.7720 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7840 level.
GOLD
The intraday technical outlook
Gold has yesterday reached a two week low, declining to 1185.00 level.
Today we are monitoring the price action to test the upward side of the channel. Alternatively, the failure to sustain the higher prices could see the precious metal to slide to 1184.00
From a technical perspective Gold is trading in an intraday 1 down up trend with the line of control at the 1212.40 level.
OIL
The intraday technical outlook
Today Oil has retraced from this month lows as it reached 57.70 level yesterday.
Currently we are monitoring the price action to test 59.10 resistance level.
Alternatively a failure to sustain a move higher could see the commodity to slide lower towards 56.50 support.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.80 level.
MORE ON ACFXblog.com
MARKET BRIEFING – LONDON OPEN 27.05.2015
EURUSD
The intraday technical outlook
EURUSD has slightly revived this morning, after a slide it experienced since last Friday.
The price action has not managed to breach 1.0850 support, retracing higher and likely to retest the 1.1050 resistance, coinciding with the upper border of the downward trend channel.
Alternatively a failure to sustain a move higher, we could see EURUSD to move towards 1.8000 support.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1180 level
GBPUSD
The intraday technical outlook
GBPUSD has also retraced this morning.
Today we are monitoring the price action for a test of the 1.5450 level.
Alternatively a failure to sustain a higher prices could see GBPUSD to retest the 1.5350 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5700 level.
USDJPY
The intraday technical outlook
USDJPY has returned to reconfirm the breach of the channel.
Today we are monitoring the price action to retest the return to the channel, alternatively the move higher towards 124.000 level could be seen.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 121.50 level.
USDCHF
The intraday technical outlook
USDCHF has retraced from the yesterday’s highs this morning, breaching 0.9490 support.
Today we are monitoring the price action to test 0.9410 support, which also coincides with the lower border of the uptrend channel.
Alternatively a failure to sustain lower prices could see USDCHF to retest the previous high of 0.9535.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9400 level.
AUDUSD
The intraday technical outlook
AUDUSD has stabilized today, after a sharp move lower during the previous week.
This morning we are monitoring the price action to test the upper border of the downward trend channel.
Alternatively a failure to sustain a move higher could see AUDUSD test the 0.7720 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7840 level.
GOLD
The intraday technical outlook
Gold has yesterday reached a two week low, declining to 1185.00 level.
Today we are monitoring the price action to test the upward side of the channel. Alternatively, the failure to sustain the higher prices could see the precious metal to slide to 1184.00
From a technical perspective Gold is trading in an intraday 1 down up trend with the line of control at the 1212.40 level.
OIL
The intraday technical outlook
Today Oil has retraced from this month lows as it reached 57.70 level yesterday.
Currently we are monitoring the price action to test 59.10 resistance level.
Alternatively a failure to sustain a move higher could see the commodity to slide lower towards 56.50 support.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.80 level.
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