MARKET BRIEFING – LONDON OPEN 07.04.2015
EURUSD
The intraday technical outlook
Overnight EURUSD moved lower on technical trading.
However following Monday’s strong performance in US indices the outlook for today at least looks to remain “Risk On”.
I am this morning monitoring the price action at the 1.0900 and 1.0950 levels.
A break above or beneath these levels could potentially signal the direction of prices.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0725 level.
GBPUSD
The intraday technical outlook
As posted yesterday the breach of the the 1.4885 resistance level. has technically changed the trend from down to up.
I am this morning monitoring the price action for a test of the 1.5000 resistance level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.4800 level.
USDJPY
The intraday technical outlook
Yesterday’s move above the 119.00 led to the price action trading above the prior swing high.
Technically this has changed the trend from down to up.
This morning I am monitoring the price action as it tests the 120.00 resistant level.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 118.75 level.
USDCHF
The intraday technical outlook
Yesterday’s move above the 0.9550 led to the price action trading above the prior swing high.
Technically this has changed the trend from down to up.
This morning I am monitoring the price action as it tests the 0.9600 resistant level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level.
AUDUSD
The intraday technical outlook
This mornings RBA rate decision caused AUDUSD to spike higher.
The move above the 0.7650 led to the price action trading above the prior swing high.
Technically this has changed the trend from down to up.
This morning I am monitoring the price action as it tests the 0.7700 resistant level.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7575 level.
GOLD
The intraday technical outlook
Gold yesterday traded lower and has now partially field Mondays gap.
I am this morning monitoring the price action for a retest of the the 1221.00 resistance level.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1195.00 level.
OIL
The intraday technical outlook
Yesterday Oil traded higher and broke through the 50.50 level.
As posted previously the breach of the 48.50 area which coincides with the prior isolated 1 hour high.
This move has resulted in the the trend changing from down to up.
This morning I am monitoring the price action for a retest of the 52.50 level
From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 48.00 level.
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