MARKET BRIEFING – LONDON OPEN 10.04.2015
EURUSD
The intraday technical outlook
EURUSD spiked to the new monthly lows, as the U.S. Unemployment claims numbers came stronger than expected.
The pair is has formed downtrend channel since this Monday and since then is following it precisely, touching new monthly lows of 1.0620 this morning. 1.0600 level is to be targeted shortly before the likely downtrend resumption.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.0900 level.
GBPUSD
The intraday technical outlook
GBPUSD this morning has slided even further on the background of the disappointing U.K. trade balance numbers and stronger than expected U.S. Unemployment Claims report yesterday.
The pair has reached new lows of 1.4670 this morning, without any a hint for a reversal or retracement at the moment.
From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.4800 level
USDJPY
The intraday technical outlook
Last night the USDJPY has reached new highs of 120.72, on the backgorund of the further strenghtening U.S. currency
The pair is likely to retest 120.70 resistance level shortly. Alternatively 120.35 point will be traded, with subsequent target of the bottom of the channel and support of 120.00.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 119.50 level.
USDCHF
The intraday technical outlook
USDCHF continue the move higher, reaching new high of 0.9790 this morning.
In case 0.9800 level will be breached successfully, the pair will be likely to target 0.9870 resistance next.
Alternatively the support of 0.9750 might be again retested, before the pair returns to 0.9680 level.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9600 level
AUDUSD
The intraday technical outlook
AUDUSD has lost the momentum after strengthening for for a week.
The pair is still trading within the upward channel, however the short term head and shoulders pattern might indicate that reversal is to follow.
The closest support to be traded is of 0.7650. Alternatively, 0.7750 could be tested again.
From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7650 level.
GOLD
The intraday technical outlook
After breaking the upward trend channel the Gold price is consolidating below 1200.00 region.
If the breach of 1195.00 is unsuccessful, 1209.00 resistance level is the next likely point the Gold will be testing, before deciding on the move further.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1215.00 level.
OIL
The intraday technical outlook
Oil has broken the upward trend channel and continues to move lower towards 49.80 support this morning.
The move is likely to head towards 49.00 support. Alternatively 52.00 resistance will be once more retested.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 54.00 level
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