ACFX DAILY TECHNICAL REPORT – LONDON OPEN 13.02.2015
Posted: Fri Feb 13, 2015 5:44 amMORE ON ACFXblog.com
ACFX DAILY TECHNICAL REPORT – LONDON OPEN 13.02.2015
EURUSD
The intraday technical outlook
EURUSD continued its yesterday growth, reaching new high of 1.1440 this morning.
After forming higher low in the second week of February, this might finally be a reversal sign. Especially as the US dollar is weakening currently.
From a technical perspective EURUSD is trading in an intraday 1 hour range with the line of control at the 1.1465 level.
GBPUSD
The intraday technical outlook
GBPUSD has broken the significant 1.5280 resistance level on the optimistic report by the Bank of England this morning. The pair has reached 1.5387 level.
On a Daily chart the pair has broken the downwards channel, which formed in July 2014. This could be the first signs of the trend reversal, though we should expect for the trend change confirmation first.
From a technical perspective GBPUSD is trading in an intraday 1 hour uptrend with the line of control at the 1.5485 level.
USDJPY
The intraday technical outlook
The USDJPY has fell over 1% this morning as Bank of Japan has announced that it has no plans for further QE.
From the larger perspective there were still no reversal signs of uptrend of the pair. USDJPY continue trading within 116.00- 120.00 range since December 2014.
From a technical perspective USDJPY is trading in an intraday 1 hour uptrend with the line of control at the 120.70 level.
USDCHF
The intraday technical outlook
USDCHF has finally made a new high after many days consolidation pattern. The pair has reached 0.9335 this morning, the level we were monitoring for the number of days.
From a technical perspective USDCHF is trading in an intraday 1 hour uptrend with the line of control at the 0.9340 level.
AUDUSD
The intraday technical outlook
AUDUSD continues its downtrend, after a new resistance level at 0.770 was formed.
The pair has pulled down sharply, as the Reserve Bank of Australia has cut its interest rate to the record low on February 3. AUDUSD continue to fall as more traders entering short positions, fearing of further interest cuts in March.
From a technical perspective the pair is trading in an intraday 1 hour downtrend with the line of control at the 0.700 level.
GOLD
The intraday technical outlook
Gold price has strengthened slightly, after it has reached a significant support level at 1216.00.
From a technical perspective Gold is trading in an intraday 1 hour downtrend with the line of control at the 1216.00 level.
OIL
The intraday technical outlook
Oil price has extended its morning gains, after it failed to reach 47.50 support line and formed higher low.
We continue to monitor the price action for a continuation of the move above 54.15 level.
From a technical perspective Oil is trading in an intraday 1 hour range with the line of control at the 48.00 level.
MORE ON ACFXblog.com
ACFX DAILY TECHNICAL REPORT – LONDON OPEN 13.02.2015
EURUSD
The intraday technical outlook
EURUSD continued its yesterday growth, reaching new high of 1.1440 this morning.
After forming higher low in the second week of February, this might finally be a reversal sign. Especially as the US dollar is weakening currently.
From a technical perspective EURUSD is trading in an intraday 1 hour range with the line of control at the 1.1465 level.
GBPUSD
The intraday technical outlook
GBPUSD has broken the significant 1.5280 resistance level on the optimistic report by the Bank of England this morning. The pair has reached 1.5387 level.
On a Daily chart the pair has broken the downwards channel, which formed in July 2014. This could be the first signs of the trend reversal, though we should expect for the trend change confirmation first.
From a technical perspective GBPUSD is trading in an intraday 1 hour uptrend with the line of control at the 1.5485 level.
USDJPY
The intraday technical outlook
The USDJPY has fell over 1% this morning as Bank of Japan has announced that it has no plans for further QE.
From the larger perspective there were still no reversal signs of uptrend of the pair. USDJPY continue trading within 116.00- 120.00 range since December 2014.
From a technical perspective USDJPY is trading in an intraday 1 hour uptrend with the line of control at the 120.70 level.
USDCHF
The intraday technical outlook
USDCHF has finally made a new high after many days consolidation pattern. The pair has reached 0.9335 this morning, the level we were monitoring for the number of days.
From a technical perspective USDCHF is trading in an intraday 1 hour uptrend with the line of control at the 0.9340 level.
AUDUSD
The intraday technical outlook
AUDUSD continues its downtrend, after a new resistance level at 0.770 was formed.
The pair has pulled down sharply, as the Reserve Bank of Australia has cut its interest rate to the record low on February 3. AUDUSD continue to fall as more traders entering short positions, fearing of further interest cuts in March.
From a technical perspective the pair is trading in an intraday 1 hour downtrend with the line of control at the 0.700 level.
GOLD
The intraday technical outlook
Gold price has strengthened slightly, after it has reached a significant support level at 1216.00.
From a technical perspective Gold is trading in an intraday 1 hour downtrend with the line of control at the 1216.00 level.
OIL
The intraday technical outlook
Oil price has extended its morning gains, after it failed to reach 47.50 support line and formed higher low.
We continue to monitor the price action for a continuation of the move above 54.15 level.
From a technical perspective Oil is trading in an intraday 1 hour range with the line of control at the 48.00 level.
MORE ON ACFXblog.com