ACFX DAILY TECHNICAL REPORT – LONDON OPEN 19.02.2015
Posted: Thu Feb 19, 2015 7:31 amMORE ON ACFXblog.com
ACFX DAILY TECHNICAL REPORT – LONDON OPEN 19.02.2015
EURUSD
The intraday technical outlook
EURUSD has been trading in a broad up channel for some 7 sessions.
However the 1.1440 level continues to offer EURUSD some stiff resistance.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1440 level.
GBPUSD
The intraday technical outlook
GBPUSD continues to rise off the back of good UK data.
This can be seem by the price action trading within a a large up channel.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5340 level.
USDJPY
The intraday technical outlook
Yesterday USDJPY has traded off its highs as the price action moves in the direction of the 118.25 support level.
A bounce off this level and a successful retest of the 119.20 resistance level would confirm that a new up trend is under way.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 118.25 level.
USDCHF
The intraday technical outlook
USDCHF continues to trade higher with the price action having broken above the above the 0.9370 resistance level.
This up move has created a rather distinct up channel.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9310 level.
AUDUSD
The intraday technical outlook
AUDUSD continues to spike higher and fall back.
I would really like to see AUDUSD to trade above the current structure and breach the 0.7900 level so as to confirm that major up side correction is underway.
From a technical perspective the pair is trading in an intraday 1 hour up trend with the line of control at the 0.7770 level.
GOLD
The intraday technical outlook
Gold continued to trade lower yesterday however late in the sessions we did get a good bounce off the 1200 area.
With the price action now trading into a Fibonacci support area I am monitoring the price action for signs of downward momentum dissipating.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1240.00 level.
OIL
The intraday technical outlook
Oil yesterday broke under its up channel and large triangle structure.
With Crude inventory numbers out this afternoon and unexpected increase in stockpiles could send Oil falling.
From a technical perspective Oil is trading in an intraday 1 hour downtrend with the line of control at the 54.15 level.
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ACFX DAILY TECHNICAL REPORT – LONDON OPEN 19.02.2015
EURUSD
The intraday technical outlook
EURUSD has been trading in a broad up channel for some 7 sessions.
However the 1.1440 level continues to offer EURUSD some stiff resistance.
From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1440 level.
GBPUSD
The intraday technical outlook
GBPUSD continues to rise off the back of good UK data.
This can be seem by the price action trading within a a large up channel.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5340 level.
USDJPY
The intraday technical outlook
Yesterday USDJPY has traded off its highs as the price action moves in the direction of the 118.25 support level.
A bounce off this level and a successful retest of the 119.20 resistance level would confirm that a new up trend is under way.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 118.25 level.
USDCHF
The intraday technical outlook
USDCHF continues to trade higher with the price action having broken above the above the 0.9370 resistance level.
This up move has created a rather distinct up channel.
From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9310 level.
AUDUSD
The intraday technical outlook
AUDUSD continues to spike higher and fall back.
I would really like to see AUDUSD to trade above the current structure and breach the 0.7900 level so as to confirm that major up side correction is underway.
From a technical perspective the pair is trading in an intraday 1 hour up trend with the line of control at the 0.7770 level.
GOLD
The intraday technical outlook
Gold continued to trade lower yesterday however late in the sessions we did get a good bounce off the 1200 area.
With the price action now trading into a Fibonacci support area I am monitoring the price action for signs of downward momentum dissipating.
From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1240.00 level.
OIL
The intraday technical outlook
Oil yesterday broke under its up channel and large triangle structure.
With Crude inventory numbers out this afternoon and unexpected increase in stockpiles could send Oil falling.
From a technical perspective Oil is trading in an intraday 1 hour downtrend with the line of control at the 54.15 level.
MORE ON ACFXblog.com