MARKET BRIEFING – LONDON OPEN 05.06.2015
EURUSD
The intraday technical outlook
EURUSD closed the day lower.
This morning I am monitoring the price action for a test of the 1.1340 level.
Alternatively a failure to sustain a move higher could see EURUSD test the 1.1200 level.
From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1200 level.
GBPUSD
The intraday technical outlook
GBPUSD closed the day higher.
This morning I am monitoring the price action for a test of the 1.5350 level.
Alternatively a failure to sustain a move higher could see GBPUSD test the 1.5250 level.
From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5250 level.
USDJPY
The intraday technical outlook
USDJPY closed the day higher.
This morning I am monitoring the price action for a test of the 125.00 level.
Alternatively a failure to sustain a move higher could see USDJPY test the 124.00 level.
From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 123.60 level
USDCHF
The intraday technical outlook
USDCHF closed the day unchanged.
This morning I am monitoring the price action for a test of the 0.9290 level.
Alternatively a failure to sustain a move lower could see USDCHF test the 0.9400 level.
From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9425 level.
AUDUSD
The intraday technical outlook
AUDUSD closed the day lower.
This morning I am monitoring the price action for a test of the 0.7600 level.
Alternatively a failure to sustain a move lower could see AUDUSD test the 0.7700 level.
From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7820 level.
GOLD
The intraday technical outlook
Gold closed the day lower.
This morning I am monitoring the price action for a test of the 1170.00 level.
Alternatively a failure to sustain a move lower could see XAUUSD test the 1179.00 level.
From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1196.25 level.
OIL
The intraday technical outlook
Oil closed the day lower.
This morning I am monitoring the price action for a test of the 57.00 level.
Alternatively a failure to sustain a move lower could see Light Sweet Crude test the 58.15 level.
From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.00 level.
MORE ON ACFXblog.com