GBP/USD Under Pressure, Crude Oil Continues To Decline
Panayiotis Miltiadous | Aug 18, 2015 06:14AM ET
AUD/USD
Market Scenario 1: Long positions above 0.7367 with targets at 0.7391 and 0.7412.
Market Scenario 2: Short positions below 0.7367 with targets at 0.7346 and 0.7322.
Comment: The pair tests lows below 0.7360 level, RBA minutes ignored.
Supports and Resistances:
R3 0.7436
R2 0.7412
R1 0.7391
PP 0.7367
S1 0.7346
S2 0.7322
S3 0.7301
EUR/JPY
Market Scenario 1: Long positions above 137.91 with targets at 138.25 and 138.72.
Market Scenario 2: Short positions below 137.91 with targets at 137.44 and 137.10.
Comment: The pair weakened and trades below 137.70 level.
Supports and Resistances:
R3 139.06
R2 138.72
R1 138.25
PP 137.91
S1 137.44
S2 137.10
S3 136.63
EUR/USD
Market Scenario 1: Long positions above 1.1133 with targets at 1.1169 and 1.1224.
Market Scenario 2: Short positions below 1.1133 with targets at 1.1078 and 1.1042.
Comment: The pair faced support near 1.1047 level and rebounded above 1.1070 level.
Supports and Resistances:
R3 1.1179
R2 1.1152
R1 1.1113
PP 1.1086
S1 1.1047
S2 1.1020
S3 1.0981
GBP/JPY
Market Scenario 1: Long positions above 194.26 with targets at 194.75 and 195.65.
Market Scenario 2: Short positions below 194.26 with targets at 193.36 and 192.87.
Comment: The pair has a bearish tone and trades below 193.60 level.
Supports and Resistances:
R3 196.14
R2 195.65
R1 194.75
PP 194.26
S1 193.36
S2 192.87
S3 191.97
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GBP/USD
Market Scenario 1: Long positions above 1.5617 with targets at 1.5655 and 1.5726.
Market Scenario 2: Short positions below 1.5617 with targets at 1.5546 and 1.5508.
Comment: The pair is under pressure ahead of the UK CPI report.
Supports and Resistances:
R3 1.5746
R2 1.5726
R1 1.5655
PP 1.5617
S1 1.5546
S2 1.5508
S3 1.5437
USD/JPY
Market Scenario 1: Long positions above 124.38 with targets at 124.57 and 124.75.
Market Scenario 2: Short positions below 124.38 with targets at 124.20 and 124.01.
Comment: The pair tries to break below pivot point 124.38.
Supports and Resistances:
R3 124.94
R2 124.75
R1 124.57
PP 124.38
S1 124.20
S2 124.01
S3 123.83
GOLD
Market Scenario 1: Long positions above 1117.30 with targets at 1121.80 and 1126.60.
Market Scenario 2: Short positions below 1117.30 with targets at 1112.50 and 1108.00.
Comment: Gold prices are trapped in narrow ranges and struggle to move higher as investors look to a near-term increase in U.S. interest rates in the face of mostly firm economic signals.
Supports and Resistances:
R3 1131.10
R2 1126.60
R1 1121.80
PP 1117.30
S1 1112.50
S2 1108.00
S3 1103.20
CRUDE OIL
Market Scenario 1: Long positions above 42.07 with targets at 42.50 and 43.12.
Market Scenario 2: Short positions below 42.07 with targets at 41.45 and 41.02.
Comment: Crude oil prices continue to decline near support level 41.45.
Supports and Resistances:
R3 43.55
R2 43.12
R1 42.50
PP 42.07
S1 41.45
S2 41.02
S3 40.40
USD/RUB
Market Scenario 1: Long positions above 64.246 with targets at 65.003 and 66.505.
Market Scenario 2: Short positions below 64.246 with targets at 63.743 and 62.986.
Comment: The pair advanced near support level 65.003.
Supports and Resistances:
R3 66.765
R2 66.505
R1 65.003
PP 64.246
S1 63.743
S2 62.986
S3 61.726
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