Thursday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Jun 25, 2015 06:39AM ET
AUD/USD
Market Scenario 1: Long positions above 0.7754 with target @ 0.7806.
Market Scenario 2: Short positions below 0.7718 with target @ 0.7666.
Comment: The pair rose but worries about Greece drove down demand for higher yielding assets, leading to a lower close.
Supports and Resistances:
R3 0.7842
R2 0.7806
R1 0.7754
PP 0.7718
S1 0.7666
S2 0.7630
S3 0.7578
EUR/JPY
Market Scenario 1: Long positions above 138.73 with target @ 139.21.
Market Scenario 2: Short positions below 138.29 with target @ 137.81.
Comment: The pair extended losses near 138.40 level as the yen bulls took charge across the board as Greece concerns continue to support safe-haven appeal in the Japanese currency.
Supports and Resistances:
R3 140.13
R2 139.65
R1 139.21
PP 138.73
S1 138.29
S2 137.81
S3 137.37
EUR/USD
Market Scenario 1: Long positions above 1.1197 with target @ 1.1241.
Market Scenario 2: Short positions below 1.1197 with target @ 1.1160.
Comment: The pair left overnight tops near 1.1220 and went back below 1.1200 level.
Supports and Resistances:
R3 1.1322
R2 1.1278
R1 1.1241
PP 1.1197
S1 1.1160
S2 1.1116
S3 1.1079
GBP/JPY
Market Scenario 1: Long positions above 193.87 with target @ 194.87.
Market Scenario 2: Short positions below 193.87 with target @ 193.24.
Comment: The pair faced support level 193.87 and rebounded.
Supports and Resistances:
R3 197.13
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R2 196.50
R1 195.50
PP 194.87
S1 193.87
S2 193.24
S3 192.24
GBP/USD
Market Scenario 1: Long positions above 1.5724 with target @ 1.5783.
Market Scenario 2: Short positions below 1.5724 with target @ 1.5647.
Comment: The pair recovered losses and jumped higher in the European morning, snapping its losing streak into a fourth day as the dollar once again lost ground amid an empty UK macro calendar.
Supports and Resistances:
R3 1.5919
R2 1.5860
R1 1.5783
PP 1.5724
S1 1.5647
S2 1.5588
S3 1.5511
USD/JPY
Market Scenario 1: Long positions above 123.98 with target @ 124.25.
Market Scenario 2: Short positions below 123.59 with target @ 123.32.
Comment: The pair after dipping to lows tries to recover some losses by trading near 123.75 level.
Supports and Resistances:
R3 124.91
R2 124.64
R1 124.25
PP 123.98
S1 123.59
S2 123.32
S3 122.93
GOLD
Market Scenario 1: Long positions above 1180.10 with target @ 1185.70.
Market Scenario 2: Short positions below 1174.10 with target @ 1168.50.
Comment: Gold prices are facing additional pressure from a stronger dollar and expectations of a US interest rate increase.
Supports and Resistances:
R3 1191.70
R2 1185.70
R1 1180.10
PP 1174.10
S1 1168.50
S2 1162.50
S3 1156.90
CRUDE OIL
Market Scenario 1: Long positions above 60.53 with target @ 61.26.
Market Scenario 2: Short positions below 60.53 with target @ 59.49.
Comment: Crude oil prices trade unchanged near 60.20 level.
Supports and Resistances:
R3 63.03
R2 62.30
R1 61.26
PP 60.53
S1 59.49
S2 58.76
S3 57.72
USD/RUB
Market Scenario 1: Long positions above 53.794 with target @ 54.404.
Market Scenario 2: Short positions below 53.098 with target @ 52.488.
Comment: The pair advanced above 53.500 level.
Supports and Resistances:
R3 55.709
R2 54.404
R1 53.794
PP 53.098
S1 52.488
S2 51.793
S3 50.487
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