EUR/USD Advance Higher, Oil Prices Rise
Panayiotis Miltiadous | May 27, 2015 05:14AM ET
AUD/USD
Market Scenario 1: Long positions above 0.7766 with target at 0.7807.
Market Scenario 2: Short positions below 0.7766 with target at 0.7694.
Comment: The pair is expected to fall lower towards the 0.7000 level as RBA maybe ease further, according to analysts.
Supports and Resistances:
R3 0.7920
R2 0.7879
R1 0.7807
PP 0.7766
S1 0.7694
S2 0.7653
S3 0.7581
EUR/JPY
Market Scenario 1: Long positions above 134.55 with target at 135.23.
Market Scenario 2: Short positions below 133.82 with target at 133.14.
Comment: The pair advanced again and maybe will take the challenge to break the resistance level 134.55.
Supports and Resistances:
R3 135.96
R2 135.23
R1 134.55
PP 133.82
S1 133.14
S2 132.41
S3 131.73
EUR/USD
Market Scenario 1: Long positions above 1.0948 with target at 1.1023.
Market Scenario 2: Short positions below 1.0905 with target at 1.0830.
Comment: The pair advanced higher to 1.0920 as fresh bids came-in around 1.0905 on the back of a better-than-expected German consumer confidence data for June released today.
Supports and Resistances:
R3 1.1066
R2 1.1023
R1 1.0948
PP 1.0905
S1 1.0830
S2 1.0787
S3 1.0712
GBP/JPY
Market Scenario 1: Long positions above 190.06 with target at 190.75.
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Market Scenario 2: Short positions below 188.97 with target at 188.28.
Comment: The pair trades neutral for the moment near 189.40 level.
Supports and Resistances:
R3 191.84
R2 190.75
R1 190.06
PP 188.97
S1 188.28
S2 187.19
S3 186.50
GBP/USD
Market Scenario 1: Long positions above 1.5403 with target at 1.5452.
Market Scenario 2: Short positions below 1.5403 with target at 1.5331.
Comment: The pair advanced above pivot point 1.5403, but couldn’t continue its rise and went back now trying to break pivot point level again.
Supports and Resistances:
R3 1.5573
R2 1.5524
R1 1.5452
PP 1.5403
S1 1.5331
S2 1.5282
S3 1.5210
USD/JPY
Market Scenario 1: Long positions above 123.78 with target at 124.46.
Market Scenario 2: Short positions below 122.64 with target at 121.96.
Comment: The pair’s recent performance could allow it a visit of the 128.00 region, according to analysts.
Supports and Resistances:
R3 125.60
R2 124.46
R1 123.78
PP 122.64
S1 121.96
S2 120.82
S3 120.14
GOLD
Market Scenario 1: Long positions above 1193.40 with target at 1202.10.
Market Scenario 2: Short positions below 1178.70 with target at 1170.00.
Comment: Gold prices trade almost unchanged near 1188.00 level.
Supports and Resistances:
R3 1225.50
R2 1216.80
R1 1202.10
PP 1193.40
S1 1178.70
S2 1170.00
S3 1155.30
CRUDE OIL
Market Scenario 1: Long positions above 58.77 with target at 59.83.
Market Scenario 2: Short positions below 58.77 with target at 57.29.
Comment: Crude oil prices rose and found resistance on pivot point level 58.77.
Supports and Resistances:
R3 62.37
R2 61.31
R1 59.83
PP 58.77
S1 57.29
S2 56.23
S3 54.75
USD/RUB
Market Scenario 1: Long positions above 49.677 with target at 51.155.
Market Scenario 2: Short positions below 49.677 with target at 48.559.
Comment: The pair trades steady near 50.000 level.
Supports and Resistances:
R3 54.868
R2 52.272
R1 51.155
PP 49.677
S1 48.559
S2 47.082
S3 44.486
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