EUR/USD Weakens, Gold Struggles
Panayiotis Miltiadous | Sep 02, 2015 06:36AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7061 with targets at 0.7107 and 0.7200.
Market Scenario 2: Short positions below 0.7061 with targets at 0.6968 and 0.6922.
Comment: The pair rose from 6-year lows but the Australian data that were released regarding GDP still put pressure to the Australian dollar.
Supports and Resistances:
R3 0.7246
R2 0.7200
R1 0.7107
PP 0.7061
S1 0.6968
S2 0.6922
S3 0.6829
EUR/JPY
Market Scenario 1: Long positions above 135.32 with targets at 135.98 and 136.88.
Market Scenario 2: Short positions below 135.32 with targets at 134.42 and 133.76.
Comment: The pair is pushed down for second time to find support at pivot point 135.32.
Supports and Resistances:
R3 137.54
R2 136.88
R1 135.98
PP 135.32
S1 134.42
S2 133.76
S3 132.86
EUR/USD
Market Scenario 1: Long positions above 1.1284 with targets at 1.1362 and 1.1408.
Market Scenario 2: Short positions below 1.1284 with targets at 1.1238 and 1.1160.
Comment: The pair is weakened more and now tests the levels of 1.1250/60.
Supports and Resistances:
R3 1.1486
R2 1.1408
R1 1.1362
PP 1.1284
S1 1.1238
S2 1.1160
S3 1.1114
GBP/JPY
Market Scenario 1: Long positions above 183.81 with targets at 185.08 and 187.50.
Market Scenario 2: Short positions below 183.81 with targets at 181.39 and 180.12.
Comment: The pair couldn’t hold above pivot point 183.81 and retraced near 183.40 level.
Get The News You Want
Supports and Resistances:
R3 188.77
R2 187.50
R1 185.08
PP 183.81
S1 181.39
S2 180.12
S3 177.70
GBP/USD
Market Scenario 1: Long positions above 1.5336 with targets at 1.5374 and 1.5444.
Market Scenario 2: Short positions below 1.5336 with targets at 1.5266 and 1.5228.
Comment: The pair breaks below 1.5300 level and tracks European equity futures.
Supports and Resistances:
R3 1.5482
R2 1.5444
R1 1.5374
PP 1.5336
S1 1.5266
S2 1.5228
S3 1.5158
USD/JPY
Market Scenario 1: Long positions above 122.69 with targets at 120.67 and 121.98.
Market Scenario 2: Short positions below 122.69 with targets at 118.65 and 117.94.
Comment: The pair fell from highs of 120.46 earlier and now seems that it tries to reach 120.00 level again.
Supports and Resistances:
R3 122.69
R2 121.98
R1 120.67
PP 122.69
S1 118.65
S2 117.94
S3 116.63
GOLD
Market Scenario 1: Long positions above 1140.10 with targets at 1146.50 and 1153.60.
Market Scenario 2: Short positions below 1140.10 with targets at 1133.00 and 1126.60.
Comment: Gold prices struggle on greenback and fail to benefit from falling equities.
Supports and Resistances:
R3 1160.00
R2 1153.60
R1 1146.50
PP 1140.10
S1 1133.00
S2 1126.60
S3 1119.50
CRUDE OIL
Market Scenario 1: Long positions above 45.74 with targets at 47.32 and 50.46.
Market Scenario 2: Short positions below 45.74 with targets at 42.60 and 41.02.
Comment: Crude oil prices trade neutral near 44.35 level.
Supports and Resistances:
R3 52.04
R2 50.46
R1 47.32
PP 45.74
S1 42.60
S2 41.02
S3 37.88
USD/RUB
Market Scenario 1: Long positions above 64.433 with targets at 67.302 and 68.937.
Market Scenario 2: Short positions below 64.433 with targets at 62.798 and 59.929.
Comment: The pair trades flat near 65.800 level.
Supports and Resistances:
R3 73.441
R2 68.937
R1 67.302
PP 64.433
S1 62.798
S2 59.929
S3 55.425
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.