Wednesday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | May 06, 2015 05:57AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7998 with target @ 0.8055.
Market Scenario 2: Short positions below 0.7898 with target @ 0.7841.
Comment: The pair advanced today as the Dalian Iron ore futures rose their highest since the end of March.
Supports and Resistances:
R3 0.8155
R2 0.8055
R1 0.7998
PP 0.7898
S1 0.7841
S2 0.7741
S3 0.7684
EUR/JPY
Market Scenario 1: Long positions above 134.66 with target @ 135.26.
Market Scenario 2: Short positions below 133.88 with target @ 133.28.
Comment: The pair found resistance at 134.66 level and now trades below 134.50.
Supports and Resistances:
R3 136.04
R2 135.26
R1 134.66
PP 133.88
S1 133.28
S2 132.50
S3 131.90
EUR/USD
Market Scenario 1: Long positions above 1.1314 with target @ 1.1406.
Market Scenario 2: Short positions below 1.1249 with target @ 1.1157.
Comment: The pair advances higher and surpasses 1.1260 level.
Supports and Resistances:
R3 1.1406
R2 1.1314
R1 1.1249
PP 1.1157
S1 1.1092
S2 1.1000
S3 1.0935
GBP/JPY
Market Scenario 1: Long positions above 182.06 with target @ 182.67.
Market Scenario 2: Short positions below 182.06 with target @ 181.34.
Comment: The pair weakened and trades near pivot point 182.06.
Supports and Resistances:
R3 184.00
R2 183.39
R1 182.67
PP 182.06
S1 181.34
S2 180.73
S3 180.01
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GBP/USD
Market Scenario 1: Long positions above 1.5236 with target @ 1.5290.
Market Scenario 2: Short positions below 1.5162 with target @ 1.5108.
Comment: The pair found resistance at 1.5236 level and now is retreating.
Supports and Resistances:
R3 1.5364
R2 1.5290
R1 1.5236
PP 1.5162
S1 1.5108
S2 1.5034
S3 1.4980
USD/JPY
Market Scenario 1: Long positions above 120.03 with target @ 120.33.
Market Scenario 2: Short positions below 119.55 with target @ 119.25.
Comment: The pair tries hard to break resistance level at pivot point 120.13.
Supports and Resistances:
R3 121.11
R2 120.81
R1 120.33
PP 120.03
S1 119.55
S2 119.25
S3 118.77
GOLD
Market Scenario 1: Long positions above 1192.47 with target @ 1200.04.
Market Scenario 2: Short positions below 1192.47 with target @ 1185.64.
Comment: Gold prices broke support level at pivot point 1192.47 and trade near 1190.00 level.
Supports and Resistances:
R3 1214.44
R2 1206.87
R1 1200.04
PP 1192.47
S1 1185.64
S2 1178.07
S3 1171.24
CRUDE OIL
Market Scenario 1: Long positions above 61.45 with target @ 62.51.
Market Scenario 2: Short positions below 61.45 with target @ 60.04.
Comment: Crude oil prices trade neutral near resistance level 61.45.
Supports and Resistances:
R3 63.92
R2 62.51
R1 61.45
PP 60.04
S1 58.98
S2 57.57
S3 56.51
USD/RUB
Market Scenario 1: Long positions above 49.753 with target @ 51.046.
Market Scenario 2: Short positions below 48.919 with target @ 47.626.
Comment: The pair found support at 48.919 level.
Supports and Resistances:
R3 54.007
R2 53.173
R1 51.880
PP 51.046
S1 49.753
S2 48.919
S3 47.626
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