Monday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Apr 27, 2015 06:58AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7852 with target @ 0.7884.
Market Scenario 2: Short positions below 0.7807 with target @ 0.7775.
Comment: The pair trades almost unchanged above pivot point 0.7807.
Supports and Resistances:
R3 0.7929
R2 0.7884
R1 0.7852
PP 0.7807
S1 0.7775
S2 0.7730
S3 0.7698
EUR/JPY
Market Scenario 1: Long positions above 129.43 with target @ 130.03.
Market Scenario 2: Short positions below 129.43 with target @ 128.75.
Comment: The pair tries to break resistance on pivot point 129.43.
Supports and Resistances:
R3 131.31
R2 130.71
R1 130.03
PP 129.43
S1 128.75
S2 128.15
S3 127.47
EUR/USD
Market Scenario 1: Long positions above 1.0918 with target @ 1.0966.
Market Scenario 2: Short positions below 1.0851 with target @ 1.0803.
Comment: The pair weakened and breaks pivot point support level 1.0851.
Supports and Resistances:
R3 1.1033
R2 1.0966
R1 1.0918
PP 1.0851
S1 1.0803
S2 1.0736
S3 1.0688
GBP/JPY
Market Scenario 1: Long positions above 180.46 with target @ 181.27.
Market Scenario 2: Short positions below 180.46 with target @ 179.92.
Comment: The pair is trading around an important support area and if it is breached more losses are possible.
Supports and Resistances:
R3 182.62
R2 181.81
R1 181.27
PP 180.46
S1 179.92
S2 179.11
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S3 178.57
GBP/USD
Market Scenario 1: Long positions above 1.5239 with target @ 1.5292.
Market Scenario 2: Short positions below 1.5132 with target @ 1.5079.
Comment: The pair made another attempt to reach 1.5200 level but failed again.
Supports and Resistances:
R3 1.5399
R2 1.5292
R1 1.5239
PP 1.5132
S1 1.5079
S2 1.4972
S3 1.4919
USD/JPY
Market Scenario 1: Long positions above 119.16 with target @ 119.49.
Market Scenario 2: Short positions below 119.16 with target @ 118.66.
Comment: The pair advanced and broke resistance level 119.16.
Supports and Resistances:
R3 120.32
R2 119.99
R1 119.49
PP 119.16
S1 118.66
S2 118.33
S3 117.83
GOLD
Market Scenario 1: Long positions above 1183.10 with target @ 1192.20.
Market Scenario 2: Short positions below 1183.10 with target @ 1170.90.
Comment: Gold prices are expected to trade sideways as stronger dollar in today’s session will exert downside pressure while poor economic data from the US will boost the safe haven appeal of the metal, according to analysts.
Supports and Resistances:
R3 1213.50
R2 1204.40
R1 1192.20
PP 1183.10
S1 1170.90
S2 1161.80
S3 1149.60
CRUDE OIL
Market Scenario 1: Long positions above 57.29 with target @ 58.08.
Market Scenario 2: Short positions below 56.63 with target @ 55.84.
Comment: Crude oil net bullish positions rose sharply.
Supports and Resistances:
R3 59.53
R2 58.74
R1 58.08
PP 57.29
S1 56.63
S2 55.84
S3 55.18
USD/RUB
Market Scenario 1: Long positions above 50.843 with target @ 51.619.
Market Scenario 2: Short positions below 50.061 with target @ 49.284.
Comment: The pair strengthened and advanced above 50.600 level.
Supports and Resistances:
R3 53.178
R2 52.402
R1 51.619
PP 50.843
S1 50.061
S2 49.284
S3 48.502
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