Wednesday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Apr 15, 2015 06:54AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7610 with target @ 0.7665.
Market Scenario 2: Short positions below 0.7571 with target @ 0.7516.
Comment: The pair has remained sidelined around the 0.7600 level.
Supports and Resistances:
R3 0.7759
R2 0.7704
R1 0.7665
PP 0.7610
S1 0.7571
S2 0.7516
S3 0.7477
EUR/JPY
Market Scenario 1: Long positions above 127.84 with target @ 128.50.
Market Scenario 2: Short positions below 126.97 with target @ 126.31.
Comment: The pair has been restricted to a range of 127.00-127.35 since the early Asian session today.
Supports and Resistances:
R3 129.37
R2 128.50
R1 127.84
PP 126.97
S1 126.31
S2 125.44
S3 124.78
EUR/USD
Market Scenario 1: Long positions above 1.0730 with target @ 1.0807.
Market Scenario 2: Short positions below 1.0631 with target @ 1.0554.
Comment: The pair remains unchanged on German CPI.
Supports and Resistances:
R3 1.0906
R2 1.0807
R1 1.0730
PP 1.0631
S1 1.0554
S2 1.0455
S3 1.0378
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 177.09 with target @ 177.71.
Market Scenario 2: Short positions below 175.97 with target @ 175.35.
Comment: The pair rebounds from 6-month lows and erases losses.
Supports and Resistances:
R3 178.83
R2 177.71
R1 177.09
PP 175.97
S1 175.35
S2 174.23
S3 173.61
GBP/USD
Market Scenario 1: Long positions above 1.4853 with target @ 1.4926.
Market Scenario 2: Short positions below 1.4728 with target @ 1.4655.
Comment: The pair is dropping during the European morning today, prompting riskier assets to give away part of yesterday’s gains following the poor results in the US docket.
Supports and Resistances:
R3 1.5051
R2 1.4926
R1 1.4853
PP 1.4728
S1 1.4655
S2 1.4530
S3 1.4457
USD/JPY
Market Scenario 1: Long positions above 120.01 with target @ 120.65.
Market Scenario 2: Short positions below 119.54 with target @ 118.90.
Comment: The pair holds above 119.50 level.
Supports and Resistances:
R3 121.12
R2 120.65
R1 120.01
PP 119.54
S1 118.90
S2 118.43
S3 117.79
GOLD
Market Scenario 1: Long positions above 1192.47 with target @ 1201.44.
Market Scenario 2: Short positions below 1183.64 with target @ 1174.67.
Comment: Gold prices hold above 2-week low after US retail sales miss.
Supports and Resistances:
R3 1219.24
R2 1210.27
R1 1201.44
PP 1192.47
S1 1183.64
S2 1174.67
S3 1165.84
CRUDE OIL
Market Scenario 1: Long positions above 54.93 with target @ 56.07.
Market Scenario 2: Short positions below 54.11 with target @ 52.97.
Comment: Crude oil prices advanced over 54.00 level.
Supports and Resistances:
R3 56.07
R2 54.93
R1 54.11
PP 52.97
S1 52.15
S2 51.01
S3 50.19
USD/RUB
Market Scenario 1: Long positions above 50.107 with target @ 51.414.
Market Scenario 2: Short positions below 49.202 with target @ 47.895.
Comment: The pair is trading around 49.500 level.
Supports and Resistances:
R3 54.531
R2 53.626
R1 52.319
PP 51.414
S1 50.107
S2 49.202
S3 47.895
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