Thursday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Apr 16, 2015 05:31AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7779 with target @ 0.7858.
Market Scenario 2: Short positions below 0.7729 with target @ 0.7650.
Comment: The pair strengthened after Australian unemployment rate surprisingly fell in March.
Supports and Resistances:
R3 0.7858
R2 0.7779
R1 0.7729
PP 0.7650
S1 0.7600
S2 0.7521
S3 0.7471
EUR/JPY
Market Scenario 1: Long positions above 127.74 with target @ 128.22.
Market Scenario 2: Short positions below 127.01 with target @ 126.53.
Comment: The pair initially fell during the course of the session on Wednesday, but found enough support to turn things back around and now trades steady near 127.30 level.
Supports and Resistances:
R3 128.95
R2 128.22
R1 127.74
PP 127.01
S1 126.53
S2 125.80
S3 125.32
EUR/USD
Market Scenario 1: Long positions above 1.0733 with target @ 1.0782.
Market Scenario 2: Short positions below 1.0651 with target @ 1.0602.
Comment: The pair bounce from lows but still has a bearish tone.
Supports and Resistances:
R3 1.0864
R2 1.0782
R1 1.0733
PP 1.0651
S1 1.0602
S2 1.0520
S3 1.0471
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 177.27 with target @ 177.73.
Market Scenario 2: Short positions below 176.48 with target @ 176.02.
Comment: The pair trades steady above 177.00 level.
Supports and Resistances:
R3 178.52
R2 177.73
R1 177.27
PP 176.48
S1 176.02
S2 175.23
S3 174.77
GBP/USD
Market Scenario 1: Long positions above 1.4896 with target @ 1.4950.
Market Scenario 2: Short positions below 1.4797 with target @ 1.4743.
Comment: The pair initially fell during the session on Wednesday, but found enough momentum to the upside to break above the 1.4800 level.
Supports and Resistances:
R3 1.5049
R2 1.4950
R1 1.4896
PP 1.4797
S1 1.4743
S2 1.4644
S3 1.4590
USD/JPY
Market Scenario 1: Long positions above 119.65 with target @ 120.18.
Market Scenario 2: Short positions below 119.22 with target @ 118.69.
Comment: The pair might see further patchy downward movement, but remain above 118.55/60 levels according to analysts.
Supports and Resistances:
R3 120.61
R2 120.18
R1 119.65
PP 119.22
S1 118.69
S2 118.26
S3 117.73
GOLD
Market Scenario 1: Long positions above 1207.80 with target @ 1214.20.
Market Scenario 2: Short positions below 1207.80 with target @ 1198.10.
Comment: Gold prices trade above 1200.00 level and await for US date to be released.
Supports and Resistances:
R3 1223.90
R2 1214.20
R1 1207.80
PP 1198.10
S1 1191.70
S2 1182.00
S3 1175.60
CRUDE OIL
Market Scenario 1: Long positions above 57.30 with target @ 58.65.
Market Scenario 2: Short positions below 55.35 with target @ 54.00.
Comment: Crude oil price reached56.39 level which is the highest price this year, after the Energy Department said that storage of crude rose by the smallest amount in three months.
Supports and Resistances:
R3 60.60
R2 58.65
R1 57.30
PP 55.35
S1 54.00
S2 52.05
S3 50.70
USD/RUB
Market Scenario 1: Long positions above 49.925 with target @ 50.801.
Market Scenario 2: Short positions below 48.174 with target @ 47.298.
Comment: The pair reached a new 2015 low as oil jumped.
Supports and Resistances:
R3 53.427
R2 52.552
R1 50.801
PP 49.925
S1 48.174
S2 47.298
S3 45.547
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