Tuesday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Apr 07, 2015 06:17AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7698 with target @ 0.7730.
Market Scenario 2: Short positions below 0.7642 with target @ 0.7610.
Comment: The pair consolidates RBA-backed gains below 0.7700 level.
Supports and Resistances:
R3 0.7730
R2 0.7698
R1 0.7642
PP 0.7610
S1 0.7554
S2 0.7522
S3 0.7466
EUR/JPY
Market Scenario 1: Long positions above 131.10 with target @ 131.63.
Market Scenario 2: Short positions below 130.75 with target @ 130.22.
Comment: The pair is advancing higher near 131.00 level.
Supports and Resistances:
R3 131.98
R2 131.63
R1 131.10
PP 130.75
S1 130.22
S2 129.87
S3 129.34
EUR/USD
Market Scenario 1: Long positions above 1.0955 with target @ 1.1002.
Market Scenario 2: Short positions below 1.0876 with target @ 1.0829.
Comment: The pair might be pushed higher from the FOMC minutes tomorrow according to analysts.
Supports and Resistances:
R3 1.1128
R2 1.1081
R1 1.1002
PP 1.0955
S1 1.0876
S2 1.0829
S3 1.0750
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 178.86 with target @ 179.45.
Market Scenario 2: Short positions below 178.36 with target @ 177.77.
Comment: The pair might attract buyers because if we look long-term since 2012 the bulls have pushed this pair steadily upwards according to analysts.
Supports and Resistances:
R3 179.45
R2 178.86
R1 178.36
PP 177.77
S1 177.27
S2 176.68
S3 176.18
GBP/USD
Market Scenario 1: Long positions above 1.4909 with target @ 1.4950.
Market Scenario 2: Short positions below 1.4839 with target @ 1.4798.
Comment: The offered tone on the USD is on the rise ahead of the European session, which has led the pair to a session high of 1.4914 level.
Supports and Resistances:
R3 1.5061
R2 1.5020
R1 1.4950
PP 1.4909
S1 1.4839
S2 1.4798
S3 1.4728
USD/JPY
Market Scenario 1: Long positions above 119.87 with target @ 120.21.
Market Scenario 2: Short positions below 119.33 with target @ 118.99.
Comment: The pair regains upward momentum unexpectedly.
Supports and Resistances:
R3 120.75
R2 120.21
R1 119.87
PP 119.33
S1 118.99
S2 118.45
S3 118.11
GOLD
Market Scenario 1: Long positions above 1209.90 with target @ 1217.20.
Market Scenario 2: Short positions below 1205.30 with target @ 1198.98.
Comment: Gold prices have a bearish tone and trade below 1209.00 level.
Supports and Resistances:
R3 1233.70
R2 1229.10
R1 1221.80
PP 1217.20
S1 1209.90
S2 1205.30
S3 1198.00
CRUDE OIL
Market Scenario 1: Long positions above 53.00 with target @ 54.00.
Market Scenario 2: Short positions below 51.23 with target @ 50.23.
Comment: Crude oil prices decline on weak trend in overseas market.
Supports and Resistances:
R3 55.77
R2 54.00
R1 53.00
PP 51.23
S1 50.23
S2 48.46
S3 47.46
USD/RUB
Market Scenario 1: Long positions above 54.522 with target @ 56.056.
Market Scenario 2: Short positions below 53.577 with target @ 52.043.
Comment: The Russian ruble strengthened today morning, extending gains from Monday evening when the pair hit a new 2015 low affected by the international oil price.
Supports and Resistances:
R3 59.480
R2 58.535
R1 57.000
PP 56.056
S1 54.522
S2 53.577
S3 52.043
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