EUR/USD: Support And Resistance
Panayiotis Miltiadous | Feb 20, 2015 06:04AM ET
*All the charts are 30-Min. with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7796 with targets @ 0.7837 and 0.7882.
Market Scenario 2: Short positions below 0.7796 with targets @ 0.7751 and 0.7710.
Comment: The pair seems to be making an attempt to surpass 0.7840.
Supports and Resistances:
R3 0.7923
R2 0.7882
R1 0.7837
PP 0.7796
S1 0.7751
S2 0.7710
S3 0.7665
EUR/JPY
Market Scenario 1: Long positions above 135.36 with targets @ 135.79 and 136.36.
Market Scenario 2: Short positions below 135.36 with targets @ 134.79 and 134.36.
Comment: The pair could extend losses depending on the Euro group meeting outcome.
Supports and Resistances:
R3 136.79
R2 136.36
R1 135.79
PP 135.36
S1 134.79
S2 134.36
S3 133.79
EUR/USD
Market Scenario 1: Long positions above 1.1390 with targets @ 1.1426 and 1.1485.
Market Scenario 2: Short positions below 1.1390 with targets @ 1.1295 and 1.1236.
Comment: The pair is testing the low levels with the crucial Euro group meeting ahead.
Supports and Resistances:
R3 1.1521
R2 1.1485
R1 1.1426
PP 1.1390
S1 1.1331
S2 1.1295
S3 1.1236
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 183.46 with targets @ 183.90 and 184.46.
Market Scenario 2: Short positions below 183.46 with targets @ 182.46 and 181.90.
Comment: The pair trades lower ahead of the data in the UK about retail sales contracted in January.
Supports and Resistances:
R3 184.90
R2 184.46
R1 183.90
PP 183.46
S1 182.90
S2 182.46
S3 181.90
GBP/USD
Market Scenario 1: Long positions above 1.5427 with targets @ 1.5451 and 1.5488.
Market Scenario 2: Short positions below 1.5427 with targets @ 1.5366 and 1.5329.
Comment: The pair is testing the first support level of 1.5390 ahead of the UK retail sales data.
Supports and Resistances:
R3 1.5512
R2 1.5488
R1 1.5451
PP 1.5427
S1 1.5390
S2 1.5366
S3 1.5329
USD/JPY
Market Scenario 1: Long positions above 118.84 with targets @ 119.26 and 119.58.
Market Scenario 2: Short positions below 118.84 with targets @ 118.20 and 117.78.
Comment: The pair is testing the lows after breaking the range of 118.90/85.
Supports and Resistances:
R3 120.00
R2 119.58
R1 119.26
PP 118.84
S1 118.52
S2 118.10
S3 117.78
Gold
Market Scenario 1: Long positions above 1211.60 with targets @ 1218.00 and 1229.30.
Market Scenario 2: Short positions below 1211.60 with targets @ 1200.30 and 1193.90.
Comment: Gold prices might test the level 1200.00.
Supports and Resistances:
R3 1234.60
R2 1224.00
R1 1218.40
PP 1207.80
S1 1202.20
S2 1191.60
S3 1186.00
CRUDE OIL
Market Scenario 1: Long positions above 51.54 with targets @ 53.35 and 54.53.
Market Scenario 2: Short positions below 51.54 with targets @ 50.36 and 48.55.
Comment: Crude Oil prices rebounded from the previous slump and are expected to be steady ahead of Baker Hughes (NYSE:BHI) IS rig count report to be released later.
Supports and Resistances:
R3 56.34
R2 54.53
R1 53.35
PP 51.54
S1 50.36
S2 48.55
S3 47.37
USD/RUB
Market Scenario 1: Long positions above 61.9245 with targets @ 62.6691 and 63.3832.
Market Scenario 2: Short positions below 61.9245 with targets @ 60.4658 and 59.7517.
Comment: The pair remains bearish.
Supports and Resistances:
R3 64.1278
R2 63.3832
R1 62.6691
PP 61.9245
S1 61.2104
S2 60.4658
S3 59.7517
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