Technical Analysis: AUD/USD, EUR/JPY, EUR/USD
Panayiotis Miltiadous | Mar 02, 2015 07:11AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7807 with target @ 0.7863.
Market Scenario 2: Short positions below 0.7807 with target @ 0.7726.
Comment: Australian dollar suffered losses against the US dollar after the release of Australian AIG performance of the Mfg. Index by the Australian Industry Group.
Supports and Resistances:
R3 0.7894
R2 0.7863
R1 0.7838
PP 0.7807
S1 0.7782
S2 0.7751
S3 0.7726
EUR/JPY
Market Scenario 1: Long positions above 133.84 with target @ 134.25.
Market Scenario 2: Short positions below 133.84 with target @ 133.42.
Comment: The pair reached 134.00 level in the morning session which was unexpected from the moment that euro is falling against the US dollar.
Supports and Resistances:
R3 135.08
R2 134.67
R1 134.25
PP 133.84
S1 133.42
S2 133.01
S3 132.59
EUR/USD
Market Scenario 1: Long positions above 1.1204 with target @ 1.1233.
Market Scenario 2: Short positions below 1.1204 with target @ 1.1164.
Comment: The pair awaits EMU’s CPI, ECB while the outlook of it still remains negative.
Supports and Resistances:
R3 1.1302
R2 1.1273
R1 1.1233
PP 1.1204
S1 1.1164
S2 1.1135
S3 1.1095
GBP/JPY
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Market Scenario 1: Long positions above 184.34 with target @ 185.14.
Market Scenario 2: Short positions below 184.34 with target @ 183.68.
Comment: The pair shows weakness as it awaits UK PMI data.
Supports and Resistances:
R3 186.60
R2 185.80
R1 185.14
PP 184.34
S1 183.68
S2 182.88
S3 182.22
GBP/USD
Market Scenario 1: Long positions above 1.5424 with target @ 1.5466.
Market Scenario 2: Short positions below 1.5424 with target @ 1.5349.
Comment: The pair is trading near 1.5400 level.
Supports and Resistances:
R3 1.5541
R2 1.5499
R1 1.5466
PP 1.5424
S1 1.5391
S2 1.5349
S3 1.5316
USD/JPY
Market Scenario 1: Long positions above 119.49 with target @ 120.17.
Market Scenario 2: Short positions below 119.49 with target @ 119.18.
Comment: The pair is heading for 120.00 level with the Tokyo’s demand extending the rally on the basis of a strong dollar.
Supports and Resistances:
R3 120.54
R2 120.17
R1 119.86
PP 119.49
S1 118.18
S2 118.81
S3 118.50
GOLD
Market Scenario 1: Long positions above 1212.30 with target @ 1227.40.
Market Scenario 2: Short positions below 1212.30 with target @ 1205.50.
Comment: Gold prices advanced to the highest level of the last 2 weeks after China announced a second interest-rate cut in three months and the US reported a slower pace of economic expansion than estimated.
Supports and Resistances:
R3 1235.70
R2 1227.40
R1 1220.60
PP 1212.30
S1 1205.50
S2 1197.20
S3 1190.40
CRUDE OIL
Market Scenario 1: Long positions above 49.31 with target @ 50.15.
Market Scenario 2: Short positions below 49.31 with target @ 48.67.
Comment: Crude oil prices trade steady after recent sharp gains.
Supports and Resistances:
R3 51.63
R2 50.79
R1 50.15
PP 49.31
S1 48.67
S2 47.83
S3 47.19
USD/RUB
Market Scenario 1: Long positions above 61.504 with target @ 62.329.
Market Scenario 2: Short positions below 61.504 with target @ 60.055.
Comment: The ruble weakens on lower oil prices and Nemtsov murder.
Supports and Resistances:
R3 63.778
R2 62.954
R1 62.329
PP 61.504
S1 60.880
S2 60.055
S3 59.431
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