Wednesday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Mar 18, 2015 07:48AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7628 with target @ 0.7672.
Market Scenario 2: Short positions below 0.7628 with target @ 0.7569.
Comment: The pair erased previous gains and fell near to 0.7600 level ahead of Europe open.
Supports and Resistances:
R3 0.7711
R2 0.7687
R1 0.7672
PP 0.7628
S1 0.7593
S2 0.7569
S3 0.7534
EUR/JPY
Market Scenario 1: Long positions above 128.61 with target @ 129.15.
Market Scenario 2: Short positions below 128.61 with target @ 128.07.
Comment: The pair continues to gain some momentum ahead of the Fed meeting today.
Supports and Resistances:
R3 130.23
R2 129.69
R1 129.15
PP 128.61
S1 128.07
S2 127.53
S3 126.99
EUR/USD
Market Scenario 1: Long positions above 1.0599 with target @ 1.0647.
Market Scenario 2: Short positions below 1.0599 with target @ 1.0548.
Comment: The pair rose above 1.0600 level but now fell below it again.
Supports and Resistances:
R3 1.0746
R2 1.0698
R1 1.0647
PP 1.0599
S1 1.0548
S2 1.0500
S3 1.0449
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 179.22 with target @ 179.91.
Market Scenario 2: Short positions below 179.22 with target @ 177.62.
Comment: The pair trades below 179.00 level.
Supports and Resistances:
R3 181.51
R2 180.82
R1 179.91
PP 179.22
S1 178.31
S2 177.62
S3 176.71
GBP/USD
Market Scenario 1: Long positions above 1.4772 with target @ 1.4820.
Market Scenario 2: Short positions below 1.4772 with target @ 1.4699.
Comment: The pair fails to gain a foothold above 2013 low.
Supports and Resistances:
R3 1.4941
R2 1.4893
R1 1.4820
PP 1.4772
S1 1.4699
S2 1.4651
S3 1.4578
USD/JPY
Market Scenario 1: Long positions above 121.33 with target @ 121.54.
Market Scenario 2: Short positions below 121.33 with target @ 120.93.
Comment: The pair stays dead flat ahead of the Fed.
Supports and Resistances:
R3 121.94
R2 121.73
R1 121.54
PP 121.33
S1 121.14
S2 120.93
S3 120.74
GOLD
Market Scenario 1: Long positions above 1149.70 with target @ 1157.70.
Market Scenario 2: Short positions below 1149.70 with target @ 1140.00.
Comment: Gold prices slip to near four-month low as Fed seen readying rate hike path.
Supports and Resistances:
R3 1175.40
R2 1167.40
R1 1157.70
PP 1149.70
S1 1140.00
S2 1132.00
S3 1122.30
CRUDE OIL
Market Scenario 1: Long positions above 43.01 with target @ 43.62.
Market Scenario 2: Short positions below 43.01 with target @ 41.22.
Comment: Crude oil nearing its final target of 32.54 level.
Supports and Resistances:
R3 45.41
R2 44.80
R1 43.62
PP 43.01
S1 41.83
S2 41.22
S3 40.04
USD/RUB
Market Scenario 1: Long positions above 60.618 with target @ 60.970
Market Scenario 2: Short positions below 60.618 with target @ 59.579.
Comment: The pair trades ranged given the limited RUB transactions overseas.
Supports and Resistances:
R3 62.696
R2 61.657
R1 60.970
PP 60.618
S1 59.931
S2 59.579
S3 58.540
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