Monday's Technical Analysis: AUD/USD, EUR/JPY, EUR/USD, GBP/JPY
Panayiotis Miltiadous | Mar 23, 2015 07:49AM ET
*All the charts are 30M charts with daily pivot points.
AUD/USD
Market Scenario 1: Long positions above 0.7739 with target @ 0.7835.
Market Scenario 2: Short positions below 0.7739 with target @ 0.7675.
Comment: The pair advanced above 0.7800 early on in the Asia session on the back of widespread USD weakness, but the pair soon fell below this level.
Supports and Resistances:
R3 0.7995
R2 0.7899
R1 0.7835
PP 0.7739
S1 0.7675
S2 0.7579
S3 0.7515
EUR/JPY
Market Scenario 1: Long positions above 129.75 with target @ 130.92.
Market Scenario 2: Short positions below 129.75 with target @ 128.82.
Comment: The pair trades neutral below pivot point 129.75.
Supports and Resistances:
R3 133.02
R2 131.85
R1 130.92
PP 129.75
S1 128.82
S2 127.65
S3 126.72
EUR/USD
Market Scenario 1: Long positions above 1.0784 with target @ 1.0922.
Market Scenario 2: Short positions below 1.0784 with target @ 1.0688.
Comment: The pair price action suggest downside pressure is easing for the pair.
Supports and Resistances:
R3 1.1156
R2 1.1018
R1 1.0922
PP 1.0784
S1 1.0688
S2 1.0550
S3 1.0454
GBP/JPY
Get The News You Want
Market Scenario 1: Long positions above 179.17 with target @ 180.40.
Market Scenario 2: Short positions below 179.17 with target @ 177.02.
Comment: The pair trades steady as consolidation from 177.13 level continues.
Supports and Resistances:
R3 182.55
R2 181.32
R1 180.40
PP 179.17
S1 178.25
S2 177.02
S3 176.10
GBP/USD
Market Scenario 1: Long positions above 1.4887 with target @ 1.5052.
Market Scenario 2: Short positions below 1.4887 with target @ 1.4785.
Comment: The pair weakened after the UK CBI warned the negative effects of the “power vacuum” post-election results.
Supports and Resistances:
R3 1.5319
R2 1.5154
R1 1.5052
PP 1.4887
S1 1.4785
S2 1.4620
S3 1.4518
USD/JPY
Market Scenario 1: Long positions above 120.38 with target @ 120.88.
Market Scenario 2: Short positions below 120.38 with target @ 119.08.
Comment: The pair trades near 119.90 after hitting fresh high above 120.15 in the European morning.
Supports and Resistances:
R3 122.18
R2 121.68
R1 120.88
PP 120.38
S1 119.58
S2 119.08
S3 118.28
GOLD
Market Scenario 1: Long positions above 1180.00 with target @ 1192.00.
Market Scenario 2: Short positions below 1180.00 with target @ 1172.50.
Comment: Gold prices retain gains on weaker dollar.
Supports and Resistances:
R3 1211.50
R2 1199.50
R1 1192.00
PP 1180.00
S1 1172.50
S2 1160.50
S3 1153.00
CRUDE OIL
Market Scenario 1: Long positions above 46.27 with target @ 47.73.
Market Scenario 2: Short positions below 46.27 with target @ 43.66.
Comment: Crude oil prices could trade between $35 to $40 a barrel by the end of the second-quarter of 2015, according to analysts.
Supports and Resistances:
R3 50.34
R2 48.88
R1 47.73
PP 46.27
S1 45.12
S2 43.66
S3 42.51
USD/RUB
Market Scenario 1: Long positions above 59.648 with target @ 60.294.
Market Scenario 2: Short positions below 59.648 with target @ 57.984.
Comment: The pair is stabilizing despite oil's fade.
Supports and Resistances:
R3 61.957
R2 61.311
R1 60.294
PP 59.648
S1 58.630
S2 57.984
S3 56.967
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