AUD/USD Weakens, Gold Languishes Near 4-Week Low
Panayiotis Miltiadous | Sep 10, 2015 05:45AM ET
AUD/USD
Market Scenario 1: Long positions above 0.7030 with targets at 0.7055 and 0.7095.
Market Scenario 2: Short positions below 0.7030 with targets at 0.6990 and 0.6965.
Comment: The pair weakened, but managed to rebound above 0.7000 level.
Supports and Resistances:
R3 0.7120
R2 0.7095
R1 0.7055
PP 0.7030
S1 0.6990
S2 0.6965
S3 0.6925
EUR/JPY
Market Scenario 1: Long positions above 134.82 with targets at 135.45 and 135.83.
Market Scenario 2: Short positions below 134.82 with targets at 134.44 and 133.81.
Comment: The pair rose but found resistance at 135.45 level.
Supports and Resistances:
R3 136.46
R2 135.83
R1 135.45
PP 134.82
S1 134.44
S2 133.81
S3 133.43
EUR/USD
Market Scenario 1: Long positions above 1.1184 with targets at 1.1238 and 1.1268.
Market Scenario 2: Short positions below 1.1184 with targets at 1.1154 and 1.1100.
Comment: The pair remains intact above 1.1200 level even though the Euro Stoxx 50 futures turned positive ahead of the opening bell.
Supports and Resistances:
R3 1.1322
R2 1.1268
R1 1.1238
PP 1.1184
S1 1.1154
S2 1.1100
S3 1.1070
GBP/JPY
Market Scenario 1: Long positions above 185.35 with targets at 186.29 and 187.35.
Market Scenario 2: Short positions below 185.35 with targets at 184.29 and 183.35.
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Comment: The pair fights to stay above pivot point 185.35.
Supports and Resistances:
R3 188.29
R2 187.35
R1 186.29
PP 185.35
S1 184.29
S2 183.35
S3 182.29
GBP/USD
Market Scenario 1: Long positions above 1.5373 with targets at 1.5398 and 1.5428.
Market Scenario 2: Short positions below 1.5373 with targets at 1.5343 and 1.5318.
Comment: The pair is weaker ahead of UK events and eases to 1.5350 level.
Supports and Resistances:
R3 1.5453
R2 1.5428
R1 1.5398
PP 1.5373
S1 1.5343
S2 1.5318
S3 1.5288
USD/JPY
Market Scenario 1: Long positions above 120.51 with targets at 121.21 and 121.90.
Market Scenario 2: Short positions below 120.51 with targets at 119.82 and 119.12.
Comment: The pair is back below 121.00 level, as the Japanese yen has reclaimed part of the recent ground lost to the greenback.
Supports and Resistances:
R3 122.60
R2 121.90
R1 121.21
PP 120.51
S1 119.82
S2 119.12
S3 118.43
GOLD
Market Scenario 1: Long positions above 1110.00 with targets at 1120.00 and 1134.60.
Market Scenario 2: Short positions below 1110.00 with targets at 1095.40 and 1085.40.
Comment: Gold prices languished near a four-week low on Thursday, retaining sharp overnight losses, as strong US economic data and outflows from bullion-backed exchange traded funds sapped investor interest.
Supports and Resistances:
R3 1144.60
R2 1134.60
R1 1120.00
PP 1110.00
S1 1095.40
S2 1085.40
S3 1070.80
CRUDE OIL
Market Scenario 1: Long positions above 44.81 with targets at 45.56 and 47.02.
Market Scenario 2: Short positions below 44.81 with targets at 43.35 and 42.60.
Comment: Crude oil prices have a bearish tone as Asia’s biggest economies slow further.
Supports and Resistances:
R3 47.77
R2 47.02
R1 45.56
PP 44.81
S1 43.35
S2 42.60
S3 41.14
USD/RUB
Market Scenario 1: Long positions above 66.631 with targets at 68.366 and 69.258.
Market Scenario 2: Short positions below 66.631 with targets at 65.739 and 64.003.
Comment: The pair trades neutral near 67.300 level.
Supports and Resistances:
R3 71.886
R2 69.258
R1 68.366
PP 66.631
S1 65.739
S2 64.003
S3 61.376
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