Technical trading & analysis report – 1 December 2015
James Chen December 1, 2015 7:50 PM
<p>City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. […]</p>
City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has continued to fall steadily towards its next major downside target at 1.0500, with an eventual target at parity.
GBP/USD has hit its 1.5000 bearish target and could continue to see further bearish momentum to 1.4800.
USD/JPY has been consolidating in a trading range, and could see a pullback down to the 122.00 support level.
AUD/USD has remained relatively strong within a rebound from its lows, but could soon revert back towards a continuation of its long-term downtrend.
USD/CAD has been rising within a sharp uptrend but has recently consolidated just below key resistance at 1.3400 ahead of a data-heavy week for both the US and Canadian dollars.
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