Technical trading & analysis report – 13th May, 2014

<p>City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as […]</p>

City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as the FTSE 100 index.

The focus is on technical price trends and major support and resistance levels.


EUR/USD has pulled back sharply to key 1.3700 support after hitting a new long-term high around 1.4000.

GBP/USD has also pulled back after hitting its own long-term high just short of 1.7000.

USD/JPY continues to trade sideways between its 50-day and 200-day moving averages but has been supported continuously by a major bullish trend line.

AUD/USD continues to trade above a short-term uptrend line, and is on target to reach towards its 0.9600 price objective.

The FTSE 100 has reached and re-tested a triple-top around multi-year highs, and could be poised to break to the upside, targeting 7000.

 

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