Technical trading amp analysis report 15 December 2015
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. […]
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. […]
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 risen up towards major resistance around the 1.1100 level, but could be poised for a retreat ahead of the Fed interest rate decision.
GBP/USD has continued to be pressured within a well-defined downtrend and could be targeting further lows to continue this trend.
USD/JPY has dropped recently with a return of stock market volatility, but should be supported in the event of a Fed rate hike on Wednesday.
AUD/USD continues to trade within a long-term bearish trend under its 200-day moving average, and could reach further down to hit new lows.
USD/CAD has continued to rise on US dollar strength and extreme weakness in crude oil, and is currently targeting progressively higher multi-year highs towards 1.4000.