Technical trading & analysis report – 18th November 2014

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

Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and gold, as well as the Germany 30.

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

 


 

EUR/USD continues to trade under heavy pressure near its long-term lows despite an attempt at a rebound, and appears to be moving towards a continuation of the entrenched bearish trend.

GBP/USD is also showing signs of a potential downtrend continuation, as it has dropped near its 2014 lows.

USD/JPY has continued its dramatic surge to the upside, establishing yet a new seven-year high, but could soon be poised for a substantial pullback.

Gold has rebounded back up to its 50-day moving average, but continues to carry an overall bearish outlook.

Germany 30 has continued to rebound sharply after having made a 15% correction in early October, and is advancing close to its 200-day moving average.

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