Technical trading amp analysis report 19 April 2016
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 back up towards major resistance on a resumption of US dollar weakness.
GBP/USD has also surged on dollar weakness, but continues to trade in a large consolidation not far above its long-term lows.
USD/JPY has once again bounced from key support at 108.00, but could be poised for a potential breakdown move to continue its recent sharp downtrend.
AUD/USD has broken out above major resistance at 0.7700 and could further extend its bullish trend on a continued rebound in commodities.
USD/CAD has extended its sharp downtrend on a recovery in crude oil and sustained weakness in the US dollar.