Technical trading & analysis report – 20th January 2015
James Chen January 20, 2015 7:24 PM
<p>Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for four major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as […]</p>
Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for four major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as gold.
The focus is on technical price trends and major support and resistance levels.
EUR/USD reached an 11-year low before pulling back up slightly, and continues to trade within a strong bearish trend.
GBP/USD has consolidated near its 17-month lows and is poised to target the key 1.5000 support level to the downside.
USD/JPY has rebounded from its 115.50-area support and is showing signs of a recovery from the recent pullback.
AUD/USD has consolidated near its long-term lows and could be poised for further downside moves.
Gold has continued to rally from the beginning of the new year as it attempts a rebound and recovery from its lows.
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.