Technical trading & analysis report – 25th 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, AUD/USD and gold. The focus […]</p>

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

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

 


 

EUR/USD has failed thus far in its latest rebound attempt as it has just re-tested the two-year low established two weeks ago.

GBP/USD has formed a potential bear flag pattern and could be poised for a downtrend continuation.

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.

AUD/USD has consolidated its recent gains around the 118.00 level, but should be poised for a more substantial pullback.

Gold continues to be in rebound mode, although further downside might be expected if price action breaks below 1180 again.

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