Technical trading amp analysis report 27 October 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 continues its weakness under 1.1100 after last week’s plunge, and could be targeting further downside around the 1.0800 level.
GBP/USD has remained pressured after dropping below 1.5350 support last week, and could fall further to its 1.5100 target.
USD/JPY has retreated back down towards the key 120.00 level after surging last week up to its 200-day moving average.
AUD/USD has continued to trade within a flag pattern consolidation just above the 0.7200 support level.
USD/CAD continues to surge on weak crude oil and a rebound for the US dollar, and could be poised to re-target its multi-year highs around the 1.3400 level.