Technical trading & analysis report – 27th January 2015
James Chen January 27, 2015 7:17 PM
<p>City Index 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 […]</p>
City Index 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 down to hit a new 11-year low and its downside target around 1.1100 before rebounding.
GBP/USD has also rebounded after hitting its own long-term low below the key 1.5000 support level.
USD/JPY has continued to trade within a large triangle consolidation after coming down from its highs.
AUD/USD has continued to make new lows on its way towards a downside target around the 0.7700 level.
Gold has consolidated its recent gains within the current rebound and potential recovery.
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.