Technical trading & analysis report – 27th January 2015

<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.

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