Technical trading amp analysis report 29 September 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. […]


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By :  ,  Financial Analyst

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 has continued to consolidate above 1.1100 support and could be poised for a breakdown on US dollar strength.

GBP/USD has dropped below its 1.5200 downside target and is now potentially targeting further support at the 1.5000 psychological level.

USD/JPY has been in a prolonged triangle consolidation and currently carries a bearish bias in the face of increased stock market volatility.

AUD/USD has retreated below its 0.7000 target and could be poised to extend its downtrend towards the 0.6800 level.

USD/CAD reached a new multi-year intraday high above 1.3400 and should now begin to target the 1.3600 resistance objective on US dollar strength and weak crude oil prices.

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