Technical trading & analysis report – 29th July 2014
James Chen July 29, 2014 8:21 PM
<p>Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, and AUD/USD, as well as indices […]</p>
Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, and AUD/USD, as well as indices including the FTSE 100 and the S&P 500.
The focus is on technical price trends and major support and resistance levels.
EUR/USD continues to show a major bearish bias targeting 1.3300 to the downside.
GBP/USD has pulled back further below 1.7000, but could be poised for a rebound.
AUD/USD has traded in a tight trading range after hitting its 2014 high early in the month.
The FTSE 100 index has rebounded after dropping down to key support around 6650, but could be preparing for a further retracement or correction within its long-term bullish trend.
The S&P 500 has continued its record-breaking run, but should be due for a pullback at least back down to the 1900 level.
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