Technical trading amp analysis report 4 August 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 has pulled back after rising to 1.1100 resistance, and continues to carry a bearish bias.
GBP/USD has consolidated within a tight trading range and could be poised for an impending breakout on US/UK rate hike expectations.
USD/JPY has drifted higher, but continues to be limited to the upside by 124.50 resistance.
AUD/USD just made an RBA-fueled surge to the upside, but should have further downside potential on gold weakness and US dollar strength.
USD/CAD has reached up to approach its 1.3200 target and could strengthen further on continued US dollar strength and lower oil prices.