Technical trading amp analysis report 5 January 2016
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 broken down below key 1.0800 support and could be poised for further downside towards its 1.0500 target.
GBP/USD has continued to be pressured within a well-defined downtrend and could be targeting further lows towards 1.4500 to continue this trend.
USD/JPY has broken down with a return of stock market volatility to begin the New Year and could follow through with further losses.
AUD/USD has continued to be weighed down within its long-term bearish trend, with downside objectives at 0.7000 and 0.6800.
USD/CAD has continued to rise on US dollar strength and crude oil weakness, and is currently targeting progressively higher multi-year highs above 1.4000.