Technical trading amp analysis report 8211 15th July 2014

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 the […]


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By :  ,  Financial Analyst

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 the FTSE 100 index.

The focus is on technical price trends and major support and resistance levels.

 


 

EUR/USD continues to show a bearish trend bias as it trades in a range between key 1.3500 support and 1.3700 resistance.

GBP/USD is in a slight pullback near multi-year highs, but continues to maintain its bullish stance towards a potential upside target around 1.7250.

AUD/USD has pulled back after hitting a 2014 high two weeks ago, but could soon be poised to continue its upside momentum towards the 0.9600 target.

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.

 

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