Technical trading & analysis report – 1st July 2014
James Chen July 1, 2014 7:28 PM
<p>City Index 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 […]</p>
City Index 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 gold and the FTSE 100 index.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has rebounded all the way back up to the 1.3700 resistance area after a month-long plunge to mid-June.
GBP/USD continues to break long-term highs and is now targeting 1.7250 to the upside.
AUD/USD has just made a new 2014 high and should be poised to move up towards its 0.9600 target.
Gold has also maintained its strength, now trading above 1325 resistance, and could be moving towards a recovery of recent months’ losses.
The FTSE 100 index has rebounded slightly after a relatively shallow pullback, but should be poised for a deeper pullback under near-record highs.
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