Technical trading amp analysis report 8211 1st July 2014

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 […]


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By :  ,  Financial Analyst

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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