Technical trading amp analysis report 8211 27th May 2014
City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as […]
City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as […]
City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as gold and the S&P 100 index.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has dropped below its 200-day moving average, a significant bearish indication, and is working its way back down towards 1.3500 support.
GBP/USD continues to trade above its key 50-day moving average, showing enduring strength despite a pullback from its long-term highs.
USD/JPY continues to trade sideways but has recently drifted lower and rebounded from major 100.75 support.
AUD/USD has broken down below its four-month uptrend line and appears poised to move further back down towards its 200-day moving average.
Gold has been trading in a sideways consolidation for the past two months, and has just dropped towards key 1265 support.
The S&P 500 index continues to reach for new record highs, passing the 1900 mark and showing few signs of abating.