Technical trading & analysis report – 3rd June 2014

<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 started the month of June with a continued bearish bias, leaning to the downside towards 1.3500 support.

GBP/USD has pulled back within its steep uptrend to a key 38% Fibonacci level and is attempting a rebound from that level.

AUD/USD has attempted to recover from its support breakdown, but continues to be pressured to the downside.

Gold has broken down below key support and appears to be falling further towards its long-term lows around 1180.

The FTSE 100 index continues to retest major resistance around its long-term highs, and could be poised for a breakout to new record highs.

 

 

 

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