Technical trading & analysis report – April 22nd, 2014
James Chen April 22, 2014 8:35 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, USD/JPY, and AUD/USD, as […]</p>
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 the S&P 500 US equity index.
The focus is on technical price trends and major support and resistance levels.
EUR/USD is in consolidation around its 50-day moving average and appears poised to retest long-term highs near 1.4000.
GBP/USD has established a new long-term high and is on track to target a continuation of the entrenched uptrend towards 1.7000.
USD/JPY continues to trade sideways but has established strong support around 101.00 within an overall bullish trend.
AUD/USD has pulled back slightly after hitting its 0.9400 upside target, but appears poised to continue its recent bullishness towards the 0.9600-0.9650 target.
The S&P 500 US equity index is attempting a recovery from its recent 4% pullback, and is eyeing its record high near 1900 once again.
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