Technical trading & analysis report – January 6, 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, 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 gold and the FTSE 100. The focus this week is on technical price trends and major support and resistance levels.


EUR/USD has begun the new year with a defensive pullback, but is still within the confines of a strong bullish trend.

GBP/USD has also pulled back, but continues to be entrenched in an even steeper bullish trend.

USD/JPY has continued to reach for progressively higher highs, most recently above its 105.00 target.

AUD/USD has consolidated since its mid-December long-term low at 0.8818, but is still experiencing significant pressure to the downside.

The FTSE 100 has continued to show remarkable bullishness after pulling back to a key uptrend support line and then recovering from that pullback.

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