technical trading analysis report 16 february 2016 1797492016

City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. […]


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By :  ,  Financial Analyst

City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.

The focus is on technical price trends and major support and resistance levels.


EUR/USD has pulled back down towards 1.1100 support on an extended pullback from recent highs.

GBP/USD has accelerated its retreat and could be poised to resume its entrenched bearish trend.

USD/JPY has rebounded from recent lows after its early February plunge but could resume its fall on any continued volatility in equities.

AUD/USD remains in consolidation but continues to trade within a long-term bearish trend.

USD/CAD has risen off its recent lows and could be poised for a larger bounce on continuing weakness in crude oil.

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