Technical trading amp analysis report 8 September 2015
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. […]
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. […]
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 dropped down to trade just above key support around the 1.1100 level and continues to carry an overall bearish bias.
GBP/USD has rebounded substantially after dropping to major support around 1.5200, but the 1.5500 level should hold as strong resistance on any further upside move.
USD/JPY has continued to trade with high volatility in line with global equity markets but should now find some support after recent large declines.
AUD/USD is fluctuating just below the key 0.7000 level and could have further to fall to extend its sharp bearish trend.
USD/CAD has been trading just below its recent long-term highs, but could rise further in the event of a continuing strong US dollar and weak crude oil.