CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Technical trading amp analysis report 8211 27th May 2014

Article By: ,  Financial Analyst
May 27, 2014 5:34 PM

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 S&P 100 index.

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


EUR/USD has dropped below its 200-day moving average, a significant bearish indication, and is working its way back down towards 1.3500 support.

GBP/USD continues to trade above its key 50-day moving average, showing enduring strength despite a pullback from its long-term highs.

USD/JPY continues to trade sideways but has recently drifted lower and rebounded from major 100.75 support.

AUD/USD has broken down below its four-month uptrend line and appears poised to move further back down towards its 200-day moving average.

Gold has been trading in a sideways consolidation for the past two months, and has just dropped towards key 1265 support.

The S&P 500 index continues to reach for new record highs, passing the 1900 mark and showing few signs of abating.

 

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