Technical trading amp analysis report January 14 2014
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 […]
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 […]
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.
After a sharp pullback in the beginning of the year, EUR/USD has attempted a recovery of the bullish trend that’s been in place for the past six months.
GBP/USD also experienced a pullback in the beginning of 2014, but continues to be entrenched for the time being within a steep bullish trend.
USD/JPY corrected to the downside after reaching highs above 105.00, but continues to show resilience and a bias towards potentially higher highs.
AUD/USD pulled back to the upside but continues to exhibit marked bearishness towards long-term lows.
Gold rebounded after hitting a double-bottom extreme low at the very end of 2013 but is still under pressure.
The FTSE 100 has consolidated in a flag pattern near extreme highs since the beginning of 2014 and may be poised for another potential bullish move.