EUR/USD Technical view
SPOT EUR/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1.3546 | 1.3698 | 1.3529 | 1.3694 | 0.0148 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1.3930 |
| R2 | 1.3800 |
| R1 | 1.3700 |
| |
| S1 | 1.3650 |
| S2 | 1.3620 |
| S3 | 1.3550 |
EURO ended the session on Thursday with gains of 1.09%, versus the greenback, rallying to settle at more than 3 - weeks high. The close above 1.3650 has negated the near term term bearish view. However, concerns if the rally will sustain will be known over the next couple of sessions. As long as prices do not close below 1.3600- 1.3650; top end of the near term bearish channel, the near term view remains bullish and the gains should extend to 1.3800. The medium to long term view is also bullish for targets of 1.4200; targets for the symmetrical triangle in an uptrend
TREND DIRECTION
- Short term: Bullish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
Long:
- At 1.3630 with a stop at 1.3580 for a profit target of 1.3760
GBP/USD Technical view
SPOT GBP/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1.6574 | 1.6643 | 1.6554 | 1.6636 | 0.0062 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1.6700 |
| R2 | 1.6680 |
| R1 | 1.6650 |
| |
| S1 | 1.6610 |
| S2 | 1.6580 |
| S3 | 1.6520 |
Sterling ended the session on Thursday with gains of 0.37%, versus the greenback, extending its gains to the fifth successive session and closing at more than 32- months highs. The gains however look to be capped around the 1.6675- 1.6700 levels; top ends of the near and medium term bullish channels respectively. Leading indicators are also signalling negative divergences, so Sterling for now remains a sell on rally strategy. ONLY a close above 1.6700 will negate the near term bearish view with the rally likely to extend to 1.7200- 1.7300
TREND DIRECTION
- Short term: Bearish
- Medium term: Bullish
- Long term: Bullish
TRADING RECOMMENDATIONS
Short:
- Hold on to short positions initiated at 1.6610 with a stop at 1.6650 for a profit target of 1.6520
- If stops are triggered, short again at 1.6680 with a stop at 1.6730 for a profit target of 1.6520
Long:
AUD/USD Technical view
SPOT AUD/USD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 0.8851 | 0.8852 | 0.8730 | 0.8767 | -0.0084 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 0.8970 |
| R2 | 0.8850 |
| R1 | 0.8820 |
| |
| S1 | 0.8750 |
| S2 | 0.8730 |
| S3 | 0.8500 |
The Aussie ended the session on Thursday with losses of 0.95%, versus the US dollar, closing at the lowest levels since July 2010. Near term view bearish with the upside likely to be capped at 0.8800- 0.8850; near term breakouts. ONLY a close above 0.8850 will negate the near term bearish view. Supports placed at 0.8730- 0.8750, the final barrier before the Aussie could slide to 0.8500, with the medium to long term targets placed at 0.8400- 0.8500; targets for the symmetrical triangle in a downtrend
TREND DIRECTION
- Short term: Bearish
- Medium term: Bearish
- Long term: Bearish
TRADING RECOMMENDATIONS
Short:
- At 0.8830 with a stop at 0.8880 for a profit target of 0.8750
- At 0.8850 with a stop at 0.8900 for a profit target of 0.8750
Long:
GOLD Technical view
SPOT GOLD Previous day OHLC
| Open | High | Low | Close | Change |
| | |
| 1236.24 | 1265.40 | 1231.36 | 1263.95 | 27.90 |
Today's Support and Resistance
| Resistance |
| Support |
| R3 | 1280.00 |
| R2 | 1276.00 |
| R1 | 1266.00 |
| |
| S1 | 1262.00 |
| S2 | 1244.00 |
| S3 | 1232.00 |
Spot gold ended the session on Thursday with gains of 2.25%, rallying sharply to close at more than 2 months highs. The precious metal is closing in on crucial near term resistances at 1275.00- 1280.00; top end of the medium term bearish channel, where the near term upside is likely to be capped, before prices could begin sliding to 1225.00- 1230.00. The medium to long term view is extremely bearish with the precious metal likely to target 1000.00- 1050.00 per troy ounce; targets for the symmetrical triangle in a downtrend. Short the precious metals on gains up to 1280.00
TREND DIRECTION
- Short term: Bearish
- Medium term: Bearish
- Long term: Bearish
TRADING RECOMMENDATIONS
Short:
- At 1265.00 with a stop at 1273.00 for a target of 1230.00
- At 1275.00 with a stop at 1283.00 for a target of 1230.00
Long:
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