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Technical Analysis
Daily Technical by AAATrade
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[QUOTE="AAATrade, post: 95009, member: 36114"] *All the charts are 30M charts with daily pivot points. Technical Analysis for 01/08/2016 [B][U]AUD/USD [IMG]http://i63.tinypic.com/16av5ts.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 0.7024 with targets @ 0.7069 & 0.7129 [B]Market Scenario 2: [/B]Short positions below 0.7024 with targets @ 0.6964 & 0.6919 [B]Comment: [/B]Aussie during yesterday’s session dropped to its lowest level since 29 of September 2015 against US Dollar at 0.6979, however, having found some support close to the First support level managed to close the session above 0.70. Today bulls have already undertaken an attempt to test the First Resistance level at 0.7069, however the level remained unbroken. [B]Supports and Resistances:[/B] R3 0.7174 R2 0.7129 R1 0.7069 PP 0.7024 S1 0.6964 S2 0.6919 S3 0.6859 [B][U]EUR/JPY [IMG]http://i65.tinypic.com/20iw50z.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 127.99 with targets @ 129.21 & 129.83 [B]Market Scenario 2: [/B]Short positions below 127.99 with targets @ 127.37 & 126.15 [B]Comment: [/B]European currencyhaving sunk to its lowest level since 15th of April 2015 against Japanese Yen at 126.77, managed to stabilize and close the session with 80 pips profit at 128.44. Today the pair continues its upward move and trading close to the First Resistance level at 129.21 [B]Supports and Resistances:[/B] R3 131.05 R2 129.83 R1 129.21 PP 127.99 S1 127.37 S2 126.15 S3 125.53 [B][U]EUR/USD [IMG]http://i64.tinypic.com/358uiwz.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.0879 with targets @ 1.0987 & 1.1048 [B]Market Scenario 2: [/B]Short positions below 1.0879 with targets @ 1.0818 & 1.0710 [B]Comment: [/B]European currency during yesterday’s session managed to return all the losses for the preceding three negative sessions, closing the day with 150 pips profit against US Dollar. Today the currency is trading slightly under pressure, however, Pivot Point level continues supporting the pair. [B]Supports and Resistances:[/B] R3 1.1156 R2 1.1048 R1 1.0987 PP 1.0879 S1 1.0818 S2 1.0710 S3 1.0649 [B][U]GBP/JPY [IMG]http://i66.tinypic.com/2qkihvs.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 172.15 with targets @ 173.56 & 175.15 [B]Market Scenario 2: [/B]Short positions below 172.15 with targets @ 170.56 & 169.15 [B]Comment: [/B]Sterling having fallen to its lowest level since 17th of April against Japanese Yen at 170.70, found support and close the session at 171.95. Today the pair trades positively above Pivot Point level. [B]Supports and Resistances:[/B] R3 176.56 R2 175.15 R1 173.56 PP 172.15 S1 170.56 S2 169.15 S3 167.56 [B][U]GBP/USD [IMG]http://i65.tinypic.com/v83csx.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.4596 with targets @ 1.4659 & 1.4703 [B]Market Scenario 2: [/B]Short positions below 1.4596 with targets @ 1.4552 & 1.4489 [B]Comment: [/B]Sterling during Yesterday’s session dropped to 1.4532, the lowest level since May 2010, however, by the end of the trading session it managed to return all of the losses, closing the day at 1.4626. Nonetheless, today the pair continues trading under pressure even though its above Pivot Point level [B]Supports and Resistances:[/B] R3 1.4766 R2 1.4703 R1 1.4659 PP 1.4596 S1 1.4552 S2 1.4489 S3 1.4445 [B][U]USD/JPY [IMG]http://i64.tinypic.com/zockfd.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 117.91 with targets @ 118.50 & 119.34 [B]Market Scenario 2: [/B]Short positions below 117.91 with targets @ 117.07 & 116.48 [B]Comment: [/B]US Dollar during yesterday’s session recorded fourth day in the row on the negative territory against Japanese Yen, dropping as low as 117.30. Today the pair amid BOJ’s summary of opinions rose, returning almost all the losses incurred yesterday and currently trading close to the First Resistance level. [B]Supports and Resistances:[/B] R3 119.93 R2 119.34 R1 118.50 PP 117.91 S1 117.07 S2 116.48 S3 115.64 [B][U]GOLD [IMG]http://i65.tinypic.com/2v1kqi8.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1103.26 with targets @ 1115.33 & 1122.00 [B]Market Scenario 2: [/B]Short positions below 1103.26 with targets @ 1096.59 & 1084.52 [B]Comment: [/B]Gold during yesterday’s session continued its upward move amid uncertainty in the Chinese market gaining as much as 15 US Dollar per ounce and closing the session above psychologically important level of 1100. However, today gold is trading under selling pressure having dropped below 1100. [B]Supports and Resistances:[/B] R3 1140.74 R2 1122.00 R1 1115.33 PP 1103.26 S1 1096.59 S2 1084.52 S3 1065.78 [B][U]CRUDE OIL [IMG]http://i67.tinypic.com/30t5dnc.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 33.19 with targets @ 34.29 & 35.35 [B]Market Scenario 2: [/B]Short positions below 33.19 with targets @ 32.13 & 31.03 [B]Comment:[/B] Crude Oil continues its downwards move and sunk during yesterday’s session to 32.08. Nonetheless, Crude oil managed to recover some of the losses and closed the day at 33.24 which is slightly above January’s 2009 low. Today crude is trading positively, however it would be unwise to assume that Crude market bottomed. [B]Supports and Resistances:[/B] R3 37.51 R2 35.35 R1 34.29 PP 33.19 S1 32.13 S2 31.03 S3 28.87 [B][U]USD/RUB [IMG]http://i63.tinypic.com/27ymyyh.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 73.61 with targets @ 75.22 & 76.69 [B]Market Scenario 2: [/B]Short positions below 73.61 with targets @ 72.14 & 70.53 [B]Comment: [/B]Russian rubble during yesterday’s session having reached its weakest level against US Dollar at 75 rubles per 1 US Dollar, found some support and closed the day at 73.76. Today the pair moved even lower, trading at 72.26. [B]Supports and Resistances:[/B] R3 79.77 R2 76.69 R1 75.22 PP 73.61 S1 72.14 S2 70.53 S3 67.45 [I]The purpose of this risk disclaimer is to inform users of the potential financial risks involved in trading in foreign currencies. The transaction or operations in the Forex or fx markets does involve a substantial degree of risk, and should not be undertaken until the user has carefully evaluate whether their financial situation is appropriate for such transactions. Trading may result in a substantial or complete loss of funds and therefore should only be undertaken with risk capital.[/I] [/QUOTE]
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