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Technical Analysis
Daily Technical by AAATrade
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[QUOTE="AAATrade, post: 96258, member: 36114"] *All the charts are 30M charts with daily pivot points. [B][U]AUD/USD [IMG]http://s2.postimg.org/mq1rf9zp5/AUDUSD.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 0.7032 with targets @ 0.7074 & 0.7122 [B]Market Scenario 2: [/B]Short positions below 0.7032 with targets @ 0.6984 & 0.6942 [B]Comment: [/B]Aussie during yesterday’s session recorded third day in the row in positive territory against US Dollar, closing the day with 60 pips profit. Today the pair continues its upward move having already tested the 1st resistance level. [B]Supports and Resistances:[/B] R3 0.7258 R2 0.7192 R1 0.7138 PP 0.7072 S1 0.7018 S2 0.6952 S3 0.6898 [B][U]EUR/JPY [IMG]http://s13.postimg.org/iszk5f67b/EURJPY.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 130.49 with targets @ 130.98 & 131.76 [B]Market Scenario 2: [/B]Short positions below 130.49 with targets @ 129.71 & 129.22 [B]Comment: [/B]European currency during yesterday’s session finished is in positive territory for the 7th day in a row against the Japanese Yen. Today Japanese yen was sold-off amid BOJ Governor’s decision to shift interest rates into negative territory. The BOJ will pay an interest rate of -0.1% on current accounts held by financial institutions. EUR appreciated amid this news for more than 200 pips against Japanese Yen and trading at 131.5 [B]Supports and Resistances:[/B] R3 131.76 R2 130.98 R1 130.49 PP 129.71 S1 129.22 S2 128.44 S3 127.95 [B][U]EUR/USD [IMG]http://s29.postimg.org/pqfxa74h3/EURUSD.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.0925 with targets @ 1.0982 & 1.1023 [B]Market Scenario 2: [/B]Short positions below 1.0925 with targets @ 1.0884 & 1.0827 [B]Comment: [/B]European currency during yesterday’s session continued its upward move against US Dollar, closing 4th day in the row in positive territory. However, today European currency is trading under pressure being sent below Pivot Point level. R3 1.1080 R2 1.1023 R1 1.0982 PP 1.0925 S1 1.0884 S2 1.0827 S3 1.0786 [B][U]GBP/JPY [IMG]http://s28.postimg.org/m48i1tdel/GBPJPY.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 170.13 with targets @ 171.60 & 172.61 [B]Market Scenario 2: [/B]Short positions below 170.13 with targets @ 169.12 & 167.65 [B]Comment: [/B]Sterling during yesterday’s session managed to break through its recent highs at 170.3 and close the session above it. Today after BOJ’s decision to switch interest rates into negative territory, Sterling appreciated for almost 300 pips up to now. [B]Supports and Resistances:[/B] R3 174.08 R2 172.61 R1 171.60 PP 170.13 S1 169.12 S2 167.65 S3 166.64 [B][U]GBP/USD [IMG]http://s24.postimg.org/lpu0wl2ut/GBPUSD.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1.4332 with targets @ 1.4432 & 1.4506 [B]Market Scenario 2: [/B]Short positions below 1.4332 with targets @ 1.4258 & 1.4158 [B]Comment: [/B]After a failure session on Wednesday, Sterling managed to gather strength and close yesterday’s session on the positive side, offsetting the losses incurred during the preceding session. Today the pair is trading with positive bias, having already reached a new high at 1.4413, the highest level since 15th of January [B]Supports and Resistances:[/B] R3 1.4606 R2 1.4506 R1 1.4432 PP 1.4332 S1 1.4258 S2 1.4158 S3 1.4084 [B][U]USD/JPY [IMG]http://s10.postimg.org/c8stl08t5/USDJPY.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 118.73 with targets @ 119.06 & 119.30 [B]Market Scenario 2: [/B]Short positions below 118.73 with targets @ 118.49 & 118.16 [B]Comment:[/B] US Dollar during yesterday’s session closed the third day in the row in positive territory against Japanese Yen. Today, amid BOJ’s Governor Haruhiko Kuroda decision to switch the interest rates into negative territory, the pair rallied and currently trading 200 pips away from its opening price. [B]Supports and Resistances:[/B] R3 119.63 R2 119.30 R1 119.06 PP 118.73 S1 118.49 S2 118.16 S3 117.92 [B][U]GOLD [IMG]http://s21.postimg.org/6ml4r61kn/GOLD.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 1122.40 with targets @ 1130.14 & 1135.63 [B]Market Scenario 2: [/B]Short positions below 1122.40 with targets @ 1116.91 & 1109.17 [B]Comment: [/B]Gold during yesterday’s session came under pressure and closed the day in the negative territory for the first time during this week. Today bullion continues trading under pressure, and have already tested the first support level, which stands close to gold’s previous highs at 1109-1110 US dollars per ounce. [B]Supports and Resistances:[/B] R3 1146.09 R2 1131.70 R1 1123.28 PP 1117.31 S1 1108.89 S2 1102.92 S3 1088.53 [B][U]CRUDE OIL [IMG]http://s16.postimg.org/wzv240qzp/CRUDE.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 33.41 with targets @ 35.09 & 36.49 [B]Market Scenario 2: [/B]Short positions below 33.41 with targets @ 32.01 & 30.33 [B]Comment:[/B] Crude oil during yesterday’s session broke through its recent highs of 32.8 US Dollars a barrel amid Russian’s energy minister’s statement that Saudi Arabia had proposed that oil-producing countries trim output. Today Crude oil is trading close to 34 US Dollar a barrel. However, it is still long way to go from talks to actual oil production cuts [B]Supports and Resistances:[/B] R3 39.57 R2 36.49 R1 35.09 PP 33.41 S1 32.01 S2 30.33 S3 27.25 [B][U]USD/RUB [IMG]http://s11.postimg.org/l48tmnqsj/USDRUB.png[/IMG] [/U][/B] [B]Market Scenario 1: [/B]Long positions above 75.77 with targets @ 77.05 & 78.59 [B]Market Scenario 2: [/B]Short positions below 75.77 with targets @ 74.23 & 72.95 [B]Comment: [/B]US Dollar during yesterday’s continued losing its positions against Russian Ruble and dropped as low as 74.48. Today the pair keeps moving lower, however, as soon as there will be more clarity on the agreement, if any, between OPEC and Non-OPEC oil producers the direction of the market will be clearer. [B]Supports and Resistances:[/B] R3 81.41 R2 78.59 R1 77.05 PP 75.77 S1 74.23 S2 72.95 S3 70.13 [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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