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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
5/27/2015 7:18:26 AM
1hr bullish crossover 1.0880 1.0960
4hr bullish crossover 1.0720 1.1050
Daily bearish crossover 1.0500 1.1235

Comments: EURUSD has found a bit of support at the 61.8% Fibonacci retracment level (1.0880) of its upswing from March low, at 10880.  Though it looks unlikely, it may have paved the way for a pullback towards the pivotal 1.1050 handle. Overall however bias remains lower due, above all, to the growing disparity between ECB & Fed's monetary policies, and as price is holding below all the main moving averages.

Product Momentum Strength Support Resistance
GBP/USD
5/27/2015 5:57:35 AM
1hr bullish crossover 1.5335 1.5435
4hr neutral 1.5140 1.5500
Daily bearish crossover 1.5040 1.5690

Comments: GBPUSD bias remains bearish despite the small bounce. As things stand, only a decisive break above 1.55 handle would invalidate this bearish view. Next potential support at 38.2% Fibo at 1.5335 then 50-day SMA at 1.5140 

Product Momentum Strength Support Resistance
USD/JPY
5/27/2015 6:04:41 AM
1hr neutral 123.25 124.15
4hr overbought 122.80 124.30
Daily bullish crossover 121.85 125.70

Comments: USDJPY is hitting fresh multi-year highs - next potential stop may well be the June 2007 high at ~124.15, but rally could extend far beyond this level as investors continue to price in a US rate hike for later this year

Product Momentum Strength Support Resistance
USD/CHF
5/27/2015 7:20:22 AM
1hr neutral 0.9475 0.9525
4hr potential bearish crossover 0.9400 0.9600
Daily bullish crossover 0.9285 0.9720

Comment: USDCHF is trying to break key resistance area around 0.9475-0.9525. The lower end of this range was previously resistance while the upper end is the 200-day SMA. If bulls succeed here, our bias would turn bullish and price may subsequently rally towards 61.8% Fibo at 0.9720/5

Product Momentum Strength Support Resistance
AUD/USD
5/27/2015 7:10:51 AM
1hr potential bearish crossover 0.7665 0.7770
4hr oversold 0.7535 0.7865
Daily bearish crossover 0.7360 0.8000

Comments: AUDUSD has broken below the 61.8% Fibonacci retracement of last upswing at 0.7775. This points to a potential drop all the way to the prior low ~ 0.7535 and probably beyond over time.

Product Momentum Strength Support Resistance
USD/CAD
5/27/2015 7:16:13 AM
1hr neutral 1.2400 1.2270
4hr overbought 1.2300 1.2325
Daily bullish crossover 1.2170 1.2400

Comments: USD/CAD has broken above 1.2400 - the neckline of a bull/bear battle reversal pattern between Jan to April. As such, there could be further gains to come as more sellers exit their positions. That said, the 61.8% Fibo is now in sight at 1.2485; this may offer some resistance and push price back down towards 1.2400. A potential closing break below 1.2400 would be bearish.

Product Momentum Strength Support Resistance
EUR/JPY
5/12/2015 6:25:11 PM
1hr neutral 133.50 135.35
4hr neutral 131.25 136.00
Daily neutral 130.30 137.00

Comments: The pair is treading water below 135.00. Bias lower below bearish H&S neckline around 133.70

Product Momentum Strength Support Resistance
NZD/USD
5/12/2015 6:28:17 PM
1hr neutral 0.7330 0.7500
4hr neutral 0.7270 0.7580
Daily neutral 0.7195 0.7645

Comments: This pair is suffering from increased rate-cut expectations at the RBNZ. Bias remains lower over medium-term

Product Momentum Strength Support Resistance
EUR/GBP
5/12/2015 6:31:27 PM
1hr neutral 0.7140 0.7225
4hr neutral 0.7115 0.7315
Daily bearish 0.7000 0.7420

Comments: The pair is attempting to regain some lost ground, but bias remains lower below 0.7200. Posible near-term consolidation

Product Momentum Strength Support Resistance
AUD/JPY
5/12/2015 6:34:25 PM
1hr bearish 95.05 96.00
4hr bearish 94.30 97.45
Daily neutral 93.55 98.45

Comments: The pair is stuck below 96.00. Bias lower below this level in the near-term. Possible ST tripple-top

Product Momentum Strength Support Resistance
GBP/JPY
5/12/2015 6:37:15 PM
1hr bearish MACD cross 186.75 188.00
4hr neutral 184.15 188.50
Daily neutral 182.45 189.80

Comments: Remains in a MT upward trend. Bias higher in this trend.

Product Momentum Strength Support Resistance
CAD/JPY
5/12/2015 6:39:57 PM
1hr bearish 99.65 100.00
4hr neutral 98.70 100.50
Daily neutral 98.25 101.00

Comments: This pair is nearing the all-important 100.00 level. Bias higher if broken but lower below this level in neart-term.

Disclaimer: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

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