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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
4/22/2015 5:43:42 AM
1hr bullish crossover 1.0715 1.0840
4hr neutral 1.0660 1.0930
Daily bullish crossover 1.0520 1.1000

Comments: EURUSD reminas in consolidation amid the lack of macro direction. Key resistance is around 1.0840/50 - last week's high & the 61.8% Fibo of recent downswing. Break above this area would thus be a bullish outcome and may lead to a rally towards the 50-day SMA & 78.6% Fibo at 1.0930

Product Momentum Strength Support Resistance
GBP/USD
4/22/2015 7:42:36 AM
1hr overbought 1.5000 1.5105
4hr bullish crossover 1.4970 1.5175
Daily bullish crossover 1.4855 1.5340

Comments: GBPUSD is trying to hold above the 50-day SMA at 1.5035. If successful, this may lead to a potential rally towards the 61.8% Fib level at 1.5175 and eventually maybe even the 1.55 handle.

Product Momentum Strength Support Resistance
USD/JPY
4/22/2015 7:51:18 AM
1hr neutral 119.30 119.75
4hr bearish crossover 119.00 119.95
Daily bearish crossover 118.50 120.80

Comments: USDJPY managed to hold its own above the horizontal support at 118.50 but now it must break the 50-day SMA at 119.75 in order to encourage further buying interest.

Product Momentum Strength Support Resistance
USD/CHF
4/22/2015 8:03:09 AM
1hr bullish crossover 0.9500 0.9620
4hr bullish crossover 0.9450 0.9655
Daily neutral 0.9030 0.9720

Comment: USDCHF is continuing to hold above the 0.9500 support level for now. The next support below here is the 38.2% Fibo at 0.9450 then nothing significant until 0.9030 (61.8%). In other words, the risk for a sharp correction is there if the bulls lose control of 0.9500.

Product Momentum Strength Support Resistance
AUD/USD
4/22/2015 8:10:19 AM
1hr neutral 0.7730 0.7780
4hr potential bullish crossover 0.7680 0.7825
Daily bullish crossover 0.7600 0.7900

Comments: AUDUSD is again trading above the 50-day SMA at 0.7730. Price is now testing 61.8% Fibo at 0.7780 - closing break above here is needed to spur a rally towards the top of the consolidative range around 0.7900. Otherwise, a pullback here would make technical sense.

Product Momentum Strength Support Resistance
USD/CAD
4/22/2015 8:15:44 AM
1hr bearish crossover 1.2210 1.2355
4hr neutral 1.2100 1.2400
Daily neutral 1.2000 1.2600

Comments: USD/CAD: now that 1.24 support is finally taken out, the path of least resistance is to the downside towards the key 1.2000 support area. But oil prices continue to pose a risk to this outlook and if crude slumps again then CAD could follow suit.

Product Momentum Strength Support Resistance
EUR/JPY
4/16/2015 2:22:37 AM
1hr neutral 127.00 128.00
4hr neutral 126.30 128.80
Daily neutral 125.00 129.75

Comments: The euro has recovered but the pair remains in a long-term downward trend. Possible medium-term strength

Product Momentum Strength Support Resistance
NZD/USD
4/16/2015 2:24:05 AM
1hr neutral 0.7550 0.7640
4hr neutral 0.7410 0.7705
Daily neutral 0.7320 0.7890

Comments: This pair is testing key resistance around 0.7600. Bias higher is broken; bias lower below 0.7600

Product Momentum Strength Support Resistance
EUR/GBP
4/16/2015 2:26:10 AM
1hr neutral 0.7230 0.7275
4hr neutral 0.7155 0.7320
Daily bearish 0.7095 0.7380

Comments: The pair is retesting 0.7200 as support, bias lower if broken. Long-term double-top

Product Momentum Strength Support Resistance
AUD/JPY
4/16/2015 2:28:11 AM
1hr neutral 91.45 93.10
4hr bullish 90.45 94.00
Daily neutral 89.45 94.75

Comments: Possible double-bottom. Bias higher above 92.00 and strengthening if 93.00 is broken

Product Momentum Strength Support Resistance
GBP/JPY
4/16/2015 2:30:20 AM
1hr bearish MACD cross 176.00 177.20
4hr neutral 175.50 179.35
Daily neutral 174.90 180.10

Comments: Bias lower in long-term below 200-day SMA. Possible MT strength above 175.00

Product Momentum Strength Support Resistance
CAD/JPY
4/16/2015 2:32:29 AM
1hr overbought 95.85 97.55
4hr neutral 94.95 97.85
Daily neutral 93.75 99.15

Comments: This pair is nearing its all-important 200-day SMA. Bias higher if broken. Possible shor-term retracement to the downside

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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