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Technical Outlook

Technical Outlook

Product Momentum Strength Support Resistance
EUR/USD
12/17/2014 9:34:07 AM
1hr bearish crossover 1.2445 1.2470
4hr bearish crossover 1.2370 1.2500
Daily bullish crossover 1.2245 1.2565

Comments: EURUSD has been making small higher lows and higher highs in recent trade. Will this trend continue? Depends on FOMC and price action around 1.2565 resistance. ST bias bearish below 1.2445 - 38.2% Fib level of recent rally.

Product Momentum Strength Support Resistance
GBP/USD
12/17/2014 9:41:18 AM
1hr bearish crossover 1.5700 1.5725
4hr bullish crossover 1.5675 1.5785
Daily neutral 1.5600 1.5845

Comments: GBPUSD has broken above 6-month-old bearish trend circa 1.5700. But the gais have so far been limited as investors await direcetion from the Fed. Cable could be in the process of forming a bottom.

Product Momentum Strength Support Resistance
USD/JPY
12/17/2014 9:57:58 AM
1hr neutral 116.85 117.50
4hr potential bullish crossover 115.50 118.00
Daily bearish crossover 114.00 119.45

Comments: USD/JPY has paused ahead of its 38.2% Fib retracement at 115.50 ahead of FOMC. Bias would be bearish below this level and bullish above 117.50 resistance

Product Momentum Strength Support Resistance
USD/CHF
12/17/2014 10:03:20 AM
1hr neutral 0.9625 0.9650
4hr bullish crossover 0.9605 0.9685
Daily bearish crossover 0.9530 0.9715

Comment: USDCHF just about holding above its 50-day SMA at 0.9605 - closing break below this level would be a bearish outcome.

Product Momentum Strength Support Resistance
AUD/USD
12/17/2014 10:10:02 AM
1hr bullish crossover 0.8140 0.8200
4hr neutral 0.8100 0.8270
Daily oversold 0.8000 0.8370

Comments: AUDUSD has now reached the 161.8% Fib extension of up move from January, at just below 0.8140. There is thus a possibility for a short-covering bounce here. But bias is decidedly bearish.

Product Momentum Strength Support Resistance
USD/CAD
12/17/2014 10:19:40 AM
1hr bearish crossover 1.1605 1.1665
4hr bearish crossover 1.1550 1.1685
Daily overbought 1.1490 1.1725

Comments: USDCAD has now reached its long-term 61.8% Fibo at 1.1665 where we also have the resistance trend of the bullish channel. Thus, a move lower from here should not come as a major surprise.

Product Momentum Strength Support Resistance
EUR/JPY
12/10/2014 8:32:17 PM
1hr bullish 146.75 147.50
4hr neutral 146.40 148.95
Daily bearish cross in MACD 145.75 149.25

Comments: The massive sell-off in the yen continues... bias higher in long-term, possible short-term consolidation from overbought levels.

Product Momentum Strength Support Resistance
NZD/USD
12/10/2014 8:35:02 PM
1hr bearish 0.7800 0.7900
4hr neutral 0.7715 0.7980
Daily bullish crossover in MACD 0.7660 0.8035

Comments: The pair is benefiting from a change of tone at the RBNZ. Bias higher in the medium-term

Product Momentum Strength Support Resistance
EUR/GBP
12/10/2014 8:36:56 PM
1hr neutral 0.7900 0.7935
4hr neutral 0.7870 0.7980
Daily neutral 0.7800 0.8040

Comments: The pair is finding some sticky ground around its 100-day SMA. Key resistance around its 200-day SMA

Product Momentum Strength Support Resistance
AUD/JPY
12/10/2014 8:39:41 PM
1hr bullish 97.85 99.55
4hr neutral 97.20 100.25
Daily bearish 96.10 101.40

Comments: The pair is finding some support around its 50day SMA. Eyes on 100day and 200day SMAs

Product Momentum Strength Support Resistance
GBP/JPY
12/10/2014 8:41:27 PM
1hr neutral 185.05 186.00
4hr neutral 184.00 186.50
Daily overbought 182.20 186.95

Comments: The pair is in consolidation mode in the short-term. Bias higher if 186.00 is broken in the short-term. Bias lower beyond 185.00

Product Momentum Strength Support Resistance
CAD/JPY
12/10/2014 8:43:25 PM
1hr neutral 102.45 104.30
4hr neutral 101.65 104.50
Daily Bearish cross 100.55 105.00

Comments: This pair is looking at a bearish crossover in daily MACD. Is the tide turning 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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