technical trading analysis report 17 november 2015 1768762015
<p>City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD. […]</p>
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City Index Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for five major currency pairs, including EUR/USD, GBP/USD, USD/JPY, AUD/USD, and USD/CAD.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has just established a new seven-month low and continues to target the 1.0500 level to the downside.
GBP/USD has consolidated around the 1.5200 level, but continues to carry a bearish outlook towards 1.5000 after the recent rebound.
USD/JPY remains supported by dollar strength and yen weakness, as well as lack of volatility in the equity markets, and could be prepared to rise towards 125.00 resistance.
AUD/USD is still trading under its 50-day moving average, and could be poised to continue its well-entrenched downtrend towards 0.7000 and 0.6800.
USD/CAD remains in a strong uptrend due to US dollar strength and weakness in crude oil, and is trading just below its 1.3400-area multi-year highs.
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