EURUSD
Euro broke 1.3330 support and continued its fall to test 1.3300. Afterwards it retraced back up to 1.3345 and now looks back on its way to test 1.3300 again. So currently our outlook switches to bearish as long as trading stays below 1.3370. The dollar rose against major rivals Wednesday, holding on to gains as investors continued to worry about a possible military strike in Syria. U.S. Fed is likely to slow its monthly bond purchases and perhaps even raise interest rates. Currencies tend to sell off in periods of global risk aversion or rising U.S. interest rates
Res: 1.3370, 1.3410, 1.3450, 1.3480
Sup1.3300, 1.3260, 1.3230, 1.3300
GBPUSD
Sterling continued its current downtrend breaking 1.5490 support and falling further to test 1.5420. Since it has retraced back up almost 100 pips testing key pivot point 1.5555, which if successful will reverse our outlook to bullish. England’s central bank said it stands ready to step up stimulus efforts if rising interest rates threaten economic recovery in Britain. It emphasized that the previously mentioned 7% unemployment rate is a threshold, not trigger, for raising UK interest rates
Res: 1.5555, 1.5600, 1.5640, 1.5700
Sup: 1.5480, 1.5420, 1.5375. 1.5300
USDJPY
The USDJPY on the H1 chart made a complete reversal of the previous downtrend. Among the signs was that head and shoulders patterns after hitting a low of 96.80, and it later continued to rise to break the downward channel and rise above the 55 exponential moving average, breaking 2 resistances on its way 97.40 and 97.70. So our current outlook is bullish as long as trading is maintained above 97.15 with our first target at 98.00. Most Asian stocks advance, tracking a rebound on Wall Street, with the energy sector particularly strong after U.S. benchmark crude-oil prices top $110-a-barrel overnight
Res: 98.00 98.40, 98.75, 99.15
Sup: 97.40, 97.15, 96.80, 96.40,
AUDUSD
We didn’t see any major moves on the Aussie as compared to the other currencies, however we did see it test 0.8900 twice but fail to break it, proving itself a strong support. Currently it’s trading close to psychological 0.9000 resistance and we will monitor if it will be able to break it as it already failed once before. If it does break it this leaves 0.9040 and 0.9100 targets in view.
Res: 0.9000, 0.9040, 0.9100, 0.9130
Sup:, 0.8900, 0.8845, 0.8800, 0.8769
Gold
After achieving an uptrend high of 1433, gold has dropped 27 dollars so far breaking 1413 support and is currently testing 1405. If it does break that support then we will not just consider it a retracement but a full reversal of the uptrend on the H1 chart. The drop comes with a gain in the U.S. dollar on Syria-related concerns tugging at prices after they climbed to their best levels in nearly three months.
Res: 1422, 1433, 1445, 1455,
Sup: 1405, 1390, 1378, 1370