Daily Technical Analysis

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MARKET BRIEFING – LONDON OPEN 28.04.2015





EURUSD



The intraday technical outlook

Monday EURUSD traded higher following positive news from the Greek Government.

This morning I am monitoring the price action for a test of the 1.0900 resistance level.

Alternatively a failure to sustain a move above this level could see EURUSD trade back down to the 1.0800 support level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0820 level.


GBPUSD



The intraday technical outlook

Monday GBPUSD continued to trade higher as the price action tested the 1.5250 level.

Today’s GDP number should add to the market volatility.

I am this morning I am monitoring the price action for a test of the 1.5250 resistance level.

Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5100 support level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5100 level


USDJPY



The intraday technical outlook

Monday USDJPY was range bound as it traded between the 118.80 and 119.40 levels.

This morning I am monitoring the price action for a retest of the 118.80 support level.

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 resistance level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 119.40 level.


USDCHF



The intraday technical outlook

Monday USDCHF was range bound as it traded between the 0.9500 and 0.9600 levels.

This morning I am monitoring the price action for a retest of the 0.9500 support level.

Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9600 resistance level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level.


AUDUSD




The intraday technical outlook

Monday AUDUSD traded higher and this positive price action has followed through into today’s trade.

This morning I am monitoring the price action for a test of the 0.7900 resistance level.

Alternatively a failure to breach this level could see AUDUSD trade back down to the 0.7800 support level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7800 level


GOLD



The intraday technical outlook

Gold yesterday afternoon was bid higher and the price action experienced a large spike.

This morning I am monitoring the price action for a test of the 1209.00 resistance level.

Alternatively a failure to trade higher could see Gold retest the 1198.05 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1175.35 level.



OIL



The intraday technical outlook

Oil continues to trade in a 55.50 to 58.75 range.

I am this morning monitoring the price action for a test of the 55.50 support level.

Alternatively a failure to sustain lower prices could see Oil test the 57.85 resistance level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 57.85 level






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MARKET BRIEFING – LONDON OPEN 29.04.2015







EURUSD



The intraday technical outlook

Tuesday EURUSD continued to rally and has now traded up to a major down channel top.

The question is can EURUSD breach this and the 1.1000 level or will sellers come into the market and push the price action lower.

This morning I am monitoring the price action for a test of the channel top.

Alternatively a failure to sustain a move above this level could see EURUSD trade back down to the 1.0900 support level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0850 level

GBPUSD



The intraday technical outlook

Tuesday GBPUSD continued to rally as traders shrugged off disappointing GDP data.

GBPUSD has now traded up into prior broken support being a large multiple year converging triangle formation.

This broken support could offer strong resistance at the 1.5350 area.

I am this morning monitoring the price action for a test of the 1.5350 resistance level.

Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5150 support level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5100 level.


USDJPY



The intraday technical outlook

As posted yesterday USDJPY continues to be range bound as it trades between the 118.80 and 119.40 levels.

This morning I am monitoring the price action for a retest of the 118.80 support level.

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 resistance level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 119.40 level.


USDCHF



The intraday technical outlook

As posted yesterday USDCHF continues to be range bound as it trades between the 0.9500 and 0.9600 levels.

This morning I am monitoring the price action for a retest of the 0.9500 support level.

Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9600 resistance level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9500 level.

AUDUSD



The intraday technical outlook

Yesterday AUDUSD experienced a stellar rise.

However the move higher has run into resistance at the 0.8000 level.

This level coincides with a prior monthly support area.

This morning I am monitoring the price action for a retest of the 0.8000 resistance level.

Alternatively a failure to breach this level could see AUDUSD trade back down to the 0.7840 support level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7800 level.


GOLD



The intraday technical outlook

Gold yesterday continued to trade higher but found some resistance at the 1214.85 level.

This morning I am monitoring the price action for a test of the 1214.85 resistance level and a continuation to the prior top at 1222.00.

Alternatively a failure to trade higher could see Gold retest the 1209.00 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1175.35 level.


OIL



The intraday technical outlook

As posted previously Oil continues to trade in a 55.50 to 58.75 range.

I am this morning monitoring the price action for a test of the 55.50 support level.

Alternatively a failure to sustain lower prices could see Oil test the 57.85 resistance level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 57.85 level.







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MARKET BRIEFING – LONDON OPEN 30.04.2015




EURUSD




The intraday technical outlook

Wednesday EURUSD spiked higher as the price action broke above its large down channel.

The move higher would indicate that multiple year support in the 1.0500 area is valid and strong.

The move above the channel and the significant 1.1000 level now puts into play the long side of the trade.

This morning I am monitoring the price action for a test of the 1.1200 resistance level.

Alternatively a failure to sustain a move above this level could see EURUSD trade back down to the 1.1050 support level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.0950 / 1.1000 level


GBPUSD




The intraday technical outlook

Wednesday GDPUSD traded higher as it broke through the 1.5350 resistance level.

The 1.5350 is a significant multiple year resistance level as it coincides with a prior broken converging triangle price structure.

This morning I am monitoring the price action for a test of the 1.5450 resistance level.

Alternatively a failure to trade higher could see GBPUSD trade back down to the 1.5350 support level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5150 level


USDJPY




The intraday technical outlook

Wednesday USDJPY traded lower as it broke the 118.80 support level.

However what followed was volatile trading as the price action moved between the  118.50 and 119.40 price levels.

This morning I am monitoring the price action for a retest of the 118.80 resistance level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 118.50 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 119.40 level.


USDCHF




The intraday technical outlook

Wednesday USDCHF collapsed as it broke under the 0.9500 support level.

This morning I am monitoring the price action for a retest of the 0.9340 support level.

Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9500 resistance level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9600 level.


AUDUSD



The intraday technical outlook

Wednesday AUDUSD trade higher as the price action broke above the 0.8000 and 0.8050 resistance levels.

However during morning trading AUDUSD has corrected lower with the price action trading under the last isolated low of 0.7975.

The move beneath this swing level has technically changed the direction of the 1 hour trend from up to down.

This morning I am monitoring the price action for a continuation of the move lower and down to the area of channel support.

Alternatively a failure to trade lower could see AUDUSD trade back down to the 0.8000 resistance level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8075 level.


GOLD



The intraday technical outlook

Wednesday Gold failed in its attempt to retest the 1214.85 resistance level.

Subsequently Gold corrected lower as it penetrated the prior isolated low of 1204.70.

The move beneath this swing level has technically changed the direction of the 1 hour trend from up to down.

This morning I am monitoring the price action for a test of the 1198.05 support level.

Alternatively a failure to trade lower could see Gold retest the 1209.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1214.85 level.


OIL




The intraday technical outlook

Wednesday Oil broke higher from its recent tight consolidation pattern.

The break higher is in line with the directional momentum that can be found on both the daily and weekly time frames.

I am this morning monitoring the price action for a test of yesterdays highs on the 59.00 area.

Alternatively a failure to sustain higher prices could see Oil test the 56.65 resistance level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 56.65 level.




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MARKET BRIEFING – LONDON OPEN 01.05.2015




EURUSD




The intraday technical outlook

Thursday EURUSD had a volatile trading session before finally closing up on the day and above the 1.1200 resistance level.

This morning I am monitoring the price action for a test of the 1.1250 resistance level.

Alternatively a failure to sustain a move above this level could see EURUSD trade back down to the 1.1200 support level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.


GBPUSD




The intraday technical outlook

Thursday GBPUSD retested but failed to trade above the 1.5500 resistance level.

The breach of the last isolated low at 1.5400 has change the 1 hour trend from up to down.

This morning I am monitoring the price action for a retest of the 1.5500 resistance level.

Alternatively a failure to trade higher could see GBPUSD breach the the 1.5350 support level.

From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5495 / 1.5500 level.


USDJPY



The intraday technical outlook

Thursday USDJPY experienced a strong rally as it broke above its down channel.

The breach of the last isolated high at 119.36 has change the 1 hour trend from down to up.

This morning I am monitoring the price action for a retest of the 119.75 resistance level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.40 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 118.50 level.


USDCHF




The intraday technical outlook

Thursday USDCHF broke under its 0.9340 support level.

This morning I am monitoring the price action for a test of the 0.9300 support level.

Alternatively a failure to breach this level could see USDCHF trade back up to the 0.9445 resistance level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9445 level.


AUDUSD



The intraday technical outlook

Thursday AUDUSD traded back down to its channel bottom.

This morning I am monitoring the price action for a bounce off channel bottom support.

Alternatively a failure to trade higher could see AUDUSD trade back down to the 0.7840 support level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8075 level.


GOLD



The intraday technical outlook

Thursday Gold experienced a massive collapse.

This morning I am monitoring the price action for a test of the 1175.35 support level.

Alternatively a failure to trade lower could see Gold retest the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1207.30 level.



OIL



The intraday technical outlook

Thursday Oil continued to trade higher.

I am this morning monitoring the price action for a test of the 60.00 level

Alternatively a failure to sustain higher prices could see Oil test the 59.00 support level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level





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MARKET BRIEFING – LONDON OPEN 04.05.2015









EURUSD




The intraday technical outlook

Friday EURUSD was not able to sustain a move above last week’s highs.

What followed was a breach of the 1.1200 isolated low.

The move beneath this level has technically changed the 1 hour trend from up to down.

This morning I am monitoring the price action for a move down to the 1.1050 level.

Alternatively a failure to sustain a move lower could see EURUSD retest the 1.1200 level.

From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1285 level.


GBPUSD



The intraday technical outlook

Friday GBPUSD collapsed.

The move lower followed the prior break down from the up channel and breach of the 1.5400 isolated low.

This morning I am monitoring the price action for a test of the 1.5100 level.

Alternatively a failure to trade lower could see GBPUSD test the 1.5250 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5400 level.

USDJPY



The intraday technical outlook

Friday USDJPY continued its strong rally.

The breach of the last isolated high at 119.35 has change the 1 hour trend from down to up.

This morning I am monitoring the price action for a retest of Friday’s high.

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 118.50 level.


USDCHF




The intraday technical outlook

Friday USCHF traded lower however has since rallied.

This morning I am monitoring the price action for a test of the 0.9445 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the last weeks lows at the 0.9275 area.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9445 level.


AUDUSD



The intraday technical outlook

Friday AUDUSD broke down from its up channel.

This followed a breach of the 0.7975 isolated low.

The move beneath this level has technically changed the 1 hour trend from up to down.

This morning I am monitoring the price action for a test of the 0.7750 support level.

Alternatively a failure to trade lower could see AUDUSD test the 0.7840 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8075 level.


GOLD



The intraday technical outlook

Friday Gold continued to trade lower but found support at the 1175.35 level.

This morning I am monitoring the price action for a test of the 1184.15 level.

Alternatively a failure to trade higher could see Gold retest Friday’s lows.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1207.20 level


OIL



The intraday technical outlook

Friday Oil did trade higher however by the close of business had paired most of its gains.

I am this morning monitoring the price action for a test of the 60.00 level

Alternatively a failure to sustain higher prices could see Oil test the 59.00 support level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.




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MARKET BRIEFING – LONDON OPEN 06.05.2015







EURUSD




The intraday technical outlook

Tuesday EURUSD bounce higher off its channel bottom.

This morning I am monitoring the price action for a test of the 1.1285 /1.1300 resistance area.

Alternatively a failure to sustain a move higher prices could see EURUSD retest the 1.1200 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.


GBPUSD



The intraday technical outlook

Tuesday GBPUSD bounced higher off its 1.5100 support level.

This morning I am monitoring the price action for a re-test of the 1.5250 level.

Alternatively a failure to trade higher could see GBPUSD test the 1.5150 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5100 level.


USDJPY




The intraday technical outlook

Tuesday USDJPY tested, bounced off the 119.75 level.

This morning I am monitoring the price action for a test of the 119.40 level.

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.50 level.



USDCHF



The intraday technical outlook

Tuesday USDCHF continued to trade lower.

This morning I am monitoring the price action for a test of the 0.9200 level.

Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9270 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9385 level.


AUDUSD



The intraday technical outlook

Tuesday AUDUSD continued to trade higher.

This morning I am monitoring the price action for a re-test of the broken up channel.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7785 level.


GOLD



The intraday technical outlook

Tuesday continued to trade higher but eventually found strong resistance at the 1198.05 level.

This morning I am monitoring the price action for a re-test of the 1198.05 level.

Alternatively a failure to trade higher could see Gold re-test the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1185.45 level.


OIL




The intraday technical outlook

Tuesday Oil broke above its recent range as it put in a very strong rally.

I am this morning monitoring the price action to consolidate or correction off the overnight highs.

Alternatively a failure to trade lower  could see Oil test the 60.00 support level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.





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MARKET BRIEFING – LONDON OPEN 07.05.2015




EURUSD



The intraday technical outlook

Wednesday EURUSD closed at its highs and this positive momentum has continued into the mornings trading.

This morning I am monitoring the price action for a test of the 1.1350 resistance area.

Alternatively a failure to sustain a move higher prices could see EURUSD retest the 1.1285 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.


GBPUSD



The intraday technical outlook

Wednesday GBPUSD traded higher however this morning has opened some what negatively.

This morning I am monitoring the price action for a test of the 1.5150 level.

Alternatively a failure to trade lower could see GBPUSD re-test the 1.5250 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5150 level.


USDJPY




The intraday technical outlook

Wednesday USDJPY traded lower but has found support at the 119.40 level.

This morning I am monitoring the price action for a test of the 119.40 level.

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.50 level.


USDCHF



The intraday technical outlook

Wednesday USDCHF traded lower but eventually found support above the 0.9100 area.

This morning I am monitoring the price action for a test of the 0.9100 level.

Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9270 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9385 level.



AUDUSD



The intraday technical outlook

Wednesday AUDUSD closed higher on the day but was however unable to hold onto most of its gains.

This morning I am monitoring the price action for a re-test of the broken up channel.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7925 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7925 level.


GOLD



The intraday technical outlook

Wednesday Gold experienced a indifferent days trading however this morning a negative bias has entered the market.

This morning I am monitoring the price action for a test of the 1182.00 level.

Alternatively a failure to trade lower could see Gold re-test the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1198.05 level.


OIL



The intraday technical outlook

Wednesday Oil  initially spiked higher but found resistance at the 62.50 level and gave up all its gains.

This morning monitoring the price action for a test of the 60.00 level.

Alternatively a failure to trade lower  could see Oil re-test yesterdays highs.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 58.50 level.



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MARKET BRIEFING – LONDON OPEN 08.05.2015




EURUSD




The intraday technical outlook

Thursday EURUSD corrected for the entire day.

This negative bias has continued into this morning.

However the price action has now traded back to strong support in the form of the 1.1200 level and channel bottom.

This morning I am monitoring the price action for a bounce off the channel bottom.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1200 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.


GBPUSD




The intraday technical outlook

Thursday GBPUSD traded in a fairly tight range.

However last nights news of a shock exit poll result sent GBPUSD higher.

This morning I am monitoring the price action for a re-test of the 1.5495 / 1.5500 level.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5350 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5150 level.


USDJPY




The intraday technical outlook

Thursday USDJPY spiked higher off the 119.00 support area.

This morning I am monitoring the price action for a test of the 120.00 level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.50 level.


USDCHF




The intraday technical outlook

Thursday USDCHF spiked higher off the 0.9070 area.

This morning I am monitoring the price action for a test of the 0.9270 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9070 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9385 level.


AUDUSD




The intraday technical outlook

Thursday AUDUSD  failed in its attempt to sustain a move back into its up channel.

This led to a a strong downside correction which has continued into the morning trading.

This morning I am monitoring the price action for a test of the 0.7925 level.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8025 level.


GOLD




The intraday technical outlook

Thursday Gold traded lower.

However support was found at the 1182.00 area and this has led to a move higher during Friday morning.

This morning I am monitoring the price action for a test of the 1192.00 level.

Alternatively a failure to trade higher could see Gold re-test the 1182.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1198.05 level.


OIL




The intraday technical outlook

Thursday Oil slammed lower.

Is this a case of all good things end? With support being held at the 58.50 level we really need to see a push higher.

Otherwise the bulls who bought Oil during this up move will once again run for cover.

This morning monitoring the price action for a bounce off the 58.50 level

Alternatively a failure to trade higher  could see Oil re-test yesterdays lows.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.30 level.





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MARKET BRIEFING – LONDON OPEN 11.05.2015





EURUSD



The intraday technical outlook

Friday EURUSD continued to correct lower.

This morning I am monitoring the price action for a bounce off the mornings lows.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1050 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level


GBPUSD




The intraday technical outlook

Friday GBPUSD traded in erratic fashion for most of the day.

This morning I am monitoring the price action for a re-test of the 1.5495 / 1.5500 level.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5350 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5350 level.


USDJPY




The intraday technical outlook

Friday USDJPY experienced a volatile trading session.

Initially USDJPY spiked higher but was unable to make much headway above the 120.00 level.

What followed was a nasty collapse that was halted around the 119.75 level.

This morning I am monitoring the price action for a test of the 120.00 level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.25 level.



USDCHF




The intraday technical outlook

Friday USDCHF continued to rally as the price action traded up to its channel top.

This morning I am monitoring the price action for a test of the 0.9385 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9270 level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9180 level


AUDUSD



The intraday technical outlook

Friday AUDUSD  traded in volatile fashion as the price action stayed within a tight range.

This morning I am monitoring the price action for a test of the 0.7925 level.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7975 level.


GOLD




The intraday technical outlook

Friday Gold traded higher but found resistance at its channel top.

This morning I am monitoring the price action for a test of the 1182.00 level.

Alternatively a failure to trade lower could see Gold re-test the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1198.05 level.


OIL




The intraday technical outlook

Friday Oil continued to trade under its channel bottom in what was volatile trading.

This morning monitoring the price action for a breach of the 60.00 level

Alternatively a failure to trade higher  could see Oil re-test the 58.50 level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.30 level




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MARKET BRIEFING – LONDON OPEN 12.05.2015





EURUSD




The intraday technical outlook

Monday EURUSD experienced a somewhat choppy day.

This morning I am monitoring the price action for a test of the 1.1200 level.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1050 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1050 level.



GBPUSD



The intraday technical outlook

Monday GBPUSD continued to trade higher.

This morning I am monitoring the price action for a test of the 1.5600 level.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5350 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5350 level.



USDJPY



The intraday technical outlook

Monday USDJPY rallied for the entire day.

This morning I am monitoring the price action for a test of the 120.25 level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.75 support level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.25 level.



USDCHF




The intraday technical outlook

Monday USDCHF USDCHF continued to rally as the price action traded up to its channel top.

This morning I am monitoring the price action for a test of the 0.9385 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9270 level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9295 level.


AUDUSD





The intraday technical outlook

Monday AUDUSD continues to trade in a tight range.

This morning I am monitoring the price action for a test of the 0.7975 level.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7840 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.7975 level.




GOLD




The intraday technical outlook

Monday Gold tested but could not sustain a move  above its down channel top.

This morning I am monitoring the price action for a test of the 1182.00 level.

Alternatively a failure to trade lower could see Gold re-test the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1192.00 level.



OIL




The intraday technical outlook

Monday Oil happy a choppy days trading.

This morning monitoring the price action for a breach of the 60.00 level

Alternatively a failure to trade higher  could see Oil re-test the 58.50 level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.00 level.




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MARKET BRIEFING – LONDON OPEN 13.05.2015





EURUSD



The intraday technical outlook

Tuesday EURUSD rallied off the 1.1250 support level.

This morning I am monitoring the price action for a test of the 1.1285 level.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1125 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1125 level.


GBPUSD



The intraday technical outlook

Tuesday GBPUSD spiked higher following a bounce off the 1.5550 support level.

This morning I am monitoring the price action for a test of the 1.5700 level.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5550 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5550 level.


USDJPY



The intraday technical outlook

Tuesday USDJPY failed to sustain a move above the 120.25 level and the proceeded to experience a strong correction.

This morning I am monitoring the price action for a test of the 119.75 level.

Alternatively a failure to trade lower could see USDJPY trade back up to the 120.00 level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.25 level.


USDCHF



The intraday technical outlook

Tuesday USDCHF broke lower off its channel top.

This morning I am monitoring the price action for a test of the 0.9180 level.

Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9340 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9340 level.

AUDUSD



The intraday technical outlook

Tuesday AUDUSD traded higher but found resistance at the 0.8000 level.

This morning I am monitoring the price action for a re-test of the 0.8000 level.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.7925 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7875 level.


GOLD



The intraday technical outlook

Tuesday Gold broke above its down channel.

This morning I am monitoring the price action for a test of the 1198.00 level.

Alternatively a failure to trade higher could see Gold re-test the 1192.00 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1182.00 level.


OIL



The intraday technical outlook

Tuesday Oil traded higher in an orderly staircase fashion.

This morning monitoring the price action for a breach of the 61.30 level

Alternatively a failure to trade higher  could see Oil re-test the 60.00 level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 59.00 level.





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MARKET BRIEFING – LONDON OPEN 14.05.2015




EURUSD



The intraday technical outlook

Wednesday EURUSD continued to trade higher.

This morning I am monitoring the price action for a test of the 1.1450 level.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1285 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1200 level


GBPUSD



The intraday technical outlook

Wednesday GBPUSD continues to trade higher.

This morning I am monitoring the price action for a test of the 1.5800 level which coincides with a prior area of strong resistance.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5650 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5550 level.


USDJPY



The intraday technical outlook

Wednesday USDJPY continued to trade lower as the price action slash through multiple support levels.

This morning I am monitoring the price action for a test of the 118.80

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.40 level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.30 level.


USDCHF



The intraday technical outlook

Wednesday USDCHF traded lower following its failure to test its channel top.

This morning I am monitoring the price action for a test of the 0.9110 level.

Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9180 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9295 level.


AUDUSD



The intraday technical outlook

Wednesday AUDUSD traded higher for most of the day.

This morning I am monitoring the price action for a re-test of this mornings highs.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.8050 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level



GOLD



The intraday technical outlook

Wednesday Gold broke higher from the previous days tight range.

This morning I am monitoring the price action for a test of the 1222.00 level.

Alternatively a failure to trade higher could see Gold re-test the 1209.00 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1182.00 level.


OIL



The intraday technical outlook

Wednesday Oil traded higher but failed to penetrate back into its up channel. This led to a strong downward correction.

This morning monitoring the price action for a bounce off the 60.00 area.

Alternatively a failure to trade higher  could see Oil re-test the 59.00 level.

From a technical perspective Oil is trading in an intraday 1 hour up trend with the line of control at the 59.00 level.






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MARKET BRIEFING – LONDON OPEN 15.05.2015




EURUSD




The intraday technical outlook

Thursday EURUSD traded within a tight range.

This morning I am monitoring the price action for a test of the 1.1450 level.

Alternatively a failure to sustain a move higher prices could see EURUSD re-test the 1.1340 level.

From a technical perspective EURUSD is trading in an intraday 1 hour up trend with the line of control at the 1.1340 level.


GBPUSD




The intraday technical outlook

Thursday GBPUSD continues to trade higher.

This morning I am monitoring the price action for a test of the 1.5800 level which coincides with a prior area of strong resistance.

Alternatively a failure to trade higher could see GBPUSD re-test the 1.5650 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5650 level.


USDJPY




The intraday technical outlook

Thursday USDJPY spiked higher and is now testing the upper limit of its down channel.

This morning I am monitoring the price action for a bounce lower off the 119.40 level and the channel top.

Alternatively a failure to trade lower could see USDJPY trade back up to the 119.75 level.

From a technical perspective USDJPY is trading in an intraday 1 hour down trend with the line of control at the 120.30 level.



USDCHF




The intraday technical outlook

Thursday USDCHF traded lower following its failure to test its channel top.

This morning I am monitoring the price action for a test of the 0.9110 level.

Alternatively a failure to trade lower could see USDCHF trade back up to the 0.9180 level.

From a technical perspective USDCHF is trading in an intraday 1 hour down trend with the line of control at the 0.9295 level.


AUDUSD




The intraday technical outlook

Thursday AUDUSD corrected lower.

This morning I am monitoring the price action for a test of the 0.8075 level.

Alternatively a failure to trade higher could see AUDUSD could trade back down into the direction of the 0.8000 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level


GOLD




The intraday technical outlook

Thursday Gold closed marginally up on the day.

This morning I am monitoring the price action for a test of the 1222.00 level.

Alternatively a failure to trade higher could see Gold re-test the 1212.40 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1212.40 level.


OIL




The intraday technical outlook

Thursday Oil closed slightly lower on the day.

This morning monitoring the price action for a test off the 59.00 area.

Alternatively a failure to trade lower  could see Oil re-test the 60.00 level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.80 level.




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MARKET BRIEFING – LONDON OPEN 19.05.2015






EURUSD




The intraday technical outlook

Monday EURUSD tested the channel bottom and has subsequently broken it during early morning trading.

This morning I am monitoring the price action for a test of the 1.1200 level.

Alternatively a failure to sustain a move lower prices could see EURUSD re-test the 1.1285 level.

From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1465 level.



GBPUSD



The intraday technical outlook

Monday GBPUSD tested the 1.5650 support level.

This morning I am monitoring the price action for a re- test of the 1.5650 level.

Alternatively a failure to trade lower could see GBPUSD test last weeks highs.

From a technical perspective GBPUSD is trading in an intraday 1 hour up trend with the line of control at the 1.5650 level



USDJPY




The intraday technical outlook

Monday USDJPY continued to trade above its down channel and painted a bullish higher low higher high formation.

This morning I am monitoring the price action for a test of the 120.30 level

Alternatively a failure to trade higher could see USDJPY trade back down to the 119.40 level.

From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 119.20 level.



USDCHF



The intraday technical outlook

Monday USDCHF tested and close above its down channel.

This morning I am monitoring the price action for a test of the 0.9295 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9250 level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9130 level.



AUDUSD



The intraday technical outlook

Monday AUDUSD traded down and closed under its up channel.

This morning I am monitoring the price action for a test of the 0.7950 level.

Alternatively a failure to trade lower could see AUDUSD test the 0.8025 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour up trend with the line of control at the 0.7950 level.



GOLD




The intraday technical outlook

Monday Gold has corrected off its highs.

This morning I am monitoring the price action for a re-test of this weeks highs.

Alternatively a failure to trade higher could see Gold re-test the 1212.00 level.

From a technical perspective Gold is trading in an intraday 1 hour up trend with the line of control at the 1212.40 level



OIL





The intraday technical outlook

Monday Oil has continued to trade lower.

This morning monitoring the price action for a test off the 59.00 area.

Alternatively a failure to trade lower  could see Oil re-test the 60.00 level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 60.80 level.






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MARKET BRIEFING – LONDON OPEN 20.05.2015






EURUSD






The intraday technical outlook

Tuesday EURUSD lost further ground as it broke down through multiple support levels.

This morning I am monitoring the price action for a test of the 1.1050 level.

Alternatively a failure to sustain a move lower prices could see EURUSD re-test the 1.1200 level.

From a technical perspective EURUSD is trading in an intraday 1 hour down trend with the line of control at the 1.1465 level


GBPUSD




The intraday technical outlook

Tuesday GBPUSD tested and broke through its channel bottom.

This morning I am monitoring the price action for a test of the 1.5450 level.

Alternatively a failure to trade lower could see GBPUSD re-test the 1.5550 level.

From a technical perspective GBPUSD is trading in an intraday 1 hour down trend with the line of control at the 1.5800 level.


USDJPY




The intraday technical outlook

Tuesday USDJPY traded higher following its break out from its down channel.

This morning I am monitoring the price action for a test of the 121.00 level.

Alternatively a failure to trade higher could see USDJPY trade back down to the 120.50 level.

From a technical perspective USDJPY is trading in an intraday 1 hour up trend with the line of control at the 119.90 level.


USDCHF




The intraday technical outlook

Tuesday USDCHF  traded higher following its break out from its down channel.

This morning I am monitoring the price action for a test of the 0.9385 level.

Alternatively a failure to trade higher could see USDCHF trade back down to the 0.9340 level.

From a technical perspective USDCHF is trading in an intraday 1 hour up trend with the line of control at the 0.9250 level.

AUDUSD




The intraday technical outlook

Tuesday AUDUSD continued to trade lower following its break down from its channel bottom.

This morning I am monitoring the price action for a test 0.7875 level.

Alternatively a failure to trade lower could see AUDUSD test the 0.7950 level.

From a technical perspective AUDUSD is trading in an intraday 1 hour down trend with the line of control at the 0.8000 level.






GOLD





The intraday technical outlook

Tuesday Gold broke through its down channel.

This morning I am monitoring the price action for a test of the 1204.70.

Alternatively a failure to trade lower could see Gold re-test the 1212.40 level.

From a technical perspective Gold is trading in an intraday 1 hour down trend with the line of control at the 1232.20 level





OIL



The intraday technical outlook

Tuesday Oil continued to trade lower.

This morning monitoring the price action for a test off the 57.85 area.

Alternatively a failure to trade lower  could see Oil re-test the 59.00 level.

From a technical perspective Oil is trading in an intraday 1 hour down trend with the line of control at the 61.65 level.



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