FOREX TRADING

EURUSD

Support at 1.2150 came under pressure yesterday as the euro continued to pullback after breaking below 1.2250 which provided support last week. Short-term sentiment remains slightly bullish as the median retracement of 1.1875-1.2465 is still intact – around 1.2170. Not far below 1.2150 comes 1.2100 which is the next support to watch – formed by the 61.8% of mentioned up leg. More downside action is likely – as long as upside will be capped by 1.2300. Above 1.2300 – uptrend resumes. Current quote is 1.2220 @05:55 GMT

Support: 1.2150, 1.2100 and 1.2000
Resistance: 1.2250, 1.2300, 1.2360 and 1.2400
Market sentiment: long term – bearish, medium term – bearish, short term – slightly bullish, intra-day – bearish

GBPUSD

Cable continues to consolidate between 1.5000 and 1.5100 but uptrend is losing steam and an extended correction seems possible in the coming days. Keep an eye on 1.5000 as a potential break down will favor further downside action to 1.4800. On the North side – break above 1.5100/20 will suggest that uptrend resumed, hence offering a buying opportunity. Current quote is 1.5045 @05:55 GMT

Support: 1.5000, 1.4900, 1.4850, 1.4800 and 1.4700/20
Resistance: 1.5100/20, 1.5200 and 1.5250/70
Market sentiment: long term – bearish, medium term – bearish, short term – bullish, intra-day – bearish

EURGBP

EURJPY

NZDUSD

Gold

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