29 Apr 2015
Technical outlook for FX majors – Kshitij Consultancy
FXStreet (Barcelona) - The Kshitij Consultancy team gives the outlook for FX majors, anticipating further gains in EUR/USD and GBP/USD as the near-term view for USD remains bearish.
Key Quotes
“US Consumer confidence came out lower than expected. Dollar Index (96.12) is down sharply and may target lower levels of 95.50-95.00. Near term looks bearish. Major currencies are likely to remain strong this week.”
“Pound (1.5338) is strongly bullish now and is rallying in quick moves. It is currently trading near our mentioned levels of 1.5340 but this level has high chances of breaking on the upside given the strong bullish influence. 1.5340-1.5355 is an immediate resistance but a break above may take it higher to 1.54-1.55 levels last seen in Feb’15.”
“Euro (1.0969) is strongly up and may retest resistance levels of 1.1024-1.1052 in the coming sessions."
“Aussie (0.7985) has come off after yesterday’s high at 0.8028. Is the longer term weekly resistance near 0.795-0.803 holding? Or will the currency see a rise later during the session? Need to watch out for a break above 0.803 else would see a fall towards 0.77-0.75.”
Key Quotes
“US Consumer confidence came out lower than expected. Dollar Index (96.12) is down sharply and may target lower levels of 95.50-95.00. Near term looks bearish. Major currencies are likely to remain strong this week.”
“Pound (1.5338) is strongly bullish now and is rallying in quick moves. It is currently trading near our mentioned levels of 1.5340 but this level has high chances of breaking on the upside given the strong bullish influence. 1.5340-1.5355 is an immediate resistance but a break above may take it higher to 1.54-1.55 levels last seen in Feb’15.”
“Euro (1.0969) is strongly up and may retest resistance levels of 1.1024-1.1052 in the coming sessions."
“Aussie (0.7985) has come off after yesterday’s high at 0.8028. Is the longer term weekly resistance near 0.795-0.803 holding? Or will the currency see a rise later during the session? Need to watch out for a break above 0.803 else would see a fall towards 0.77-0.75.”