Australian dollar kept on trading near the weakest level in last eleven months against US Dollar as speculation of end of monetary easing at US strengthened after San Francisco Federal Reserve President John Williams indicated impressive improvement in the US Labor Market since September.
AUDUSD is currently trading near 0.9730 level, with a weekly loss of near 2.6% so far. The pair lost nearly 6% in last 15 days.
As the pair sustained the breakdown of 200-week SMA (0.9868 level) and it is also trading below 23.6% retracement level of 1....
UK Tel. +44 (0) 20 3239 7789 | support@admiralmarkets.com
Technical Analysis
GBP/USD: Current outlook
May 17, 2013 - 13:40
The pair managed to hold above the 1.5200 support, so we see the possibility of a new surge towards the 100-Day SMA by 1.5410, with a daily close above to extend gains towards the 1.5600 resistance or the key 1.5730-1.5800 resistance area, which contains the 200-Day SMA and the 61.8% FIBO retracement level of the1.6380-1.4830 downside rally. Meanwhile, a clear break below the 1.5200 support would confirm declines towards the 1.4830 low.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the...
Gold: Technical Outlook
May 17, 2013 - 12:15
Gold prices declined 7% so far in the month of May by trading near $1376; the prices are trading below 200-week SMA. The 50-week SMA is trading below the 100-week SMA indicating a weaker technical trend.
Gold has immediate support near $1350, breaking which it can test the support zone of $1310 - $1300 (including bottom of $1308-$1921 move).
Breaking the aforesaid support levels, it can rest near $1280 - $1260 and a fall below that level may result price to witness near $1210 support.
On the upside, the metal has immediate resistance zone...
USD/CAD: Technical Outlook
May 16, 2013 - 13:08
On Wednesday, negative Empire State Manufacturing and PPI from US weakened USDCAD from the highest level in almost four weeks.
The pair tested 1.0218 on Wednesday, highest level since April 25th but consequently fell till 1.0157 in later sessions. It is currently trading near 1.0180 level, reversing the yesterday’s loss.
From the current level, pair is expected to test resistance level of 1.0216 (61.8% retracement level of 1.0341 – 1.0012 downfall), breaking which it is expected to face resistance zone of 1.0250 – 1.0270...
USD/CAD: Current outlook
May 16, 2013 - 12:34
The pair broke above the 100-Day SMA and the 50-Day SMA, thus confirming the uptrend towards the 1.0300 and the 1.0340 resistances. Breaching the 1.0340 level would allow testing the next 1.0450 frontier. The nearest support is now eyed by the 100-Day SMA at 1.0120. A daily close below this level would aim the pair for testing the key 1.0000-1.0015 support area, which contains the 200-Day SMA and the 61.8% FIBO retracement level of the 0.9814-1.0341 upside rally. However, only a clear break and consolidation below parity would...
Follow Admiral Markets Latest Updates
|
