Australia - English
The pair made a sharp drop to the key 1.3000 support, right where both the 50-Day SMA and the 200-Day SMA reside. A clear break and consolidation below this level would confirm declines towards the 1.2660 support. However, while the pair trades above 1.3000, the risks are on the upside, so we would see a new surge towards the 1.3200 resistance, with a clear break and consolidate above to confirm the uptrend towards the next resistance by the 1.3340, right where the 61.8% FIBO retracement level of the latest 1.3710-1.2745 downside...
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Technical Analysis
GBP/USD: Current outlook
May 10, 2013 - 10:09
The pair broke the 100-Day SMA at 1.5465. A consolidation below this level would accelerate declines towards the 1.5200 support, with a break below to confirm the downtrend towards the 1.5000 level and the 1.4830 low. However, should the pair break back and hold above the 100-Day SMA, we would see a new surge towards the key 1.5750-1.5800 resistance area, which contains the 200-Day SMA and the 61.8% FIBO retracement level of the1.6380-1.4830 downside rally.
Edward Smith, technical analyst of company Admiral Markets...
Gold: Technical Outlook
May 09, 2013 - 15:10
Gold prices have been trading up since April 16, reversing the low of $1321.60. The metal made a high of $1478 this week after last weekly high of $1487.
The 50-week SMA traded below the 100-week SMA indicating a weaker technical trend.
Gold has immediate support of 200-week SMA near $1440, breaking which it can test the support zone of $1400 - $1396 (including psychological level and a horizontal line support).
Breaking the aforesaid support levels, it can rest near $1350 and a fall below that level may result into near $1300 support (...
USD/JPY: Technical Outlook
May 09, 2013 - 09:57
Absence of major economic indicators from US and Japan resulted into little movement by USDJPY. During the week, the pair continued trading between 87 pip area of 99.44 - 98.57. It is currently trading near 98.70 level.
USDJPY marked high of 99.94 last month, highest level in almost three years with 95.79 being low of the month. The pair made high of 99.44 on Monday, highest level in May month which could not be sustained as it invariably fell to 98.57 on Wednesday.
From the current level, the pair is moving downward with support zone of...
GOLD: Current outlook
May 09, 2013 - 09:45
The recovery is still capped by the 1500.00 resistance, so we expect to see a bearish resumption towards the 1300.00 level, with a break below to open a door for a medium-term downside rally ahead of the 1000.00 level. Only a clear break and consolidation above 1500.00 would negate this scenario and confirm the uptrend towards the 100-Day SMA by 1580.00, the 1600.00 level or the 200-Day SMA by 1645.00.
Edward Smith, technical analyst of company Admiral Markets.
At any use of the analytical material taken from a...
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