Euro broke 1.3330 support and continued its fall to test1.3300. Afterwards it retraced back up to 1.3345 and now looks back on its wayto test 1.3300 again. So currently our outlook switches to bearish as long astrading stays below 1.3370. The dollar rose against major rivals Wednesday,holding on to gains as investors continued to worry about a possible militarystrike in Syria. U.S. Fed is likely to slow its monthly bond purchases andperhaps even raise interest rates. Currencies tend to sell off in periods ofglobal risk aversion or rising U.S. interest rates
Res: 1.3370, 1.3410,1.3450, 1.3480
Sup1.3300, 1.3260, 1.3230, 1.3300
Sterling continued its current downtrend breaking 1.5490support and falling further to test 1.5420. Since it has retraced back upalmost 100 pips testing key pivot point 1.5555, which if successful willreverse our outlook to bullish. Englandís central bank said it stands ready tostep up stimulus efforts if rising interest rates threaten economic recovery inBritain. It emphasized that the previously mentioned 7% unemployment rate is athreshold, not trigger, for raising UK interest rates
Res: 1.5555, 1.5600,1.5640, 1.5700
Sup: 1.5480, 1.5420, 1.5375. 1.5300
The USDJPY on the H1 chart made a complete reversal of theprevious downtrend. Among the signs was that head and shoulders patterns afterhitting a low of 96.80, and it later continued to rise to break the downwardchannel and rise above the 55 exponential moving average, breaking 2resistances on its way 97.40 and 97.70. So our current outlook is bullish aslong as trading is maintained above 97.15 with our first target at 98.00. MostAsian stocks advance, tracking a rebound on Wall Street, with the energy sectorparticularly strong after U.S. benchmark crude-oil prices top $110-a-barrelovernight
Res: 98.00 98.40,98.75, 99.15
Sup: 97.40, 97.15,96.80, 96.40,
We didnít see any major moves on the Aussie as compared tothe other currencies, however we did see it test 0.8900 twice but fail to breakit, proving itself a strong support. Currently itís trading close topsychological 0.9000 resistance and we will monitor if it will be able to breakit as it already failed once before. If it does break it this leaves 0.9040 and0.9100 targets in view.
Res: 0.9000, 0.9040,0.9100, 0.9130
Sup:, 0.8900, 0.8845, 0.8800, 0.8769
After achieving an uptrend high of 1433, gold has dropped 27dollars so far breaking 1413 support and is currently testing 1405. If it doesbreak that support then we will not just consider it a retracement but a fullreversal of the uptrend on the H1 chart. The drop comes with a gain in the U.S.dollar on Syria-related concerns tugging at prices after they climbed to theirbest levels in nearly three months.
Res: 1422, 1433,1445, 1455,
Sup: 1405, 1390,1378, 1370