Ivan Delgado
Independent Analyst
EUR/USD Current price: 1.3319
View Live Chart for the EUR/USD_20130121033149.gif "s")
Further consolidation ensued in the session, with the EURUSD failing to advance above the 1.3400 psychological figure. The decline has increased the probability of a near term decline. However, the notion remains contingent on a break of the 1.3270 initial support level.
Support levels: 1.3290 1.3250 1.3220
Resistance levels: 1.3350 1.3375 1.3400
GBP/USD Current price: 1.5947
View Live Chart for the GBP/USD (select the currency)_20130121033213.gif "s")
Plunging through 1.6000 support, GBPUSD dropped to close below the 1.5900 figure on the day. Price action is now set to test 1.5806 support, which is being reinforced by additionally support via the 1.5840 figure. The setup should portend a near term correction in the major.
Support levels: 1.5820 1.5770 1.5720
Resistance levels: 1.5885 1.5915 1.5950
USD/JPY Current price: 89.60
View Live Chart for the USD/JPY (select the currency)_20130121033226.gif "s")
An extension towards subsequent resistance at 90.50 is anticipated for USDJPY, now that the pair has traded through the 90.00 figure. However, a slight retracement to 89.16 support can’t be ruled out – given the rather short consolidation witnessed at the end of last week.
Support levels: 89.40 89.00 88.60
Resistance levels: 89.80 90.00 90.20
AUD/USD: Current price: 1.0520
View Live Chart for the AUD/USD (select the currency)_20130121033337.gif "l")
Breaking near term support via the 1.0544 figure, AUDUSD has moved lower to test 1.0500. Downside penetration of the figure would prompt a decline to initial support via the 1.0464 level.
Support levels: 1.0490 1.0450 1.0430
Resistance levels: 1.0520 1.0550 1.0580
New to Forex? Visit our Glossary!Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
EUR/USD declines below 1.0700 as USD recovery continues
EUR/USD lost its traction and declined below 1.0700 after spending the first half of the day in a tight channel. The US Dollar extends its recovery following the strong Unit Labor Costs data and weighs on the pair ahead of Friday's jobs report.
GBP/USD struggles to hold above 1.2500
GBP/USD turned south and dropped below 1.2500 in the American session on Thursday. The US Dollar continues to push higher following the Fed-inspired decline on Wednesday and doesn't allow the pair to regain its traction.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.