19/01/2015
EURUSD
After reaching its lowest point since November 2003 on Friday, the EURUSD has gained 83 pips thus far today. It has, since its downward turn in May 2014, continuously dropped without prevail. However experts are waiting for the USD to lose momentum and for the EUR to rebound towards its 1.1730 target resistance following the next ECB policy announcement. If the EURUSD manages to surpass this target it will likely find its second target of 1.1866.
However for the short term the Euro will likely find its support at 1.1450, pushing past the critical 1.1500 mark.
AUDUSD
The AUDUSD has rebounded against its US counterpart following a bumpy ride down to its lowest position since July 2009. The currency pair found its lowest trading price of the month at 0.8012, producing a hammer candlestick before starting its bullish run. As with the Euro, traders are expecting the AUDUSD to continue gaining towards its first target of 0.8340 on its way to its second resistance target of 0.8470. However the currency pair could first meet its support of 0.8075.
In all, graphs are indicating that the USD is expected to decline against its major peers following a bullish run.
GOLD
After finding its lowest position since April 2010, Gold has held a steady 3 weeks of gains towards its current position of 1276.34. Gold is expected to continue rising given the precious metal’s close ties with the Swiss Franc which had its cap unexpectedly removed on Thursday. If Gold reached its first target of 1310, it could continue towards its second resistance of 1374. However the price of Gold could see a lower trading position of 1213.30 before attempting its climb.
