Intraday Market Analysis: FX and Commodities

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USDJPY, Crude oil and Gold Analysis

Following the recent events in Greece and our great success in EURUSD and EURJPY trade alerts we release our intraday market analysis for multiple currency pairs. The intraday market analysis is based on the 4hr chart where we provide our technical insights on a spectrum of financial instruments.

The majority of the intraday market strategies is based on price action although on several occasions we use technical indicators to support our bearish or bullish outlooks.

USDJPY, Crude oil and Gold intraday strategies are now available to all traders. When the analysis was released it was only available to traders that have signed for our forex intraday strategies in ‘Membership Plans.’

USDJPY Technical Analysis

USDJPY 4hr Chart

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USDJPY 4hr chart, 30/06/15

USDJPY 4hr chart, 30/06/15

USDJPY is held in a tight range, 122.38 – 124.28. The price has found support at 122.28, which suggest corrective gains are due for Dollar yen. However, we are uncertain a firm correction will take place towards 124.28 at fairly strong resistance is noted at 123.22.

The technical strategy for USDJPY is to wait for a re-test of 123.22 and note whether a firm breakout has taken place. Should the price fail to break above the resistance sell-on-dips strategies may be seen in the market. Alternatively, a firm break above 123.22 paves the way for further gains towards 124.28.

US Crude Oil Technical Analysis

Crude Oil 4hr Chart

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Crude oil 4hr chart, 30/06/15

Crude oil 4hr chart, 30/06/15

Upon breaking below the support line (in orange) and a successful re-test, crude oil losses continued uninterrupted. The initial objective of the breakout lies at 57.90. Upon a successful re-test of 57.90 minor gains may be seen towards 59.15, which is the key intraday level in crude oil. Even if a re-test of 57.90 did not take place, a re-test and a failed attempt to break above 59.15 may indicate the resumption of the downtrend towards 57.90.

Although a break below 57.90 may trigger further selling in crude oil, the odds for corrective gains upon the bearish breakout are relatively high. In a scenario where the 57.90 support give way, a re-test of 56.74 is required, which would then indicate corrective gains are due.

Gold Technical Analysis

XAU/USD 4hr Char

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Gold 4hr chart, 30/06/15

Gold 4hr chart, 30/06/15

Gold gapped higher at the opening of the markets following the weekend breaks,  bragging on its safe-have qualities that were almost completely corroded since the Quantitative Easing (QE) operations began. Strong resistance is noted on the 4hr chart (in orange) but the trend appears to be fairly bullish. The minor support at 1,175.00 may very well welcome with open arms the market bulls.

A firm breakout above the resistance is required in order to sustain the gains towards 1,195.40. Based on prior breakouts we would expect a swift bullish wave to carry the price towards its target upon a successful breakout. Key support is noted at 1,169.30.

USDJPY Intraday Strategy Outcome

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USDJPY 4hr chart outcome, 30/06/15

USDJPY 4hr chart outcome, 30/06/15

Crude oil Intraday Strategy Outcome

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Crude_oil_4hr_chart_outcome_30_June_2015

Gold Intraday Strategy Outcome

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Gold 4hr chart outcome, 30/06/15

Gold 4hr chart outcome, 30/06/15

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