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CURRENCIES TECHNICAL ANALYSIS October.04

Euro

The EUR/USD pair extended its consolidation. The price went back and forth between the current support and the resistance. The resistance is seen at 1.1250, the support stands at 1.1200.

We will buy the euro if the price consolidates above 1.1250. If the EUR/USD breaks the support 1.1200 downwards the price will advance towards 1.1150.
03_10_2016 eurusd
Pound

The GBP/USD continued its bearish momentum. The pair opened the day with a gap on Monday. The price continued its decline during the day. Sellers broke the level 1.2900 and headed lower. The current resistance is seen at 1.2900, the support exists at 1.2800.

We believe that the pound will keep weakening towards the level 1.2800. We do not exclude a short-term bounce off to 1.2900.
03_10_2016 gbpusd

Yen

The recovery phase remained intact. The price kept climbing upwards during the day. The pair broke the level 101.40 and stopped at 101.60. The resistance is at 101.40, the support comes in at 100.40.

We prefer to stay neutral, waiting for new drivers.

03_10_2016 usdjpy

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