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CURRENCIES TECHNICAL ANALYSIS October.05

Euro

The pair traded in the red figures on Tuesday. The euro has been decreasing the second day in a row. Sellers led the price from the level 1.1250 to 1.1150 where the selling pressure weakened. The resistance is seen at 1.1200, the support stands at 1.1150.

A move below 1.1150 will indicate a resumption of a downtrend. If the EUR/USD pair manages to break above 1.1250, buyers may lead the price towards 1.1270 – 1.1300.
05_10_2016_eurusd
Pound

The pound remained in a descending channel on Tuesday. The price moved lower and was able to reach the 31-yeal lows. The current resistance is seen at 1.2800, the support exists at 1.2700.

To trigger additional downward movement the price needs to break the level – 1.2700. The pair is oversold and we expect an upward correction towards 1.2850.
05_10_2016_gbpusd
Yen

The dollar extended its strength on Tuesday. The pair grew and broke above the previous day top. The USD/JPY broke 102.50 and headed towards the 103.50 level. The resistance exists at the level 103.50, the support comes in at 102.50.

If the pair keeps climbing, the price will reach the level 103.50 in the nearest time.

05_10_2016_usdjpy

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