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CURRENCIES TECHNICAL ANALYSIS October.06

Euro

The euro was positive during the day. The price recovered after Tuesday’s drop. The EUR/USD pair turned around ahead of the US opening. The price decreased and briefly returned below 1.1200. The resistance is seen at 1.1200, the support stands at 1.1150.

A close below 1.1200 will trigger losses towards 1.1150. Buyers have a chance to lift the price as long as the pair is above 1.1200.
06_10_2016_eurusd
Pound

A bearish tone prevails in the 4 hours chart. Sellers hold the pair onto recent lows during the Asian and European sessions on Wednesday. The GBP/USD slightly recovered from the level 1.2700 in the North American session. The current resistance is seen at 1.2800, the support lies at 1.2700.

The trend is still bearish. However, the pair may recover towards the 1.2800 – 1.2850 region. It is a good opportunity to place sell orders there. The next sellers’ target is the level 1.2700.
06_10_2016_gbpusd
Yen

Buyers continued to dominate in the market. The price extended its gains yesterday. The pair grew and was able to test the level 103.50. The resistance is at 103.50, the support comes in at 102.50.

If the level 103.50 remains unbroken the price will roll back to 102.80. A break above this level risks a growth towards the mark 104.00.

06_10_2016_usdjpy

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