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CURRENCIES TECHNICAL ANALYSIS October.07

Euro

The EUR/USD finished the day in the red figures. The euro was declining the whole day and reached the level 1.1150 in early Asia. The resistance is seen at 1.1200, the support stands at 1.1150.

We will keep selling the euro if the pair fixates below 1.1150. However, the pair is oversold and may roll back to consolidate its gains. In this scenario, buyers will lead the price towards 1.1200.
07_10_2016_eurusd
Pound

The GBP/USD pair maintained its bearish tone. After short consolidation during the Asian session sellers pushed the price lower. The pound tested the level 1.2600 by the end of trades. The current resistance is seen at 1.2700, the support exists at 1.2600.

A break below 1.2600 may trigger the next leg of the downward move for the pair. Should that level break down sellers will lead the price towards 1.2500. On the other hand, we do not exclude a recovery to 1.2750.
07_10_2016_gbpusd

Yen

The USD/JPY pair remained in an upward channel. Buyers controlled the market and pushed the price higher above the previous day’s top. The dollar was able to escalate to 104.30. The resistance is at 104.30, the support comes in at 103.50.

If the price does make breakout of the level 104.30 the pair will move towards 104.50. A move below 103.50 will trigger a downtrend.

07_10_2016_usdjpy

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