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CURRENCIES TECHNICAL ANALYSIS October.20

Euro

The pair remained in red figures and continued to advance south. Sellers pushed the price downwards towards the 1.0950 level on Wednesday. The price tested the level and slightly rolled back after that. The resistance is seen at 1.1000, the support stands at 1.0950.

The bearish trend remained intact. If the price breaks the level 1.0950 the EUR/USD pair will fall to 1.0900.
20_10_2016_eurusd
Pound

Bulls temporally fought back control over the market. After reaching the level 1.2300 the pair consolidated its gains, trading sideways. The GBP/USD spent the whole day at the 1.2300 level. The current resistance is seen at 1.2300, the support lies at 1.2200.

The overall tone remained bearish despite the recent bullish spike. We believe sellers will try to push the price lower soon. If they succeed the pair will fall to the monthly low at 1.2100.
20_10_2016_gbpusd
Yen

The USD/JPY remained in bears' hands yesterday. The pair continued to head lower and met a barrier in the 103.00 region. After testing the level the pair bounced off the level and closed the day above it. The resistance is at 104.00, the support comes in at 103.00.

If the price overcomes 103.00 we will neutralize our medium term positive outlook. After breaking the level the USD/JPY pair will decline to 102.50.

20_10_2016_usdjpy

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