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CURRENCIES TECHNICAL ANALYSIS October.27

Euro

EUR/USD closed the day in green figures yesterday. The pair strengthened and broke above previous day’s top. The EUR/USD pair rallied towards 1.0950. However, buyers failed to push the price higher, the upward momentum faded a few pips below the level. The resistance is seen at 1.0950, the support stands at 1.0900.

If bulls retain control they will be able to break the current resistance. After breaking the level the price will be able to move higher towards 1.1000.
27_10_2016_eurusd
Pound

Bulls temporally fought back control over the market. Buyers pushed the price higher. The GBP/USD broke 1.2200 and now seems to be heading towards its immediate resistance near 1.2300. The current resistance is seen at 1.2300, the support lies at 1.2200.

The main buyers' goal is the level at 1.2300. If bulls lose control sellers will return the pair below 1.2200.
27_10_2016_gbpusd
Yen

The market was neutral and fairly balanced on Wednesday. Sellers met a barrier around 104.00 which stopped its further weakening. The pair bounced from the level in the North American session. The USD/JPY moved higher and reversed some of its losses. The resistance is at 104.50, the support comes in at 104.00.

The pair may extend its recovery. In this potential scenario buyers will move above 104.50 and will lead the prices higher towards 105.00.

27_10_2016_usdjpy

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