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CURRENCIES TECHNICAL ANALYSIS October.28

Euro

The euro closed bearish yesterday. The EUR/USD made another attempt to regain 1.0950. The price stopped a few pips below the level and turned around. The currency pair sharply dropped and returned to 1.0900. The resistance is seen at 1.0950, the support stands at 1.0900.

The exit from the current flat will determine further direction of the pair. A break above will lead the price towards 1.1000. A move below the current support risks a decline towards the 1.0850 level.
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Pound

The GBP/USD remained in a flat during the trading day. The price moved back and forth until it got under selling pressure at the start of the NY session. Sellers pushed the price below 1.2200 where the pair closed the day. The current resistance is seen at 1.2200, the support lies at 1.2100.

The overall tone remained bearish. Bears are trying to push the price lower. If they succeed their next target is the level 1.2100.
28_10_2016_gbpusd
Yen

The USD/JPY remained under buying pressure on Thursday. The pair made another upwards move and broke the level 105.00. The USD/JPY pair now seems to be heading towards its immediate resistance near 105.50.The resistance is at 105.50, the support comes in at 105.00.

The loss of the 105.00 level is now pointing to a further period of upward movement to come. The level 105.50 is the next buyers’ target.

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