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CURRENCIES TECHNICAL ANALYSIS October.2

Euro

The euro recovery stalled around 1.1830. Bulls did not find any reason to move the market higher and returned to 1.1800. Sellers regained the market after that and pushed the single currency lower. They were driving the market downwards the whole night and morning and touched 1.1750 in the early European session. The resistance resides at 1.1800, the support comes in at 1750.

If the EUR/USD pair breaks below 1.1750 it is likely to continue its decline towards 1.1700.

 

Pound

The pound turned bearish right after opening on Monday. The major left the 1.3400 region and edged lower. Sellers were able to test 1.3300 in the mid-European session. The pair continued its slide in the late European session. Sellers broke below 1.3300 and headed towards 1.3250. The resistance lies at 1.3300, the support comes in at 1.3200.

We believe sellers will remain in the driver’s seat. A move through 1.3300 should lead to a downward extension towards 1.3200.

 

USD/JPY

Bulls failed to reclaim 113.00 and retreated to the nearest support to gather fresh steam. Fresh bids around 112.00 pushed the US dollar again towards 113.00. Buyers, however, failed to reclaim the level and stayed around fresh peaks after that. The resistance lies at 113.00, the support comes in at 112.00.

The risk will remain towards the upside until the US dollar is above 112.00.

 

GBP/JPY

GBP/JPY continued its slow slide when sellers managed to leave the 151.00 hurdle and edged lower towards 150.00. The resistance lies at 151.00, the support is at 150.00.

If a selling trajectory remains in place a break below 150.00 could trigger further extension towards 149.00.

EUR/JPY

The pair was bullish last week. Buyers reversed a half of their early losses and ended the upside momentum at 133.00. The pair faced selling rejection around the level and declined to 132.50 during the night and morning sessions on Monday.  The resistance lies at 133.00, the support is at 132.50.

After posting fresh highs the spot may start a short-term correction. Sellers might aim at 132.00 now.

 

AUD/USD

A bout of fresh selling pressure weighed on the spot sending the price towards 0.7800. The spot met a decent obstacle at the level and pulled back after touching the handle. The resistance is at 0.7850, the support stands 0.7800.

We believe the selling pressure will increase in the coming sessions. Sellers will keep attacking 0.7800 until they break the level. A daily close below the handle will open the way towards 0.7750.

 

DAX

DAX gapped upwards at the daily open. The price jumped from 12825 towards 12900. The index tested the level but failed to reclaim it at once. Buyers had to give up their gains after unsuccessful attempt to break the level. As a result the benchmark edged to 12855.  The resistance lies at 12900, the support exists at 12800.  

We believe DAX will extend its near-term bullish momentum. Buyers will regain 12900 and will advance towards 13000 afterwards.

 

NASDAQ

NASDAQ gapped higher at the daily open. However, the buying momentum faded immediately after the jump. NSADAQ edged lower and closed the gap after that. As a result, the price returned to the opening prices where the index found fresh bids and returned to the growth. The resistance lies at 6000, the support exists in at 5960.

NASDAQ is likely to continue its growth and will regain the level 6000 in the coming sessions.

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