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CURRENCIES TECHNICAL ANALYSIS October.6

Euro

The pro-dollar sentiment prevails keeping the spot around fresh lows on Friday. Sellers reached 1.1700 and took a breather to gather fresh steam. The resistance resides at 1.1750 , the support comes in at 1.1700.

A move below 1.1700 would revive bearishness towards 1.1650.

 

Pound

The pound continues suffering the persistent weakness. Sellers broke 1.3100 in the Asian session and advanced to 1.3050 afterwards. The resistance lies at 1.3100, the support comes in at 1.3000.

Taking into the consideration the oversold readings we expect a rebound and a move towards 1.3150.

 

USD/JPY

The USD/JPY pair remained in a familiar range on Friday. Buyers pushed the price to the upper limit of the range and tried to regain the level during the European hours on Friday. The resistance lies at 113.00, the support comes in at 112.00.

Should the US dollar recover ground and advance beyond the immediate resistance, the rally can extend in the short term up to 113.25.

 

GBP/JPY

The pound was neutral during the night after a recent drop. Sellers pushed the spot to the 148.00 region on Thursday where the pair spent the night and the European morning. Bears continued their slide in the mid-European session and brought the price to 147.50 ahead of the NY opening. The resistance lies at 148.00, the support is at 147.00.

If a negative tone remains intact a bearish continuation below 148.00 should lead to a continued slide, with 147.00 as the first probable target.

 

EUR/JPY

Sellers found a decent support at 132.00. The pair bounced from the level and reversed a minor part of their recent losses. Buyers were able to push the spot to 132.20. The resistance lies at 132.50, the support is at 132.00.

Sellers’ attempt to reclaim 132.00 points to a further period of downside to come. In the event that the bears manage to force the below 132.00 they would aim at 131.50.

 

USD/CAD

USD/CAD maintains trade in the green zone on Friday. The spot reached 1.2600 in the night and stayed around fresh session peaks afterwards. The resistance is at 1.2600, the support stands 1.2500.

Should 1.2600 be regained successfully, a further extension towards 1.2650 could be observed further.

 

DAX

DAX holds a bullish tone on Friday. The index keeps flirting with the 13000 today. The resistance lies at 13000, the support exists at 12900.  

If the market positive mood persists the DAX index may continue its advance north. In the scenario where the buyers keep control the benchmark reclaims the current resistance and moves towards 13050.

 

NASDAQ

The bullish market structure remained in place on Friday. The index was flat in the Asian and the European sessions resting after Thursday's rally. Buyers pushed the price to 6065 where NASDAQ spent the first part of the day. The resistance lies at 6080, the support exists in at 6040.

The index is likely to continue its rally. The first buyers’ target is the level 6080.

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