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CURRENCIES TECHNICAL ANALYSIS October.13

Euro

The euro failed to extend its upward trajectory. The pair turned around in the 1.1880 region and sharply dropped below 1.1850.  The spot extended its negative bias during the night and day trades and posted a fresh low at 1.1815. The resistance resides at 1.1850, the support comes in at 1.1800.

If the euro remains below 1.1850 sellers may extend their bearishness to 1.1800.

 

Pound

The pound sharply dropped but managed to reverse all losses immediately after the sell-off. Sellers led the spot to 1.3100 where the pair turned around and rallied back. Buyers returned the cable above 1.3200 and approached 1.3300. The resistance lies at 1.3300, the support comes in at 1.3200.

We await a break above the immediate resistance to trigger another leg higher. The pound may regain the 1.3300 hurdle in this case and may continue its advance up to 1.3350.

 

USD/JPY

We preserve our short-term bearish outlook for the pair. The US dollar had a negative start to the day and preserved its bearish tone during the course of night and day trades. Sellers led the spot to 112.00 where the pair found some bids and bounced off the level. The resistance lies at 113.00, the support comes in at 112.00.

Range trading is expected to continue today.

 

GBP/JPY

The buying pressure persists on Friday. The GBP/JPY pair keeps battling with 149.00 on Friday. The resistance lies at 149.00, the support is at 148.00.

A clear break above 149.00 would indicate that the bullish phase has resumed. Our profit targets will be 150.00 and 150.20.

 

EUR/JPY

The EUR/JPY was neutral during the night and turned bearish in the morning. The price sharply dropped to 132.50 and broke the level immediately after that. Sellers failed to stay below the level and the pair pulled back and returned above 132.50. The resistance lies at 133.00, the support is at 132.50.

We believe the downward pressure will remain intact. The 132.00 handle is a probable bearish target.

 

AUD/USD

The AUD keeps its bullish note intact on Friday. Buyers were pushing the price upwards the first part of the day and reached 0.7850 by noon. The resistance is at 0.7850, the support stands 0.7800.

We expect a further extension towards 0.7850-0.7874 in the upcoming days.

 

DAX

DAX preserved its neutral tone on Friday. The index is still in-between 13000 and 12900 moving up and down between the levels. The resistance lies at 13000, the support exists at 12900.  

The index is likely to stay within the current range today.

 

S&P500

S&P500 momentum is still positive. The index is at 2550 and keeps flirting with the level. The resistance lies at 2550, the support exists in at 2540.

The S&P500 index is likely to preserve its neutral stance today.

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