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CURRENCIES TECHNICAL ANALYSIS October.27

Euro

The EUR/USD pair returned to the red figures. The sharp sell-off stalled few pips above 1.1600. The pair spent the night and the whole European session hovering above the level. The resistance resides at. 1.1650, the support comes in at 1.1600. The pair is oversold and requires some correction. Buyers may drive the spot to the 1.1650-1.1670 region.

 

Pound

The GBP/USD pair maintained its offered tone on Friday. The pound is quite after the Thursday's sell-off and stays not far from 1.3100. The resistance lies at 1.3200, the support comes in at 1.3100. Buyers have a chance to reverse some losses and may push the spot to 1.3200 in the upcoming sessions.

 

USD/JPY

USD/JPY's buying pressures are back. The spot jumped to new highs on Thursday. The spot broke 114.00 and stayed above the handle after that. A bout of fresh selling pressure emerged in the morning and dragged the pair to 114.00. The resistance lies at 115.00, the support comes in at 114.00. Sellers may regain some lost ground and push the US dollar to 113.50 in the coming hours.

 

GBP/JPY

A selling interest returned to the market. The GBP/JPY pair caught a new ask-wave and decline to 149.00 where was stopped and faced some buying rejection. The resistance lies at 150.00, the support is at 149.00. The 149.00 handle gets support from the 50, 100 and 200 EMAs which lie in this region. If sellers break through these lines nothing could stop it from further losses. In this potential scenario the spot may ease to the 146.80-146.50 region.

 

EUR/JPY

Fresh selling pressure around the euro boosted EUR/JPY to fresh lows. The pair sharply fell on Thursday and broke through a bunch of level. Sellers dragged the spot through 134.00, 133.50, 133.00 and stopped at 132.50. The last handle not only stopped but also rejected the pair which slightly grew and reversed a minor portion of its losses. The resistance lies at 133.00, the support is at 132.50. Exhausted sellers took a breather. This is a good chance for buyers to reverse some ground. The pair tested the lower limit of the upward channel and if buyers find enough strength they could return the pair into the range.

 

USD/CAD

A fresh upbeat tone helped the US dollar to conquer new highs. USD/CAD pushed away from the level 1.2800 and moved to 1.2870. Buyers took a pause allowing sellers to reverse some losses. The resistance is at 1.2900 the support stands 1.2800. Taking into consideration the overbought reading we expect a pull back and return to the 1.2800 region.

 

DAX

DAX had a positive start to the day. The index gapped upwards and extended its gains afterwards. Buyers drove the index to 13200, broke the level and rove the spot to 13240 afterwards. The resistance lies at 13300, the support exists at 13200. If the bullish tone persists we expect a test of the level 13300 in the coming days.

 

S&P500

S&P500 bounced off the lower limit of the ascending channel and reversed the half of its recent losses. The benchmark recovered to 2570 and stayed at the level afterwards. The resistance lies at 2570, the support exists in at 2560. We believe buyers will keep pushing the index upwards and will reverse all its losses in the near term. But first buyers need to retake the immediate resistance.

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