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Daily Analysis – Oct. 14th, 2014

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Daily Analysis – Oct. 14th, 9:30am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2670, 1.2700, 1.2729, 1.2783
Support:  1.2594, 1.2507, 1.2410
Bias: Down. Negative news out of the London session caused the move down. I expect further downside. However, price to may move up to test the previous resistance levels at 1.2670 or 1.2700 before continuing the move down.

Pair: GBPUSD

Resistance: 1.5953, 1.600, 1.6020, 1.6100
Support:  1.5884, 1.5800, 1.5730
Bias: Down. Strong move down for GBP in the London session leading to a price gap down. The price may move up to test the previous support area around 1.5953 or move up to fill the gap to 1.600 or 1.6020 before  continuing the move down. However, the price is sitting heavy and may just continue down.

Fundamentals

No High Impact News scheduled for today:

Indices and Commodities

DOW – down – 16,321.07
S&P500 – down – 1,874.74
Nasdaq – down – 4,213.66
Nekei – down – 14,936.51
FTSE100 – up – 6,373.61
DAX – down – 8,806.79

Gold – up  – $1,235.80
Oil – down – $84.90

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