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Daily Analysis – Oct. 2nd, 2014

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Daily Analysis – Oct. 2nd, 9:00am EST

Technical Analysis

Pair: EURUSD

Resistance: 1.2685, 1.2714, 1.2757, 1.2829, 1.2883
Support:  1.2515, 1.2580, 1.2410, 1.2294
Cycle: Down. Level 3 consolidation. A possible short opportunity once things settle down after the news.
Bias: Down

Pair: GBPUSD

Resistance: 1.6180, 1.6226, 1.6250, 1.6280, 1.6330
Support:  1.6165, 1.6069
Cycle: Level 1 down
Bias: Down. GBP stayed in Level3 consolidation yesterday and made the first move down this morning. May see an opportunity for a move down after retracement up.

Fundamentals

High Impact News scheduled:

  1. ECB Press conference – 8:30am
  2. US Unemployment claims – 8:30am
  3. Factory orders – 10:00am

Indices and Commodities

DOW – down – 16,804.71
S&P500 – down – 1,946.16
Nasdaq – down – 4,422.08
Nekei – down – 15,661.99
FTSE100 – down – 6,537.81
DAX – down – 9,363.39

Gold – down  – $1210.70
Oil – down – $89.47

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