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Market Analysis for October 13th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1400, 1.1450, 1.1520
Support: 1.1300, 1.1280, 1.1230, 1.1200
Daily Bias: Bearish. Looking for a pullback to sell. Price tested the top of the range but failed to hold above.

Daily Pivot: 1.1369
R1: 1.1385 S1: 1.1342
R2: 1.1412 S2: 1.1326
R3: 1.1428 S3: 1.1298

 

oct 12 GBPUSDDaily

 

Previous Day Highs/Lows

Date High Low
Oct. 12 1.1396 1.1355
Oct. 9 1.1386 1.1266
Oct. 8 1.1325 1.1234

 

Potential Pullback levels:

1.1380 – R1 level, S&R, previous day high, midpoint of the weekly pivot

1.1400 – previous day’s high, S&R

1.1450 – strong S&R, 138% fib extension of the daily move

Potential Targets:

1.1320 – strong S&R, 61.8% fib retracement level of the previous move, S2 level, high of Oct. 8th

1.1300 – strong S&R, 78.9% fib retracement of the previous move, S3 level , weekly pivot point

 

Pair: GBPUSD

Resistance:  1.5480, 1.5420, 1.5380, 1.5350
Support: 1.5280, 1.5180, 1.5100
Bias: Bearish. Looking for a pullback to sell. Price is showing a topping formation. Price tested the high at 1.5380 several times but failed to hold above.

Daily Pivot: 1.5343
R1: 1.5376 S1: 1.5313
R2: 1.5406 S2: 1.5279
R3: 1.5440 S3: 1.5249

 

Previous Day Highs/Lows

Date High Low
Oct. 12 1.5373 1.5308
Oct. 9 1.5382 1.5299
Oct. 8 1.5371 1.5260

 

Potential Pullback levels:

1.5350 – daily pivot, strong S&R, 78.9% fib retracement level of the previous move

1.5380 – strong S&R, previous day high, R1

Potential Targets:

1.5320 – S1 level, strong S&R, previous day’s low

1.5280 – strong S&R, low from friday, 78.9% fib retracement of the previous move, S2 level. Weekly pivot point

1.5250 – strong S&R, 127% fib extension of the previous move,S3 level

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