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Market Analysis for October 14th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1450, 1.1520, 1.1560
Support: 1.1350, 1.1320, 1.1280, 1.1230
Daily Bias: Neutral. The price shows some rejection at the 1.1400 level. However, it has been holding the highs which makes it vulnerable to a move higher, potentially to 1.1450 level or higher.

Daily Pivot: 1.1377
R1: 1.1411 S1: 1.1344
R2: 1.1444 S2: 1.1310
R3: 1.1478 S3: 1.1277

Oct14 GBPUSDDaily

 

Previous Day Highs/Lows

Date High Low
Oct. 13 1.1410 1.1342
Oct. 12 1.1396 1.1355
Oct. 9 1.1386 1.1266

 

Potential Pullback levels/Targets :

1.1350 – S1 level, S&R, previous day’s low. If the price holds above this level, we’re looking for a potential move to the upside, targeting 1.1410 and potentially to R2 at 1.450

1.14010 – previous day’s high, S&R, R1 level. If the price stays below/rejects this level, we could see a move lower to 1.1320. However, if the price holds above this level, we’re looking for a potential move to 1.1450 or 1.1520

Pair: GBPUSD

Resistance:  1.5300, 1.5380, 1.5450
Support: 1.5200, 1.5180, 1.5100
Bias: Bearish. Looking for a pullback to sell.

Daily Pivot: 1.5278
R1: 1.5356 S1: 1.5168
R2: 1.5465 S2: 1.5090
R3: 1.5543 S3: 1.4981

 

Previous Day Highs/Lows

Date High Low
Oct. 13 1.5387 1.5199
Oct. 12 1.5373 1.5308
Oct. 9 1.5382 1.5299

 

Potential Pullback levels:

1.5280 – strong S&R, daily pivot, 38.2% retracement of the daily move

1.5300 –strong S&R, 50% fib retracement of the previous move

1.5350 –strong S&R, 78.9% fib retracement of the previous move, R1, previous day’s pivot

Potential Targets:

1.5200 –strong S&R, previous day’s low

1.5150 – strong S&R, 127% fib extension of the previous move

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