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Market Analysis for October 1st, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1280, 1.1330, 1.1370, 1.1400, 1.1470
Support: 1.1150, 1.1100, 1.1080, 1.1020
Daily Bias: Bearish. The price rejected the 1.1250 level and closed bearish. Looking for a pullback and move to the downside

Daily Pivot: 1.1197
R1: 1.1238 S1: 1.1134
R2: 1.1302 S2: 1.1093
R3: 1.1342 S3: 1.1030

 

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Previous Day Highs/Lows

Date High Low
Sept 30 1.1260 1.1156
Sept 29 1.1280 1.1192
Sept 28 1.1247 1.1146

 

Potential Pullback levels:

1.1200 – previous day’s S1 level,  daily Pivot, 38.2% fib retracement of the daily move

1.1240 –S&R, 78.9% retracement level of the daily move, previous day’s daily pivot, today’s R1 level

1.1180 – S1 from day before, S&R., 23% fib retracement of the daily move, 38% retracement of the overall move

Potential Targets:

1.1120 – S&R, swing low from Sept. 25th, S1 level from Sept. 28th, 138% extension of the daily move, previous day’s S3

Pair: GBPUSD

Resistance: 1.5170, 1.5200, 1.5240, 1.5200
Support: 1.5080, 1.5050, 1.500
Bias: Bearish. The price rejected the previous day high and closed below the previous low, giving us a bearish directional bias on the GBPUSD.

 

Daily Pivot: 1.5148
R1: 1.5191 S1: 1.5083
R2: 1.5256 S2: 1.5041
R3: 1.5298 S3: 1.4976

 

Previous Day Highs/Lows

Date High Low
Sept 29 1.5211 1.5106
Sept 29 1.5204 1.5128
Sept 28 1.5240 1.5156

 

Potential Pullback levels:

1.5200 – previous 2 days’ high, S&R, daily pivot for Sept. 28 & 29, R1and 78.9% retracement of the daily move

1.5150 – daily pivot, 38% retracement of the daily move, S&R

Potential Targets:

1.5180 – S&R, previous day’s S2, S1 level, 127% extension of the daily move, previous day’s S3

1.5050 – S2 level, previous day’s S3, 161.8% extension of the daily move

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