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Market Analysis for October 23rd, 2015

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Technical Analysis

eur – bearish

Daily Pivot: 1.1186
R1: 1.1272 S1: 1.1021
R2: 1.1437 S2: 1.0934
R3: 1.1524 S3: 1.0769

Daily High – 1.1348

Low – 1.1098

Potential Pullback levels:

1.1180 – pivot – 38.2 fib of daily move

1.1200 – 50% fib of daily move – strong s and r

1.1280 – r1 – weekly s1, 78.9 ret. of daily (apex ) prev day s3

Potential Targets:

1080 – low of day – strong s and r on daily

1020 level – , s1 – 127% fib ext – very strong daily sup and res

Pair: GBPUSD – Bearish

Daily Pivot: 1.5422
R1: 1.5457 S1: 1.5340
R2: 1.5558 S2: 1.5286
R3: 1.5611 S3: 1.5204

Daily High – 1.5503

Low – 1.5368

Potential Pullback/target levels:

5420 level – pivot – 38.2 fibbs of daily move –

5440 level – strong s and r – 50 % fib of daily move

Potential Targets:

5380 level – prev day low – weekly pivot, strong s and r

5340 level – s1, strong s and r, 127% fib ext of daily move

5280 level – s2, 161% of daily move and strong s and r

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