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Market Analysis for October 2nd, 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: Bullish. EUR has formed a range over the last few days. It rejected the bottom of the range and now looking for a move to the upside.

Daily Pivot: 1.1179
R1: 1.1223 S1: 1.1149
R2: 1.1253 S2: 1.104
R3: 1.1298 S3: 1.1074

 

Oct 2 EURUSDDaily

 

Previous Day Highs/Lows

Date High Low
Oct 1 1.1208 1.1134
Sept 30 1.1260 1.1156
Sept 29 1.1280 1.1192

 

Potential Pullback levels:

1.1180 – Daily Pivot, S&R, 38% retracement of the overall move

1.1150 – 78.9% retracement of the daily move, S1 level, previous day low

Potential Targets:

1.1220 – S&R, R1 level, 127% extension of the daily move

1.1250 –R2 level, S&R, 161.8% extension of the daily move, 78% retracement of the previous swing move down

1.1300 – top of the range, S&R, R3

Pair: GBPUSD

Resistance: 1.5170, 1.5200, 1.5240, 1.5200
Support: 1.5080, 1.5050, 1.500
Bias: Neutral. The price has compressed into the bottom with multiple rejections into the 1.5200 area. However, it has failed to move below 1.5100. It’s holding the level prior to the news. We are open to moves on either side based on the news.

 

Daily Pivot: 1.5138
R1: 1.5171 S1: 1.5097
R2: 1.5212 S2: 1.5065
R3: 1.5244 S3: 1.5023

 

Previous Day Highs/Lows

Date High Low
Oct. 1 1.5180 1.5106
Sept 29 1.5211 1.5106
Sept 29 1.5204 1.5128

 

Potential Pullback levels (for the move down):

1.5212 – previous day high, S&R, R2 level, 13.2% extension of the daily move

1.5180 – previous day high, major S&R, double bottom

Potential Targets:

1.5100 – S&R, previous 2 days low

 

Potential Pullback levels (for the move up):

1.5120 – 78.9% retracement of the previous day’s move, S&R,

1.5100 – S&R, previous 2 days low

Potential Targets:

1.5050 – S&R, S2, 161.8% extension level of the daily move

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