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Market Analysis for October 6th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1200, 1.1280, 1.1330, 1.1370, 1.1400, 1.1470
Support: 1.1180, 1.1150, 1.1100, 1.1020
Daily Bias: Bearish. Looking for a pullback to sell.

Daily Pivot: 1.1216
R1: 1.1260 S1: 1.1143
R2: 1.1332 S2: 1.1100
R3: 1.1376 S3: 1.1027

 

Oct 6 EURUSDDaily

Previous Day Highs/Lows

Date High Low
Oct. 5 1.1289 1.1173
Oct. 2 1.1317 1.1149
Oct. 1 1.11208 1.1134

 

Potential Pullback levels:

1.1220 – daily pivot, strong S&R, 38.2% fib retracement of the daily move

1.1250/60 – strong S&R, 78.9% fib retracement level of the daily move, R1

Potential Targets:

1.1150/40 – strong S&R, previous 2 days low, 127% fib extension of the daily  move, S1 level

1.1100 – strong S&R, current swing low, 161% fib extension of the daily move, S2 level

Pair: GBPUSD

Resistance:  1.5200, 1.5220, 1.5250, 1.5300
Support: 1.510, 1.5050, 1.5000
Bias: Bearish. Looking to sell the rallies for a move to the bottom of the range at 1.5100.

Daily Pivot: 1.5175
R1: 1.5214 S1: 1.5105
R2: 1.5283 S2: 1.5067
R3: 1.5322 S3: 1.4997

 

Previous Day Highs/Lows

Date High Low
Oct. 5 1.5244 1.5136
Oct. 2 1.5236 1.5124
Oct. 1 1.5179 1.5105

 

Potential Pullback levels:

1.5175 – daily pivot, strong S&R, 38.2% fib retracement of the daily move

1.5220 – strong S&R, 78.9% fib retracement level of the daily move, R1

Potential Targets:

1.510/40 – strong S&R, previous 2 days low, 127% fib extension of the daily  move, S1 level

1.5067 – strong S&R, current swing low, 161% fib extension of the daily move, S2 level

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