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Market Analysis for October 8th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1280, 1.1300, 1.1330, 1.1370, 1.1400
Support: 1.1200, 1.1180, 1.1150
Daily Bias: Bullish to neutral. Price went to the top of the range and bounced off. However, we do have rejection of the bottom which would mean a potential move up. Looking for a pullack to go long.

Daily Pivot: 1.1244
R1: 1.1277 S1: 1.1204
R2: 1.1317 S2: 1.1171
R3: 1.135o S3: 1.1031

 

Oct 8 EURUSDDaily

 

Previous Day Highs/Lows

Date High Low
Oct. 6 1.1283 1.1210
Oct. 5 1.1289 1.1173
Oct. 2 1.1317 1.1149

 

Potential Pullback levels:

1.1200/20 – strong S&R, 100/23% fib retracement level of the daily move, S1

Potential Targets:

1.1280 – strong S&R, daily high, R1 level, high of the range, R2

Pair: GBPUSD

Resistance:  1.5368, 1.5420, 1.5460
Support:  1.5300, 1.5240, 1.518
Bias: Bullish. Looking for a pullback to buy.

Daily Pivot: 1.5290
R1: 1.5265 S1: 1.5243
R2: 1.5306 S2: 1.5170
R3: 1.5485 S3: 1.5122

 

Previous Day Highs/Lows

Date High Low
Oct. 7 1.5338 1.5217
Oct. 6 1.5242 1.5139
Oct. 5 1.5244 1.5136

 

Potential Pullback levels:

1.5250 –strong S&R, 78.9% fib retracement of the daily move, S1, previous day’s high

1.5300– strong S&R, 38.9% fib retracement level of the daily move, S1, daily pivot

Potential Targets:

1.5350 – strong S&R127% fib extension of the daily  move, R1 level

1.5412 – strong S&R, 161% fib extension of the daily move, R2 level

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