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Market Analysis for September 17th, 2015

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Technical Analysis

Pair: EURUSD

Resistance:1.1300, 1.1360, 1.1400, 1.1470, 1.1560, 1.1714
Support:1.1214, 1.1170, 1.1080
Daily Bias: Neutral to Bullish. Price rejected the 1.1213 level on weak US data. Looking for a pullbacks to trade higher. The market may consolidate going into FOMC later today. Expect low liquidity in the market and sharp moves at the time of Fed statement. Trade with caution.

Looking for pullbacks to potentially 1.1274, or to the previous day low of 1.1214.
Confluence at 1.1273 level which is also the 38% fib level. Another confluence at 1.1235, aprex7p trade and S1 support.

Daily Pivot: 1.1273
R1: 1.1335 S1: 1.1227
R2: 1.1380 S2: 1.1169

 

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Previous Day Highs/Lows

Date High Low
Sept 15 1.1320 1.1213
Sept 14 1.1328 1.1260
Sept 13 1.1371 1.1283

 

Pair: GBPUSD

Resistance: 1.5560, 1.5600, 1.5680, 1.5814
Support:  1.5470, 1.5430, 1.5330, 1.5250, 1.5180
Bias: Bullish. Looking for a pullbacks to trade higher. The market may consolidate going into FOMC later today. Expect low liquidity in the market and sharp moves at the time of Fed statement. Trade with caution.

Potential pullback to 1.5470 or 1.5450 levels.
Confluence: 38% retracement level, previous day high and daily pivot. Also, at 1.5370, aprex79 trade & S1

Daily Pivot: 1.5449
R1: 1.5564 S1: 1.5369
R2: 1.5646 S2: 1.5251

 

Previous Day Highs/Lows

Date High Low
Sept 15 1.5524 1.5331
Sept 14 1.5470 1.5372
Sept 13 1.5473 1.5372

 

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