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Market Analysis for September 18th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1438, 1.1480, 1.520, 1.1560
Support: 1.1360, 1.1300, 1.1400, 1.1214, 1.1170, 1.1080
Daily Bias: Bullish. Daily bias is to the upside. Price moved up due to –ve USD sentiment as Fed didn’t raise interest rates. We can pullbacks to buy. However, it being a Friday, the longs may be looking to close their trades off so be careful and look for these.

Confluence areas to look for potential trade setups:

  1. At 1.1386 level: Daily Pivot, R2 from yesterday, previous S&R level and 38.2% fib retracement level
  2. At 1.1333 level : S1 level, yesterday’s R1 S&R and 78.9% retracement trade, previous swing high. Looking here for potential pullback
Daily Pivot: 1.1385
R1: 1.1487 S1: 1.1331
R2: 1.1415 S2: 1.1229
R3: 1.1644 S3: 1.1175

 

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Previous Day Highs/Lows

Date High Low
Sept 15 1.1441 1.1284
Sept 15 1.1320 1.1213
Sept 14 1.1328 1.1260

 

News

No critical news for the day in either EUR and GBP.

Pair: GBPUSD

Resistance: 1.5600, 1.5680, 1.5814
Support:  1.5560, 1.5520, 1.5480, 1.5430
Bias: Bullish. Looking for a pullbacks to buy. Price moved up due to –ve USD sentiment as Fed didn’t raise interest rates. We can pullbacks to buy. However, it being a Friday, the longs may be looking to close their trades off so be careful and look for these.

Confluence areas to look for potential trade setups:

  1. At 1.15567 level: Daily Pivot, R1 from yesterday, previous S&R level and 50% fib retracement level
  2. At 1.15528 level : High from Sept. 16th, S&R and 78.9% retracement level
Daily Pivot: 1.5566
R1: 1.5646 S1: 1.5505
R2: 1.5707 S2: 1.5425
R3: 1.5790 S3: 1.5365

Previous Day Highs/Lows

Date High Low
Sept 16 1.5626 1.5485
Sept 15 1.5524 1.5331
Sept 14 1.5470 1.5372

 

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