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Market Analysis for September 22nd, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1250, 1.1280,1.1320,  1.1380
Support: 1.1180, 1.1120, 1.1080, 1.1020
Daily Bias: Bearish. Looking for pullbacks to sell. Look for areas of confluence for trade setup.

Daily Pivot: 1.1233
R1: 1.1205 S1: 1.1136
R2: 1.1382 S2: 1.1084
R3: 1.1434 S3: 1.0987

 

EURUSDDaily

Previous Day Highs/Lows

Date High Low
Sept 21 1.1330 1.1179
Sept 18 1.1458 1.1269
Sept 17 1.1441 1.1283

 

Confluence: Pullbacks

@ 1.1080, 200% extension, S2 level

@1.1250 – 50% fib retracement, S&R, also 23% retracement of the overall move

@1.1233 – daily pivot, yesterday’s S1, 38% fib retracement, downtrend line.

@1.1280 – 61.8%, R1 level, previous S&R. 38% retracement of the overal move down, previous day low

Potential Targets: Confluence

@1.1130 – S1 level, previous S&R, 127%, 138%

@1.1080 – S2, 161.8%, 200% & 138.2% fib levels, strong S&R,

Pair: GBPUSD

Resistance: 1.5580, 1.5620,1.5650,
Support: 1.5450, 1.5380,1.5330
Bias: Neutral to Bearish. Look for areas of confluence for trade setup.

Daily Pivot: 1.5518
R1: 1.5555 S1: 1.5468
R2: 1.5605 S2: 1.5430
R3: 1.5643 S3: 1.5381

 

Previous Day Highs/Lows

Date High Low
Sept 21 1.5565 1.5480
Sept 18 1.5656 1.5512
Sept 17 1.5625 1.5485

 

Areas of confluence for pullback:

@1.5555 – R1, previous day’s pivot, S&R level, 38% overall fib, 78.9% fib (yesterday)

@15520 – Daily Pivot, previous S&R, S1 (sept 18), 23.6% overall fib retracement, 50% fib (yesterday)

Potential Targets: Confluence

@1.5430 – S2, 127% overall fib, 161.8% (yesterday)

@ 1.5380 – S3, 161.8% overall fib, S&R

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