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Market Analysis for September 23rd, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1167, 1.1213, 1.1250, 1.1280,1.1320
Support: 1.1080, 1.1020, 1.0960, 1.100
Daily Bias: Bearish. Looking for pullbacks to sell. Look for areas of confluence for trade setup.

Be mindful of Draghi’s speech at 9am EST tomorrow. We may also see profit taking after 3 days of down move.

Daily Pivot: 1.1146
R1: 1.1180 S1: 1.1085
R2: 1.1241 S2: 1.1051
R3: 1.1275 S3: 1.1000

 

Sept 22 GBPUSDDaily 

Previous Day Highs/Lows

Date High Low
Sept 22 1.1206 1.1112
Sept 21 1.1330 1.1179
Sept 18 1.1458 1.1269

 

Areas of confluence for pullback:

@ 1.1150, daily pivot, previous S1 and S2 levels, S&R, 38.2% retracement of yesterday’s move

@ 1.1180/1.1200, 23.6% retracement of the  overall move, 78.9% retracement of the daily move, S&R, high of the previous day, low of the day before

Ares of Confluence for Potential Targets:

@1.1080 – S1, S2 from yesterday, monthly low, strong S&R, 127% of the previous day’s move,

@1.1050 – S2 level, previous S&R, 161.8% extension of yesterday’s fibs

@ 1.1000 – S3 level, previous S3 level, 138.2% overall fib extension, S&R

Pair: GBPUSD

Resistance: 1.5480, 1.5530, 1.5580, 1.5620
Support: 1.5320, 1.5280, 1.5220, 1.5170
Bias: Bearish. Looking for pullbacks to sell. Look for areas of confluence for trade setup.

Daily Pivot: 1.5410
R1: 1.5480 S1: 1.5292
R2: 1.5598 S2: 1.5222
R3: 1.5668 S3: 1.5104

 

Previous Day Highs/Lows

Date High Low
Sept 22 1.5530 1.5338
Sept 21 1.5565 1.5480
Sept 18 1.5656 1.5512

 

Areas of confluence for pullback:

@1.5410 – daily pivot, S&R level, 23.6% retracement of the overall fib, 38% fib retracement of yesterday’s move

@1,.5480 – R1 pivot level, previous  S1 level, 78.9% fib retracement of yesterday’s move, S&R

Ares of Confluence for Potential Targets:

@1.5292 – S1, 127% fib extension of yesterday’s move, S&R

@ 1.5220 – S2, 161.8% fib extension of yesterday’s move, 138% extension of the overall move, S&R

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