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Market Analysis for September 24th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1200,  1.1250, 1.1280,1.1320
Support: 1.1100, 1.1020, 1.0960, 1.100
Daily Bias: Neutral. We’ll trade the EUR as a range trade, looking to sell at the top of the range at 1.1200 and buy at the bottom at 1.100. Will keep an eye on the break to either side of the range and look to get into a confirmed breakout entry.

Daily Pivot: 1.1167
R1: 1.1231 S1: 1.1122
R2: 1.1276 S2: 1.1058
R3: 1.1340 S3: 1.1013

 

 Sept24 GBPUSDDaily

Previous Day Highs/Lows

Date High Low
Sept 23 1.1213 1.1105
Sept 22 1.1206 1.1112
Sept 21 1.1330 1.1179

 

Areas of confluence for pullback:

1.1167 – daily pivot, 50% fib retracement of the daily move

1.1120 – 38.2% retracement of yesterday’s move, S&R, daily pivot, S1 level, low from Sept. 22

1.1180 –  23.6% retracement of the  overall move, 23% retracement of the daily move, S&R, high of the previous 2 days, low of the day before

Pair: GBPUSD

Resistance: 1.5250, 1.5320, 1.5450, 1.5530
Support: 1.5170, 1.5050
Bias: Bearish. Looking for pullbacks to sell.

Daily Pivot: 1.5277
R1: 1.5334 S1: 1.5187
R2: 1.5423 S2: 1.5131
R3: 1.5480 S3: 1.5041

 

Previous Day Highs/Lows

Date High Low
Sept 23 1.5562 1.5221
Sept 22 1.5530 1.5338
Sept 21 1.5565 1.5480

 

Areas of confluence for pullback:

1.5277 – daily pivot, S&R level, 23.6% retracement of the overall fib, 38% fib retracement of yesterday’s move

1.5300 – 50% retracement of yesterday’s move, previous day’s S1 level, Big figure (00) level

1.5330 – R1 pivot level, previous  S1 level, 78.9% fib retracement of yesterday’s move, 23.6% fib retracement of the overall move, S&R

Ares of Confluence for Potential Targets:

1.5168 – 138.2% fib extension of yesterday’s move, S&R from 4hr chart, previous swing low

1.5187 – S1, 127% fib extension of yesterday’s move, 138% extension of the overall move, S&R

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