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Market Analysis for September 29th, 2015

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Technical Analysis

Pair: EURUSD

Resistance:  1.1300, 1.1330,  1.1380
Support: 1.1220, 1.1180, 1.1150
Daily Bias: Bullish. Looking to buy pullbacks.

Daily Pivot: 1.1212
R1: 1.1278 S1: 1.1177
R2: 1.1313 S2: 1.111
R3: 1.1380 S3: 1.1076

 

 Sept29 EURUSDDaily

Previous Day Highs/Lows

Date High Low
Sept 28 1.1247 1.1146
Sept 25 1.1212 1.1115
Sept 24 1.1295 1.1105

 

Areas of confluence for pullback:

1.1200 – 38.2% retracement level, S&R, big figure, Pivot Point

1.1220 – S&R, 23.6% daily fib retracement

1.1180 – 61.8% daily fib retracement, S&R, previous day’s pivot, 23% overall fib retracement, clode to today’s S1

Potential Targets:

1.1280 – close to the high from Sept. 24, 138% extension for daily, R1 level, 50% overall fib retracement

1.1300 – S&R, 161.8% extension of the daily move, 61.8% retracement of the overall move, R2 level

Pair: GBPUSD

Resistance: 1.5020, 1.5240, 1.5280, 1.5330, 1.5400
Support: 1.5150, 1.5080, 1.5020
Bias: Bearish to Neutral. The price hasn’t held below the previous lows of 1.5150. If the price holds below, we’ll look for a continuation move to the downside. However, if it fails to hold below, this level may provide a good opportunity for the move up.

Daily Pivot: 1.5190
R1: 1.5223 S1: 1.5138
R2: 1.5274 S2: 1.5105
R3: 1.5307 S3: 1.5054

 

Previous Day Highs/Lows

Date High Low
Sept 28 1.5240 1.5156
Sept 25 1.5260 1.5134
Sept 24 1.5290 1.5198

 

Areas of confluence for pullback for a potential move to the downside:

1.5180 – daily pivot, S&R level, 38% retracement of the daily move

1.5220 – R1 level, 78.9% retracement of the daily move, S&R

Potential Targets:

1.5130 – S1 level, 127% extension of the daily move

1.5100 – Big figure, S&R, 161.8% extension of the daily move

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