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Market Analysis for week of October 4th, 2015

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Technical Analysis

Pair: EURUSD

Resistance: 1.1280, 1.1320, 1.1370, 1.1400, 1.1470
Support: 1.1200, 1.1180, 1.1150, 1.1100
Daily Bias: Bearish to neutral. The price moved up inefficiently on the poor Non-farm payroll numbers, however, wasn’t able to hold there. The end result was a nice rejection of the top of the range. We’ll look for a pullback to sell, looking for the price to move towards the bottom of the range.

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Pair: GBPUSD

Resistance: 1.5280, 1.5240, 1.5200
Support: 1.5330, 1.5250, 1.5180
Bias: Neutral to Bullish. We saw a compressed move into the bottom of the range for GBPUSD last week. The pair jumped on the poor Non-farm payroll data. We did see a rejection at the top of the range, however, the price held up better that the EURUSD. We’ll look for the price to make another attempt at the top of the range and see what setups present themselves at that level.

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