Currency Pair Daily Forecast

EUR/USD Daily Technical Report

1.4211 has held losses and protected our long trade by 1 pip. Hourly studies are flat close to oversold levels and further rebound action is sought. The underlying trend remains higher on the daily charts in spite of overbought levels. Long trades are in play and stops have been raised to just above entry level

USD/JPY Daily Technical Reports

There is a lare symmetrical triangle developing on the daily chart and today's high tested the upper line of the pattern at 116.05. teh pair was able to hold near there into the close but still respected that line as resistance. Failure to get through there on Tuesday will put our new long in danger as this market's range continues to constrict.

GBP/USD Daily Technical Reports

The break above 2.0366--what was the high for most of September--on Friday started a new bullish trend signal on Trend Intensity . The bullish reading is bolstered by the break above the Fibonacci 76% retracement of the July/August drop at 2.0418. The combination suggests that the market is headed for the July high at 2.0654.

USD/CHF Daily Technical Reports

1.1720 stalled just ahead of the 10-day MA where there are stops above. Sharp rejection from here then saw 1.1665 come back under pressure but this also holds. Hourly studies now bouncing again. The daily charts are deep in oversold territory but the underlying trend remains lower. Stick with short trade but cover a bounce off the 1% MA band base

By: Finotec Group Inc.

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