Currency Pair Daily Forecasts by Finotec Group




EUR/USD Daily Technical Reports

O/N short stopped out as an oversold bullish divergence on the hourly charts drove prices higher once again, clearing 1.4105. O/N break below prior two days' lows near 1.4035 was ltd to 1.4015. Now the 10-day MA that capped prices the past three sessions is back in prospect and is the upside pivot point at 1.4140.


USD/JPY Daily Technical Reports

Daily uptrend is a little overbought and retreated to below Mon's 116.85 low after the upper Bolli band near 117.45 capping o/n. But supports at 116.80, which include the Oct 3 high, a 61.8% Fibo and the 21-day MLR, have prompted a rebound. A close below 116.80 would be bearish. 117.90 remains the key obstacle above this week's highs.


GBP/USD Daily Technical Reports

Short trade from 2.0330 now under threat following latest surge back above 2.0350. The earlier drop below the previous inter-day consolidation lows by 2.0278 proved to be a false break and pressure now seen back towards the upside. Nevertheless, the overall structure remains bearish below 2.0445, with only a break above negating


USD/CHF Daily Technical Reports

Last long was stopped out for a decent profit, and we went long again on the rebound out of 1.1825 during the NY session, which is also a 50% retracement of the 1.1760/1.1895 move on the hourlies. Hourlies are trying to rebound from o/s. Dailies are bullish, though stochs are closer to o/b now. Stop is tight below 1.1825 and the target is 1.1925.

By: Finotec Group Inc.


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