Currency Pair Daily Forecasts
EUR/USD Daily Technical Reports
Prices failed for a third consecutive session to rally back beyond the 10-day MA line; a line that has begun to roll over. This suggests the uptrend from the Aug lows is due a broader correction. Opp missed o/n to sell at the favored entry point near 1.4155. Hourly’s are deeply o/s with Friday's 1.4035 low now eyed. Sell rallies.
USD/JPY Daily Technical Reports
Last wk's bullish breakout on the daily charts was continued early today, with prices breaching 117.50 and taking hourly studies up to overbought readings before toppling. Decent support is seen near 116.80 now and we will buy dips to there. Key resistance is at 117.90 and a bit too close to chase prices. Pivot off of there initially
GBP/USD Daily Technical Reports
Daily charts continue to churn inside the Sep 28 session’s real body, with 2.0445 capping rally attempts since Oct 2 and prices so far failing to close below the rising 10-day MA, now at 2.0340. The Oct 28 high was a failed test of the rising channel top begun w the Aug 18 low and dailies remain a bit heavy. 2.0305/445 is initial range
USD/CHF Daily Technical Reports
New profit stop on our long trade below intraday support at 1.1840 and after prices cleared Fri's 1.1855 today. Daily charts remain bullish with the 10-day MA now beginning to rebound and close to Thur's low and with the 20-day MA cleared today at 1.1780. A 1.1855+ close would put 1.1915/25 into play next. 1.1945 is the target.
By: Finotec Group Inc.
