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Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 26/08/2015

ByFX77
Published 08/26/2015, 05:58 AM
Updated 03/09/2019, 08:30 AM

Chinese Central Bank are releasing more easing signals with a cut on both loan rate and deposit reserve ratio. With the global economy slow down, more countries are adopting easing policies causing impression that US interest rate hike is going to delay. This has been indicated by market in those few days and consolidation with correction will be the theme of the following session.

EUR/USD
The EUR/USD pair had completed its correction yesterday, but taken today’s 1-hour chart into account, the correction cannot ended. We like carefully buying call options since we expect it to bounce off with weak momentum. Pullback level is to be set at around 1.1640.
Support：1.1454 / 1.1374 / 1.1285
Resistance：1.1640/ 1.1714 / 1.1818


GBP/USD
To investors’ surprise, The GBP/USD pair broke above 1.5800 yesterday evening ,hit its high limit at 1.5818 and quickly tumbled below 1.5700. In the short-term period, we would like to buy put option as it continues to consolidate with downward trend but won’t cause further pullback for the strong support of day-line. European trading should be paid attention to and we won’t buy call option until it rises above 1.5720.
Support：1.5647 / 1.5620 / 1.5560
Resistance：1.5715/ 1.5811 / 1.5845
USD/JPY
The USD/JPY continues to drop down, but from the 4-hour chart or day trend chart its short-term correction hasn’t ended yet. We are cautious buyers of call options.
Support：116.35 / 113.45
Resistance：120.30 / 120.44


[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.

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