Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 28/08/2015

From the GDP revised data released in the US yesterday, America’s GDP data grew 3.7% in second quarter, better than the expected 3.2% and the previous reading 2.3%. This data indicates that American economy is expanding with more strong support for US index. Will this increase the possibility of Fed’s interest rate hike in September? Actually it’s hard for Fed to make a decision under the global economy background.


EUR/USD
The EUR/USD pair has continued to fall dramatically in the past few days, while key support is found at 1.1180 from the 1-hour chart. Long term average line(blue line in the figure below) has the pullback function, with brandistock tending to appear in MACD, 1.1180 should be a perfect entry position. But if it drops back with strong momentum, we prefer buying put option.
Support：1.1202/ 1.1160 / 1.1113
Resistance：1.1289/ 1.1334 / 1.1389


GBP/USD
The GBP/USD pair did not show strong bearish momentum when it dropped to 1.5369 yesterday, but within the 1-hour chart, we found a MACD brandistock which indicates a strong pullback. We do believe that this session may end its consolidation and enter into a new rebound correction. We are mainly buyers of call options.
Support：1.5363/ 1.5254 / 1.5094
Resistance：1.5507/ 1.5575 / 1.5600


USD/JPY
The USD/JPY pair continues to rebound and has reached the key pressure at 121.61 which is shown in 4-hour chart. Its rebound may end at 121.65~121.80 even with bullish momentum remaining. We are mainly buyers of put option with more observation in the morning session.
Support：120.54 / 119.95
Resistance：121.63/ 121.94


[Tips]
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