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Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 15th,2015

ByFX77
Published 10/15/2015, 03:27 AM
Updated 03/09/2019, 08:30 AM

During the session on Wednesday, the Fed said in its Beige Book report said that the US economic activity continued to expand modestly from mid-August through early October. Richmond Fed’s president Lacker believed that inflation rate in America will rise to 2%, but the case for higher short-term interest rates remained strong. With that being the case, we know that Fed will definitely hike interest rate but it’s just a matter of time. we should stick to the idea that the US dollar will fall with correction until the beginning of December.

EUR/USD
The EUR/USD pair continues to fall with big chance of slight correction during the morning session. We find enough resistance in the area between 1.1475 and 1.1503, thus, put options can be purchased during the morning session while call options can be bought when it returns to bullish trend.
Support：1.1405/1.1394/1.1361
Resistance：1.1503/1.1565/1.1600


GBP/USD
Viewed from the 1-hour chart, the GBP/USD continues to rise dramatically that requires a pullback correction, so we are mainly buyers of put options before the afternoon course. Several important support levels can help us determine when to buy call options.
Support：1.5441/1.5410/1.5400
Resistance：1.5490/1.5532/1.5566


USD/JPY
The USD/JPY continues to rebound as it falls, so we prefer buying call options during the morning session. Put options can be purchased when it runs to resistance level and changes movement direction.
Support：118.33/117.53/116.20
Resistance：119.50/119.89/120.71


[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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