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Thursday's Technical Analysis on EUR/USD,GBP/USD,USD/JPY

ByFX77
Published 02/04/2016, 02:19 AM
Updated 03/09/2019, 08:30 AM

Even though the ADP employment data released yesterday was better than expectation, but expectation on Fed interest rate hike has collapsed as chief economist from Goldman Sachs (N:GS) believed it may delay to June. 50% of the investors believe an interest rate hike will happen this year, while even 25% of them believe it will occur twice. Meanwhile, Bank of England(BoE) will release its interest rate decision, minutes and inflation report at 12:00(GMT).


EUR/USD
Seen from the 4-hour chart, the price of EUR/USD is dragging off the average line after yesterday’s big slump. As it requires a correction, we are cautious of buying put options during the morning session, but we are mainly buyers of call option during the session today.
Support：1.1050/1.1000 Resistance：1.1230/1.1267


GBP/USD
Seen from the 4-hour chart, the price is bouncing off the moving average line that requires a correction. We are mainly buyers of put options.
Support：1.4500/1.4436 Resistance：1.4650/1.4722




USD/JPY
As the USD/JPY continues to drop back, we are mainly buyers of put options during the daytime session. However, the candlestick chart may bounce back that we should be cautious.
Support：117.33/116.00 Resistance：119.00/119.21


[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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