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Technical Analysis on EUR/USD,GBP/USD,USD/JPY,September 16th,2015

ByFX77
Published 09/16/2015, 03:56 AM
Updated 03/09/2019, 08:30 AM

This week’s focus should be and only can be Federal Reserve’s meeting on interest rate decision. As many believe that the result is unlikely to be a rate hike by the end of the month, the USD Index will continues to drops back this week. Currency pairs related to the USD may obtain opportunity or risk from the decline of USD.

EUR/USD
Seen from the 1-hour chart, the bearish sentiment of the EUR/USD pair has eliminated after falling for two days. However, without sufficient bullish momentum, the market may move in sideways during the session today. Therefore, we would like to buy put at resistive level and buy call at supportive level.
Support：1.1231/1.1200/1.1160
Resistance：1.1310/1.1330/1.1400


GBP/USD
The GBP/USD pair continues on move downwards with price moving below the average line in the 4-hour chart, so we are mainly buyers of put options. Meanwhile, there requires a pullback correction in the morning session since the price movement is a little far away from the average line.
Support：1.5320/1.5282/1.5235
Resistance：1.5400/1.5410/1.5460


USD/JPY
The USD/JPY pair is believed to rise since its MACD has crossed the 0 axis in the 1-hour chart but will not find enough support to continue. Moreover, the bearish trend of the USD/JPY has not been changed, so we still favor of buying put option. We need to note that once the price go back to 120.40, we should suspend the put options since the pullback may continues.
Support：119.98/119.67/119.27
Resistance：120.60/120.86/121.36


[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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