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Technical Analysis on EUR/USD, GBP/USD, USD/JPY, October 6th, 2015

Technical Analysis on EUR/USD, GBP/USD, USD/JPY, October 6th, 2015

As the Fed’s interest rate hike has calm down, this week’s focus is drawn to central bank’s interest rate decision and currency policy in other countries. During the session today, interest rate decision will come out of Australia and Britain. We will also anticipate Japan’s currency decision as well as the federal reserve currency policy minutes. Meanwhile, as the top pattern of the USD index has existed for a long time, it may run into failure if without further decline and climb to 96.50 within this week. Therefore, the USD index should be under intense scrutiny this week.EUR/USDThe EUR/USD pair contemporary converts to bearish trend, so we are mainly buyers of put options. Since there may be some short-term support to pull it back at 1.1140, we should stop buying put options at 1.1100. Put options should also be suspended at 1.1220.Support:1.1140/1.1100/1.1027Resistance:1.1225/1.1258/1.1347

GBP/USDAs the GBP/USD pair is back to bearish trend, we favor of buying put options until it drops to supportive level at 1.5106 and 1.5090. Since the supportive level at 1.5090 cannot be easily broke through, we can start buying call options at this position. Support:1.5106/1.5090/1.4900Resistance:1.5250/1.5320/1.5400

USD/JPYThe 4-hour chart of the USD/JPY pair shows that its bullish momentum is increasing and it’s likely to continue its pullback. But we believe it cannot raise too high. Call options can be purchased during the daytime, while put options can be purchased during the evening. Support:119.00/118.30/117.51Resistance:120.60/121.10/121.20

[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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