Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 30th,2015
Following the address from the Fed on Wednesday, the USD index has hit a new high since August. The statement clarified the possibility of interest rate hike in December and refuted the assumption that Chinese economic slowdown may postpone the rate hike. With that being the case, we should take a shift on trading strategy since it has been a consensus to hike interest rate in the market. Meanwhile, with a positive data to be released last week, more stimulus is drawn to interest rate hike. However, we also have voice from cons. Vassili Serebriakov from French Paris bank believes that it is not until next year in March, should the condition is mature for an interest rate hike. EUR/USDThe EUR/USD apparently is falling down, creating considerable pressure even though the bearish sentiment is eliminating. Therefore, the bullish sentiment is restricted and we do not expect too much pullback here. We can continues to buy put options. Support：1.0806/1.0775/1.0603Resistance：1.1013/1.1041/1.111
GBP/USDSeen from the 1-hour chart, the MACD has already bouncing off the 0 axis that indicates the remaining pullback momentum may bounce off during the morning session. As the general price movement continues to drop down, we are mainly buyers of put options. Support：1.5300/1.5252/1.5203Resistance：1.5334/1.5348/1.5356
USD/JPYSince the USD/JPY maintain a pretty good bullish sentiment, we are mainly buyers of call options. While there may be a correction during the morning session as the bullish momentum is declining. We can buy put options during the morning session. Put options can be purchased if there is not much volatility during the session in the afternoon. Support：120.75/120.64/120.28Resistance：121.48/121.71/121.85
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