Brent Crude: Correction Targets $89.50
eFXnews | Oct 22, 2014 03:25AM ET
EUR/USD: Topside failure and supply shown. The market went for a +1.2845 break when more euro-negative views hit the wires. The U-turn & low session close show renewed supply finding its way to market and if breaking nearby support at 1.2713/659, the short-term key 1.2625/05 zone would become exposed once more. Current intraday stretches are located at 1.2676 & 1.2800.
EUR/JPY: Below 135.70 would target 135.05. Following a bearish print yesterday there is a near-term negative bias for the session(s) ahead. If breaking a set of Fibo at 135.70, extension towards 135.05 would be the next likely step. initial resistance is located at 136.26, but also 136.79 must be reclaimed to prove a bearish bias incorrect. Current intraday stretches are located at 135.45 & 136.80.
S&P 500: Over 1,938 targets 1,968/71. Surprisingly strong development - which with the >1,938 break target 1,968/71 next (but over 1,948 would right now be an intraday stretch). First-hand support is located at yesterday's 1,920 mid-body point, more is found at 1,904 & 1, 886.
Brent Crude, The correction targets $89.50. 2nd leg higher in an ongoing A-B-C should take off and press nearby resistance at 87.55/88.00 and target an 'Equality point' at 89.50. Forget this case is losing 84.10.
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