Monday’s Technical Analysis on EUR/USD,GBP/USD,USD/JPY
FX77 | Jan 04, 2016 03:59AM ET
As Saudi Arabia servers tie with Iran, oil price surged sharply in the first trading day of 2016 on Jan 3. WTI slumped to USD 33.98, approaching the lowest price at 33.20 since mid-February 2009. With that being the case,there should be enough support that provides more trading opportunities. The US Dollar index made a strong presence in the new year’s trading session, attempting to reach 100. But we still hold a conservative view towards US Dollar.
EUR/USD
As the EUR/USD continues to fall down, we are mainly buyers of put options. Put options can be suspended in the vicinity of 1.0800, while call options can be purchased when it reaches 1.0792.
Support：1.0800/1.0792 Resistance：1.0863/1.0883
GBP/USD
A consecutive bearish trend has driven the GBP/USD to the previous low at 1.4565 with a contemporary support. We are mainly buyers of put options until it reaches 1.4600.
Support：1.4600/1.4565 Resistance：1.4800/1.4850
USD/JPY
The bottom deviation pattern in 4-hour chart has been eliminated by a bearish trend during the morning session. Call options can be purchased at 119.50.
Support：120.00/119.50 Resistance：120.50/120.65
[Tips]
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