Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 09/14/2015
FX77 | Sep 14, 2015 06:12AM ET
This week’s fundamental analysis should be based on Fed’s meeting of interest rate decision that starts from September 16th to 18th. With global economy and the US situation being considered, there is little chance to raise interest rate in recent days. But we cannot be sure Fed won’t give us a big surprise because mavericks is always their style.
EUR/USD
The EUR/USD pair keeps a perfect bullish momentum but hasn’t formed a strong bullish pattern, that is to say, its bullish sentiment won’t stay long and go higher. We are mainly buyers of call options during the session today. We should be cautious when it rises to pressure level at 1.1370, if it is broken through, it may bounce to 1.1400 but won’t last long. Therefore, call options should be ended here and put options should be purchased.
Support：1.1249/1.1180
Resistance：1.1370/1.1478
GBP/USD
The bullish sentiment of the GBP/USD pair is declining with pressure found at around 1.5468~1.5480. There is high opportunity of fluctuation, so we prefer buying call on dips and buying put on top. When it drops down 1.5406, we are mainly buyers of put options.
Support：1.5409/1.5405/1.5350
Resistance：1.5470/1.5480/1.5490
USD/JPY
The USD/JPY pair continues to consolidate with a slight bearish momentum that would transfer to drop down pattern. We favor of buying put options. If it breaks through 120.88, we would transfer to buy call options and end it at 120.40.
Support：120.45/120.06
Resistance： 120.88/121.40
[Tips]
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