Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 27/08/2015
FX77 | Aug 27, 2015 06:04AM ET
Influenced by US positive Durable Goods data, the USD stops the decline and bounces off. We should keep in mind that this data has limited influence on the market. On the other hand, we should notice that Europe and Japan have the intention to enlarge their quantitative easing programs in response to world economy slowdown.
EUR/USD
The EUR/USD pair continues to drop down with strong bearish momentum that provides more opportunities of buying put options. Morning session may experience some pullback, so we are cautious call buyers. When it successfully exceeds the resistive level at 1.1406. We will continue to buy call options; otherwise we favor of buying put options.
Support：1.1228/ 1.1206 / 1.1181
Resistance：1.1406/ 1.1452 / 1.1485
GBP/USD
From the 1-hour chart, the GBP/USD pair has dragged a little far away from the average line which requires a correction in the future. Combining the 4-hour chart, we can find that morning session’s resistive level 1.5509 has become the key position of correction. We are buyers of call options when it successfully breaks through that level and bounces around near 1.5560.
Support：1.5413/ 1.5353 / 1.5251
Resistance：1.5508/ 1.5560 / 1.5620
USD/JPY
The USD/JPY pair continues to rebound with MACD bouncing up 0 axis in 1-hour chart. Price are moving above the average line which may keep its bullish momentum in the future. We like to buy call options in the morning session and end it at 120.80~121.33. Rebound may end at 119.12 which can lead to a buy options.
Support：119.12 / 118.68
Resistance：120.80 / 121.33
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