Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 28/08/2015
FX77 | Aug 28, 2015 04:04AM ET
From the GDP revised data released in the US yesterday, America’s GDP data grew 3.7% in second quarter, better than the expected 3.2% and the previous reading 2.3%. This data indicates that American economy is expanding with more strong support for US index. Will this increase the possibility of Fed’s interest rate hike in September? Actually it’s hard for Fed to make a decision under the global economy background.
EUR/USD
The EUR/USD pair has continued to fall dramatically in the past few days, while key support is found at 1.1180 from the 1-hour chart. Long term average line(blue line in the figure below) has the pullback function, with brandistock tending to appear in MACD, 1.1180 should be a perfect entry position. But if it drops back with strong momentum, we prefer buying put option.
Support：1.1202/ 1.1160 / 1.1113
Resistance：1.1289/ 1.1334 / 1.1389
GBP/USD
The GBP/USD pair did not show strong bearish momentum when it dropped to 1.5369 yesterday, but within the 1-hour chart, we found a MACD brandistock which indicates a strong pullback. We do believe that this session may end its consolidation and enter into a new rebound correction. We are mainly buyers of call options.
Support：1.5363/ 1.5254 / 1.5094
Resistance：1.5507/ 1.5575 / 1.5600
USD/JPY
The USD/JPY pair continues to rebound and has reached the key pressure at 121.61 which is shown in 4-hour chart. Its rebound may end at 121.65~121.80 even with bullish momentum remaining. We are mainly buyers of put option with more observation in the morning session.
Support：120.54 / 119.95
Resistance：121.63/ 121.94
Get The News You Want
[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.