Technical Analysis on EUR/USD, USD/JPY, GBP/USD, 31/08/2015
FX77 | Aug 31, 2015 05:32AM ET
This week is bound to be pivotal for a lot of important news will come out in the following week. We should focus on Non-Farm data because the market is not positive to Fed’s interest rate hike in September before. Non-Farm data has crucial influence on market, but we are still uncertain that whether it will move the market further under the shadow of interest rate hike. Taking fundamental analysis into account, this week’s market has no chance to be quiet.
Important event：17:00 Eurozone Initial CPI(YoY)(August) influence level:high
EUR/USD
The EUR/USD pair hasn’t change its bearish trend even it got support at 1.1155 and bounced back. Seen from the 1-hour chart, the correction momentum still exists with the possibility to rise. Keep an eye on the pressure bound 1.1271~1.1280, once it breaks through it, it will continue to rise to its next pressure position at 1.1368. We are buyers of call option as long as the price is fluctuating above the 1.1200 level.
Support：1.1150/ 1.1116 / 1.1024
Resistance：1.1264/ 1.1300 / 1.1380
GBP/USD
The GBP/USD pair continues to rebound which provides opportunity of buying call option with Key pressure area found at 1.5465~1.5480. We have to wait and see whether it will breaks this level or not. If it breaks through it, it may rise to 1.5520. So we can buy put option at 1.5520.
Support：1.5360/ 1.5254 / 1.5094
Resistance：1.5465/ 1.5520 / 1.5580
USD/JPY
Seen from the 1-day chart, the pressure level of the USD/JPY pair drops down after it hits position 121.63 for several times, so we are buyers of call options. From the 1-hour and 4-hour chart, the pullback movement has not changed and we like to start buying put options at 121.85.
Support：120.60 / 120.37
Resistance：121.60/ 121.85
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