Technical Analysis on EUR/USD,GBP/USD,USD/JPY,October 19th,2015
FX77 | Oct 19, 2015 04:18AM ET
Britain will not postpone but hike its interest rate in advance, Forbes from Bank of England(MPC)said that, the investors are exaggerating the slowdown economy of emerging economies. Even though British economy is still optimistic, it ma slow down with declining domestic needs. With that being the case, we believe that it cannot cause much volatility to GBP since the interest rate hike will happen at least until next year.
EUR/USD
The EUR/USD pair still maintains a pretty good bullish pattern with strengthen signal at the supportive level of 1.1350. But the direction has to be confirmed unless it bounce back to 1.1390. Since it runs at this area during the morning session, we prefer buying call options at the break of 1.1390. Put options is not suggested unless it bounces down 1.1350.
Support：1.1350/1.1316/1.1302
Resistance：1.1391/1.1415/1.1433
GBP/USD
Viewed from all kind of period chart, the GBP/USD pair is obviously in a correction. Its MACD in the 1-hour chart is approaching the 0 axis that indicates a bearish momentum. Therefore, we are mainly buyers of put options.
Support：1.5413/1.5390/1.5380
Resistance：1.5462/1.5486/1.5500
USD/JPY
The USD/JPY pair continues to fall in general. Seen from the 1-hour chart, the bullish momentum still exist while without sufficient support. Therefore, we are mainly buyers of put options. Put options should be suspended when it breaks through 119.60.
Support：119.00/118.30/117.50
Resistance：119.52/119.80/120.00
[Tips]
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