Thursday's Technical Analysis On EUR/USD, GBP/USD, USD/JPY
FX77 | Nov 26, 2015 05:20AM ET
A streak of positive economy data has paved the way for Fed interest rate hike, even US Dollar index had broke through 100 yesterday under the undecided interest rate hike. It is expected to strike higher before the first interest rate hike. Meanwhile, policy makers from European Central Bank are managing to broaden QE bond buying since QE policy is inevitable. EUR/USD hit a seven-month-low yesterday.
EUR/USD
As there appears to be a slight dropdown during the morning session, we are cautious of buying put options. But since the price is approaching the previous low reading, put options should be gradually suspended and switched to call options.
Support：1.0520/1.0460
Resistance：1.0630/1.0651
GBP/USD
Seen from the 1-hour chart, the MACD is lingering in the 0 axis that indicate a possible bullish sentiment. Since the GBP/USD continues to rebound during the morning session, call options can be purchased with caution. Meanwhile, we believe it will bounce around during the daytime session as there exists considerable resistance.
Support：1.5064/1.4889
Resistance：1.5160/1.5180
USD/JPY
The direction of USD/JPY price movement is undecided yet. Therefore, we prefer buying call options with caution during the morning session, while put options can be purchased in the afternoon.
Support：122.54/122.23
Resistance：122.89/122.97
DISCLAIMER: All the information mentioned above is for reference only.
Get The News You Want
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.