2018-10-01
Due to the uncertainties in Italy's economy the EUR was pushed lower than first expected, but the long-term uptrend remains firmly in place.
With the test of long-term support at 1.7484 EUR/NZD corrective decline likely is done and the next impulsive rally about to start. That said, we need a break above minor resistance at 1.7637 and more importantly a break above resistance at 1.7732 to confirm the next rally towards 1.8030 and longer term higher to 1.8369.
R3: 1.7732
R2: 1.7704
R1: 1.7636
Pivot: 1.7554
S1: 1.7528
S2: 1.7484
S3: 1.7420
Trading recommendation: Our stop at 1.7515 was hit for a loss of 100 pips. We will re-buy EUR at 1.7500 or upon a break above 1.7638.
Technical analysis: Intraday level for USD/JPY, Oct 01/2018
2018-10-01
In Asia, Japan will release the Final Manufacturing PMI, Tankan Non-Manufacturing Index, and Tankan Manufacturing Index and the US will release some Economic Data such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, and Final Manufacturing PMI. So there is a probability the USD/JPY pair will move with a low to medium volatility during this day.TODAY'S TECHNICAL LEVEL: Resistance. 3: 114.48. Resistance. 2: 114.26. Resistance. 1: 114.04. Support. 1: 113.75. Support. 2: 113.53. Support. 3: 113.31.Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you.Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Technical analysis: Intraday Level For EUR/USD, Oct 01/2018
2018-10-01
When the European market opens, some Economic Data will be released such as Unemployment Rate, Italian Monthly Unemployment Rate, FinalManufacturing PMI, German Final Manufacturing PMI, French Final Manufacturing PMI, Italian Manufacturing PMI, Spanish Manufacturing PMI, and German Retail Sales m/m. The US will release the Economic Data too such as Total Vehicle Sales, ISM Manufacturing Prices, Construction Spending m/m, ISM Manufacturing PMI, Final Manufacturing PMI, so amid the reports, EUR/USD will move in a low to medium volatility during this day.TODAY'S TECHNICAL LEVEL: Breakout BUY Level: 1.1663. Strong Resistance: 1.1656. Original Resistance: 1.1645. Inner Sell Area: 1.1634. Target Inner Area: 1.1606. Inner Buy Area: 1.1578. Original Support: 1.1567. Strong Support: 1.1556. Breakout SELL Level: 1.1549.Disclaimer: Trading Forex (foreign exchange) on margin carries a highlevel of risk, and may not be suitable for all Traders or Investors.The high degree of leverage can work against you as well as for you.Before deciding to invest in foreign exchange you should carefullyconsider your investment objectives, level of experience, and riskappetite. The possibility exists that you could sustain a loss of someor all of your initial investment and therefore you should not investmoney that you cannot afford to lose. You should be aware of all therisks associated with foreign exchange trading, and seek advice froman independent financial advisor if you have any doubts.
Technical analysis of EUR/USD for October 1, 2018
2018-10-01
EUR/USD remains in a bearish trend after the rejection last week at 1.18. Prices bounced on Friday but as we said in our previous analysis, any bounce should be seen as an opportunity to sell. We remain bearish looking for a move towards 1.15-1.14.
Technical analysis of EUR/USD for October 1, 2018
2018-10-01
EUR/USD remains in a bearish trend after the rejection last week at 1.18. Prices bounced on Friday but as we said in our previous analysis, any bounce should be seen as an opportunity to sell. We remain bearish looking for a move towards 1.15-1.14.
Light blue dots - medium strength support
Dark blue dots - maximum strength support
Redn line - major resistance
EUR/USD has support at 1.1560 and next at 1.1480. Resistance is at 1.1630 and next at 1.1660. Bulls will need to break above 1.1660 and close above it in order for us to consider that a low is in. Major resistance remains at 1.1810. A break above it will open the way for a push towards 1.19-1.21.
Technical analysis of Gold for October 1, 2018
2018-10-01
Gold remains inside the longer-term bearish channel and is creating a shorter-term one as well. Price is making lower lows and lower highs. Price broke below and out of the trading range it was in for a month and is now trying to get back in. I expect prices to get rejected and move lower.
Dark blue dots - maximum strength support
Redn line - major resistance
EUR/USD has support at 1.1560 and next at 1.1480. Resistance is at 1.1630 and next at 1.1660. Bulls will need to break above 1.1660 and close above it in order for us to consider that a low is in. Major resistance remains at 1.1810. A break above it will open the way for a push towards 1.19-1.21.
Technical analysis of Gold for October 1, 2018
2018-10-01
Gold remains inside the longer-term bearish channel and is creating a shorter-term one as well. Price is making lower lows and lower highs. Price broke below and out of the trading range it was in for a month and is now trying to get back in. I expect prices to get rejected and move lower.
Green lines - long-term bearish channel
Red lines - short-term bearish channel
Short-term support is at $1,180 and resistance at $1,195. As long as price is below $1,195 I expect the short-term trend to remain bearish and push price towards $1,170. A break above $1,195 could push price towards $1,205 which is the channel resistance. A break above and out of the green channel will push price towards $1,220-30. Until then trend remains bearish and we expect prices to move lower.
Red lines - short-term bearish channel
Short-term support is at $1,180 and resistance at $1,195. As long as price is below $1,195 I expect the short-term trend to remain bearish and push price towards $1,170. A break above $1,195 could push price towards $1,205 which is the channel resistance. A break above and out of the green channel will push price towards $1,220-30. Until then trend remains bearish and we expect prices to move lower.
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