Daily Technical Report :September 30, 2015

USDJPY

The USDJPY pair didn’t show big move today following yesterday’s bounce from the support of the triangle.

Some kind of bearish trend weakness appears on ADX, while RSI aims to inch higher, although it moves below 50.00 levels.

USDJPY

In the interim, SMA20-green- is still covering the price; thus, we will be waiting for a confirmation for resuming the recovery inside the pattern or moving back to the downside.

Note, today’s closing will define the closing of the third quarter and thus, we should see the monthly closing very well to see whether the pair will close above or below 120.60-121.5 resistances or below 119.60 initial support.

Support:119.35-118.80-118.20

Resistance: 120.25-120.60-121.05

Direction: Sideways, but bearish below 119.60 and bullish above 120.60.

USDCHF

The USDCHF pair is slightly moving to the upside after finding some support around 61.8% Fibonacci retracement, which intersects with moving averages as seen on the provided daily chart.

USDCHF

There no clear sign appearing on RSI14 despite moving above 50.00 levels, while ADX couldn’t prove resuming the recovery.

The weak recovery in addition to unclear signs on technical indicator cause a neutral stance, but coming below 0.9700 regions once again will bring back the bearish tendencies.

Support: 0.9700-0.9630-0.9590-0

Resistance: 0.9760-0.9785-0.9835

Direction: Sideways, but bearish below 0.9700 levels.

EURUSD

EURUSD declined after touching 1.1280 and failed to take it out, while signs of trend weakness appears on technical indicators. However, RSI moves above 50.00 and prices stabilize above SMA20 and SMA50.

EURUSD

We need to see a breakout below 1.1185 to prove the bearishness and above 1.1280 to be bullish.

We will be neutral until an actionable setup presents itself to us.

Support: 1.1220 – 1.1185 – 1.1145

Resistance: 1.1280 –1.1325 – 1.1385

Direction: Sideways

GBPUSD

GBPUSD trades below moving averages and the bearishness was stopped by RSI oversold signal.

GBPUSD

Moving averages are getting closer; particularly SMA20, which keeps the negative scenario valid and stable move below 1.5270 is required to prove the direction.

SMA50 intersects with 1.5165 and we keep our bearish scenario unchanged.

Support: 1.5100 – 1.5080 – 1.5030

Resistance:1.5165 – 1.5220 – 1.5270

Direction: Bearish

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