Technical Overview of EUR/USD, GBP/USD, USD/JPY & USD/CHF: 30.10.2018

Anil Panchal


Failure to cross 100-day SMA seems fetching the EURUSD towards 1.1300-1.1285 support-zone, which if broken highlights the importance of 1.1210 rest-point. In case the pair continue trading southwards past-1.1210, the 1.1180 and the 1.1100 are likely following numbers to appear on the chart. Alternatively, the 1.1430, the 1.1500 and the 1.1530 may keep restricting the pair’s near-term upside, breaking which 100-day SMA level of 1.1600 can please the buyers. Assuming the pair’s D1 close beyond 1.1600, the 1.1655-60 and the 1.1750 could play their roles of resistances.


Unlike EURUSD, the GBPUSD has to close beneath the 1.2785-75 support-region in order to revisit the 1.2680 and the 1.2660 levels. However, pair’s dip below 1.2660 might not hesitate dragging the quote to 61.8% FE level of 1.2470 with 1.2580 being an intermediate halt to watch. On the upside, the 1.2840-50 can be considered as an adjacent barrier for the pair to tackle before targeting the 1.2920 and the 1.3000 round-figure. Moreover, pair’s sustained rise above 1.3000 could help it aim for 1.3055, including 100-day SMA, and the 1.3130 resistance-levels.


Having bounced off the near-term support-line, USDJPY must cross the 112.80-85 horizontal-region on a daily closing basis if it is to justify its strength in recalling the 113.15-20 and the 113.50-55 numbers to north. Given the Bulls’ dominance after 113.55, the 114.00 and the 114.55 might entertain them prior to flashing 61.8% FE level of 115.35 on their radar. Meanwhile, pair’s close below 112.00 support-line can avail 100-day SMA level of 111.60 as rest but its slide below the same can draw market attention to 111.00 and the 110.30 supports. If at all prices can’t hold 110.30 mark, the 200-day SMA level of 109.80 and the 109.00 may lure the Bears.


USDCHF again confronts the 1.0035 horizontal-area, breaking which 1.0055 and the 1.0070 should be optimists’ targets. Though, overbought RSI might confine the pair’s rally above 1.0070, if not then 1.0120 and the 1.0200 are to be traders’ favorites. In case the quote fall short of surpassing 1.0035, immediate ascending TL support of 0.9975 might be of concern. Also, pair’s downtick below 0.9975 can give rise to 0.9950 and the 0.9890 as important levels ahead of shifting limelight to 100-day SMA level of 0.9865.

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