Weekly Forex Technical Analysis, Oct 16 – Oct 20, 2017

By:

Published: Oct 15, 2017, 08:04 GMT+00:00

The US Dollar closed the previous weak lower on a weaker than expected consumer inflation report on Friday and the released minutes of the Fed on

The US Dollar closed the previous weak lower on a weaker than expected consumer inflation report on Friday and the released minutes of the Fed on Wednesday.

Currently, investors had priced in a roughly 83 percent probability of a rate increase in December.

In the week ahead, investors will closely watch:

China CPI on Monday at 2:30 GMT
RBA Minutes on Tuesday at 1:30 GMT
UK CPI on Tuesday at 9:30 GMT
Eurozone CPI on Tuesday at 10:00 GMT
China Q3 GDP on Thursday at 3:00 GMT

EUR/USD

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.1573	1.1646	1.1733	1.1806	1.1893	1.1966	1.2053

EUR/USD Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
1.1720	1.1757	1.1781	1.1800	1.1819	1.1880

EUR/USD Daily Chart – Fibonacci

GBP/USD

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
1.2859	1.2967	1.3122	1.3230	1.3385	1.3493	1.3648

GBP/USD Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
1.3075	1.3137	1.3175	1.3206	1.3237	1.3338

GBP/USD Daily Chart – Fibonacci

USD/JPY

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
110.24	110.96	111.38	112.10	112.52	113.25	113.66

USD/JPY Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
111.69	111.96	112.12	112.26	112.39	112.83

USD/JPY Daily Chart – Fibonacci

EUR/JPY

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
129.90	130.88	131.53	132.51	133.16	134.14	134.79

EUR/JPY Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
131.86	132.25	132.49	132.68	132.87	133.49

EUR/JPY Daily Chart – Fibonacci

GBP/JPY

Floor Pivot Points

3rd Sup	2nd Sup	1st Sup	Pivot	1st Res	2nd Res	3rd Res
144.74	145.84	147.07	148.17	149.40	150.50	151.73

GBP/JPY Daily Chart – Pivot Points

Fibonacci Retracement Levels

0.0%	23.6%	38.2%	50.0%	61.8%	100.0%
146.93	147.48	147.82	148.10	148.37	149.26

GBP/JPY Daily Chart – Fibonacci

This post was originally published by EarnForex

About the Author

Andriy Morarucontributor

Editors’ Picks