FX77 Option: October 2015

Thursday, October 29, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 29th, 2015

The Fed declared on October 28th that they will keep the benchmark interest rate unchanged in a bid to further improve the progress which has been made on employment and steady product price. The meeting also indicates that an interest rate hike will happen on December, which is beyond the expectation. With that being the case, the USD continues to rise.

EUR/USD
Influenced by FOMC meeting, the EUR/USD has encountered a big slum. As there can be a short-term pullback during the morning session, we are cautious of buying call options. However, we are mainly buyers of put options.
Support：1.0810/1.0756
Resistance：1.0967/1.1000/1.1050

GBP/USD
Seen from the 1-hour chart, the GBP/USD is in a bearish sentiment that provides us opportunity of buying put options. Put options should be suspended when it reaches the supportive level at 1.5203. It can get considerable
Support：1.5203/1.5106
Resistance：1.5310/1.5320/1.5333

USD/JPY
Seen from the 1-hour and 4-hour chart, the USD/JPY is in a slight correction. Therefore, we favor of buying put options during the morning session while call options can be purchased adapted to the big board after the European session.
Support：120.58/120.26/120.00
Resistance：120.86/121.80

[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us at
http://www.fx77.com/?lang=en&B&campaign=170

Wednesday, October 28, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 28th,2015

An indicator reflecting American Enterprises Investment Scheme is in a fall for two consecutive months since September, indicating a big slump on American economy. With that being the case, most analysts believe the possibility of interest rate hike by the end of this year has decreased. During the session today, we should continue to focus on FOMC meeting and get more information on USD policy etc.

EUR/USD
The EUR/USD continues to drop down with a slight horizontal consolidation pattern. However, seen from the 1-hour chart, there can be two occasions. One is bouncing back to 1.1012 and continues to climb up, other is dropping to 1.0996 and bouncing back which can form a bottom deviation pattern. Put options can be purchased with caution during the morning session until it reaches 1.1012. Call options can be purchased when it breaks through 1.1069.
Support：1.1000/1.0941/1.0847
Resistance：1.1069/1.1142/1.1170

GBP/USD
Viewed from the 1-hour chart, the GBP/USD is in a bearish trend and a bottom deviation pattern has been formed, therefore, the bearish trend may go even deeper. We can be cautious buyers of call options and suspended at 1.5262.
Support：1.5262/1.5204/1.5106
Resistance：1.5340/1.5365/1.5388

USD/JPY
The USD/JPY falls back but get sufficient support at the near-term supportive level at 120.16. Seen from the 1-hour chart, the bullish sentiment has not been accumulated, so we have to wait and test the pullback. Call options can be purchased at the break of 120.58.
Support：120.16/119.76/119.61
Resistance：120.60/120.78/120.86

Tuesday, October 27, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 27th,2015

From October 27th to 28th, the market should focus on Fed’s interest rate decision meeting. Most investors believe that the Fed will remain the interest rate unchanged and it’s unlikely for them to hike the interest rate within this year. Nevertheless, we still cannot deny the possibility of interest rate hike as the Fed consistently holds a optimistic attitude towards the US economy. With that being the case, the market can be volatile making it difficult to control the trading.

EUR/USD

Seen from the 1-hour chart, the EUR/USD continues to rebound so we can buy call options during the morning session. Meanwhile, the pullback range is limited for there exists sufficient pressure.

Support：1.0941/1.0850/1.0757

Resistance：1.1082/1.1100/1.1123

GBP/USD

The GBP/USD continues to trade in pullback but reaches the resistance level. We may have to wait and see during the morning session. Put options can be purchased at the resistance level.

Support：1.5318/1.5272/1.5261

Resistance：1.5368/1.5372/1.5400

USD/JPY

Seen from the 1-hour chart, the USD/JPY is in a slight pullback that provides opportunities of buying put options. Put options should be stopped when the price goes back above 121.00 and changed to call options.

Support：120.58/120.21/120.18

Resistance：120.98/121.34/121.48

[Tips]

All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us at

http://www.fx77.com/?lang=en&B&campaign=170

Thursday, October 22, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 22nd,2015

Today’s focus should be the interest rate decision by European Central Bank released at 11:45(GMT). Due to the slowdown of international trading and market volatility, Eurozone’s economy recovery has been hit with big slump. Till to end of this year, officers from European Central Bank suggested that they may initiate a new quantitative easing policy to stimulate the economy. The market is also inclined to support an easing policy. With that being the case, it will tumble the currency pair EUR/USD

EUR/USD
Seen from the average line movement and 4-hour chart, the EUR is in a slight bearish trend with correction, which offers opportunity of buying put options. Put options should be suspended when it breaks through 1.1350 and change to call options. The Eurozone interest rate decision released in the evening deserves special
Support：1.1324/1.1318/1.1300
Resistance：1.1355/1.1375/1.1400

GBP/USD
Even though the bearish sentiment of the GBP/USD is declining, it still continues to fall. Therefore, we are cautious of buying put options. Call options can be confirmed when the price goes back to 1.5450.
Support：1.5400/1.5370/1.5355
Resistance：1.5450/1.5460/1.5500

USD/JPY
We prefer buying put options since the pullback of USD/JPY has converted to bearish trend. Seen from the 1-hour chart, the price of the EUR/USD should go down when it hits the key resistance level at 120.00. Call options can be purchased when it runs steadily above 120.00.
Support：119.70/119.66/119.37
Resistance：120.00/120.17/120.53

Monday, October 19, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY,October 19th,2015

Britain will not postpone but hike its interest rate in advance, Forbes from Bank of England(MPC)said that, the investors are exaggerating the slowdown economy of emerging economies. Even though British economy is still optimistic, it ma slow down with declining domestic needs. With that being the case, we believe that it cannot cause much volatility to GBP since the interest rate hike will happen at least until next year.

EUR/USD
The EUR/USD pair still maintains a pretty good bullish pattern with strengthen signal at the supportive level of 1.1350. But the direction has to be confirmed unless it bounce back to 1.1390. Since it runs at this area during the morning session, we prefer buying call options at the break of 1.1390. Put options is not suggested unless it bounces down 1.1350.
Support：1.1350/1.1316/1.1302
Resistance：1.1391/1.1415/1.1433

GBP/USD
Viewed from all kind of period chart, the GBP/USD pair is obviously in a correction. Its MACD in the 1-hour chart is approaching the 0 axis that indicates a bearish momentum. Therefore, we are mainly buyers of put options.
Support：1.5413/1.5390/1.5380
Resistance：1.5462/1.5486/1.5500

USD/JPY
The USD/JPY pair continues to fall in general. Seen from the 1-hour chart, the bullish momentum still exist while without sufficient support. Therefore, we are mainly buyers of put options. Put options should be suspended when it breaks through 119.60.
Support：119.00/118.30/117.50
Resistance：119.52/119.80/120.00

Wednesday, October 14, 2015

Technical Analysis on EUR/USD, GBP/USD, USD/JPY, October 13rd,2015

European Central Bank Governor Draghi addressed that a bond-buying program involving thousands of billions Euro would be adjusted on its scale, content and deadline. Analysts from the world’s leading investment bank consistently believe Eurozone’s easing policy may drag the Euro down. With that being the case, we believe the EUR/USD pair may drop down that provides us opportunity of buying put options. We have to wait a further break through above 1.1400 to determine the moving direction.

EUR/USD
As the EUR/USD continues to drop back with correction with its MACD shrinking, we can mainly buy put options during the session today. We may have to wait for adjustment to buy call options from afternoon session to evening session.
Support：1.1340/1.1324/1.1280
Resistance:1.1385/1.1403/1.1459

GBP/USD
Since the GBP/USD pair continue to drop down with correction, put options can be purchased and suspended at 1.5280. We have to wait to confirm the bullish sentiment for the bearish movement may continue.
Support：1.5280/1.5245/1.5250
Resistance：1.5360/1.5394/1.5414

USD/JPY
The USD/JPY is traded with slight bearish sentiment that provides opportunity of buying put options during the morning session. Put options can be suspended when it bounces to 120.20.
Support：119.60/119.00/118.32
Resistance：120.11/120.45/120.70

[Tips]
All the information mentioned above is for reference only. FX77 Option team will keep an eye on the market and set the trading strategies specifically. If you are looking for more real-time signal-providing services and investment instructions, please follow us at
http://www.fx77.com/?lang=en&FB&campaign=170

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 14th, 2015

China’s export continues to fall for the tenth consecutive month, increasing the concern that China’s slowdown economy will strike global economy growth. Gertjan Vlieghe from Bank of England(MPC) suggested on October 13rd that there was a greater chance for a lower-than-target British inflation. Meanwhile, he believes that the effect of quantitative easing policy is shrinking as time goes by that should have a positive effect on the GBP.

EUR/USD
The EUR/USD pair continues to rise with fair strong bullish sentiment that provides opportunities of buying call options. Based on a steady operation, call options can be confirmed when it breaks though the key position at 1.1400. Notice that when it bounces below 1.1362, there may be a bearish consolidation.
Support：1.1350/1.1311/1.1260
Resistance：1.1474/1.1565/1.1700

GBP/USD
The bullish momentum of the GBPUSD pair still exists while waxing, so we are cautious of buying put options or wait for other trading opportunities. Call options can be purchased with caution when it bounces up 1.5320. However, the bullish momentum of the GBP/USD can be confirmed when it bounces up 1.5410.
Support：1.5223/1.5214/1.5172
Resistance：1.5280/1.5300/1.5326

USD/JPY
As the USD/JPY continues to drop down with bearish sentiment, we are buyers of put options during the session today. Put options should be suspended at 120.10 and convert to call options.
Support：119.00/118.66/11830
Resistance：120.00/120.40/120.60

Monday, October 12, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 12nd,2015

Analysts predict that Fed may postpone its interest rate hike until next year in March. Macro economy investigator Ma Yao from CI Consulting suggested that the world is experiencing an economy downturn. As a result, many countries are depreciating their currencies. Under this condition, the US dollar has already depreciated. If they do hike the interest rate, it may strand its export as well as the real economy. However, the US is now in a barely low inflation rate with steady price. With that being the case, it’s not that urgent for the US to hike its interest rate.

EUR/USD
As the EUR/USD has been trading in a pretty good bullish momentum, we are generally buyers of call options. Key pressure level 1.1376 can be the key position to judge the direction, if broken through for twice, call options can be purchased. Otherwise we prefer buying put options.
Support：1.1339/1.1307/1.1256
Resistance：1.1376/1.1396/1.1458

GBP/USD
Since the GBP/USD has shown a slight bullish sentiment in the 1-hour chart, we are cautious of buying put options from morning to afternoon session. We have no interest buying call options until it breaks through 1.5340.
Support：1.5304/1.5276/1.5254
Resistance：1.5332/1.5371/1.5422

USD/JPY
The price movement of the USD/JPY is quite abnormal as it has been in the box range for over a month since the previous big slump. We still believe it will continue to fluctuate during the session today. Put options can be purchased during the morning session. While we have to wait and see whether to buy call or put from afternoon session to evening session.
Support：119.80/119.73/119.40
Resistance：120.32/120.45/120.81

Thursday, October 8, 2015

Technical Analysis on EUR/USD, GBP/USD, JPY/USD, October 8th,2015

During the session today, there are three main announcements coming out of the market. Benchmark interest rate will come out of Bank of England at 11:00(GMT), AND European Central Bank Minutes will see light at 11:30(GMT). At 18:00(GMT), the federal reserve will also release its meeting minutes. With that being in the case, we are expecting more volatility in the market that provides opportunity to trade.

EUR/USD
Seen from the 1-hour chart, the MACD of the EUR/USD pair is approaching the 0 axis. Meanwhile, combing the 4-hour chart and 1-day chart, it has clearly shows a bullish trend. Therefore, we are mainly buyers of call options during the session today.
Support：1.1210/.1183/1.1140
Resistance：1.1257/1.1322/1.1345

GBP/USD
The GBP/USD pair yesterday surged to the pressure level 1.5331 in the 1-hour chart. Meanwhile, because of there is no obvious correction pattern, it requires a correction to pullback. Therefore, we are cautious of buying put options. But we should be alert that if pressure level 1.5319 is broken, we have to wait for another pressure level to enter the position for buying put options.
Support：1.5250/1.5191/1.5110
Resistance：1.5318/1.5331/1.5400

USD/JPY
The USD/JPY pair has been in the box range for a long time, while it’s technically supposed to fall contentiously. After experiencing the horizontal consolidation for such a long time, the day line shows that the bearish sentiment is waxing while the bullish momentum is increasing. Since the price movement is quite subtle, we would trade it with a thought of sideways. With that being in the case, we are cautious of buying put options during the morning session, while we have to adapt our strategies based on the big board to operate trading the afternoon and evening. Put options should be suspended above 120.20
Support：119.50/119.41/119.15
Resistance：120.28/120.54/120.89

Tuesday, October 6, 2015

Technical Analysis on EUR/USD, GBP/USD, USD/JPY, October 6th, 2015

As the Fed’s interest rate hike has calm down, this week’s focus is drawn to central bank’s interest rate decision and currency policy in other countries. During the session today, interest rate decision will come out of Australia and Britain. We will also anticipate Japan’s currency decision as well as the federal reserve currency policy minutes. Meanwhile, as the top pattern of the USD index has existed for a long time, it may run into failure if without further decline and climb to 96.50 within this week. Therefore, the USD index should be under intense scrutiny this week.

EUR/USD
The EUR/USD pair contemporary converts to bearish trend, so we are mainly buyers of put options. Since there may be some short-term support to pull it back at 1.1140, we should stop buying put options at 1.1100. Put options should also be suspended at 1.1220.
Support：1.1140/1.1100/1.1027
Resistance：1.1225/1.1258/1.1347

GBP/USD
As the GBP/USD pair is back to bearish trend, we favor of buying put options until it drops to supportive level at 1.5106 and 1.5090. Since the supportive level at 1.5090 cannot be easily broke through, we can start buying call options at this position.
Support：1.5106/1.5090/1.4900
Resistance：1.5250/1.5320/1.5400

USD/JPY
The 4-hour chart of the USD/JPY pair shows that its bullish momentum is increasing and it’s likely to continue its pullback. But we believe it cannot raise too high. Call options can be purchased during the daytime, while put options can be purchased during the evening.
Support：119.00/118.30/117.51
Resistance：120.60/121.10/121.20

Monday, October 5, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, October 5th,2015

With the weak Non-Farm data released last Friday, the Non-Farm Employment Number is only 142,000, while the previous reading is 173,000. Due to the worry of the global slowdown economy, the Fed’s interest rate hike is in a pretty low probability so that the US index may drop down with correction. In the following week, we can operate trading based on the trend of the US index.

EUR/USD
Seen from the 4-hour chart, the bullish momentum still exist within the EUR/USD pair, so we are mainly buyers of call options. However, with declining bullish sentiment shown in the 1-day chart, call options should be ended at 1.1200.
Support：1.1200/1.1178/1.1138
Resistance：1.1258/1.1282/1.1324

GBP/USD
Since the GBP/USD pair is trading with pullback, we like the idea of buying call options. Call options should be ended when it drops below 1.5166.
Support: 1.5166/1.5118/1.5100
Resistance: 1.5236/1.5276/1.5318

USD/JPY
The USD/JPY pair is still in a bearish trend, so we temporally should adopt short-term operation and mainly buy call options. Put options can be purchased before the European session, while call options can be purchase if the price drops to the supportive level in the evening. Put options should be ended if it breaks through 120.20.
Support：119.00/118.30/117.51
Resistance：120.25/120.59/121.14