Tuesday, November 3, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, November 3rd, 2015

Two officials from European Central Bank believe that ECB will enlarge its quantitative easing policy and cut its deposit interest rate, however, that decision is not the final. Due to this announcement,the EUR got a near-term support but without essential changes.   
Meanwhile, Manufacturing PMI and ISM Manufacturing Index coming out the US are outperforming, which has add more chips to the Fed interest rate hike in December. We won’t expect more volatility until the Non-Farm data released on Friday. 

EUR/USD
After a long pullback, the MACD in the 1-hour chart is shrinking. Therefore, we are expecting a fall back correction. Put options can be purchased and suspended at support level at 1.0863/1.0818.
Support:1.0863/1.0818 
Resistance:1.1050/1.1091 

 GBP/USD 
As the GBP/USD is keeping a good bullish momentum, we are expecting a uptick after consolidation during the morning session. With that being the case, we should be cautious of buying put options during the morning session. We are mainly buyers of call options. 
Support:1.5410/1.5363 
Resistance:1.5441/1.5474

USD/JPY
Seen from the 1-hour chart, the bullish sentiment of the USD/JPY is increasing. We prefer buying call options since it may slightly fall back at this position. 
Support:120.43/120.11
Resistance:120.86/121.00 

[Tips]
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