Wednesday, November 4, 2015

Technical Analysis on EUR/USD,GBP/USD,USD/JPY, November 4th, 2015

Supported by rising government bonds yield as well as positive economic data, investors are expecting the Fed interest rate hike will come into being soon. Meanwhile, the ADP data coming out of the US at 13:15(GMT) will attract more attentions.
In the European aspect, Draghi suggested that European Central Bank was willing to maintain the easing policy while the level if the policy had to tested on the meeting in December. With that being the case, the EUR will drop down further. 

EUR/USD
As the EUR/USD is in a strong bearish correction, we are buyers of put options until it reaches the support level at 1.0867.
Support:1.0937/1.0867
Resistance:1.0980/1.1003



GBP/USD
The GBP/USD is traded within the support level, but without sufficient bullish momentum, we are cautious of buying put options during the morning the session. Call options can be purchased when there is trading opportunity at the supportive level. 
Support :1.5381/1.5368
Resistance:1.5443/1.5473

USD/JPY
Since the USD/JPY is maintaining a good bullish momentum, we favor of buying call options during the daytime. Position 121.48 can be a small resistance level but can be easily broke through. Call options should be ended between 121.71 and 121.89.
Support:121.00/120.86
Resistance:121.48/121.89

[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 
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