EUR/USD Current price: 1.1165
View Live Chart for the EUR/USD
The EUR/USD pair traded as low as 1.1134 at the beginning of the day, with an European session high posted at 1.1167, following the release of the EU PMIs. Readings were soft but in line with a tepid growth during the third quarter of 2015, not enough however, to boost the EUR. Stocks traded strongly higher in Asia, leading to an also strong opening in Europe. But local share markets have turned into the red, which maintained the common currency in the red ahead of the release of US data. So far, the country has released its weekly unemployment claims for the week ended Sep 25, which resulted at 277K, worse than the 271K expected.
Ahead of the release of US manufacturing figures, the pair advances towards the session high, but with a limited short term upward potential, as the 1 hour chart shows that the price is still struggling to overcome a bearish 20 SMA, whilst the technical indicators are still unable to confirm a continuation rally, heading higher below their mid-lines. In the 4 hours chart however, the price is well below its 20 SMA and below daily descendant trend line coming from 1.1459 around 1.1220, whilst the technical indicators lack directional strength near oversold levels, all of which limits chances of a stronger advance, as long as below 1.1180 the immediate resistance.
Support levels: 1.1120 1.1080 1.1050
Resistance levels: 1.1180 1.1220 1.1250
GBP/USD Current price: 1.5143
View Live Chart for the GPB/USD
The GBP/USD pair continues trading range bound near its lows, having however bounced from the 1.5106 daily high. In the UK, the Markit manufacturing PMI resulted better-than-expected, printing 51.5 against market's forecast of 51.3, but the pair remains capped below 1.5160, an immediate short term resistance. The 1 hour chart shows that the price is a few pips above a flat 20 SMA, whilst the technical indicators head higher above their mid-lines, albeit the price is not able to follow. In the 4 hours chart, however, the price remains below its 20 SMA, whilst the technical indicators remain below their mid-lines, showing no directional momentum at the time being.
Support levels: 1.5120 1.5090 1.5060
Resistance levels: 1.5160 1.5200 1.5245
USD/JPY Current price: 119.70
View Live Chart for the USD/JPY
Short term bearish. The USD/JPY pair trades near its daily low, set at 119.60, with the Japanese yen recovering ground as European share markets fall and the US employment data resulted worse-than-expected, pretty discouraging ahead of the US Nonfarm Payroll release this Friday. The short term picture is now bearish, as the 1 hour chart shows the price is below its 100 and 200 SMAs whilst the technical indicators head south below their mid-lines. In the 4 hours chart, the 200 SMA is extending its decline above the 100 SMA, with the shortest capping the upside around 120.30. In this last time frame, the technical indicators are turning south around their mid-lines, supporting the short term negative view. Overall, the pair maintains the range and will likely do so until the release of US employment data, which needs to be a real surprise either positive or negative to produce a breakout of its usual range.
Support levels: 119.60 119.35 119.00
Resistance levels: 120.00 120.35 120.70
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