Instaforex Analysis

[InstaForex Gertrude]

Technical analysis of EUR/USD for Oct 18, 2016

When the European market opens, no economic data will be released, but the speech of ECB President Draghi is expected. The US will publish TIC Long-Term Purchases, NAHB Housing Market Index, Core CPI m/m, CPI m/m. Amid the reports EUR/USD is likely to move in a low to medium volatility during this day.

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.1063.
Strong Resistance:1.1057.
Original Resistance: 1.1046.
Inner Sell Area: 1.1035.
Target Inner Area: 1.1009.
Inner Buy Area: 1.0983.
Original Support: 1.0972.
Strong Support: 1.0961.
Breakout SELL Level: 1.0955.

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[IFX Yvonne]

Technical analysis of USDX for October 19, 2016

The Dollar index is moving sideways near its recent highs. Price has broken out of the bullish channel but there is no bearish trend in any time frame. Price is moving sideways in what we could say is a triangle pattern.

Green lines - bullish channel
Blue lines - triangle pattern

The Dollar index is consolidating near its recent highs. Short-term support is at 97.65 and resistance at 98.15. A breakout above resistance is expected to be short-lived as oscillators are diverging. A break below support will open the way for a push towards 96.

Red lines - sideways long-term channel
Green line - important medium-term support
Blue lines - projected possible path

I expect the Dollar index to make at least one pullback towards the green trend line support and the Kumo. A bounce will then follow most probably, but for now I focus on the bearish side of the index expecting a pullback from the current levels.


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