register nowRegister now

Uptrend Remains Intact


Back In Its Bull Channel


Bearish Engulfing Candle


Stocks Bounce, But Still Off Last Week's Best


Havens Offered as Risk Sentiment Repairs


Larger Option Pipeline

1 November 2017
By Kyle Shortland
Click below for today's MNI FX Technical Analysis Report -
DOLLAR-SING TECHS: Sgd1.3558-93 Support Region Key
*RES 4: Sgd1.3720 - High July 17 
*RES 3: Sgd1.3690 - Bollinger band top 
*RES 2: Sgd1.3677 - Hourly resistance Oct 27 
*RES 1: Sgd1.3641 - Hourly resistance Oct 30
*PRICE: Sgd1.3624 @ 2200GMT
*SUP 1: Sgd1.3593 - 21-DMA 
*SUP 2: Sgd1.3558 - 55-DMA, Daily Bull channel base 
*SUP 3: Sgd1.3496 - Bollinger band base 
*SUP 4: Sgd1.3484 - Low Oct 13
*COMMENTARY: Focus returned to Sgd1.3558-93 where the daily bull channel base,
21 & 55-DMAs are located this week following the close below the 100-DMA
(Sgd1.3632). Bears need a close below the channel base to shift immediate focus
to Sgd1.3484 and overall focus back to tests of 2017 lows (Sgd1.3343). Initial
resistance remains at Sgd1.3641 with bulls needing a close above to ease
pressure on key supports.
DOLLAR-WON TECHS: Remains Heavy, Krw1119.0 Support Key
*RES 4: Krw1132.2 - 21-DMA
*RES 3: Krw1131.9 - 55-DMA
*RES 2: Krw1126.8 - High Oct 30
*RES 1: Krw1123.5 - Low Oct 30 now resistance
*PRICE: Krw1124.6 @ 2300GMT
*SUP 1: Krw1119.8 - 200-WMA
*SUP 2: Krw1119.0 - Low Aug 28, Bollinger band base
*SUP 3: Krw1114.3 - High July 27 now support
*SUP 4: Krw1110.5 - 2017 Low Mar 28
*COMMENTARY: Gapping moves left the pair again looking heavy following last
week's topside failures ahead of key DMAs with focus back to Krw1119.0-1119.8
where the 200-WMA is located. Bears continue to look for a close below Krw1119.0
to confirm focus on tests of 2017 lows (Krw1110.5). Bulls now look for a close
above Krw1126.8 to gain breathing room and hint at a bounce back to the 55-DMA.
DOLLAR-MYR TECHS: 100-DMA Capped Last Week
*RES 4: Myr4.2860 - High Aug 30 
*RES 3: Myr4.2680 - High Sept 5 
*RES 2: Myr4.2590 - 100-DMA 
*RES 1: Myr4.2558 - High Oct 26
*PRICE: Myr4.2320 @ 2300GMT
*SUP 1: Myr4.2100 - Low Oct 30 
*SUP 2: Myr4.2062 - Low Oct 16 
*SUP 3: Myr4.1940 - Low Oct 13 
*SUP 4: Myr4.1870 - Low Sept 20
*COMMENTARY: The 100-DMA caped rallies last week with bulls needing a close
above Myr4.2680 to confirm a break and hint at a move back to Myr4.3112-3282
where the 200-DMA is noted. Bulls look for a close above My4.2860 to add support
to their case. Bears now look for a close below Myr4.2100 to shift focus back to
Myr4.1800-1940 following the lack of downside follow through Friday & Monday.
DOLLAR-CNH TECHS: Bears Need Close Below Cnh6.5923
*RES 4: Cnh6.6904 - High Oct 3 
*RES 3: Cnh6.6819 - Bollinger band top 
*RES 2: Cnh6.6795 - 100-DMA 
*RES 1: Cnh6.6651 - High Oct 27
*PRICE: Cnh6.6316 @ 2300GMT
*SUP 1: Cnh6.6207 - 21-DMA
*SUP 2: Cnh6.6074 - 55-DMA
*SUP 3: Cnh6.5923 - High Oct 11 now support
*SUP 4: Cnh6.5568 - Low Oct 11
*COMMENTARY: Daily studies correcting from modestly O/B is a concern for bulls
especially given hesitation ahead of the 100-DMA. Layers of support remain but
bears need a close below Cnh6.5923 to confirm breaks of 21 & 55-DMAs, easing
renewed bullish pressure, and below Cnh6.5568 to initially pressure Cnh6.5053.
The Cnh6.6904 resistance remains key with bulls needing a close above to
reconfirm a bullish bias and target the 200-DMA (Cnh6.7707).
DOLLAR-PHP TECHS: Looking A Little Heavy
*RES 4: Php52.560 - Low July 18 2006 now resistance 
*RES 3: Php52.431 - Daily Bull channel top 
*RES 2: Php52.085 - Monthly Low July 10 2006 now resistance 
*RES 1: Php51.850 - 2017 High Oct 27
*PRICE: Php51.610 @ 2300GMT
*SUP 1: Php51.532 - Daily Bull channel base A 
*SUP 2: Php51.363 - 21-DMA 
*SUP 3: Php51.350 - Low Oct 18 
*SUP 4: Php51.161 - 55-DMA
*COMMENTARY: Daily studies at O/B levels and the Bollinger top (Php51.885)
recently capping appear to be impacting with the pair looking a little heavy
after trading at fresh 2017 highs last week. Focus now shifts to 21 & 55-DMAs.
Bulls now need a close above 2017 highs to reconfirm the bullish bias and
initially focus on tests of Php52.085.
DOLLAR-THB TECHS: Thb33.10 Support Remains Key
*RES 4: Thb33.54 - High Oct 3 
*RES 3: Thb33.42 - Bollinger band top 
*RES 2: Thb33.41 - 100-DMA 
*RES 1: Thb33.35 - High Oct 27
*PRICE: Thb33.22 @ 2300GMT
*SUP 1: Thb33.10 - Low Oct 26 
*SUP 2: Thb33.01 - 2017 Low Sept 7 & 8, Oct 16 
*SUP 3: Thb32.98 - Monthly Low May 1 2015 
*SUP 4: Thb32.52 - Low Apr 27 2015
*COMMENTARY: The break of Thb33.25 has so far lacked follow through but is
enough to see bulls focused on Thb33.35-41 where the 100-DMA is located. Bears
now need a close below Thb35.10 to confirm a false break higher and see
immediate focus return to 2017 lows and the Thb32.98-33.01 region as a whole.
Narrowing Bollinger bands are hinting at a break out.
DOLLAR-IDR TECHS: Daily Studies Correcting From O/B
*RES 4: Idr13698 - Monthly High June 2 2016 
*RES 3: Idr13649 - Rising TL off Sept & Oct highs 
*RES 2: Idr13640 - 2017 High Oct 27 
*RES 1: Idr13605 - High Oct 30
*PRICE: Idr13560 @ 2300GMT
*SUP 1: Idr13525 - 21-DMA 
*SUP 2: Idr13500 - Low Oct 23 
*SUP 3: Idr13455 - Low Oct 5 
*SUP 4: Idr13450 - Bollinger band base
*COMMENTARY: Daily studies now correcting from O/B are a key concern for bulls
and have resulted in a break and close below the daily bull channel base
(Idr13598). Immediate focus has shifted to the 21-DMA with bears needing a close
below to add weight to their case for a move back to Idr13455. Bulls now need a
close above Idr13605 to ease bearish pressure and return immediate focus to 2017
DOLLAR-INR TECHS: Topside Failures Taking Their Toll
*RES 4: Inr65.525 - Bollinger band top 
*RES 3: Inr65.413 - High Oct 9 
*RES 2: Inr65.2047 - 200-DMA 
*RES 1: Inr65.003 - Daily Bear channel top
*PRICE: Inr64.745 @ 2300GMT
*SUP 1: Inr64.685 - Low Oct 16 
*SUP 2: Inr64.645 - Bollinger band base 
*SUP 3: Inr64.543 - 55-DMA 
*SUP 4: Inr64.466 - 100-DMA
*COMMENTARY: Having remained capped ahead of the 21 (Inr65.085) and 200-DMAs on
the recovery from Inr64.685 the pair is again looking heavy with immediate focus
on Inr64.685. Bears need a close below to shift focus to Inr64.190-543 where 55
& 100-DMAs and the bear channel base are situated. The Bollinger base is the key
concern for bears with potential to limit follow through. Bulls need a close
above the 200-DMA to end bearish hopes and shift focus back to Inr65.413-890.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: