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MNI European Morning FX Technical Analysis 

25 October 2017
By Kyle Shortland
Please click on this link to access MNI's daily European FX Technical Analysis
Pdf - http://tinyurl.com/kvgb59s
EURO-DOLLAR TECHS: $1.1826-80 Resistance Region Key
*RES 4: $1.1858 High Oct 19 
*RES 3: $1.1829 Daily Bear channel top 
*RES 2: $1.1826 Hourly resistance Oct 20 
*RES 1: $1.1793 High Oct 24
*PRICE: $1.1755 @ 0430GMT
*SUP 1: $1.1742 Low Oct 24 
*SUP 2: $1.1725 Low Oct 23 
*SUP 3: $1.1716 Hourly resistance Oct 6 now support 
*SUP 4: $1.1669 Low Oct 6
*COMMENTARY: Rallies the past two weeks remained capped ahead of the daily bear
channel top with focus having shifted to layers of support $1.1583-1.1669. Bulls
look for a close above the 21-DMA ($1.1777) to gain breathing room. The
$1.1826-80 resistance region remains key. Bulls need a close above $1.1880 to
confirm a break of the bear channel top ($1.1829) & 55-DMA ($1.1839) and shift
focus back to $1.2033.
     CABLE TECHS: Capped Ahead Of Key Resistance
*RES 4: $1.3224 21-DMA 
*RES 3: $1.3191 Hourly resistance Oct 24 
*RES 2: $1.3158 Low Oct 23 now resistance 
*RES 1: $1.3140 Hourly resistance Oct 24
*PRICE: $1.3133 @ 0430GMT
*SUP 1: $1.3113 Low Oct 23 
*SUP 2: $1.3088 Low Oct 20 
*SUP 3: $1.3052 100-DMA 
*SUP 4: $1.2995 High Sept 1 now support
*COMMENTARY: Yet another topside failure around $1.3228 has left the pair
looking heavy with focus reconfirmed on the $1.2995-1.3088 support region. Bears
continue to look for a close below $1.2995 to shift focus back to the 200-DMA
($1.2830). Daily studies remain well placed for a fresh leg lower. Bulls now
need a close above $1.3160 to gain breathing room and above $1.3228 to shift
immediate focus to $1.3343
     DOLLAR-YEN TECHS: Y112.30-113.06 Support Region Key
*RES 4: Y115.62 High Jan 19 
*RES 3: Y115.34 Falling LT weekly TL 
*RES 2: Y114.49 Monthly High July 11 
*RES 1: Y114.10 High Oct 23
*PRICE: Y113.93 @ 1930GMT
*SUP 1: Y113.50 Hourly resistance Oct 24 now support 
*SUP 2: Y113.25 Low Oct 24 
*SUP 3: Y113.06 Hourly support Oct 20a 
*SUP 4: Y112.74 Hourly resistance Oct 19 now support
*COMMENTARY: Bulls take comfort in support emerging ahead of Y112.30-113.06 with
pressure having returned to Y114.10-49. Bulls need a close above Y114.49 to
pressure Y115.34-115.62 where further monthly highs are noted. The Bolli band
top (Y113.78) remains the key concern for bulls and limits follow through. Bears
look for a close below Y113.06 to ease immediate bullish pressure and below
Y112.30 to shift focus back to Y111.09-73 where key DMAs are noted.
     EURO-YEN TECHS: Below 21-DMA Shifts Focus to Y131.52-65
*RES 4: Y134.59 Monthly High Dec 4 2015
*RES 3: Y134.41 2017 High Sept 22
*RES 2: Y134.25 High Sept 25
*RES 1: Y134.11 High Oct 23
*PRICE: Y133.94 @ 0430GMT
*SUP 1: Y133.75 Hourly support Oct 25 
*SUP 2: Y133.50 Hourly support Oct 24 
*SUP 3: Y133.03 Low Oct 23 
*SUP 4: Y132.91 Hourly support Oct 19
*COMMENTARY: Hesitation ahead of the key Y134.25-59 resistance region is less
than ideal for bulls who look for a close above Y134.59 to potentially target
Y139.02-141.05. Bulls take comfort in bounce from ahead of the 21-DMA Tuesday
that has returned immediate pressure to key resistance levels. Bears now look
for a close below Y133.50 to gain breathing room and below the 21-DMA now to
hint at a deeper sell-off targeting Y131.52-65 where the 55-DMA is situated.
     EURO-STERLING TECHS: Below 21-DMA Targets Gbp0.8727-57
*RES 4: Gbp0.9033 High Oct 12 
*RES 3: Gbp0.9002 55-DMA 
*RES 2: Gbp0.8975 High Oct 24 
*RES 1: Gbp0.8967 Hourly resistance Oct 25
*PRICE: Gbp0.8950 @ 0430GMT
*SUP 1: Gbp0.8940 Hourly resistance Oct 20 now support 
*SUP 2: Gbp0.8919 Hourly support Oct 24 
*SUP 3: Gbp0.8904 21-DMA 
*SUP 4: Gbp0.8856 Low Oct 16
*COMMENTARY: The 21-DMA has confirmed significance so far this week with bears
continuing to look for a close below to hint at a move back to Gbp0.8727-57
where the 200-DMA & 55-WMA are situated with below Gbp0.8856 confirming. The
Gbp0.9002-48 resistance region remains key. Bulls still need a close above
Gbp0.9048 to end bearish hopes and shift focus to Gbp0.9107-0.9202.
     AUSSIE TECHS: Focus Firmly On $0.7692-0.7712
*RES 4: $0.7834 - High Oct 23
*RES 3: $0.7827 - 100-DMA
*RES 2: $0.7796 - Low Oct 23 now resistance
*RES 1: $0.7765 - Low Oct 11 now resistance
*PRICE: $0.7717 @ 0430GMT
*SUP 1: $0.7712 - High June 30 now support 
*SUP 2: $0.7692 - 200-DMA 
*SUP 3: $0.7631 - 55-WMA 
*SUP 4: $0.7564 - Low June 26
*COMMENTARY: Consolidation below 21 & 100 DMAs sees pressure on key
$0.7692-0.7712 supports  where the 200-DMA is located. Bears need a close below
the 200-DMA to shift focus back to $0.7520-31 where the 100-WMA is noted. Daily
studies have room to move before O/S is an issue with the Bollinger base
($0.7734) a concern. Bulls need a close above $0.7834 to ease bearish pressure
and above the 55-DMA to end bearish hopes and shift initial focus to $0.7986.
     US DOLLAR-INDEX TECHS: 94.476 Resistance Key This Week
*RES 4: 94.476 - Low July 18 now resistance 
*RES 3: 94.267 - High Oct 6 
*RES 2: 94.089 - Bollinger band top 
*RES 1: 94.073 - 100-DMA
*PRICE: 93.997 @ 0430GMT
*SUP 1: 93.682 - Low Oct 24
*SUP 2: 93.517 - Hourly support Oct 20
*SUP 3: 93.347 - Hourly support Oct 20A
*SUP 4: 93.055 - Low Oct 19
*COMMENTARY: Bulls take comfort in support emerging on dips back towards the
55-DMA (92.955) last week although hesitation ahead of the 100-DMA is a concern.
94.073-476 resistance region is key. Bulls need a close above 94.476 to confirm
a break of the 100-DMA and to shift immediate focus to 95.167-464. Layers of
support are again building. Bears need a close below 93.682 to ease bullish
pressure and below 92.724 to confirm a break of the 55-DMA & shift focus lower.
     US 10-YR YIELD TECHS: Close Above 2.437 Targets 2017 Highs
*RES 4: 2.558 - Low Mar 13 now resistance 
*RES 3: 2.544 - High Mar 17 
*RES 2: 2.530 - Daily Bull channel top 
*RES 1: 2.437 - High Mar 23
*PRICE: 2.420 @ 0430GMT
*SUP 1: 2.394 - Hourly support Oct 24 
*SUP 2: 2.363 - Hourly support Oct 23 
*SUP 3: 2.350 - Hourly support Oct 20 
*SUP 4: 2.332 - Alternating hourly support/resistance
*COMMENTARY: Bulls take comfort in fresh 7mth highs following the bounce from
ahead of the 2.332-350 support region that sees immediate pressure on 2.437.
Bulls now need a close above this level to shift immediate focus to 2.544-558
and overall focus back to tests of 2017 highs (2.628). Support layers are
building with bears needing a close below 2.350 to ease bullish pressure and
below the 200-DMA (2.313) to shift focus back to 2.244-278.
NYMEX WTI: (Z17) Bulls Need Close Above $53.11 
*RES 4: $53.73 - Low Apr 18 now resistance 
*RES 3: $53.11 - Monthly High Sept 28 
*RES 2: $53.08 - Bollinger band top 
*RES 1: $52.65 - High Oct 16
*PRICE: $52.44 @ 0430GMT
*SUP 1: $52.36 - Hourly support Oct 24 
*SUP 2: $51.55 - Low Oct 24 
*SUP 3: $51.48 - 21-DMA 
*SUP 4: $50.87 - Low Oct 20
*COMMENTARY: Topside hesitation ahead of the $52.65-53.11 region is less than
ideal for bulls who need a close above to shift focus to $53.73-55.03 where the
bull channel top ($54.98) is located. Bulls took comfort in the bounce from
ahead of the 200-DMA ($50.67) Friday. The 21-DMA is key support today with bears
needing a close below to ease immediate bullish pressure and shift focus to
$50.10-87 where the 55 ($50.10) & 200 ($50.66) DMAs are noted.
SPOT GOLD: Remains Heavy
*RES 4: $1291.1 - Hourly resistance Oct 19 
*RES 3: $1285.9 - Hourly resistance Oct 20 
*RES 2: $1282.3 - 21-DMA 
*RES 1: $1277.8 - Hourly resistance Oct 25
*PRICE: $1272.8 @ 0430GMT
*SUP 1: $1270.7 - Hourly support Oct 6 
*SUP 2: $1264.6 - Bollinger band base 
*SUP 3: $1260.6 - Low Oct 6 
*SUP 4: $1259.0 - 200-DMA
*COMMENTARY: Pressure on the 100-DMA has so far failed to produce the close
below needed to see bears confirm focus on tests of $1243.4-1260.1 where the
daily bull channel base ($1247.6) and 200-DMA ($1259.0) are noted. Bulls need a
close above the 21-DMA to ease immediate bearish pressure and above $1306.0 to
pressure $1313.6-1320.0. Daily studies remain well placed for further losses.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]
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