Trial now
USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

MNI US Morning FX Technical Analysis

10 October 2017
By Kyle Shortland
     
Click below for today's MNI US Morning FX Technical Analysis Report -
http://tinyurl.com/jz5y37x
EURO-DOLLAR TECHS: $1.1862 Resistance Key This Week
*RES 4: $1.1896 Daily Bear channel top 
*RES 3: $1.1862 Low Sept 20 now resistance 
*RES 2: $1.1838 55-DMA, 21-DMA 
*RES 1: $1.1788 High Oct 4
*PRICE: $1.1779 @ 0930GMT
*SUP 1: $1.1756 Hourly resistance Oct 9 now support 
*SUP 2: $1.1739 Hourly support Oct 10 
*SUP 3: $1.1716 Hourly resistance Oct 6 now support 
*SUP 4: $1.1661 Low Aug 17
*COMMENTARY: Follow through was lacking on fresh lows for the week Friday with
the pair finding support and bouncing ahead of the daily bear channel base and
layers of support $1.1583-1.1661. Below $1.1583 is needed to see bears shift
focus to $1.1477. Bulls now need a close above $1.1788 to hint at a correction
back to $1.1838-62 where 21 & 55-DMAs are noted. Daily studies correcting from
O/S are the key concern for bears.
CABLE TECHS: Bulls Need Close Above $1.3224
*RES 4: $1.3356 21-DMA 
*RES 3: $1.3343 Low Sept 28 now resistance 
*RES 2: $1.3297 Hourly resistance Oct 2 
*RES 1: $1.3224 Low Oct 3 now resistance
*PRICE: $1.3183 @ 0930GMT
*SUP 1: $1.3136 55-DMA 
*SUP 2: $1.3124 Hourly resistance Oct 9 now support 
*SUP 3: $1.3074 Hourly support Oct 9 
*SUP 4: $1.3050 Bollinger band base
*COMMENTARY: The new week saw the 100-DMA supporting and bulls looking for a
close above $1.3224 to distance themselves from the 55-DMA ($1.3136) and shift
focus back to the 21-DMA ($1.3356). Daily studies correcting from O/S add
support to the case for a correction back to $1.3343-56. Key support is noted at
$1.3124 with bears needing a close below to confirm a break below the 55-DMA,
easing bullish pressure and returning focus to $1.2995-1.3018.
DOLLAR-YEN TECHS: Finding Support On Dips
*RES 4: Y113.70 Low July 11 now resistance 
*RES 3: Y113.44 High Oct 6 
*RES 2: Y113.18 Hourly support Oct 6 now resistance 
*RES 1: Y112.89 Hourly resistance Oct 6
*PRICE: Y112.42 @ 0930GMT
*SUP 1: Y112.33 Low Oct 4 & Hourly support Oct 9 
*SUP 2: Y112.22 Low Sept 29 
*SUP 3: Y112.01 21-DMA 
*SUP 4: Y111.88 200-DMA
*COMMENTARY: The lack of topside follow through continued Friday with the break
of Y113.26 capped ahead of Y113.70. Bulls need a close above 113.70 to confirm
focus on July highs (Y114.49). The dip to Y112.33 Monday again saw support
emerge. Bears look for a close below Y112.22 to pressure 21 & 200-DMAs and below
Y111.48 to shift focus to 55 (Y110.65) & 100 (Y111.11) DMAs. Below the 55-DMA is
needed hint at a move to 2017 lows with below Y109.52 confirming.
EURO-YEN TECHS: Y131.74 & Y133.49 Levels Key
*RES 4: Y134.25 High Sept 25
*RES 3: Y133.49 Hourly resistance Sept 25
*RES 2: Y133.11 High Sept 29
*RES 1: Y132.88 High Oct 3
*PRICE: Y132.39 @ 0930GMT
*SUP 1: Y132.26 Hourly support Oct 10 
*SUP 2: Y131.97 Hourly support Oct 9 
*SUP 3: Y131.74 Low Sept 26 
*SUP 4: Y130.97 55-DMA
*COMMENTARY: Despite pressuring the key Y131.74 support bears have failed to
manage the close below needed to shift immediate focus to Y130.38-97 where the
55-DMA & 200-WMA are noted. Bears now need a close below Y132.26 to return
pressure to the key Y131.74 support. Bulls take comfort in support emerging on
dips back below Y132.00 but now need a close above Y133.49 to return focus to
Y134.25-41.
EURO-STERLING TECHS: Bears Need Close Below 21-DMA
*RES 4: Gbp0.9013 55-DMA
*RES 3: Gbp0.8992 High Oct 6
*RES 2: Gbp0.8969 Hourly sup[port Oct 9 now resistance
*RES 1: Gbp0.8949 Hourly resistance Oct 10
*PRICE: Gbp0.8938 @ 0930GMT
*SUP 1: Gbp0.8906 Low Oct 9 
*SUP 2: Gbp0.8886 High Sept 22 now support 
*SUP 3: Gbp0.8862 21-DMA 
*SUP 4: Gbp0.8801 Low Oct 2
*COMMENTARY: Bulls have so far failed to capitalise on the close above Gbp0.8920
with the Gbp0.8992-0.9045 resistance key. Bulls need a close above Gbp0.9045 to
confirm a break of the 55-DMA, hint at a move back to Gbp0.8213-0.9306 and above
Gbp0.9107 to confirm. Layers of support remain with bears now needing a close
below the 21-DMA (Gbp0.8862) to end bullish hopes and shift focus back to
Gbp0.8717-57 where the 200-DMA & 55-WMA are found.
SPOT GOLD TECHS: Bulls Now Need Close Above $1296.4
*RES 4: $1296.4 - High Sept 27 
*RES 3: $1294.9 - 21-DMA 
*RES 2: $1293.6 - 55-DMA 
*RES 1: $1290.3 - High Sept 29
*PRICE: $1288.8 @ 0930GMT
*SUP 1: $1285.1 - Hourly support Oct 10 
*SUP 2: $1277.6 - Hourly resistance Oct 6 now support 
*SUP 3: $1270.7 - Hourly support Oct 6 
*SUP 4: $1266.3 - Hourly resistance Oct 6 now support
*COMMENTARY: The lack of follow through on 2mth lows Friday was less than ideal
given daily studies looking to correct from O/S adding support to the case for a
correction. Bulls again look for a close above $1296.4 to shift initial focus
back to $1313.6-1320.0. Key support is noted at $1277.6 with bears needing a
close below to retain focus on $1241.4-1254.4 where the bull channel base and
200-DMA are situated.
--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com
[TOPICS: MTABLE]