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EURJPY TECHS

Bearish Cycle Still In Play

USDJPY TECHS

Trend Conditions Remain Bullish

FOREX

EURUSD vs. EU-US r-star differential

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]