MNI US Morning FX Technical Analysis

11 October 2017

By Kyle Shortland

Click below for today's MNI US Morning FX Technical Analysis Report -

http://tinyurl.com/jz5y37x

EURO-DOLLAR TECHS: Flirting With 21 & 55-DMAs

*RES 4: $1.2019 High Sept 20 

*RES 3: $1.1891 Hourly support Sept 21 now resistance 

*RES 2: $1.1888 Daily Bear channel top 

*RES 1: $1.1862 Low Sept 20 now resistance

*PRICE: $1.1842 @ 0930GMT

*SUP 1: $1.1795 Hourly support Oct 10 

*SUP 2: $1.1756 Hourly resistance Oct 9 now support 

*SUP 3: $1.1739 Hourly support Oct 10 

*SUP 4: $1.1716 Hourly resistance Oct 6 now support

*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. This week has seen the pair recover lost ground flirt with 21

($1.1834) & 55 ($1.1841) DMAs. Bulls need a close above $1.1862 to shift focus

to $1.2019-92 and above $1.1891 to confirm.

CABLE TECHS: $1.3124-72 Support Key Today

*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: $1.3226 High Oct 10

*PRICE: $1.3190 @ 0930GMT

*SUP 1: $1.3172 Hourly support Oct 10 

*SUP 2: $1.3135 55-DMA 

*SUP 3: $1.3124 Hourly resistance Oct 9 now support 

*SUP 4: $1.3074 Hourly support Oct 9

*COMMENTARY: The recovery from the dip back to the 100-DMA ($1.3021) has

received support from correcting O/S daily studies with bulls looking for a

close above $1.3226 to shift focus back to the 21-DMA ($1.3351). Current

hesitation around $1.3226 is less than ideal for bulls, although bears now need

a close below $1.3172 to gain breathing room and below $1.3124 to confirm a

break below the 55-DMA and returning focus to $1.2995-1.3018.

DOLLAR-YEN TECHS: Pressure Returns To 21 & 200-DMAs

*RES 4: Y113.63 Bollinger band top 

*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: Y112.25 @ 0930GMT

*SUP 1: Y112.11 21-DMA 

*SUP 2: Y111.84 200-DMA 

*SUP 3: Y111.48 Low Sept 25 

*SUP 4: Y111.10 100-DMA

*COMMENTARY: Bulls have failed to capitalise on the bounce from 21 & 200-DMAs

Tuesday with pressure having returned to these supports. Bears now focus on the

200-DMA with a close below needed to pressure Y111.48 and below this level to

shift focus to 55 (Y110.67) & 100 (111.12) DMAs. Below the 55-DMA hints at a

move back to 2017 lows with below Y109.52 to confirm. Bulls now look for a close

above Y112.89 to ease pressure on key supports and target Y113.44-70.

DOLLAR-CAD TECHS: Close Below Channel Base To Target C$1.2232

*RES 4: C$1.2749 - 100-DMA 

*RES 3: C$1.2662 - High Aug 31 

*RES 2: C$1.2651 - Daily Bull channel top 

*RES 1: C$1.2594 - High Oct 9

*PRICE: C$1.2515 @ 0930GMT

*SUP 1: C$1.2470 - 55-DMA 

*SUP 2: C$1.2418 - Lows Sept 28 & 29 

*SUP 3: C$1.2401 - 21-DMA 

*SUP 4: C$1.2392 - Daily Bull channel base

*COMMENTARY: The pair is looking a little heavy with pressure having returned to

the 55-DMA following the failure ahead of C$1.2600 where the bull channel top

capped. Layers of support C$1.2392-1.2470 remain key. Bears need a close below

the 55-DMA to add weight to their case and below the bull channel base to target

C$1.2232. Bulls now look for a close above C$1.2594 to reconfirm control and

above C$1.2662 to focus on C$1.2749-77.

EURO-YEN TECHS: Y131.74 & Y133.49 Levels Key

*RES 4: Y134.41 2017 High Sept 22

*RES 3: Y134.25 High Sept 25

*RES 2: Y133.49 Hourly resistance Sept 25

*RES 1: Y133.11 High Sept 29

*PRICE: Y132.67 @ 0430GMT

*SUP 1: Y132.23 Low Oct 10 

*SUP 2: Y131.97 Hourly support Oct 9 

*SUP 3: Y131.74 Low Sept 26 

*SUP 4: Y131.00 55-DMA

*COMMENTARY: Despite pressuring the key Y131.74 support bears failed to manage

the close below needed to shift immediate focus to Y130.38-00 where the 55-DMA &

200-WMA are noted. Bears now need a close below Y132.23 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: Gbp0.8861-0.8906 Support Key

*RES 4: Gbp0.9045 High Sept 14

*RES 3: Gbp0.9011 55-DMA

*RES 2: Gbp0.8992 High Oct 6

*RES 1: Gbp0.8969 Hourly support Oct 9 now resistance

*PRICE: Gbp0.8957 @ 0930GMT

*SUP 1: Gbp0.8948 Hourly resistance Oct 11 now support 

*SUP 2: Gbp0.8925 Low Oct 10 

*SUP 3: Gbp0.8906 Low Oct 9 

*SUP 4: Gbp0.8886 High Sept 22 now support

*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. Bears now look for a close below Gbp0.8906 to ease

immediate bullish pressure and below the 21-DMA (Gbp0.8861) to end bullish hopes

and shift focus back to Gbp0.8717-57 where the 200-DMA & 55-WMA are found.

SPOT GOLD TECHS: Capped Ahead Of Key Resistance

*RES 4: $1313.6 - High Sept 26 

*RES 3: $1296.4 - High Sept 27 

*RES 2: $1294.1 - 55-DMA 

*RES 1: $1292.9 - 21-DMA

*PRICE: $1289.2 @ 0430GMT

*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 recovery from Friday's low has seen the pair capped ahead of

the key $1296.4 resistance and 21 & 55-DMAs. Bulls again look for a close above

$1296.4 to shift initial focus back to $1313.6-1320.0. Initial support is noted

at $1285.1 with bears needing a close below to gain breathing room and below

$1277.6 needed to retain focus on $1242.0-1255.0 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]