MNI US Morning FX Technical Analysis

13 October 2017

By Kyle Shortland

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

http://tinyurl.com/jz5y37x

EURO-DOLLAR TECHS: $1.1795 Support Remains Key

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1880 High Oct 12 

*RES 2: $1.1870 Daily Bear channel top 

*RES 1: $1.1853 Hourly resistance Oct 12

*PRICE: $1.1833 @ 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: The break of the $1.1862 resistance has so far lacked follow

through with the pair capped around the daily bear channel top Thursday. The

$1.1795 support remains key today. Bears continue to look for a close below

$1.1795 to shift focus back to the $1.1583-1.1661 region. While $1.1795 supports

bulls look for a close above $1.1880 to shift focus to $1.2033-92 where 2017

highs are noted.

CABLE TECHS: Bulls Focused On 21-DMA

*RES 4: $1.3463 High Sept 27 

*RES 3: $1.3430 Hourly resistance Sept 29 

*RES 2: $1.3354 21-DMA 

*RES 1: $1.3343 Low Sept 28 now resistance

*PRICE: $1.3301 @ 0930GMT

*SUP 1: $1.3290 High Oct 12 now support 

*SUP 2: $1.3240 Hourly support Oct 12 

*SUP 3: $1.3179 Hourly resistance Oct 12 now support 

*SUP 4: $1.3121 Low Oct 12

*COMMENTARY: Bulls remain focused on the 21-DMA after the dip below the 55-DMA

($1.3145) was aggressively reversed for a relatively bullish close. Bulls need a

close above the 21-DMA to end bearish hopes, shifting immediate focus to

$1.3461-1.3514 and overall focus to $1.3656-1.3702 where 2017 highs and the bull

channel top are situated. Bears now need a close below $1.3240 to ease bullish

pressure and below $1.3121 to focus on $1.2995-1.3030.

DOLLAR-YEN TECHS: 200-DMA Support Key

*RES 4: Y113.18 Hourly support Oct 6 now resistance 

*RES 3: Y112.89 Hourly resistance Oct 6 

*RES 2: Y112.58 High Oct 11 

*RES 1: Y112.31 Hourly resistance Oct 12

*PRICE: Y112.12 @ 0930GMT

*SUP 1: Y111.81 200-DMA 

*SUP 2: Y111.48 Low Sept 25 

*SUP 3: Y111.13 100-DMA 

*SUP 4: Y110.72 55-DMA

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

with focus having returned to the 200-DMA. Bears need a close below the 200-DMA

to pressure Y111.48 and below this level to shift focus to 55 (Y110.72) & 100

(111.13) DMAs. Below the 55-DMA hints at a move back to 2017 lows with below

Y109.52 to confirm. Bulls continue to look for a close above Y112.89 to shift

immediate focus back to Y113.44-70.

DOLLAR-CAD TECHS: TECHS: Close Below $1.2418 To Target C$1.2232

*RES 4: C$1.2680 - Daily Bull channel top 

*RES 3: C$1.2662 - High Aug 31 

*RES 2: C$1.2594 - High Oct 9 

*RES 1: C$1.2490 - High Oct 12

*PRICE: C$1.2470 @ 0930GMT

*SUP 1: C$1.2427 - 21-DMA 

*SUP 2: C$1.2421 - Daily Bull channel base 

*SUP 3: C$1.2418 - Lows Sept 28 & 29 

*SUP 4: C$1.2232 - Low Sept 20

*COMMENTARY: The pair remains heavy with pressure having returned to layers of

support C$1.2418-27 where the daily bull channel base and 21-DMA are situated.

Bears now look for a close below C$1.2418 to end bullish hopes and shift

immediate focus to tests of the C$1.2232 Sept 20 low. Momentum has corrected

back to more neutral levels increasing the significance of the supports. Bulls

now need a close above C$1.2490 to ease bearish pressure.

EURO-YEN TECHS: Y133.49 Resistance Confirms Significance

*RES 4: Y133.49 Hourly resistance Sept 25 & High Oct 12

*RES 3: Y133.27 Hourly resistance Oct 12

*RES 2: Y132.95 Hourly resistance Oct 13

*RES 1: Y132.72 Hourly support Oct 13

*PRICE: Y132.63 @ 0930GMT

*SUP 1: Y132.20 Hourly support Oct 13 

*SUP 2: Y131.97 Hourly support Oct 9

*SUP 3: Y131.74 Low Sept 26 

*SUP 4: Y131.13 55-DMA

*COMMENTARY: Y133.49 confirmed significance having capped Thursday with the

sell-off now seeing bears focused on Y131.74. Bears look for a close below this

level to pressure the 55-DMA (Y131.13). Bulls now need a close above Y132.95 to

gain breathing room and above Y133.49 to shift focus to Y134.25-59 where 2017

and monthly highs are situated. Narrowing Bollinger bands suggest a breakout in

the near future.

EURO-STERLING TECHS: Bears Need Close Below 21-DMA

*RES 4: Gbp0.9010 55-DMA

*RES 3: Gbp0.8987 Hourly support Oct 12 now resistance

*RES 2: Gbp0.8948 Alternating hourly support/resistance

*RES 1: Gbp0.8931 Hourly resistance Oct 13

*PRICE: Gbp0.8890 @ 0930GMT

*SUP 1: Gbp0.8857 21-DMA 

*SUP 2: Gbp0.8801 Low Oct 2 

*SUP 3: Gbp0.8744 200-DMA 

*SUP 4: Gbp0.8717 Low June 16

*COMMENTARY: The excursion into the Gbp0.8992-0.9045 resistance region lacked

follow through with the pair rejected ahead of Gbp0.9048. The sell-off leaves

the pair looking heavy and focus on the 21-DMA. Bears look for a close below the

21-DMA to end bullish hopes and target Gbp0.8717-57. Bulls now need a close

above Gbp0.8948 to gain breathing room and above Gbp0.8987 to return focus to

Gbp0.9012-44. Correcting O/B studies add weight to the bearish case.

SPOT GOLD TECHS: $1277.6-1284.5 Support Region Key

*RES 4: $1334.8 - High Sept 13 

*RES 3: $1320.0 - High Sept 18 

*RES 2: $1313.6 - High Sept 26 

*RES 1: $1297.3 - High Oct 12

*PRICE: $1296.1 @ 0930GMT

*SUP 1: $1289.6 - Low Oct 12 

*SUP 2: $1284.5 - Low Oct 11 

*SUP 3: $1277.6 - Hourly resistance Oct 6 now support 

*SUP 4: $1270.7 - Hourly support Oct 6

*COMMENTARY: The break of $1296.4 has so far lacked follow through which is less

than ideal for bulls who are now targeting $1313.6-1320.0. A close above $1320.0

is needed to shift focus to $1357.5 Sept highs. Support layers are building with

bears now needing a close below $1284.5 to confirm an easing of bullish pressure

and below $1277.6 to shift focus back to $1243.1-1260.5 where the 200-DMA and

bull channel base are situated.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]