MNI US Morning FX Technical Analysis

16 October 2017

By Kyle Shortland

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

http://tinyurl.com/jz5y37x

EURO-DOLLAR TECHS: Bears Need Close Below $1.1795

*RES 4: $1.1886 Daily Bear channel top 

*RES 3: $1.1880 High Oct 12 

*RES 2: $1.1849 Hourly resistance Oct 13 

*RES 1: $1.1826 Hourly resistance Oct 13

*PRICE: $1.1786 @ 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: $1.1669 Low Oct 6

*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.

Pressure on $1.1795 has resulted in a break with bears needing a close below to

add weight to the case for a move back to the $1.1583-1.1669 region. Layers of

resistance remain with bulls needing a close above $$1.1826 to gain breathing

room and above $1.1880 to shift focus higher.

CABLE TECHS: Bulls Focused On $1.3335-43

*RES 4: $1.3463 High Sept 27 

*RES 3: $1.3430 Hourly resistance Sept 29 

*RES 2: $1.3343 Low Sept 28 now resistance 

*RES 1: $1.3335 21-DMA

*PRICE: $1.3297 @ 0930GMT

*SUP 1: $1.3240 Hourly support Oct 12 

*SUP 2: $1.3179 Hourly resistance Oct 12 now support 

*SUP 3: $1.3121 Low Oct 12 

*SUP 4: $1.3074 Hourly support Oct 9

*COMMENTARY: Bulls remain focused on $1.3335-41 after the dip below the 55-DMA

($1.3143) was aggressively reversed last week for a relatively bullish close.

Bulls need a close above $1.3343 to end bearish hopes, shifting immediate focus

to $1.3461-1.3514 and overall focus to $1.3656-1.3708 where 2017 highs and the

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

pressure and below $1.3121 to focus on $1.2995-1.3034.

DOLLAR-YEN TECHS: Bears Need Close Below Y111.48

*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: Y112.32 21-DMA

*PRICE: Y111.79 @ 0430GMT

*SUP 1: Y111.48 Low Sept 25 

*SUP 2: Y111.14 100-DMA 

*SUP 3: Y110.74 55-DMA 

*SUP 4: Y109.55 Low Sept 15

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

resulting in dips below the 200-DMA (Y111.79). Bears now need a close below

Y111.48 to confirm a break of the 200-DMA and focus on 55 (Y110.74) & 100

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

Y109.55 to confirm. Bulls now need a close above the 21-DMA to ease bearish

pressure and above Y112.89 to shift immediate focus back to Y113.44-70.

DOLLAR-CAD TECHS: C$1.2418 & C$1.2520 Levels Now Key

*RES 4: C$1.2695 - Daily Bull channel top 

*RES 3: C$1.2662 - High Aug 31 

*RES 2: C$1.2594 - High Oct 9 

*RES 1: C$1.2520 - High Oct 13

*PRICE: C$1.2490 @ 0930GMT

*SUP 1: C$1.2442 - 21-DMA 

*SUP 2: C$1.2436 - Daily Bull channel base 

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

*SUP 4: C$1.2232 - Low Sept 20

*COMMENTARY: Despite pressure having returned to the C$1.2418-42 support region,

bears have so far failed to manage the close below C$1.2418 needed to shift

focus to C$1.2232. Initial resistance is noted at C$1.2520 with bulls now

needing a close above this level to ease pressure on key supports and shift

focus to layers of resistance C$1.2594-1.2695 where the daily bull channel top

and 100-DMA (C$1.2719) are situated.

EURO-YEN TECHS: Bulls Need Close Above Y132.44

*RES 4: Y132.95 Hourly resistance Oct 13

*RES 3: Y132.72 Hourly support Oct 13

*RES 2: Y132.44 Hourly support Oct 13 now resistance

*RES 1: Y132.12 Hourly support Oct 16 now resistance

*PRICE: Y131.79 @ 0930GMT

*SUP 1: Y131.47 Bollinger band base 

*SUP 2: Y131.15 55-DMA 

*SUP 3: Y130.84 Daily Bear channel base 

*SUP 4: Y130.59 Low Sept 15

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

sell-off seeing bears look for a close below Y131.74 to confirm immediate focus

on Y130.59-131.15 where the bear channel base and 55-DMA are noted. A close

below Y130.59 remains needed to shift focus to the 100-DMA (Y129.26). Layers of

resistance are accumulating with bulls needing a close above Y132.44 to gain

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

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

*RES 4: Gbp0.8987 Hourly support Oct 12 now resistance

*RES 3: Gbp0.8948 Alternating hourly support/resistance

*RES 2: Gbp0.8931 Hourly resistance Oct 13a

*RES 1: Gbp0.8899 Hourly resistance Oct 13

*PRICE: Gbp0.8848 @ 0930GMT

*SUP 1: Gbp0.8801 Low Oct 2 

*SUP 2: Gbp0.8746 Monthly Low Sept 27 

*SUP 3: Gbp0.8745 200-DMA 

*SUP 4: Gbp0.8728 55-WMA

*COMMENTARY: The rejection above the 55-DMA last week left the pair looking and

flirting with the 21-DMA (Gbp0.8860). Bears need a close below the 21-DMA to end

bullish hopes and target Gbp0.8728-46. Resistance layers continue to accumulate

and weigh. Bulls now need a close above Gbp0.8899 to gain breathing room and

above Gbp0.8948 to shift focus back to Gbp0.9008-45 where the 55-DMA is noted.

Correcting O/B studies add weight to the bearish case.

SPOT GOLD TECHS: $1277.6-1289.6 Support Region Key

*RES 4: $1334.8 - High Sept 13 

*RES 3: $1320.0 - High Sept 18 

*RES 2: $1315.7 - Bollinger band top 

*RES 1: $1313.6 - High Sept 26

*PRICE: $1304.5 @ 0930GMT

*SUP 1: $1298.3 - Hourly resistance Oct 13 now support 

*SUP 2: $1289.6 - Low Oct 12 

*SUP 3: $1284.5 - Low Oct 11 

*SUP 4: $1277.6 - Hourly resistance Oct 6 now support

*COMMENTARY: The break of $1296.4 gained momentum Friday with bulls 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 $1289.6 to ease bullish pressure and below $1277.6 to shift focus back to

$1243.7-1260.5 where the 200-DMA ($1256.8) and bull channel base are situated.

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

[TOPICS: MTABLE]