MNI US Morning FX Technical Analysis

17 October 2017

By Kyle Shortland

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

http://tinyurl.com/jz5y37x

EURO-DOLLAR TECHS: Looking A Little Heavy

*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: $1.1772 @ 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 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 again focused on a move back to the

$1.1583-1.1669 region where the channel base and 100-DMA are noted. 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: Bears Need Close Below $1.3226

*RES 4: $1.3430 Hourly resistance Sept 29 

*RES 3: $1.3343 Low Sept 28 now resistance 

*RES 2: $1.3322 21-DMA 

*RES 1: $1.3311 High Oct 16

*PRICE: $1.3260 @ 0930GMT

*SUP 1: $1.3226 High Oct 10 now support 

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

*SUP 3: $1.3144 55-DMA 

*SUP 4: $1.3121 Low Oct 12

*COMMENTARY: The pair has remained capped ahead of the 21-DMA on attempts to

break higher since Friday which is less than ideal for bulls who still need a

close above $1.3343 to confirm a break of the 21-DMA and initially target

$1.3461. Bears now look for a close below $1.3226 initial support to shift

immediate focus back to $1.3071-1.3144 where the 55-DMA is noted.

DOLLAR-YEN TECHS: Supported Below 200-DMA

*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: Y112.37 21-DMA

*PRICE: Y112.16 @ 0930GMT

*SUP 1: Y111.65 Low Oct 17 

*SUP 2: Y111.48 Low Sept 25 

*SUP 3: Y111.15 100-DMA 

*SUP 4: Y110.78 55-DMA

*COMMENTARY: Dips below the 200-DMA (Y111.78) are finding support with the

recovery from the day's lows seeing a bounce back to the 21-DMA. Bulls look for

a close above the 21-DMA to ease bearish pressure and above Y112.89 to shift

immediate focus back to Y113.44-70. The Y111.48 support remains key. Bears look

for a close below to confirm a break of the 200-DMA and focus on 55 (Y110.76) &

100 (111.14) DMAs. Below the 55-DMA hints at a move back to 2017 lows.

DOLLAR-CAD TECHS: Above C$1.2594 Targets $1.2662-1.2710

*RES 4: C$1.2710 - Daily Bull channel top 

*RES 3: C$1.2662 - High Aug 31 

*RES 2: C$1.2594 - High Oct 9 

*RES 1: C$1.2551 - Hourly resistance Oct 17

*PRICE: C$1.2539 @ 0930GMT

*SUP 1: C$1.2514 - Hourly support Oct 16 

*SUP 2: C$1.2456 - 21-DMA 

*SUP 3: C$1.2451 - Daily Bull channel base 

*SUP 4: C$1.2418 - Lows Sept 28 & 29

*COMMENTARY: Pressure on the bull channel base and 21-DMA failed to produce a

break lower with the close above C$1.2520 easing bearish pressure and shifting

focus to C$1.2594, above which targets C$1.2662-1.2710. Initial support is noted

at C$1.2514 with bears needing a close below shift focus back to the key

C$1.2418-56 support region and below C$1.2418 targeting C$1.2232.

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

*RES 4: Y133.27 Hourly resistance Oct 12

*RES 3: Y132.95 Hourly resistance Oct 13

*RES 2: Y132.72 Hourly support Oct 13

*RES 1: Y132.44 Hourly support Oct 13 now resistance

*PRICE: Y131.99 @ 0930GMT

*SUP 1: Y131.65 Low Oct 16 

*SUP 2: Y131.46 Bollinger band base 

*SUP 3: Y131.19 55-DMA 

*SUP 4: Y130.59 Low Sept 15

*COMMENTARY: The sell-off from last week's Y133.49 topside failure has resulted

in a break of Y131.74 but follow through has so far been lacking. Focus has

shifted to the Y130.59-131.17 region where the 55-DMA is noted with a close

below Y130.59 to shift pressure to the 100-DMA (Y129.33). Layers of resistance

remain with bulls needing a close above Y132.44 to gain breathing room and above

Y133.49 to shift focus to Y134.25-59 where 2017 and monthly highs are situated.

EURO-STERLING TECHS: Gbp0.8856 Support Now Key

*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: Gbp0.8905 Hourly resistance Oct 16

*PRICE: Gbp0.8870 @ 0430GMT

*SUP 1: Gbp0.8856 Low Oct 16 

*SUP 2: Gbp0.8801 Low Oct 2 

*SUP 3: Gbp0.8746 Monthly Low Sept 27 

*SUP 4: Gbp0.8745 200-DMA

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

flirting with the 21-DMA (Gbp0.8863). Bears need a close below Gbp0.8856 to end

bullish hopes and target Gbp0.8727-43. Resistance layers remain and weigh. The

Gbp0.8905-48 resistance region is now key. Bulls look for a close above

Gbp0.8948 to return focus to Gbp0.8987-0.9048 where the 55-DMA is located.

Correcting O/B daily studies are also seen weighing at present.

SPOT GOLD TECHS: $1277.6-1288.5 Support Region Key

*RES 4: $1313.6 - High Sept 26 

*RES 3: $1311.7 - Bollinger band top 

*RES 2: $1306.0 - High Oct 16 

*RES 1: $1298.3 - Alternating hourly support/resistance

*PRICE: $1290.0 @ 0930GMT

*SUP 1: $1288.5 - 21-DMA 

*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: Bulls are struggling to gain traction above 21 & 55 ($1296.0) DMAs.

Bears now need a close below the 21-DMA to ease bullish pressure and below

$1277.6 to shift focus back to $1244.2-1260.5 where the 200-DMA ($1257.3) and

bull channel base are situated. Bulls now need a close above $1306.0 to

reconfirm focus on $1313.6-1320.0. A close above $1320.0 is needed to shift

focus to $1357.5 Sept highs.

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

[TOPICS: MTABLE]