MNI US Morning FX Technical Analysis

19 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-DMA

*RES 4: $1.2033 High Sept 20 

*RES 3: $1.1880 High Oct 12 

*RES 2: $1.1849 Hourly resistance Oct 13a 

*RES 1: $1.1826 Hourly resistance Oct 13

*PRICE: $1.1805 @ 0930GMT

*SUP 1: $1.1769 Hourly support Oct 19 

*SUP 2: $1.1731 Low Oct 18 

*SUP 3: $1.1716 Hourly resistance Oct 6 now support 

*SUP 4: $1.1669 Low Oct 6

*COMMENTARY: Downside follow through has been lacking the past two days as

support emerges on dips back to the 200-WMA ($1.1692). Wednesday's recovery sees

the pair flirting with the 21-DMA ($1.1797). Layers of resistance remain

$1.1826-80 with the 55-DMA at $1.1839. Bulls look for a close above the 21-DMA

to gain breathing room and above $1.1880 to shift focus to $1.2033. Bears now

need a close below $1.1731 to reconfirm focus on $1.1583-1.1669.

CABLE TECHS: $1.3121 Support Remains Key

*RES 4: $1.3343 Low Sept 28 now resistance 

*RES 3: $1.3311 High Oct 16 

*RES 2: $1.3291 Hourly resistance Oct 17, 21-DMA 

*RES 1: $1.3228 Hourly resistance Oct 19

*PRICE: $1.3162 @ 0930GMT

*SUP 1: $1.3143 55-DMA 

*SUP 2: $1.3121 Low Oct 12 

*SUP 3: $1.3041 100-DMA 

*SUP 4: $1.3028 Low Oct 6

*COMMENTARY: The sell-off from recent 21-DMA topside failures has found support

on dips below the 55-DMA with bulls now needing a close above $1.3228 to shift

focus back to $1.3291-1.3343 where the 21-DMA is located. Bulls need a close

above $1.3343 to confirm a break of the 21-DMA and initially target $1.3461.

Bears still need a close below $1.3121 to shift focus to $1.2995-1.3041 where

the 100-DMA is located.

DOLLAR-YEN TECHS: 21-DMA Support Key Today

*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: Y113.15 Bollinger band top

*PRICE: Y112.70 @ 0930GMT

*SUP 1: Y112.46 21-DMA 

*SUP 2: Y112.04 Hourly support Oct 17 

*SUP 3: Y111.65 Low Oct 16 

*SUP 4: Y111.48 Low Sept 25

*COMMENTARY: The pair found support on dips below the 200-DMA (Y111.74) with

bulls taking comfort gaining traction above the 21-DMA (Y112.46). The Bollinger

band top is currently capping but daily studies remain well placed for gains.

The 21-DMA is key support today with bears needing a close below to ease bullish

pressure. Overall below Y111.48 is needed to shift focus to 55 & 100-DMAs. Bulls

now look for a close above Y113.70 to pressure 2017 highs.

DOLLAR-CAD TECHS: Below C$1.2418 Targets C$1.2232

*RES 4: C$1.2662 - High Aug 31 

*RES 3: C$1.2594 - High Oct 9 

*RES 2: C$1.2555 - Hourly support Oct 17 now resistance 

*RES 1: C$1.2533 - High Oct 18

*PRICE: C$1.2476 @ 0930GMT

*SUP 1: C$1.2454 - Hourly support Oct 19 

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

*SUP 3: C$1.2339 - Bollinger band base 

*SUP 4: C$1.2232 - Low Sept 20

*COMMENTARY: Wednesday's bounce from the bull channel base, 21 & 55-DMAs lacked

follow through with the pair currently flirting with the 55-DMA (C$1.2464) as

bears focus on C$1.2418. Bears need a close below C$1.2418 to end bullish hopes

and shift focus to C$1.2232. Initial resistance is noted at C$1.2533 with bulls

looking for a close above to shift focus back to C$1.2594 Oct highs so far.

EURO-YEN TECHS: Y132.44 Support Key Today

*RES 4: Y134.41 2017 High Sept 22

*RES 3: Y134.25 High Sept 25

*RES 2: Y133.85 Bollinger band top

*RES 1: Y133.49 Hourly resistance Sept 25 & High Oct 12

*PRICE: Y132.94 @ 0930GMT

*SUP 1: Y132.68 21-DMA 

*SUP 2: Y132.44 Alternating hourly support/resistance 

*SUP 3: Y131.95 Hourly support Oct 18 

*SUP 4: Y131.65 Low Oct 16

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

break of Y131.74 but follow through has so far been lacking. Bulls continue to

look for a close above Y133.49 to shift immediate focus to Y134.25-134.59 where

2017 and monthly highs are situated. Layers of support are building with bears

needing a close below Y132.44 to shift focus back to Y131.25-131.65 where the

55-DMA is noted.

EURO-STERLING TECHS: Gbp0.8987-0.9048 Resistance Key

*RES 4: Gbp0.9048 Low Aug15 now resistance

*RES 3: Gbp0.9033 High Oct 12

*RES 2: Gbp0.9008 55-DMA

*RES 1: Gbp0.8987 Hourly support Oct 12 now resistance

*PRICE: Gbp0.8977 @ 0930GMT

*SUP 1: Gbp0.8958 Hourly breakout level Oct 19 

*SUP 2: Gbp0.8924 Hourly support Oct 18 

*SUP 3: Gbp0.8908 Hourly support Oct 17 

*SUP 4: Gbp0.8856 Low Oct 16

*COMMENTARY: Despite pressuring the 21-DMA (Gbp0.8875) bears failed to manage

the close below needed to confirm focus on Gbp0.8728-57 where the 200-DMA and

55-WMA are located. The recovery from the week's lows sees pressure back on the

Gbp0.8987-0.9048 region where the bear channel top and 55-DMA are located. Bulls

need a close above Gbp0.9048 to end bearish hopes and shift focus to

Gbp0.9127-0.9202.

SPOT GOLD TECHS: 100-DMA Support Key Today

*RES 4: $1298.3 - Alternating hourly support/resistance 

*RES 3: $1296.3 - 55-DMA 

*RES 2: $1290.8 - Hourly resistance Oct 17 

*RES 1: $1284.4 - Hourly support Oct 18 now resistance

*PRICE: $1283.7 @ 0930GMT

*SUP 1: $1275.2 - 100-DMA 

*SUP 2: $1270.7 - Hourly support Oct 6 

*SUP 3: $1266.3 - Hourly resistance Oct 6 now support 

*SUP 4: $1260.6 - Low Oct 6

*COMMENTARY: Failure to gain traction above 21 & 55 ($1285.5 & 1296.3) DMAs

resulted in further losses and immediate pressure on the 100-DMA. Bears need a

close below the 100-DMA to add weight to the case for a test of $1243.4-1260.1

where the daily bull channel base ($1245.3) and 200-DMA ($1257.5) are noted.

Bulls now need a close above $1290.8 to ease immediate bearish pressure and

above $1306.0 to pressure $1313.6-1320.0.

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

[TOPICS: MTABLE]