MNI US Morning FX Technical Analysis

20 October 2017

By Kyle Shortland

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

http://tinyurl.com/jz5y37x

EURO-DOLLAR TECHS: Capped Ahead Of Key Resistance

*RES 4: $1.1923 Bollinger band top 

*RES 3: $1.1880 High Oct 12 

*RES 2: $1.1858 High Oct 19 

*RES 1: $1.1826 Hourly resistance Oct 20

*PRICE: $1.1802 @ 0430GMT

*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). The recovery from the

week's lows so far has stalled ahead of the daily bear channel top ($1.1853) and

key $1.1880 resistance. Bulls need a close 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: Focus Shifts To $1.2995-1.3041

*RES 4: $1.3270 21-DMA 

*RES 3: $1.3228 High Oct 19 

*RES 2: $1.3209 Hourly resistance Oct 19 

*RES 1: $1.3145 Hourly support Oct 20 now resistance

*PRICE: $1.3130 @ 0930GMT

*SUP 1: $1.3041 100-DMA 

*SUP 2: $1.3028 Low Oct 6 

*SUP 3: $1.3018 Bollinger band base 

*SUP 4: $1.2995 High Sept 1 now support

*COMMENTARY: The sell-off from recent 21-DMA topside failures has now broken

below the 55-DMA ($1.3144) and key $1.3121 support. Bears look for a close below

$1.3121 to add weight to the case for a move that now sees immediate focus on

$1.2995-1.3041 where the 100-DMA and Bollinger base are located. Bulls now need

a close above $1.3145 to gain breathing room and above the 21-DMA to return

pressure to $1.3343.

DOLLAR-YEN TECHS: Close Above Y113.70 Targets Monthly Highs

*RES 4: Y115.62 High Jan 19 

*RES 3: Y115.50 Monthly High Mar 10 

*RES 2: Y114.49 Monthly High July 11 

*RES 1: Y113.70 Low July 11 now resistance

*PRICE: Y113.40 @ 0930GMT

*SUP 1: Y113.12 Hourly support Oct 20 

*SUP 2: Y112.74 Hourly resistance Oct 19 now support 

*SUP 3: Y112.30 Low Oct 19 

*SUP 4: Y112.04 Hourly support Oct 17

*COMMENTARY: Bulls take comfort in support emerging below the 21-DMA (Y112.47)

with support previously emerging on dips below the 200-DMA (Y111.73). Bears now

need a close below Y112.74 to ease bullish pressure and below Y111.48 to shift

focus to 55 & 100-DMAs. The Bollinger band (Y113.28) is a concern for bulls but

daily studies remain well placed for gains. The Y113.70 resistance remains key

with bulls looking for a close above to pressure monthly highs.

DOLLAR-CAD TECHS: TECHS: C$1.2594 Resistance Remains Key

*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$1.2513 @ 0930GMT

*SUP 1: C$1.2454 - Low 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: Dips below the 55-DMA (C$1.2462) continue to lack follow through

and attract support ahead of the key C$1.2418 level. Bears still 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. Above C$1.2594 reconfirms a bullish and

initially targets C$1.2662-79 where the 100-DMA is found.

EURO-YEN TECHS: Y132.91-133.44 Support Key Today

*RES 4: Y135.84 Low Oct 21 2015 now resistance

*RES 3: Y134.59 Monthly High Dec 4 2015

*RES 2: Y134.41 2017 High Sept 22

*RES 1: Y134.25 High Sept 25

*PRICE: Y133.82 @ 0930GMT

*SUP 1: Y133.44 Hourly resistance Oct 20 now support 

*SUP 2: Y132.91 Hourly support Oct 19 

*SUP 3: Y132.44 Alternating hourly support/resistance 

*SUP 4: Y131.95 Hourly support Oct 18

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

break of Y131.74 but follow through was lacking. The rally Wednesday managed a

close above the 21-DMA with gains continuing and focus now having shifted to

Y134.25-59 where 2017 and monthly highs are situated. Layers of support are

building with bears needing a close below Y133.44 to gain breathing room and

below Y132.91 to hint at a deeper sell-off targeting Y131.65.

EURO-STERLING TECHS: Bulls Need Close Above Gbp0.9048

*RES 4: Gbp0.9107 Low Sept 8 now resistance 

*RES 3: Gbp0.9048 Low Aug 15 now resistance 

*RES 2: Gbp0.9038 Bollinger band top 

*RES 1: Gbp0.9033 High Oct 12

*PRICE: Gbp0.8984 @ 0930GMT

*SUP 1: Gbp0.8967 Hourly support Oct 19a 

*SUP 2: Gbp0.8958 Hourly breakout level Oct 19 

*SUP 3: Gbp0.8932 100-DMA 

*SUP 4: Gbp0.8886 21-DMA

*COMMENTARY: Despite pressuring the 21-DMA 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 Gbp0.8854 saw the pair pop above the daily bear channel

top and 55-DMA (Gbp0.9009). Bulls still need a close above Gbp0.9048 to end

bearish hopes and shift focus to Gbp0.9107-0.9202. Bears now need a close below

Gbp0.8958 to ease bullish pressure and below Gbp0.8854 to focus on Gbp0.8728-57.

SPOT GOLD TECHS: Bears Need Close Below 100-DMA

*RES 4: $1306.0 - High Oct 16 

*RES 3: $1298.3 - Alternating hourly support/resistance 

*RES 2: $1297.0 - 55-DMA 

*RES 1: $1291.1 - Hourly resistance Oct 19

*PRICE: $1280.8 @ 0930GMT

*SUP 1: $1275.4 - 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: Pressure on the 100-DMA has so far failed to produce the close

below needed to see bears confirm focus on tests of $1243.4-1260.1 where the

daily bull channel base ($1245.9) and 200-DMA ($1257.9) are noted. Bulls now

look for a close above $1291.1to ease immediate bearish pressure and above

$1306.0 to pressure $1313.6-1320.0, Daily studies remain well placed for further

losses.

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

[TOPICS: MTABLE]