GBPUSD is approaching its resistance at 1.3068 (100% Fibonacci extension, 50%, 38.2% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 1.2982 (61.8% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
AUDJPY is approaching its support at 80.62 (100% & 61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 81.73 (61.8% Fibonacci retracement, horizontal swing high resistance).
Stochastic (34, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
EURAUD reversed off its resistance at 1.6168(100% Fibonacci extension, 76.4% & 50% Fibonacci retracement, horizontal overlap resistance) where it could drop further to its support at 1.6092(50% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) reversed off its resistance at 95% where a corresponding drop could occur.
NZDJPY is approaching its support at 74.13 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 74.98 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is approaching its support at 2.4% where a corresponding bounce could occur.
USDCAD is approaching its resistance at 1.2891(61.8% Fibonacci extension, 38.2% & 23.6% Fibonacci retracement, horizontal overlap resistance) where it is expected to reverse down to its support at 1.2791 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reversal is expected.
NZDUSD is approaching its support at 0.6545(100% & 61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6603 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (89, 5, 3) is approaching its support at 3.7% where a corresponding bounce could occur.
GBPJPY is approaching its support at 147.06 (100% Fibonacci extension x2, 38.2% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 148.28 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching its support at 4.8% where a corresponding bounce could occur.
CHFJPY is approaching its support at 115.29 (100% Fibonacci extension, 38.2% & 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 116.28 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 7.8% where a corresponding bounce could occur.
DXY approaching its resistance at 95.62 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 94.74 (50% Fiboancci retracement).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reversal could occur.
EURUSD is approaching its support at 1.1518(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 1.1661 (50% Fibonacci retracement, horizontal overlap resistance).
Stochastic (55, 5, 3) is approaching its support at 2.8% where a corresponding bounce could occur.
CADCHF is approaching its resistance at 0.7715 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.7629(23.6% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
USD/JPY bulls kicked off October on a high note, reaching fresh 2018 highs of 114.06. Following dips in Japan’s Q3 Tankan survey and September’s manufacturing PMI, the pair eventually shook hands with its 114 handle on the H4 timeframe.
As is evident from the H4, price remains in a consolidative state just south of 114 at the moment, with the H4 RSI exploring...
The pound received fresh impetus on Brexit-related momentum during yesterday’s session, amid news the UK may be considering an Irish border compromise on customs to facilitate a deal with the EU. H4 movement, as you can see, hit highs of 1.3115, momentarily exploring levels beyond supply at 1.3090-1.3072 and the 1.31 handle.
Despite the above, Cable ended the day...
XAUUSD approaching support at 1181 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce up to its resistance at 1194 (38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
USDCHF is testing its resistance at 0.9808 (100% Fibonacci extension, 50% Fibonacci retracement, horizontal overlap resistance) where a reversal to its support at 0.9751 (23.6 % Fibonacci retracement, horizontal swing low support) could occur.
Stochastic (55, 5, 3) has reversed off its resistance at 98% where a corresponding drop could occur.
GBPAUD bounced nicely off its support at 1.8011 (61.8% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 1.8099 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (55, 5, 3) is bounced off its support at 4.9% where a corresponding rise could occur.
CADCHF is approaching its resistance at 0.7708 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could reverse down to its support at 0.7524 (50% Fibonacci retracement, horizontal overlap support).
Stochastic (55, 5, 3) is approaching its resistance at 99% where a corresponding reversal could occur.
Weekly Gain/Loss: +2.46%
Weekly Close: 0.9816
Weekly perspective:
The USD/CHF, in the shape of a full-bodied bullish candle, soared to highs not seen since late August last week. Managing to overthrow its 2018 yearly opening level at 0.9744, the pair is in a healthy position to continue north this week and test a notable supply zone priced in at 0.9984-0.9894....
