It tested 1.4600 level several times yesterday and looks a bit heavy below 1.4700 level today and has potential for a test of the 1.4530 (old DEM Aug 95 high) key support near term.

Support/Resistance Indicators/momentum

Key resistance today 1.4730

Key support today 1.4530

Favoured strategy today: Bearish below 1.4700

Res 3 1.4753

Res 2 1.4724

Res 1 1.4704

Sup 1 1.4600

Sup 2 1.4530

Sup 3 1.4400


Broke below the 2.0500 level key support yesterday, which opens for a test of 2.0300 level near term. The tone is bearish below 2.0500 for today.

Support/Resistance Indicators/momentum

Res 3 2.0730

Res 2 2.0653

Res 1 2.0500

Sup 1 2.0400

Sup 2 2.0306

Sup 3 2.0257

Key resistance today 2.0500

Key support today 2.0300

Favoured strategy today: Bearish below 2.0500


Bearish momentum below 1.1300 resistance today and key support is 1.1176 (yearly low).

Support/Resistance Indicators/momentum

Res 3 1.1450

Res 2 1.1370

Res 1 1.1300

Sup 1 1.1176

Sup 2

Sup 3

Key resistance today 1.1300

Key support today 1.1176

Favoured strategy today: Bearish below 1.1300



The 112.00 resistance should hold and lower levels is to be expected after the recent weakness in stock markets. Basically the stock markets have to rebound to see this pair move higher. However I don't expect to break below the 109 level today.

Support/Resistance Indicators/momentum

Res 3 114.00

Res 2 113.25

Res 1 112.00

Sup 1 109.11

Sup 2

Sup 3

Key resistance today 112.00

Key support today 109.21

Favoured strategy today: Bearish below 112.00


From yesterday Key resistance is 163.90 today and any rally towards this level is possible selling opportunity. Backed off nicely from this level as carry trades continues to get reduced. However I expect the low point seen at the start of the week (158.67) to hold the downside near term.

Support/Resistance Indicators/momentum

Res 3 165.90

Res 2 164.30

Res 1 163.90

Sup 1 158.67

Sup 2 155.14

Sup 3 154.52

Key resistance today 163.90

Key support today 158.67

Favoured strategy today: Play range


Bullish above 0.7100 level and next key resistance is 0.7150 and 2003 high is at 0.7254.


Res 3 0.7254

Res 2 0.7200

Res 1 0.7150

Sup 1 0.7100

Sup 2 0.7027

Sup 3 0.6950

Key resistance today 0.7150

Key support today 0.7100

Favoured strategy today: Bullish above 0.7100



Broke slightly above falling resistance at 0.9827 yesterday, but I expect a move lower near term after the recent strong rally. Bullish momentum should be intact above 0.9604 support (yesterday's low) today.

Support/Resistance Indicators/momentum

Res 3 1.0014

Res 2 0.9982

Res 1 0.9843

Sup 1 0.9604

Sup 2 0.9510

Sup 3 0.9430

EMA'S 1 Hour Bearish

15 min Bearish

5 min Bullish

Key resistance today 0.9843

Key support today 0.9604

Favoured strategy today: Look for a correction lower

Major events today (GMT)

10:00 EMU Trade Balance (Sep)

14:00 US Net Long-Term TIC Flows (Sep)

14:15 US Industrial Production (Oct)

15:00 Fed's Lockhart speaks

Rainer's Astrological Column: (all times in GMT)


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