The euro dollar (EUR / USD): technical analysis today 21 October 2015
As expected, the price remained in the range of 1.1380-1.1300 and is now testing resistance at this formation - trade is conducted at levels 1.1370 / 80.Changes in the market situation occurs again.
However, indicators have strengthened its omni directional graphs that may indicate an increase in uncertainty.Obviously, this gives reason to keep waiting the same - in the short term sideways consolidation will continue.Even if the "bulls" will be able to penetrate the test is now resistance at 1.1380, the rise is likely to be stretched only to the level of 1.1420. Break of the support 1.1300 / 10 will indicate a significant increase in the "bearish" building, but the decline, yet is limited by the support at 1.1230 / 20.
Pound US Dollar (GBP / USD): technical analysis today, 21 October 2015
Buyers Sterling failed to break the resistance of 1.5500, quotes strayed down, testing the support at 1.5420 and now rolls up. Trade is conducted at levels 1.5440 / 50. Such a turn of events was observed in the last comment as a signal to continue the sideways movement in the formed passage. Indicators show the evidence indicates a high probability of further development of the lateral correction - R% and MACD in a downward motion, and SS remains are stuck in the overbought zone. However, the position of the stochastics suggest the continuing priority of the "bullish" sentiment, which indicates a high probability of the price of the "outset" up. Break of 1.5500 level will signal the beginning of growth to the next goal, which is celebrated at the level of 1.5660 / 70.The alternative scenario will acquire significance in the breakdown of support 1.5420 / 30. It will be the first warning of a possible change in trend on this pair.
Author: Arkady Nagiyev
Fundamental analysis of the currency market Forex4you