Crosses Daily Forecast Oct 18 2016

EURGBP, Consolidates With Upside Bias...EURJPY, Pulls Back With Caution...GBPJPY, Bearish Despite Recovery Attempts...

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EURGBP, Consolidates With Upside Bias…

As long as 0.9000 support holds on a daily closing basis, the EURGBP remains on the upside to the 0.9116 levels ahead of the 0.9238 levels.

Below 0.9000 sees a pullback risk to the 0.8830 levels before the next rising…

Conclusion: The EURGBP continues to face upside threats above 0.9000 levels despite hesitation…

crosses-daily-forecast-oct-18-2016-eurgbpEURJPY, Pulls Back With Caution

As long as 115.25 resistance holds on a daily closing basis, the EURJPY remains in a pullback mode and further down could be seen, but downside below 115.25 should be contained well by the 113.85 levels, below 113.85 will extend the pullback to the 112.92 levels. Above 115.25 will restore the upside momentum and turn the focus on the 116.35 levels…

crosses-daily-forecast-oct-18-2016-eurjpyGBPJPY, Bearish Despite Recovery Attempts…

As long as 125.38 support holds on a 4-hour closing basis, the GBPJPY remains in a recovery mode and further upside could be seen, but upside above 125.38 should be limited by the 127.85 levels where fall resumption is likely, above 127.85 will extend recovery to the 129.60 levels, below 125.38 will restore the downside momentum and open the 124.65/123.30 levels…

crosses-daily-forecast-oct-18-2016-gbpjpy

 

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