Tuesday, October 1, 2013

Market Analysis – Tuesday, October 1st 2013

For those traders and investors waiting to see a big move in the markets, tomorrow’s calendar of events should provide that action. Not only will there be an an ECB press conference, but we will also hear words from US Fed Chairman Bernanke. Additionally we will be receiving US employment numbers. It should be an action packed day. Those looking for additional assistance, we at CMTrading are here to help those looking to profit in the financial markets.



It’s currently trading at 1.3545 and remains within reach of the yearly high of 1.3710. Targets on the upside are 1.3595 and 1.3640. On the downside targets are 1.3520 and 1.3480.

R1:  1.3550
R2:  1.3595
R3:  1.3640
S1:  1.3520
S2:  1.3480
R3:  1.3460



Major pullbacks on the GBPUSD have been rare. Since July the GBPUSD has seen a meteoric 1400 pip rise all the way from the low 1.48’s. The major target on the upside remains at 1.6380 and the downside target is 1.5995.

R1:  1.6260
R2:  1.6290
R3:  1.6305
S1:  1.6210
S2: 1.6175
R3:  1.6135



The currency has been rangebound for the past 5 trading days between .8216 and .8341. If it breaks through these ranges, it’s upside target is .8388 and the downside target is .8156.

R1:  .8293
R2:  .8325
R3:  .8341
S1:  .8258
S2:  0.8213
R3:  0.8158


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