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EURUSD Daily Pivots

R3 1.2793
R2 1.2754
R1 1.2678
Pivot 1.2644
S1 1.2573
S2 1.2533
S3 1.2462

 EURUSD Pivot Points Technical analysis outlook October 13 2014

The inverted head and shoulders patterns that seemed to be a bit tricky after a break out of the neckline failed as EURUSD closed back below the neckline, trading close to the right shoulder, only to rally back up to the neckline. EURUSD could potentially seek to target the level of 1.2828 if the neckline holds, while today’s daily pivot will be key to determining further declines in this pair, with a test back to 1.258.

USDJPY Daily Pivots

R3 108.592
R2 108.374
R1 108.058
Pivot 107.84
S1 107.524
S2 107.306
S3 106.99

USDJPY Pivot Points Technical analysis outlook October 13 2014

Today’s price action saw some bearish activity after the break out from the congestion zone saw prices trading near 107.2. A down gap was formed near 107.41 which, if filled could see further declines towards the target of 106.42, the price objective from the descending triangle.

GBPUSD Daily Pivots

R3 1.6255
R2 1.6195
R1 1.6128
Pivot 1.607
S1 1.60
S2 1.5941
S3 1.5874

GBPUSD Pivot Points Technical analysis outlook October 13 2014

GBPUSD broke down to decline close to the trend line shown on chart for a rally back to the initial breakout from the rectangle pattern. Likely support could be found near the daily pivot of 1.607 before we wait for further clues from GBPUSD.