EUR/USD: Finds Support at 21-DMA. The euro sees a bear-cross in the daily stochastic study as the market slides to find support at the 21-day moving average of $1.2522, which meets a 50% retracement of the June rally at $1.2518. Bears need to break this area to seek the 61.8% Fibonacci level at $1.2463. The 5-DMA turns initial resistance at $1.2610.
RES 4: $1.2825 High 21 May, 55-day moving average
RES 3: $1.2786 50.0% retracement of $1.3284 to $1.2288
RES 2: $1.2748 High 18 June
RES 1: $1.2715 Daily Bollinger band top
LATEST PRICE: $1.2539
SUP 1: $1.2518/36 50% of June rally, 21-day moving average
SUP 2: $1.2437 Low 8 June
SUP 3: $1.2355 Daily Bollinger band base
SUP 4: $1.2288 Low 1 June
GBP/USD: Bear-Cross for Daily Stochastic Study. GBP sees a similar picture to EUR/USD with the daily stochastic study on the verge of a bear-cross and the market sliding towards a 50% retracement and the 21-DMA, which meet at $1.5525/50. Under there, the 61.8% retracement is $1.5463. The 5-day moving average also turns initial resistance at $1.5642.
RES 4: $1.5833/35 100, 55-day moving average
RES 3: $1.5802 Spike high 18 June
RES 2: $1.5765/78 Bollinger band, High 20 June
RES 1: $1.5755 200-day moving average
LATEST PRICE: $1.5589
SUP 1: $1.5525/50 50% of June rally, 21-day moving average
SUP 2: $1.5463 61.8% retracement of June rally
SUP 3: $1.5404 Low 8 June
SUP 4: $1.5322 Low 5 June, Bollinger band
USD/JPY: Breaks into Ichimoku Cloud. USD/JPY builds on gains to push into the Ichimoku cloud of Y80.09/Y81.59 and turn bulls attention to the 100-day moving average and May highs at Y80.50/62. The daily studies do not yet support the move, but bears need to push back towards the Y79.28 21-DMA.
RES 4: Y81.66/68 Top of the Ichimoku cloud, 61.8% of Y84.16-Y77.66
RES 3: Y81.15 2% moving average envelope
RES 2: Y80.91 50% retracement of Y84.16-Y77.66
RES 1: Y80.50/62 100-day moving average, High 16, 2 May
LATEST PRICE: Y80.28
SUP 1: Y80.09 Base of the Ichimoku cloud
SUP 2: Y79.83/91 High 7 June, 5, 55-day moving average
SUP 3: Y79.59 Tenkan line
SUP 4: Y79.11/28 Kijun line, 21-day moving average
EUR/JPY: Tests Fibonacci Level as Studies Fade. EUR/JPY tested a 38.2% retracement of the March-June decline, at Y101.64 before edging away from that level and the Bollinger band. The daily stochastic study did not support the move higher, however, itself threatening a bear-cross near overbought territory.
RES 4: Y102.77 Low 9 May
RES 3: Y102.11/29 High 22 May, 2% MAE
RES 2: Y101.85 Bollinger band
RES 1: Y101.63/64 High 21 June, 38.2% of Y111.42-Y95.59
LATEST PRICE: Y100.58
SUP 1: Y100.17 Tenkan line
SUP 2: Y99.28/38 1% MAE, 21-DMA
SUP 3: Y98.85 Kijun line
SUP 4: Y98.28 2% Moving Average Envelope
EasyForexNews Research Team