EUR/USD: Focus on Fibonacci Level, 21-DMA. The daily stochastic study forms a bear-cross, while 10-day momentum is flirting with the zero line, keeping bear’s attention on the 21-DMA, which rises to $1.2272 and meets a support line at $1.2273. The main resistance is Fibonacci level at $1.2245, but while $1.2444 remains the high, there are additional Fibonacci supports at $1.2243 and
$1.2195. There are also minor upside trendlines at $1.2472 and $1.2511.
RES 4: $1.2539 76.4% retracement of July pullback
RES 3: $1.2460/78 Bollinger band, 61.8% retracement of $1.2748/1.2042
RES 2: $1.2444/45 High 6 Aug, 61.8% retracement of July pullback
RES 1: $1.2395 55-Day moving average
LATEST PRICE: $1.2278
SUP 1: $1.2242/72 Low 10 Aug, 21-day moving average
SUP 2: $1.2134 Low 2 Aug
SUP 3: $1.2085 Bollinger band
SUP 4: $1.2042 Low 24 July
GBP/USD: Studies Edge Higher. GBP sees the 55 & 21-DMAs form support at $1.5590, $1.5633 as bulls face moving average and Fibonacci resistance from $1.5720 (200-DMA) to $1.5786 (a 50% retracement of the decline from 30 April to June 1. Studies provide a mild positive tone as the stochastic points higher and momentum recovers the zero line.
RES 4: $1.5908 61.8% retracement of May/Jun decline
RES 3: $1.5807/10 April lows
RES 2: $1.5756/68/86 100-DMA, High 27 July, Bollinger, 50% of May/Jun
RES 1: $1.5720 200-day moving average
LATEST PRICE: $1.5669
SUP 1: $1.5633 21-day moving average
SUP 2: $1.5557/90 Support line 12 July, 55-day moving average
SUP 3: $1.5480/90 Bollinger band, Low 2 Aug
SUP 4: $1.5459 Low 25 July
USD/JPY: Stochastic Study Remains Firm. The pair continues to see a firm stochastic study as bulls push over the 200-DMA of Y79.20 as well as into the Ichimoku cloud of Y79.14/51. However, the move is also pushing out of the Bollinger band, sending a warning to bulls. Additional support comes from MA & Ichimoku studies within Y78.92/79.03 and Y78.45/57/72.
RES 4: Y80.16 2% moving average envelope
RES 3: Y79.70 100-day moving average
RES 2: Y79.51 Top of the Ichimoku cloud
RES 1: Y79.30 Hourly high
LATEST PRICE: Y79.29
SUP 1: Y77.66/80 Low 1 June, Bollinger band
SUP 2: Y77.02 2% moving average envelope
SUP 3: Y76.32/37 Daily lows Aug 2011
SUP 4: Y76.03/16 Low 1 Feb 2012, 19 Aug, 23 Sep 2011
EUR/JPY: Daily Studies Mixed. EUR/JPY sees the daily stochastic form a bear-cross ahead of overbought territory, although 10-day momentum is recovering atop the zero line. Nearby, the 21-day moving average and Tenkan line are at Y96.27/42 with the Kijun line at Y95.95 ahead of the recent Y95.72 low. Bulls need to focus on the Y97.82/88 high and Fibonacci level.
RES 4: Y99.26 Base of the Ichimoku cloud
RES 3: Y98.76/93 61.8% of “July” pullback, 2% MAE
RES 2: Y97.96/98.14 55-day moving average, Bollinger band
RES 1: Y97.82/88 High 7 Aug, 50% retracement
LATEST PRICE: Y97.38
SUP 1: Y95.72 Low 10 Aug
SUP 2: Y94.93/00 Low 2 Aug, 2% MAE
SUP 3: Y94.34 Bollinger band
SUP 4: Y94.12 Low 25 July
EasyForexNews Research Team