EUR/USD: Breaks Above 55-Day Moving Average. Euro has broken above the 55-day moving average at $1.2391 and close above here is the next crucial test. Resistance is now seen at $1.2444/45, which is level that capped previous rally on Aug 6, the 61.8% of the July pullback from $1.2691 and the daily Bollinger band top. The daily studies are turning higher with stochastic threatening a bull-cross and 10-day momentum on verge of cross into positive territory.
RES 4: $1.2608 High 4 July
RES 3: $1.2539 76.4% retracement of July pullback
RES 2: $1.2461/78 Res line from 18 June, 61.8% of $1.2748/1.2042
RES 1: $1.2444/45 High 6 Aug, 61.8% of July pullback, Bollinger band
LATEST PRICE: $1.2411
SUP 1: $1.2346 5-day moving average
SUP 2: $1.2294 Support line from 24 July
SUP 3: $1.2242 Low 10 Aug
SUP 4: $1.2134/78 Low 2 Aug, Bollinger band base
GBP/USD: Breaks Above 100-Day Moving Average. Bulls remain in control following break above the 100-day moving average at $1.5755 and comes after yesterday’s close above the 200-day moving average, which is now valued at $1.5717. The daily stochastic study is making new highs for the move, albeit in overbought territory. Resistance is at $1.5768/86, where former is 50% of May/June decline.
RES 4: $1.5908/17 61.8% retracement of May/Jun decline, 100-week MA
RES 3: $1.5848 High 22 May
RES 2: $1.5807/10 April lows
RES 1: $1.5768/86 High 27 July, 50% of May/Jun decline
LATEST PRICE: $1.5758
SUP 1: $1.5717 200-day moving average
SUP 2: $1.5612/51 55, 21-day moving average
SUP 3: $1.5576/78 Support line 12 July, Low 10 Aug
SUP 4: $1.5516 Bollinger band base
USD/JPY: Fails To Sustain Gains Above Ichioku Cloud/100-DMA. Dollar failed to sustain break above the Ichimoku cloud top and the 100-day moving average yesterday and this is seen as crucial resistance area at Y79.51/59, respectively. The fast 10-day momentum study is already beginning to turn lower and stochastic study is now approching overbought territory. Support is at Y79.14/22.
RES 4: Y80.61/91 High 25 Jun, 80.91 50% of Mar/June decline
RES 3: Y80.41 2% moving average envelope
RES 2: Y79.91/98/80.09 High 12 Jul, 76.4% of 25 June decline, High 5 Jul
RES 1: Y79.51/59 Top of Ichimoku cloud, 100-day moving average
LATEST PRICE: Y79.45
SUP 1: Y79.14/22 Base of Ichimoku cloud, 200-day moving average
SUP 2: Y78.59/79/91 21-DMA, Kijun & Tenkan lines
SUP 3: Y78.02/12 Support line from 1 June, 1% Moving average envelope
SUP 4: Y77.66/68 Low 1 June, Bollinger band
EUR/JPY: Nudging Above Ichimoku Cloud Base. Cross is nudging above the Ichimoku cloud base at Y98.58 with the 5 & 55-day moving average’s poised to give bull-cross — but as yet unconfirmed. The daily stochastic study whilst pointing higher is now looking ooverbought, with momentum study showing bear-divergence signal. Bollinger band top provides resistance at Y98.68
RES 4: Y100.02/55 Ichimoku cloud top, 100-day moving average
RES 3: Y99.27 2% moving average envelope
RES 2: Y98.76 61.8% of “July” pullback
RES 1: Y98.68 Bollinger band
LATEST PRICE: Y98.56
SUP 1: Y97.98/98.00 5 & 55-day moving average
SUP 2: Y97.19 Tenkan line
SUP 3: Y96.39/68 Kijun line, 21-day moving average
SUP 4: Y95.72 Low 10 Aug
EasyForexNews Research Team