EUR/USD: Breaks Above Fibonacci Level. Euro has broken above 61.8% retracement level at $1.2445 and now tests a resistance line at $1.2489. The daily studies are turning higher, although the indications are not strong, but the break of the Fibonacci level is significant.
RES 4: $1.2693 High 29 June
RES 3: $1.2623 100-day moving average
RES 2: $1.2582 76.4% retracement of pullback from 18 June
RES 1: $1.2488/89 High 21 Aug, Resistance line from 18 June
LATEST PRICE: $1.2466
SUP 1: $1.2390/95 55, 5-day moving average
SUP 2: $1.2308/23 Support line from 25 July, 21-day moving average
SUP 3: $1.2242 Low 10 Aug
SUP 4: $1.2134/94 Low 2 Aug, Bollinger band
GBP/USD: Breaks June, July Highs. Bulls remain in control following break above June/July highs as well as the 100-day moving average, which turns support at $1.5748 and 200-day moving average at $1.5717. The daily stochastic study is making new highs for the move, albeit edging into overbought territory. Resistance is from the $1.5807/10 April lows and $1.5848 interim May high.
RES 4: $1.6058/62 76.4% retracement, High 2 April
RES 3: $1.5908/17 61.8% retracement of May/Jun decline, 100-week MA
RES 2: $1.5848 High 22 May
RES 1: $1.5807/10 April lows
LATEST PRICE: $1.5787
SUP 1: $1.5742/48 5, 100-day moving average
SUP 2: $1.5717 200-day moving average
SUP 3: $1.5617/37/65 55-DMA, Low 16 Aug, 21-day moving average
SUP 4: $1.5578/83 Low 10 Aug, Support line 12 July
USD/JPY: Capped by Ichimoku Cloud, 100-DMA. The pair has failed to sustain break above the Ichimoku cloud top and the 100-day moving average, forming resistance at Y79.51/66, as the daily stochastic enters overbought territory. The base of the cloud and 200-DMA turn support at Y79.14/24.
RES 4: Y80.61/91 High 25 June, 50% of Mar/June decline
RES 3: Y80.56 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: Y79.51/56/66 Top of Ichimoku cloud, 100-DMA, High 20 Aug
LATEST PRICE: Y79.27
SUP 1: Y79.14/24 Base of Ichimoku cloud, 200-day moving average
SUP 2: Y78.64/80/91 21-DMA, Kijun & Tenkan lines
SUP 3: Y78.02/19 Support line from 1 June, 1% Moving average envelope
SUP 4: Y77.66/78 Low 1 June, Bollinger band
EUR/JPY: Nudging Above Ichimoku Cloud Base. EUR/JPY is nudging above the Ichimoku cloud base at Y98.59 with the 55 & 5-day moving averages behind there at Y98.00/40. The daily stochastic study whilst pointing higher is now entering overbought territory.
RES 4: Y100.46 100-day moving average
RES 3: Y100.01 Ichimoku cloud top
RES 2: Y99.48/67 2% moving average envelope. 76.4% of July pullback
RES 1: Y99.19 High 21 Aug
LATEST PRICE: Y98.83
SUP 1: Y98.00/40 55, 5-day moving average
SUP 2: Y97.46 Tenkan line
SUP 3: Y96.65/91 Kijun line, 21-day moving average
SUP 4: Y95.72 Low 10 Aug
EasyForexNews Research Team