EUR/USD: Pushing Out of Bollinger Band. EUR/USD has made a significant break above the 61.8% retracement level and also the June resistance line as daily studies turn higher. However, the move is also pushing out of the daily Bollinger band of $1.2525, suggesting the move may be a little stretched near-term. Bulls focus on the 100-DMA at $1.2618, while the 5-DMA lends initial support, meeting the former $1.2444 high.
RES 4: $1.2693 High 29 June
RES 3: $1.2666 50% of May/Jul decline
RES 2: $1.2618 100-day moving average
RES 1: $1.2582 76.4% retracement of pullback from 18 June
LATEST PRICE: $1.2541
SUP 1: $1.2444 Early August high, 5-day moving average
SUP 2: $1.2390 55-day moving average
SUP 3: $1.2320/45 Support line from 25 July, 21-day moving average
SUP 4: $1.2242 Low 10 Aug
GBP/USD: Bulls Face Fibonacci Level. GBP is also pushing out of it’s Bollinger band of $1.5871, but bulls remain encouraged by positive daily studies and attention is now on Fibonacci level at $1.5908. The 5-DMA turns initial support at $1.5793 ahead of the 100-DMA and recent high at $1.5749/68.
RES 4: $1.6115 Low 7 May
RES 3: $1.6058/62 76.4% retracement, High 2 April
RES 2: $1.5981 Implied Channel top
RES 1: $1.5908/17 61.8% retracement of May/Jun decline, 100-week MA
LATEST PRICE: $1.5896
SUP 1: $1.5749/68 100-day moving average, High 27 July
SUP 2: $1.5718 200-day moving average
SUP 3: $1.5625/37/89 55-DMA, Low 16 Aug, 21-day moving average
SUP 4: $1.5578/89 Low 10 Aug, Support line 12 July
USD/JPY: Sharp Pullback from Ichimoku Cloud, 100-DMA. The pair pulled back from a test of the Ichimoku cloud top and the 100-day moving average and slipped below moving average and Ichimoku levels from Y78.60, Y78.80/91 and Y79.06/14. The move has seen a bear-cross in the daily stochastic study and momentum is now poised fro a break under the zero line, turning attention back towards the Y78.03 support line from 1 June.
RES 4: Y79.49/52/66 Top of Ichimoku cloud, 100-DMA, High 20 Aug
RES 3: Y79.25 200-day moving average
RES 2: Y79.06/14 55 & 5-DMA, Ichimoku cloud base
RES 1: Y78.80/91 Kijun & Tenkan lines
LATEST PRICE: Y75.59
SUP 1: Y78.27 Low 22 August
SUP 2: Y78.03/12 Support line from 1 June, 1% Moving average envelope
SUP 3: Y77.81 Bollinger band
SUP 4: Y77.66 Low 1 June
EUR/JPY: Nudging Into Ichimoku Cloud. EUR/JPY is nudging into the Ichimoku cloud base at Y98.28 with the 55-day moving average behind there at Y97.96. The daily stochastic study whilst pointing higher is now entering overbought.
RES 4: Y100.36 100-day moving average
RES 3: Y100.01 Ichimoku cloud top
RES 2: Y99.63/67 2% moving average envelope. 76.4% of July pullback
RES 1: Y99.08/19 Bollinger band, High 21 Aug
LATEST PRICE: Y98.50
SUP 1: Y98.28 Base of the Ichimoku cloud
SUP 2: Y97.96 55-day moving average
SUP 3: Y97.46 Tenkan line
SUP 4: Y97.06 21-day moving average
EasyForexNews Research Team