EUR/USD: Still Testing Bollinger Band. The pair has made a significant break above the 61.8% retracement level, which had capped at $1.2444 and now turns resistance. The daily studies remain strong, however the move is also testing the top of the daily Bollinger band of $1.2562, suggesting at least slower progress towards the 100-DMA at $1.2613.
RES 4: $1.2727/33 23.6% of $1.4940-$1.2043, Resistance line 29 Aug
RES 3: $1.2693 High 29 June
RES 2: $1.2666 50% of May/Jul decline
RES 1: $1.2613 100-day moving average
LATEST PRICE: $1.2556
SUP 1: $1.2444/90 Early August high, 5-day moving average
SUP 2: $1.2392 55-day moving average
SUP 3: $1.2333/59 Support line from 25 July, 21-day moving average
SUP 4: $1.2242 Low 10 Aug
GBP/USD: Bulls Face Fibonacci Level. GBP is correcting slightly back into it’s Bollinger band of $1.5881, with the move threatening a downturn in the daily studies. This comes after as test of Fibonacci level at $1.5908. The 5-DMA turns initial support at $1.5818 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: $1.5908/13 61.8% retracement of May/Jun decline, High 23 Aug
LATEST PRICE: $1.5859
SUP 1: $1.5749/68 100-day moving average, High 27 July
SUP 2: $1.5718 200-day moving average
SUP 3: $1.5632/37/90 55-DMA, Low 16 Aug, 21-day moving average
SUP 4: $1.5578/95 Low 10 Aug, Support line 12 July
USD/JPY: Pullback from Ichimoku Cloud, 100-DMA. USD/JPY 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 Y78.65, Y78.80/91 and Y79.04/14. The move has seen a bear-cross in the daily stochastic study and momentum is testing the zero line, turning attention back towards the Y78.04 support line from 1 June.
RES 4: Y79.50/66 100-DMA, High 20 Aug
RES 3: Y79.26/36 200-day moving average, Top of Ichimoku cloud
RES 2: Y79.04/14 55-DMA, Ichimoku cloud base
RES 1: Y78.80/91 Kijun & Tenkan lines
LATEST PRICE: Y78.56
SUP 1: Y78.27 Low 22 August
SUP 2: Y78.04/14 Support line from 1 June, 1% Moving average envelope
SUP 3: Y77.82 Bollinger band
SUP 4: Y77.66 Low 1 June
EUR/JPY: Nudging Into Ichimoku Cloud. The pair is nudging into the Ichimoku cloud base at Y98.00 with the 55-day moving average behind there at Y97.96. The daily stochastic study whilst pointing higher is now entering overbought territory, while momentum remains firm.
RES 4: Y100.28 100-day moving average
RES 3: Y99.76 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: Y98.62
SUP 1: Y98.53 5-day moving average
SUP 2: Y97.96/00 55-day moving average, Base of the Ichimoku cloud
SUP 3: Y97.56 Tenkan line
SUP 4: Y97.19 21-day moving average
EasyForexNews Research Team