EUR/USD: Bulls Eye 100-Day Moving Average. The pair holds above the former 61.8% retracement level, which had capped at $1.2444, with this level now turning support. The daily studies remains firm as bulls eye the 100-day moving average of $1.2596. Bears want to look towards the rising channel support line and 21-DMA of $1.2371/92.
RES 4: $1.2712/27 Resistance line 29 Aug, 23.6% of $1.4940-$1.2043
RES 3: $1.2680/93 Rising implied channel top, High 29 June
RES 2: $1.2666 50% retracement of May/Jul decline
RES 1: $1.2596 100-day moving average
LATEST PRICE: $1.2557
SUP 1: $1.2444 Early August high
SUP 2: $1.2392 21, 55-day moving average
SUP 3: $1.2371 Support line from 25 July
SUP 4: $1.2242 Low 10 Aug
GBP/USD: Bulls Fade at Fibonacci Level. GBP is correcting back into it’s Bollinger band of $1.5900, with the move accompanied by a downturn in the daily studies. This comes after as test of Fibonacci level at $1.5908. Support is from the 100-DMA at $1.5746. Looking at Fibonacci support levels, while $1.5913 remains the high, main levels are at $1.5740/51, $1.5701/14, $1.5686, $1.5632/53/67, $1.5591 (main) and also $1.5515.
RES 4: $1.6115 Low 7 May
RES 3: $1.6058/62 76.4% retracement, High 2 April
RES 2: $1.5994 Implied Channel top
RES 1: $1.5908/13 61.8% retracement of May/Jun decline, High 23 Aug
LATEST PRICE: $1.5817
SUP 1: $1.5746 100-day moving average
SUP 2: $1.5721 200-day moving average
SUP 3: $1.5707 21-day moving average
SUP 4: $1.5615/37 Support line 12 July, 55-DMA & Low 16 Aug
USD/JPY: Studies Weaken. USD/JPY pulls further away from the Y79.12/14 Ichimoku cloud as daily studies deliver negative signals. This has bear’s attention on the Y78.05 support line from 1 June.
RES 4: Y79.41/66 100-DMA, High 20 Aug
RES 3: Y79.28 200-day moving average
RES 2: Y79.00/14 55-DMA, Tenkan line, Parameters of Ichimoku cloud
RES 1: Y78.80 Kijun line
LATEST PRICE: Y78.59
SUP 1: Y78.27 Low 22 August
SUP 2: Y78.06/14 Support line from 1 June, 1% Moving average envelope
SUP 3: Y77.95 Bollinger band
SUP 4: Y77.66 Low 1 June
EUR/JPY: Studies Weaken, Tests 55-Day Moving Average. EUR/JPY is weakening within the Y96.93/Y98.78 Ichimoku cloud with the 55-day moving average initial support at Y97.92. The daily stochastic study is now showing a bear-cross as 10-day momentum
also fades. Looking at Fibonacci support levels, while Y99.19 remains the high, main levels are at Y97.86, Y97.46/56, Y97.25, Y97.05 (main), Y96.55/65 and also Y96.05.
RES 4: Y100.05 100-day moving average
RES 3: Y99.57/67 Bollinger band, 76.4% retracement of July pullback
RES 2: Y99.19 High 21 Aug
RES 1: Y98.78 Ichimoku cloud top
LATEST PRICE: Y98.68
SUP 1: Y97.92 55-day moving average
SUP 2: Y97.52 21-day moving average
SUP 3: Y96.93 Base of the Ichimoku cloud
SUP 4: Y96.66 Kijun line
EasyForexNews Research Team