EUR/USD: Attempts Recovery Off 200-Day Moving Average. Euro-dollar attempts a recovery from the 200-DMA, which matches a minor rising support line at $1.2823. The pair put in a $1.28035 low before the bounce, which saw recovering momentum but a still-weak stochastic study. Bulls need to sustain a recovery of the 5 & 21-DMAs at $1.2886/89 as well as the September channel top at $1.2912.
RES 4: $1.3173 – Bollinger band, High 17 Sep
RES 3: $1.3121 – One year trendline
RES 2: $1.2960 – High Sept 28
RES 1: $1.2912 – September resistance line
LATEST PRICE: $1.2895
SUP 1: $1.2823 – 200 day moving average, Minor support line
SUP 2: $1.2733 – Implied channel base
SUP 3: $1.2676 – Support line from July
SUP 4: $1.2627 – Low Sept 7
GBP/USD: Focus on 21-Day Moving Average. GBP sees the daily studies weaken as bears turn their attention to a break of the 21-day moving average of $1.6126. Break under there could turn attention to Fibonacci level at $1.5913, which matches a former high from 23 Aug. The 5-day moving average turns initial light resistance at $1.6167.
RES 4: $1.6451 – High Aug 29, 2011
RES 3: $1.6326 – Bollinger band
RES 2: $1.6310 – 2012 high Sept 21
RES 1: $1.6273 – High Sept 28
LATEST PRICE: $1.6144
SUP 1: $1.6126 – 21 day moving average
SUP 2: $1.6109 – Low Oct 1
SUP 3: $ 1.5932 – Bollinger band
SUP 4: $1.5913 – 38.2% retracement of $1.5270-$1.6310 move, High Aug 23
USD/JPY: Studies Remain Soft. Dollar-yen holds below the 21-DMA and Ichimoku studies within Y78.15/41 as the Bollinger band also narrows to Y77.41/78.86. The daily studies remain weak, failing to provide the impetus to help bulls take out those levels and turn attention back towards the top of that band, which meets the 100-DMA.
RES 4: Y79.22/27/32 – High Sep 19, Top of Ichimoku cloud, 200-DMA
RES 3: Y78.86/91 – 100 day moving average, Base of Ichimoku cloud
RES 2: Y78.45 – High Sep 20
RES 1: Y78.15/41 – 21-day moving average, Kijun & Tenkan lines, 55-DMA
LATEST PRICE: Y78.10
SUP 1: Y77.87 – 5-day moving average
SUP 2: Y77.13 – Low Sep 13
SUP 3: Y76.50 – Low Feb 6
SUP 4: Y76.04 – 2012 low Feb 1
EUR/JPY: 21- DMA Continues To Cap. Euro-yen is still struggling to recover the 21-DMA, now at Y100.75, following the break and close below this level last week. Hesitation ahead of the recent Y99.64 lows is a concern to bears and hints at potential for a bounce back towards the 200-DMA.
RES 4: Y103.08 – Bollinger band
RES 3: Y101.65/72 – Tenkan line, 200 day moving average
RES 2: Y101.04 – High Sep 25
RES 1: Y100.75/88 – 21 day moving average, Kijun line
LATEST PRICE: Y100.75
SUP 1: Y99.64 – Low Sep 27
SUP 2: Y98.47/86 – 55,100 day moving average
SUP 3: Y97.88/92 – Top of Ichimoku cloud, Low Aug 28
SUP 4: Y97.24 – Base of Ichimoku cloud
EasyForexNews Research Team