EUR/USD: Bulls Focus on One-Year Trendline. The pair sees a bull-cross for the stochastic and momentum studies, turning bulls attention to a one-year trendline at $1.3103. Support now initial comes from the 21 & 5-DMAs of $1.2953/70 with support line behind at $1.2892 and the 200-DMA at $1.2824.
RES 4: $1.3173 – High 17 Sep
RES 3: $ 1.3123 – Bollinger Band
RES 2: $1.3103 – One year trendline
RES 1: $1.3072 – High Oct 5
LATEST PRICE: $1.2987
SUP 1: $1.2953/70 – 21, 5-day moving average
SUP 2: $1.2892 – Minor support line
SUP 3: $1.2800/24 – Bollinger band, 200 day moving average
SUP 4: $1.2726 – Support line from July
GBP/USD: Fibonacci Level Caps. GBP pulls back from Fibonacci level at $1.6218 to give back the 21-day moving average, which turns initial resistance at $1.6164. Bears are now focused on the $1.6067 low with Fibonacci levels starting from $1.6033.
RES 4: $1.6310 – 2012 high Sep 21
RES 3: $1.6273/83 – High Sep 28, Bollinger band
RES 2: $1.6218 – High 5 Oct, 61.8% retracement of Sep pullback
RES 1: $1.6164 – 21 day moving average
LATEST PRICE: $1.6111
SUP 1: $1.6033 – Initial Fibonacci level (50% of 28 Aug rally)
SUP 2: $1.6061/67 – Bollinger band, Low Oct 3
SUP 3: $1.5968 – 61.8% retracement of 28 Aug rally
SUP 4: $1.5913 – 38.2% retracement of $1.5270-$1.6310 move, High Aug 23
USD/JPY: Tests Ichimoku Cloud. USD/JPY built off a band of support from Y78.15/46 and reached Y78.88, testing the 100-day moving average and Bollinger band top as well as the base of the Ichimoku cloud. The studies remain firm, but bulls need to extend gains towards the cloud top of Y79.27.
RES 4: Y79.66 – High Aug 20
RES 3: Y79.34 – 200-day moving average
RES 2: Y79.22/27 – High Sep 19, Top of Ichimoku cloud
RES 1: Y78.83/88 – 100-day moving average, Base of Ichimoku cloud, High 5 Oct
LATEST PRICE: Y78.54
SUP 1: Y78.41/46 – Kijun line, 5-DMA
SUP 2: Y78.15/16 – Tenkan line, 21-DMA
SUP 3: Y77.13/44 – Low Sep 13, Sep 28
SUP 4: Y 76.50 – Low Feb 6
EUR/JPY: Holds Over 200-Day Moving Average. EUR/JPY also sees daily studies recover, including a bull-cross in the daily stochastic and momentum studies. The move pushed over the 200-day moving average, which turns initial support at Y101.77 and turns bull’s attention to a minor resistance line from April highs, coming in at Y102.93.
RES 4: Y103.86 – High Sep 17
RES 3: Y103.08 – Bollinger band
RES 2: Y102.93 – Resistance line from April
RES 1: Y102.80 – High Oct 5
LATEST PRICE: Y102.01
SUP 1: Y101.77/80 – 200, 5-day moving average
SUP 2: Y101.23/24 -Tenkan, 21-day moving average
SUP 3: Y100.92 – Kijun line
SUP 4: Y100.39 – July support line
EasyForexNews Research Team