EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3093, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2953/58 with support now at the 200-DMA of $1.2823. 10-day momentum has also faded at the zero line but the stochastic study is yet to reverse it’s more bullish stance.
RES 4: $1.3173 – High 17 Sep
RES 3: $ 1.3122 – Bollinger Band
RES 2: $1.3072/93 – High Oct 5, One year trendline
RES 1: $1.2953/58 – 5, 21-day moving average
LATEST PRICE: $1.2858
SUP 1: $1.2823 – 200-day moving average
SUP 2: $1.2800/03 – Bollinger band, Low 1 Oct
SUP 3: $1.2752 – Support line from July
SUP 4: $1.2740 – 38.2% retracement of Jul/Sep rally
GBP/USD: Testing Lower Bollinger Band. GBP pulled back from a Fibonacci level at $1.6218 to give back the 21-day moving average, which turns resistance at $1.6156 behind the 5-DMA of $1.6068. Bears are now focusing on Fibonacci levels starting from $1.5968, although the move is trading below the base of the daily Bollinger band, which argues against fast losses.
RES 4: $1.6310/15 – 2012 high Sep 21, Bollinger band
RES 3: $1.6273 – High Sep 28
RES 2: $1.6218 – High 5 Oct
RES 1: $1.6156 – 21 day moving average
LATEST PRICE: $1.5988
SUP 1: $1.5975 – Low 9 Oct
SUP 2: $1.5960/68 – 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
SUP 3: $1.5913 – 55-DMA, 38.2% retracement of $1.5270-$1.6310 move & High Aug 23
SUP 4: $1.5901 – 50% of Aug/Sep rally
USD/JPY: Pullback from Test of Ichimoku Cloud. Dollar-yen reached Y78.88 last week, testing the 100-day moving average and Bollinger band top as well as the base of the Ichimoku cloud, which now declines to Y78.66. The studies remain firm, but bulls need to extend gains towards the cloud top of Y79.27 to a void a pullback towards the Tenkan line & 21-DMA of Y78.15/17.
RES 4: Y79.66 – High Aug 20
RES 3: Y79.36 – 200-day moving average
RES 2: Y79.22/27 – High Sep 19, Top of Ichimoku cloud
RES 1: Y78.66/80/88 – Base of Ichimoku cloud, 100-DMA, High 5 Oct
LATEST PRICE: Y78.25
SUP 1: Y78.24 – Kijun line
SUP 2: Y78.15/17 – Tenkan line, 21-DMA
SUP 3: Y77.13/44 – Low Sep 13, Sep 28
SUP 4: Y 76.50 – Low Feb 6
EUR/JPY: Tests Support Line. Euro-yen pulls back from the 200-DMA of Y101.78, as well as Ichimoku & MA studies, which turn interim resistance at Y100.93 and Y101.23/30. This has bears pushing below the July support line and turning their attention to Fibonacci levels at Y100.41 and Y100.13/18, despite the remaining firm daily studies.
RES 4: Y102.80/81 – High Oct 5, Resistance line from April
RES 3: Y101.78 – 200-day moving average
RES 2: Y101.23/30 -Tenkan, 21-day moving average
RES 1: Y100.93 – Kijun line
LATEST PRICE: Y100.60
SUP 1: Y100.41 -76.4% retracement of Oct recovery
SUP 2: Y100.13/18 – 38.2% of July/Sep and 61.8% of Aug/Sep rallies
SUP 3: Y99.54/68 – Lows 11, 27 Sep
SUP 4: Y98.99/99.13 – 50% of Jul/Sep rally, 55-day moving average
EasyForexNews Research Team