EUR/USD: Pullback Through 21-Day Moving Average. The pair fails ahead of the one-year trendline, now at $1.3089, falling back through the 5 & 21-DMAs, which turn initial resistance at $1.2930/58 with support now at the 200-DMA of $1.2823. 10-day momentum has also faded at the zero line as the stochastic study moves towards reversing it’s more bullish stance. The Oct 1 low at $1.2790 sits behind that 200-DMA.
RES 4: $1.3173 – High 17 Sep
RES 3: $ 1.3120 – Bollinger Band
RES 2: $1.3072/89 – High Oct 5, One year trendline
RES 1: $1.2930/58 – 5, 21-day moving average
LATEST PRICE: $1.2875
SUP 1: $1.2823 – 200-day moving average
SUP 2: $1.2790/1.2803 – Bollinger band, Low 1 Oct
SUP 3: $1.2765 – 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 $1.6153 behind the 5-DMA of $1.6036. Bears are now focusing on Fibonacci levels starting from $1.5968, although the move is testing the base of the daily Bollinger band, which argues against fast losses and helps bull’s hope for a double-bottom at $1.5975.
RES 4: $1.6310/18 – 2012 high Sep 21, Bollinger band
RES 3: $1.6273 – High Sep 28
RES 2: $1.6218 – High 5 Oct
RES 1: $1.6153 – 21 day moving average
LATEST PRICE: $1.6016
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: Bears Focus on Fibonacci Level. USD/JPY pulls back through the Tenkan line & 21-DMA of Y78.15/18, which turn initial resistance as bear’s focus on Fibonacci level at Y77.98. Break under there targets Y77.44 and Y77.13 lows, while bulls need to regain this level in order to return focus back to the Ichimoku cloud up at Y78.66.
RES 4: Y79.22/36 – High Sep 19, 200-day moving average
RES 3: Y79.01 -Top of Ichimoku cloud
RES 2: Y78.66/78/88 – Base of Ichimoku cloud, 100-day moving average, High 5 Oct
RES 1: Y78.15/18/24 – Tenkan line, 21-DMA, Kijun line
LATEST PRICE: Y78.03
SUP 1: Y77.98 – 61.8% of October recovery
SUP 2: Y77.44 – Low Sep 28
SUP 3: Y77.13 – Low Sep 13
SUP 4: Y 76.50 – Low Feb 6
EUR/JPY: Breaks Support Line. EUR/JPY pulls back from the 200-DMA of Y101.79, as well as Ichimoku & MA studies, which turn interim resistance at Y100.93 and Y101.30. This has bears pushing below the July support line and turning their attention to Fibonacci levels at Y100.13/18 as daily studies start to fade.
RES 4: Y102.74/80 – Resistance line from April, High Oct 5,
RES 3: Y101.79 – 200-day moving average
RES 2: Y101.30 -Tenkan, 21-day moving average
RES 1: Y100.93 – Kijun line
LATEST PRICE: Y100.42
SUP 1: Y100.13/18 – 38.2% of July/Sep and 61.8% of Aug/Sep rallies
SUP 2: Y99.54/68 – Lows 11, 27 Sep
SUP 3: Y99.20 – 55 day moving average
SUP 4: Y98.99 – 50% of Jul/Sep rally
EasyForexNews Research Team