EUR/USD: Recovery Capped By The 21-Day Moving Average. EUR/USD recovery failed to make headway against the 21-day moving average, now initial resistance, with support now coming from the 23.6% Fibonacci level at $1.2906 followed by strong support seen at the 200-DMA at $1.2825. 10-day momentum rebounds from the zero-line, a bullish signal, while RSI & slow stochastics look neutral.
RES 4: $1.3115 Upper Bollinger Band
RES 3: $1.3072/85 High Oct 5, One year trendline
RES 2: $1.3036 Resistance from Sept 17
RES 1: $1.2958 21-day moving average
LATEST PRICE: $1.2928
SUP 1: $1.2906 23.6% Fibonacci retracement of $1.2043-1.3172
SUP 2: $1.2825 200-day moving average
SUP 3: $1.2801/03 Lower Bollinger band, Low 1 Oct
SUP 4: $1.2770 Support line from July
GBP/USD: Daily Tech Studies Turning Higher. The pair pulling back from the former 23.6% retracement of the Jun-Sep rally while daily tech studies begin to show a hint of bullish sentiment as slow stochastics looks to cross and form a buy-signal. Resistance seen from the former 23.6% level at $1.6064 followed by the 21-day moving average at $1.6149. Support seen as the lower Bollinger band at $1.5983.
RES 4: $1.6218 High 5 Oct
RES 3: $1.6201 Resistance line from Sep 21
RES 2: $1.6149 21-day moving average
RES 1: $1.6064 Former 23.6% Fibonacci of $1.5269-1.6309
LATEST PRICE: $1.6028
SUP 1: $1.5983 Lower 21-day Bollinger band
SUP 2: $1.5977 Lows 9 & 10 Oct
SUP 3: $1.5960/67 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
SUP 4: $1.5927 55-day moving average
USD/JPY: Bulls Fail Ahead Of Ichimoku Cloud. Daily tech studies head lower as slow stochastics forms a sell-signal while bulls try and push a move towards the Ichimoku cloud base. Resistance seen at Y78.41, the Tenkan line and 55-DMA, however, downside pressure mounts and risk seen towards the Y78.18/23 Kijun line and 21-DMA support level.
RES 4: Y79.22/37 High Sep 19, 200-day moving average
RES 3: Y79.01 Top of Ichimoku cloud
RES 2: Y78.68/76/87 Base of Ichimoku cloud, 100-DMA, High 5 Oct
RES 1: Y78.41 Tenkan line, 55-DMA
LATEST PRICE: Y78.35
SUP 1: Y78.18/23 Kijun line, 21-DMA
SUP 2: Y78.06 Support line from Sep 28
SUP 3: Y77.98 61.8% of October recovery
SUP 4: Y77.44 Low Sep 28
EUR/JPY: Recovers From Jul Support Line. EUR/JPY recovers from the test of the July support line, now redrawn and support at Y100.38, following the moving average crossover of the 55 and 100-DMAs. Daily tech studies also recover and appear to be turning bullish. Focus turns to 200-DMA at Y101.38.
RES 4: Y102.80 High Oct 5
RES 3: Y101.81 200-day moving average
RES 2: Y101.48 Tenkan line
RES 1: Y101.69 Kijun line
LATEST PRICE: Y101.34
SUP 1: Y100.78 23.6% Fibonacci of Y102.80-100.16
SUP 2: Y100.38 Redrawn support line from Jul
SUP 3: Y100.13/18 38.2% of July/Sep and 61.8% of Aug/Sep rallies
SUP 4: Y99.54/68 – Lows 11, 27 Sep
EasyForexNews Research Team