EUR/USD: Euro-Dollar Fails To Close Above 21-DMA. Daily tech studies remain muted while Euro-dollar fails to close above the 21-day moving average and remains below the resistance line from the Sept high. Focus turns to support and we see the 200-day moving average as initial support at $1.2826, a close below this level would suggest bears have regained control.
RES 4: $1.3087 Upper Bollinger Band
RES 3: $1.3072 High Oct 5
RES 2: $1.3029 Resistance from Sept 17
RES 1: $1.2992 High Oct 12
LATEST PRICE: $1.2904
SUP 1: $1.2826 200-day moving average, Low Oct 11
SUP 2: $1.2803/11 Low 1 Oct, Lower Bollinger band
SUP 3: $1.2782 Support line from July
SUP 4: $1.2741 38.2% retracement of Jul/Sep rally
GBP/USD: Capped By 38.2% Fibonacci Of $1.6309-1.5977. The pair appeared to find resistance to cap its upward progress around $1.6104, the 38.2% Retracement of $1.6309-1.5977 and has since turned lower to test support levels. Daily tech studies lend little direction and we see initial support as the lower Bollinger band and October low at $1.5977/78. The daily Bollinger band widens further to the downside, indicating increased volatility, possibly lower.
RES 4: $1.6194 Resistance line from Sep 21
RES 3: $1.6143 50.0% Fibonacci of $1.6309-1.5977, 21-DMA
RES 2: $1.6097/6104 High Oct 12, 38.2% Fibonacci of $1.6309-1.5977
RES 1: $1.6055/64 23.6% of $1.6309-1.5977, Frmer 23.6% of $1.5269-1.6309
LATEST PRICE: $1.6040
SUP 1: $1.5977/78 Lows 9 & 10 Oct, Lower 21-day Bollinger band
SUP 2: $1.5960/67 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
SUP 3: $1.5933 55-day moving average
SUP 4: $1.5912 38.2% of $1.5269-$1.6309 move & High Aug 23
USD/JPY: Ichimoku Cloud Base In-Sight. Daily tech studies are neutral as Dollar-yen recovers to below the Ichimoku cloud base, now intial resistance at Y78.68 alongside the 100-DMA and Oct 5 high at Y78.76 and Y78.87, respectively. A break into the Ichimoku cloud targets a Jun resistance line at Y78.81 followed by the cloud top at Y79.01.
RES 4: Y79.38 200-day moving average
RES 3: Y79.22 High Sep 19
RES 2: Y79.01 Top of Ichimoku cloud
RES 1: Y78.68/76/87 Base of Ichimoku cloud, 100-DMA, High 5 Oct
LATEST PRICE: Y78.58
SUP 1: Y78.18/25 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: Euro-yen Turned Lower By 200-DMA. EUR/JPY capped by the 200-day moving average, initial resistance at Y101.83, while daily tech studies lack direction. Euro-yen remains bullish while in the rising channel and above the Ichimoku cloud, however bears may target the channel base at Y100.38.
RES 4: Y103.42
RES 3: Y103.08 Resistance line from April
RES 2: Y102.80 High Oct 5
RES 1: Y101.83 200-day moving average
LATEST PRICE: Y101.36
SUP 1: Y100.78 23.6% Fibonacci of Y102.80-100.16
SUP 2: Y100.38 Rising Jul Channel base
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