EUR/USD: Focus Turns Higher Towards May Resistance Line. The pair spikes higher, straight through the Sept 17 resistance line to challenge the upper Bollinger band. Focus now turns toward a resistance line drawn from May 1, at $1.3147, followed by the Sept 17 high at $1.3172. Daily studies are turning higher and daily Bollinger bands are widening.
RES 4: $1.3284 High May 1
RES 3: $1.3172 High Sept 17
RES 2: $1.3147 May 1 resistance line
RES 1: $1.3124 Hourly High
LATEST PRICE: $1.3089
SUP 1: $1.3015 Resistance from Sept 17
SUP 2: $1.2992/94 High Oct 12, 5-day moving average
SUP 3: $1.2950 21-day moving average
SUP 4: $1.2906 23.6% Fibonacci retracement of $1.2043-1.3172
GBP/USD: Bulls To Target Sep 21 Resistance Line. GBP capped ahead of the 50.0% Retracement level of Sept-Oct decline at $1.6143, initial resistance. Focus now turns to the Sep 21 resistance line and 61.8% Retracement at $1.6179/82. Daily tech studies point higher with 10-day momentum showing a buy-signal by crossing the zero-line.
RES 4: $1.6273/87 High Sep 28, Apr 2011 resistance line
RES 3: $1.6218 High 5 Oct
RES 2: $1.6179/82 Res line from Sep 21, 61.8% Fibo $1.6309-1.5977
RES 1: $1.6143 50.0% Fibonacci of $1.6309-1.5977
LATEST PRICE: $1.6123
SUP 1: $1.6097/6104 High Oct 12, 38.2% Fibonacci of $1.6309-1.5977
SUP 2: $1.6084 5-day moving average
SUP 3: $1.5977/84 Lows 9 & 10 Oct, Lower 21-day Bollinger band
SUP 4: $1.5960/67 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
USD/JPY: Fails To Break Through Ichimoku Cloud Top. USD/JPY fades from the Ichimoku cloud top and a possible dark-cloud cover candle pattern forming if the pair closes near the current level. Initial support seen around Y78.44/46/52, the 55-DMA, Tenkan line and Ichimoku cloud base. Daily tech studies are mixed, 10-day momentum turns lower yet still trends higher, slow stochastics is showing a little bull-divergence. Bulls look to the cloud base for supp.
RES 4: Y80.10 High Jul 5
RES 3: Y79.66 August high
RES 2: Y79.39 200-day moving average
RES 1: Y79.22 High Sep 19
LATEST PRICE: Y78.68
SUP 1: Y78.44/46/52 55-DMA, Tenkan line, Ichimoku Cloud Base
SUP 2: Y78.18/25 Support line from Sep 28, Kijun line, 21-DMA
SUP 3: Y77.98 61.8% of October recovery
SUP 4: Y77.44 Low Sep 28
EUR/JPY: Rising Channel Top Turns Euro-Yen Back. EUR/JPY spiked higher but the move was capped by the April resistance line, now at Y103.00, however, today’s price action already broke through this level to test the rising channel upper, now resistance at Y103.64. Current price action forming a shooting-star doji which would be a bearish candle pattern, however the session is far from
over. Daily tech studies trend higher as focus turns higher.
RES 4: Y108.00 High Apr 20
RES 3: Y103.86 High Sep 17
RES 2: Y103.64 Rising channel upper
RES 1: Y103.52 Hourly high
LATEST PRICE: Y102.98
SUP 1: Y101.88 200-day moving average
SUP 2: Y101.84 Tenkan line
SUP 3: Y101.71 Kijun line
SUP 4: Y101.34 21-day moving average
EasyForexNews Research Team