EUR/USD: Bears In Control And Trades Beneath 200-DMA. The pair tests the limit of the lower daily Bollinger band, initial support at $1.2781 while daily tech studies remain bearish. Although, slow stochastics now enters oversold territory. The pair now trades beneath the 200-DMA, initial resistance at $1.2828, bulls may try and test this level once more, but bears control and focus remains to the downside. Further support at $1.2741, the 38.2% level.
RES 4: $1.2949 21-day moving average
RES 3: $1.2906 Former 23.6% Fibonacci of $1.2043-1.3172
RES 2: $1.2862/64 55-day moving average, 5-day moving average
RES 1: $1.2826/28 Low Oct 11, 200-DMA
LATEST PRICE: $1.2786
SUP 1: $1.2780 Lower daily Bollinger band
SUP 2: $1.2741 38.2% retracement of Jul/Sep rally
SUP 3: $1.2608/33 50.0% Retracement of Jul/Sep rally, 100-DMA
SUP 4: $1.2474 61.8% Retracement of Jul/Sep rally
GBP/USD: Bears Eye Jun 1 Rising Support Line. GBP posts a couple of dark candles as it fell through support on Friday despite a bullish crossover of the 100-DMA moving above the 200-DMA early last week. Daily studies remain fairly bearish though, we see initial support at $1.5967, the 38.2% Fibonacci of the Jun to Sep rally. A support trendline from Jun 1 lies at $1.5829 and bears may target a move to there.
RES 4: $1.6094 Former Sep 21 falling trendline
RES 3: $1.6064 Frmer 23.6% of $1.5269-1.6309
RES 2: $1.6049/52 55 & 5-day moving average, 21-day moving average
RES 1: $1.5997 Lows 9 & 10 Oct
LATEST PRICE: $1.5988
SUP 1: $1.5967 38.2% Jun/Sep, 61.8% of 28 Aug rally
SUP 2: $1.5943 Lower Bolli band
SUP 3: $1.5912 38.2% of $1.5269-$1.6309 move & High Aug 23
SUP 4: $1.5901 50% of Aug/Sep rally
USD/JPY: Bearish Inside Day/Harami Candle Pattern. USD/JPY falls back from the bearish inside-day/harami candle pattern with an almost shooting-star candle on Friday. Daily tech studies are firmly bearish and we see the pair moving back towards the 200-DMA, support at Y79.60. Ahead of that, initial support seen around the session low, the Tenkan line lies at Y79.92 and the August high forms support at Y79.66.
RES 4: Y81.49 61.8% Fibonacci of Mar/Sep decline
RES 3: Y80.97 Low Apr 23
RES 2: Y80.55/62/68 Highs May 15, Jun 25, Nov 2
RES 1: Y80.34/38 Oct 25 and Oct 26 highs
LATEST PRICE: Y80.05
SUP 1: Y79.92/98/80.00 23.6% Fib Sep-Nov rally, Tenkan Line, High Oct 23
SUP 2: Y79.66 August high
SUP 3: Y79.42/44/50/60 21-DMA, 38.2% Sep-Oct rally, Low Oct 26, 200-DMA
SUP 4: Y79.22/28/32 High Sep 19, Low Oct 30, Kijun line
EUR/JPY: Bears Target Ichimoku Cloud, Rising Channel Base Key. EUR/JPY continues to slide, it found support yesterday from the former Sep 17 falling resistance line, but has broken this support level today. Initial support now seen at Y102.10/14, the rising channel lower and the 200-DMA. Further support seen as the 55-DMA at Y101.26. The pair has been bearish since the Oct 23 ngulfing pattern and bears may try and break below the rising channel to the Ichimoku cloud.
RES 4: Y104.59 Oct 23 monthly high
RES 3: Y103.87/94/99 High Sep 17, High Oct 31, High Nov 1
RES 2: Y103.31 Tenkan Line
RES 1: Y102.85 21-day moving average
LATEST PRICE: Y102.43
SUP 1: Y102.10/14 Rising Jul Channel base, 200-day movng average
SUP 2: Y101.26 55-day moving average
SUP 3: Y100.95 Ichimoku Coud top
SUP 4: Y99.63 100-day moving average
EasyForexNews Research Team