EUR/USD: Bears Require Break Below 38.2% Fib To Maintain. Price action today trades just above the 38.2% Fibonacci, initial support alongside the daily bollinger band base, at $1.2723/41. Daily stuides remain bearish, although slow stochastics is in oversold territory and 10-day momentum is turning neutral. Further support seen at $1.2638, the 100-DMA, and initial resistance is seen at $1.2823/26, the 200-DMA and Oct 11 low. Bears need a break below 38.2% Fibonacci.
RES 4: $1.2931/38 21-day moving average, Resistane line from Oct 17
RES 3: $1.2906 Former 23.6% Fibonacci of $1.2043-1.3172
RES 2: $1.2875 55-day moving average
RES 1: $1.2823/26 200-DMA, Low Oct 11
LATEST PRICE: $1.2774
SUP 1: $1.2723/41 Lower daily Bollinger band, 38.2% of Jul/Sep rally
SUP 2: $1.2638 100-day moving average
SUP 3: $1.2608 50.0% Retracement of Jul/Sep rally
SUP 4: $1.2474 61.8% Retracement of Jul/Sep rally
GBP/USD: Doji Day May Encourage Bulls To Test Sep Trendline. GBP posts a doji yesterday with a long lower shadow, the pair met support around the lower daily Bollinger band and just above the 38.2% Retracement level. Daily tech studies are generally flat, although slow stochastics remains bearish. Cable remains in a downtrend since Sep, we see bulls eye the Sep 21 falling trendline at $1.6081 and bears require a break below $1.5912 to maintain their respective trends.
RES 4: $1.6175/78 High Nov 1, High Oct 17
RES 3: $1.6141/43/62 High Oct 26, High Oct 25, Upper Bollinger band
RES 2: $1.6081 Former Sep 21 falling trendline
RES 1: $1.6049/57/64 21-DMA, 55-DMA, Frmer 23.6% of $1.5269-1.6309
LATEST PRICE: $1.6018
SUP 1: $1.5936 100-week moving average, Lower daily Bollinger band
SUP 2: $1.5912 38.2% of $1.5269-$1.6309 move, High Aug 23, Low Oct 23
SUP 3: $1.5901 50% of Aug/Sep rally
SUP 4: $1.5844/51/67 Jun Rising Trendline, 200 & 100-DMAs
USD/JPY: Slides To Kijun Line Support At Y79.32. USD/JPY sinks further as daily studies also slide, the pair met support around the Kijun line, but now trades a little above the 38.2% Fibonacci of the recent rally, also initial support at Y79.44. Strong supp seen around Y79.22 to Y79.32, a few highs and lows and the Kijun line. This level also forms the base for a potential descending triangle. We remind that the future Ichimoku cloud shows a bull cross.
RES 4: Y80.25 Nov 2 resistance line
RES 3: Y79.92/98/80.00 23.6% Fib Sep-Nov rally, Tenkan Line, High Oct 23
RES 2: Y79.76/82 Nov 7 low, 38.2% Fibonacci of Mar-Sep decline
RES 1: Y79.64/66 21-DMA, 200-DMA & August high
LATEST PRICE: Y79.54
SUP 1: Y79.44 38.2% Fibonacci of Sep-Oct rally
SUP 2: Y79.22/28/32 High Sep 19, Low Oct 30, Kijun line & Nov 8 low
SUP 3: Y79.06 50.0% Fibonacci of Sep-Oct rally
SUP 4: Y78.79/86 55-DMA, 100-DMA
EUR/JPY: Sinks To Ichimoku Cloud Top, Key Support At Y101.07. EUR/JPY declined to find support just above the Ichimoku cloud top, now initial support with the Nov 8 low at Y101.03/07. Daily studies remain bearish and we see further support at Y100.59, the 38.2% Retracement of the Jul to Oct rally. The future Ichimoku cloud is trending higher and we remind of the bull cross in early Oct. Initial resistance seen at Y102.16, the 200-day moving average.
RES 4: Y103.87/94/99 High Sep 17, High Oct 31, High Nov 1
RES 3: Y102.98 21-day moving average
RES 2: Y102.38/42/51 Rising Jul Channel lower, Kijun line, Tenkan line
RES 1: Y102.16 200-day movng average
LATEST PRICE: Y101.63
SUP 1: Y101.03/07 Nov 8 low, Ichimoku Coud top
SUP 2: Y100.59 38.2% Fibonacci of Jul to Oct rally
SUP 3: Y99.54/55/64/66 Lows 11, 13, 27 Sep, 100-DMA
SUP 4: Y99.00 Ichimoku cloud base
EasyForexNews Research Team