EUR/USD: Back Below 200-Day Moving Average. The pair is back below the 200-day moving average and more importantly trades below the 21-day moving average and 1-month resistance line at $1.2836/52, respectively. Needs to break above here to put bulls in control, otherwise, momentum is seen weakening and risk of another attempt towards $1.2662/64 support area.
RES 4: $1.2917 50.0% of $1.3172-$1.2662
RES 3: $1.2900 55-day moving average
RES 2: $1.2836/52 21-DMA, Resistance line from Oct 18
RES 1: $1.2806/20 200-day moving average, Low Nov 2, High Nov 19
LATEST PRICE: $1.2786
SUP 1: $1.2730 Low 19 Nov
SUP 2: $1.2695 76.4% of $1.2662 to $1.2802
SUP 3: $1.2662/64 Low 13 Nov, 21-Week moving average
SUP 4: $1.2633/52 Lower daily Bollinger band, 100-day moving average
GBP/USD: Decisive Close Above 200-Day Moving Average Seen. Decisive close above 200-day moving average along with recovery in daily studies from oversold territory — favours further scope. From here, resistance is at $1.5939/43, where the former is the 100-week moving average and latter the 23.6% of $1.6310 to $1.5829. Above here, there not much above here until the 21-DMA at $1.5986.
RES 4: $1.6116/35 Resistance line from 21 Sep, High 2 Nov
RES 3: $1.6043/60 High 7 Nov, 55-day moving average
RES 2: $1.5986 21-day moving average
RES 1: $1.5939/43 100-week moving average, 23.6% of $1.6310 to $1.5829
LATEST PRICE: $1.5913
SUP 1: $1.5829/52 Low 15 Nov, 200-day moving average
SUP 2: $1.5800/077 Lower daily Bollinger band, 55-week moving average
SUP 3: $1.5789/93 50.0% of Jun-Sep rally, High Jun 18
SUP 4: $1.5755/64 Low Aug 28, 200-week moving average
USD/JPY: Unconvincing Break Above Y81.49 Fibonacci Level. Failure to decisively break above Y81.49 Fibonacci level, 61.8% Retracement of Mar-Sep decline and continued bear-divergence signal on daily studies continues to caution longs. Support now seen at the 5-day moving average at Y81.09 and break below here is seen triggering correction. Resistance is at Y81.78/84.
RES 4: Y83.30 High 2 Apr
RES 3: Y82.94 High 4 Apr
RES 2: Y82.52 76.4% Retracement of Mar-Sep decline
RES 1: Y81.78/84 High Apr 20, 2% Moving Average Envelope
LATEST PRICE: Y81.29
SUP 1: Y81.09 5-day moving average
SUP 2: Y80.68 High 2 Nov
SUP 3: Y80.33 Tenkan Line
SUP 4: Y80.16 21-day moving average
EUR/JPY: Failure At Y104.33 Sets Up Potential Double-Day High. Failure at Y104.33 sets up a potential double-day high reversal as 10-day momentum begins to wane. That said, the recent break above trend line from April 2 is encouraging along with the recovery in stochastic study. Support is at the 5-day moving average at Y103.57 and Kijun line below at Y102.46. Dip lower can’t be ruled out, before rally.
RES 4: Y105.58 High 4 May
RES 3: Y104.82 61.8% Fibonacci of Mar-July decline
RES 2: Y104.59/63 Monthly high Oct 23, Recovery low 16 Apr
RES 1: Y104.33 Potential double-day high
LATEST PRICE: Y104.07
SUP 1: Y103.57 5-day moving average
SUP 2: Y102.46 Kijun line of Ichimoku cloud
SUP 3: Y102.33/18 Tenkan line, 200-day moving average
SUP 4: Y101.98 55-day moving average
EasyForexNews Research Team