EUR/USD: Trades Near Upper Boll Band – Studies Bullish. The pair squeezes higher and above the key $1.2917 level, which is the 50.0% of the decline from $1.3172 to $1.2662. Daily studies continue to point higher, however are nearing overbought levels. Next resistance seen at $1.2986, the upper daily Bollinger band. Above here, resistance seen at $1.3021/23, the highs of Oct 31 and Oct 25.
RES 4: $1.3152 38.2% of 1.4940-1.2047
RES 3: $1.3092 Trendline from Sep 17 high
RES 2: $1.3021/23 Highs Oct 31, Oct 25
RES 1: $1.2986 Upper Bollinger Band
LATEST PRICE: $1.2954
SUP 1: $1.2915/2917 55-day moving average, 50.0% of $1.3172-$1.2662
SUP 2: $1.2906 Former 23.6% of $1.2043-1.3172
SUP 3: $1.2821 21-day movin average
SUP 4: $1.2801 200-day moving average
GBP/USD: Breaks Above 21-DMA, Bulls Eye 55-DMA At $1.6063. GBP breaks above the 21-day moving average and moves up to below the 55-day moving average, now initial resistance at $1.6043/63/67, alongside the Nov 7 high and 50.0% of the fall from $1.6309 to $1.5829. Daily studies remain bullish and below overbought levels. Bulls may try for a retest of the channel top at $1.6097.
RES 4: $1.6175/78 High Nov 1, High Oct 17
RES 3: $1.6129/35 Upper Bollinger band, High 2 Nov
RES 2: $1.6097 Resistance line from 21 Sep
RES 1: $1.6043/63/67 High 7 Nov, 55-DMA, 50.0% of $1.6309-$1.5829
LATEST PRICE: $1.6020
SUP 1: $1.6012 38.2% of $1.6309 to $1.5829
SUP 2: $1.5966/78 21-day moving average, High 22 Nov
SUP 3: $1.5904 50.0% of $1.5829-$1.5978
SUP 4: $1.5829/57 Low 15 Nov, 200-day moving average
USD/JPY: Daily Studies Turning Bearish. Dollar-yen continues to fade from its Nov 22 high at Y82.83, bulls tested the Y82.85 level, the 38.2% of Y94.99 to Y75.35, leaving scope for a pullback. Daily studies are turning bearish whil in overbought territory. Support seen at Y81.76, the Nov 20 high, followed by support at Y80.57 and then Y80.96, the former being the 21-DMA and the latter the Kijun line.
RES 4: Y83.94 High 16 Mar
RES 3: Y83.30 High 2 Apr
RES 2: Y83.15 Resistance line from 6 Apr, 2011
RES 1: Y82.85/94 38.2% of Y94.99 to Y75.35, High 4 Apr
LATEST PRICE: Y82.12
SUP 1: Y81.76 High 20 Nov
SUP 2: Y80.57/68 21-day moving average, High 2 Nov
SUP 3: Y80.96 Kijun Line
SUP 4: Y80.55/62/68 Highs May 15, Jun 25, Nov 2
EUR/JPY: Capped Below L-T Res Line/Weekly Ichimoku Cloud Top. Cross last week failed ahead of long-term resistance line from Oct 2009, and is today valued at 106.59. Above here, the weekly Ichimoku cloud top is value at Y106.75. Whilst these levels cap, a correction lower can’t be ruled out. Initial support is at Y105.45/72 and nothing really significant until Kijun/Tenkan line at Y103.46.
RES 4: Y108.73 50.0% of Y123.33 to Y94.12
RES 3: Y108.03 High 20 Apr
RES 2: Y107.35 76.4% of Mar-July decline
RES 1: Y106.59/75 Res line from Oct 2009, Weekly Ichimoku cloud top
LATEST PRICE: Y106.41
SUP 1: Y105.45/72 5-day moving average, Low 22 Nov
SUP 2: Y104.59 High 23 Oct
SUP 3: Y103.69 Low 20 Nov
SUP 4: Y103.46 Kijun & Tenkan line of Ichimoku cloud
EasyForexNews Research Team