EUR/USD: Bulls Eye Sept 17 Reversal High. The pair fades before reaching the Sept 17 high of $1.3144 as daily tech studies turn lower. Focus now turns to support as the pair also slips below the Nov 21 support line, a close below will encourage bears. Initial support now seen as the 55-DMA at $1.2918 and below here we see support from the 21-DMA at $1.2884. Initial resistance remains as the upper daily Bollinger band at $1.3144.
RES 4: $1.3386 High Mar 27
RES 3: $1.3284 High May 1
RES 2: $1.3172 High Sept 17
RES 1: $1.3144 Upper Bollinger Band
LATEST PRICE: $1.3055
SUP 1: $1.2918 55-day moving average
SUP 2: $1.2884 21-day moving average
SUP 3: $1.2789/94 200-day moving average, Jul 24 support line
SUP 4: $1.2735 100-day moving average
GBP/USD: 61.8% Fibo Is Key Initial Resistance, Focus Turns Lower. GBP fails to close above the 61.8% Fibonacci level, initial resistance at $1.6126 alongside the daily Bollinger band top at $1.6141. The pair posted a doji yesterday and before that what looks like a shooting-star candle. Bears will take notice, as daily tech studies slow, and focus turns to support, initial support seen at $1.6044 and $1.6078, the 55 and 5-day moving averages, respectively.
RES 4: $1.6309 2012 high Sep 21
RES 3: $1.6218 High 5 Oct
RES 2: $1.6175/78/96 High Nov 1, High Oct 17, 76.4% of $1.6309-1.5829
RES 1: $1.6126/41 61.8% of $1.6309-1.5829, Daily Bollinger band top
LATEST PRICE: $1.6089
SUP 1: $1.6044/78 55 and 5-day moving averages
SUP 2: $1.6012 Former 38.2% of $1.6309 to $1.5829
SUP 3: $1.5975/78 21-day moving average, High 22 Nov
SUP 4: $1.5940/54 100-day moving average, 100-week moving average
USD/JPY: 10-Day Momentum Shows Negative Divergence. 10-day momentum shows major negative divergence, however weekly tech studies remain bullish. Dollar-yen trades in a descending triangle, the top is initial resistance at Y82.69 and the base at Y81.74 which bears are seen to target. Ahead of this, initial support stems from the Tenkan Line at Y82.22. Bulls will aim to break above the descending triangle and target the Nov 22 high at Y82.84.
RES 4: Y83.30 High 2 Apr
RES 3: Y83.14 Resistance line from 6 Apr, 2011
RES 2: Y82.84/85/94 High Nov 22, 38.2% of Y94.99 to Y75.35, High 4 Apr
RES 1: Y82.69 Nov 22 resistance line
LATEST PRICE: Y82.47
SUP 1: Y82.22 Tenkan Line
SUP 2: Y81.74/76/95 Nov 28 supp line, High 20 Nov, 23.6% of Y79.08-82.84
SUP 3: Y81.48 21-day moving average
SUP 4: Y80.96 Kijun Line
EUR/JPY: 10-Day Momentum Shows Strong Negative Divergence. EUR/JPY makes another new high while 10-day momentum continues to show strong negative divergence, slow stochastics remains in overbought levels. Initial support now seen as the Tenkan Line, weekly Ichimoku cloud top and 100-week MA at Y106.47, Y106.67 & Y106.75, respectively. Further support seen from the 23.6% of Y100.33 to Y107.96 at Y106.16. Initial res seen at Y107.96/108, the Dec 5 and Apr 20 highs.
RES 4: Y115.47 123.6% of Y111.42 to Y94.28
RES 3: Y115.13 200-week moving average
RES 2: Y111.44 High Mar 21
RES 1: Y107.96/108.00 High Dec 5, High Apr 20
LATEST PRICE: Y107.62
SUP 1: Y106.47/67/75 Tenkan Line, Weekly Ichimoku Cloud top, 100-week MA
SUP 2: Y106.16 23.6% Fibonacci of Y100.33 to Y107.96
SUP 3: Y104.98/105.05 21-DMA, 38.2% of Y100.33 to Y107.96
SUP 4: Y104.15 50.0% of Y100.33 to Y107.96
EasyForexNews Research Team