EUR/USD: Bears Eye $1.2840 As Daily & Weekly Studies Slide. The pair continues to correct lower, making lower lows and lower highs as daily studies also slide. Current price action is struggling to move below the 21-DMA and bears eye the next support level at $1.2840, the 61.8% Fibonacci of $1.2662 to $1.3127. Weekly tech studies are looking more bearish now and further support seen at $1.2809, the Jul 24 supp line. A close below here will enourage bears.
RES 4: $1.3172 High Sept 17
RES 3: $1.3127/3130 Reversal High Dec 5, Upper Bollinger Band
RES 2: $1.2991 5-day moving average
RES 1: $1.2949 38.2% Fibonacci of $1.2662 to $1.3127
LATEST PRICE: $1.2893
SUP 1: $1.2840 61.8% Fibonacci of $1.2662 to $1.3127
SUP 2: $1.2809 Jul 24 support line
SUP 3: $1.2785 200-day moving average
SUP 4: $1.2749/2772 100-DMA, 76.4% Fibonacci of $1.2662 to $1.3127
GBP/USD: Bears Aim To Close Below 38.2% Support Level At $1.6016. Daily tech studies continue to slide further as Cable also corrects, but failed to close below the 38.2% Fibonacci level, key initial support at $1.6016. A close below this level will further open up the downside to bears, our next support level lies around $1.5944 to $1.5955, these being the 61.8% of $1.5829/1.6131, 100-DMA and 100-week MA. Initial resistance seen as the 5-DMA at $1.6069.
RES 4: $1.6218 High 5 Oct
RES 3: $1.6175/78/96 High Nov 1, High Oct 17, 76.4% of $1.6309-1.5829
RES 2: $1.6126/31/43 61.8% of $1.6309-1.5829, High Dec 4, Boll band top
RES 1: $1.6069 5-day moving average
LATEST PRICE: $1.6021
SUP 1: $1.6016 38.2% of $1.5829 to $1.6131
SUP 2: $1.5978/80/81 High 22 Nov, 50.0% of $1.5829 to $1.6131, 21-DMA
SUP 3: $1.5944/49/55 61.8% of $1.5829 to $1.6131, 100-DMA, 100-week MA
SUP 4: $1.5900 76.4% of $1.5829 to $1.6131
USD/JPY: Bulls Look To Close Above Nov 22 High At Y82.84. USD/JPY remains in the descending triangle, the top still initial resistance now at Y82.68 and the base forms support around Y81.74. Daily tech studies turn neutral and we note a golden-cross of the 55 and 200-DMAs. Initial supp is the Tenkan line at Y82.22, which the pair tested yesterday but failed to break below. The weekly chart shows stretched bullish tech studies.
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: Y82.68 Nov 22 resistance line
LATEST PRICE: Y82.39
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: Y81.40/62 38.2% of Y79.08-82.84, 21-day moving average
SUP 4: Y80.96 Kijun Line
EUR/JPY: Key Initial Support At Y106.16, The 23.6% Fibonacci. The pair continues to slide following the bearish engulfing candle pattern, daily and weekly studies also slide and the 23.6% of Y100.33 to Y107.96 is key initial support at Y106.16, which last session’s price action failed to break below. Further support seen at Y105.46, the 21-DMA. Bulls will try and break initial resistance, seen at Y106.62/Y106.69, the Tenkan line, weekly cloud top and 100-week MA.
RES 4: Y115.06 200-week moving average
RES 3: Y111.44 High Mar 21
RES 2: Y107.96/108.00 High Dec 5, High Apr 20
RES 1: Y106.62/67/69 Tenkan Line, Weekly Ichimoku Cloud top, 100-week MA
LATEST PRICE: Y106.37
SUP 1: Y106.16 23.6% Fibonacci of Y100.33 to Y107.96
SUP 2: Y105.46 21-day moving average
SUP 3: Y105.05 38.2% of Y100.33 to Y107.96
SUP 4: Y104.15 Kijun Line, 50.0% of Y100.33 to Y107.96
EasyForexNews Research Team