EUR/USD: Potential Mthly Stochastic Sell-Signal, Holds Below 200-DMA. The pair holds below 200-DMA as it tests the Mar lows and lower dly Bolli band, initial supp at $1.2822/29/30, the lower dly Bolli and lows Mar 26, 25. Dly studies a little bearish, wkly studies slide and mthly studies show the potential for a reversal lower. Bears eye a move to the 200-month MA at $1.2049, ahead of here supp at $1.2704/36, 2.00% MA env lower and Nov 21 low. Key initial res at $1.2882/83/89, Mar 18 low, 200-DMA & 50.0% level and 5-DMA.
RES 4: $1.3037 23.6% of $1.3711-1.2829
RES 3: $1.2986 21-DMA
RES 2: $1.2946/55/65/67 Redrawn Res line from Feb 1, Lows Mar 8, 6, Low Mar 1
RES 1: $1.2882/83/89 Low Mar 18, 200-DMA & 50.0% $1.2043-1.3711, 5-DMA
Latest price: $1.2842
SUP 1: $1.2822/29/30 Lower daily Bolli band, Lows Mar 26, 25
SUP 2: $1.2704/36 2.00% MA envelope lower, Low Nov 21
SUP 3: $1.2662/80 Nov 13 reversal low, 61.8% of $1.2043-1.3711
SUP 4: $1.2574 3.00% MA envelope
GBP/USD: Holds Below Jan 2 Res Line At $1.5190, Studies Weaker. The cross still holds below the Jan 2 res line while dly studies become weaker and dly slow stochastic suggests a potential reversal lower. Continued failure to break above the Jan 2 res line should see studies decline and the pair return to test $1.4832, the Mar 12 reversal low. Ahead of here, supp at $1.5143, Mar 25 low, and $1.5081, the 21-DMA. However, wkly studies just turned higher and initial res at $1.5190/98/99, Jan 2 res line, 23.6% and Mar 5 high.
RES 4: $1.5424/59 38.2% $1.6381-1.4832, 55-DMA
RES 3: $1.5321/28 High Feb 22, Reversal low 22 Sept 2011
RES 2: $1.5269/70/73 High Mar 25, Upper dly Bolli , 50.0% $1.3503-1.7043
RES 1: $1.5190/98/99 Jan 2 res line, 23.6% of $1.6831-1.4832, High Mar 5
Latest price: $1.5154
SUP 1: $1.5143 Low Mar 25
SUP 2: $1.5081 21-DMA
SUP 3: $1.5027 Low Mar 20
SUP 4: $1.4982/86/91 High Mar 13, Low Mar 1, Lower daily Bolli Band
USD/JPY: Bounces From Kijun, Daily Studies Slow Descent. The USD holds above the Kijun line which it hasn’t closed below since early Oct 2012, a key supp level still at Y93.79. Daily studies look likely to turn higher and price action today already tests initial res, seen at Y94.90/96/99, the Tenkan line, Mar 25 high and May 2010 reversal high. Monthly studies rise and further res at Y96.11/13, Mar 21 and 20 highs. Weekly studies decline and initial supp at Y93.73/79/99, Mar 4 high, Kijun line and 38.2%.
RES 4: Y97.23 2.00% upper MA envelope
RES 3: Y96.71 Mar 12 high
RES 2: Y96.11/13 Mar 21 high, Mar 20 high
RES 1: Y94.90/96/99 Tenkan line, May 2010 reversal high
Latest price: Y94.74
SUP 1: Y93.73/79/99 High Mar 4, Kijun line, 38.2% of Y124.14-75.35
SUP 2: Y93.41/53/58 38.2% of Y88.06-96.71, Mar 25 low, Jan 23 support line
SUP 3: Y92.22/38/80 Ichimoku cloud top, 50.0% of Y88.06-96.71, 55-DMA
SUP 4: Y92.09 23.6% of Y77.13-96.71
EUR/JPY: Recovers Despite Bearish Dly Studies. EUR/JPY ignores daily studies to recover from the Mar 25 low, initial supp at Y120.08. The pair remains below a key res level, seen at Y122.39/58/72, the Kijun line, 23.6% of Y105.98-127.71 and the 55-DMA, key initial res. Above here, res seen at Y122.93/123.00/09, the Tenkan line, 21-DMA and 38.2% of Y169.96-94.12. Strong res seen at these two levels, if Euro-yen manages to close above we should see the pair return to a bullish trend.
RES 4: Y124.13/39/54 High Mar 19, Low Mar 12, 11
RES 3: Y123.51/85 Daily Ichimoku cloud top, High Mar 25
RES 2: Y122.93/123.00/09 Tenkan line, 21-DMA, 38.2% of Y169.96-Y94.12,
RES 1: Y122.39/58/72 Kijun line, 23.6% Y105.98-127.71, 55-DMA
Latest price: Y121.27
SUP 1: Y120.08/13/16 Low Mar 25, Highs Jan 14, 22
SUP 2: Y119.78/87 23.6% of Y94.12-127.71, 3.00% lower MA envelope
SUP 3: Y119.41 38.2% of Y105.98-127.71
SUP 4: Y118.73 Low Feb 25
EasyForexNews Research Team