EUR/USD: Dly Studies Turn Bearish, Wkly/Mthly Studies Rise. The pair posts long black candle falling 100 pips after failing to break above the Apr 16 high at $1.3202, now further key res. Initial res seen at $1.3083, the 5-DMA. Dly studies turn bearish as 10-day momentum breaks lower and slow stochastic shows a sell-signal. However, wkly studies show bullish signs as wkly stochastic leaves a buy-signal. Initial supp $1.3021/22, hourly low and Apr 15 low. Break below here targets $1.3002, yesterday’s low.
RES 4: $1.3192/3200/02 Daily Bollinger top, Apr 17 high, Apr 16 high
RES 3: $1.3150/56 Former 38.2% $1.4940-1.2043, 100-DMA
RES 2: $1.3109/12 55-DMA, 38.2% of $1.3711-1.2743
RES 1: $1.3083 5-day moving average
Latest price: $1.3042
SUP 1: $1.3021/22 Hourly low, Low Apr 15
SUP 2: $1.3002 Low Apr 17
SUP 3: $1.2959/65/67/74 21-DMA, Low Mar 6, Low Mar 1, 23.6% $1.3711-1.2746
SUP 4: $1.2926 200-DMA
GBP/USD: Daily Studies Turn Lower, Mar 12 Supp Line Key At $1.5153. The cross leaves a lower high and lower low, again, turning dly studies lower – 10-day mom looks likely to cross below the key zero-line, a bearish signal. Initial supp at $1.5198/5217/35, these being the 23.6% $1.6381-1.4832, Apr 17 low and Jan 2012 wkly low. A key supp line from the Mar 12 low lies at $1.5153, break below here threatens the lower dly Bolli at $1.5080. Bulls look to return to the Apr 11 high at $1.5412 to continue an upward trend
RES 4: $1.5485 Reversal low 28 Jun 2012
RES 3: $1.5402/12/24 Upper dly Bolli band, High Apr 11, 38.2% $1.6381-1.4832
RES 2: $1.5296 5-day moving average
RES 1: $1.5269/70/73 High Mar 25 & June 1 2012 low, 55-DMA, Apr 16 low
Latest price: $1.5242
SUP 1: $1.5198/5217/35 23.6% of $1.6381-1.4832, Low Apr 17, Weekly low Jan 2012
SUP 2: $1.5153 Support line from Mar 12 low
SUP 3: $1.5080 Lower daily Bollinger band
SUP 4: $1.5027/34 Low Mar 20, Low Apr 4
USD/JPY: Daily Studies Sharply Lower, Bears Eye Apr 16 Low. Dollar attempted to close above the former 23.6% at Y98.21, however ended below. Dly studies are bearish as 10-day momentum breaks lower and slow stochastic shows a sell-signal from overbought levels. Bears target a break below the 38.2% at Y97.13, key supp at Y96.24/26, the 21-DMA followed by the Kijun line and 50.0% of Y92.57-99.95. However, monthly studies still rise, if dol-yen holds above Y95.80, the Apr 16 low, we may see bulls return.
RES 4: Y99.88/95/100.19 3.00% MA env top, Apr 11 high, Mthly Ichimoku top
RES 3: Y99.74 Former resistance line from Feb 11
RES 2: Y98.91 2.00% upper MA envelope
RES 1: Y98.43 High Apr 17
Latest price: Y97.95
SUP 1: Y97.63 Hourly low
SUP 2: Y97.13 38.2% of Y92.57-99.95
SUP 3: Y96.24/26 21-DMA, Kijun line & 50.0% of Y92.57-99.95
SUP 4: Y95.80 Apr 16 low
EUR/JPY: Dly Studies Slide, Bears Look To Restest Wkly Tenkan. The pair leaves a spinning-top yesterday while daily studies turn lower, 10-day momentum sinks sharply. Initial support seen at Y126.39/44/53, these being an Apr 4 support line, the Apr 17 low and 38.2% of Y119.11-131.12. A break below here could target the weekly Tenkan line and Apr 16 low at Y124.93/94, just below the 50.0% level at Y125.11. Monthly studies remain bullish and initial res seen at Y128.54, the 2.00% MA envelope top.
RES 4: Y131.87/132.04 100-month MA, 50.0% of Y169.96-Y94.12
RES 3: Y131.06/12 4.00% MA envelope top, Apr 11 high
RES 2: Y129.74/80 High Apr 17, 3.00% MA envelope top
RES 1: Y128.54 2.00% MA envelope top
Latest price: Y127.70
SUP 1: Y126.39/44/53 Apr 4 support line, Low Apr 17, 38.2% of Y119.11-131.12
SUP 2: Y124.93/94/125.11 Wkly Tenkan line, Apr 16 low, 50.0% of Y119.11-131.12
SUP 3: Y124.16/29 Former Feb 6 res line – now supp, 55-DMA
SUP 4: Y123.70/85 61.8% of Y119.11 to Y131.12, High Mar 25
EasyForexNews Research Team