EUR/USD: Daily Studies Mixed, 38.2% Key Res At $1.3115. The pair rises through resistance to test the 38.2% of $1.3711-1.2743, now initial res at $1.3115. Daily studies a little mixed, slow stochastic does show a buy-signal but 10-day momentum dips lower, if pair fails to break above initial res we may see bears test support, initial supp at $1.3045/50, the 55 and 5-DMAs, followed by the Apr 4 sup line and 21-DMA at $1.3015/30. However, wkly studies rise and further res at $1.3159, the 100-DMA.
RES 4: $1.3219/27 100-week MA, 50.0% of $1.3711 to $1.2743
RES 3: $1.3192/3200/02 Daily Bollinger top, Apr 17 high, Apr 16 high
RES 2: $1.3150/59 Former 38.2% $1.4940-1.2043, 100-DMA
RES 1: $1.3115/16/17 38.2% of $1.3711-1.2743, Apr 29, 22 highs
Latest price: $1.3096
SUP 1: $1.3045/50 55-DMA, 5-DMA
SUP 2: $1.3015/30 Apr 4 support line, 21-DMA
SUP 3: $1.2974/89 23.6% of $1.3711 to $1.2746, Low Apr 25
SUP 4: $1.2955/59 Low Apr 24, 200-DMA
GBP/USD: Back Within Bolli, Bulls Eye Channel Top – $1.5578. The GBP left a little doji with a sizable upper-shadow, the pair now trades back within the daily Bollinger band which forms initial resistance at $1.5518, which bulls may look to pressure. Dly/wkly studies continue to rise but mthly studies still weak, if bulls can’t break above the mthly former trendline at $1.5700 we may see bears move to test the channel base at $1.5248. Initial supp at $1.5473, Apr 29 low, further supp $1.5424/33, former 38.2% and 5-DMA.
RES 4: $1.5700 Mthly Trendline Jan 2009
RES 3: $1.5606 50.0% of $1.6381-1.4832
RES 2: $1.5567/69/78/99 100-DMA, 21-week MA, Channel top from Mar 12, 5-month MA
RES 1: $1.5518 Upper daily Bollinger band
Latest price: $1.5489
SUP 1: $1.5473 Apr 29 low
SUP 2: $1.5424/33 38.2% of $1.6381-1.4832, 5-DMA
SUP 3: $1.5374 5-week MA
SUP 4: $1.5298/5311 Apr 23 high, 21-day moving average
USD/JPY: Slow Stochastic Slides, Bulls Test Initial Res. Dollar slips a little further while dly slow stochastic study accelerates to the downside, 10-day mom meanders around zero-line but mthly studies still bullish. Initial res at Y98.19/21/63, the 38.2% Y135.15-75.35, 23.6% Y92.57-99.95 and the dly Tenkan. Break above here would greatly encourage bulls back into an upward trend, but failure could send the pair lower. Initial supp at Y97.13/35/44, the 38.2% of Y92.57-99.95, low Apr 29 and 1% MA env base.
RES 4: Y100.58/62 2.00% upper MA envelope, Feb 11 res line
RES 3: Y100.19 Monthly Ichimoku cloud top
RES 2: Y99.60/90/95 1.00% upper MA envelope, Apr 22 high, Apr 11 high
RES 1: Y98.19/21/63 38.2% Y135.15-75.35, 23.6% of Y92.57-99.95, Dly Tenkan line
Latest price: Y97.94
SUP 1: Y97.13/35/44 38.2% of Y92.57-99.95, Low Apr 29, 1.00% MA envelope base
SUP 2: Y96.52/64/71 Jan 23 support line, 2.00% MA envelope base, Mar 12 high
SUP 3: Y96.26 Kijun line & 50.0% of Y92.57-99.95
SUP 4: Y95.63/80 55-DMA, Apr 16 low
EUR/JPY: Bulls Test Daily Tenkan – Key Res At Y128.88. The pair left a lower high and lower low, but ended the session a little higher. Yesterday, bulls met res from the daily Tenkan line, now at Y128.88, just above the Apr 29 high at Y128.59, both form initial res. Break above here could target the Apr 25 high and 1% MA env top at Y129.91/130.10, respectively. However, dly studies slip lower and failure at Tenkan may threaten initial supp at Y127.06/53/70, Apr 29 low, 1% MA env base and the 21-DMA.
RES 4: Y131.12/39 Apr 11 high, 2.00% MA envelope top
RES 3: Y130.70 Apr 22 high
RES 2: Y129.91/130.10 High Apr 25, 1.00% MA envelope top
RES 1: Y128.59/88 Apr 29 high, Daily Tenkan line
Latest price: Y128.26
SUP 1: Y127.06/53/70 Apr 29 low, 1.00% MA envelope base, 21-DMA
SUP 2: Y126.44/53 Low Apr 17, 38.2% of Y119.11 to Y131.12
SUP 3: Y126.04 High Mar 12
SUP 4: Y125.11/59 Wkly Tenkan line & 50.0% Y119.11-131.12, 76.4% Y127.71-118.73
EasyForexNews Research Team