EUR/USD: Key Initial Res At $1.3200/02. The pair breaks above the 38.2% at $1.3115 to hit a high of $1.3186, just above the 100-DMA but still below the key April 16 and 17 highs and also the daily Bolli top, now initial res at $1.3200/02. A break above here would extend gains up to the 50.0% level at $1.3228, especially as daily and weekly studies are bullish. If pair reaches the February highs at $1.3711 we may see the pair extend even further to a monthly res line at $1.4165.
RES 4: $1.3341 61.8% of $1.3711 to $1.2743
RES 3: $1.3308 Reversal high Dec 19
RES 2: $1.3220/27 100-week MA, 50.0% of $1.3711 to $1.2743
RES 1: $1.3200/02 Daily Bollinger top & Apr 17 high, Apr 16 high
Latest price: $1.3162
SUP 1: $1.3115/16/17 38.2% of $1.3711-1.2743, Apr 29, 22 highs
SUP 2: $1.3094 5-day moving average
SUP 3: $1.3041/50 55-DMA, 21-DMA
SUP 4: $1.3030 Apr 4 support line
GBP/USD: Still Testing Daily Bolli Band Top – $1.5546. The cross continues to trade at the top of the daily Bolli band and just below the channel top from the Mar 12 low, also just under the 100- DMA. Initial res at $1.5546/61/70, the upper daily Bolli, 100-DMA and 21-week MA. Further res at $1.5590/5606, the channel top and 50.0% $1.6381-1.4832. Dly studies still rising, but beginning to suggest overbought. Bears may attempt to recover some gains, initial supp at $1.5457/73/95, the 5-month MA, Apr 29 low and 5-DMA.
RES 4: $1.5761/62/78 55-week MA, 200-DMA, 21-month MA
RES 3: $1.5733/43 55-month MA, Mthly Trendline Jan 2009
RES 2: $1.5590/5606 Channel top from Mar 12, 50.0% of $1.6381-1.4832
RES 1: $1.5546/61/70 Upper daily Bollinger band, 100-DMA, 21-week MA
Latest price: $1.5534
SUP 1: $1.5457/73/95 5-month MA, Apr 29 low, 5-DMA
SUP 2: $1.5424 38.2% of $1.6381-1.4832
SUP 3: $1.5374 5-week MA
SUP 4: $1.5334 21-day moving average
USD/JPY: Holds Above 38.2% At Y97.13. Dollar continues to slide, last session ended lower after testing resistance and support while daily studies trend lower. Initial support now at Y97.01, the Apr 30 low, a break below here could see bears test the Jan 23 supp line, part of further supp at Y96.64. However, failure to move lower may target initial res, still at Y98.16/19/21/46, these being the 21-DMA, 38.2% of Y135.15-75.35, 23.6% of Y92.57-99.95 and daily Tenkan line.
RES 4: Y100.19 Monthly Ichimoku cloud top
RES 3: Y99.90/95 Apr 22 high, Apr 11 high
RES 2: Y99.40 1.00% upper MA envelope
RES 1: Y98.16/19/21/46 21-DMA, 38.2% Y135.15-75.35, 23.6% Y92.57-99.95, Tenkan
Latest price: Y97.29
SUP 1: Y97.01 Low Apr 30
SUP 2: Y96.44/64/71 2.00% MA envelope base, Jan 23 support line, Mar 12 high
SUP 3: Y96.26 Kijun line & 50.0% of Y92.57-99.95
SUP 4: Y95.69/80 55-DMA, Apr 16 low
EUR/JPY: Below 200-Mth MA & Back Within Mthly Bolli. The cross leaving a couple of significant lower-shadows as the pair attempt to follow dly studies lower but end higher. Initial supp now at Y127.06/21/38, lows of Apr 29, 30 and the 1% MA envelope base. Monthly chart now shows euro-yen is back below the 200-month MA and also back within the mthly Bolli band, with the top part of key initial resistance, at Y128.55/59/70/88 -the 200-mth MA, Apr 29 high, upper mthly Bolli and dly Tenkan.
RES 4: Y131.12/24 Apr 11 high, 2.00% MA envelope top
RES 3: Y130.70 Apr 22 high
RES 2: Y129.91/96 High Apr 25, 1.00% MA envelope top
RES 1: Y128.55/59/70/88 200-mth MA, Apr 29 high, Upper mthly Bolli, Dly Tenkan
Latest price: Y128.19
SUP 1: Y127.06/21/38 Apr 29 low, Apr 30 low, 1.00% MA envelope base
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