EUR/USD: The pair squeezes higher once more, following daily, weekly and monthly studies higher. Daily studies are beginning to look overbought and 10-day momentum has dipped lower which adds a little risk of some consolidation, initial supp at $1.3317/18, but in the longer-term we see bulls looking to test the 100 and 55-month MAs at $1.3439 and $1.3483, respectively, which held eur-dol’s advance in 2012. Ahead of here, initial res at $1.3388, the daily Bolli top.
R 4: $1.3520/33 High Feb 13, Weekly Bollinger band top
R 3: $1.3483 55-month MA & 76.4% of $1.3711 to $1.2746
R 2: $1.3439/54/58 100-month MA, 200-week MA
R 1: $1.3388 Daily Bollinger band top
Latest price: $1.3350
S 1: $1.3317/18 High Jun 11
S 2: $1.3296 5-DMA
S 3: $1.3228/35 Former 50.0% of $1.3711-1.2743, 23.6% of $1.2797-1.3370
S 4: $1.3200 High Apr 17
GBP/USD: The cross still rises into the channel from Mar 12 but ran into the 200-DMA yesterday and has already capped the topside today, initial res at $1.5701. Break and close above the 200-DMA would be a strong bullish indicator and open the topside for further gains, however failure here could send the overbought dly studies lower and allow bears back in. Initial supp at $1.5606/27/28, the 50% of $1.6381-1.4832, 5-DMA and channel base from Mar 12.
R 4: $1.5845/55 High Feb 8, Weekly Bollinger band top
R 3: $1.5789/93/99 61.8% of $1.6381-1.4832, Channel Mid-line, 200-week MA
R 2: $1.5731/44 55-month MA, Upper daily Bollinger band
R 1: $1.5701 200-DMA & Hourly high
Latest price: $1.5680
S 1: $1.5606/27/28 50.0% of $1.6381-1.4832, 5-DMA
S 2: $1.5489/96 Low Jun 7, 23.6% of $1.4832-1.5701
S 3: $1.5424 38.2% of $1.6381-1.4832
S 4: $1.5332/34/69 100-DMA, 55-DMA
USD/JPY: The pair is collapsing further, now pushed below the daily Ichimoku cloud and daily Bollinger base – currently pressures the Feb 11 high at Y94.46. Initial support now at Y93.91/99, the 76.4% of Y90.88-103.74 and the 38.2% of Y75.35-124.14. Weekly studies are sharply lower and monthly studies are forming sell-signals in overbought levels. Further support around Y93.50 – 38.2% & weekly Kijun – and below here at Y92.57 – the Apr 2 reversal low.
R 4: Y97.58/83 Daily Tenkan line, Daily Ichimoku cloud top
R 3: Y97.31 50.0% of Y90.88-103.74
R 2: Y96.62 100-DMA
R 1: Y95.96 Ichimoku cloud base
Latest price: Y94.30
S 1: Y93.91/99 76.4% of Y90.88-103.74, former 38.2% of Y75.35-124.14
S 2: Y93.53/57/68 Mar 25 low, 38.2% of Y77.13-103.74, Weekly Kijun
S 3: Y92.57 Reversal low Apr 2
S 4: Y90.88 Reversal low Feb 25
EUR/JPY: The cross plummets below the daily Bollinger band and now falls into the daily Ichimoku cloud, the base now forms initial support at Y125.44. Weekly studies are sharply lower, monthly studies show the potential for a sell-signal in overbought territory and daily studies are turning lower once more. Further support at Y124.72, the 61.8% of Y119.11 -133.80 and below here is the 23.6% of Y94.12-133.80 and the Mar 20 reversal high at Y124.44/50
R 4: Y129.82/91/97 Daily Kijun line, Highs Apr 25 & May 2, Low May 23
R 3: Y129.05 55-DMA
R 2: Y128.46/59/63 200-month MA, Apr 29 high, Daily Tenkan line
R 1: Y128.19 38.2% of Y119.11-133.80
Latest price: Y126.10
S 1: Y125.44 Daily Ichimoku cloud base
S 2: Y124.72 61.8% of Y119.11-133.80
S 3: Y124.44/50 23.6% of Y94.12-133.80, Reversal High Mar 20
S 4: Y123.09/33 Former 38.2% of Y169.96-94.12, Reversal high Apr 2011