EUR/USD extends its losses to close below the Nov 2012 support line but held above the Apr 4 reversal low at $1.2746, still key support and now joined by yesterday’s low at $1.2755. Below here is the daily Bolli base at $1.2699. However, daily studies are still stretched, oversold and 10-day momentum still shows positive divergence, bears look to retest initial supp but failure to break below could see bulls take control, initial res is around $1.2800.
R 4: $1.2923-43 Low Jul 3, Jul 2012 Supp line, 55-wk MA
R 3: $1.2877/83 50.0% of $1.2043-1.3711, Low Jul 4
R 2: $1.2835 5-DMA
R 1: $1.2797/2803/04 Reversal low May 17, Supp line Nov 2012, low Oct 2012
Latets price: $1.2785
S 1: $1.2746/55 Reversal low Apr 4, Low Jul 9
S 2: $1.2699 Daily Bollinger band base
S 3: $1.2680 61.8% of $1.2043-1.3711
S 4: $1.2662 Nov 2012 reversal low
GBP/USD pushed lower and left an outside day while testing a new low of $1.4814, the lowest it has been since Jul 2010. Daily studies still stretching to the downside but weekly/monthly studies are bearish. Further support is now seen at $1.4810/14, the weekly Bolli base and yesterday’s low. However, failure to retest this level could leave a double-bottom reversal pattern and allow bulls to regain some of the recent losses. Initial res at $1.4930, the 5-DMA.
R 4: $1.5035/49 23.6% of $1.5732-1.4814
R 3: $1.5009 Low May 29
R 2: $1.4966/81 Highs Jul 8, 9
R 1: $1.4930 5-DMA
Latets price: $1.4895
S 1: $1.4832/45/55 Reversal low Mar 12th, Hourly low
S 2: $1.4810/14 Weekly Bollinger band base, Low Jul 9
S 3: $1.4766/84 Daily Bollinger band base, Low week of Mar 1st 2010
S 4: $1.4662 High week ending Feb 27th 2009
USD/JPY already breaking back into the daily Ichimoku cloud but has been pushed back above for now. Daily studies look overbought and are about to reverse, monthly studies are not far behind but weekly studies are a little bullish. Bears now eye within the cloud and initial supp is now at Y99.90/93/94/95, the Apr 22 high, daily Tenkan, 61.8% of Y103.74-93.79 and Apr 11 high. Next support is at Y99.19/37, the 23.6% of Y93.79-100.86 and 55-DMA.
R 4: Y103.74/78 Reversal high May 22, Reversal low June 2012
R 3: Y102.32/45/76/89 Monthly Bollinger band top, Highs May 15, 21
R 2: Y102.08 Low May 21
R 1: Y101.45/53 Reversal high Apr 2009, High Jul 8
Latets price: Y100.45
S 1: Y99.90/93/94/95 High Apr 22, Dly Tenkan, High Apr 11
S 2: Y99.19/37 23.6% of Y93.79-100.86, 55-DMA
S 3: Y98.57/76/87 Weekly Tenkan & 50%, Low Jun 3
S 4: Y98.15-24 Ichimoku cloud base, 21-DMA, High Jun 26
EUR/JPY moves lower towards the rising channel base and already slipped below the 200-month MA although currently holds above. The pair also tested support around Y128.19, the 38.2% of Y119.11-133.80 and the daily Kijun line, part of initial support. Below here, further supp is at Y127.31/51, the 100-DMA and 21-week MA. Daily studies have reversed to the downside, weekly studies are bearish and monthly studies are overbought.
R 4: Y132.04/08 50.0% of Y169.96-Y94.12, May 31 high
R 3: Y130.85/96/131.12 Daily Ichimoku & Bolli cloud top, High Apr 11
R 2: Y130.33 23.6% of Y119.11-133.80
R 1: Y129.65/68/70 Daily Tenkan line, 55-DMA, High Jun 21
Latest price: Y128.45
S 1: Y128.08/12/19 Highs Jun 18, 14, Daily Kijun line
S 2: Y127.31/51 100-DMA, 21-week MA
S 3: Y126.46 50.0% of Y119.11-133.80 & Daily Ichimoku cloud base
S 4: Y126.04/18 Reversal high Mar 12 & Daily Bolli base, Jun 7 reversal low