EUR/USD pushed up to leave higher high and low however daly studies continue to descend and yesterday failed to break above $1.3300, initial res. Risk remains lower while pair remains below the Feb 2013 resistance line at $1.3315, break above could flip sentiment higher but bears eye 23.6% of $1.2755-1.3345, initial suppt at $1.3206. A break below could accelerate losses but suppt below is strong and close with the 21-DMA at $1.3168.
R 4: $1.3390-3417 High Jun 13, 200-wk MA, Daily Bolli top, Highs Jun 18, 19
R 3: $1.3342/45 High Jul 31
R 2: $1.3315/18/19 Resistance line from Feb 2013, High Jun 11, Low Jun 17
R 1: $1.3300/02/06/08 Highs Aug 5, Jul 30, Jun 6, Reversal high Dec 19
Latest price: $1.3254
S 1: $1.3228 50.0% of $1.3711-1.2746
S 2: $1.3200/05/06/07 High Apr 17, 5-wk MA, High Jul 11
S 3: $1.3168 21-DMA
S 4: $1.3100-21 High Jul 12, 55-DMA
GBP/USD rises again and may have reversed dly studies to the upside, we await the next session close to confirm. Bulls yesterday pushed up to just below 61.8% of $1.5752-1.4814, res at $1.5394. A retest of this level is likely and a break higher would then test the Jul 25 high at $1.5435 and above here is the daily Bolli top at $1.5496. However, failure to break above initial res could see a slide to suppt around $1.5300, the 55, 100-DMAs and 21-wk MA.
R 4: $1.5531/43 High Jun 21, 200-DMA
R 3: $1.5496 Daily Bollinger band top
R 2: $1.5424/35 High Jul 25
R 1: $1.5378/84/92/94 Highs Aug 5, Jul 22, 23
Latest price: $1.5339
S 1: $1.5297/5301/06 55-DMA, 100-DMA, 21-week MA
S 2: $1.5231/54/64 21-DMA, High Jul 31, 5-DMA
S 3: $1.5198 38.2% of $1.4814-1.5435
S 4: $1.5104/11/24/26 Lows Aug 2, 1, Low Jul 31
USD/JPY now trades below the daily Ichimoku cloud as it closed within yesterday and now slips below today. A close below today could encourage bears into further losses while daily studies look to plunge into oversold territory, however monthly studies reversing in overbought territory, so could be further scope for losses. Initial suppt now around Y97.44-79. Res seen from daily Ichimoku base and top.
R 4: Y99.94/100.12 Resistance line from May 22
R 3: Y99.56/70 Daily Kijun line
R 2: Y99.00/02/15/26 55-DMA, Daily Tenkan line, Aug 5 high, 21-DMA
R 1: Y98.57-76 100-DMA, Dly Ichimoku top
Latest price: Y98.25
S 1: Y97.44/66/79 Daily Bolli base, Weekly Tenkan, Aug 2009 high
S 2: Y96.75/87 61.8% of Y93.79-101.53, Jun 21 low
S 3: Y95.62/77 76.4% of Y93.79-101.53, High Jun 18
S 4: Y94.99/95.22 May 2010 reversal high & Jun 7 reversal low, Jun 17 high
EUR/JPY now testing suppt as the pair descends from base of rising channel, bears already testing the 55-DMA at Y129.87, initial suppt alongside the Jun 21 high and hourly low at Y129.70/81, respectively. Daily studies are back in sell-mode and further suppt seen from the dly Ichimoku top at Y129.39, bears likely look to break back into the cloud. However, mthly/wkly studies still mildly bullish and failure to close below 55-DMA could stall the current slide.
R 4: Y132.51 Daily Bollinger band top
R 3: Y131.98/132.02/04/08 Highs Aug 2, Jul 23, May 31 high
R 2: Y131.57/58/77 Aug 5 high, 100-Month MA, Rising channel base
R 1: Y130.69/82/92 21-DMA, High Jul 16, Daily Tenkan line
Latest price: Y130.32
S 1: Y129.70/81/87 High Jun 21, Hourly low, 55-DMA
S 2: Y129.39 Daily Ichimoku cloud top
S 3: Y128.71/82/87/98 Daily Ichimoku base, 100-DMA, Daily Bolli base, Low May 8
S 4: Y128.02/19/31 Low Jul 10, 200-month MA