EUR/USD again testing the resistance line from Feb 2013, now at $1.3312 and part of initial res, however, bulls fail to close above this level which usually adds risk downside. But, daily studies may be turning higher which would pressure bulls to the upside. Above initial res at $1.3345. Initial suppt is at $1.3268.
R 4: $1.3444 100-month MA,
R 3: $1.3377-3417 Dly Bolli top, High Jun 13, 200-wk MA, Highs Jun 18, 19
R 2: $1.3342/45 High Jul 31
R 1: $1.3312/18/19 Resistance line from Feb 2013, High Jun 11, Low Jun 17
Latest price: $1.3295
S 1: $1.3246/68 Hourly low, 5-DMA
S 2: $1.3228 50.0% of $1.3711-1.2746
S 3: $1.3194-3212 21-DMA, Hgh Apr 17, Hgh Jul 11, 5-wk MA
S 4: $1.3100-30 High Jul 12, 55-DMA
GBP/USD declined a little on the day after bulls tested res at $1.5394. Strong res is still seen here and added to by yesterday’s failure to break above. Further failure here would flip sentiment lower, initial support seen around $1.5290 to $1.5305. Studies lend little direction so we await a breakout.
R 4: $1.5531/39 High Jun 21, 200-DMA
R 3: $1.5465 Daily Bollinger band top
R 2: $1.5424/35 38.2% of $1.6381-1.4832, High Jul 25
R 1: $1.5378/84/92/94 Highs Aug 5, Jul 22, 23 & Aug 6
Latest price: $1.5331
S 1: $1.5290/5302/04/05 5-DMA, 55-DMA, 100-DMA, 21-week MA
S 2: $1.5253/54 21-DMA, High Jul 31
S 3: $1.5150/72/98 Suppt line Jul 9
S 4: $1.5104/11/24/26 Lows Aug 2, 1, Low Jul 31
USD/JPY continues to track lower below the daily Ichimoku cloud while daily studies turn back into oversold levels and monthly studies look likely to reverse out of overbought territory. The pair is testing the daily Bolli base at Y97.20 but hit a low of Y97.09, initial suppt alongside at Y96.96. Below here is the key 61.8% at Y96.75 and then the 76.4% is at Y95.62. However, failure at Bolli base could see retest of cloud base at Y98.51.
R 4: Y99.05/15/31 21-DMA, Aug 5 high, Daily Kijun line
R 3: Y98.76/88 Daily Ichimoku cloud top, 55-DMA
R 2: Y98.51/52/57/64 Dly Ichimoku base, Daily Tenkan, 100-DMA
R 1: Y98.01/27 100-month MA, Low Jul 11,
Latest price: Y97.15
S 1: Y96.96/97.09 Hourly low
S 2: Y96.75/87 Jun 21 low
S 3: Y95.62/77 High Jun 18
S 4: Y94.99/95.22 May 2010 reversal high & Jun 7 reversal low, Jun 17 high
EUR/JPY descends to test within the daily Ichimoku cloud while daily studies reverse back lower to near oversold levels. Focus now on whether bears can close within the cloud – the top is at Y129.39 and the base is at Y128.69, also strong suppt is added from the dly Bolli base at Y128.84, 100-DMA at Y128.87 and the May 8 low at Y128.98. A break below these levels would likely open the downside, however, failure here could turn the pair bullish
R 4: Y131.98-132.08 Channel base, Hghs Aug 2, Jul 23, May 31 hgh
R 3: Y131.57 Aug 5 high & 100-Month MA,
R 2: Y130.56/68/82 Daily Tenkan line, 21-DMA, High Jul 16
R 1: Y130.33/38 Daily Kijun line
Latest price: Y129.27
S 1: Y128.69/84/87/98 Dly Ichimoku base, Dly Bolli base, 100-DMA, Low May 8
SP 2: Y128.02/19/31 Low Jul 10, 200-month MA
S 3: Y127.03/38 Lows Jun 12, 6
S 4: Y126.26/46 Weekly Kijun line