EUR/USD leaves a third black candle almost making black crows candle pattern, but yesterday bulls managed to close above 23.6% $1.2755-1.3400, part of initial suppt at $1.3248, alongside 21-DMA at $1.3252. Daily studies show sell-signal on 10-day momentum, wkly momentum also declines but monthlys trend sideways. Break below initial suppt threatens a test of suppt around $1.3200, before running into key suppt at $1.3110.
R 4: $1.3444 100-month MA
R 3: $1.3391/94/3400/16/17 Dly Bolli top, 200-week MA, Highs Aug 8, Jun 18, 19
R 2: $1.3342/45 Highs Jul 31 & Aug 7
R 1: $1.3297-3311 Res line Feb 2013, Highs Aug 5, Jul 30, High Dec 19, 5-DMA
Latest price: $1.3256
S 1: $1.3228-52 Low Aug 13, 21-DMA
S 2: $1.3200/07 High Apr 17, High Jul 11
S 3: $1.3154/67 38.2% of $1.2755-1.3400, 55-DMA
S 4: $1.3100-15 High Jul 12, 200-DMA, Dly Bolli base
GBP/USD left long upper-shadow yesterday after bulls attempted to push back up to the 200-DMA but ended lower on the day. Now the pair holds just above initial suppt – still seen around $1.5424-38, includes a 38.2% and highs and lows. Daily studies are mixed, 10-day momentum still rises but slow stochastic looks likely to turn lower. Bears may be looking to test the base of the pennant pattern seen at $1.5230, a break below here would confirm a bearish trend.
R 4: $1.5606/16/39 Low Jun 14, 55-week MA
R 3: $1.5555/63/74 Res line from Jan 2013, Daily Bolli band top, High Aug 8
R 2: $1.5512/26 High Aug 12, 200-DMA
R 1: $1.5477/79 High Jun 25, 5-DMA
Latest price: $1.5437
S 1: $1.5424-38 Low Aug 12, High Jul 25, Hourly low
S 2: $1.5378-95 Highs Aug 5, Jul 22, 23 & Aug 6
S 3: $1.5320/23/40/48 100-DMA, 21-week MA, 55-DMA, 21-DMA
S 4: $1.5284 38.2% of $1.4814-5574
USD/JPY currently holds above the daily Tenkan line while bears have already tested this level as suppt at Y97.88. However, daily studies are bullish and 10-day momentum completes a buy-signal so focus turns to resistance, key initial res at Y98.51/57. A close
above this key level would likely see bulls test the May 22 res line at Y99.94.
R 4: Y100.48 High Jul 15
R 3: Y99.70/72/94 Res line May 22
R 2: Y99.04/08/15 Lows Jul 17, 15, Aug 5 high
R 1: Y98.51-80 Dly Kijun, 100-DMA & Dly Ichimoku base, Cloud top
Latest price: Y98.17
S 1: Y97.66/79/81/88 Aug 2009 high, Wkly Tenkan, Dly Tenkan
S 2: Y96.75/87 Jun 21 low
S 3: Y95.62-94 High Jun 18, Low Aug 8, Dly Bolli base
S 4: Y94.82/99/95.22 Apr 2 suppt line, May 2010 high & Jun 7 low, Jun 17 high
EUR/JPY holds above suppt after breaking above dly Ichimoku cloud today, bulls currently testing 21-DMA as initial res at Y130.54, current hourly high at Y130.55. A break above likely accelerates gains while studies are bullish, further res at Y131.12, highs of Apr 11 and Jul 2. Next res around Y131.50, includes 100-mth MA, but bulls likely aim to test key res around Y132.00.
R 4: Y131.98/132.02/04/08 Highs Aug 2, Jul 23, May 31 high
R 3: Y131.41/44/57/58 Highs Jun 4 & 5, Aug 5 high, 100-Month MA
R 2: Y131.12 High Apr 11 & Jul 2
R 1: Y130.54/55 21-DMA, Hourly high
Latest price: Y130.55
S 1: Y129.63/70/71/84 55-DMA, Highs Jun 21, Aug 9, Hourly low
S 2: Y129.25/39 100-DMA, Daily Ichimoku cloud top
S 3: Y128.88/98 Daily Ichimoku cloud base, Low May 8
S 4: Y128.02-31 Low Jul 10, Dly Bolli base, 200-mth MA