EUR/USD bounced from Jul 10 support line yesterday to close the session a little higher despite bearish daily studies. Bears eye a retest of the support line at $1.3445, just above yesterday’s low at $1.3442, a break below would accelerate losses but failure again adds upside pressure, however ahead of here, initial support at $1.3481 – 55-DMA. Yesterday bulls left a long lower shadow adding some risk higher, initial res is yesterday’s high at $1.3524.
R 4: $1.3635 21-day moving average
R 3: $1.3598 High Oct 14
R 2: $1.3564 5-day moving average
R 1: $1.3524 High Nov 4
Latest price: $1.3498
S 1: $1.3481 55-day moving average
S 2: $1.3469 50.0% of $1.3105-1.3832
S 3: $1.3442/45 Low Nov 4, Support line Jul 10
S 4: $1.3408 Daily Bollinger band base
GBP/USD pauses on its way lower and met support just below the 55-DMA at $1.5923 to end a little higher. Daily studies still bearish but show signs of slowing while weekly studies are still reversing from overbought territory. Bears need to close below the $1.5900 level to confirm a bearish trend – Oct 16 low at $1.5894 is key support and bottom of the range. Bulls need to retest the highs at $1.6260 – a break and close above likely resumes the uptrend.
R 4: $1.6061/64 21-DMA, 23.6% of $1.5429-1.6260
R 3: $1.6024 Low Oct 29
R 2: $1.6002 High Oct 11
R 1: $1.5989 5-day moving average
Latest price: $1.5967
S 1: $1.5943 38.2% of $1.5429-1.6260
S 2: $1.5919/23 23.6% of $1.4814-1.6260, 55-DMA
S 3: $1.5894/5904 Low Oct 16, Low Nov 4
S 4: $1.5867 Daily Bollinger band base
USD/JPY slowly creeps back into daily Ichimoku cloud after leaving a double-day high at Y98.85. Bears already testing support despite bullish daily studies, key initial support at Y98.27 – dly Ichimoku cloud base. A break below here runs into a variety of support around Y97.79-90 and below here is 200-DMA at Y97.65. Dol-yen appears to be struggling to find direction as it ranges between Y99.00 to Y96.50, however, monthly studies are bearish.
R 4: Y99.36 High Sept 23
R 3: Y99.07/08 61.8% of Y100.61-96.57, May res line
R 2: Y98.85 Highs Nov 1 & 4
R 1: Y98.65/68 Daily Ichimoku cloud top, Hourly high
Latest price: Y98.47
S 1: Y98.27 Daily Ichimoku base
S 2: Y98.06/11 Low Oct 30, 38.2% of Y100.61-96.57
S 3: Y97.79/90 Daily Kijun, Daily Tenkan
S 4: Y97.52/65 23.6% of Y100.61-96.57, 200-DMA
EUR/JPY failed to break above daily Kijun line and former 50.0% of Y131.15-135.51 – now key initial resistance at Y133.33 which bulls already tested today. Daily studies are sharply lower and bears look to retest the daily Ichimoku cloud top and 55-DMA, at Y132.65/68, respectively. A break below here then targets the support line from Jun 13 seen at Y132.35, which bulls will aim to hold above, however downside pressure mounts as monthly studies also slide.
R 4: Y134.04/05 Daily Tenkan line, 76.4% of Y134.95-131.15
R 3: Y133.80/84 May 22 reversal high, 38.2% Y131.15-135.51
R 2: Y133.68 21-DMA & High Nov 1
R 1: Y133.33 Daily Kijun line & 50.0% Y131.15-135.51
Latest price: Y132.86
S 1: Y132.65/68 Daily Ichimoku cloud top, 55-DMA
S 2: Y132.35 Support line from Jun 13
S 3: Y132.18 76.4% of Y131.15-135.51
S 4: Y131.67 Daily Bollinger band base
