Recent topside failures have confirmed the significance of the $1.2506-43 resistance region. Bulls need a close above the 55-DMA to confirm a break of this region and the falling daily trend line, shifting immediate focus to 1.2601 and overall focus to the $1.2771-1.2885 region. While $1.2506-46 caps, bears remain focused on $1.2042-1.2241. A close below $1.2414 provides bears breathing space and below $1.2362
confirms initial focus on 2014 lows.
RES 4: $1.2599 High Nov 19
RES 3: $1.2543 55-DMA
RES 2: $1.2532 High Nov 26
RES 1: $1.2506 High Dec 1
LPRICE: $1.2457
SUP 1: $1.2414 Alternating hourly support/resistance
SUP 2: $1.2362 Low Dec 10
SUP 3: $1.2241 Low Aug 10 2012
SUP 4: $1.2133 Low Aug 2 2012
Recent topside hesitation ahead of the $1.5763 level has resulted in a correction lower with the close below the 21-DMA reconfirming a bearish bias and shifting immediate focus to the $1.5541-87 region where Bollinger band base and 2014 lows are located. Bulls now need a close above $1.5694 to ease bearish pressure and above $1.5763 to shift focus back to the $1.5828-1.5947 region although the Bollinger band top ($1.5777) will then become a major issue for bulls
RES 4: $1.5825 High Nov 27
RES 3: $1.5763 High Dec 1
RES 2: $1.5746 High Dec 12
RES 1: $1.5694 Low Dec 12 now resistance
LPRICE: $1.5651
SUP 1: $1.5601 Low Dec 15
SUP 2: $1.5587 Bollinger band base
SUP 3: $1.5541 2014 Low Dec 8
SUP 4: $1.5462 Low Aug 30 2013
The ¥117.23 support confirmed significance last week with the recovery coming from just above this level. Layers of support in the ¥116.33-117.23 region remain key with bears needing a close below to confirm a break of the Oct-Dec rising daily channel base. This would see immediate focus shift to ¥115.31 and overall focus back to ¥112.32-113.86. Bulls now look for a close above ¥118.16 to ease bearish pressure and above ¥119.09 to shift focus back to the ¥119.55-120.12 region.
RES 4: ¥120.12 Hourly resistance Dec 9
RES 3: ¥119.55 High Dec 12
RES 2: ¥119.09 Hourly resistance Dec 12
RES 1: ¥118.16 Hourly resistance Dec 15
LPRICE: ¥117.38
SUP 1: ¥117.23 Low Nov 27
SUP 2: ¥116.85 Rising daily channel base Oct-Dec
SUP 3: ¥116.33 Low Nov 18
SUP 4: ¥115.31 Low Nov 13
Immediate focus has shifted to the ¥145.58-74 region where the Bollinger band base is located following the bearish close Monday and the break below the ¥146.30 support today. Layers of resistance are now accumulating with bulls needing a close above ¥147.15 to ease bearish pressure and above ¥148.37 to shift focus back to the ¥149.20-150.00 region. Bears look for a close below ¥145.58 to hint at a correction
targeting the ¥140.39-142.09 region although the Bollinger band base will be an issue
RES 4: ¥148.95 High Dec 9
RES 3: ¥148.37 Hourly resistance Dec 9
RES 2: ¥147.15 Hourly support Dec 15 now resistance
RES 1: ¥146.78 Hourly resistance Dec 15
LPRICE: ¥146.21
SUP 1: ¥145.74 Bollinger band base
SUP 2: ¥145.58 Low Nov 24
SUP 3: ¥144.77 Low Nov 18
SUP 4: ¥143.82 38.2% Fibonacci retracement 134.14-149.80
The £0.7908 support confirmed significance Monday with the bounce and relatively bullish close ending bearish hopes for the time being and seeing focus return to layers of resistance in the £0.7977-0.8067 region. Layers of support have accumulated with bears needing a close below £0.7946 to ease bullish pressure and below £0.7908 to shift immediate focus back to £0.7874 and overall focus back to the
£0.7764-66 region.
RES 4: £0.8041 Monthly High Nov 19
RES 3: £0.8023 200-DMA
RES 2: £0.8004 High Nov 21
RES 1: £0.7977 High Dec 1
LPRICE: £0.7957
SUP 1: £0.7946 Hourly support Dec 15
SUP 2: £0.7908 Alternating hourly support/resistance
SUP 3: £0.7893 Alternating hourly support/resistance
SUP 4: £0.7874 Low Dec 12