EUR/USD: Finds Support at 21-DMA. The euro sees a bear-cross in the daily stochastic study as the market slides to find support at the 21-day moving average of $1.2522, which meets a 50% retracement of the June rally at $1.2518. Bears need to break this area to seek the 61.8% Fibonacci level at $1.2463. The 5-DMA turns initial resistance at $1.2615.
RES 4: $1.2825/30 High 21 May, 55-day moving average
RES 3: $1.2786 50.0% retracement of $1.3284 to $1.2288
RES 2: $1.2748 High 18 June
RES 1: $1.2715 Daily Bollinger band top
LATEST PRICE: $1.2555
SUP 1: $1.2518/22 50% of June rally, 21-day moving average
SUP 2: $1.2437 Low 8 June
SUP 3: $1.2355 Daily Bollinger band base
SUP 4: $1.2288 Low 1 June
GBP/USD: Verge of Bear-Cross for Daily Stochastic Study. Cable sees a similar picture to EUR/USD with the daily stochastic study on the verge of a bear-cross and the market sliding towards a 50% retracement and the 21-DMA, which meet at $1.5525/55. Under there, the 61.8% retracement is $1.5463. The 5-day moving average also turns initial resistance at $1.5665.
RES 4: $1.5836/41 100, 55-day moving average
RES 3: $1.5802 Spike high 18 June
RES 2: $1.5778/80 High 20 June, Bollinger band
RES 1: $1.5755 200-day moving average
LATEST PRICE: $1.5611
SUP 1: $1.5525/55 50% of June rally, 21-day moving average
SUP 2: $1.5463 61.8% retracement of June rally
SUP 3: $1.5404 Low 8 June
SUP 4: $1.5322 Low 5 June
USD/JPY: Breaks into Ichimoku Cloud. USD/JPY builds on gains to push into the Ichimoku cloud of Y80.16/Y81.66 and turn bulls attention to the 100-day moving average and May highs at Y80.45/62. The daily studies do not yet support the move, however, with some light bear-divergence in the daily stochastic study. 10-day momentum is turning higher and bears need to push back
towards the Y79.25 21-DMA
RES 4: Y81.66/68 Top of the Ichimoku cloud, 61.8% of Y84.16-Y77.66
RES 3: Y81.10 2% moving average envelope
RES 2: Y80.91 50% retracement of Y84.16-Y77.66
RES 1: Y80.45/62 100-day moving average, High 16, 2 May
LATEST PRICE: Y80.38
SUP 1: Y80.16 Base of the Ichimoku cloud
SUP 2: Y79.83/93 High 7 June, 55-DMA
SUP 3: Y79.48/65 Tenkan line, 5-day moving average
SUP 4: Y79.03/25 Kijun line, 21-day moving average
EUR/JPY: Tests Fibonacci Level as Studies Fade. EUR/JPY tested a 38.2% retracement of the March-June decline, at Y101.64 before edging away from that level and the Bollinger band. 10-day momentum had also declined and the daily stochastic study does not support the move higher, itself threatening a bear-cross near overbought territory.
RES 4: Y102.77 Low 9 May
RES 3: Y102.11 2% MAE, High 22 May
RES 2: Y101.85 Bollinger band
RES 1: Y101.63/64 High 21 June, 38.2% of Y111.42-Y95.59
LATEST PRICE: Y100.93
SUP 1: Y100.47 5-day moving average
SUP 2: Y100.17 Tenkan line
SUP 3: Y99.00/34 Kijun line, 1% MAE, 21-DMA
SUP 4: Y98.09 2% Moving Average Envelope
EasyForexNews Research Team