EUR/USD: Bears Focus on June Low. The EUR pushes lower with bears now focused on the 1 June low of $1.2288. Potentially slowing losses, the Bollinger band meets the $1.2364 hourly low but bulls really need to recover the 21-DMA up at $1.2546 to re-establish themselves.
RES 4: $1.2693 High 29 June
RES 3: $1.2546 21-day moving average
RES 2: $1.2497 5-day moving average
RES 1: $1.2407 Low 28 June
LATEST PRICE: $1.2381
SUP 1: $1.2364 Low 5 July, Bollinger band
SUP 2: $1.2288 Low 1 June
SUP 3: $1.2151 Low 29 June 2010
SUP 4: $1.2135 50% of euro range
GBP/USD: Slips Under 21-DMA. GBP slips under the 21-DMA of $1.5602 as the daily studies turn neutral. Bears will now focus on Fibonacci level and 28 June low at $1.5463/86, while bulls need to recover that 21-DMA.
RES 4: $1.5817 100-day moving average
RES 3: $1.5752/78 200-day moving average, Bollinger band, High 20 June
RES 2: $1.5723 High 2 July
RES 1: $1.5602/05 21, 5-day moving average
LATEST PRICE: $1.5529
SUP 1: $1.5500 Low 5 July
SUP 2: $1.5463/86 61.8% retracement of June rally, Low 28 June
SUP 3: $1.5450 Bollinger band
SUP 4: $1.5304 Interim low 8 June
EUR/JPY: Studies Turn Mixed. EUR/JPY now sees a recovering daily stochastic study, although 10-day momentum remains below the zero line as the market slips towards the late-June low of Y98.34. The Tenkan line turns initial resistance with the 21-DMA at Y98.87/96
RES 4: Y101.63/64 55-DMA, High 21 June, 38.2% of Y111.42-Y95.59, 2% MAE
RES 3: Y101.35/40 55-DMA, Bollinger, High 29 June
RES 2: Y100.75 Base of the Ichimoku cloud
RES 1: Y99.87/96 Tenkan line, 21-day moving average
LATEST PRICE: Y98.92
SUP 1: Y98.60/78 Kijun line, Low 5 July
SUP 2: Y98.34/40 Low 28 June, Bollinger band
SUP 3: Y97.89 61.8% retracement of June rally
SUP 4: Y97.60 2% MAE
USD/JPY: Trades Within Ichimoku Cloud. The pair is now trading within the falling Ichimoku cloud, with initial support from the Tenkan line at Y79.89 and 5, 55-DMAs at Y79.70/80. The daily studies remain quite neutral and bulls really need to overtake the Y80.63 high to re-establish themselves. While that high remains in place, Fibonacci levels include Y79.38 and Y78.79.
RES 4: Y81.68 61.8% of Y84.16-Y77.66
RES 3: Y80.91/81.16/31 50% of Y84.16-Y77.66, Top Ichimoku cloud, 2% MAE
RES 2: Y80.63 100-day moving average, High 2 May, 25 June
RES 1: Y80.35 Bollinger band
LATEST PRICE: Y79.93
SUP 1: Y79.14/38/55 Kijun line, 61.8% of 15 June rally, 21-DMA
SUP 2: Y78.62/79 Low 15 June, Bollinger, 61.8% of June rally
SUP 3: Y78.10 2% MAE
SUP 4: Y77.66 Low 1 June
EasyForexNews Research Team