EUR/USD: Slips Out of Bollinger Band. The EURO pushes outside of the daily Bollinger band, which is now at $1.2305, suggesting the market has declined too fast in the spike lower to $1.2235. However, studies remain weak and bears will focus on previous lows at $1.2151 and 50% retracement level at $1.2135.
RES 4: $1.2693 High 29 June
RES 3: $1.2531 21-day moving average
RES 2: $1.2425 5-day moving average
RES 1: $1.2407 Low 28 June
LATEST PRICE: $1.2288
SUP 1: $1.2235 Hourly spike low
SUP 2: $1.2151 Low 29 June 2010
SUP 3: $1.2135 50% of euro range
SUP 4: $1.1881 Low June 2010
GBP/USD: Tests Fibonacci Support. GBP tests a 61.8% retracement of the June rally at $1.5463 as studies remain weak. Trade remains within the Bollinger band of $1.5445 and bulls need to regain the 21-day moving average of $1.5601 to re-establish themselves.
RES 4: $1.5752/78 200-day moving average, Bollinger band, High 20 June
RES 3: $1.5723 High 2 July
RES 2: $1.5601 21-day moving average
RES 1: $1.5557 5-day moving average
LATEST PRICE: $1.5475
SUP 1: $1.5462/63 Low 6 July, 61.8% retracement of June rally
SUP 2: $1.5445 Bollinger band
SUP 3: $1.5389 76.4% retracement of June rally
SUP 4: $1.5304 Interim low 8 June
USD/JPY: Trades Within Ichimoku Cloud. The pair is now trading within the falling Y79.23/80.56 Ichimoku cloud, with initial support from the Tenkan line and 55-DMA at Y79.63/66. 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: Y80.91/81.30 50% of Y84.16-Y77.66, 2% MAE
RES 2: Y80.56/63 Top of Ichimoku cloud, 100-DMA, High 2 May, 25 June
RES 1: Y80.35 Bollinger band
LATEST PRICE: Y79.66
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
EUR/JPY: Trades Outside Bollinger Band. EUR/JPY slipped outside of the Bollinger band but is trying to regain this level, which matches the 61.8% retracement of the June rally at Y97.89. The 76.4% retracement is at Y97.01, while the Kijun line turns initial resistance with the late June low at Y98.34/60.
RES 4: Y100.20 Base of the Ichimoku cloud
RES 3: Y99.52/74 Tenkan line, 21-day moving average
RES 2: Y99.10 5-day moving average
RES 1: Y98.34/60 Low 28 June, Kijun line
LATEST PRICE: Y97.88
SUP 1: Y97.89 61.8% retracement of June rally
SUP 2: Y97.35 2% MAE
SUP 3: Y97.01 76.4% retracement of June rally
SUP 4: Y95.59 Low 1 June
EasyForexNews Research Team