EUR/USD: Back Within Bollinger Band. The pair holds above the former 61.8% retracement level, which had capped at $1.2444, with this level now turning support. The daily stochastic study remains firm, however 10-day momentum is fading as the market corrects back within the daily Bollinger band of $1.2570. Bulls remain focused on the $1.2590 high and 100-DMA at $1.2607, while bears want to look towards the 21-DMA of $1.2366.
RES 4: $1.2726/27 Resistance line 29 Aug, 23.6% of $1.4940-$1.2043
RES 3: $1.2693 High 29 June
RES 2: $1.2666 50% of May/Jul decline
RES 1: $1.2607 100-day moving average
LATEST PRICE: $1.2510
SUP 1: $1.2444 Early August high
SUP 2: $1.2392 55-day moving average
SUP 3: $1.2346/66 Support line from 25 July, 21-day moving average
SUP 4: $1.2242 Low 10 Aug
GBP/USD: Bulls Fade at Fibonacci Level. GBP is correcting slightly back into it’s Bollinger band of $1.5883, with the move threatening a downturn in the daily studies. This comes after as test of Fibonacci level at $1.5908. The 5-DMA turns initial resistance at $1.5829 with support from the 100-DMA and recent high at $1.5747/68.
RES 4: $1.6115 Low 7 May
RES 3: $1.6058/62 76.4% retracement, High 2 April
RES 2: $1.5985 Implied Channel top
RES 1: $1.5908/13 61.8% retracement of May/Jun decline, High 23 Aug
LATEST PRICE: $1.5809
SUP 1: $1.5747/68 100-day moving average, High 27 July
SUP 2: $1.5718 200-day moving average
SUP 3: $1.5695 21-day moving average
SUP 4: $1.5602/37 Support line 12 July, 55-DMA & Low 16 Aug
USD/JPY: Pullback from Ichimoku Cloud, 100-DMA. USD/JPY pulled back from a test of the Ichimoku cloud top and the 100-day moving average and slipped below moving average and Ichimoku levels from Y78.80/99 and Y79.04/14. The move has seen a
bear-cross in the daily stochastic study, turning bear’s attention back towards the Y78.04 support line from 1 June.
RES 4: Y79.50/66 100-DMA, High 20 Aug
RES 3: Y79.27/36 200-day moving average, Top of Ichimoku cloud
RES 2: Y79.04/14 55-DMA, Ichimoku cloud base
RES 1: Y78.80/99 Kijun & Tenkan lines
LATEST PRICE: Y78.77
SUP 1: Y78.27 Low 22 August
SUP 2: Y78.04/15 Support line from 1 June, 1% Moving average envelope
SUP 3: Y77.89 Bollinger band
SUP 4: Y77.66 Low 1 June
EUR/JPY: Trades Back in Ichimoku Cloud. EUR/JPY is sitting within the Y97.60/Y99.57 Ichimoku cloud with the 55-day moving average initial support at Y97.93. The daily stochastic study is entering overbought territory and also showing some signs of fading.
RES 4: Y100.25 100-day moving average
RES 3: Y100.10 2% moving average envelope
RES 2: Y99.57/67 Ichimoku cloud top, 76.4% of July pullback
RES 1: Y99.19/40 High 21 Aug, Bollinger band
LATEST PRICE: Y98.51
SUP 1: Y97.93 55-day moving average
SUP 2: Y97.60/84 Base of the Ichimoku cloud, Tenkan line
SUP 3: Y97.25 21-day moving average
SUP 4: Y96.66 Kijun line
EasyForexNews Research Team