EUR/USD: Attempts Recovery Off 200-Day Moving Average. The pair continues to attempt a recovery from the 200-DMA and minor rising support line at $1.2823/57. The pair put in a $1.28035 low before the bounce, which saw recovering momentum and now signs of recovery in the stochastic study. Bulls initially need to sustain a recovery of the 5 & 21-DMAs at $1.2900/22 to focus on one-year trendline at $1.3112.
RES 4: $1.3173 – High 17 Sep
RES 3: $ 1.3125 – Bollinger Band
RES 2: $1.3112 – One year trendline
RES 1: $1.2968 – High Oct 2
LATEST PRICE: $1.2927
SUP 1: $1.2823/57 – 200 day moving average, Minor support line
SUP 2: $1.2701 – Support line from July
SUP 3: $1.2690 – Bollinger band
SUP 4: $1.2627 – Low Sept 7
GBP/USD: Focus on 21-Day Moving Average. GBP sees the daily studies remain soft and the 5 & 21-day moving averages put in a bear-cross as bears edge under that 21-DMA, which turns resistance at $1.6145. Break under here turns their attention to Fibonacci level at $1.5913, which matches a former high from 23 Aug. The 5-day moving average provides additional light resistance at $1.6120.
RES 4: $1.6451 – High Aug 29, 2011
RES 3: $1.6310 – 2012 high Sep 21, Bollinger band
RES 2: $1.6273 – High Sep 28
RES 1: $1.6120/45 – 5, 21 day moving average
LATEST PRICE: $1.6101
SUP 1: $1.6067 – Low Oct 3
SUP 2: $1.6000 – Bollinger band
SUP 3: $1.5913 – 38.2% retracement of $1.5270-$1.6310 move, High Aug 23
SUP 4: $1.5875 55-day moving average
USD/JPY: Moves to Test 200-Day Moving Average. Dollar-yen sees recovering daily studies as the pair extends over the 21-DMA at Y78.16, with further Ichimoku & MA support at Y78.41 and Y78.01 as the Bollinger band also narrows to Y77.45/78.83.Bulls attention now turns to the top of that band, which matches the 100-day moving average as well as to the base of the Ichimoku cloud at Y78.91.
RES 4: Y79.33 – 200-day moving average
RES 3: Y79.22/27 – High Sep 19, Top of Ichimoku cloud
RES 2: Y78.91 – Base of Ichimoku cloud
RES 1: Y78.83 – 100-day moving average
LATEST PRICE: Y78.61
SUP 1: Y78.16/23/41 21, 5-DMA, Kijun line, 55-day moving average
SUP 2: Y78.01 – Tenkan line
SUP 3: Y77.13/44 – Low Sep 13, Sep 28
SUP 4: Y 76.50 – Low Feb 6
EUR/JPY: Daily Studies Recover. EUR/JPY also sees daily studies recover, including a bull-cross in the daily stochastic study and recovering momentum. The move pushes over MA & Ichimoku levels, which turn support at Y100.88/101.00 DMA, as bulls now focus on the 200-DMA at 101.74 and Fibonacci levels at Y101.76/102.25.
RES 4: Y103.08 – Bollinger band
RES 3: Y102.25 – 61.8% of September pullback
RES 2: Y101.76 – 50% of September pullback
RES 1: Y101.74 – 200-day moving average
LATEST PRICE: Y101.61
SUP 1: Y100.88/92/00 -Tenkan, Kijun line, 5, 21-day moving average
SUP 2: Y100.15 – July support line
SUP 3: Y99.64 – Low Sep 27
SUP 4: Y98.65/86 – 55,100 day moving average
EasyForexNews Research Team