EUR/USD: Bulls Focus on One-Year Trendline. The pair sees a bull-cross for the stochastic and momentum studies, turning bull’s attention to a one-year trendline at $1.3098. Support now initial comes from the 21 & 5-DMAs of $1.2963/83 with support line behind at $1.2909 and the 200-DMA at $1.2824.
RES 4: $1.3173 – High 17 Sep
RES 3: $ 1.3121 – Bollinger Band
RES 2: $1.3098 – One year trendline
RES 1: $1.3072 – High Oct 5
LATEST PRICE: $1.2986
SUP 1: $1.2963/83 – 21, 5-day moving average
SUP 2: $1.2909 – Minor support line
SUP 3: $1.2816/24 – Bollinger band, 200 day moving average
SUP 4: $1.2739 – Support line from July
GBP/USD: Testing Lower Bollinger Band. GBP pulled back from a Fibonacci level at $1.6218 to give back the 21-day moving average, which turns resistance at $1.6162 behind the 5-DMA of $1.6093. Bears are now focusing on Fibonacci levels starting from $1.5998, although the move is testing the base of the daily Bollinger band, which argues against fast losses.
RES 4: $1.6310 – 2012 high Sep 21
RES 3: $1.6273/97 – High Sep 28, Bollinger band
RES 2: $1.6218 – High 5 Oct
RES 1: $1.6162 – 21 day moving average
LATEST PRICE: $1.6045
SUP 1: $1.5998 – 38.2% of Aug/Sep rally
SUP 2: $1.5960/68 – 38.2% of Jul/Sep, 61.8% retracement of 28 Aug rally
SUP 3: $1.5906/13 – 55-DMA, 38.2% retracement of $1.5270-$1.6310 move & High Aug 23
SUP 4: $1.5901 – 50% of Aug/Sep rally
USD/JPY: Tests Ichimoku Cloud. USD/JPY built off a band of support from Y78.15/46 and reached Y78.88, testing the 100-day moving average and Bollinger band top as well as the base of the Ichimoku cloud. The studies remain firm, but bulls need to extend gains towards the cloud top of Y79.27.
RES 4: Y79.66 – High Aug 20
RES 3: Y79.34 – 200-day moving average
RES 2: Y79.22/27 – High Sep 19, Top of Ichimoku cloud
RES 1: Y78.83/88 – 100-DMA, Base of Ichimoku cloud, High 5 Oct
LATEST PRICE: Y78.54
SUP 1: Y78.41/46 – Kijun line, 5-DMA
SUP 2: Y78.15/16 – Tenkan line, 21-DMA
SUP 3: Y77.13/44 – Low Sep 13, Sep 28
SUP 4: Y 76.50 – Low Feb 6
EUR/JPY: Trades Around 200-Day Moving Average. EUR/JPY also sees daily studies recover, including a bull-cross in the daily stochastic and momentum studies. The move sees the cross trade around the 200-day moving average, which turns initial support at Y101.78 ahead of the Y101.32 21-DMA, as bull’s attention turns to a minor resistance line from April highs, coming in at Y102.87.
RES 4: Y103.86 – High Sep 17
RES 3: Y103.30 – Bollinger band
RES 2: Y102.87 – Resistance line from April
RES 1: Y102.80 – High Oct 5
LATEST PRICE: Y101.81
SUP 1: Y101.78 – 200-day moving average
SUP 2: Y101.23/32 -Tenkan, 21-day moving average
SUP 3: Y100.93 – Kijun line
SUP 4: Y100.50 – July support line
EasyForexNews Research Team