EUR/USD: Former Sept 17 Resistance Line As Support. The pair finds support from the former Sept 17 resistance line while daily tech studies tick higher. Focus remains on the remaining May 1 trend-line at $1.3144, a break above here would encourage bulls and target the Sept 17 high at $1.3172. However, the “dark-cloud cover” candle pattern was confirmed and there remains risk to the downside. Strong support seen around the 200-DMA at $1.2834.
RES 4: $1.3140/44 Oct 17 high, May 1 trend-line
RES 3: $1.3106 Upper Bollinger Band
RES 2: $1.3072 High Oct 5
RES 1: $1.3062 5-day moving average
LATEST PRICE: $1.3044
SUP 1: $1.2992/93 High Oct 12, Former resistance from Sept 17 – now supp
SUP 2: $1.2958 21-day moving average
SUP 3: $1.2906 23.6% Fibonacci retracement of $1.2043-1.3172
SUP 4: $1.2810/26/34 Lower Bolli band, Low Oct 11, 200-DMA
GBP/USD: Focus Turns To $1.5977 Support Level. GBP looking for support as daily tech studies slide, although 10-day momentum shows a little bull-divergence. Also, slow stochastics shows a recent sell-signal. Support seen at $1.5960 to $1.5977, the lower Bollinger band, 55-DMA and lows of Oct 9 and 10. After two days of losses, Cable may look to consolidate and price action today may look to test the 5-DMA resistance at $1.6066.
RES 4: $1.6218/31 High 5 Oct, 76.4% Fibonacci of $1.6309-1.5977
RES 3: $1.6158/78/82 Res ln Sep 21, Hgh Oct 17, 61.8% Fib $1.6309-1.5977
RES 2: $1.6097/6104/05 High Oct 12, 38.2% Fibo $1.6309-1.5977, 21-DMA
RES 1: $1.6066 5-day moving average
LATEST PRICE: $1.6018
SUP 1: $1.5960/77 Lower Bollinger band, 55-DMA, Lows 9 & 10 Oct
SUP 2: $1.5960/67 38.2% of Jun/Sep, 61.8% of 28 Aug rally
SUP 3: $1.5912 38.2% of $1.5269-$1.6309 move & High Aug 23
SUP 4: $1.5901 50% of Aug/Sep rally
USD/JPY: 200-DMA Broken, Focus Turns To Oct 5 Res Line. USD/JPY has broken through the 200-DMA today, we look for a close above while bulls test the next resistance level, seen around Y79.60 and Y79.66, the Oct 5 resistance line and August high. Above
here, the 38.2% Fibonacci level at Y79.82 should cap. Daily tech studies remain firmly bullish and we remind that the future Ichimoku shows a bullish crossover to add to the positive tone.
RES 4: Y80.62 High Jun 25
RES 3: Y80.10 High Jul 5
RES 2: Y79.82 38.2% Fibonacci of Mar-Sep decline
RES 1: Y79.60/66 Oct 5 resistance line, August high
LATEST PRICE: Y79.56
SUP 1: Y78.57/76/78/87 Top Ichimoku cloud, Tenkan, 100-DMA, High 5 Oct
SUP 2: Y78.24 Base of Ichimoku cloud
SUP 3: Y78.50 Kijun line, 55-DMA
SUP 4: Y78.24/35/42 Ichimoku cloud base, Support line Sep 28, 21-DMA
EUR/JPY: Rising Channel Upper Remains Initial Resistance. EUR/JPY testing the rising channel upper resistance, again, as bulls look to break higher. Daily tech studies also point higher and we see resistance after the channel at Y104.14, the Oct 17 high, followed by the Apr 16 low at Y104.63. Initial support seen from the former April resistance line at Y102.88, with strong support seen below this level from the Kijun line, 200-DMA and Tenkan line.
RES 4: Y105.65 Low Mar 6
RES 3: Y104.63 Low Apr 16
RES 2: Y104.14 High Oct 17
RES 1: Y103.96 Rising channel upper
LATEST PRICE: Y103.87
SUP 1: Y102.88 Resistance line from April
SUP 2: Y101.89/97/102.15 Kijun line, 200-day moving average, Tenkan line
SUP 3: Y101.62 21-day moving average
SUP 4: Y100.91 Rising Jul Channel base
EasyForexNews Research Team