EUR/USD: Golden-Cross About To Be Formed. The pair trades back above the former Jul support line after the pair rebounded from the previous two session’s lows. Daily tech studies are mixed, 10-day momentum continues to point lower, however, slow stochastics appears to be turning a little higher. Initial resistance seen at $1.2976, the 21-DMA. Of note is the 55-DMA, which is just shy of forming a golden-cross – it is about move above the 200-DMA.
RES 4: $1.3105 Upper Bollinger Band
RES 3: $1.3072/84 High Oct 5, Oct 22
RES 2: $1.2992 High Oct 12
RES 1: $1.2976 21-day moving average
LATEST PRICE: $1.2959
SUP 1: $1.2933/39 Former July support line – now resistance, 5-DMA
SUP 2: $1.2826/29/34/48 Low Oct 11, 55-DMA, 200-DMA, Lower Bolli band
SUP 3: $1.2803 Low 1 Oct
SUP 4: $1.2741 38.2% retracement of Jul/Sep rally
GBP/USD: Daily Studies Weak, Sep 21 Falling Trendline Key. GBP bounced from the 55-DMA but remains below the key Sep 21 falling trendline, initial resistance $1.6121. Daily tech studies are neither firmly bullish nor bearish, 10-day momentum slips into negative territory, slow stochastics moves higher and RSI is trendless. Cable is bearish until it breaks the Sep 21 trendline, however, of note is the 100-DMA as it looks to bullishly cross above the 200-DMA.
RES 4: $1.6218 High 5 Oct
RES 3: $1.6176/78 Upper Bollinger band, High Oct 17
RES 2: $1.6141/43 High Oct 26, High Oct 25
RES 1: $1.6121 Sep 21 falling trendline
LATEST PRICE: $1.6084
SUP 1: $1.6064/65 Frmer 23.6% of $1.5269-1.6309, 21-DMA
SUP 2: $1.6027 55-day moving average
SUP 3: $1.5997 Lows 9 & 10 Oct
SUP 4: $1.5953 Lower Bolli band
USD/JPY: Bearish Tone Targets 38.2% Fibonacci Level. USD/JPY continues to slide following the bearish reversal pattern on Friday, initial support now seen at Y79.50/53, the Oct 26 low and 200-DMA. Daily tech studies remain bearish and further support is seen at Y79.22/26/28, the Sep 19 high, 38.2% retracement level of the recent rally and Oct 30 low. Bears will target a move to the 38.2% retracement level, which formed support yesterday.
RES 4: Y80.55/62/65 Highs May 15, Jun 25, 50% Fibo Of Mar/Sep decline
RES 3: Y80.34/38 Oct 25 and Oct 26 highs
RES 2: Y80.00/07/14 High Oct 23 and Oct 30, Former Oct 5 res line
RES 1: Y79.76 Tenkan line
LATEST PRICE: Y79.58
SUP 1: Y79.50/53 Low Oct 26, 200-day moving average
SUP 2: Y79.22/26/28 High Sep 19, 38.2% of Sep to Oct rally, Low Oct 30
SUP 3: Y78.82/91/79.09 100-DMA, Kijun Line, 21-DMA
SUP 4: Y78.40 Top Ichimoku cloud
EUR/JPY: Bears Eye Move To Rising Channel Base At Y101.67. EUR/JPY fell to test support around the 200-DMA and Kijun line at Y102.10/11, now further support after Y102.61/62, the former Sep 17 falling resistance line and 21-DMA. Daily tech studies continue to slide and 10-day momentum shows a sell-signal as it crosses below the zero-line. The Jul rising channel base lies at Y101.67 and bears may target a move to here. Initial res seen at Y103.38, the Tenkan line.
RES 4: Y105.65 Low Mar 6
RES 3: Y104.71/76 61.8% Fib Mar/Jul fall, Channel upper , Sep 17 Res ln
RES 2: Y104.59 High Oct 23
RES 1: Y103.38 Tenkan Line
LATEST PRICE: Y103.19
SUP 1: Y102.61/62 Former Sep 17 falling resistance – now support, 21-DMA
SUP 2: Y102.10/11 200-DMA, Kijun Line
SUP 3: Y101.67 Rising Jul Channel base
SUP 4: Y101.33 Ichimoku Coud top
EasyForexNews Research Team