EUR/USD: Bears Eye 38.2% Fibonacci, Initial support. The pair rebound fizzled out as it met strong selling at the 55-DMA to close near the 38.2% Fibonacci retracement of the Jul to Sep rally, now initial support with the lower daily Bollinger band at $1.2741/43, respectively. Daily studies remain bearish and Euro-dollar trades below the 200-DMA. Further support seen at $1.2636, the 100-DMA, followed by the 50.0% Fibo at $1.2608. Initial res seen at $1.2793.
RES 4: $1.2906 Former 23.6% Fibonacci of $1.2043-1.3172
RES 3: $1.2871 55-day moving average
RES 2: $1.2824/26 200-DMA, Low Oct 11
RES 1: $1.2793/2803 5-DMA, Low 1 Oct
LATEST PRICE: $1.2750
SUP 1: $1.2741/43 38.2% of Jul/Sep rally, Lower daily Bollinger band
SUP 2: $1.2636 100-day moving average
SUP 3: $1.2608 50.0% Retracement of Jul/Sep rally
SUP 4: $1.2474 61.8% Retracement of Jul/Sep rally
GBP/USD: Bears Eye 100-Week MA Key Support At $1.5936. GBP continues to trade lower after bulls managed to pull the pair up to the 21 and 55-DMAs but cable met strong resistance here and was sent lower. Daily tech studies are also bearish as 10-day momentum sinks lower while slow stochastics is in sell-mode. Initial support seen at $1.5967, the 38.2% Fibonacci, Aug 23 high and Oct 23 low. Strong supp seen at $1.5936/38, the 100-week MA & lower Boll band.
RES 4: $1.6141/43/63 High Oct 26, High Oct 25, Upper Bollinger band
RES 3: $1.6081 Former Sep 21 falling trendline
RES 2: $1.6064 Frmer 23.6% of $1.5269-1.6309
RES 1: $1.6050/53 21-day moving average, 55-day moving average
LATEST PRICE: $1.5979
SUP 1: $1.5967 38.2% Jun/Sep, 61.8% of 28 Aug rally
SUP 2: $1.5936/38 100-week moving average, Lower daily Bollinger band
SUP 3: $1.5912 38.2% of $1.5269-$1.6309 move, High Aug 23, Low Oct 23
SUP 4: $1.5901 50% of Aug/Sep rally
USD/JPY: Falls Below Y80.00 Level, Daily Studies Slide. USD/JPY looks decidedly bearish as it breaks below the Y80.00 barrier while daily tech studies slide, all following the inside-day/harami pattern posted on Nov 5. Initial support now seen around Y79.76/82, the Nov 7 low and 38.2% Fibonacci level of the Mar to Sep decline. Further strong support seen around Y79.60 to Y79.66, consisting of the 21 and 200-DMAs and August high.
RES 4: Y81.49 61.8% Fibonacci of Mar/Sep decline
RES 3: Y80.97 Low Apr 23
RES 2: Y80.55/62/68 Highs May 15, Jun 25, Nov 2
RES 1: Y80.34/38 Oct 25 and Oct 26 highs
LATEST PRICE: Y79.88
SUP 1: Y79.76/82 Nov 7 low, 38.2% Fibonacci of Mar-Sep decline
SUP 2: Y79.60/64/66 21-DMA, 200-DMA, August high
SUP 3: Y79.44 38.2% Fibonacci of Sep-Oct rally
SUP 4: Y79.22/28/32 High Sep 19, Low Oct 30, Kijun line
EUR/JPY: Breaks Below Rising Channel Lower – Now Initial Res. EUR/JPY falls below the rising channel lower for the first time as daily studies plummet, current price action hovers just below the rising channel, initial resistance at Y102.31 alongside the Kijun line at Y102.38. The bearish engulfing candle posted on Oct 23 still weighs on the pair and we see intial support as the 55-DMA at Y101.40, with the Ichimoku cloud top as further support at Y100.93.
RES 4: Y104.59 Oct 23 monthly high
RES 3: Y103.87/94/99 High Sep 17, High Oct 31, High Nov 1
RES 2: Y102.87/103.00 Tenkan Line, 21-day moving average
RES 1: Y102.31/38 Rising Jul Channel lower, Kijun line
LATEST PRICE: Y101.97
SUP 1: Y101.40 55-day moving average
SUP 2: Y100.93 Ichimoku Coud top
SUP 3: Y99.54/55/64/66 Lows 11, 13, 27 Sep, 100-DMA
SUP 4: Y99.00 Ichimoku cloud base
EasyForexNews Research Team