EUR/USD: Fades From 38.2% Level, Daily Boll Bands Wider. The pair continues to trend lower and approaches the 100-DMA, initial support at $1.2641. The daily Bollinger bands are widening, which indicates the potential for increased volatility and daily studies continue to look bearish. Last session posts a doji which cautions bears. Initial resistance seen at $1.2741, the former 38.2% retracement of the Jul-Sep rally.
RES 4: $1.2906 Former 23.6% Fibonacci of $1.2043-1.3172
RES 3: $1.2881 55-day moving average
RES 2: $1.2817/26 200-DMA, Low Oct 11
RES 1: $1.2741 38.2% of Jul/Sep rally
LATEST PRICE: $1.2688
SUP 1: $1.2641 100-day moving average
SUP 2: $1.2608 50.0% Retracement of Jul/Sep rally
SUP 3: $1.2474 61.8% Retracement of Jul/Sep rally
SUP 4: $1.2442/44 Highs Aug 6 & 7
GBP/USD: 38.2% Level Holds As Resistance, Bears Eye 200-DMA. GBP tested the former 38.2% retracement level as resistance, but closed lower, now trades just above the 200-DMA which is new initial support at $1.5851. We see bears eyeing the 200-DMA and looking to also break this support level and try to move down to the 50.0% Fibonacci retracement level of the Jun-Sep Rally. Bulls will try and move back towards the 38.2% level.
RES 4: $1.6081 Former Sep 21 falling trendline
RES 3: $1.6036/57/64 21-DMA, 55-DMA, Frmer 23.6% of $1.5269-1.6309
RES 2: $1.5939 100-week moving average
RES 1: $1.5912 38.2% of $1.5269-$1.6309 move, High Aug 23, Low Oct 23
LATEST PRICE: $1.5870
SUP 1: $1.5849/51 Jun Rising Trendline, 200-DMA
SUP 2: $1.5789/93 50.0% of Jun-Sep rally, High Jun 18
SUP 3: $1.5755 Low Aug 28
SUP 4: $1.5666 61.8% Fibonacci of Jun-Sep rally
USD/JPY: Breaks Below Kijun Line, Eyes 100-DMA. USD/JPY leaves another doji, but has moved lower in today’s session. The pair moved towards the 200-DMA before declining and we see initial support at Y79.08, Friday’s low. Further support seen as the 55 and 100-DMAs at Y78.79/86. Bears will look for a move towards these two moving averages, however, bulls have tried to break above Y79.64/68 for the past three sessions and shouldn’t be ruled out.
RES 4: Y80.16 Nov 2 resistance line
RES 3: Y80.00/04 High Oct 23, 23.6% Fib Sep-Nov rally
RES 2: Y79.76/82/88 Nov 7 low, 38.2% Fib of Mar-Sep decline, Tenkan line
RES 1: Y79.64/68 38.2% Fib Sep-Oct rally, 200-DMA & Aug high
LATEST PRICE: Y79.25
SUP 1: Y79.08 Low Nov 9
SUP 2: Y78.79/86 55-DMA, 100-DMA
SUP 3: Y78.59 76.4% Fib of Sep-Oct rally
SUP 4: Y78.40 Top Ichimoku cloud
EUR/JPY: Trades In Ichimoku Cloud, Bears Eye 100-DMA. EUR/JPY moves into the Ichimoku cloud, bears now eye the cloud base at Y99.40. Ahead of this, initial support seen from the 100-DMA at 99.68. The pair did test the Ichimoku cloud top as resistance at Y101.07, however, failed to hold above. Bulls will continue to try and reach this level. The pair trade just above the 38.2% retracement
level at Y100.59, the break below this level was not sustained.
RES 4: Y102.87 21-day moving average
RES 3: Y102.21/38 Tenkan line, Kijun line
RES 2: Y102.12/16 Former 23.6% Fib, 200-day movng average
RES 1: Y101.52 55-day moving average
LATEST PRICE: Y100.60
SUP 1: Y99.54/55/64/68 Lows 11, 13, 27 Sep, 100-DMA
SUP 2: Y99.35/40 50.0% of Jul-Oct rally, Ichimoku cloud base
SUP 3: Y98.12 61.8% of Jul-Oct rally
SUP 4: Y97.99 Low Sep 5
EasyForexNews Research Team