EUR/USD: Outlook Remains Bearish Whilst Below 200-DMA. Outlook remains bearish whilst below the 200-day moving average, which is today valued at $1.2810. From here, support is at the 5-day moving average at $1.2736 and break favours move to the 21-week moving average at $1.2658. The daily studies although recovering from oversold territory, are still maintaining their bearish trends.
RES 4: $1.2917 50.0% of $1.3172-$1.2662
RES 3: $1.2880/93 Resistance line from Oct 17, 55-DMA
RES 2: $1.2859 21-DMA,
RES 1: $1.2810/26 200-DMA, Low Oct 11
LATEST PRICE: $1.2728
SUP 1: $1.2658 21-Week moving average
SUP 2: $1.2633/48 Lower daily Bollinger band, 100-day moving average
SUP 3: $1.2608 50.0% Retracement of Jul/Sep rally
GBP/USD: Suffers Minor Test Of 200-Day Moving Average. The pair suffered a minor test of the 200-day moving average at $1.5852, and has managed to bounce. Also noted is the 55-week and 200-week moving average’s at $1.5807 and $1.5764, respectively. Initial resistance is at $1.5814/39, where former is level that held downside on Oct 23. The daily studies still remain bearish, albeit oversold.
RES 4: $1.6125/35 Resistance line from 21 Sep, High 2 Nov
RES 3: $1.6043/59 High 7 Nov, 55-day moving average
RES 2: $1.5990 21-day moving average
RES 1: $1.5914/39 Low Oct 23, 100-week moving average
LATEST PRICE: $1.5859
SUP 1: $1.5850/52 Hourly low, 200-day moving average
SUP 2: $1.5807/21 55-week moving average, Lower daily Bollinger band
SUP 3: $1.5789/93 50.0% of Jun-Sep rally, High Jun 18
SUP 4: $1.5755/64 Low Aug 28, 200-week moving average
USD/JPY: Bear-Divergence Signals On Daily Studies. Bear-divergence signal on daily studies continues to caution dollar bulls and failure ahead of $81.49 — 61.8% Retracement of Mar-Sep decline from Y84.18 to Y77.13 is seen encouring profit-taking for longs. Initial support is at 23.6% of Y79.08 to Y81.46 move, with Y80.68 below and nothing significant until Y80.27/31, where the former is the 50.0% of the above move.
RES 4: Y82.94 High 4 Apr
RES 3: Y82.52 76.4% Retracement of Mar-Sep decline
RES 2: Y81.69/78 2% Moving Average Envelope, High Apr 20
RES 1: Y81.46/49 High 15 Nov, 61.8% Retracement of Mar-Sep decline
LATEST PRICE: Y81.06
SUP 1: Y80.90 23.6% of Y79.08 to Y81.46
SUP 2: Y80.68 High 2 Nov
SUP 3: Y80.27/31 50.0% of Y79.08 to Y81.46, High Nov 14, Tenkan Line
SUP 4: Y79.98 21-day moving average
EUR/JPY: 7-Month Resistance Line Caps At Y103.93. Resistance line from April 2 capped topside yesterday and is today valued at Y103.93. Whilst this caps, the risk is on correction lower with not much support seen until the Kijun line of the Ichimoku cloud at Y102.45. Below here, strong band of support is seen located at Y102.16/20, which is the Tenkan line & also where 5 & 200-DMA’s intersect
RES 4: Y105.58 High 4 May
RES 3: Y104.82 61.8% Fibonacci of Mar-July decline
RES 2: Y104.59/63 Monthly high Oct 23, Recovery low 16 Apr
RES 1: Y103.93/99 Resistance line from Apr 2, High Nov 1, Nov 15
LATEST PRICE: Y103.34
SUP 1: Y102.46 Kijun line of Ichimoku cloud
SUP 2: Y102.16/20 Tenkan line, 200-day & 5-day moving average
SUP 3: Y101.77 55-day moving average
SUP 4: Y101.59 Ichimoku cloud top
EasyForexNews Research Team