EUR/USD: Strong Resistance Noted At $1.2826/40. Strong topside resistance come in at $1.2826/40, where forme is the 21-day moving average and latter is the value of the 1-month resistance line. From here, support comes in at $1.2730 — 61.8% of $1.2662 to $1.2837 move and break sees retracement extend to $1.2703. The daily studies are in neutral territory, but momentum is fading.
RES 4: $1.3386 High 27 Mar
RES 3: $1.2917 50.0% of $1.3172-$1.2662
RES 2: $1.2904 55-day moving average
RES 1: $1.2826/40 21-DMA, Resistance line from Oct 18
LATEST PRICE: $1.2757
SUP 1: $1.2730 Low 19 Nov & 61.8% of $1.2662 to $1.2837
SUP 2: $1.2703 76.4% of $1.2662 to $1.2837
SUP 3: $1.2662/64 Low 13 Nov, 21-Week moving average
SUP 4: $1.2644/55 Lower daily Bollinger band, 100-day moving average
GBP/USD: Attempting Another Break Below 100-DMA. Price action is attempting another break below the 100-day moving average at $1.5887 and break below here opens up scope for another test of the 200-day moving average, which is valued at $1.5855. Needs to clear above resistance at $1.5939/43, where the former is the 100-week moving average and latter the 23.6% of $1.6310 to $1.5829 to put bulls in control.
RES 4: $1.6111/35 Resistance line from 21 Sep, High 2 Nov
RES 3: $1.6043/61 High 7 Nov, 55-day moving average
RES 2: $1.5979 21-day moving average
RES 1: $1.5939/43 100-week moving average, 23.6% of $1.6310 to $1.5829
LATEST PRICE: $1.5886
SUP 1: $1.5829/55 Low 15 Nov, 200-day moving average
SUP 2: $1.5804 55-week moving average
SUP 3: $1.5789/93 Bollinger base, 50.0% of Jun-Sep rally, High Jun 18
SUP 4: $1.5755/64 Low Aug 28, 200-week moving average
USD/JPY: Break Above Y81.49 Puts Bulls In Control – For Now. Dollar finally clears above Y81.49 Fibonacci level, 61.8% Retracement of Mar-Sep decline, which is encouraging and risk is on further squeeze higher as daily studies begin to unwind bear-divergence signals. From here, resistance is at the 2.00% moving average envelope at Y82.17 and Y82.35/52, where former is a rising resistance line from Oct 5 and latter the 76.4% of the above move. Support is at Y81.46/49.
RES 4: Y83.16 Resistance line from 6 Apr
RES 3: Y82.94 High 4 Apr
RES 2: Y82.35/52 Resistance line fm 5 Oct, 76.4% of Mar-Sep decline
RES 1: Y82.17 2.00% Moving Average Envelope
LATEST PRICE: Y81.86
SUP 1: Y81.46/49 High 15 Nov, 5-day moving average
SUP 2: Y80.68 High 2 Nov
SUP 3: Y80.27/29 21-day moving average, Kijun Line
SUP 4: Y79.79 200-day moving average
EUR/JPY: Breaks Above Oct High, Y105.29 Fibonacci Eyed. Cross has broken above Oct high at Y104.59 and now leaves very little key resistance until Y105.29 Fibonacci level, 38.2% of Y123.33 to Y94.12 move and coincides with the daily Bollinger band top. Risk is on a fade here.
RES 4: Y108.03 High 20 Apr
RES 3: Y107.35 76.4% Fibonacci of Mar-July decline
RES 2: Y105.58 High 4 May
RES 1: Y105.13/29 Low 2 May, 38.2% of Y123.33 to Y94.12
LATEST PRICE: Y104.58
SUP 1: Y104.17 5-day moving average
SUP 2: Y102.70 Kijun & Tenkan line of Ichimoku cloud
SUP 3: Y102.10/20 55-day & 200-day moving average
SUP 4: Y101.83 Ichimoku cloud top
EasyForexNews Research Team