EUR/USD: Fibonacci & 55-DMA Next Resistance At $1.2911/17. The pair breaks above $1.2901 Fibonacci level — 50.0% of the decline from $1.3140 to $1.2662, but needs to clear above $1.2911/17, where former is the 55-day moving average and latter the 50.0% of the decline from $1.3172 to $1.2662. Whilst the daily studies are pointing higher, the hourly oscillators are overbought.
RES 4: $1.3021/23 High 31, 25 Oct
RES 3: $1.2977/80/83 61.8% of $1.3172-$1.2662, Bollinger top, High 1 Nov
RES 2: $1.2951 High 2 Nov
RES 1: $1.2911/17 55-DMA, 50.0% of $1.3172-$1.2662
LATEST PRICE: $1.2892
SUP 1: $1.2847 5-day moving average
SUP 2: $1.2803/23 200-day moving average, 21-day moving average
SUP 3: $1.2730 Low 19 Nov & 61.8% of $1.2662 to $1.2837
SUP 4: $1.2703 76.4% of $1.2662 to $1.2837
GBP/USD: Topside Stalls At 21-Day Moving Average. GBP is stalled at the 21-day moving average yesterday and is today valued at $1.5969. Failure to break above here is likely to see momentum wane, and risk revisit of the 200-day moving average at $1.5856. Initial support is at the 5-day moving average at $1.5936 and dip to $1.5904 Fibonacci not ruled out.
RES 4: $1.6102/35 Resistance line from 21 Sep, High 2 Nov
RES 3: $1.6043/61/67 High 7 Nov, 55-DMA, 50.0% of $1.6309-$1.5829
RES 2: $1.6012 38.2% of $1.6309 to $1.5829
RES 1: $1.5969/78 21-day moving average, High 22 Nov
LATEST PRICE: $1.5943
SUP 1: $1.5936 5-day moving average
SUP 2: $1.5904 50.0% of $1.5829-$1.5978
SUP 3: $1.5829/56 Low 15 Nov, 200-day moving average
SUP 4: $1.5805 55-week moving average
EUR/JPY: Capped Below L-T Res Line/Weekly Ichimoku Cloud Top. Cross yesterday failed ahead of long-term resistance line from Oct 2009, and is today valued at 106.59. Above here, the weekly Ichimoku cloud top is value at Y106.75. Whilst these levels cap, a correction lower can’t be ruled out. Initial support is at Y105.45/72 and nothing really significant until Kijun/Tenkan line at Y103.46.
RES 4: Y108.73 50.0% of Y123.33 to Y94.12
RES 3: Y108.03 High 20 Apr
RES 2: Y107.35 76.4% of Mar-July decline
RES 1: Y106.59/75 Res line from Oct 2009, Weekly Ichimoku cloud top,
LATEST PRICE: Y106.02
SUP 1: Y105.45/72 5-day moving average, Low 22 Nov
SUP 2: Y104.59 High 23 Oct
SUP 3: Y103.69 Low 20 Nov
SUP 4: Y103.46 Kijun & Tenkan line of Ichimoku cloud
USD/JPY: Fails Ahead Of Y82.85 Fibonacci Level. Failure ahead of Y82.85 — 38.2% of Y94.99 to Y75.35 leaves scope for a pullback, but key upside level is noted at Y83.15 — value of resistance line from 6 Apr, 2011. Risk is on a fade from here as daily studies approach overbought territory. Minor support seen at Y82.04 and Y81.76 below ahead of $80.51/68 area.
RES 4: Y83.94 High 16 Mar
RES 3: Y83.30 High 2 Apr
RES 2: Y83.15 Resistance line from 6 Apr, 2011
RES 1: Y82.85/94 38.2% of Y94.99 to Y75.35, High 4 Apr
LATEST PRICE: Y82.17
SUP 1: Y82.04 5-day moving average
SUP 2: Y81.76 High 20 Nov
SUP 3: Y80.51/68 21-day moving average, High 2 Nov
SUP 4: Y80.96 Kijun Line
EasyForexNews Research Team