EUR/USD: Breaks May 2011 Trend Line – Fibo Levels Cap. A minor break above long-term resistance line from May 2011 has been seen at $1.3000, but topside so far capped by the daily Bollinger band top at $1.3009, but key resistance noted at Fibonacci levels of $1.3027/52, where the former is the 76.4% of the decline from $1.3140-$1.2662 and latter the 76.4% of $1.3172-$1.2662 move.
RES 4: $1.3140/72 High 17 Oct, Failure high 17 Sep
RES 3: $1.3076/84 Resistance line from 29 Feb, High 22 Oct
RES 2: $1.3027/52 76.4% of $1.3140-$1.2662, 76.4% of $1.3172-$1.2662
RES 1: $1.3009 Daily Bollinger band top
LATEST PRICE: $1.2955
SUP 1: $1.2928/44 5-day moving average, Low 26 Nov
SUP 2: $1.2869 Low 23 Nov
SUP 3: $1.2832 21-day moving average
SUP 4: $1.2801 200-day moving average
GBP/USD: Approaching Key Resistance Area At $1.6062/69. Approaching key resistance area at $1.6062/69, which is value of 55-DMA and also the 50.0% of the decline from $1.6309 to $1.5829. Above here, a 2-month channel resistance line is located at $1.6093 – falling 5 pips/session and m/t risks remain skewed lower whilst this caps.
RES 4: $1.6175 Failure high 1 Nov
RES 3: $1.6135 High 2 Nov
RES 2: $1.6093 Resistance line from 21 Sep
RES 1: $1.6062/69 55-DMA, 50.0% of $1.6309-$1.5829
LATEST PRICE: $1.6024
SUP 1: $1.5995/97 5-day moving average, Low 26 Nov
SUP 2: $1.5919 Low Nov 11
SUP 3: $1.5829/59 Low 15 Nov, 200-day moving average
SUP 4: $1.5806 55-week moving average
USD/JPY: Daily Studies Turning Lower From Overbought. Dollar is consolidating lower following failure ahead of Y82.85 – 38.2% of Y94.99 to Y75.35 move. The daily studies are turning lower from overbought territory with stochastic in sell-mode, which implies risk of further pullback. Support seen at Y81.49/76, where former is the Tenkan line and also coincides with 23.6% of Y77.13-Y82.84.
RES 4: Y83.30 High 2 Apr
RES 3: Y83.14 Resistance line from 6 Apr, 2011
RES 2: Y82.84/85/94 High 22 Nov, 38.2% of Y94.99 to Y75.35, High 4 Apr
RES 1: Y82.32 5-day moving average
LATEST PRICE: Y82.10
SUP 1: Y81.49/76 Tenkan line, 23.6% of Y77.13-Y82.84, High 20 Nov
SUP 2: Y80.68/75 High 2 Nov, 21-day moving average
SUP 3: Y80.96 Kijun Line
SUP 4: Y79.79 200-day moving average
EUR/JPY: Failure Ahead Of Y107.35 Fibonacci – Risk Lower. Failure ahead of Y107.35 – 76.4% of March to July decline now leaves risk of further correction lower to Y105.72 support ahead of Y104.57/59, where former is the Tenkan line of Ichimoku cloud and latter the October high. The daily studies are turning lower from overbought territory, with stochastic on verge of a bearish cross.
RES 4: Y109.24 High 1 Nov
RES 3: Y108.73 50.0% of Y123.33 to Y94.12
RES 2: Y108.00 High 20 Apr
RES 1: Y107.14/35 High 26 July, 76.4% of Mar-July decline
LATEST PRICE: Y106.20
SUP 1: Y105.72/73 Low 22/23 Nov
SUP 2: Y104.57/59 Tenkan line, High 23 Oct
SUP 3: Y103.62/69/74 21-day moving average, Low 20 Nov, Kijun line
SUP 4: Y103.29 Kijun & Tenkan line of Ichimoku cloud
EasyForexNews Research Team