EUR/USD: Approaching Fibonacci Resistance At $1.3052. Break above $1.3027 Fibonacci level, 76.4% of $1.3140-$1.2662 now favours move to $1.3052, which is the 76.4% of $1.3172-$1.2662move and $1.3058, as current level of Bollinger band top. Above here, the 2012 yearly channel top is valued at $1.3067. All of these are key resistance levels, and fade on the approach of the channel top not ruled out as daily stochastic study looks overbought.
RES 4: $1.3386 High 27 Mar
RES 3: $1.3140/72 High 17 Oct, Failure high 17 Sep
RES 2: $1.3067/84 Resistance line from 29 Feb, High 22 Oct
RES 1: $1.3052/58 76.4% of $1.3172-$1.2662, Bollinger band top
LATEST PRICE: $1.3029
SUP 1: $1.2968 Low 30 Nov
SUP 2: $1.2915 55-day moving averge
SUP 3: $1.2869/80 Low 23 Nov, Low 28 Nov
SUP 4: $1.2843 21-day moving average
GBP/USD: 55-DMA Continues To Cap At $1.6051. Topside remains capped by the 55-day moving average at $1.6051, despite minor break on Friday and more importantly the $1.6069, which is the 50.0% of the decline from $1.6309 to $1.5829. Above here, a 2-month channel resistance line is today valued at $1.6074, falling 5 pips/session. Whilst this caps, the m/t risks remain skewed lower.
RES 4: $1.6175 Failure high 1 Nov
RES 3: $1.6135 High 2 Nov
RES 2: $1.6074 Resistance line from 21 Sep
RES 1: $1.6051/69 55-DMA, 50.0% of $1.6309-$1.5829
LATEST PRICE: $1.6042
SUP 1: $1.5997 Low 26 Nov
SUP 2: $1.5957/69 21-day moving average, 38.2% of $1.5829-$1.6056
SUP 3: $1.5919 Low Nov 11
SUP 4: $1.5829/64 Low 15 Nov, 200-day moving average
USD/JPY: Bear-Divergence Signal & Approaching 2011 Downtrend. Bear-divergence signals noted on daily studies and given proximity of 2011 downtrend at Y83.12, risk remains on a fade lower. Initial support is at the Tenkan line of the Ichimoku cloud, which is valued at Y82.24 and below here, not much significant support until Y81.49/69, where latter held correction lower previously.
RES 4: Y83.94 High 16 Mar
RES 3: Y83.30 High 2 Apr
RES 2: Y83.12 Resistance line from 6 Apr, 2011
RES 1: Y82.84/85/94 High 22 Nov, 38.2% of Y94.99 to Y75.35, High 4 Apr
LATEST PRICE: Y82.30
SUP 1: Y82.24 Tenkan line of Ichimoku cloud
SUP 2: Y81.49/69 23.6% of Y77.13-Y82.84, Low 28 Nov
SUP 3: Y80.68/99 High 2 Nov, 21-day moving average
SUP 4: Y80.96 Kijun Line
EUR/JPY: Bear-Divergence Signals Caution Bulls. Cross breached the Fibonacci level on Friday at Y107.35 – 76.4% of March to July decline but the daily studies are throwing caution to the wind with both the stochastic and momentum showing bear-divergence signals. Initial support seen at the 5-day moving average at Y106.72.
RES 4: Y109.24 High 1 Nov
RES 3: Y108.73 50.0% of Y123.33 to Y94.12
RES 2: Y108.00/15 High 20 Apr, Projected channel top from July 25 low
RES 1: Y107.67 High 30 Nov
LATEST PRICE: Y107.25
SUP 1: Y106.72 5-day moving average
SUP 2: Y106.16 Low 29 Nov
SUP 3: Y105.28/88 Low 28 Nov, Tenkan line of Ichimoku cloud
SUP 4: Y104.59 High 23 Oct
EasyForexNews Research Team