EUR/USD ended the week a little higher but below the Jul 11 high at $1.3207, despite this weekly studies have appeared to reverse higher. Bulls will look to test first initial resistance at $1.3174. A break of here tests the Jul 11 high and above here we could see bulls take control, however, daily studies are near overbought and monthly studies remain bearish. Initial support is around $1.3081-86
R 4: $1.3261/79 Low Jun 13
R 3: $1.3228/37/43 Daily Bolli top, Reversal high May 1
R 2: $1.3200/07 High Apr 17, High Jul 11
R 1: $1.3164/70/74 Hourly high, High Jul 16
Latest price: $1.3150
S 1: $1.3081/83/86 200-DMA, Low Jul 17
S 2: $1.3062 55-DMA
S 3: $1.3029/32/34 21-DMA, Jul 3 high, 100-DMA
S 4: $1.2985/94/98/3008 Lows Jun 26, Jul 15, High May 22
GBP/USD moved up and now tests initial resistance at $1.5297, hourly high. A break above here could accelerate gains to the further res at $1.5394. However, daily studies are becoming overbought while monthly studies slide initial support is at $1.5222/30. But the weekly chart shows a confirmed bullish piercing pattern and bullish studies, adding pressure higher.
R 4: $1.5472 Daily Bollinger band top
R 3: $1.5394 61.8% of $1.5752-1.4814
R 2: $1.5363/68 Jun 21 low, High Apr 19
R 1: $1.5283/97 55-DMA & Hourly high
Latets price: $1.5280
S 1: $1.5222/30 High Jul 11, 5-DMA
S 2: $1.5169/72/73/78 High Jul 16, 21-DMA,
S 3: $1.5028/35/79 Low Jul 15, Low Jul 17
S 4: $1.4998/99/5009/18 Mthly Bolli base, Lows Jul 11, May 29, High Jul 10
USD/JPY failed to break above May 22 res line again, now has three points of contact making it a stronger level and struggles to remain above key Y100.00 level. Monthly studies are overbought and daily/weekly momentum studies are lower, initial supp at Y99.56/61. Break below tests lows of Jul 17 & 15 at Y99.04/08. However, failure here would see a retest of initial res at Y100.86/87.
R 4: Y102.20/50/53 Monthly Bollinger band top, Highs May 28, 29
R 3: Y101.97/102.08 Lows May 20, 21
R 2: Y101.39/-71 high Apr 2009, High Jul 8, Dly Bolli top
R 1: Y100.86/87 Resistance line from May 22, High Jul 19
Latest price: Y99.95
S 1: Y99.56/61 55-DMA, 21-DMA & Hourly low
S 2: Y99.04/08 Lows Jul 17, 15
S 3: Y98.57/76 Daily Ichimoku cloud top & 50% Y103.74-93.79
S 4: Y98.11/16/26/27 100-month MA, Weekly Tenkan, 100-DMA, Low Jul 11
EUR/JPY fades from the daily Bollinger band top after struggling to break above for the past three sessions, initial resistance now at Y132.40/44. However, focus now turns to support as daily and monthly studies look overbought, bears already testing initial supp at Y131.12/15. A break below here could reverse studies and test Y130.23/33.
R 4: Y134.68 Weekly Bollinger band top
R 3: Y133.80/85 Reversal high May 22, Rising channel top
R 2: Y132.77/87 High May 14, High May 23
R 1: Y132.40/44 High May 13, Hourly high
Latets price: Y131.50
S 1: Y131.12/15 High Apr 11 & Jul 2, Hourly low
S 2: Y130.23/33 Daily Tenkan line
S 3: Y129.70-130.01 High Jun 21, 21-DMA, channel base, Low May 23, 55-DMA
S 4: Y128.93/98 High May 1, Low May 8