Fresh 2014 lows continue for the EUR/USD with bears firmly focused on the $1.2042 2012 low. O/S daily studies and the Bollinger band base are seen as key concerns for bears. In saying that, bulls now need a close above $1.2254 to ease bearish pressure and above $1.2302 to shift overall focus back to the $1.2435-1.2599 resistance region where the 55-DMA and falling daily trend line are located. A break of the 2012 low sees bears targeting 2010 lows at $1.1881.
RES 4: $1.2302 Hourly resistance Dec 19
RES 3: $1.2254 High Dec 25
RES 2: $1.2226 Hourly resistance Dec 26
RES 1: $1.2165 Low Dec 23 now resistance
LPRICE: $1.2131
SUP 1: $1.2089 Bollinger band base
SUP 2: $1.2042 2012 Low July 24 2012
SUP 3: $1.1958 Low June 10 2010
SUP 4: $1.1881 2010 Low June 7 2010
Fresh 2014 lows last Tuesday confirmed immediate focus on the $1.5425-62 region with bears looking for a close below to initially target $1.5204. The Bollinger band base remains the key concern for bears and may limit follow through. Bulls continue to look for a close above $1.5608 to ease bearish pressure and above $1.5684 to confirm breaks of the 21-DMA & channel top, shifting immediate focus to the $1.5788-1.5825 region where the 55-DMA is located.
RES 4: $1.5684 High Dec 19
RES 3: $1.5626 21-DMA
RES 2: $1.5608 High Dec 23
RES 1: $1.5528 Alternating hourly support/resistance
LPRICE: $1.5510
SUP 1: $1.5486 2014 Low Dec 23
SUP 2: $1.5481 Bollinger band base
SUP 3: $1.5462 Low Aug 30 2013
SUP 4: $1.5425 Low Aug 28 2013
The recovery from ¥115.57 continues to hesitate ahead of ¥121.00. Initial support is remains in the ¥119.71-91 region with bears needing a close below ¥119.71 to confirm an easing of bullish pressure and below the 21-DMA to shift initial focus to the ¥117.93-118.26 region where the rising daily channel base off Oct lows is located. Bulls continue to look for a close above ¥121.00 to reconfirm bullish pressure and retain immediate focus on the 2014 high and overall focus on the 2007 high at ¥124.16.
RES 4: ¥124.16 2007 June 2007
RES 3: ¥121.85 2014 High Dec 8
RES 2: ¥121.00 High Dec 9
RES 1: ¥120.82 High Dec 24
LPRICE: ¥120.34
SUP 1: ¥119.91 Low Dec 25
SUP 2: ¥119.71 Hourly support Dec 22
SUP 3: ¥119.53 21-DMA
SUP 4: ¥118.26 Low Dec 18
Yet another failed attempt to take out the 21-DMA has resulted in a decent sell-off that confirms a break of the rising daily trend line from late Oct and sees immediate focus now on the ¥145.94 support. Bears look for a close below ¥145.94 to shift focus back to the ¥144.77-95 region. Bulls now need a close above ¥146.74 to ease the current bearish pressure and above the 21-DMA to shift overall focus back to 2014 highs.
RES 4: ¥148.37 Hourly resistance Dec 9
RES 3: ¥147.11 21-DMA
RES 2: ¥146.74 Hourly resistance Dec 29
RES 1: ¥146.37 Low Dec 27 now resistance
LPRICE: ¥145.92
SUP 1: ¥145.94 Low Dec 22
SUP 2: ¥145.58 Low Dec 18
SUP 3: ¥145.25 Bollinger band base
SUP 4: ¥144.95 Low Dec 16
The correction lower from last week’s high has seen immediate focus shift to the £0.7798-0.7801 region and overall focus back to the key £0.7764-66 region where 2012 and 2014 lows are located. Bulls need a close above £0.7870 to confirm an easing of bearish pressure and above £0.7923 to confirm breaks of key DMAs and to shift overall focus back to the £0.7991-0.8067 region where layers of resistance are located
RES 4: £0.7991 Falling daily trend line
RES 3: £0.7954 High Dec 17
RES 2: £0.7923 High Dec 18
RES 1: £0.7870 High Dec 23
LPRICE: £0.7816
SUP 1: £0.7798 Low Nov 6, Falling daily channel base
SUP 2: £0.7777 Bollinger band base
SUP 3: £0.7766 2014 Low Sept 30
SUP 4: £0.7764 2012 Low July 23 2012