EUR/USD

The Euro bounces strongly on dollar-negative US elections results, leaving temporary base at 1.2770 zone, with break below important 1.2800 support, proved to be false for now. With hourly bulls gaining pace and indicators well in the positive territory, 4h chart outlook shows prevailing bear-trend is now fading, but to give more credibility and confirm reversal, break above important 1.2880/1.2900 zone (previous base / daily Ichimoku cloud top / 55 day EMA / channel resistance) is required. Sustained break above 1.2900 handle, between 50 % and 61.8% of 1.3020/1.2762 descend, would avert immediate downside risk and bring the pair back to two-month range. On the downside, 1.2840/25 zone (05 Nov high / 200 day MA), offers good support, while slide below 1.2800 would signal resumption of larger downtrend from 1.3138.

Res: 1.2873, 1.2880, 1.2890, 1.2900
Sup: 1.2840, 1.2825, 1.2800, 1.2783

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GBP/USD

Hourly structure turns positive, as the price finds footstep at 1.5956, with subsequent bounce through 1.6000 handle retracing 38.2% of 1.6174/1.5956 descend at 1.6040. As 4h studies start to point higher, break here, also 55 day EMA and regain of 1.6090, Fib 61.8% / 1.6100, round figure resistance, would confirm near-term bullish stance. Otherwise, lower boundaries of near-term range, would remain in focus. Daily structure is in neutral mode, as the price remains entrenched within 1.5900/1.6170 range, since mid-October.

Res: 1.6040, 1.6066, 1.6091, 1.6100
Sup: 1.6024, 1.6000, 1.5996, 1.5967

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USD/JPY

Near-term price action moves in a sideways mode, as previous high at 80.67 stays intact for now and downside remains protected at 80.00 and 79.80, overnight’s spike low and 61.8% of 79.27/80.67 upleg. Hourly studies are still in the negative zone, while 4h indicators are losing traction. Regain of yesterday’s high at 80.43 to improve and shift focus higher. Conversely, losing 80.00/79.80 support zone, would revive bears and open way for stronger reversal towards Fib 38.2% of 77.94/80.67 at 79.63 and key near-term support at 79.27, 30 Oct low / 50% retracement.

Res: 80.43, 80.55, 80.67, 81.00
Sup: 80.00, 79.80, 79.63, 79.27

usdjpy


USD/CHF

The pair loses ground after unsuccessful attempt to clear 0.9430/36 barrier and fresh weakness below 0.9400 handle, as signaled by hourly RSI and MACD divergence. With hourly indicators in the negative territory and 4h ones descending from overbought area, further correction is seen likely, as the price cracks 200 day MA and daily Ichimoku cloud base, with Fibonacci supports at 0.9360 and 0.9335, seen next. Loss of 0.9300 handle, also Fib 61.8% of 0.9213/0.9454, would be bearish. On the upside, lift above initial 0.9400 barrier, is required to re-focus 0.9436/54.

Res: 0.9400, 0.9418, 0.9448, 0.9454
Sup: 0.9379, 0.9362, 0.9335, 0.9305

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