EUR/USD Price: 1.3307
Bullish Momentum looks to continue in the Immediate-Term, with a Test of the 1.3130’s Highs as Price finds Dynamic Support @ 1.3284 with the Hourly 20SMA for Buoyancy. RSI Readings of “58” indicate Consolidative Behavior coupled with a Horizontal Static Range with the Daily Pivot of 1.3237 and the Highs of 1.3330’s.
Downside Risk finds Price falling below Daily Static Support at 1.3186 followed by Dynamic Support @ 1.3135.
Continuation sees a return to Bearish Bias with contact Confluence @ the Hourly 200SMA and Static Support at 1.3076, respectively. With this Level maintained as Support, Bullish Sentiment may continue despite the deep Corrective Behavior. The Uptrending L.R. Channel may find Consolidation as Price moves into the Horizontal Static Range moving forward.
Support levels: 1.3237 1.3186 1.3135 1.3076
Resistance levels: 1.3296 1.3334 1.3366 1.3402
GBP/USD Price: 1.4831
Similar to EUR/USD in Sentiment, Cable maintains potential Re-Test Behavior of the 1.4850’s High while largely maintaining the 1,4837 Areas. The Hourly 20SMA is providing Dynamic Support @ 1.4782, while a Breach of this Level brings Depreciation to the 1.4727 Daily Pivot. Further Continuation sees 1.4684 Daily Static Support, followed dynamically by 1.4641 where the Hourly 200SMA is slightly below @ 1.4627. Bearish Sentiment is not regained with Confidence if this Area holds, as the 20SMA/200SMA Bullish Cross is still highly in favor. The L.R. Uptrend Channel is finding Adherence, although Horizontal Consolidation may develop moving forward in the Near-Term out of the Channel.
Support levels: 1.4782 1.4727 1.4684 1.4641
Resistance levels: 1.4837 1.4878 1.4921 1.4947 1.4988
USD/JPY Price: 97.34
Corrective Bias continues as price looks to Retrace from the 97.90’s Highs, where Confluence of Dynamic Support is found @ the 97.36 Daily Pivot Resistance and the 20SMA as Support. This Cluster Area holds Downside-Risk, as 97.06 Daily Static Support is to follow, with Congestive Dynamic Support @ 96.87 in the Immediate-Term. Further Depreciation sees a Hourly 200SMA/20SMA Bearish Cross where 96.48 and 96.09 look to collapse having a Double-Bottom-Type Scenario in place @ the 95.70’s Low. Currently, RSI Reading of “53” and the Cluster Area of the 20SMA/Daily Pivot finds relative Neutrality in Sentiment.
Support levels: 97.30 97.06 96.87 96.46 96.09
Resistance levels: 97.36 97.66 97.92 98.26
USD/CHF Price: 1.1303
Deep Bearish Momentum continues as price look for “Basing” Behavior at the Daily Static Support Areas of 1.1279. RSI Reading of “31” provide Sentiment Confirmation, as does the Hourly 20SMA providing Dynamic Price Resistance in Directionality. A Horizontal Range may bring Consolidation for Retracement to begin with the 1.1297-1.1383 Area to define Price in the ranging Channel with Price looking towards the Daily Pivot @ 1.1371.
Further Gains will see 1.1407 Static Resistance followed dynamically by 1.1443 as Bullish Bias begins to return if the 1.1480’s Congestion-Zone Resistance Area is seen and maintained with Confidence in the near-Term.
Support levels: 1.1334 1.1297 1.1234 1.1173
Resistance levels: 1.1371 1.1407 1.1442 1.1481
