EURUSD Current price: 1.3683

EURUSD

Good morning. The euro has weakened after a German official suggested that Greece go to the IMF for help.

Daily chart and we have a doji through the 50 SMA. Looking at the 1 hr chart we can see that we have pushed through support at 1.3708 (23.6%). We are now looking slightly oversold and have hit the 200 SMA. We are also at 161.8% of the first wave down. This should be just a correction higher before the next leg lower down towards 1.3576. A push through 1.3730 would negate this view

Support levels: 1.3668 1.3650 1.3576

Resistance levels: 1.1.3708 1.3726 1.3779

GBPUSD Current price: 1.5283

GBPUSD


Daily chart shows spike higher through 1.5350. This is a major level for GBPUSD (23.6% of the major wave 3 DAILY). The move overnight looks corrective though so we move higher before the next leg down. A break of the high should only take us up to 1.5430. A move through 1.5200 and the first target will be 1.5100

Support levels: 1.5230 1.5200 1.5100

Resistance levels: 1. 5350 1.5383 1.5430

USDJPY Current price: 9017


USDJPY

Stuck in the channel still (9000 -9071). We have a slight bias to break the base line with the pair now making lower lows, under 50 RSI and below our major moving averages. First level to watch would be 8963 followed by 8816 if this is to be seen as a large Head and Shoulders formation.

Support levels: 9000 8965 8900

Resistance levels: 9050 9071 9100


USDCHF Current price: 1.0572

USDCHF

We have talked about the 1.0511 level for some time now. We managed to spike through to 1.0507. I will need to consult the rule book to see if the spike counts as a breach of the level and if so makes the Elliott Wave count invalid. At the moment we are pausing at the previous support now resistance at 1.0577. A push through here and 10627-40 comes into play before we see the next resistance. A push through 1.0511 (although unlikely) should take us down to 1.0483 and 1.0400

Support levels: 1.0511 1.0483 1.0400

Resistance levels: 1.0577 1.0627 1.0650

Have a great day