Has met 2nd target of ST Double Bottom from 1.2642 (1.2800: see graph) and retested daily Downtrendline off year high (1.2808 today), with pair back above LT daily Downtrendline off 2004 high (1.2715)
1st Support area at 1.2745/ .2744 (ST break-up hourly/ yesterday low), with next levels at 1.2724/ .15 (daily envelope/ see above), ahead of 1.2687/ .81 (Nov 03 low): tough on 1st tests. 1.2642/ .37 (see graph + break-up weekly/ weekly envelope): ideal area to stay above to keep current better mood on € intact.
Resistance area at 1.2797 (daily envelope), with next levels at 1.2808/ .19 (current week high), ahead of 1.2832 (Sept 22 high) and 1.2835/ .53 (broken daily Fibonacci Fan Line/ daily Bollinger top), where a pause is expected.
| SUPPORT | RESISTANCE |
| 1.2751/ .45 (daily ST MA↑/ ST break-up hourly) | 1.2797 (daily envelope) |
| 1.2725/ .17 (daily envelope/ see above) | 1.2810/ .19 (see above/ current week high) |
| 1.2702/ .2687 (daily MT MA↑ + daily projection b db tt / kl ) | 1.2832/ .45 (Sept 22 high + see above/ daily Bollinger t ) |
For in-depth insight on other currency pairs:
- USD/YEN: (117.88) Back below neckline of double top
- EUR/GBP: (.6701) Channel bottom off .6822 held
- EUR/JPY : (150.47) Above triangle pattern but near apex
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