New year high, with move above 1.3310 (monthly Downtrendline off 1992 on synthetic charts) and above 1.3469 (LT daily Downtrenline off 1992 on same charts): positive Medium Term outlook for € while above.
Currently back in channel off 1.2877, with 1.3585 = neckline of a Short Term Double Top? (see graph).
1st Support area at 1.3562 (today’s low? + daily envelope bottom), with next levels at 1.3540 (April 23 low + daily Bollinger midline + see below): ideal area to stay above to keep current positive Short Term mood intact on €..
Resistance area at 1.3611 (daily Short Term Moving Average↓), with next levels at 1.3643/ .52 (daily envelope top/ breakdown hourly), ahead of 1.3683 (new historic high + weekly Bollinger top): tough on 1st tests.
If wrong, 1.3709/ .3724 = daily channel top off 2005 low / daily Bollinger top), where a downwards reaction is favored, amid overextended readings.
For in-depth insight on other currency pairs download PDF below:
- USD/JPY: (120.01): Trying to settle back in the daily channel off 115.16 (bottom at 119.85 today)
- EUR/GBP: (.6808) Toying back with redrawn Downtrendline
- EUR/JPY: (162.90) New Long Term high in channel off 152.67
