New recovery high above channel off 1.3832 (see graph): currently back above the inverted channel top off June low (1.4697 today) and back above 1.4719 (Dec 18 2008 high + neckline of massive daily Double Bottom).
Support area at 1.4784/ .4768 (reaction lows hourly), with next levels at 1.4744 (daily Short Term Moving Average↑), ahead of 1.4733/ .4729 (break-up hourly/daily envelope bottom), where pause favored.
1.4633 = daily Medium Term Moving Average↑: ideal area to stay above to keep current short term mood on €.
1.4438 = break-up hourly: ideal area to stay above to keep current medium term mood intact on €.
Resistance at 1.4843/ .4845 (today’s high? + daily envelope top/ Equality C wave off 1.2457), with next levels at 1.4867 (Sept 2008 spike + weekly envelope top), where pause favored.
If wrong, next levels at 1.4904 (daily Bollinger top), ahead of 1.4968 (daily Starc top): tough on 1st attempts, amid overbought readings and threat of bearish divergences in the making.
USD/JPY: (90.75) Back below 91.65
EUR/GBP: (.9029) Has met potential of channel break off .8458
EUR/JPY: (134.40) Toying back with 134.41
