EURUSD
Declined from 1.4867, 22 Sep key lower top, to reach 1.2329, 2008 low on 28 Oct, before rebounding to 1.3300 on 30 Oct. A bearish triangle formed and was completed on a break below 1.2710, trendline support. Scope is now seen to test 1.2328, 28 Oct pivot low, and ahead of next key target at 1.2134, 50% retracement of 0.8228/1.6040 ascend. Further weakness targets 1.1930/1.1860, while 1.2580/1.2633 area caps.
Res: 1.2580, 1.2645, 1.2653, 1.2675
Sup: 1.2328, 1.2267, 1.2200, 1.2134
GBPUSD
Extended underlying decline to reach 1.5260 on 24 Oct before undergoing a recovery phase that stalled at 1.6671 on 30 Oct. Bears reasserted here and a steady relapse has followed. Bear triangle at 1.5480 and loss of 1.5260 projects a fall to 1.4450. Immediate cap now stands at 1.4978, above which would risk 1.5260 before fresh push lower.
Res: 1.5000, 1.5034, 1.5083, 1.5100
Sup: 1.4802, 1.4702, 1.4633, 1.4450
USDJPY
Fell from 110.67, 15 Aug high, to post a fresh 2008 low at 90.87 on 24 Oct. A corrective base then triggered a rebound that stalled at 100.57, just below 100.77, 50% retracement of 110.67/90.97 decline. Below, 97.00/05 trigger, completed a top and 94.48 has been seen so far. Minor bounce and consolidation may precede a fresh weakness to 93.15, while 96.35/75 caps.
Res: 96.45, 96.75, 97.05, 97.43
Sup: 94.50, 94.00, 93.15, 92.48
USDCHF
Firmed off 1.0690, 22 Sep low, to reach 1.1803 high on 04 Nov. A corrective dip followed to 1.1550, ahead of a bounce to 1.1798. Consolidation under 1.1798 to 1.1803 formed a trend continuation that signals upside to 1.2000, ahead of a trendline target at 1.2150 near-term. Wednesday’s spike low at 1.1762 now underpins advance, only here dampens short-term.
Res: 1.1960, 1.2000, 1.2026, 1.2065
Sup: 1.1845, 1.1817, 1.1803, 1.1762
