EURUSD
Continues to coil within narrow range after finding support at 1.2512 low, while a falling wedge drawn off 1.3300, 30 Oct high, continues to unfold. A breakout is due soon with lift over 1.2742, 17 Nov high, hinting corrective bull resumption from 1.2388, 13 Nov low, towards initial 1.2857 high. Losing 1.2512, however, delays and reopens 1.2329, 28 Oct low.
Res: 1.2703, 1.2745, 1.2800, 1.2831
Sup: 1.2566, 1.2546, 1.2512, 1.2400
GBPUSD
The 5-wave decline from 1.8672, 25 Sep reaction high, has set a new 6-year low at 1.4560 on 13 Nov, followed by upswing to 1.5093. Correction shy of 1.5260, 24 Oct old pivot low, warns the 5th wave from 1.6675, 30 Oct lower high, may extend towards its limit at 1.4303, equality of 1.7632/1.5260 downleg. Clearing 1.5260 would spur 38.2% retracement of 1.6675/1.4560 fall at 1.5368.
Res: 1.5055, 1.5093, 1.5160, 1.5186
Sup: 1.4934, 1.4890, 1.4789, 1.4695
USDJPY
Shies off 95.87, 17 Nov weekly low, also near 61.8% retracement of 94.48/98.30 upleg, while a potential 4-day bull pennant takes shape. Further lift above 98.30, 13 Nov high signals next upleg for an initial 99.48 and 100.56, 04 Nov high. Losing 95.87, however, exposes risk back at 95.13 and 94.48/53 congestive lows.
Res: 97.42, 97.56, 97.78, 98.10
Sup: 96.33, 96.03, 95.85, 95.13
USDCHF
Continues to extend upleg off 1.1200, 30 Oct lower rejection. Breach of 1.1798/1.1803 barrier on 11 Nov completed a bull flag that targets a key long-term bear trendline at 1.2150. Through here will open 1.2216/33 then 1.2443. Moving averages and momentum confirm/support bull structure. 1.2015/04 provides immediate support, while only under 1.1968 defers.
Res: 1.2100, 1.2112, 1.2138, 1.2152
Sup: 1.2015, 1.2004, 1.1965, 1.1943
