Resistance: 1.2955 minor / 1.2997 minor / 1.3045 moderate
Support: 1.2922 minor / 1.2874 moderate / 1.2836 minor
Euro saw a bounce in afternoon New York trade with a long tail in the daily chart though indicators remain bearish with stochastic looking to go oversold while daily macd’s are dropping. Note we look at the 21D EMA at 1.2874 as our initial objective. From the 4H picture we have a mixed view with stochastic heading up while macd’s are flat below the signal line. Hourly charts for their part are also mixed with stochastic flat, just under the overbought levels while macd is rising. Given the mixed intraday picture we prefer remaining sidelined though with the bearish bias in daily charts a scaled sell entry from 1.2955 should be possible.
Resistance: 1.6232 moderate / 1.6259 minor / 1.6300 strong
Support: 1.6212 minor / 1.6189 minor / 1.6162 minor
After a nice bearish open a late surge in New York trade saw Cable closing once again inside the real bodies of the previous weeks spinning tops and doji’s to continue a series of false breakouts from the past week. Among indicators we have macd’s in the process of selling off while stochastic is flat though technically bearish. From the lower time frames we have mixed signals with stochastic heading up and a bearish macd in the 4H level. Hourly charts for their part has more mixed signals with the stochastic dropping and macd up. For now there is little sense of urgency though with the moderate resistance and bearish daily bias we prefer looking for a rejection from 1.6232, a break of 1.6211 may also be seen as an entry.
Resistance: 1.2442 moderate / 1.2479 minor / 1.2511 minor
Support: 1.2389(95) strong / 1.2345 moderate / 1.2317 minor
In the end we saw a mixed close for EURAUD monday with a spinning top as prices remain trapped between a strong support at the 200D SMA and a moderate resistance at 1.2442. From indicators we have daily stochastic crossing higher while the macd is heading down. Intraday we have mixed signals with macd’s flat while the stochastic has just crossed up in the 4H level. Hourly charts for their part has a confluence of buys with stochastic pushing for overbought levels and macd heading up. Note we prefer getting a close above 1.2442 before going long or a close under 1.2389(95) for a bear market though only after the release of the RBA’s Financial Stability Report.
Resistance: 81.22 minor / 81.53 minor / 81.77 moderate
Support: 80.97 moderate / 80.67 minor / 80.40 minor
Like most of the Yen pairs AUDJPY managed to hold on to much of its earlier losses to close with an open bozu though immediate support is moderate. From indicators we have daily stochastic just pushing to oversold levels while macd has a new bear cross. Note we have a clear close under the daily EMA lines. From the 4H picture we have mixed signals as price action in New York was indecisive following a hammer at the close of Europe. We have macd’s still heading down while stochastic is pushing higher. In hourly charts we have mixed signals as stochastic heads down and macd’s point up. Given our moderate support and mixed intraday signals we prefer a buy on dips to the 61.8 Fib of the rally from September 5.
Resistance: 1.0441 minor / 1.0478 minor / 1.0516 moderate
Support: 1.0414 minor / 1.0388 moderate / 1.0367 minor
In the end we saw Aussy bouncing off the 55D EMA with a long tail at the close for a hammer suggesting we may be pushing up going forward. Indicators wise we still see daily stochastic and macd’s with new bearish crossovers. In the lower time frames we have mixed signals from the 4H picture with indecisive candles out of the afternoon trade for New York while macd is flat below the signal line and stochastic is pointing up. Hourly charts for their part are also mixed with stochastic heading lower and macd’s pointing up. For now we prefer remaining sidelined though the 55D EMA is an attractive buy on dips. Note we have the RBA’s financial stability report at 0130GMT best to see the full document before taking action.
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