Resistance: 0.8219 minor / 0.8247 moderate 0.8281 minor
Support: 0.8185 moderate / 0.8168 minor / 0.8134 moderate
Kiwi saw a turn-around in midday New York as asset classes retreated across the board on perceptions of an ineffective QE3 program. We no have price just above the 21D EMA and 38.2 Fib retracement of the rally from September 5 with daily candlesticks showing a confirmed double top breakout. Among indicators we have stochastic pushing to oversold levels while the macd has just crossed lower. In the lower time frames we have a confluence of bears in 4H charts with stochastic just pushing oversold while macd is beginning to open lower. Hourly charts are mixed with stochastic coming off oversold levels while macd is dropping. For now look for a close under 0.8185 for an immediate bear market, otherwise we prefer looking for a rejection from the 0.8247 region.
Resistance: 1.0386 moderate / 1.0414 minor / 1.0441 minor
Support: 1.0354 minor / 1.0323(28) minor / 1.0274 minor
We have a daily close below the EMA lines in Aussy suggesting a possible change in trend the immediate view now calling for a bear market as a weekly double top looms. From the indicators we have daily stochastic pushing oversold while the macd line has just crossed its signal line down. In the 4H picture we continue to see a bearish set of indicators as stochastic pushes oversold and macd drop though candlesticks are at risk of forming a piercing pattern. Hourly charts for their part are mixed with stochastic coming out of oversold areas while macd is bearish. Note price action also has a piercing pattern in hourly candles. Immediate risk seems to call for a pullback though with the 55D EMA as an initial resistance we prefer looking for a possible short under 1.0386.
Resistance: 1.6215 minor / 1.6232 minor / 1.6267 minor
Support: 1.6182 minor / 1.6162 minor / 1.6115(23) moderate
Cable has finally seen a break of the indecisive daily candlesticks for the past week and a half with a daily close around the congestion floor at 1.6182. Daily indicators has macd’s crossing lower while the stochastic is pushing for oversold areas. In the lower time frames we have stochastic oversold while macd is also bearish from the 4H picture. Hourly charts are mixed with a bullish stochastic and macd’s beginning to bottom out. Given the daily close we suspect a top may have developed in GBPUSD with an hourly close under 1.6182 likely to trigger exits. Look to short from under 1.6215 or on a close below 1.6182 for the 21D EMA at 1.6115(23).
Resistance: 1.2910 minor / 1.2940 minor / 1.2971 minor
Support: 1.2891 minor / 1.2874 moderate / 1.2836 minor
Euro tuesday saw a roller coaster ride that sold off twice before eventually closing near the lows though failing to push for the 21D EMA. Among indicators we have a confluence of bears with daily stochastic pushing further into oversold levels while the macd is also pushing lower. Note we have effectively offset the hammer from the previous daily candlestick. In intraday charts we have macd flat just below the signal while stochastic has eased off to oversold levels and candlesticks are indecisive. Hourly charts has an oversold stochastic while the macd is also bearish. Given the moderate support at 1.2874, 21D EMA, we prefer looking for a close below the said price. Alternative entry will be a rejection from 1.2940.
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