Yesterday the Cable ran into a dense resistance zone that includes the monthly pivot point and 20 and 55-day SMAs.
As expected, EUR/USD stumbled ahead of the resistance at 1.3497 and plunged 50 pips before finding support at the area formed by the August high, 100-day SMA and the monthly S1.
Pair peaked to weekly R1 at 0.833, but failed to consolidate there.
After failing to consolidate above the downtrend resistance (connecting July and August highs) pair received a bullish impetus 20-day SMA and has peaked above the mentioned downtrend.
Pair has spend last three days bouncing off and testing 100-day SMA.
After the initial failure to consolidate above the 20-day SMA, pair managed to do so after receiving a push from 55-day SMA.
While neither the monthly R1 nor the 100-day SMA have been able to underpin the pair lately, USD/CHF has just started to show signs of recovery at the June low.
USD/JPY wobbles above the monthly R1, but is nevertheless poised for gains in the long run, being that beneath are strong demand areas and the monthly indicators are bullish.
After touching the support at 1.5898/71, consisting of the weekly and monthly S1 levels, the Pound soared all the way up to the monthly PP at 1.6066/49.
Yesterday EUR/USD was able to close above the August high. But now the single European currency is being sold off ahead of the major resistance at 1.3497, which is created by the weekly R1 and, more importantly, by the up-trend that connects the minima of July 9, September 6 and Nov 4.
Pair found initial support with the October low which could lead to moderate rally.
Pair continues to trade sideways as downtrend resistance (connecting June and July highs) proves to be too much for the pair's bulls at the moment.
Pair continues to and at the moment is facing monthly S1/weekly S2/Fibo 61.8% (September to October rally) at 0.9249/23.
Pair failed initial test at the 20-day SMA, it did not manage to consolidate above it.
As it turned out, being reassured by the daily technicals, we were too quick to suppose that the currency pair has gained a solid ground above the monthly R1 and the 100-day SMA.
The short-term prospects of USD/JPY are now somewhat clouded, being that some of the daily technical studies turned bearish ahead of the resistance at 99.87/76, even though it is formed only by the weekly R1 and the Bollinger band.
Because of the strongly bearish for the Sterling fundamentals the support line at 1.5950 was violated yesterday.
A combination of the monthly S1 and the 100-day SMA did not prove to be as strong as initially estimated—EUR/USD is already probing the August high at 1.3451.
Pair remains somewhat range bound, today increased it and dipped to October low.
Pair continues to struggle with the downtrend (connecting June and July highs) resistance.
Pair continues to depreciate and at the moment is testing the strength of 100-day SMA.
Pair continued it's rally after a bounce off October low and at the moment is consolidating above weekly R1/20-day SMA at 133.74.
Now that USD/CHF has confirmed the area at 0.9204/0.9186 (monthly R1 and 100-day SMA) as the new support, the U.S. Dollar is well-positioned to continue the advance from 0.8890 en route to the 200-day SMA at 0.9316.
Since Nov 7 the pair has been unsuccessful at overcoming the monthly R1.