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(M1) Bearish Breakout Cemented


Fierce Bounce, But Needs to Stick


(M1) Takes Out Key Support


Taking on Weight


At Risk of Bearish Breakout


Key Resistance Exposed

25 August 2017
By Kyle Shortland
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Analysis Pdf
DOLLAR-SING TECHS: Bulls Need Close Above Sgd1.3638
*RES 4: Sgd1.3720 - High July 17 
*RES 3: Sgd1.3688 - High Aug 15 
*RES 2: Sgd1.3670 - Bollinger band top 
*RES 1: Sgd1.3638 - High Aug 21
*PRICE: Sgd1.3617 @ 2300GMT
*SUP 1: Sgd1.3582 - Low Aug 14 
*SUP 2: Sgd1.3555 - Bollinger band base 
*SUP 3: Sgd1.3549 - Low Aug 4 
*SUP 4: Sgd1.3536 - 2017 Low July 27
*COMMENTARY: Bears are struggling to gain traction below the 21-DMA (Sgd1.3612)
but remain focused on tests of the Sgd1.3536-49 support region where 2017 lows
are located. Narrowing Bollinger bands are suggestive of a break out. Bulls need
a close above Sgd1.3638 to gain breathing room and above Sgd1.3688 to pressure
the 55-DMA (Sgd1.3712). Bulls now look for a close above the Sgd1.3720 to shift
focus to the bear channel top (Sgd1.3785).
DOLLAR-WON TECHS: Below Krw1123.0 To Target 2017 Low
*RES 4: Krw1144.1 - High Aug 18
*RES 3: Krw1140.1 - Low Aug 18 now resistance
*RES 2: Krw1133.4 - 55-DMA
*RES 1: Krw1131.0 - 100-DMA
*PRICE: Krw1127.9 @ 2300GMT
*SUP 1: Krw1126.1 - Low Aug 24
*SUP 2: Krw1123.0 - Low Aug 3
*SUP 3: Krw1114.3 - High July 27 now support
*SUP 4: Krw1113.2 - Bollinger band top
*COMMENTARY: Failure to trouble the 200-DMA left the pair looking heavy
resulting in closes below 21, 55 & 100-DMAs and immediate focus back on the
Krw1123.0 support. Bears need a close below this level to confirm focus on tests
of 2017 lows. Daily studies are well placed for further downside. Bulls now look
for a close above the 55-DMA to ease bearish pressure and above Krw1140.1 to
reconfirm focus on Krw1144.1-1148.1 where the 200-DMA is noted.
DOLLAR-MYR TECHS: Remains Stuck In Well Defined Range
*RES 4: Myr4.3117 - 100-DMA 
*RES 3: Myr4.3112 - High Aug 16 
*RES 2: Myr4.2995 - Bollinger band top 
*RES 1: Myr4.2863 - 21-DMA
*PRICE: Myr4.2828 @ 2300GMT
*SUP 1: Myr4.2731 - Bollinger band base 
*SUP 2: Myr4.2700 - Low Aug 11 
*SUP 3: Myr4.2664 - Low July 19 
*SUP 4: Myr4.2465 - 2017 Low June 20
*COMMENTARY: Broad sideways trading Myr4.2465-3270 continues with focus having
returned to the Myr4.2664-2700 region following the most recent topside failure
and close below the 55-DMA (Myr4.2860). Bears need a close below Myr4.2664 to
return pressure to the Myr4.2465 2017 low. Narrowing Bollinger bands re
suggestive of a breakout in the near future. Bulls need a close above the 21-DMA
to gain breathing room.
DOLLAR-CNH TECHS: Cnh6.6886-7153 Resistance Region Key
*RES 4: Cnh6.7154 - Low Aug 1 now resistance 
*RES 3: Cnh6.6955 - 21-DMA 
*RES 2: Cnh6.6886 - High Aug 17 
*RES 1: Cnh6.6748 - Low Aug 17 now resistance
*PRICE: Cnh6.6601 @ 2300GMT
*SUP 1: Cnh6.6539 - 2017 Low Aug 24 
*SUP 2: Cnh6.6512 - Bollinger band base 
*SUP 3: Cnh6.6413 - Monthly Low Sept 16 
*SUP 4: Cnh6.6216 - Low July 29 2016
*COMMENTARY: The recovery from previous 2017 lows stalled around the bear
channel top (Cnh6.6774) last week with the sell-off that followed resulting in
fresh 2017 and 11mth lows Thursday. Bulls now need a close above the 21-DMA to
ease immediate bearish pressure and above Cnh6.7153 to shift initial focus to
Cnh6.7377-7545 where the 55-DMA is located.
DOLLAR-PHP TECHS: Focus Shifts To 21-DMA
*RES 4: Php51.700 - High Aug 3 2006 
*RES 3: Php51.630 - 2017 High Aug 18 
*RES 2: Php51.390 - Low Aug 18 now resistance 
*RES 1: Php51.140 - High Aug 24
*PRICE: Php51.000 @ 2300GMT
*SUP 1: Php50.900 - Lows Aug 11 & 14 
*SUP 2: Php50.840 - High July 25 now support 
*SUP 3: Php50.792 - 21-DMA 
*SUP 4: Php50.680 - High Aug 9 now support
*COMMENTARY: The lack of follow through on last Friday's 2017 and 11year highs
has resulted in a close below Php51.090, easing bullish pressure and shifting
immediate focus back to Php50.792-900 where the 21-DMA is located. Correcting
O/B daily studies are adding weight to the bearish case. Bulls now look for a
close above Php51.140 to gain breathing room and above Php51.390 to reconfirm
initial focus on tests of Php51.630-700.
DOLLAR-THB TECHS: Bulls Now Need Close Above Thb33.41
*RES 4: Thb33.70 - High July 20 
*RES 3: Thb33.62 - 55-DMA 
*RES 2: Thb33.53 - High July 26 
*RES 1: Thb33.41 - High July 27
*PRICE: Thb33.32 @ 2300GMT
*SUP 1: Thb33.27 - 21-DMA 
*SUP 2: Thb33.14 - 2017 Low Aug 11 
*SUP 3: Thb33.13 - Low May 5 2015 
*SUP 4: Thb32.98 - Monthly Low May 1 2015
*COMMENTARY: Bulls take comfort as the pair looks to gain traction on closes
above the 21-DMA. Bulls now need a close above Thb33.41 to confirm an easing of
bearish pressure and above Thb33.53 to shift focus to Thb33.62-80 where the
55-DMA and bear channel top are located. Narrowed Bollinger bands remain
suggestive of a breakout. Bears need a close below the 21-DMA to ease pressure
on initial resistance.
DOLLAR-IDR TECHS: Pressure Back on 55-DMA
*RES 4: Idr13415 - High May 19 
*RES 3: Idr13410 - High July 7 & 10 
*RES 2: Idr13380 - Low July 11 now resistance 
*RES 1: Idr13373 - 100-WMA
*PRICE: Idr13346 @ 2300GMT
*SUP 1: Idr13333 - 55-DMA 
*SUP 2: Idr13295 - Low July 19 
*SUP 3: Idr13270 - Low Apr 26 
*SUP 4: Idr13245 - 2017 Low Apr 13
*COMMENTARY: Broad sideways trading in a Idr13245-13415 range continues with
Idr13270-13380 on the narrow. Bulls continue to look for a close above Idr13380
to pressure Idr13415 and above this level to target Idr13485 2017 highs. Bears
still need a close below the 55-DMA to return focus to the lower end of the
dominant range. bears look for a close below Idr13245 to initially target
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