Lets Talk Support and Resistance

I would like to hear everyones thought on some new long term support and resistance levels. Im specifically refering to USD pairs after the rate statement on the 18th.

Do you think the EURUSD will get back below 1.4 ? if so why ? and what would it take?

What are your thoughts on the USDJPY ? are we going to see some movement or are we going to cycle between 116 and 114...

How about the cable? is it coming back ?

It seems to me like a whole new market. All the pattern recognition profiles are statistically insignificant at these new levels. What variables do we look for ?

On the weekly the gbpusd likes the 21 ema

The post below shows the statistical probability of how often the gbpusd finds either support or resistance at these weekly fib levels.

hey can you share the fibo indicator with the prices shown? i use default fibo but how to add the price?

In mt4 under your fib options type %$ in the description line for each fib number

gbpjpy has support at around Friday's low.

thanks mike

Little sloppy on my support line from Friday. Here is a more accurate support line from Friday.

Price so far this week the 38 weekly fib and 21 weekly ema have held the support level for GbpUsd.

Weekly 21 ema support

Green line shows (DAR) daily average range for if the days low holds
Yellow lines shows (WAR) weekly average range from the weeks current low. These are only averages over the year. Of course the past several weeks the currencies have ranged beyond the normal (DAR) and (WAR). My bias is up so I am looking at things from the top side.

The original resistance lines were drawn around the time and level of the orange arrow (see previous post). These resistance levels were based on previous history and the orange horizontal support line was added after the fact. The point is that there is a high probability of the currencies finding s/r at previous historical s/r levels

Page gets to be pretty messing. Levels of support with fib levels based on last weeks high and low. The probability percentages are based on how many times this year the GbpUsd has retraced to these levels during the previous 38 trading weeks of 2007.

Daily look at S/R levels for the GbpUsd. These levels seem to be at 00 or 50 levels in 50 pip increments for the GbpUsd.
Yellow line is 21 ema
Red line is 89 sma (simple)
Blue line is 144 ema.