Res: 1.3425, 1.3445, 1.3475,

Sup: 1.3340, 1.3315, 1.3295

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The Euro trades in consolidative mode after finding ground above 1.33 support. Near-term price action moves around 1.34 handle, still holding below 1.3443, 01 Aug lower top and breakpoint, clearance of which is required to trigger stronger recovery and confirm near-term ****. Near-term action is supported by positive hourly studies and 4-hour indicators emerging above the midlines. Also, reversing daily indicators and RSI out of oversold zone, support the notion. Lift above 1.3443, also near 38.2% retracement of 1.3639./1.3316 descend, to open 1.3485, 24 July lower top and 50% retracement, as well as psychological 1.35 barrier. Pullback off fresh recovery high at 1.3431, which dented 1.34 support, also near 38.2% of 1.3316/1.3431 ascend, should hold above 1.3370, Fibonacci 61.8% retracement and hourly 20/55 SMA’s bullish cross, to keep near-term bulls intact for renewed attempt higher. Otherwise, risk of retest of 1.33 support zone and fresh extension of larger downtrend would remain in play.

Res: 1.3409; 1.3431; 1.3443; 1.3485

Sup: 1.3381; 1.3369; 1.3350; 1.3335

Cable maintains negative tone and reached fresh low at 1.6764, after loss of psychological 1.68 support. The pair is looking for completion of the upleg from 1.67 zone higher ****, to 1.7189, as the biggest part of the rally has already been retraced. Near-term consolidative actions are expected to interrupt bears, however, the upside potential so far looks limited, as near-term technicals remain negative. Only break above 1.6885 lower top would signal more significant upside action and delay attempt at 1.67 ****.

Res: 1.6810; 1.6827; 1.6839; 1.6862

Sup: 1.6764; 1.6736; 1.6691; 1.6657

The pair remains in the downmove off 103.07, 30 July peak, which retraced 76.4% of the rally from 101.07 to 103.07, on a dip to 101.49 so far. Studies on 4-hour chart are weak and maintain the risk of return to 101 ****, as the price holds below 200SMA, stabilizing around 102 handle. On the other side, overall bullish picture remains intact and sees fresh upside potential, once the price confirms footstep at 101.49, which requires clearance of 102.45 lower top and Fibonacci 61.8% of 103.07/101.19 descend, to confirm recovery action.

Res: 102.18; 102.45; 102.91; 103.07

Sup: 101.69; 101.49; 101.07; 100.81

The pair maintains overall negative structure, as fresh acceleration off 0.9372 lower top of 06 Aug, posted new low at 0.9237, approaching strong 0.92 zone ****. Brief upside attempts are expected to delay bears, which are aiming towards 0.92 higher **** and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Near-term price action off 0.9237 low, was so far limited by 4-hour 20SMA, with more significant corrective action to be sparked on a break above 0.9372 lower top.

Res: 0.9285; 0.9320; 0.9372; 0.9415

Sup: 0.9237; 0.9200; 0.9180; 0.9165

The Euro is at the back foot in the near-term, as the price moves lower after recovery rally stalled at 1.3431, short of 1.3443 pivotal top. Subsequent weakness, which broke below psychological 1.34 support, also Fibonacci 61.8% of 1.3316/1.3431 upleg, sees risk of further easing and possible retest of near-term **** above 1.33 handle. Negative hourly studies support the notion, however, range trading will remain in play while the price holds within current boundaries, with overextended daily technicals suggesting extended consolidation and only break above 1.3343/49 lower top / Fibonacci 38.2% of larger 1.3639./1.3316 descend, to signal stronger recovery attempt. Penetration of strong 1.33 support zone, on the other side, is expected to resume broader weakness off 1.3392, 08 May peak and extend the third wave from 1.3699 lower top of 01 July, towards its 100% Fibonacci expansion at 1.3209.

Res: 1.3375; 1.3401; 1.3431; 1.3443

Sup: 1.3331; 1.3300; 1.3250; 1.3209

Cable maintains negative tone and resumes larger downtrend, which was interrupted by 1.6764/94 consolidation, with psychological 1.68 support now acting as immediate resistance and keeping the upside attempts limited. Fresh weakness is looking for retest of 1.67 zone higher ****, to complete the bull-leg from 1.67 to 1.7189. Break below 1.67 support to open 1.6650, 200SMA. Prevailing negative tone supports the notion, with consolidative actions expected to interrupt bears. On the upside, 1.68 offers solid resistance and sustained break here would delay bears for possible attempt at 1.6885 lower top and breakpoint.

Res: 1.6794; 1.6827; 1.6862; 1.6885

Sup: 1.6736; 1.6691; 1.6657; 1.6600

The pair regained traction on hourly chart studies, as the price action stabilizes above 102 handle and approaches pivotal 102.45 lower top and Fibonacci 61.8% of 103.07/101.49 descend. Break here is required to confirm higher low formation at 101.49 and open 103 zone for test. Daily studies are positive and support the notion, with close above 200SMA, to confirm. Psychological 102 support and higher low, also near daily cloud top, should stay intact to maintain the structure.

Res: 102.45; 102.91; 103.07; 103.42

Sup: 102.22; 102.00; 101.69; 101.49

The pair maintains overall negative structure, as bearish acceleration off 0.9372 lower top of 06 Aug, posted new low at 0.9237, on approach to strong 0.92 zone ****. Brief upside attempts are expected to delay bears, which are aiming towards 0.92 higher **** and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Consolidative action off 0.9237 low, was so far limited under 0.9288, Fibonacci 38.2% of 0.9372/0.9237 downleg, with more significant corrective action to be sparked on a break above 0.9372 lower top.

Res: 0.9266; 0.9285; 0.9320; 0.9372

Sup: 0.9237; 0.9200; 0.9180; 0.9165

The Euro returned to weakness and trades near 1.3330 ****, following yesterday’s sharp rally, driven by fundamentals, which showed again lack of strength to break above near-term congestion tops and pivotal barriers. Negative near-term studies keep the downside favored, with penetration through 1.3330 ****, reinforced by weekly cloud ****, to trigger fresh extension of larger descend from 1.3392, towards 1.3247, Fibonacci 38.2% of 1.2042/1.3392 ascend. Overextended daily conditions, however, may delay bears for prolonged consolidative phase.

Res: 1.3372; 1.3414; 1.3431; 1.3443

Sup: 1.3347; 1.3331; 1.3300; 1.3250

Cable came under increased pressure and slumped below 1.6690 higher ****, on Sterling-negative data, released yesterday. Overall bears are confirmed by loss of strong support and target at 1.6690, with immediate target at 1.6657, 200SMA, being tested and psychological 1.66 support coming in focus. Oversold near-term conditions, however, are expected to interrupt bears for consolidative/corrective action, with psychological 1.67 barrier offering initial resistance, ahead of 1.6735, Fibonacci 38.2% of 1.6843/1.6668 downleg/hourly 55SMA and 1.6755, previous lows and descent’s mid-point, where rallies should be ideally capped.

Res: 1.6700; 1.6735; 1.6755; 1.6766

Sup: 1.6655; 1.6600; 1.6563; 1.6500

The pair remains supported and moves higher after eventually breaking above 102.45/47 lower top/Fibonacci barriers. Positive near-term studies favor further upside and eventual test of pivotal 103 resistance zone, with the notion being supported by reversal pattern, which is close to completion on a daily chart. Previous peaks and 200SMA at 102.30 zone should ideally contain corrective dips, with potential loss of 102 handle, to sideline bulls.

Res: 102.64; 102.91; 103.07; 103.42

Sup: 102.30; 102.07; 102.00; 101.69

Pair’s overall structure remains negative, as bearish acceleration off 0.9372, 06 Aug lower top, posted new low at 0.9237, on approach to strong 0.92 zone ****. Brief upside attempts are expected to delay bears, which are looking for test of 0.92 higher **** and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Consolidative action off 0.9237 low has cracked psychological 0.93 barrier, also 50% retracement of 0.9372/0.9237, which may delay bears, however, only break above 0.9372 lower top would signal near-term **** and more significant corrective action.

Res: 0.9320; 0.9372; 0.9400; 0.9423

Sup: 0.9286; 0.9237; 0.9200; 0.9180

The Euro ended the week in red, maintaining overall negative tone, with lower timeframes studies being in positive mode, as last Friday’s price action probed again above 1.34 barrier, with daily close occurring just ticks below daily highs. This keeps the upside favored in the near-term, however, sustained break above near-term range tops, just above 1.34 level, is required to confirm near-term bulls and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top. Hourly higher **** at 1.3355 zone, should keep the downside protected, to maintain near-term bulls. Repeated failure above 1.34 barrier, however, would signal prolonged sideways trade, with increased downside risk expected on violation of 1.3355 support.

Res: 1.3398; 1.3414; 1.3431; 1.3443

Sup: 1.3379; 1.3355; 1.3334; 1.3300

Cable overall picture remains bearish, as the pair closed in red for the sixth consecutive week, keeping the short-term downtrend intact for now. On the other side, first signals of reversal come from last Friday’s Doji candle, just above 200SMA, which holds for now and today’s gap-higher opening. Near-term price action is attempting to stabilize above 1.67 handle, with bounce so far having retraced over 38.2% of 1.6843/1.6657 descend and hourly studies being positively aligned. Further upside and break above the next significant barrier at 1.6755, previous low of 12 Aug, also near 50% retracement, looks favored for now and is required to further improve near-term structure for possible attempt at key 1.6843, regain of which to sideline short-term bears. Otherwise, risk of lower top formation, in case of stall under 1.6843, would be likely near-term scenario.

Res: 1.6733; 1.6755; 1.6771; 1.6800

Sup: 1.6712; 1.6675; 1.6655; 1.6600

The pair trades in near-term consolidative mode after fresh bulls posted new high at 102.70 and subsequent sharp pullback retested levels close to pivotal 102 support. Hourly studies turned negative, while 4-hour picture holds bullish tone, which is, along with positive daily studies, expected to keep bulls in play for renewed attempt higher, with regain and break above 102.70 hurdle, to open pivotal 103 barrier. Alternatively, loss of 102 handle to confirm near-term bearish stance and extend weakness off 102.70 high.

Res: 102.70; 102.91; 103.07; 103.42

Sup: 102.23; 102.12; 102.00; 101.69

The pair holds steady in the near-term and consolidates last week’s gains which peaked at 0.9332. Pullback off 0.9332 was contained just under 0.93 handle at Fibonacci 38.2% of 0.9237/0.9332 upleg that keeps near-term bulls in play for now. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term **** for stronger correction, which would sideline larger picture bears and delay final push towards strong support and **** at 0.92 zone. Hourly technicals are neutral and 4-hour tone remains positive, with 0.93 support zone required to hold.

Res: 0.9332; 0.9356; 0.9372; 0.9400

Sup: 0.9307; 0.9296; 0.9273; 0.9254

The Euro remains in near-term range trading, following repeated stall of attempts at 1.34 resistance zone, seen yesterday. Near-term studies weakened and trade in the range’s lower part, following pullback of 1.3398, yesterday’s rejection level and high of the day. Break of either side of the range is required to define near-term direction, with loss of range’s floor and near-term ****, seen as a trigger for bearish resumption towards psychological 1.33 support and acceleration lower to expose 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100expansion of the third wave which commenced from 1.3699, 01 July lower top. Alternatively, sustained break above near-term range tops, just above 1.34 level, is required to bring bulls in play and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top.

Res: 1.3365; 1.3380; 1.3398; 1.3414

Sup: 1.3334; 1.3300; 1.3247; 1.3209

Cable is entrenched within narrow range in the near-term price action, after fresh bulls off 1.6655, failed to extend gains above 1.67 barrier. Overall picture remains bearish and keeps short-term downtrend intact for now. On the other side, initial signals of reversal, which came from last Friday’s Doji candle and yesterday’s gap-higher opening, so far did not materialize, as price action remains limited at 1.6736, yesterday’s high. This made hourly studies to start losing traction, with increased downside risk expected on a fresh weakness below 1.67 handle, as 4-hour technicals remain weak. Unless the price action rallies through initial 1.6755/71 barrier, previous low / Fibonacci 61.8% of 1.6843/1.6655 descend, near-term outlook will see extended sideways mode, with downside risk, as favored scenario.

Res: 1.6736; 1.6755; 1.6771; 1.6800

Sup: 1.6699; 1.6675; 1.6655; 1.6600

The pair holds positive near-term tone, as the price retraced the biggest part of 102.70/102.12 corrective pullback and aims at 102.70, as initial target. Positive near-term studies support fresh attempt at 102.70, for eventual attack at pivotal 103 resistance zone, above which to expose the upper boundaries of short term range. Corrective easing ahead of 102.70 barrier, should be ideally contained at 102.40 zone, to keep near-term bulls intact.

Res: 102.70; 102.91; 103.07; 103.42

Sup: 102.40; 102.23; 102.12; 102.00

The pair remains steady and posted marginally higher high at 0.9340, after completing 0.9332/0.9296 corrective pullback. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term **** for stronger correction, which would sideline larger picture bears and delay final push towards strong support and **** at 0.92 zone. Near-term technicals are positive and favor further upside, with 0.93 support zone required to hold corrective dips.

Res: 0.9340; 0.9356; 0.9372; 0.9400

Sup: 0.9312; 0.9296; 0.9273; 0.9254

The Euro continues to trend lower, with fresh acceleration below 1.33 handle, testing levels below initial 1.3247, Fibonacci 38.2% retracement target. Further bears are expected to test the next targets at 1.3209/00, Fibonacci 100% expansion of the wave from 1.3699 / psychological support, below which 1.3103, September 2013 higher low, will come in focus. Oversold conditions on all timeframes, however, suggest a pause in the downtrend, with 1.33 zone offering the first significant barrier, where lower top and 38.2% retracement of 1.3397/1.3240 descend lay, ahead of previous range floor and Fibonacci 61.8% retracement at 1.3340 zone, below which, rallies should be limited.

Res: 1.3273; 1.3300; 1.3323; 1.3340

Sup: 1.3240; 1.3209; 1.3160; 1.3103

Cable remains under pressure and continued the downmove, which was interrupted by yesterday’s 1.6599/1.6677, corrective rally. Fresh weakness approaches the next target at 1.6548, 04 Apr higher low, below which psychological 1.65 support and 1.6464, low of 24 Mar 2014, are expected to come in focus. The negative scenario is additionally supported by loss of 200SMA, which signals further significant losses in the near-term. Corrective rallies on oversold near-term studies should be ideally capped under 1.6677 lower top, to keep immediate bears intact, otherwise, extended corrective action is expected to delay.

Res: 1.6600; 1.6622; 1.6651; 1.6677

Sup: 1.6561; 1.6548; 1.6500; 1.6464

The pair maintains positive overall tone and continues to trend higher, as fresh acceleration higher has taken out 103.75, 07 Mar high and approaches key barrier and short-term range top at 104.11, 04 Apr peak. Bulls remain fully in play and favor eventual break above 104.11, which will signal an end of short-term consolidative phase and expose year-to-date peak at 105.43, posted on 02 Jan 2014. Hesitation ahead of 104.11 cannot be ruled out, as studies are overbought on all timeframes. Previous peak at 103.07 offers solid support and should contain stronger dips.

Res: 104.11; 104.50; 104.83; 105.00

Sup: 103.66; 103.39; 103.07; 102.70

The pair lost traction and slumped lower, to fully retrace 0.9237/0.9342 upleg. Former low offers temporary support for near-term consolidation, before fresh extension lower, as bears took control of near-term studies and Three Black Crows reversal pattern is nearly completed. Break below 0.9237 to confirm lower top at 0.9342, where 20/100SMA’s bearish cross capped recovery attempts and open way for final push towards key support and short-term target at 0.92 higher **** zone. Corrective rallies off 0.9237, should be ideally capped at 0.9275/0.93 zone.

Res: 0.9275; 0.9300; 0.9315; 0.9342

Sup: 0.9237; 0.9200; 0.9180; 0.9132

The Euro holds overall negative tone and posted marginally lower low at 1.3177, levels last time seen one year ago, with near-term price action trading in consolidative mode, around 1.32 level. Oversold 4-hour and daily studies suggest more significant corrective action in the near-term, as hourly indicators are heading north. The pair attempts to fill Monday’s gap, the first step which will signal recovery under way, ahead of previous low at 1.3240 and 1.3266, Fibonacci 38.2% of 1.3410/1.3177 descend, break of which to open key near-term barrier and breakpoint at 1.3295, lower top of 22 Aug and psychological 1.33 resistance, reinforced by daily Tenkan-sen line. Break here is required to confirm near-term **** and put bears on hold for stronger recovery. Otherwise, lower top formation and fresh weakness would keep larger bears intact for extension towards next targets at 1.3103, Sep 2013 higher low and 1.3022, Fibonacci 138.2% expansion of the wave from 1.3699.

Res: 1.3220; 1.3240; 1.3266; 1.3300

Sup: 1.3177; 1.3150; 1.3103; 1.3050

Cable attempts to stabilize after bounce from fresh low at 1.6534 returned to near-term congestion tops and strong resistance at 1.66 zone. Slight improvement of hourly studies keeps fresh attempts higher in play, as 4-hour indicators are heading off oversold zone. However, more significant recovery requires break above 200SMA at 1.6680 and 18 Aug lower top at 1.6736, to offset larger bears. Otherwise, preferred scenario would be lower top formation and fresh weakness towards targets at 1.6500, round figure support and 1.6464, 24 Mar low.

Res: 1.6600; 1.6622; 1.6651; 1.6677

Sup: 1.6564; 1.6534; 1.6500; 1.6464

The pair maintains overall bullish tone, as fresh bulls cracked key 104.11, 04 Apr peak, the last obstacle on the way to 105.43, 02 Jan peak. Corrective action is under way, with pullback probing below initial 104 support, ahead of fresh attempt higher. Extended pullback to face supports art 103.50, 22 Aug low and 103.20, Fibonacci 38.2% of 101.49/104.26 upleg.

Ideally, reversal should be contained here and should not extend below 103 zone, previous peaks and Fibonacci 38.2% retracement of 101.07/104.26 upleg, to keep bulls intact.

Res: 104.10; 104.26; 104.50; 104.83

Sup: 103.50; 103.20; 103.07; 102.70

The pair trades in near-term corrective mode off fresh low at 0.9237, after pullback off 0.9342 retested 0.9237 support. Near-term tone is neutral and sideways trading is expected to continue, while 0.9342 top caps. Break here to signal double-bottom formation on 4-hour chart and stronger rally, which requires break above pivotal 0.9372, 06 Aug lower top, to confirm the scenario. Conversely, slide below 0.9270 higher low to weaken immediate structure and risk return to 0.9237 low.

Res: 0.9300; 0.9327; 0.9342; 0.9372

Sup: 0.9285; 0.9270; 0.9237; 0.9200

The Euro regains strength in the near-term action, as corrective attempts off fresh low at 1.3149, extended to 1.3220, last Friday’s low and the first break point. Hourly studies turned positive, as the price action attempts to stabilize above 1.32 handle, with sustained break above 1.3220 barrier, also 50% retracement of 1.3295/1.3149 descend, required to improve 4-hour structure for push towards the next break point at 1.3295, 22 Aug lower top, between 50% and 61.8% of larger 1.3410/1.3149 descend. Overextended daily studies support the scenario. Conversely, failure to sustain break above 1.3200, would signal prolonged sideways trade, with downside risk in play.

Res: 1.3220; 1.3240; 1.3261; 1.3295

Sup: 1.3187; 1.3167; 1.3149; 1.310

Cable is regaining traction, as bounce off 1.6534 low probes above strong 1.66 barrier. Sustained break here is required to confirm basing attempt and further improve north-heading 4-hour studies for push towards pivotal 1.6677/85, 20 Aug lower top / 200SMA and possible extension to the key near-term barrier at 1.6735 lower platform. However, overall negative tone sees current movements as corrective action and failure to clear 1.6735 barrier, would keep in play scenario of lower top formation and subsequent fresh weakness.

Res: 1.6605; 1.6622; 1.6651; 1.6677

Sup: 1.6570; 1.6534; 1.6500; 1.6464

The pair maintains overall bullish tone and enters near-term corrective phase, after fresh bulls cracked key 104.11, 04 Apr peak, the last obstacle on the way to 105.43, 02 Jan peak. Corrective easing establishes below initial 104 support, with 103.50, 22 Aug low and 103.20, Fibonacci 38.2% of 101.49/104.26 upleg, seen as next significant supports, with extended pullback to be contained above 103 zone, previous peaks and psychological support, to keep bulls in play.

Res: 104.00; 104.16; 104.26; 104.50

Sup: 103.67; 103.50; 103.20; 103.07

Near-term bulls returned to play, as the pair extended rally off 0.9237 through 0.9327/42 barriers, also penetrating daily cloud **** and 55SMA, now eyeing pivotal 0.9372, lower top of 06 Aug and 50% of 0.9503/0.9237 descend. Break above here is required to confirm **** at 0.9237 for more significant correction of 0.9503/0.9237 descend, with 0.94 psychological barrier / 61.8% retracement and 0.9415 lower top, seen as immediate targets. Otherwise, prolonged sideways trade could be expected in the near-term, in case of failure to break 0.9372 barrier. Previous peak at 0.9349, now acts as initial support, ahead of 0.9326 higher ****/ previous range tops, where pullbacks should find solid support.

Res: 0.9342; 0.9372; 0.9400; 0.9440

Sup: 0.9349; 0.9326; 0.9308; 0.9290

The Euro returned to weakness after fresh acceleration lower ended near-term consolidative phase between 1.3150 and 1.3220 limits. Fresh attempts lower target immediate support at 1.31, psychological support and low of September 2013, below which opens double-Fibonacci support at 1.3020 zone, 50% retracement of 1.2042/1.3992 ascend and 138.2% expansion of the wave from 1.3699. Near-term bears continue to favor further downside, with corrective rallies on oversold conditions, expected to interrupt and to be ideally capped under 1.32 barrier. Overextended daily studies, however, warn of more significant corrective action, which requires sustained break above near-term congestion tops at 1.3220 to be confirmed.

Res: 1.3133; 1.3150; 1.3194; 1.3220

Sup: 1.3117; 1.3103; 1.3050; 1.3020

Cable near-term studies are regaining traction, as bounce off 1.6534 low attempts to sustain break above 1.66 barrier. Rallies were so far capped by descending 4-hour 55SMA at 1.6610, with break here, required to confirm basing attempt and bring bulls fully in play for push towards pivotal 1.6677/, 20 Aug lower top / 20/200SMA death cross and possible extension to the key near-term barrier at 1.6735 lower platform. However, overall negative tone sees current movements as corrective action and failure to clear 1.6735 barrier, would keep in play scenario of lower top formation and subsequent fresh weakness.

Res: 1.6651; 1.6677; 1.6685; 1.6735

Sup: 1.6585; 1.6560; 1.6534; 1.6500

The pair remains in near-term corrective phase, off fresh high at 104.26, posted on 25 Aug, after fresh bulls cracked key 104.11, 04 Apr peak, the last obstacle en-route to 105.43, 02 Jan peak. Corrective easing found support at 103.50, 22 Aug low, ahead of fresh attempt through 104 barrier. This keeps near-term bulls in play for eventual push through 104.26, 25 Aug fresh high, to resume larger bulls towards psychological 105 barrier and key resistance at 105.43, 02 Jan peak. Today’s gap-higher open, confirms bullish stance, with corrective easing, expected to be ideally contained at 104.00/103.80 zone.

Res: 104.20; 104.26; 104.50; 105.00

Sup: 104.00; 103.80; 103.50; 103.20

Near-term bulls remain in play, as the pair tested pivotal 0.9372 barrier, lower top of 06 Aug and 50% of 0.9503/0.9237 descend. Consolidative phase so far found support at 0.9320, Fibonacci 38.2% of 0.9237/0.9372, keeping immediate focus at the upside. Break above 0.9372 is required to confirm **** at 0.9237 for more significant correction of 0.9503/0.9237 descend, with 0.94 psychological barrier / 61.8% retracement and 0.9415 lower top, seen as immediate targets. Otherwise, prolonged sideways trade could be expected in the near-term, in case of failure to break 0.9372 barrier, with bearish tone to be established in case of loss of 0.93 support.

Res: 0.9361; 0.9372; 0.9400; 0.9440

Sup: 0.9320; 0.9300; 0.9288; 0.9268

The Euro remains weak and ticked lower, after brief corrective attempt off 1.3117 was capped at 1.3144. The pair eyes immediate target at 1.31, however, yesterday’s Doji candle may signal further consolidation ahead of 1.31 support, as daily studies are overextended, but no reversal signal being generated yet. Yesterday’s corrective high at 1.3144 offers initial resistance, along with 1.3155 zone, previous lows and Fibonacci 38.2% of 1.3219/1.3113 downleg, where corrective rallies should find good resistance, before fresh push lower. Conversely, extension through pivotal 1.3200/19 barriers would signal stronger recovery and sideline immediate bears.

Res: 1.3144; 1.3155; 1.3194; 1.3220

Sup: 1.3113; 1.3103; 1.3050; 1.3020

Near-term studies are losing initial strength, regained on a bounce off 1.6534, as the pair failed to sustain gains above the first breakpoint at 1.66 zone, as fresh weakness followed the price’s stall at 1.6642. Extension below 1.66 handle, weakens near-term structure and risks return to 1.6534 ****, as reversal retraced so far over 76.4% of 1.6534/1.6642 ascend, in case near-term price action took out the last support at 1.6560. Underlying bearish tone favors fresh resumption of larger downtrend, as 20/200SMA death cross maintains the pressure. Extension below 1.6534 to open 1.6500 and higher low at 1.6464 next.

Res: 1.6587; 1.6613; 1.6642; 1.6677

Sup: 1.6542; 1.6534; 1.6500; 1.6464

The pair accelerated higher, after clearing near-term top at 104.26, rallying towards psychological 105 and key short-term barrier at 105.43, 02 Jan peak. Overall bullish structure favors attempts through 105.43 and resumption of multi-year uptrend, which was interrupted by 105.43/100.74 corrective phase. However, overbought conditions on all timeframes may cause hesitation ahead of 105.43 barrier. Former resistances at 104.26/00 zone, offer initial supports.

Res: 105.00; 105.43; 105.57; 106.00

Sup: 104.26; 104.00; 103.80; 103.50

The pair lost traction and slumped below 0.93 support, after recovery attempts failed to clear pivotal 0.9372 barrier and subsequent weakness accelerated after losing important 0.9320 support and previous consolidation floor. Retracement of over 61.8% of 0.9236/0.9372 upleg, has weakened near-term structure, near-term indicators are in the negative territory. Corrective action on oversold hourlies is expected to precede fresh weakness towards higher low at 0.9268, with return to 0.9236 ****, seen on extension. Alternative scenario requires lift above lower top at 0.9350, to bring bulls back in play for renewed attempts at 0.9372 barrier.

Res: 0.9300; 0.9322; 0.9350; 0.9361

Sup: 0.9282; 0.9268; 0.9236; 0.9200

The Euro remains negative overall, with near-term price action still holding above initial target at 1.31, after posting marginally lower low at 1.3108, with immediate tone being in neutral mode. The price remains entrenched within near-term range, capped for now at 1.3144. Break above here and 1.3151, Fibonacci 38.2% of 1.3219/1.3108 downleg, is seen as minimum requirement to signal start of recovery action, which is signaled by overextended daily conditions. Extension higher to open targets as 1.3177, 61.8% retracement; 1.3195 lower top of 29 Aug and key near-term barrier and lower platform at 1.3220, also Fibonacci 38.2% of larger 1.3410/1.3108 descend. Otherwise, extended consolidative action is expected to precede fresh leg lower, as negative sentiment would drive the pair below 1.31 handle, with extension towards 1.3020, double Fibonacci and 1.3000, psychological support.

Res: 1.3144; 1.3151; 1.3177; 1.3195

Sup: 1.3121; 1.3108; 1.3103; 1.3050

Cable remains under pressure and fresh acceleration lower from 1.6642, where lower top was left on 01 Sep, eventually broke below initial support at 1.6534 and psychological 1.65 level. Fresh bears also took out the next target at 1.6464, en route towards 1.6400, round –figure support. Overextended near-term studies suggest corrective bounce off fresh low at 1.6443, with 1.65 handle now acting as immediate resistance, ahead of 1.6520/34, Fibonacci 38.2% of 1.6643/1.6443 descend / previous low, levels seen as ideal cap. Conversely, stronger rallies through 1.66 barrier, would delay bears, however, will face layers of strong resistances at 1.6443 lower top and 1.6690 20/200 death-cross.

Res: 1.6500; 1.6520; 1.6534; 1.6566

Sup: 1.6443; 1.6400; 1.6380; 1.6350

The pair continues to trend higher, with fresh strength above 104.26, former high, eventually breaking above psychological 105 barrier. Immediate focus is key resistance at 105.43, 02 Jan peak and year-to-date high. Overall bullish structure favors attempts through 105.43 and resumption of multi-year uptrend, which was interrupted by 105.43/100.74 corrective phase. However, pullback on overbought conditions on all timeframes is expected to delay final push through 105.43 barrier. Fibonacci 38.2% retracement of 103.54/105.29 upleg at 104.62, offers initial support, ahead of former resistance at 104.26, also near 61.8% retracement, which is expected to hold dips.

Res: 105.00; 105.30; 105.43; 105.57

Sup: 104.62; 104.26; 104.00; 103.80

The pair bounces off fresh low at 0.9260, on corrective rally, after bearish acceleration off 0.9372 barrier and upside rejection level, nearly fully retraced 0.9237/0.9372 upleg. Overall negative tone sees the price action holding within 0.9237/0.9372 range, with lower borders being under pressure and fresh weakness starting after completion of corrective phase. Ideally, 0.9320/30 zone, former low and Fibonacci 61.8% of 0.9372/0.9260 descend, should cap rallies, before bears re-assert for renewed attempt towards 0.9237 ****. Otherwise, break higher and regain of 0.9350 lower top, would shift near-term focus towards range’s upper boundary.

Res: 0.9322; 0.9330; 0.9350; 0.9372

Sup: 0.9282; 0.9260; 0.9237; 0.9200

The Euro resumes downmove off 1.3992, 08 May 2014 peak, after two-day narrow consolidation followed last Thursday’s sharp fall. The price probes below 1.29 handle, psychological support / Fibonacci 161.8% expansion of the wave from 1.3699, after bull-trendline, connecting 1.2660 and 1.2754 lows at 1.2930, was taken out. Next key levels lay at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform. Overall outlook remains bearish, however, oversold daily studies suggest that corrective actions in the near-term cannot be ruled out. Psychological 1.3000 barrier offers good resistance and caps for now.

Res: 1.2900; 1.2920; 1.2956; 1.2987

Sup: 1.2865; 1.2800; 1.2786; 1.2750

Cable remains under pressure and resumes steep downleg which commenced from 1.6642, 01 Sep lower top and was accelerated by weekly gap-lower opening. The price approaches its target and psychological support at 1.6000, which also marks a mid-point of one-year 1.4812/1.7189 rally. Break lower to target 1.5967, Fibonacci 100% expansion of the third wave from 1.6642 and 1.5900, round figure support, in extension. Oversold near-term condition may show hesitation ahead of 1.6000 target, with bounces to face initial resistances at 1.6185 and 1.6230 and 1.6280 zone last Friday’ lows, expected to cap. Overall bearish structure sees the downside favored, despite oversold daily studies, as sentiment is still negative and no reversal signals being generated yet.

Res: 1.6185; 1.6230; 1.6280; 1.6300

Sup: 1.6062; 1.6000; 1.5967; 1.5900

The pair remains well supported and continues to trend higher, with 106 barrier being taken out. Fresh gains post new 4-year highs, with upside targets at 107.20, Fibonacci 138.2% projection of the upleg from 100.81 and 108.28, Fibonacci 161.8% projection. Further gains are expected to open Sep 2008 high at 109.10, and lower top at 110.66, posted in Aug 2008. Initial supports lay at 105.70 and 105 zone, ahead of higher **** at 104.70, loss of which will be bearish

Res: 105.21; 105.70; 106.00; 106.20

Sup: 105.70; 105.00; 104.70; 104.26

Near-term structure turned bearish as yesterday’s long red candle reversal after 0.94 upside rejection, signal further weakness. Bears took out 0.9260, 03 Sep higher low and the last support on the way to 0.9237, near-term ****. This level offers strong support and potential break lower would turn overall picture firmly bearish and signal resumption of larger descend off 0.9503, 01 July peak. Negatively aligned daily studies support the notion, however, consolidative action ahead of this support is expected, as near-term studies are oversold. Psychological 0.93 barrier, also Fibonacci 38.2% of 0.9400/0.9248 downleg, offers initial barrier, with extended rallies to be capped by 0.9330, to maintain negative structure.

Res: 0.9287; 0.9300; 0.9330; 0.9372

Sup: 0.9248; 0.9237; 0.9200; 0.9180

The Euro is near-term corrective mode after fresh bears broke below 1.2930, 1.2660/ 1.2754 bull-trendline and extended under 1.29 handle, to reach fresh low at 1.2858. Recovery action was supported by yesterday’s positive close, however, no significant upside action would be expected, as long as 1.2987, yesterday’s high and psychological 1.30 barrier stay intact. Hourly studies gained traction, while 4-hour structure remains weak, along with overall negative picture, which keeps focus at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform.

Res: 1.2977; 1.2987; 1.3000; 1.3044

Sup: 1.2858; 1.2800; 1.2786; 1.2750

Cable consolidates recent losses and shows near-term basing attempt at fresh lows, just ahead of psychological 1.6000 support. Upside heading near-term indicators are supportive for stronger corrective action, which was signaled by oversold daily conditions and yesterday’s Doji candle. Confirmation of such scenario requires today’s positive close. Initial resistance lies at 1.6185, 08 Sep intraday high, ahead of more significant 1.6230, week’s high, clearance of which to accelerate attempts of Monday’s gap filling and regain of pivotal 1.6330 lower top. Otherwise, narrow consolidation would be expected to precede eventual attack at 1.60 support.

Res: 1.6185; 1.6230; 1.6280; 1.6300

Sup: 1.6057; 1.6000; 1.5967; 1.5900

The pair remains well supported and continues to trend higher, with near-term price action establishing above 106 handle. Fresh gains post new 4-year highs, with upside targets at 107.20, Fibonacci 138.2% projection of the upleg from 100.81 and 108.28, Fibonacci 161.8% projection. Further gains are expected to open Sep 2008 high at 109.10, and lower top at 110.66, posted in Aug 2008. Initial supports lay at 106.00 and 105.70, where dips should ideally find footstep. Otherwise deeper pullback is expected to threaten 105.40, Fibonacci 61.8% of 104.67/106.55 and psychological 105 support, in extension.

Res: 105.70; 106.00; 106.20; 106.50

Sup: 106.00; 105.70; 105.00; 104.70

Near-term structure remains bearish, with increased pressure eventually pushing the price through near-term ****s at 0.9237 and 0.9200, as well as 0.9180, Fibonacci 38.2% retracement of 0.8658/ 0.9503 ascend/200SMA. This confirms an end of short-term congestion and further reversal off 0.9503 peak. The price is now looking for extension towards 0.9100, round-figure support and 0.9080, 50% retracement, ahead of 0.9050, weekly Ichimoku cloud ****. Overall bearish structure supports the notion, with corrective attempts to face 200SMa as initial resistance, ahead of former ****s at 0.92 and 0.9237.

Res: 0.9180; 0.9200; 0.9217; 0.9237

Sup: 0.9100; 0.9080; 0.9050; 0.9000

The Euro holds below last Friday’s fresh recovery high, with positive near-term tone and Friday’s ticks higher, marking positive daily close, after the price broke above bear-trendline, drawn from 1.2987 high. Immediate price action, however, lacked momentum for further upside, despite gap-higher opening, as gains were pared after failure to clear last week’s high, which is ticks away from 05 Sep pivotal 1.2987 high. Friday’s closing level, also 38.2% retracement of 1.2907/1.2977 upleg, offers so far good support, above which fresh attempts towards 1.2987/1.3000 barriers, are expected to commence and confirm near-term recovery resumption on a break higher. Alternatively, loss of 1.2950 handle and broken bear-trendline at 1.2938, now acting as support, as well as 1.2930, bull-trendline, drawn off 1.2858 low / Fibonacci 38.2% of 1.2858/1.2977 upleg, would soften near-term tone and look for fresh retracement of near-term corrective rally.

Res: 1.2977; 1.2987; 1.3000; 1.3044

Sup: 1.2950; 1.2930; 1.2900; 1.2882

Near-term price action trades in consolidative mode, with 1.62 support holding the downside, while fresh recovery peak at 1.6275, also daily Tenkan-sen line, caps for now. This keeps psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral/positive and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative and fundamentals are putting additional pressure on Sterling.

Res: 1.6275; 1.6300; 1.6338; 1.6357

Sup: 1.6200; 1.6184; 1.6155; 1.6123

The pair remains positive and closed above 107 handle, with weekly chart showing long green candle, which confirms overall bulls and further attempts towards 108/110, next target zone. Near-term price action holds in narrow-range, consolidative mode, with 107.00 offering initial support, ahead of 106.50. On the upside, 107.50 is initial barrier, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81.

Res: 107.50; 108.00; 108.28; 109.00

Sup: 107.00; 106.50; 106.00; 105.70

The pair maintains negative tone, with additional pressure seen on weekly gap-lower opening, which brought the price below psychological 0.90 support. Long red previous week’s candle and retracement of 61.8% of 0.8658/0.9503 ascend, supports the notion of further weakness and potential attempts to fully retrace 0.8658/0.9503 rally. Corrective rallies are for now expected in light mode, with session highs at 0.9015, offering initial barrier, ahead of last week’s closing levels at 0.9040, where the next strong resistance lies.

Res: 0.9000; 0.9015; 0.9040; 0.9071

Sup: 0.8980; 0.8950; 0.8923; 0.8900

The Euro continues to trade in a sideways mode, capped for now under 1.2977/85 barriers, with corrective pullbacks being contained above 1.29, round-figure support / Fibonacci 61.8% of 1.2858/1.2977 corrective rally. Neutral near-term studies see scope for further consolidation, while overall negative tone, renewed with yesterday’s close in red, suggests fresh leg lower after completion of near-term consolidative phase. Strong barriers at 1.2977/85, as well as psychological 1.3000 resistance, keep the upside limited for now and only break above the latter would revive near-term bears for stronger bounce, which would sideline attempts towards short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2750 higher ****.

Res: 1.2958; 1.2977; 1.2987; 1.3000

Sup: 1.2920; 1.2900; 1.2882; 1.2858

Cable’s near-term price action remains in consolidative mode, with immediate tone showing signs of weakness, as the price action moves towards the consolidation floor at 1.62 zone, after yesterday’s close in red. Recovery peak at 1.6275, has so far limited the upside action, keeping psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative.

Res: 1.6249; 1.6275; 1.6300; 1.6338

Sup: 1.6200; 1.6184; 1.6155; 1.6123

The pair remains positive overall, with near-term price action moving in consolidative mode, which was signaled by yesterday’s Doji candle. Important 107 support holds for now, despite brief probe below overnight, keeping immediate focus at the upside, for test of initial target at 107.50, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, however, should be contained at 106.50/35 zone, to keep bulls unharmed.

Res: 107.38; 107.50; 108.00; 108.28

Sup: 106.92; 106.50; 106.35; 106.00

The pair maintains negative tone, with near-term corrective action off fresh low at 0.8982, being capped at 0.9050, by descending hourly 55SMA. Fresh weakness below 0.90 handle, confirms bears are in play, for fresh extension towards the next target at 0.8889, 02 Mar higher low, with full retracement of 0.8658/0.9503 ascend, being in play. Only fresh strength above 0.9050 would sideline immediate bears for stronger corrective attempt.

Res: 0.9000; 0.9020; 0.9050; 0.9071

Sup: 0.8980; 0.8950; 0.8923; 0.8900

Near-term tone is positively aligned and sees the upside targets at 1.3000/1.3040 zone, round figure / 50%/61.8% retracement of 1.3153/1.2858 downleg in focus, as the price ticked higher, approaching initial 1.30 barrier. These levels are seen as turning points and sustained break would signal stronger recovery action in the near-term. Broken-bull-trendline off Nov 2012 low, now offer support and would keep afloat bulls, developing on lower timeframes charts. On the other side, overall picture remains negative, with downside risk towards 1.2786/50 targets, expected to remain in play, as long as 1.3153 lower top and breakpoint stays intact.

Res: 1.2977; 1.2993; 1.3000; 1.3040

Sup: 1.2930; 1.2900; 1.2882; 1.2858

Cable regained strength in near-term action off 1.6159, yesterday’s correction low and cracked important 1.63 barrier. Bulls are coming in play on lower timeframes, which supports attempts through 1.63 hurdle, clear break of which is required to resume recovery rally off 1.6050, low of 10 Sep. However extension above 1.6340 is needed to fill the gap of 08 Sep and confirm recovery action, which will also neutralize bearish engulfing pattern, developing on the daily chart, which requires extension below yesterday’s low at 1.6159, to confirm reversal.

Res: 1.6309; 1.6338; 1.6416; 1.6463

Sup: 1.6247; 1.6210; 1.6184; 1.6159

The pair remains positive and regains levels above 107, with near-term price action continuing to move in consolidative mode, off fresh high at 107.38. This keeps immediate focus at the initial target at 107.50, to signal an end of consolidative phase and open 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, are expected to hold above 106.50/35 support zone, to keep bulls intact, as the pair is looking for extension towards 108/110 zone in the near term.

Res: 107.38; 107.50; 108.00; 108.28

Sup: 106.79; 106.50; 106.35; 106.00

The pair holds overall negative tone, with near-term corrective action off fresh low at 0.8982, accelerating after clearance of initial 0.9050 barrier. Hourly studies improved on a probe above 0.91 barrier and see room for further recovery action, as the rally cracked pivotal 0.9100/26, 50%/61.8% retracement of 0.9216/0.8982 zone. Sustained break above the latter to confirm hourly double-bottom formation, revive bulls on still weak 4-hour studies and spark further recovery, which would expose 200SMA at 0.9181. Alternatively, false break through 0.91 barrier, would re-focus 0.9050, now acting as support and risk return to the lows below 0.90 handle.

Res: 0.9110; 0.9126; 0.9160; 0.9181

Sup: 0.9059; 0.9050; 0.9000; 0.8980

The Euro accelerated lower post Fed and erased gains of corrective 1.2858.1.2993 rally, with lower top left at 1.2993. This confirms 1.30 zone as strong barrier, as break below previous low at 1.2858, shifts focus towards 1.2800, round-figure support and short-term targets at 1.2786, Fibonacci 61.8% retracement of 1.2042/1.3992 and 1.2750 higher ****. Near-term technicals turned bearish and support the notion, with corrective attempts off fresh session lows, ideally to be capped at 1.29 zone, near 50% of 1.2978/1.2832 downleg.

Res: 1.2888; 1.2900; 1.2920; 1.2942

Sup: 1.2852; 1.2832; 1.2800; 1.2786

Cable remains steady and returns to 1.63 zone, which was broken on yesterday’s extension to 1.6356. Subsequent corrective action found support at 1.6245, to signal an end of corrective action and fresh attempt higher, which would look for clearance of 1.6380, daily 20SMA and levels above 1.64 barrier, Fibonacci 61.8% of 1.6642/1.6050, to confirm recovery. Near-term studies hold positive tone and support scenario, however, negative larger picture technicals and yesterday’s Doji candle, require caution, as failure to regain fresh highs and weakness which would violate 1.6245 support, would signal an end of corrective phase and shift near-term focus lower.

Res: 1.6356; 1.6380; 1.6416; 1.6464

Sup: 1.6245; 1.6200; 1.6159; 1.6100

The pair resumes larger rally after completing near–term consolidation phase, with fresh strength of the dollar, establishing the price above 108 level. Fresh bulls are approaching initial 109 barrier, ahead of next levels at 109.50 and psychological 110.00, en-route towards 110.66, Aug 2008 peak. Overbought near-term studies suggest corrective action ahead of fresh rally. Higher lows at 107 zone, should ideally contain pullbacks.

Res: 108.85; 109.00; 109.50; 110.00

Sup: 108.36; 108.00; 107.58; 107.28

The pair’s hourly structure returned to bearish mode, after recovery rejection at 0.9110 and fresh weakness, which again took out psychological 0.9000 support. With 4-hour and daily studies maintaining negative tone and yesterday’s long red candle, focus remains firmly lower. Fresh leg lower, which commenced from 0.9110 lower top, could travel to 0.8848, its Fibonacci 61.8% expansion, initially, with extension to 0.8682, 100% expansion, to signal possible full retracement of 0.8658/0.9503 ascend.

Res: 0.9000; 0.9020; 0.9045; 0.9082

Sup: 0.8937; 0.8900; 0.8848; 0.8800

The Euro posted marginally lower low at the beginning of the week, pointing towards initial 1.28 support and short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2754/44 higher ****. Fresh extension lower signal that the third wave off 1.3699 lower top of 01 July, is not completed yet and could travel towards 1.2675, its 200% expansion. Further downside is favored for now with the notion being supported by weekly bearish engulfing pattern. However, overextended daily studies require caution, as indicators are starting to reverse, with confirmation of corrective action seen on a break above last Thu/Fri lower platform at 1.2928, near 61.8% of 1.2978/1.2824 descend. Extension higher to open 1.30 breakpoint zone, for more significant upside action, expected on a break.

Res: 1.2883; 1.2900; 1.2928; 1.2980

Sup: 1.2824; 1.2800; 1.2786; 1.2754

Last Friday’s strong pullback from fresh recovery high at 1.6522, retraced 50% of entire 1.6050/1.6522 rally and over 61.8% of 1.6159/1.6500 upleg, on a dip to 1.6284. Temporary support was found here, as reversal was so far contained above bull-trendline drawn off 1.6050 low, which keeps 4-hour structure in bullish mode so far, with regain of levels above 1.64 barrier, required to re-focus 1.6522 and open key barriers above 1.66. On the other side, weakened hourly structure, along with last Friday’s close in red, see risk of further downside, which requires break below trendline support at 1.6280 and extension below 1.6230, Fibonacci 61.8% of 1.6050/1.6522 upleg, to confirm negative scenario.

Res: 1.6375; 1.6400; 1.6431; 1.6468

Sup: 1.6284; 1.6231; 1.6200; 1.6159

Overall bulls remain in play, as the pair broke above 109 and posted fresh high at 109.42. Positive daily and weekly close is supportive for eventual push towards psychological 110 barrier and 110.66, Aug 2008 peak, short-term targets. Corrective dips are so far contained at 108.65, just above last Friday’s low at 108.57 and 108.42, Fibonacci 38.2% of 106.98/109.42, where consolidative action should ideally find footstep. Otherwise, easing below 108 handle, is expected to signal stronger correction and delay immediate bulls.

Res: 109.17; 109.42; 110.00; 110.66

Sup: 108.60; 108.42; 108.00; 107.80

The pair remains under pressure and attempts at 0.89 support, signaling an end of consolidative 0.8925/0.8995 phase. Near-term technicals maintain negative tone, with the notion of further extension of the downleg from 0.9110 lower top, being supported by last Friday’s Outside Day candle. Break below 0.89 handle, opens 0.8857, Fibonacci 76.4% of 0.8658/0.9503 ascend and 0.8846, 05 Aug 2013 low, the last obstacles en-route towards 0.8658, 24 Jan 2014 low. Corrective actions should ideally stay capped by 0.90 barrier, while only break here would signal extended corrective action and delay immediate bears.

Res: 0.8948; 0.9000; 0.9040; 0.9079

Sup: 0.8900; 0.8846; 0.8819; 0.8800

The Euro continues to gradually move lower on approach to initial targets at 1.2800, round figure support and more significant 1.2786, Fibonacci 61.8% of 1.2042/1.3992 ascend and higher **** of Mar/July 2013 at 1.2754/44. Overall picture remains bearish and sees further downside favored, with extension below 1.2744, expected to open 1.2660, Nov 2012 low, the last significant obstacle on the way towards 1.2042, low of 2012. Lower timeframes studies show negative tone prevailing on 4-hour chart and consolidation above 1.28 handle, marked by neutral hourly technicals. Consolidation high at 1.2866, offers initial resistance zone, reinforced by bear-trendline, drawn off 1.2978, along with 1.2877, Fibonacci 38.2% of 1.2978/1.2815 downleg. More significant barrier lies above 61.8% retracement at 1.2928 lower platform, clearance of which to expose 1.30 breakpoint. Overextended daily studies, with RSI / MACD bullish divergence developing, suggest corrective action in the near-term.

Res: 1.2877; 1.2900; 1.2928; 1.2978

Sup: 1.2841; 1.2815; 1.2800; 1.2786

Cable’s rally off 1.6284, 19 Sep corrective pullback’s low, lost traction on approach to 1.64 barrier, bringing near-term focus again at lower targets. Retest of 1.63, round-figure support and bull-trendline, drawn off 1.6050 low, sees increased risk of attack at 1.6284, with break lower to signal resumption of near-term descend from 1.6522 and expose 1.6231, Fibonacci 61.8% of 1.6050/1.6522 and 1.6159, 16 Sep higher low. On the other side, holding above the trendline support, would keep hopes of fresh attempts higher in play. Regain 1.64 handle is seen as minimum requirement to confirm bullish scenario.

Res: 1.6389; 1.6400; 1.6431; 1.6479

Sup: 1.6300; 1.6284; 1.6230; 1.6200

The pair trades in near-term consolidative mode, under fresh high at 109.42, posted last week. Near-term risk of further hesitation ahead of short-term targets at psychological 110 and 110.66, Aug 2008 peak increases, as hourly structure is weakening and consolidation floor at 108.57, was taken out. The notion is supported by yesterday’s Inside Day candle, which suggests a pause ahead of 110.00/110.66 targets. Fresh weakness could extend to 108/ 107.80, round-figure / Fibonacci 61.8% of 106.79/109.42 ascend, with strong support and breakpoint, lying at 107 zone.

Res: 108.57; 108.83; 109.00; 109.18

Sup: 108.23; 108.00; 107.80; 107.50

The pair corrects higher after yesterday’s fresh weakness through 0.89 handle, reached new low at 0.8851, coming ticks away from initial target at 0.8846, Fibonacci 61.8% expansion of the wave from 0.9110 / 05 Aug 2013 low. Overall negative structure keeps the downside in focus, with near-term targets at 0.88, then 0.8783, Fibonacci 76.4% expansion and 0.8682, 100% expansion, ahead of key short-term support at 0.8658, 24 Jan 2014 low. Corrective actions should be ideally capped under 0.90 barrier, while only break here would signal stronger corrective action and delay immediate bears.

Res: 0.8921; 0.8950; 0.8990; 0.9011

Sup: 0.8846; 0.8819; 0.8800; 0.8783

The Euro holds negative tone, as weekly close in red and below Fibonacci 61.8% of larger 1.2042/1.3992 ascend, confirms strong bearish stance. Break below 1.27 support comes ticks away from 1.2660, Nov 2012 low, the last strong obstacle en-route towards 1.2042, which is expected to come in near-term focus on a break and close below 1.2660. The third wave, off 1.3699 lower top, met its 200% expansion target at 1.2675 and would look for further extension towards 1.2360, Fibonacci 261.8% expansion, ahead of 1.2042 target. Corrective actions on oversold near-term studies face initial resistance at 1.27 level and should be ideally capped under 1.2760 lower platform

Res: 1.2700; 1.2760; 1.2800; 1.2815

Sup: 1.2660; 1.2600; 1.2550; 1.2500

Cable consolidates above fresh lows just above 1.62 support, following break below important 1.63 level and daily/weekly close below. Overall negative structure sees the downside favored, with key near-term term target at 1.6000, psychological support / 50% retracement of larger 1.4812/1.7189 ascend. The pair rides on the third wave, which commenced from 1.6413 lower top and is looking for 1.6175, its 100% Fibonacci expansion, then 1.6084, 138.2% expansion, ahead of 1.6050, 10 Sep low, on the way towards 1.6000 target. Corrective attempts should stay under 1.6300/40 barriers, to keep the structure intact.

Res: 1.6251; 1.6275; 1.6300; 1.6339

Sup: 1.6211; 1.6200; 1.6175; 1.6159

Near-term bulls are back in play after the price broke above 109.42, previous high, confirming an end of near-term consolidative phase. Price action is looking for test of near-term targets at psychological 110 and 110.66, Aug 2008 peak. Fresh action higher is signaled by last Friday’s bullish Engulfing Pattern, which suggests further upside. Extension above 110.66 to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Previous range tops offer initial support, ahead of 109, round-figure and 108.46, 26 Sep higher low, above which dips should find footstep.

Res: 109.73; 110.00; 110.66; 111.00

Sup: 109.42; 109.00; 108.46; 108.23

The pair continues to trend lower, with 0.87, round-figure support, being cracked and the price met the next target at 0.8682, Fibonacci 100% expansion of the wave from 0.9110. Bears are looking for final push towards key 0.8658, low of 24 Jan, to mark full retracement of 0.8958/0.9503 ascend. The third wave could extend to 0.8519, its 138.2% expansion, once 0.8658 is taken out, however, oversold near-term technicals suggest a hesitation ahead of key 0.8658 support. Psychological 0.90 level, offers good resistance and should keep the upside attempts limited.

Res: 0.8746; 0.8810; 0.8829; 0.8895

Sup: 0.8682; 0.8658; 0.8600; 0.8550

The Euro resumed its larger downtrend which was interrupted by narrow consolidation and eventually broke and close below near-term target at 1.2660, Nov 2012 low. Fresh weakness also probed below psychological 1.26 support, on a dip to 1.2569, new two-year low, with subsequent consolidation hovering around 1.26 handle. Bears remain firmly in play and favor further downside, with no significant supports on the way towards 1.2042, July 2012 low. Fibonacci 76.4% of 1.2042/1.3992 ascend at 1.2502, is seen as immediate target, ahead of 261.8% expansion of the wave from 1.3699 at 1.2360 and, low of May 2012, at 1.2287. Corrective actions are expected to find solid barriers at 1.2700/60 zone

Res: 1.2662; 1.2700; 1.2760; 1.2810

Sup: 1.2600; 1.2569; 1.2502; 1.2450

Cable’s overall structure is negative and favors further downside, focusing near-term target at 1.6000, psychological support and 50% retracement of larger 1.4812/1.7189 ascend. Descend from 1.6522, 19 Sep high, so far extended to 1.6162, retracing 76.4% of 1.6050/1.6522, coming ticks away from higher low of 16 Sep at 1.6159 and key 1.6050, 10 Sep low, the last obstacle on the way towards 1.6000 target. Corrective rallies were capped under psychological 1.63 barrier, which, should keep the upside protected. Only break above the latter would sideline bears and sparks stronger corrective action.

Res: 1.6200; 1.6228; 1.6285; 1.6300

Sup: 1.6159; 1.6100; 1.6050; 1.6000

Fresh rally has eventually cracked psychological 110 barrier, en-route to near-term target at and 110.66, Aug 2008 peak. Last Friday’s Outside Day candle signaled fresh attempts higher, with clearance of 110.00/ 110.66, to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Higher low at 109.54, offers immediate support, ahead of psychological 109 level, where dips should be contained.

Res: 110.07; 110.66; 111.00; 111.50

Sup: 109.54; 109.12; 109.00; 108.46

The pair maintains negative tone and moved lower, to nearly fully retrace 0.8658/ 0.9503 rally. Fresh extension below near-term consolidation floor, weakened hourly structure, signaling further weakness below 0.8658, which is expected to open immediate targets at 0.8600, round-figure, then 0.8543, 50% retracement of 0.6007/1.1079 and 0.8519, 138.2% Fibonacci expansion of the third wave from 0.9110. The upside action so far looks limited and is expected to ideally hold below 0.87 barrier. Only break above hold below 0.8760 lower platform, would delay bears.

Res: 0.8700; 0.8730; 0.8760; 0.8800

Sup: 0.8661; 0.8658; 0.8600; 0.8543

The Euro remains bearish overall, with near-term consolidative phase above fresh low at 1.2569 under way. The pair failed for the second day to close below psychological 1.26 level, which, along with yesterday’s Doji candle, signals further hesitation. Strong resistance levels at 1.2700/10, also near 38.2% Fibonacci retracement of 1.2900/1.2569 downleg, offer initial barrier, ahead of 1.2735, 50% retracement / 4-hour 55SMA and lower top / Fibonacci 61.8% at 1.2659/73. Lift and daily close above 1.2700/10, reinforced by daily 10SMA, to signal near-term basing attempt and further attempts higher, with clearance of 1.2773, Fibonacci barrier, required to confirm correction. However, bears remain favored, as larger picture technicals are negatively aligned and see room for further easing, despite overextended conditions of daily and weekly chart studies. Immediate target lies at 1.25, psychological support / Fibonacci 76.4% of 1.2042/1.3992 ascend, with the third wave off 1.3699 lower top, capable of travelling to 1.2360, its 261.8% Fibonacci expansion.

Res: 1.2710; 1.2735; 1.2760; 1.2810

Sup: 1.2618; 1.2600; 1.2582; 1.2569

Cable maintains negative tone and sees further easing favored, with near-term focus at psychological 1.6000 support, also 50% retracement of larger 1.4812/1.7189 ascend. Downleg from 1.6522, 19 Sep high, met its target at 1.6159, 16 Sep higher low, also Fibonacci 76.4% retracement of 1.6050/1.6522, coming ticks away from key 1.6050, 10 Sep low, the last obstacle on the way towards 1.6000 target. Corrective rallies were so far capped under psychological 1.63 barrier, which is expected to keep the upside protected. Only break above the latter would delay bears and signal stronger corrective action.

Res: 1.6250; 1.6285; 1.6300; 1.6339

Sup: 1.6170; 1.6159; 1.6100; 1.6050

The pair entered near-term corrective phase after cracking psychological 100 barrier and initial target. Extension below 109 support, signals further easing, as the pair approaches the next breakpoint and higher **** at 108/45/25 zone. Yesterday’s Outside Day candle, could be a signal of stronger correction, which requires break below 108.25, to be confirmed. Indicators on 4-hour chart are breaking into negative territory and support negative near-term outlook, as daily indicators started to point lower and RSI came out of overbought territory. Oversold hourly studies, however, see corrective rally in the near-term, with initial barrier at 109.10, session high / Fibonacci 38.2% of 110.07/108.54 downleg / previous low of 29 Sep, followed by 109.30, 50% retracement / hourly 55SMA and 109.49, Fibonacci 61.8% retracement of 110.07/108.54.

Res: 109.12; 109.30; 109.49; 109.71

Sup: 108.54; 108.46; 108.25; 108.00

The pair bounces after completing 0.8658/ 0.9503 rally, with gains cracking psychological 0.88 barrier, also Fibonacci 61.8% of 0.8886/0.8660 downleg. Daily 10SMA and 4-hour 55SMA, so far limited rally, with sustained break above 0.8800/20 zone, required to spark stronger bounce and open next significant targets at 0.8900/25. Daily indicators are reversing from oversold territory and support further recovery. Alternatively, renewed downside risk would be expected on confirmation of lower top at 0.8814, session high.

Res: 0.8814; 0.8830; 0.8886; 0.8925

Sup: 0.8780; 0.8757; 0.8721; 0.8700

The Euro has eventually broken initial 1.2700/15 resistance, on a strong rally through three-day congestion tops. Extension above initial barriers at 1.2735/56, 4-hour cloud top / 50% retracement of 1.2993/1.2499 downleg, probes above daily 20 SMA at 1.2760, en-route towards 1.28 zone, Fibonacci 61.8% / round-figure resistance. Firm bullish tone of near-term studies, supports further extension of corrective rally from 1.2500 low, with yesterday’s close for the third consecutive day and daily RSI out of oversold zone, underpinning near-term corrective action, before larger bears re-assert for fresh leg lower. Previous barriers at 1.2700/15, now act as initial supports and should ideally keep the downside protected, while break lower would open 1.2650/20 support zone in extended pullback.

Res: 1.2800; 1.2815; 1.2862; 1.2900

Sup: 1.2758; 1.2715; 1.2700; 1.2680

The pair extended corrective rally off 1.5950 and probed through psychological 1.62 barrier, also 4-hour cloud ****, to mark over 76.4% retracement of 1.6250/1.5950 downleg. Near-term target at 1.6250 is in focus, with positive tone established on near-term studies, signaling bears are sidelined. Regain and break above 1.6250, is required to confirm extended correction scenario. Consolidative action on overbought hourly studies under 1.62 barrier, should be contained above 1.6130/00 supports, previous high / Fibonacci 38.2% of 1.5950/1.6196 ascend, before fresh attempt higher. Break above 1.62 to open 1.6230, daily 20SMA, ahead of key barrier at 1.6250 lower platform.

Res: 1.6215; 1.6230; 1.6250; 1.6285

Sup: 1.6150; 1.6130; 1.6100; 1.6073

The pair remains under pressure, as corrective rally from fresh low at 107.41, stalled on approach to important 109 barrier and subsequent weakness nearly fully retraced the rally. Yesterday’s Doji candle, with long upper wick, signals increased pressure. Break below 107.41 looks for psychological 107 support and more significant 106.80/64, 16 Sep higher low / Fibonacci 38.2% retracement of 101.07/110.07 ascend. Near-term studies are negative and favor further easing, with the notion being supported by south-heading daily indicators.

Res: 108.00; 108.30; 108.73; 108.81

Sup: 107.50; 107.00; 106.80; 106.64

The pair continues to move higher, in extended corrective phase off fresh low at 0.8641, posted on 03 Oct. Clearance of pivotal 0.8825 barrier, 02 Oct high, triggered fresh rally, which broke above daily 20SMA at 0.8867 and came ticks away from pivotal 0.8900, barrier. Sustained break here is required confirm near-term **** and open way for stronger correction of the larger downtrend from 0.9400, 05 Sep peak, with immediate target at 0.8931, Fibonacci 38.2% of 0.9400/0.8641. Hesitation at 0.89 barrier could be expected, with previous barriers at 0.8825/00, now offering solid supports.

Res: 0.8900; 0.8931; 0.8950; 0.9000

Sup: 0.8850; 0.8825; 0.8790; 0.8762

The Euro maintains positive near-term tone, as bounce off 1.2600 zone approaches previous high at 1.2790, in attempt to create higher low. Break above strong 1.2700/20 barriers and subsequent acceleration, retraced over 76.4% of 1.2790/1.2603 downleg, seeing scope for final push through 1.2790/1.2800 breakpoints, previous high / Fibonacci 61.8% retracement of 1.2993/1.2499 descend, break of which to resume recovery rally off 1.2499, 03 Oct low. Yesterday’s positive close, with break and close above daily 20SMA, along with positive near-term studies, supports the notion. Corrective actions under initial 1.27 support, should be contained above 1.2663 higher low and Fibonacci 61.8% retracement, to keep bulls in play.

Res: 1.2726; 1.2766; 1.2790; 1.2800

Sup: 1.2685; 1.2663; 1.2650; 1.2632

Cable maintains overall negative tone, with near-term bears returning to play, after bounce off 1.6006 higher low of 10 Oct, was capped by descending daily 20SMA at 1.6125. Consolidative action, signaled by yesterday’s Doji, is completed and fresh weakness through 1.60 support zone, is looking for completion 1.5950/1.6225 upleg. Eventual break below 1.5950 handle to open way for fresh retracement of larger 1.4812/1.7189 ascend.

Res: 1.6000; 1.6049; 1.6078; 1.6110

Sup: 1.5950; 1.5900; 1.5853; 1.5800

The pair remains under pressure and eventually broke below strong 107.00/106.80 support zone, psychological support / 16 Sep low. Yesterday’s close in red, as well as bearish near-term studies, signal further weakness and extension of pullback from 110.07, peak of 01 Oct. Extension below 107.00/106.80 support zone, eyes immediate support at 106.64/55, Fibonacci 38.2% retracement of 101.07/110.07 ascend / Fibonacci 100% expansion of the third wave which commenced from 108.73, 08 Oct lower top. Break here to open next significant level at 105.57, 50% retracement / daily 55SMA. Corrective actions should be capped under 108.00/15 barrier, to keep bears intact.

Res: 107.29; 107.56; 108.15; 108.31

Sup: 106.74; 106.64; 106.55; 106.00

The pair’s bounce off 0.8650 low, regained 0.88 handle and 61.8% retracement of 0.8896/ 0.8650 downleg. This averts immediate risk of renewed attack at key 0.8641 low, in favor of prolonged consolidation, as the price action moves within 0.8641/0.8896 range. Hourly studies improved, which supports further recovery action, however, 4-hour studies are neutral, while daily tone is bearish. Further sideways trading is expected to precede fresh leg lower, with sustained break below 0.8641, to open 0.8543, 50% retracement of 0.6007/1.1079 ascend. Only sustained break above 0.89 barrier, would neutralize bears and mark double-bottom formation, for stronger correction of the downleg from 0.9400, 05 Sep lower top.

Res: 0.8812; 0.8832; 0.8896; 0.8931

Sup: 0.8734; 0.8700; 0.8650; 0.8641

The Euro remains in near-term sideways mode, trading within 1.2700/1.2840 consolidative range, after last week’s strong acceleration higher spiked at 1.2884. Friday’s attempts at range tops were unsuccessful, with subsequent quick pullback to the range’s lower zone, weakening hourly structure. On the other side, 4-hour studies maintain positive tone, with price action being supported by 55SMA for now. Larger picture studies are also mixed, as last Friday’s close in red, keeps the pair under pressure, while the second consecutive positive weekly close, although with limited upside power, according to long upper wicks of the candles, suggests lacks of momentum for final push higher. This would signal extended consolidative phase, with break of either side, required to establish fresh direction. Immediate supports lay at 1.2727/22, 4-hour 55SMA/Fibonacci 61.8% of 1.2622/1.2884 and 1.2700, range floor and 16 Oct spike low, loss of which to weaken near-term structure for further correction of 1.2499/1.2884 ascend. Conversely, fresh strength above range top, to signal resumption of recovery rally from 1.2499, 03 Oct low, for attempt at pivotal 1.29/1.30 barriers.

Res: 1.2778; 1.2800; 1.2843; 1.2884

Sup: 1.2722; 1.2700; 1.2646; 1.2622

Cable consolidates after hitting pivotal 1.6125 barrier, lower top of 13 Oct, clear break of which is required to complete the first step of recovery action from 1.5875 low and open the breakpoint at 1.6225, 09 Oct lower top. Positive tone prevails on lower timeframes studies and supports further recovery action. On the other side, indecision is signaled on larger picture, as both daily and weekly closes, were in Doji candle, as daily action remains capped by descending 20SMA, while weekly 100SMA so far held upside attempts. Extended consolidative phase is seen likely in the near-term and unless the price rallies to key 1.6225 barrier, risk of ending near-term corrective phase, will remain in play. Initial supports lay at 1.6081 and 1.6057, while violation of pivotal higher low at 1.6030, also Fibonacci 38.2% of 1.5875/1.6125 upleg, would sideline near-term bulls.

Res: 1.6111; 1.6125; 1.6142; 1.6200

Sup: 1.6081; 1.6057; 1.6030; 1.6000

The pair remains steady in near-term trading, as acceleration of corrective rally off 105.18, 15 Oct low, stabilizes above 107 handle, following, weekly gap-higher opening. Completion of 107.50/105.18 phase, lower top of 15 Oct / 50% of 109.89/105.18 descend / daily 20SMA and sustained break higher, which also requires clearing daily Kijun-sen line at 107.63, is required to sideline bears and signal further recovery. Studies of 4-hour and daily chart are attempting at their midlines, with break higher to confirm bullish resumption. Alternatively, extension and close below 107 handle would be initial signal of lower top formation and fresh weakness.

Res: 107.38; 107.50; 107.63; 108.00

Sup: 107.00; 106.77; 106.56; 106.33

The pair remains in near-term sideways mode, as price action continues to move within narrowed 0.8734/0.8810 price span, part of larger 0.8641/0.8896 consolidative range. Overall bearish tone remains in play and sees fresh extension of larger downtrend as preferred scenario, as the price action holds below descending daily 20SMA for now. Top of corrective range at 0.89, along with 38.2% of 0.9400/0.8641, marks strong barrier and breakpoint and only sustained break here would have more significant impact on short-term bears. Last Friday’s Doji, however, would signal prolonged consolidation, before the price establishes in fresh direction.

Res: 0.8786; 0.8810; 0.8836; 0.8858

Sup: 0.8746; 0.8731; 0.8700; 0.8684

The Euro probes above 1.28 barrier, on a fresh strength, off yesterday’s low at 1.2730. Near-term price action continues to trade in choppy consolidation, entrenched within 1.2700/1.2840 range. Positively aligned near-term studies and yesterday’s positive close keep fresh upside attempts towards the range tops in play, as price action is supported by rising 100SMA and daily Kijun-sen line. However, overall picture remains negative and unless the price extends above range ceiling and 1.29 barrier, seen as initial barriers and trigger for attempts towards 1.30 breakpoint, expect prolonged consolidation, with downside at risk, in the near-term.

Res: 1.2843; 1.2884; 1.2900; 1.2930

Sup: 1.2787; 1.2750; 1.2730; 1.2700

Cable resumed recovery rally after consolidation below 1.6125 and heads towards psychological 1.62 barrier, also daily Kijun-sen line and key near-term resistance at 1.6225, 09 Oct lower top. Near-term studies are bullish and support further upside, with yesterday’s positive close and break above daily 20SMA, improving daily studies, which are negative and require clearance of 1.6225 breakpoint for improvement. Corrective actions should be ideally contained at 1.6065 higher ****, 38.2% retracement of rally from 1.5873, reinforced by 20/55SMA’s bull cross.

Res: 1.6200; 1.6225; 1.6250; 1.6285

Sup: 1.6150; 1.6125; 1.6100; 1.6078

The pair came under pressure after failing to regain pivotal 107.50 barrier and subsequent two-legged pullback so far reached 106.24, over 50% retracement of 105.18/107.38 upleg. Weakened near-term studies see risk of further easing, as daily bears are coming back to play and Evening Star pattern is forming on a daily chart. Completion of the pattern, which requires close at/ below 106, psychological support, reinforced by ascending daily 55SMA, also to confirm lower top formation and risk return to key near-term support at 105.18. Alternative scenario requires reversal above 106 handle and regain of 107.38/50 breakpoints, to neutralize downside risk.

Res: 106.76; 107.00; 107.38; 107.50

Sup: 106.24; 106.11; 106.00; 105.50

Near-term price action broke above initial barrier and narrowed range tops at psychological 0.80 resistance, however, price continues to trade within larger 0.8641/0.8900 range, with 4-hour chart showing no significant changes, compared to the previous sessions. Near-term studies are positively aligned, which keeps the upside targets in near-term focus. The notion is supported by positive daily close and break above 20SMA. On the other side, negative larger picture’s studies see risk of fresh push lower, once short-term consolidative phase is completed. Only sustained break above 0.89 barrier would sideline bears and signal stronger corrective action.

Res: 0.8826; 0.8836; 0.8858; 0.8900

Sup: 0.8800; 0.8756; 0.8731; 0.8700

The Euro accelerates below 1.27 support and near-term range’s lower boundary, which was attacked on a pullback, following repeated rejection at 1.2840 range tops. Yesterday’s bearish Outside Day signaled fresh weakness, which attempts below 1.27 breakpoint area, reinforced by daily 20SMA. Negatively aligned near-term studies see increased downside risk, with clear break below 1.27 zone, which also marks 50% of entire 1.2499/1.2884 corrective rally, expected to trigger further retracement. Fresh bears will open targets1.2646, Fibonacci 61.8%, ahead of troughs at 1.2622 and 1.2603. Previous low and hourly 20SMA at 1.2730, caps for now, with further recovery attempts expected to be limited under 1.2782 lower top and hourly 20/55SMA’s bear-cross. However, while 1.27 zone remains intact, prolonged sideways trade would be likely near-term scenario.

Res: 1.2700; 1.2735; 1.2758; 1.2782

Sup: 1.2646; 1.2622; 1.2600; 1.2582

Cable pulls back after failure to regain psychological 1.62 barrier, reinforced by daily Kijun-sen line, which guards 1.6225 breakpoint and high of 09 Oct. Yesterday’s close in red and failure to break above descending daily 20SMA, could be seen as initial signals of near-term weakness, as lower timeframes studies are losing traction and larger picture remains bearish. Downside extension below psychological 1.61 support and loss of 1.6064, Fibonacci 38.2% of 1.5873/1.6182, also 4-hour 20/55SMA’s bull-cross, is required to confirm near-term negative stance, with break and close below 1.60 handle, to bring near-term bears fully in play. Conversely, fresh strength above 1.6200/25, to neutralize downside threats and open way for stronger correction.

Res: 1.6100; 1.6130; 1.6150; 1.6182

Sup: 1.6057; 1.6028; 1.6000; 1.5990

The pair consolidates around 107 handle, after failing to regain pivotal 107.50 barrier and subsequent two-legged pullback found footstep 106.24. Near-term studies are neutral, while daily bears are coming back to play. Extension and close below 106, psychological support, reinforced by ascending daily 55SMA is required to signal lower top formation and risk further weakness towards key near-term support at 105.18. Alternatively, sustained break above initial 107 barrier and clearance of 107.38/50 breakpoints, to neutralize downside risk.

Res: 107.10; 107.38; 107.50; 108.00

Sup: 106.60; 106.24; 106.11; 106.00

Near-term price action remains in a range trading and returns to the range’s mid-point zone, following unsuccessful attempt above psychological 0.88 barrier. Near-term studies remain neutral and require break of either range boundary, for fresh direction, with yesterday’s Doji confirming scenario. However, overall bearish structure, favors resumption of larger downtrend from 0.9400 lower top, on completion of short-term consolidative phase. Only clear break above 0.89 breakpoint and range top would put larger bears on hold.

Res: 0.8800; 0.8836; 0.8858; 0.8900

Sup: 0.8743; 0.8731; 0.8700; 0.8684

The Euro ticked higher and probed above 1.27 barrier on extended consolidative phase off 1.2612, 23 Oct low. Last Friday positive close gives positive signal, however, failure to close above daily 20SMA, keeps the downside at risk. Extension above 1.27 barrier, so far tested 38.2% of 1.2884/1.2612 descend at 1.2716, with extension and close above 1.2750 zone, 50% retracement / daily Tenkan-sen line and broken bull-trendline off 1.2499 low, required to confirm recovery and higher **** formation at 1.26 zone. However, weak daily and 4-hour studies, see limited upside action for now, with upside rejection to risk lower top formation and possible return to strong 1.26 support area, below which, retest of key near-term support at 1.2499, would be expected.

Res: 1.2716; 1.2750; 1.2790; 1.2839

Sup: 1.2675; 1.2658; 1.2633; 1.2612

Cable bounced off important 1.60 support zone, where recent pullback was contained by daily Tenkan-sen line at Fibonacci 61.8% retracement of 1.5873/1.6182 ascend. Fresh strength, which signals reversal on last Friday’s positive close, attempts above daily 20 SMA at 1.6093 and through pivotal 1.6100/28 resistance zone, psychological barrier / double-Fibonacci resistance of 38.2% of 1.6522/1.5873 and 61.8% of 1.6182/1.5992 / lower top of 22 Oct. Break and close above here to confirm bulls which are developing on 4-hour chart and open way towards breakpoints at 1.6182/1.6225, 21/09 Oct peaks. Failure to clear 1.61 barrier would signal extended consolidation, while loss of 1.60 handle will be bearish.

Res: 1.6108; 1.6120; 1.6150; 1.6182

Sup: 1.6070; 1.6037; 1.6016; 1.5992

The pair remains supported in the near-term and trades in consolidative phase under fresh high at 108.34, where acceleration of the upleg from 106.23 was so far capped. Bulls developing on daily chart require sustained break above 108 barrier, which is now paused by Friday’s close in red. Initial supports at 107.73/63, daily 20SMA / daily Kijun-sen line, should be ideally keeping the downside protected for eventual push towards 110 breakpoint zone. However, caution is required while the price stays around 108 handle, as easing below initial supports and probe below 107.40/30, previous high / 50% retracement of 106.23/108.34 upleg, would weaken near-term structure and sideline bulls.

Res: 108.34; 108.73; 109.00; 109.22

Sup: 107.76; 107.63; 107.38; 107.29

Near-term picture structure turned positive, as the pair attempted again above 0.88 barrier, with 0.8820 zone so far capping. However, overall near-term price action continues to move in a range trading. Improved near-term studies require trigger for attack at the upper boundary of the range and establish fresh direction on a break higher. On the other side, overall negative structure, favors resumption of larger downtrend from 0.9400 lower top, on completion of short-term consolidative phase for stronger correction of larger 0.9400/0.8641 descend.

Res: 0.8820; 0.8831; 0.8858; 0.8900

Sup: 0.8782; 0.8766; 0.8747; 0.8717

The Euro continues to trade in near-term directionless mode, around 1.27 handle, with mixed picture on lower timeframes. Hourly studies have improved, while 4-hour technicals are still weak, lacking strength for eventual push through the first breakpoint at 1.2750, 50% retracement of 1.2839/1.2612 and broken bull-trendline off 1.2499 low, clearance of which to confirm near-term **** at 1.26 zone and accelerate reversal from 1.2612 low. On the larger picture, the pair is losing initial bullish momentum, despite yesterday’s positive close, as daily structure remains negative. Corrective rally off 1.2499, 03 Oct fresh low, shows that pivotal support, low of Nov 2012 at 1.2660 hasn’t been cleared yet, with bearish scenario requiring break and weekly close below here, for repeated attempt through 1.2499 and resumption of larger downtrend. Conversely, regain of 1.28 handle and extension above 1.2884, 15 Oct high, to confirm major reversal, which will allow for stronger retracement of 1.3992/1.2499 descend.

Res: 1.2721; 1.2750; 1.2790; 1.2839

Sup: 1.2663; 1.2633; 1.2612; 1.2603

Cable attempts to stabilize above 1.61, on extension of corrective rally from 1.5873 low and higher low at 1.60 zone. Further upside is favored, as reversal pattern was formed on a daily chart, where the price also cleared 20SMA. Positive near-term studies support the notion. Clearance of initial barrier at 1.6146, yesterday’s high, reinforced by daily Kijun-sen line, to open way towards key barriers at 1.6182/1.6225, 21/09 Oct peaks. Ascending daily Tenkan-sen line, currently at 1.6061, underpins the action.

Res: 1.6108; 1.6120; 1.6150; 1.6182

Sup: 1.6100; 1.6085; 1.6061; 1.6016

The pair trades in extended consolidative phase under fresh high at 108.34, where acceleration of the upleg from 106.23 was so far capped, with the downside attempts being for now contained by daily Kijun-sen line at 107.60. Bulls which started to develop on a daily chart, are fading, following two consecutive daily closes in red. Potential fresh upside action requires sustained break above 108.00/34 barriers, to confirm resumption of recovery rally from 105.18. Otherwise, downside risk will remain in play, with acceleration on a break below pivotal 107.60 support, to signal higher low formation and fresh weakness towards psychological 107 support, also Fibonacci 61.8% of 106.23/108.34 upleg.

Res: 108.00; 108.34; 108.73; 109.00

Sup: 107.60; 107.29; 107.00; 106.77

Near-term structure remains positive, as the pair attempts for sustained break above 0.88 barrier, after clearing previous congestion tops at 0.8820. This may open way for attack at the upper boundary of short-term range, as overall near-term price action remains entrenched within 0.8641/0.89 range. Improved near-term studies require close above 0.88, to open way towards pivotal 0.89 barrier and establish fresh direction on a break higher. On the other side, daily structure is still weak, with yesterday’s Doji, seeing risk of prolonged sideways trade, in case of early upside rejection.

Res: 0.8838; 0.8858; 0.8900; 0.8950

Sup: 0.8808; 0.8787; 0.8763; 0.8750

The Euro maintains near-term positive sentiment off 1.2612 low, posted on 23 Oct. Yesterday’s acceleration higher, cracked initial barrier at 1.2750, but so far holds below broken bull-trendline from 1.2499 low, currently at 1.2780. Positive near-term studies favor further upside, as the pair stabilizes above psychological 1.27 support and attempts to build higher **** at 1.2725 zone. Yesterday’s positive close above daily 20 SMA, supports the notion, as daily technicals are gaining bullish momentum and indicators are heading north. With positive technicals, fundamentals are expected to be main driver of the pair, as today’s Fed announcement is in focus. Key levels and break points remain unchanged, with sustained break above 1.2800/84, required to confirm extended correction off 1.2499, while weekly close below pivotal 1.2660, Nov 2012 low and loss of 1.2499, 03 Oct low, is required to signal resumption of larger downtrend.

Res: 1.2763; 1.2780; 1.2800; 1.2839

Sup: 1.2725; 1.2700; 1.2663; 1.2633

Cable stabilizes above 1.61 handle, after yesterday’s acceleration higher peaked ticks away from pivotal 1.6182, high of 21 Oct and subsequent pullback found support at 1.6126, where near-term higher **** is under formation. Bullish tone prevails on lower timeframes studies, which along with yesterday’s positive close and daily indicators heading higher, supports eventual attempt through 1.6182/1.6225 break points, to confirm resumption of short-term recovery rally from 1.5873, low of 15 Oct. Break higher to also complete inverted H&S pattern on daily chart, which is expected to trigger fresh bullish acceleration. Lows at 1.6126 offer initial support, along with psychological 1.61 support, with 1.6086/81, higher low of 28 Oct / 50% retracement of 1.5992/1.6180 upleg / daily Tenkan-sen line and daily 20SMA, should contain extended pullbacks, to keep near-term bulls in play.

Res: 1.6182; 1.6200; 1.6225; 1.6250

Sup: 1.6126; 1.6100; 1.6086; 1.6065

The pair trades in extended consolidative phase under fresh high at 108.34, where acceleration of the upleg from 106.23 was so far capped and the downside attempts being for now contained by daily Kijun-sen line at 107.60. Bulls which started to develop on a daily chart, are still lacking traction, with yesterday’s Inside Day close, seen as warning. Potential fresh upside action requires sustained break above 108.00/34 barriers, to confirm resumption of recovery rally from 105.18, as near-term technicals hold positive tone. Otherwise, downside risk will remain in play, with acceleration on a break below pivotal 107.60 consolidation floor and near Fibonacci 38.2% of 106.23/108.34, to signal lower platform formation and fresh weakness towards psychological 107 support, also Fibonacci 61.8% of 106.23/108.34 upleg.

Res: 108.21; 108.34; 108.73; 109.00

Sup: 108.00; 107.60; 107.29; 107.00

Near-term structure remains positive, as the pair rallies higher and approaches pivotal 0.89 barrier, also short-term 0.8641/0.89 consolidative range top. Yesterday’s positive close signals fresh direction after Monday’s Doji, with daily RSI turning higher and above neutrality zone, while fresh bullish momentum is building up. Daily Tenkan-sen / Kijun-sen bullish cross at 0.8780, underpins the action. Near-term studies are bullish and support further action higher, however, overextended conditions signal possible hesitation on approach to 0.89 break point. Previous barriers at 0.8822/00, also Fibonacci 38.2% and 50% retracement of 0.8717/0.8880 upleg, should contain corrective dips.

Res: 0.8880; 0.8900; 0.8950; 0.9000

Sup: 0.8847; 0.8822; 0.8800; 0.8780

The Euro slumped post-Fed, with break and close below 1.2636, bull-trendline drawn off 1.2499 low, probing below near-term **** at 1.26 zone. Yesterday’s bearish Outside Day, confirms bears are back in play, with daily close below 1.26 ****, to signal possible full retracement of 1.2499/1.2884 ascend, as fresh weakness retraced so far 76.4% of the rally. Oversold near-term studies, however, require correction, which should, in extended mode, stay under previous strong support, now resistance, at 1.2690/1.2700 zone, where Fibonacci 61.8% of descend from 1.2769 lower top lies, reinforced by daily Kijun-sen line and daily 20SMA.

Res: 1.2763; 1.2780; 1.2800; 1.2839

Sup: 1.2725; 1.2700; 1.2663; 1.2633

Yesterday’s long red candle confirms return of near-term bears back to play, as fresh acceleration lower left a double-top at 1.6180/82 and took out psychological 1.60 support and former higher low at 1.5992, on over 61.8% retracement of 1.5873/1.6182 upleg, seen so far. This sidelines near-term upside attempts, which were looking for retest of pivotal 1.6225 barrier and shifts focus back to key near-term support at 1.5873, low of 15 Oct. Oversold near-term conditions, suggest corrective action, which should be ideally capped under 1.61, Fibonacci 61.8% of entire descend from 1.6180, 28 Oct peak. Break above the latter is required to neutralize bears.

Res: 1.6015; 1.6046; 1.6071; 1.6100

Sup: 1.5962; 1.5939; 1.5900; 1.5873

The pair accelerated higher on fresh dollar’s strength, after completion of near-term consolidative phase and probes levels above psychological 109 barrier. Yesterday’s bullish close confirms daily bulls are fully in play for eventual test of key resistances at 110 zone. Corrective actions on overbought near-term studies, are expected before final push higher, with former high at 108.34, offering the first strong support, ahead of 107.60 higher ****, reinforced by daily 20SMA and daily Kijun-sen / Tenkan-sen bull cross, where extended corrective dips should be contained.

Res: 109.22; 109.50; 109.89; 110.07

Sup: 108.73; 108.34; 108.00; 107.60

The pair lost traction after yesterday’s probe above short-term range top and breakpoint at 0.89, with subsequent sharp fall, bringing the price back to the middle of 0.8641/0.8909 range. Yesterday’s bearish Outside Day could signal further weakness, which would bring range’s lower boundary in focus, in case of extension and close below 0.87 handle. Otherwise, prolonged range trading, would be likely near-term scenario.

Res: 0.8800; 0.8831; 0.8858; 0.8900

Sup: 0.8753; 0.8717; 0.8700; 0.8673

The Euro probes again below 1.25 support, Fibonacci 76.4% of 1.2042/1.3992 ascend / psychological support, which was dented last Friday, but the pair failed to sustain break closing above the level. Daily and weekly close in red confirms bearish stance, as confirmation of completion of 1.2500/1.2884, near term corrective phase, is required to resume larger bears for the final leg towards key longer-term support at 1.2042, July 2012 low. However, caution is still required and may keep bears on hold, in case of repeated bounce and close above 1.25 handle, which is signaled by daily RSI / MACD bullish divergence. Last Friday’s lower tops at 1.2542 and 1.2589, offer initial resistances, while 1.2630, 30 Oct lower top, marks a breakpoint, above which to neutralize bears.

Res: 1.2512; 1.2542; 1.2589; 1.2600

Sup: 1.2440; 1.2400; 1.2350; 1.2287

The pair dipped towards 1.59 support, break of which is required to confirm bearish breakout, paused by double Doji and failure to clear important 1.60 level, also 50% retracement of larger 1.4812/1.7189 rally. Overall picture, however, remains bearish and favors final push towards key 1.5873, 15 Oct low, but repeated failure to clear 1.60 handle, would be a good signal of bounce, which is required to clear initial barriers at 1.6037, lower top of 30 Oct and 1.6052, 50% retracement of 1.6180/1.5923 downleg, reinforced by daily Tenkan-sen line.

Res: 1.6000; 1.6037; 1.6052; 1.6082

Sup: 1.5923; 1.5900; 1.5873; 1.5850

The pair remains well supported and keeps the upside focused, as weekly gap higher open approached psychological 113 barrier. Strong bullish tone on larger timeframes, with weekly and daily close in long bullish candles, supports the notion, as the rally took out Fibonacci 76.4% of larger 124.14/75.55 descend. Sustained break above 113 barrier to open 115.92/117.95 Nov/Oct 2007 highs and in extension, 120.12, Fibonacci 61.8% of 1998/2011 147.68/75.55 descend. Previous highs and strong support at 110 zone, along with broken bear-trendline, connecting 2002/2007 peaks, should ideally contain corrective dips, which are signaled by overextended near-term studies.

Res: 113.00; 113.50; 114.00; 114.50

Sup: 112.50; 112.30; 112.00; 111.50

The pair came under pressure, after weekly opening occurred in gap-lower and triggered fresh weakness to 0.87 support zone, moving the price towards short-term range floor. Last Friday’s bearish Inside Day signaled fresh weakness, along with weekly close in long upper wick Doji candle, which signaled limited upside for now. Overall bearish tone keeps focus at the downside, along with fresh bears developing on lower timeframes studies. Final break below short-term range floor, to signal resumption of larger downtrend from 2011 peak at 1.1079 and look for test of its mid-point at 0.8543.

Res: 0.8759; 0.8800; 0.8850; 0.8900

Sup: 0.8700; 0.8673; 0.8641; 0.8600

The Euro bounces above 1.25 handle after posting fresh low at 1.2440, where temporary support was found. Overall negative tone and yesterday’s close below 1.25 level, suggest further downside after corrective action is completed, ideally under 1.2590/1.2600, 31.Oct lower top / 50% retracement of 1.2769/1.2440 downleg. On the other side, daily RSI / MACD bullish divergence signals possible stronger recovery action, which requires break above 1.2610/30 barriers, Fibonacci 38.2% of 1.2884/1.2440 descend / daily Tenkan-sen line and 30 Oct lower top, to be confirmed

Res: 1.2542; 1.2590; 1.2600; 1.2630

Sup: 1.2500; 1.2469; 1.2440; 1.2400

The pair holds in near-term sideways mode, consolidating above psychological 1.59 support, which stays intact for now. Yesterday’s long-legged Doji, the third in a row, confirms near-term indecision, as the pair is still flirting with magnetic 1.60 level, also mid-point of larger 1.4812/1.7189 rally. Further consolidation is seen likely in the near-term, with breakout to signal fresh direction. Bears remain in play on larger timeframes and require clearance of temporary support at 1.5873, 15 Oct low, to resume larger descend from 1.7189. On the other side, fresh gains and close above 1.60 level, as well as lift above near-term range tops at 1.6035 zone, reinforced by 4-hour 55SMA and daily Tenkan-sen line/505 of 1.6180/1.5923, would be initial signal of higher **** formation and stronger recovery.

Res: 1.6019; 1.6037; 1.6052; 1.6082

Sup: 1.5963; 1.5923; 1.5900; 1.5873

The pair remains well supported and extended strong rally through psychological 114 barrier, which peaked at 114.20 yesterday. Strong bullish tone of larger timeframes, keeps the upside favored, with Fibonacci 61.8% retracement of larger 147.68/75.55 descend at 120.26, coming in focus. While yesterday’s opening gap stays intact expect shallow correction before fresh push higher. Otherwise, slide below 112.30, last week’s closing level, would open way for stronger pullback, which would expose strong 110 support area.

Res: 114.00; 114.20; 114.50; 115.00

Sup: 113.26; 113.00; 112.50; 112.30

The pair remains under pressure in the near-term, following weekly gap-lower opening and fresh weakness through 0.87 support zone, which extended to test short-term range floor at 0.8641. Prevailing bearish tone favors eventual break of one-month range and extension of downmove from 0.95 zone, year-to-date high. Conversely, bounce and close above yesterday’s high at 0.8760, would avert immediate downside risk and signal prolonged sideways trade.

Res: 0.8735; 0.8760; 0.8800; 0.8850

Sup: 0.8700; 0.8672; 0.8641; 0.8600

The Euro’s extension of near-term corrective phase from fresh two-year low at 1.2440, with yesterday’s positive close, which occurred above 1.25 handle, was short-lived. The rally probed above 1.2565, 38.2% of 1.2769/1.2440 downleg, shy of the first breakpoints at 1.2600, round-figure / daily Tenkan-sen line and 1.2630, 30 Oct lower top, before pulling back. Return below 1.25 handle, neutralizes hopes of stronger rally, which was signaled by daily RSI / MACD bullish divergence and raises downside risk, which will be confirmed by sustained break and close below 1.25 level.

Res: 1.2500; 1.2529; 1.2565; 1.2576

Sup: 1.2469; 1.2440; 1.2400; 1.2350

The pair lost traction on attempt to sustain break above 1.60 handle, failing for now to capitalize on yesterday’s positive close, after repeated Dojis. Return below 1.60 level weakens near-term structure, with focus shifting towards near-term range’s floor, as overall picture remains bearish. Daily close below 1.5923, low of 03 Nov, to confirm bearish resumption towards psychological 1.59 level and key support at 1.5873, low of 15 Oct. Conversely, fresh attempts above 1.60 barrier, require break and close above 1.6052/61, daily Tenkan-sen/Kijun-sen lines, to confirm break above near-term congestion and signal stronger recovery.

Res: 1.6000; 1.6020; 1.6037; 1.6052

Sup: 1.5923; 1.5900; 1.5873; 1.5850

The pair remains well supported and establishes above 114 handle, following yesterday’s pullback from 114.20, which was contained above psychological 113 support. Fresh bulls continue to move the price higher, despite overbought conditions on all timeframes, with extension above 115 barrier, expected to further accelerate gains. The pair focuses 118.00, Fibonacci 261.8% projection, ahead of more significant 120.26, Fibonacci 61.8% retracement of larger 147.68/75.55 descend, in the near-term, as bullish acceleration on a break above long-term bear-trendline, connecting 135.16 and 124.14, 2002/ 2007 peaks, sees scope for further retracement of multi-year 147.68/75.55 descend.

Res: 115.00; 115.48; 116.00; 116.50

Sup: 114.00; 113.50; 113.20; 113.00

Near-term price action comes under pressure after upside attempts failed to extend gains and fill Monday’s opening gap, as rally stalled at week’s high at 0.8760. Return below 0.87 handle, brings downside risk towards short-term congestion lows at 0.8641 in play, for eventual break lower and resumption of larger downtrend. Overall bears favor scenario. Only return and break above session highs, would sideline immediate bears, while break and close above 0.88 barrier is required to shift near-term focus higher.

Res: 0.8700; 0.8730; 0.8760; 0.8775

Sup: 0.8676; 0.8641; 0.8600; 0.8543

The Euro enters near-term sideways mode following an upside rejection at 1.2576 and subsequent easing, which ended in yesterday’s close in red, but so far not making stronger impact on near-term price action, as fresh low at 1.2440, stays intact for now. Fresh bounce above 1.25 handle, signals that immediate downside risk is on hold. However, near-term tone remains negative, which suggests further consolidation, before fresh attempt lower, as overall picture is bearish. Daily 10EMA, which so far capped rallies, offers good resistance at 1.2571, with potential break here, expected to open breakpoints 1.2600, daily Tenkan-sen line and 1.2630, lower top of 30 Oct. Only break of the latter would neutralize risk of retesting 1.2440 and resumption of larger downtrend on a break.

Res: 1.2528; 1.2576; 1.2600; 1.2630

Sup: 1.2493; 1.2470; 1.2456; 1.2440

The pair returned to 1.60 zone, after spike lower, which cracked key 1.5873 support, proved to be false break. Yesterday’s red candle with long lower wick, signals further hesitation for sustained break below 1.5900, weekly cloud **** and 1.5873, 15 Oct low as magnetic 1.60 level continues to attract. Overall tone remains negative, with hourly studies being in neutral mode. On the upside, range tops / daily Tenkan-sen line and 50% of 1.6180/1.5867 downleg at 1.6025, offer strong resistance, with break and close above, to avert immediate downside risk, as short-term price action has established within 1.5870/1.6180 range. Otherwise, fresh attempts lower and close below 1.5867, would signal an eventual resumption of the downtrend from 1.7189, July 2014 peak, for test of 1.5750, June 2013 high and 1.5720, Fibonacci 61.8% of 1.4812/1.7189 ascend.

Res: 1.6000; 1.6025; 1.6037; 1.6052

Sup: 1.5953; 1.5923; 1.5900; 1.5867

The pair remains bullish overall, with fresh rally above psychological 115 barrier, posting new seven-year high at 115.50. Subsequent quick reversal, which found temporary footstep at 114 handle, could be seen as corrective action on strongly overbought 4-hour / daily studies. Overall bullish picture continues to focus the upside, with break above 115.50, to look for 117.95, Oct 2007 high and 120.26, Fibonacci 61.8% retracement of larger 147.68/75.55 descend, in extension. However, weakened hourly technicals cannot rule out further easing, with loss of 114 handle to signal stronger pullback towards 113.16 higher **** and Fibonacci 23.6% of 105.18/115.49 upleg.

Res: 114.83; 115.00; 115.50; 116.00

Sup: 114.00; 113.50; 113.16; 113.00

The pair eventually ended short-term consolidation, with break below the range floor at 0.8641, triggering fresh weakness through 0.8600 handle, to come ticks away from its next target at 0.8543, 50% retracement of 0.6007/1.1079 ascend. Yesterday’s close in red and below psychological 0.86 barrier, confirms negative scenario. Former range floor at 0.8641 now offers strong resistance and should ideally cap corrective rallies on oversold near-term studies. Potential break and close above here would delay bears. Key near-term barriers and breakpoints lay at 0.8760 lower platform / highs of the week and 0.8800 psychological barrier.

Res: 0.8641; 0.8673; 0.8700; 0.8730

Sup: 0.8600; 0.8551; 0.8543; 0.8500

The Euro returns to 1.25 zone, previous highs, reinforced by descending daily 10SMA, where yesterday’s rally stalled on repeated attempt higher. Sustained break and close above here is needed to confirm bulls, which are establishing on 4-hour chart, for further recovery towards next pivotal barriers at 1.2532 and 1.2576. Daily RSI/MACD bullish divergence supports the notion. Conversely, extended congestion could be expected on repeated rejection at 1.25 resistance, with 1.24 zone marking the downside breakpoint, loss of which will be bearish.

Res: 1.2500; 1.2532; 1.2565; 1.2576

Sup: 1.2452; 1.2438; 1.2411; 1.2393

Cable is gaining strength after eventual break above 1.59 handle followed yesterday’s rally from 1.5833 trough and so far reached 1.5940, Fibonacci 38.2% of 1.6180/1.5788 descend. Bullish hourly and bulls entering play on 4-hour chart, support further upside, which was signaled by yesterday’s bullish Outside Day. Also, Daily RSI/MACD bullish divergence supports further gains. Psychological 1.60 level, reinforced by daily 20SMA, offers next significant resistance, on the way to the breakpoint at 1.6020 zone, lower platform Fibonacci 61.8% retracement. Only loss of 1.5833, hourly higher ****, would neutralize bulls.

Res: 1.5953; 1.6000; 1.6020; 1.6085

Sup: 1.5900; 1.5875; 1.5833; 1.5800

The pair consolidates fresh gains which took out previous peaks at 115.50 zone and probed above psychological 116 barrier. Pullback was so far contained at 115 zone, also mid- point of 113.84/116.09 upleg, with further easing allowed to 114.70, Fibonacci 61.8%, before fresh attempt higher. Overall bullish structure favors further upside, with near-term targets laying at 117.95, Oct 2007 high and 120.12, Fibonacci 61.8% of long-term 147.68/75.55 descend. Only loss of pivotal 114 support would put bulls on hold.

Res: 116.00; 116.21; 116.62; 117.00

Sup: 115.00; 114.62; 114.25; 113.84

The pair resumes recovery off 0.8539 low after eventually taking out strong 0.8680 barrier and extending above psychological 0.87 level. Fresh bulls off 0.8589 higher low, approach 50% retracement of 0.8909/0.8539 descend and are looking for test of pivotal 0.8760 lower platform and Fibonacci 61.8% retracement, above which to confirm near-term bottom. Yesterday’s bullish Outside Day, as well as daily MACD bullish divergence, support the notion. Initial supports lay at 0.8680/65, with stronger pullback required to hold above 0.86 handle, to keep bulls in play.

Res: 0.8717; 0.8760; 0.8800; 0.8850

Sup: 0.8680; 0.8665; 0.8650; 0.8607