EUR/USD

The Euro trades in a sideways mode, consolidating recent reversal from 1.3710 that found footstep at 1.3352, the midpoint of 1.2996/1.3710 upleg. Near-term price action moves within 1.3352 and 1.3428, last Friday’s high / low, as yesterday’s recovery rally stalled at 1.3426, where 4h 20 day EMA capped. Hourly studies remain neutral, while 4h structure is still neutral and sees the downside at risk, as long as the price holds within near-term bear-channel off 1.3710. Initial barriers lie at 1.3428 and 1.3438, Fib 38.2% of 1.3710/1.3352, ahead of pivotal 1.3460 area, 05 Feb low / 50% of 1.3576/1.3352 / channel resistance, break of which to signal recovery, confirmation of which requires break above 1.3500. On the downside, slide below 1.3352 would signal bearish continuation and open psychological 1.3300 support, ahead of more significant 1.3260, higher platform / bull-trendline off 1.2660.

Res: 1.3400, 1.3428, 1.3458, 1.3500
Sup: 1.3375, 1.3352, 1.3300, 1.3265

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GBP/USD

Cable lost ground after pullback from last Friday’s high at 1.5843 accelerated and lost 1.5740/00 handles, to nearly fully retrace 1.5630/1.5843 recovery rally. This suggests that broader bearish structure, triggered by break below four-month range and multi-year bull-trendline from 2009 low at 1.3500, remains intact and keeps the downside in focus. Completion of near-term corrective phase below 1.5630, opens 1.5600, then 1.5530, Fib 76.4% of 1.5267/1.6380 ascend. Previous supports at 1.5700 and 1.5740 now act as resistances and are expected to cap for now.

Res: 1.5680, 1.5700, 1.5740, 1.5765
Sup: 1.5640, 1.5630, 1.5600, 1.5530

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USD/JPY

Bulls returned to play after recovery rally from 92.17 **** accelerated through 94.00 barrier that signals bullish continuation of larger uptrend from 77.00 zone. This brings our initial target at 94.97, May 2010 high, in near-term focus, break of which to confirm medium-term **** and signal stronger recovery of 2007/2011 downtrend. Corrective dips are seen preceding fresh rally, as the price pulls back from yesterday’s fresh high at 94.45, with 94.00 zone holding for now. Only slide below 92.00, would have the stronger impact on the near-term structure.

Res: 94.35, 94.45, 94.97, 95.72
Sup: 93.85, 93.58, 93.31, 93.00


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USD/CHF

The pair holds positive tone, as break 0.9200 barrier, 50% of 0.9387/0.9020 descend signals resumption of recovery rally from 0.9020 that paused on 0.9200/0.9150 consolidative phase. Positive near-term studies support the notion, with initial barrier at 0.9247, Fib 61.8%, seen as a trigger for extension towards psychological / Fib 76.4% resistance at 0.9300. Any slide below 0.9200, should hold above 0.9150, recent rage floor, to keep near-term bulls afloat. However, overall bearish tone persists and improvement requires regain of 0.9400 zone, previous highs / 200 day MA.

Res: 0.9247, 0.9273, 0.9300, 0.9323
Sup: 0.9200, 0.9178, 0.9150, 0.9115

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EUR/USD

The single currency regained some ground, as bounce from 1.3352 **** cracked important barrier at 1.3365, channel resistance / 50% of 1.3576/1.3352, but failed to break higher. Consolidative action is for now held by hourly 20 day EMA and above 1.3430, previous range tops that keeps immediate focus at the upside. However, hourly studies are in positive territory but lacking momentum for now, while 4h structure looks more supportive. Break above 1.3465 is seen as initial trigger for further recovery, with clearance of 1.3500 barrier, near 61.8%, required to confirm. Conversely, slide under 1.3400, would weaken the structure and re-focus 1.3352.

Res: 1.3465, 1.3477, 1.3490, 1.3500
Sup: 1.3430, 1.3400, 1.3370, 1.3352

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GBP/USD

Yesterday’s recovery rally from fresh annual low at 1.5572, retraced daily losses and returned to the opening levels, but lacked strength to clear pivotal 1.5700 barrier, also 50% of 1.5843/1.5572. Slight improvement on hourly studies is insufficient for stronger recovery for now, as 4h structure remains negative, along with overall bearish picture that describes the latest rally as corrective and preceding fresh weakness. Slide below 1.5600/1.5572 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 and 1.5500 next. Only clear break above 1.5700, would delay immediate bears for 1.5740/1.5780, while more significant improvement requires regain of 1.5843/77 peaks.

Res: 1.5675, 1.5688, 1.5700, 1.5740
Sup: 1.5645, 1.5600, 1.5572, 1.5545


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USD/JPY

Sharp reversal from yesterday’s high at 94.40 dipped below important 93.00, Fib 61.8% of 92.17/94.45 and weakened near-term structure. Dips were so far contained by 55 day EMA at 92.80, with quick reversal above 93.00, keeping the bullish stance. However, failure to regain 93.60, yesterday’s intraday high and 50% of 94.40/92.80 slide, would risk fresh weakness that may focus key near-term support at 92.00, loss of which would be bearish. From the other side, lift above 93.60 and regain of 94.40, to bring bulls fully in play for possible retest of strong 94.45/40 barrier.

Res: 93.44, 93.60, 93.85, 94.00
Sup: 93.00, 92.80, 92.44, 92.17

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USD/CHF

The pair lost traction, after failure to clear 0.9200 breakpoint, as gains stalled at 0.9213, capped by daily Ichimoku cloud ****. Subsequent reversal returned to near-term range floor at 0.9150 that so far contained dip, along with 55 day EMA. Negative hourly structure keeps the downside at risk, with 4h chart indicators losing momentum. Loss of 0.9150/40, recent range floor and Fib 38.2% of 0.9020/0.9213 would revive near-term bears for test of 0.9100, while lift above 0.9200, requires regain of 0.9247, 50% of 0.9387/0.9020, to improve.

Res: 0.9180, 0.9200, 0.9213, 0.9247
Sup: 0.9150, 0.9115, 0.9100, 0.9065

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EUR/USD

The Euro came under increased pressure after yesterday’s upside rejection at 1.3518, accelerating loses through 1.3428, previous highs and broken channel line and psychological 1.3400 support. With over 76.4% of 1.3352/1.3518 ascend being reversed so far, immediate focus shifts towards near-term **** at 1.3352, also 50% of larger 1.2996/1.3710 upleg, below which to signal resumption of downtrend from 1.3710, towards 1.3300 and 1.3265/70 higher platform / bull-trendline off 1.2660. Negative near-term studies support the notion. Corrective rallies would face good barriers at 1.3428 and 1.3460 zone and only break here would turn focus higher.

Res: 1.3400, 1.3428, 1.3465, 1.3477
Sup: 1.3370, 1.3352, 1.3300, 1.3270

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GBP/USD

Cable continues to move south, approaching our next target at 1.5500. Strong bearish tone in short-term studies suggests that further extension lower is likely, as clearance of psychological 1.5500 support is expected to open 1.5489/57, Aug 2012 lows initially, with key med-term supports at 1.5267 and 1.5233, Jan / June 2012, coming in near-term focus. Possible hesitation at 1.5500 handle would be expected on oversold 1/4h conditions, with corrective rallies seen limited at 1.5630 zone.


Res: 1.5571, 1.5584, 1.5600, 1.5630
Sup: 1.5500, 1.5489, 1.5457, 1.5392

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USD/JPY

Near-term price action moves in a sideways mode, with 93.00 zone protecting the downside and keeping slightly positive tone in play. Regain of initial barrier and range top at 93.76, as well as 94.00, previous high, is required confirm bullish structure and confirm higher low at 92.81, for attempt at recent peaks at 94.40/45. Conversely, slide below 93.00/92.80, would weaken near-term structure and shift focus towards key near-term support at 92.00.

Res: 93.76, 93.90, 94.00, 94.40
Sup: 93.12, 93.00, 92.80, 92.44

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USD/CHF

No significant changes seen in past sessions, as the price action was entrenched between 0.9150 and 0.9213 range. Near-term tone is slightly aligned towards the upside, following attempts at range tops, however, sustained break above 0.9200 and regain of Fibonacci barrier at 0.9247, is required to confirm bullish resumption and open way for fresh extension towards 0.9300. On the downside, range floor at 0.9150 guards 0.9100.

Res: 0.9218, 0.9247, 0.9300, 0.9323
Sup: 0.9165, 0.9150, 0.9115, 0.9100

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The Euro held within tight range during the Asian session, holding below 1.3100 barrier, despite 30-pips gap higher weekly opening. Bounce of recent range bottom at 1.3000 was rejected at 1.3125, Fib 61.8% of 1.3200/1.3000 descend, with Friday’s fall and close below 1.3100, keeping the downside vulnerable. Near-term studies are negatively aligned, as the price was unable to clear 20 day EMA. Immediate support lays at 1.3045, Fri/Thu lows and break lower to re-focus psychological 1.3000, key near-term support. Formation of diamond pattern on a daily chart, signals reversal that requires break below 1.3000 and 1.2972, 50% retracement of 1.2744/1.3200 ascend, to be confirmed. Any bounce through 1.3100/25, would improve near-term structure, however, clearance of 1.3200 would bring bulls fully in play.

Cable ended the week under heavy pressure, with negative fundamentals triggering sharp fall. Losses extended overnight and tested near-term **** at 1.5200 zone, signaling further weakness. Immediate target and strong support lays at 1.5175, Fib 61.8% of 1.5032/1.5410 rally / daily Ichimoku cloud ****, with negative tone on the lower timeframes and double-top left at 1.5380, last week’s highs, supporting the notion. Bearish 20/55 day EMA’s crossover at 1.5280 zone, keeps the upside limited for now

The pair flirts with psychological 100.00 barrier again, as strong bounce of last week’s correction low at 95.80, extended close to 100.00. The barrier is strong, as previous attempt here failed and overbought hourly studies suggest hesitation. Indicators on 4h chart, however, see room for test and break above 100.00 barrier, to open next significant barrier at 101.43, Apr 2009 high. Corrective dips should be contained by 99.00/98.50 support zone, to keep near-term bulls intact.

The pair remains under pressure at the beginning of the weeks, continuing broader weakness, sparked on upside rejection at 1.0581 on 11 Apr. Marginally fresh low at 1.0265 was posted overnight, with near-term bears being firmly in play and price being limited by descending 20 day EMA. As daily studies broke in the negative territory, further weakness towards 1.0224/00, Fib 76.4% of 1.0114/1.0581 / round figure support, could be anticipated. Any corrective action faces solid resistance at 1.0357, last Friday’s high, while penetration through 1.0400 barrier, is requires to ease immediate bear-pressure.

The Euro holds above 1.3000 but still directionless, moving within 1.2950/1.3100 range. Slight improvements seen on overnight’s gap-higher opening and upside aligned hourly studies, keep the immediate barrier at 1.3100 in near-term focus. Break above 1.3100, also 4h triangle resistance, would avert the downside risk, in favor of extension towards next barrier at 1.3127, 19 Apr high, to confirm near-term **** at 1.2950 and possibly re-open key 1.3200 resistance. Psychological 1.3000 support keeps the near-term price action supported for now, with any penetration lower, to weaken the structure.

Cable maintains positive tone, as fresh gains through psychological 1.5500 barrier that kept last week’s rally capped, now open way for fresh bulls. Immediate barrier lies at 1.5570, 100 day MA, ahead of 1.5605, 50% retracement of 1.6380/1.4830 downleg. Short-term studies remain positive but overbought that may signal hesitation on approach to the next targets. Previous peak and last Friday’s low at 1.5410/17 zone, offer solid support and should contain corrective dips.

The pair remains under pressure, as last Friday’s fresh weakness and weekly close below 98.00 handle and overnight’s extension to 97.34, Fib 61.8% of 95.80/99.87 upleg, confirm near-term bears being in play. Corrective rally on oversold hourlies, faces initial resistance s at 98.00/30, with previous low and 50% retracement of 99.74/97.35 at 98.50, reinforced by 20/55 day EMA’s, bearish crossover seen as ideal cap. With near-term structure being negatively aligned, further downside is seen favored after the correction, with 97.20/00 seen as next targets. Conversely, extension above 98.50 would ease bear-pressure, however, regain of 99.00 barrier is required to shift focus higher and re-expose recent highs and psychological 100 barrier.
Res: 98.00, 98.30, 98.50, 98.82

The pair regained positive tone after upside rejection at 1.0335 and subsequent pullback found support at 1.0260. Fresh strength that surged through 1.0300 barrier overnight and approach of 1.0335/38 double-top, sees scope for extension of near-term recovery rally from 1.0220 low, with clear break above 1.0338 required to confirm and open immediate targets at 1.0357, 19 Apr high / Fib 38.2% of 1.0581/1.0220 fall and 1.0400, 14 Apr high / 50% retracement. Hourly structure remains positive, while 4h indicators are breaking above their midlines.

The Euro extended recovery rally to briefly break above 1.3100 handle, however, gains were limited, as the price action was capped at 1.3115, failing to clear the barrier on repeated attempt. Pullback under 1.3100, could be seen as corrective, while price holds above 1.3050 zone, 50% of 1.2989/1.3115 upleg / 20 day EMA, as 4h indicators maintain positive tone, with higher low seen as good **** for possible fresh attempt above 1.3100/15, to possibly open key 1.3200 barrier. From the other side, slide below 1.3050, would risk return to 1.3000 **** and keep the near-term range top intact.

Cable enters corrective mode, following yesterday’s rally through 1.5500 barrier that reached 1.5544 high so far. Daily close slightly below 1.5500 and fresh extension lower that tests 55 day EMA, risks deeper pullback, as hourly studies moved into negative territory. Further easing would face Fibonacci supports at 1.5444 (38.2%) and more significant 1.5410, 50% retracement of 1.5281/1.5544 rally and previous peak, loss of which to sideline near-term bulls. Studies on 4h chart are emerging from overbought zone and keep the price pressured.

Near-term structure remains negative, as recovery rally from 97.34, yesterday’s low, remains capped at Fib 38.2% of 99.49/97.34 fall at 98.19. Hourly studies are weak, with more negative tone seen on 4h chart, where indicators hold in the negative territory and price pressured by 20/55 EMA’s bearish crossover, that keeps the downside favored. Slide below 97.35, also Fib 61.8% of 95.80/99.87 recovery and 97.20, 17 Apr low, to open way for further extension lower, where 96.75, 76.4% / previous peak of 12 Mar, is seen as next target and breakpoint. Risk of triple top completion is still high and loss of 96.70 is to confirm.
Res: 98.11, 98.19, 98.41, 98.70

The pair holds positive near-term tone off 1.0220 low, as fresh gains through 1.0335/38 resistance, cracked the next barrier at 1.0357, Fib 38.2% / daily Ichimoku cloud top and see potential for extension higher. Key near-term resistance at 1.0400, 14 Apr high / 50% retracement of 1.0581/1.0220, comes in focus, as break here is required to confirm **** at 1.0220 and resume recovery. Previous barriers at 1.0335/38, now offer initial support, with dips to be ideally contained at 1.0320 zone, to keep bulls intact.

The Euro failed to sustain gains on yesterday’s rally through key 1.3200 barrier, as the price reversed lower after posting fresh high at 1.3240. Gains were capped by 50% retracement of larger 1.3710/1.2744 descend, with reversal below 1.3200 handle, softening near-term structure. The pullback found temporary support at 1.3150, 50% of 1.3053/1.3241 upleg and above trendline support / 61.8% / 20 day EMA at 1.3125. While above the latter, scope exists for fresh attempt at 1.3200, initial resistance and extension higher, as 4h structure is positive and favors further bulls, as a part of larger recovery from 1.2950. Conversely, loss of 1.3125 and psychological 1.3100, also 50% of 1.2950/1.3241, would signal top at 1.3241 and bring bears back to play.

Cable consolidates yesterday’s rally that dented initial target at 1.5605, 50% retracement of 1.6380/1.4830, with pullback being contained by 55 day EMA at 1.5540, for now. Positive structure on lower timeframes keeps the upside in focus, as clearance of 1.5605 is seen as a trigger for fresh extension of recovery rally from 1.4830. Any deeper pullbacks should be held above 1.5400 zone, to avert downside risk.

USD/JPY The pair holds above freshly established **** at 97.00, but downside pressure persists, as recovery attempts stay capped under initial 98.00 barrier and lower timeframes indicators hold in the negative territory. With descending 55 day EMA maintaining slide, immediate focus lays at 97.00, loss of which to resume larger downtrend from levels just under 100.00 barrier and expose breakpoint at 96.70, Fib76.4% of 95.80/99.87 ascend / 12 Mar previous high. Alternatively, confirmation of near-term **** at 97.00, requires clearance of 55 day EMA at 97.45 and more significant 98.00/25 resistance zone, 30/29 Apr highs / 50% retracement of 99.87/97.00 downleg.

Aussie dollar lost ground after upside rejection just under key 1.0400 barrier, as subsequent sharp reversal fully retraced 1.0220/1.0383, near-term recovery rally. With bears now full in play, penetration through psychological 1.0200 support, is expected to open way towards 1.0114, 04 Mar low, multi-month range floor and near 50% of med-term 0.9579/1.0623 ascend. Previous higher **** at 1.0260, now offers initial resistance, with any further extension higher, seen limited under 1.0300 for now.

The Euro remains in the range-trading mode, with slight improvement seen on a break above 1.3100 barrier, as near-term **** has been established at 1.3060 zone. Hourly and 4h structure remains weak, however, fresh strength threatens break through 4h triangle resistance at 1.3120, along with recent highs at 1.3130 zone, also 50% of 1.3241/1.3032 that is required to further improve near-term tone for possible extension towards the range tops. Conversely, slide below 1.3100., would shift the focus lower and expose 1.3060/30, strong support zone.

Cable trades in a near-term corrective mode, following yesterday’s sharp fall that found temporary support at 1.5445/1.5603 upleg. As lower timeframes studies weakened and indicators slid into negative territory, downside risk towards pivotal 1.5410/00 support zone, remains in play. Recovery attempts face good barrier at 1.5500, while only break above 1.5500, yesterday’s high, would ease immediate bear pressure.

USD/JPYThe pair remains at the back foot, following upside rejection at 99.44 on Monday and series of lower tops, defining near-term descend. With 99.00 barrier capping the upside and yesterday’s low at 98.63, coming under pressure, more risk is seen towards the downside in the near-term. However, break below 98.50, Fib 38.2% of 97.00/99.44 upleg and 55 day EMA, is required to confirm reversal and signal lower top at 99.44. Alternative scenario requires break above 99.34/44 highs to shift focus towards initial target and psychological barrier at 100.00.

The pair trades in a near-term recovery mode, off fresh lows posted at 1.0154, where basing attempt becomes evident. Yesterday’s loss of strong 1.0220 support and near-term ****, as well as psychological 1.0200 handle, keeps bears in play for eventual push towards key support and larger range bottom at 1.0114. Recovery rally needs to clear 1.0200/20, previous strong support, also Fib 38.2% of 1.0321/1.0154 descend, to ease immediate bear-pressure and allow for further recovery, however, overall bearish tone sees the action limited and keeps the downside in focus.

The Euro holds positive near-term tone after yesterday’s rally above hourly triangle resistance that peaked at 1.3192. Corrective easing has so far been contained by 20 day EMA at 1.3150 zone, near Fib 38.2% of 1.3070/1.3192 upleg. Indicators on 1 and 4h charts are in the positive territory that keep the upper boundary of near-term range at 1.3241 in focus, with initial barrier standing at 1.3200. On the downside, below 1.3150, next solid support lays at 1.3030, 50% retracement / previous high of 07 May and reinforced by 55 day EMA. Potential break here to weaken near-term structure

Cable remains steady, following yesterday’s test of levels near 1.5600 tops and subsequent pullback that found support at 1.5530, Fib 38.2% of 1.5445/1.5590 rally. Hourly indicators are reversing higher and holding above the midlines, with bullish 20/55 EMA’s crossover at 1.5520, also 50% retracement, underpinning the action. On the other side, 4h indicators are struggling at their midlines that would keep the downside risk in play, as long as 1.5600 barrier stays intact. Break here to resume short-term rally from 1.4830 and open next target at 1.5630.

USD/JPYThe pair remains in descending mode, following upside rejection at 99.44 on Monday and series of lower tops, confirming near-term downtrend that reached the lowest so far at 98.57, low of yesterday. While 99.00 barrier caps, the downside risk will persist, as hourly studies are negative and 4h indicators running out of steam. Break below 98.50, Fib 38.2% of 97.00/99.44 upleg and 55 day EMA, is required to confirm reversal and signal lower top at 99.44. Conversely, lift above 99.00 would avert immediate downside risk, however clearance of 99.34/44 highs is required to shift focus towards initial target and psychological barrier at 100.00.

The pair got boosted by fundamentals and rallied from the near-term **** at 1.0150 zone, with break above strong 1.0200/20 barriers reducing bear pressure, as gains reached 1.0250, Fib 61.8% of 1.0321/1.0154 downleg. With hourly studies turning bullish, situation on 4h chart is still fragile, as indicators hold in the negative territory. Break above trendline resistance at 1.0290 and psychological 1.0300 barrier would provide relief and avert scenario of slide below 1.0150 and test of multi-month range floor at 1.0114, 04 Mar low.

The Euro traded in consolidative mode during the Asian session, moving within narrow range and above last Friday’s fresh low at 1.2934 that marks Fib 61.8% of 1.2744/1.3241 recovery rally. The downside pressure persists, as the pair dented 200 day MA and near-term range floor at 1.2950, with weekly close above these supports, but below psychological 1.3000 barrier. Corrective rally above the later, may extend towards strong resistance at 1.2950/60 zone, last Friday’s high / 50% of 1.3193/1.2934 downleg, where rally should be capped. However, sustained break here, would sideline immediate bears and allow for stronger recovery. As near-term indicators hold in the negative territory, fresh weakness is still seen as likely scenario, with violation of 1.2950/34 supports, expected to open 1.2915, daily Ichimoku cloud bottom and psychological 1.2900 support.

Cable extended weakness off 1.5600 barrier and retraced 38.2% of larger 1.4830/1.5603 rally, on last Friday’s fall to 1.5313. Corrective rally on oversold near-term studies, would be short-lived and likely precede fresh weakness, as long as previous breakpoint at 1.5410 and Friday’s high / 50% of 1.5586/1.5313 fall limits the upside. The notion is supported by negative near-term technicals and double-top at 1.5590, as well as brief break below main bull trendline, drawn off 1.4830, 13 Mar low. However, further weakness below 1.5300 handle, needs to break key near-term support at 1.5200, to confirm top at 1.5600 area and signal end of two-months corrective rally.

The pair continue to trend higher, with last Friday’s and overnight probe above psychological 102.00 barrier, suggesting further bullish extension towards 103.00, next target, however, fresh bull-leg above psychological 100.00 barrier, could travel to 105.00. Corrective pullbacks are expected to be limited and any stronger reversal should be contained above 100.00 support. Initial supports lie at 101.00 and 101.80, Fib 38.2% of 98.63/102.14 upleg / 55 day EMA.
Res: 102.00, 102.14, 102.50, 103.00

Last Friday’s extension of larger downtrend and break below parity level, keeps the bears in play and sees scope for further extension, as the pair lost significant support at 1.0114, multi-month range floor. Dips were so far contained at 0.9960, above which, near-term consolidation is under way. With the upside, for now being capped by psychological 1.0000 barrier and 20 day EMA, recovery action should be limited, despite overextended near-term studies. Any stronger bounce, however, would require clearance of strong 1.0220/50 zone, to ease immediate bear pressure, otherwise, fresh weakness towards 0.9900, would be likely scenario.

The remains in near-term consolidative mode, as 1.2934 proved to be solid support after being retested and holding for now, with brief attempt above 1.3000 barrier, signaling possible corrective action. Improved hourly studies support the notion, however, sustained break above 1.3000 and regain of minimum 1.3050/60 is required to confirm **** and trigger fresh recovery. Otherwise, further weakness would be likely scenario, as 4h indicators hold in the negative territory and price action being capped by descending 20 day EMA.

Cable bounces off yesterday’s fresh low at 1.5276, following bearish extension below psychological 1.5300 support. Prevailing negative tone on lower timeframes studies, keeps the downside focused, with corrective rallies seen limited, while below 1.5383/1.5410 barriers. Overall negative tone and break below main bull-trendline, sees increased risk of fresh weakness towards pivotal 1.5200 support zone, 50% of 1.4830/1.5603 / April’s higher platform.

Near-term focus is starting to shift towards the downside and open way for corrective pullback, as the pair holds below 102.00 barrier. Loss of initial support at 101.50, increases downside risk, as hourly studies slide into negative territory and yesterday’s Doji candle signaling near-term indecision. However, confirmation would require break below 101.00 handle to open Fibonacci supports at 100.80/38. Strong support and breakpoint at 100.00 is expected to hold dips, as larger picture bulls remain fully in play, with current reversal seen as corrective and preceding fresh rally.

The pair consolidates recent losses that bottomed at 0.9939, after the parity level has been lost and now acting as initial resistance, reinforced by hourly 55 day EMA. Possible stronger correction cannot be ruled out, as 4h conditions are oversold and hourly indicators are heading north. However, signal of basing attempt would require regain of initial 1.0030/45 barriers, while regain of 1.0100, 50% of 1.0253/0.9939 fall, would confirm recovery. Overall picture remains bearish, as the pair commenced fresh bear-phase, following break below multi-month range floor.

The Euro remains under pressure after yesterday’s upside rejection at 1.3025, where a double-top was left, ahead of fresh weakness. The price violated psychological 1.2900 support, on today’s acceleration lower that suggests further descend, as 50% of 1.2744/1.3241 upleg has been broken and near-term studies hold negative tone. Loss of 1.2900 handle to expose next targets at 1.2861, Fib 76.4% and 1.2800, round figure support. However, bears may be interrupted by corrective action on oversold near-term studies, with previous strong supports at 1.2934/53, now offering initial resistance, ahead of 1.3000, below which rallies should be ideally contained. Only lift above 1.3025 would signal a pause in near-term downtrend and allow for stronger counce.

Near-term bears are fully in play, as the price extended descend from 1.5590 double-top, to crack significant support zone and breakpoint at 1.5217/1.5195, 50% of 1.4830/1.5603 / April’s higher platform. The support proves to be strong, as the price bounced, after hitting fresh low at 1.5190. Dominating negative tone on near-term studies does not see much of upside potential for now, with any stronger rally, expected to hold below 1.5300 barrier. Bearish continuation below 1.5190 to confirm top at 1.56 zone and confirm end of 1.4830/1.5603 corrective phase, with 1.5125/00, seen as next downside targets.

The pair rallies again, after corrective pullback from 102.14 found footstep at 101.25. Break above initial 102.00/14 barriers, signals bullish resumption of fresh upleg from 98.63 that opens way towards next target at 103.00. Positive near-term studies remain supportive, with initial supports standing at 102.14/00, previous barriers and 101.25, keeping the downside protected.

The pair remains in a steep downtrend that accelerated after losing 1.0114, multi-month range floor. Break below parity level, as psychological support and the next one at 0.9900, keeps the way open towards 0.9579, May 2012 low, with interim supports at 0.9825/00 and 0.9660. However, corrective action may preced fresh weakness, but rallies are for now seen limited, with initial barriers at 0.9914/40 and parity level expected to cap.

The single currency remains under pressure, as last Friday’s fall dipped briefly below 1.2800 handle. Subsequent bounce still stays capped at initial 1.2850 barrier, previous lower **** and 55 day EMA. With hourly studies heading higher and 4h studies being overextended, further recovery is possible, however, clearance of 1.2900 zone, 50% of 1.3027/1.2795 fall, is seen as minimum requirement to signal near-term basing attempt and allow for stronger recovery, where next barriers at 1.2950 zone will come in focus. Overall negative tone doesn’t see much of upside prospect in the near-term, as daily studies turned bearish and while price holds below 1.2950/1.3000, previous range floor / 200 day MA.

Cable consolidates recent losses that dipped to 1.5157 so far, with 1.5200 limiting the upside for now. Fresh bear-leg that commenced on upside rejection at 1.5321, could extend to 1.5125, Fib 61.8% of 1.4830/1.5603 upleg and 1.5100, round figure support, initial targets, as pivotal 1.5200 support has been lost and near-term top at 1.5600 zone confirmed. Negative near-term studies keep the downside favored, with limited corrective actions expected to stay under 1.5300 barrier.

Overall bullish structure remains intact for now, despite overnight’s gap-lower opening and spike low near 102.00 support. Bounce back towards 103.00 barrier, kept positive near-term structure, however, failure to fill the gap, would keep the downside at risk, with good support laying at 102.50, Fib 38.2% of 101.25/103.28 upleg / 55 day EMA, loss of which to confirm further corrective action. Conversely, break above 103.00 barrier, would focus last Friday’s fresh high at 103.28 and signal resumption of broader uptrend.

The Aussie starts the week with slight positive tone and bounces off last Friday’s fresh low at 0.9709. recovery was so far limited under the next barrier at 0.9800, reinforced by descending 55day EMA that keeps upside prospects under question mark. Overall bearish tone still keeps the downside in focus, with key target at 0.9579, May 2012 low, however, bears may be interrupted by corrective action, as hourly indicators are heading north and 4h / daily studies are oversold. Such scenario requires break above initial 0.9800 barrier and regain of the next one at 0.9900, to confirm near-term recovery under way and avert immediate downside risk.

The Euro bounced off yesterday’s fresh low at 1.2795 and regained psychological 1.2900 barrier, sidelining immediate downside risk. This would open way for stronger corrective action, as near-term structure turned positive, with clearance of 1.2911, Fib 50% of 1.3027/1.2795 descend, seen as confirmation. Fresh extension higher would face 1.2930/50 as initial barriers, with key near-term resistance and breakpoint, standing at 1.3000/25 zone. As the price action stabilized within 1.2900/1.2860 range, the latter acts as initial support, along with 1.2850, 50% of 1.2795/1.2903 upleg, where corrective dips should be ideally contained.

Recovery rally from 1.5157, last Friday’s low, accelerated after breaking above 1.5200 barrier and extended to 1.5280 so far, near Fib 76.4% of 1.5321/1.5157 fall. Hourly studies are positive, however, the freshly established bulls will remain fragile, as long as 1.5300, 55 day EMA and key near-term barrier at 1.5321, 16 May high / Fib 38.2% of 1.5586/1.5157, stay intact. Break here, however, to confirm near-term **** and allow for extension of recovery phase that would eye next targets at 1.5372, 50% retracement and 1.5400, psychological barrier. To keep bulls in play, corrective dips should be contained at 1.5200 support zone.

The pair trades in a near-term corrective mode, as yesterday’s weakness off fresh high at 103.29, extended to important 102.00 zone, where temporary support has been found. Quick recovery shows regain of momentum, as hourly indicators are heading higher, however, break above 102.75/103.00, previous high / round figure resistance, is required to signal an end of corrective phase and shift focus higher. Current movements could be described as consolidative, while 102.00 and 101.80, 4h range floor, hold the downside, as daily chart bulls remain firmly in play.

The pair trades in a near-term recovery mode, as fresh strength that emerged from 0.9709 low, regained psychological 0.9800 barrier and so far retraced over 61.8% of 0.9912/0.9709 downleg. Hourly studies are positive and favor further upside, with regain of important 0.9920 resistance zone, 15 May high / Fib 38.2% of 1.0253/0.9709 / 55 day EMA, required to confirm near-term **** and allow for stronger correction. From the other side, 4h indicators, emerging out of oversold zone and overextended daily conditions, are seen supportive for further recovery. Initial support lays at 0.9750 and should holds dips, to keep fresh bulls afloat.

The Euro maintains positive near-term tone and holds above 1.2900 support, following overnight’s extension to 1.2937, where rally was capped by 55 day EMA. The level lays just ahead of 1.2950, previous range floor and Fib 38.2% of 1.3193/1.2795 descend, break of which to confirm near-term **** and open more significant barriers at 1.3000, 50% retracement and 1.3027, 14 May high. Corrective actions should be ideally contained at 1.2880/70 zone, Fib 38.2% / 50% of the near-term ascend from 1.2795 and hourly 55 day EMA, to keep bullish structure intact.

Cable slumped to the fresh lows near 1.5100 yesterday, after upside rejection at 1.5280, where lower top was left. Bears are back in play, as the pair ended corrective action and near-term focus lays at psychological 1.5100 support, blow which, fresh resumption of the pullback from 1.5600 area, would look for test of 1.5020/00 zone. Quick corrective rally stays so far capped under important 1.5200 resistance that keeps the downside pressured, with near-term indicators holding in the negative territory.

The pair holds neutral near-term tone and moves in a directionless mode, with 102.24/87 marking near-term range limits. As the pullback from fresh high at 103.29, has been contained at 102.00, the latter offers solid support for fresh attempt higher. Studies of 4h chart remain positive, while overall bullish tone keeps the upside favored. Clearance of 103.29 to resume the broader uptrend that could travel up to 105.00 barrier. Only loss of 102.00 and 101.80, near-term range floor, would delay and allow for stronger correction.

Aussie dollar has regained some ground after finding temporary support at 0.9709, with subsequent rally being limited at 0.9840 for now. Repeated failures at 0.9840, keep the upside attempts limited, with near-term price action moving in a sideways mode, within 0.9750/0.9840 range. Hourly studies are neutral, while negative tone prevails on 4h chart that sees the current corrective action limited. Potential break above 0.9840, would look for test of strong 0.9900 zone, to signal further recovery, while more likely scenario, sees loss of 0.9750 platform and return to initial support at 0.9700.

The Euro maintains positive near-term tone while holding above 1.2900 higher platform, where 55 day EMA keeps the downside protected in the near-term. With 4h indicators being in the positive territory, scope exists for possible fresh attempt at strong barrier and near-term tops at 1.3000 zone, break of which to resume near-term recovery off 1.2795, 17 May low. From the other side, hourly studies are losing traction, with negative daily structure, being pressured by 20/200 MA death cross, downside remains at risk. Break below 1.2900 to confirm and expose lower boundaries of near-term 1.2800/1.3000 range.

Near-term picture remains positive, as the pair trades in a corrective mode off 1.5012, 23 May low, with price consolidating under 1.5145, 50% retracement of 1.5279/1.5012 fall. Price action is underpinned by hourly 20/55 day EMA’s bullish crossover at 1.5100, however, break above congestion at 1.5145, is required resume recovery and avert the downside risk, as 4h indicators still hold below their midlines and larger picture shows bears fully in play. Break below 1.5100 handle would re-expose psychological 1.5000 support. On the upside, key resistances lay at 1.5279 and 1.5321, regain of which is required to shift short-term focus higher.

The pair came under increased pressure on Friday, when recovery rally failed at 102.57 and subsequent weakness slid below 101.00 handle. The price posted fresh low at 100.65, with negative near-term studies, keeping the downside favored and eyeing psychological 100.00 support. Bearish 20/55 day EMA’s crossover at 101.80, maintains pressure, while only break above Friday’s high at 102.57, would provide near-term relief.

The pair extended weakness from last Thursday’s recovery failure at 0.9777 and approached psychological 0.9600 support that has already been dented on last week’s break to 0.9592. Negative tone dominates on near-term studies and keeps downside focused, as a part of broader downtrend, interrupted by minor correction so far. Main short-term target lays at 0.9579, May 2012 low, with further bearish extension not ruled out, as the pair’s price action was in red for past three weeks. Corrective rallies would face initial resistances at 0.9750/77, while only break above 0.9840, would ease bear pressure and open way for stronger correction.

The Euro regained 1.3030 level during the Asian session, following weekly close below 200day MA and psychological 1.3000 support. Hourly indicators moved above the midlines, with positive 4h structure being supportive for further gains. Clearance of last Friday’s high at 1.3060, is required confirm higher low at 1.2943 and resume recovery rally off 1.2800 **** towards 1.3100, round figure resistance. Initial support lies at 1.3000, ahead of 1.2943, Friday’s low, being reinforced by 55 day EMA.

Cable extends overnight’s gains and breaks above last Friday’s high at 1.5238, keeping the near-term positive structure off 1.5000 ****. Scope is seen for further recovery, as 4h studies maintain positive tone and 20/55 day EMA’s bullish crossover underpins. Immediate targets lay at 1.5280/1.5300, with the latter being 50% of 1.5603/1.5007 downleg, break of which to confirm **** at 1.5000. Solid support lies at 1.5150/00 zone, reinforced by 20/55 day EMA’s crossover and should contain any stronger pullback.

The pair under pressure, following weekly close just above fresh low at 100.20 and overnight’s action being capped at 100.70. With near-term studies holding in the negative territory, immediate risk is seen on a break below 100.20, to open psychological 100.00 support and pivotal zone for retest, as break here is seen as a trigger for further easing and extension of corrective pullback from 103.72 high. Asian high at 100.70 offers initial resistance, ahead of 101.00, round figure / 20 day EMA.

The pair regained some ground on a bounce from last Friday’s low at 0.9548, as Asian session opened with gap higher and price bounced above 0.9600 barrier. However, overall negative tone keeps the downside risk in play, as the price holds within near-term consolidative range of 0.9527/0.9695 . While the latter barrier, reinforced by descending 55 day EMA, stays intact, no significant prospect for stronger recovery would be seen in the near-term, with violation of 0.9527, would trigger fresh weakness and expose psychological 0.9500 support for test.

The Euro holds positive near-term tone, following yesterday’s rally that probed levels above 1.3100 barrier. Corrective easing on overbought hourlies, was so far contained by 20 day EMA and the previous top at 1.3050, however, south-heading hourly indicators do not rule out further easing, with next good support standing at 1.3000, Fib 38.2% of 1.2837/1.3106 upleg / round figure. Studies on 4h chart hold firm tone and keep the upside favored for now, with clearance of 1.3100, also daily Ichimoku cloud top, expected to open way towards 1.3200 zone, with interim barrier at 1.3136, Fib 76.4%.

Cable extended recovery phase from 1.5000 double-bottom on yesterday’s rally and so far reached 1.5375, Fib 61.8% of 1.5603/1.5007 descend. Bulls continue to dominate on near-term studies and see potential for further recovery through psychological l.5400 barrier, however, corrective pullback is likely going to precede fresh gains, as near-term technicals are overbought. Initial support at 1.5300 was tested so far, with extension towards 1.5230, previous high / Fib 38.2% of 1.5007/1.5375 rally, seen not harmful for near-term bulls, in case dips will find support at this area. Otherwise, break lower and potential loss of 1.5200, 50% level, would put near-term bulls on hold.

The pair trades in a recovery mode, following yesterday’s acceleration lower after psychological 100.00 support has been taken out. Fresh weakness extended below 99.00 figure and posted fresh low at 98.85, where fresh strength emerged. Current rally that regained levels above 100.00 barrier, would be seen as corrective, as long as previous **** and 50% retracement of 102.51/98.85 fall at 100.70 caps. Violation of the latter, would be initial signal of stronger recovery. Otherwise, upside rejection below 100.700 would risk lower top and fresh extension of near-term bears off 103.72, 22 May peak.

The Aussie dollar eases from yesterday’s fresh high at 0.9790, posted on a strong rally that cleared initial barrier and near-term congestion top at 0.9700 zone. The pullback so far tested this support that should ideally contain and keep fresh bulls in play for possible stronger recovery. However, hourly studies are still in descending mode and further easing cannot be ruled out, with loss of 0.9669, 50% retracement of 0.9548/0.9790 upleg, seen as bearish trigger. Otherwise, the upside would remain in play, as 4h studies maintain positive tone.

The Euro picks up the pace at the beginning of European session and breaks above two-day congestion under 1.3100 barrier. Prevailing positive tone keeps the upside potential for full retracement of 1.3241/1.2795 descend in play, with interim barriers standing at 1.3136, Fib 76.4% retracement and psychological 1.3200, near 08 May high. Previous top at 1.3075, reinforced by hourly 20 day EMA, offers immediate support, ahead of psychological 1.3000, also 55 day EMA, where any dips should be ideally contained.

Cable continues to trend higher, as the latest upleg from 1.5270 higher low, cleared 1.5375/1.5400 hurdles and heads north. Immediate target lies at 1.5462, Fib 76.4% of 1.5603/1.5007 descend and is the lat barrier on the way towards 1.5600 zone, key near-term barrier and beginning of May highs. Near-term studies hold positive tone, however, overbought 1 and 4h reading may delay bulls in favor of corrective pullback. Previous barriers at 1.5400/1.5375, now offer initial supports.

The pair fully retraced near-term corrective phase from 98.85 that was capped at 100.40. Renewed weakness below 100.00 psychological support, sees increased downside risk for further extension of pullback from 103.72 high, with Fib 50% of 92.56/103.72 at 98.14, and psychological 98.00 support, seen on a break below 98.85 low. Consolidative phase is under way, with rallies expected to hold below 100.00 barrier and keep bears intact. Only break of 100.40 tops, would signal double-bottom and possible stronger recovery.

The remains under strong pressure, as fresh weakness emerged from the upside rejection at 0.9790, broke below previous low at 0.9527and posted fresh low at 0.9433. Larger bears from 1.0581 remain unobstructed for now and eye the next static support at 0.9382, October 2011 low, with interim support seen at 0.9400. Corrective bounce on oversold near-term studies, do not see much of the upside potential for now, with rallies expected to find solid resistance at 0.9550/0.9600 zone, before bears return to play.

The Euro remains firm, following completion of near-term consolidative phase and fresh rally through previous peak at 1.3305 and 25 Feb high at 1.3317. Fresh bulls are looking for test of 1.3341, Fib 61.8% of larger 1.3710/1.2744 descend, next upside target and psychological 1.3400 barrier. However, extended 4h conditions warn of corrective easing, before bulls take control, with good supports standing at 1.3270, Fib 38.2% / hourly 55 day EMA and 1.3230, Fib 61.8% of 1.3176/1.3333 upleg. Only slide below 1.3200 and higher **** at 1.3176, would delay bulls, in favor of deeper pullback.

Cable maintains positive near-term tone, after corrective pullback found support at 1.5500 zone. Fresh strength approaches strong resistance zone at 1.5683, 06 June high and 1.5700, 200 day MA, clearance of which is seen as a trigger for resumption of larger uptrend that commenced from 1.5000 **** and could extend to 1.5774, Fib 100% expansion. Near-term technicals are positive an support further advance, however, possible hesitation ahead of 1.5700 barrier, cannot be ruled out, as 4h indicators are entering overbought territory. Previous consolidation to at 1.5600, offers initial support, while any stronger pullback should be contained above 1.55 area, to keep bulls intact.

The pair trades in a near-term corrective mode, followed to yesterday’s sharp fall that nearly fully retraced 94.97 / 99.27 rally on a slide to 95.58. The rally is seen as corrective, as near-term studies remain negative, with significant resistance at 97.42, 50% of 99.27/95.58 fall, reinforced by 55 day EMA, coming in focus. Lack of momentum sees risk of recovery stall and fresh weakness, for test of series of important supports, 95.58, 95.39, daily cloud **** and key 94.97, break of which to resume bears off 103.72 peak. On the upside, key near-term barrier lies at 99.27 and only break here would improve short-term structure and allow for stronger corrective action.

The pair extends correction off yesterday’s fresh 3-years low at 0.9324, as recovery accelerated on regain of important 0.9500 barrier, 50% retracement of 0.9673/0.9324 fall. Monday’s gap has been filled that sees potential for further recovery. Positive hourly studies support the notion. However, larger picture bears remain in play, with significant barriers at 0.9672. 06 Jun high and 0.9790, 03 Jun high, break of which to signal stronger corrective action and sideline bears. Otherwise, scenario of lower top and fresh weakness would be likely, as the price cracked important, multi-year congestion floor at 0.9400/0.9380.

The Euro continues to trend higher and hits levels close to 1.3400 barrier, on fresh acceleration at European opening. Bulls remain unobstructed and clearance of the latter to open next target and double Fibonacci level at 1.3482/88, 76.4% retracement of 1.3710/1.2744 descend and 138.2% expansion of the upleg from 1.2795. Corrective pullback may interrupt the rally, as near-term indicators are entering overbought zone, with immediate support at 1.3340, 23.6% of 1.3176/1.3389 / 20 day EMA and more significant 1.3305, previous high of 06 Jun / 55 day EMA, while violation of yesterday’s low at 1.3264, near 50% retracement, would signal deeper reversal and put bulls on hold.

Cable maintains positive near-term tone, with price action being congested at psychological / 200 day MA 1.5700 barrier. Hourly studies are losing traction, while bearish MACD/RSI divergence on 4h chart increases risk of pause in recent rally, in favor of further consolidative/corrective action towards initial support at 1.5632, yesterday’s low / 55 day EMA and 1.5620, Fib 38.2% of 1.5493/1.5700, where dips should be ideally contained. Otherwise, penetration through 1.5600, 50% retracement, would signal stronger correction towards key near term support and higher platform at 1.5500.

The pair remains under strong pressure, as fresh bearish acceleration was triggered on yesterday’s upside rejection at 97.00. The price surged through Ichimoku cloud **** at 95.39 and previous low at 94.97 and also broke below 94.00 support, in a free-fall towards the next significant support and near-term targets at 92.56, 02 Apr low. Daily close below the cloud **** is to confirm bearish structure, as studies on lower and larger timeframes are negative. Minor corrective rallies may interrupt bears, as studies are entering oversold territory, with previous lows at 95.00 zone, offering initial resistance.

Near-term correction off fresh 3-years low at 0.9324, was capped at 0.9562 and fresh slide to 0.9430, weakened hourly structure. The pair remains in a near-term corrective mode, but lack strength for more significant recovery, as technical of the larger timeframes are negative and 4h 55 day EMA limits the upside for now. As overall bears remain in play, downside risk will persist as long as important barriers at 0.9672 and 0.9790 stay intact. Only break above the latter would sideline bears and allow for stronger correction.

The Euro trades in a near-term consolidative mode, with price action moving in a triangular-shape consolidation. Hourly studies are negatively aligned and keep the downside risk towards triangle support at 1.33 zone, also Fib 38.2% of 1.3176/1.3389 upleg. Break here would signal further correction and open Fibonacci 50%/61.8% supports at 1.3283/1.3257. Such scenario is also supported by descending 4h indicators and bearish divergence that may put near-term bulls on hold, once 1.3300 and range floor at 1.3277 is lost. Overall bulls, however, remain in play and see resumption of larger uptrend from 1.2800 higher ****, towards 1.3400 an double Fibonacci resistances at 1.3480 zone, once the correction is completed.

Near-term bulls remain in play, as the pair bounced off last Friday’s correction low at 1.5615 and price approached recent peak at 1.5736. Positive hourly studies are supportive for bullish resumption that requires clear break above 1.5736, however, presence of 4h RSI / MACD bearish divergence, requires caution, as last Friday’s hanging man candle suggests hesitation under 1.5736 high. Initial signal of reversal will be seen on a slide below 1.5615/00 support, however, confirmation would require break below 55 day EMA at 1.5560, to focus higher platform at 1.5500.

The pair holds near-term consolidative mode, trading above fresh low at 93.97/78. The price remains under pressure, despite overnight’s bounce, as near-term studies are negative and see the current action limited. With 20 day EMA capping at 95.30, initial resistance, consolidation range top at 95.80 stays intact for now. Break here and psychological 96.00 barrier, would signal stronger correction, however, not much of recovery to be expected while the price holds below 99.00 breakpoint zone.

The pair remains in a near-term corrective phase and maintain positive tone, as the price consolidates within 0.9556/0.9664 range. With near-term technicals being positively aligned and price action underpinned by 20/55 day EMA’s bullish crossover, the upside remains favored for now, however, break above recent highs and congestion tops at 0.9664/72 is required to resume corrective rally off 0.9324 and open way towards key barrier at 0.9790. Alternative scenario sees rejection under 0.9664, as larger picture bars remain in play, with break below .9556, near-term range floor / 55 day EMA, to increase risk of double-top formation and fresh weakness.

The Euro remains firm ahead of today’s FOMC release, in a renewed attempt above 1.3400 barrier. With brief consolidation off yesterday’s high at 1.3414 being contained by 20 day EMA at 1.3380 zone, the upside remains in near-term focus, as positive studies are supportive. Immediate target lies at 1.3433, 20 Feb high, ahead of more significant double-Fibonacci resistance at 1.3480 zone, 76.4% retracement of 1.3710/1.2744 / 138.2% expansion of the upleg from 1.2795. Corrective dips should be ideally contained at 1.3380/50 zone, to keep the structure intact.

Near-term structure weakened as the price broke below initial support at 1.5615, extending corrective pullback off 1.5751 high to 1.5564. Subsequent bounce to 1.5669, where 55 day EMA limited recovery, lacks momentum for extension towards 1.5700 zone, as hourly indicators are still in the negative territory. Increased risk of lower top would come on a slide below 1.5615, while regain of 1.5700 would bring bulls back in play. Caution is required as daily studies are starting to point lower and price returned below 200 day MA, with previous sessions double-Doji candles, suggesting possible hesitation of larger uptrend from 1.5000 ****. Break below 1.5564/00 supports is required to confirm reversal, otherwise, clearance of 1.5700/51 would signal resumption of an uptrend.

The near-term structure improved, as the price eventually broke above 95.00, initial resistance, however, gains failed to regain next barrier at 95.79. Subsequent reversal risks violation of 95.00, now reverted to support, loss of which to signal and end of near-term corrective phase and confirm double-op formation. With 4h studies still in the negative territory, such scenario is seen likely, unless price breaks above 95.79 and 96.0, 55 day EMA that would give an initial signal of basing attempt.

The pair remains under pressure, as recovery rejection under 0.9672 barrier and fresh slide to 0.9430 zone, weakens the near-term structure. Increased risk exists of double-top formation and fresh weakness that would confirm an end corrective phase and re-expose fresh low at 0.9324. Bearish 20/55 day EMA’s crossover at 0.9550, offers solid resistance and break here would avert immediate downside risk. However, only lift above 0.9672 would provide relief and resume near-term corrective rally.

The Euro remains in a free fall that commenced on yesterday’s repeated rejection at 1.3414 and accelerated post Fed. Losses were interrupted by overnight’s 1.320601.3300 correction, with fresh weakness under way and looking for test of 1.3200 and 1.3176 higher platform / Fib 38.2% of 1.2795/1.3414. Break here is required to confirm reversal and top at 1.34 zone, and open way for more significant correction of 1.28/1.34 upleg. Negative near-term studies keep the downside focused, with corrective bounces seen on oversold conditions. Overnight’s high at 1.3300 offers solid resistance, while only break above 1.3350 zone, would put bears on hold.

Cable remains under heavy pressure, as completion of 4h failure swing on a break below 1.5564 previous low, accelerated bears. Dips extended below 38.2% of 1.5007/1.5751 ascend at 1.5467 and heading towards psychological 1.5400 support and 1.5380, 50% retracement, next targets. Near-term bears are fully in play, with pause in descend, expected from oversold hourly studies. Previous **** and support at 1.55, reinforced by falling 20 day EMA now offers good resistance, ahead of strong 1.5554/64 zone, 50% retracement of entire fall / 18 June low, expected to cap any stronger rally

The pair extends strong rally that commenced from 95.00 support, with brief pause seen under 97.00, yesterday’s high. Fresh acceleration that cleared next barrier at 98.00, looks for test of 98.75, 50% retracement of larger 103.72/93.78 fall and 99.00/27, round figure / 10 June high, on extension. Near-term technicals maintain firm bullish tone, with possible interruption in the rally to be triggered by overbought 1 and 4h chart conditions. Previous highs at 97.00 zone offer solid support and should contain any stronger pullback.

The pair remains under strong pressure, as sharp fall from yesterday’s upside rejection at 0.9555 accelerates below psychological 0.9200 support. Bears remain unobstructed and further extension lower would look for 0.9141, Fib 38.2% of larger 2008/2011 0.6007/1.1079 ascend and psychological 0.9100 support. Brief pauses in current fall, could be expected on oversold conditions, yet no signal of reversal being generated on near-term studies. Initial resistance reinforced by 20 day EMA, lies at 0.9300 zone, ahead of previous low at 0.9324.

The Euro maintains negative sentiment, with extension of pullback from1.3414, below 1.3100, Fib 50% of 1.2795/1.3414, posting fresh three-week low at 1.3058. Consolidative /corrective phase is under way, with price attempting through the upper boundary of consolidation range, for test of initial resistance at 1.3160, and 1.3200, Fib 38.2% of 1.3414/1.3058 fall. Slightly improved hourly studies see some upside potential, however, larger picture’s negative structure keeps the downside favored, as long as 1.3253, last Friday’s high stays intact. Bearish resumption below 1.3058, to open 1.3031, Fib 61.8% and psychological 1.3000 support next.

Near-term recovery phase off fresh low at 1.5342, retraced 61.8% of 1.5528/1.5342 downleg, at 1.5460 zone, where gains were capped. Positive hourly structure sees potential for further recovery towards more significant 1.5500 barrier, Fib 38.2% of 1.5751/1.5342 slide and 1.5528, last Friday’s high, however, prevailing negative tone on 4h chart would keep the downside at risk, as long as the price holds below initial 1.5500 barrier. Initial support lies at 1.5425 and is reinforced by 20 day EMA, with break here and psychological 1.5400 level, to hint lower top formation and fresh weakness towards 1.5342 and possible bearish resumption towards 1.5300 zone, initial target and Fib 61.8% of 1.5007/1.5751 ascend.

The pair is trading in near-term consolidative mode, after extending rally from 93.78 to 98.69, near 50% of 103.72/93.78 descend. Hourly studies are weak, as the price hovers close to the range floor, however, more constructive 4h technicals see potential for further recovery, as the price is supported by 20 day EMA and 20/55 bullish crossover, with 96.85 expected to hold. Immediate targets lay at 99.00 and 99.27, 10 June high, break of which to confirm bottom at 93.78 and open way towards psychological 100 barrier, also Fib 61.8% of 103.72/93.78. Alternative scenario sees increased downside risk on violation of 96.85 support, with 96.23, 50% of recovery rally and 96.00, round figure support, expected to come in focus once 96.85 is cleared.

The pair trades in a near-term consolidative mode, after fresh extension of larger downtrend, posted new low at 0.9146. With the upside being limited at 0.9300 and near-term studies negatively aligned, fresh extension lower and test of next target at 0.9100, would be likely near-term scenario. Conversely, lift above 0.9300 and 0.9324, 11 June low, would delay bears in favor of possible stronger corrective action towards 0.9400/30, next resistance zone. However, overall bearish tone, do not see potential for more significant recovery action for now.

The Euro consolidates recent losses, trading above 1.2980, daily cloud top, where basing attempt is becoming evident. Bounce above 1.3000 that retraced over 61.8% of last Friday’s sharp fall from 1.3102 to 1.2990, improves hourly structure, however, the price remains within the consolidative range. Bullish divergence on 4-hour chart signals possible stronger rally that requires break and daily close above 200DMA at 1.3070 and clearance of 1.3100 barrier, to confirm **** and allow for further correction towards 1.3148/99, Fibonacci 38.2% and 50% retracement of 1.3414/1.2983 fall. On the other side, failure to break above 1.3100 would signal further sideways trade and keep the downside at risk.

Res: 1.3069; 1.3102; 1.3148; 1.3200

Sup: 1.3048; 1.3020; 1.3000; 1.2983

Res: 1.5248; 1.5277; 1.5300; 1.5342

Sup: 1.5200; 1.5164; 1.5109; 1.5032

The pair continues to trend higher, as three consecutive days of higher closing, followed consolidative phase, showed by last week’s triple Doji. The price approaches initial target and psychological barrier at 100.00, also near Fibonacci 61.8% of 103.72/93.78 fall, with upper targets being in focus. Short-term studies remain positive, with 4-hour RSI / MACD bearish divergence, suggesting possible hesitation ahead of important 100 resistance. Supports at 99.00/98.70 are seen as ideal reversal point of any stronger dips, with break above 100.00 barrier, expected to open 100.45, 06/06 high and 101.00, round figure resistance.

Res: 99.85; 100.00; 100.45; 101.00

Sup: 99.50; 99.00; 98.70; 98.51

The Aussie dollar fell below 0.9200 after the short-term corrective phase, off 0.9100 zone, was capped at 0.9250, 61.8% retracement of 0.9343/0.9111. Weakened hourly technicals see increased downside risk as 4-hour studies are still negative. Break above initial 0.9250 barrier is required to revive bulls, while clearance of 0.9343, last week’s high and near 50% retracement of larger 0.9555/0.9111 fall, would spark further recovery and open next targets at 0.9385/0.9400. Otherwise, return to 0.9100 **** and possible resumption of the larger downtrend would be the likely scenario, as larger picture bears remain fully in play.

Res: 0.9200; 0.9230; 0.9281; 0.9300

Sup: 0.9150; 0.9111; 0.9050; 0.9000