The Euro remains at the back foot after last Friday’s spike lower posted fresh low at 1.3671 and quiet overnight trading consolidating around 1.37 handle, where the pair closed trading for the week. Negative structure on 4-hour chart keep the downside pressured, while hourly studies are in neutral mode. Fresh bears below initial support at 1.3690, daily cloud top and 1.3671, last Friday’s fresh five-week low, also near Fibonacci 61.8% retracement of larger 1.3475/1.3965 ascend, open way towards 27 Feb higher low at 1.3642 and psychological 1.3600 support in extension. Corrective action would face the first pivot at 1.3730, last Friday’s post-data spike high and Fibonacci 38.2% of 1.3819/1.3671 descend, above which to signal stronger recovery towards 1.3650 lower ****, where rallies should find solid resistance. Only lift above breakpoint at 1.3819, 02 Apr high and trendline resistance at 1.3830, would neutralize near-term bears.

Res: 1.3730; 1.3750; 1.3770; 1.3805

Sup: 1.3690; 1.3671; 1.3642; 1.3600

Cable remains under pressure and extends near-term corrective pullback off 1.6683, 31 Mar peak, after losing strong supports at 1.6620/00, with fresh low being posted at 1.6548, Fibonacci 61.8% retracement of 1.6464/1.6683 upleg. Negative tone prevails on lower timeframes studies, favors further weakness, with extension below 1.6548, to expose psychological 1.6500 level next, also bear-channel support and focus key near-term support at 1.6464, 24 Mar low. Previous support, last Friday’s high; double MA’s bear-crossover and Fibonacci 38.2% of 1.6683/1.6548 at 1.6600, now offers initial resistance, ahead of 1.6620, previous congestion **** / 50% retracement and pivotal barrier and lower platform at 1.6660.

Res: 1.6600; 1.6620; 1.6660; 1.6685

Sup: 1.6563; 1.6548; 1.6500; 1.6464

The pair enters near-term corrective phase after repeated failure to clear psychological 104 barrier. Subsequent pullback probes at psychological / 38.2% retracement of 101.19/104.10 / daily cloud top support, below which to confirm negative near-term mode and allow for deeper pullback. Hourly studies are negative, as well as 4-hour indicators attempting below the midlines and supporting the notion. Further easing should ideally fin footstep at 102.65, previous consolidation top and 50% retracement, to keep larger picture bulls intact for fresh attempt higher. Break above 104 handle to open lower tops at 104.73/93 next.

Res: 103.38; 103.55; 103.68; 104.10

Sup: 102.98; 102.65; 102.30; 102.00

The pair regained strength and rallied from near-term ****, established at 0.92 zone, to fully retrace 0.9302/0.9204 corrective phase. Fresh probe above 0.93 barrier and near-term congestion tops is under way, with fresh bulls on 4-hour studies being supportive for eventual break higher and extension of larger uptrend from 0.8658 towards 0.9336, Fibonacci 61.8% of 0.9755/0.8658, also bull-channel resistance. Overextended hourly studies, however, may signal prolonged consolidation before fresh attempt higher, with initial support at 0.9265 and higher **** at 0.92 zone, required to hold.

Res: 0.9306; 0.9336; 0.9388; 0.9400

Sup: 0.9265; 0.9240; 0.9200; 0.9184

Spot Gold trades in extended consolidative phase off fresh low at 1277, with crack and weekly close above psychological 1300 resistance and breakpoint, confirming near-term ****. Fresh bulls, established on lower timeframes, favor further upside and look for the next targets at 1315 lower platform and 1321, Fibonacci 38.2% retracement of 1392/1277 descend, break of which to revive larger picture bulls. Corrective action on overbought near-term conditions is expected to precede fresh push higher, with good support standing at 1295, Fibonacci 38.2% of 1277/1306 and previous double-top, where dips should be ideally contained.

Res: 1306; 1315; 1321; 1334

Sup: 1295; 1288; 1284; 1281

Spot Silver trades in near-term sideways mode after recovery attempts above initial 20.00 barrier failed to sustain break. Lack of momentum for more significant action in the near-term, results in neutral 4-hour and negatively aligned hourly technicals that keeps near-term neutral mode in play. However, bearish larger picture sees scope for fresh extension lower, once consolidative phase is over, with break below near-term **** at 19.56, to face interim supports at 19.30 and 19.11, en-route towards short-term target at 18.99, 30 Jan low. Daily death-cross formation of 20/200SMA and bear-cross of 20/55SMA’s, support the notion.

Res: 19.94; 20.13; 20.21; 20.40

Sup: 19.77; 19.65; 19.62; 19.56

The Euro returned to strength, with fresh acceleration of recovery from 1.3671, 04 Apr low, probing above psychological 1.380 barrier. The rally was capped just under pivotal 1.3820 resistance, 02 Apr previous high / Fibonacci 38.2% retracement of 1.3965/1.3671 rally and bear-channel resistance. Positive near-term technicals are supportive for eventual break here, to confirm near-term bottom and open way for further recovery towards 1.3853, Fibonacci 61.8% retracement and lower top of 24 Mar at 1.3874. Corrective actions on overbought near-term studies are expected to precede fresh push higher, with 1.3750/60 zone, Fibonacci 38.2% retracement of 1.3671/1.3810 rally and previous **** of 20/25 Mar, seen as ideal reversal point. Any weakness below 1.3740 higher platform / daily cloud top and rally’s mid-point, would delay immediate bulls.

Res: 1.3810; 1.3820; 1.3853; 1.3874

Sup: 1.3777; 1.3757; 1.3740; 1.3724

Cable surged yesterday, leaving higher **** at 1.6548 and resuming the bull-phase off 1.6464, 24 Mar low, after clearing 1.6683, 31 Mar previous top. Break above bear-channel resistance and completion of inverted head-and shoulders pattern on 4-hour chart, sees scope for eventual push towards 1.6784, 07 Mar lower top and attack at key near-term barrier at 1.6821, 17 Feb peak. Near-term studies are positive, however, overbought conditions suggest pause ahead of fresh push higher, with previous peaks at 1.6716 and 1.6683 offering immediate supports. Further dips should be ideally contained at 1.6650, 50% retracement of 1.6548/1.6753 upleg / daily Tenkan-sen line, to keep the structure intact. Conversely, slide below previous barriers at 1.6620/00, reinforced by daily cloud top, will be bearish.

Res: 1.6753; 1.6784; 1.6800; 1.6821

Sup: 1.6716; 1.6683; 1.6650; 1.6620

The pair resumes the downtrend from 104.11 peak, as fresh acceleration lower cleared 102, psychological / trendline support and found temporary footstep at 101.54. With the biggest part of 101.20/104.11 rally being already retraced, risk of retesting strong 101.20 **** remain in play. Bears may be delayed as near-term studies are oversold, with initial 102 barrier being regained and rallies expected to find solid resistance at 102.65, previous support and 102.83, 50% retracement of 104.11/101.54, ahead of psychological 103 barrier, reinforced by double MA’s bear-cross, where rallies should be capped. Violation of 102.20 **** is expected to open another key support at 100.74, low of 04 Feb 2014.

Res: 102.50; 102.65; 102.83; 103.00

Sup: 101.83; 101.54; 101.20; 100.74

The pair the pair remains supported and moves higher after eventual break above near-term congestion tops at 0.93 triggered fresh extension of larger uptrend that commenced from 0.8658. Fresh bulls probed above bull-channel resistance and Fibonacci 61.8% of 0.9755/0.8658 descend, on extension to 0.9385 so far, focusing psychological 0.9400 barrier and 0.9477, Fibonacci 138.2% expansion of the wave from 0.8889, 03 Mar higher low. However, overbought near-term studies see consolidative/corrective phase preceding fresh push higher. Initial support lies at 0.9330, ahead of more significant 0.9316, Fibonacci 38.2% of 0.9204/0.9385 upleg, reinforced by hourly 55SMA and 0.9300, previous range tops, where corrective dips should face good support.

Res: 0.9385; 0.9400; 0.9477; 0.9500

Sup: 0.9330; 0.9316; 0.9300; 0.9273

Spot Gold remains supported and resumes recovery rally off 1277 low, after leaving higher **** 1295. Fresh bulls tested next target at 1315, 25/26 Mar lower platform / daily Cloud top, above which to open 1319/21, daily 20SMA / Fibonacci 38.2% retracement of 1392/1277 descend, with break here to confirm bottom at 1277 for further recovery. Positive near-term studies are supportive, with consolidative phase expected to precede fresh extension higher. Conolidation floor at 1306 offers immediate support, ahead of 1300/1297, psychological support / 200SMA and 1295 ****, where stronger dips should ideally find footstep.

Res: 1315; 1321; 1334; 1342

Sup: 1306; 1300; 1297; 1295

Spot Silver trades in near-term sideways mode after recovery attempts above initial 20.00 barrier failed to sustain break. Near-term studies are losing traction as upside attempts above psychological 20.00 barrier stalled at 20.14. Sustained break above current range top at 20.21, reinforced by daily 100SMA and regain of 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, is seen as minimum requirement to avert immediate downside risk and signal stronger recovery. Otherwise, increased downside risk will remain in play, as larger picture studies are bearish and 20/200SMA’s death-cross and 20/55 bearish cross, keeping the downside pressured. Completion of near-term consolidation expected to fresh weakness for final push towards short-term target at 18.99, 30 Jan low.

Res: 20.09; 20.17; 20.21; 20.40

Sup: 19.84; 19.77; 19.65; 19.56

The Euro came under pressure after overnight’s gap lower opening which followed last Friday’s test of 1.39 barrier and hesitation, confirmed by Doji candle. Weakened hourly studies see risk of further easing that should be viewed as corrective phase of larger uptrend, with notion confirmed by 4-hour indicators reversing form overbought territory. Extension of Asian narrow range trading would threaten test of strong 1.3820/00 support zone, where previous tops of 01/02 Apr lay, along with Fibonacci 38.2% retracement of 1.3671/1.3904 upleg and support being reinforced by broken bear-trendline, drawn off 1.3965 peak and daily Kijun-sen line. Ideally, dips should find support around 1.38 handle and above 1.3779, 09 Apr higher low / daily Tenkan-sen line, to keep near-term bullish structure intact for renewed attempt through 1.3900 hurdle and eventual test of key 1.3965 barrier, 13 Mar peak. Violation of 1.3779 and Fibonacci 61.8% at 1.3760, would sideline near-term bulls and shift near-term focus lower.

Res: 1.3859; 1.3900; 1.3946; 1.3965

Sup: 1.3820; 1.3800; 1.3779; 1.3760

Cable trades in near-term corrective mode off fresh high at 1.6819, after fresh bulls completed 1.6821/1.6464 corrective phase. Pullback was so far contained at 1.6715, Fibonacci 38.2% of 1.6548/1.6819 upleg / broken bear-channel upper line, where dips should be ideally contained. Overall picture remains positive and favors final push through 1.6821 peak, to resume broader bull-trend on extension of the third wave from 1.6548, 04 Apr higher low, to 1.6849, its 138.2% Fibonacci expansion and 1.6900, Fibonacci expansion 161.8%, in extension, once corrective phase is completed. However, risk of further consolidation and possible deeper corrective action is seen on overextended studies on 4-hour chart, as Evening star pattern is formed on a daily chart. Break below 1.6715 support to open 1.6684, 31 Mar previous peak and 50% retracement and 1.6652, Fibonacci 61.8% retracement in extension.

Res: 1.6748; 1.6790; 1.6821; 1.6849

Sup: 1.6715; 1.6683; 1.6652; 1.6600

The pair trades in near-term sideways mode, consolidating recent losses that found temporary support at 101.31. Near-term studies are bearish and look for final attack at strong 101.20 ****, to fully retrace 101.20/ 104.11 bull-leg and open way towards key short-term support at 100.74, 04 Feb low. However, hesitation on approach to key support levels, should be anticipated, as 4-hour studies are reversing from oversold zone and suggest further consolidative action. Signal of stronger recovery attempt requires bounce above 102.14, 09 Apr lower platform reinforced daily cloud ****, to sideline immediate downside risk and open way for stronger recovery towards Fibonacci barriers at 102.38 and 102.71, 38.2% / 50% retracement of 104.11/101.31 descend , with psychological 103 barrier, also double MA’s bear-cross, and Fibonacci 61.8% retracement, expected to cap stronger rallies.

Res: 101.86; 102.14; 102.38; 102.71

Sup: 101.31; 101.20; 100.74; 100.00

The pair corrects fresh bulls that peaked at 0.9460 last week, with near-term price action consolidating above the pullback low and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line. Overall positive sentiment keeps the upside still in play for eventual test of next targets at 0.9477, Fibonacci 138.2% expansion of the third wave from 0.8889 and 0.9500, round-figure resistance / Fibonacci 76.4% retracement of 0.9755/0.8658 descend. However, hourly studies are losing traction, while 4-hour indicators are descending from overbought territory that may delay bulls for further consolidative/corrective action. Previous peaks and Fibonacci 61.8% retracement of 0.9204/0.9460 at 0.9300, should contain stronger pullbacks.

Res: 0.9425; 0.9460; 0.9477; 0.9500

Sup: 0.9362; 0.9332; 0.9300; 0.9253

Spot Gold remains supported and resumed near-term uptrend after clearing last Thu/Fri consolidation tops at 1324. Immediate targets lay at 1334, 50% retracement of 1392/1277 descend and 1342, 21 Mar lower high. Positively aligned near-term technicals support the scenario, with 1324 now offering initial support. Further down, Friday’s correction low and previous consolidation peaks at 1313, offer strong support and should keep the downside protected.

Res: 1334; 1342; 1348; 1354

Sup: 1324; 1313; 1309; 1300

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

The Euro remains at the back foot with fresh acceleration probing below 1.3800, psychological support / Fibonacci 38.2% of 1.3671/1.3904, reinforced by broken bear-trendline and 4-hour 55SMA. Clear break here to signal stronger reversal and mark near-term top at 1.3904. Negative hourly technicals favor further downside, with 4-hour indicators breaking below their midlines and supporting bearish scenario. Immediate targets lay at 1.3780 zone, 50% retracement / 09 Apr higher low and 1.3760, Fibonacci 61.8% retracement. Consolidation high at 1.3832 offers initial resistance, ahead of more significant yesterday’s highs at 1.3860, reinforced by double 10/55 and 20/55 SMA’s bearish crosses, where upside attempts should be capped. Only break here and filling yesterday’s gap would turn the picture bullish and signal higher **** formation for fresh attempt at the upper targets at 1.3904 and 1.3965.

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Res: 1.3832; 1.3862; 1.3904; 1.3946

Sup: 1.3780; 1.3760; 1.3736; 1.3700

Cable trades in near-term corrective mode off 10 Apr high at 1.6819, after completing short-term 1.6821/1.6464 corrective phase. Fresh weakness through 1.6715, Fibonacci 38.2% of 1.6548/1.6819 upleg / broken bear-channel upper line, cracked psychological 1.67 support, signaling deeper pullback, as the price so far spiked near 61.8 % retracement of 1.6548/1.6819 ascend. Indicators on 4-hour chart are breaking into negative territory that suggests further easing, as hourly technicals are bearish. Break below 1.6652/42, Fibonacci 61.8% of 1.6548/1.6819 and 50% retracement of 1.6464/1.6819 ascend, to confirm near-term top and the price’s return back to range trading. Extension below 1.66 handle would risk possible retest of key near-term support at 1.6548, 04 Apr higher low. Alternative scenario requires lift above previous consolidation tops at 1.6740 zone, to avert immediate downside risk.

Res: 1.6740; 1.6790; 1.6821; 1.6900

Sup: 1.6652; 1.6642; 1.6600; 1.6563

The pair trades in near-term sideways mode, consolidating recent losses that found temporary support at 101.31. Near-term tone is turning positive as the price moves towards the upper boundary at 102.00/15, reinforced by broken bear-trendline off 100.74, with hourly studies gaining traction. Clear break here is required to revive 4-hour bulls and allow for stronger recovery, as reversal pattern is building up on daily chart. However, upside attempts are so far seen limited, as overall picture remains bearish and favors further weakness for full retracement of 101.20/104.11 ascend and test of key support at 100.74 in extension. Only break above 103 barrier would improve and shift near-term focus higher.

Res: 102.00; 102.14; 102.38; 102.71

Sup: 101.83; 101.31; 101.20; 100.74

The pair trades in near-term consolidative mode, after fresh extension of bull-phase from 0.8658 bulls peaked at 0.9460 last week. Near-term price action consolidates above the pullback low and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line. Overall positive sentiment keeps the upside still in play for eventual test of next targets at 0.9477, Fibonacci 138.2% expansion of the third wave from 0.8889 and 0.9500, round-figure resistance / Fibonacci 76.4% retracement of 0.9755/0.8658 descend. However, hourly studies are losing traction, while 4-hour indicators are descending from overbought territory that may delay bulls for further consolidative/corrective action. Previous peaks and Fibonacci 61.8% retracement of 0.9204/0.9460 at 0.9300 zone should contain stronger pullbacks.

Res: 0.9424; 0.9460; 0.9477; 0.9500

Sup: 0.9362; 0.9332; 0.9300; 0.9253

Spot Gold enters near-term corrective phase off fresh high at 1330, posted yesterday. Acceleration through initial supports at 1324 and 1310 brings hourly bears in play, with Fibonacci 38.2% retracement of recovery rally from 1277 to 1330, being tested so far. Further weakness would risk extension to 1300, 09 Apr higher low / psychological support / 200SMA and near 50% retracement, where dips should find support to avert risk of neutralizing bulls and fresh extension towards key support and near-term **** at 1277.

Res: 1313; 1319; 1324; 1330

Sup: 1304; 1300; 1295; 1281

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

The Euro trades in a corrective mode off fresh low at 1.3789, where strong support, 50% retracement of 1.3671/1.3904 / broken bear-trendline off 1.3965 peak, contained reversal off 1.3965 for now. Consolidative action broke above initial 1.3832, yesterday’s recovery rally peak and Fibonacci 38.2% retracement of 1.3904/1.3789 pullback, to retrace 50% so far, on extension to 1.3850. Improving hourly studies support further advance towards pivotal 1.3860, weekly highs and Fibonacci 61.8% retracement of 1.3904/1.3789, above which to confirm higher low formation and look for retest of key 1.3904 peak, after filling Monday’s gap. Bullish daily studies support scenario. Session low at 1.3805, also higher low of ascend from 1.3789, should keep the downside protected. Alternative scenario requires loss of 1.3805 and more significant 1.3789 support to bring bears back in play for extension of the downmove from 1.3904, 11 Apr peak.

Res: 1.3860; 1.3879; 1.3904; 1.3941

Sup: 1.3832; 1.3805; 1.3789; 1.3760

Cable completed near-term corrective phase off 1.6819, as the pullback was generally contained at 1.6700 zone, broken bear-channel resistance line, excluding yesterday’s short-lived spike lower to 1.6657. Near-term bulls are fully in play for eventual break above 1.6819/21 peak, clearance of which to signal an end of short-term congestion and resume larger bull-trend towards 1.6900, round-figure, above which to expose interim barrier at 1.6957, Fibonacci 138.2% projection, en-route to psychological 1.7000 resistance. Larger picture bullish structure is supportive. Corrective actions should be ideally contained above 1.6750, previous congestion tops.

Res: 1.6821; 1.6850; 1.6900; 1.6957

Sup: 1.6790; 1.6750; 1.6718; 1.6700

The pair is gaining traction after break above initial 102.00/15 barriers improves near-term structure and signals basing attempt. Break above the next hurdle at 102.38, Fibonacci 38.2% retracement of 104.11/101.31 is requires to sideline downside risk and open way for further recovery towards 102.71, 50% retracement and psychological 103 barrier, also Fibonacci 61.8% retracement and reinforced by double MA’s bear-cross. Weak daily studies see corrective action limited and only break above 103 barrier is required to bring bulls fully in play.

Res: 102.38; 102.7; 103.00; 103.29

Sup: 102.00; 101.80; 101.50; 101.31

The pair came under pressure after extension below near-term consolidation floor and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line extended pullback to 0.9331, 50% retracement of 0.9204/0.9460 upleg. Negative hourlies and 4-hour indicators breaking into negative territory, keep the downside favored in the near-term, with completion of consolidative phase expected to trigger further weakness. Return and possible break of pivotal 0.9300 support, Fibonacci 61.8% retracement / previous peaks of 28 Mar / 01 Apr, to confirm reversal and mark near-term top at 0.9460. Reversing daily indicators favor the scenario, with clear break below 0.93 handle, required to confirm.

Res: 0.9383; 0.9400; 0.9424; 0.9460

Sup: 0.9331; 0.9300; 0.9253; 0.9204

Spot Gold came under strong pressure and slumped yesterday, losing all important supports, with price dipping to 1286 so far, to nearly fully retrace near-term rally from 1277 to 1330. Corrective action on oversold near-term studies is under way, with psychological barrier and previous strong support, reinforced by 200SMA at 1300, holding the upside attempts limited, despite marginal break higher. Overall negative tone favors final push to 1277, with completion of 1277/1330 bull phase to confirm lower top formation at 1330 and spark fresh leg lower, as extension of larger downtrend from 1392, 17 Mar peak. Alternatively, clear break above 1300 barrier and regain of 1313, previous support and Fibonacci 61.8% retracement of 1330/1286 downleg, would sideline near-term bears and avert immediate risk towards 1277 breakpoint.

Res: 1308; 1313; 1319; 1324

Sup: 1293; 1286; 1277; 1262

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

The Euro holds positive near-term tone off fresh low at strong 1.3789 support, as the price stabilizes above 1.38 higher ****, supported by daily 20SMA / Tenkan-sen line. Recovery attempts are so far limited at initial 1.3850 barrier, also 50% retracement of 1.3904/1.3789 fall and ahead of more significant 1.3860, weekly highs / last Friday’s low and Fibonacci 61.8% retracement of 1.3904/1.3789. Sustained break here that also requires to fill Monday’s gap, is required to bring bulls fully in play for eventual attempt at 1.3904, 11 Apr high and possible attack at key 1.3965 high. Hourly structure is positive, while neutral tone prevails on 4-hour studies. Break above initial barriers and near-term congestion tops is required to revive 4-hour bulls and avert risk of re-visiting 1.3800 and more important 1.3789, loss of which will be bearish.

Res: 1.3850; 1.3860; 1.3904; 1.3946

Sup: 1.3824; 1.3800; 1.3789; 1.3760

Cable eventually broke above multi-month congestion tops at 1.6820 and trades at levels last time seen in 2009. However, marginal break higher requires today’s close above 1.6820, to confirm bullish resumption of the bull-leg from 1.4812, July 2013 low and open 1.6877, November 2009 peak and 1.6900 in extension. Sustained break higher is required to shift focus towards psychological 1.7000 barrier and key longer-term resistance at 1.7041, August 2009 peak. Overall picture remains bullish and keeps the upside favored, with corrective dips to face initial support at 1.6780 higher ****. Key near-term support lies at 1.67 **** and only break here would sideline near-term bulls.

Res: 1.6836; 1.6877; 1.6900; 1.6950

Sup: 1.6780; 1.6768; 1.6750; 1.6725

Acceleration above near-term congestion top at 102.00 failed to clear 102.38, Fibonacci 38.2% retracement of 104.11/101.31 descend and daily Ichimoku cloud top, as rally stalled here. Subsequent return to the levels below 102 handle, now support, retraced 50% of larger 100.74/102.35 ascend, would signal false break and risk further weakness, if the price slides below 101.70, Fibonacci 61.8% retracement / bull-trendline drawn off 101.31 low. Negative hourly studies support such scenario. However, positive tone, persisting on 4-hour chart, would keep the upside favored if the price stabilizes above 102 handle and renewed attempt higher breaks above 102.38, minimum requirement to confirm bear-term **** at 101.31 and allow for stronger recovery. Strong resistance and breakpoint lies at 103 zone, Fibonacci 61.8% retracement of 104.11/101.31 descend / daily Ichimoku cloud top, where possible stronger rallies should be capped , as larger picture bears remain in play.

Res: 102.38; 102.71; 103.00; 103.29

Sup: 101.85; 101.70; 101.50; 101.31

The pair trades in near-term consolidative mode after corrective attempt off fresh low at 0.9331, 50% retracement of 0.9204/0.9460 upleg, stays capped under psychological 0.9400 barrier. Near-term technicals are neutral, with break of 0.94 barrier required to confirm higher **** and re-open fresh high at 0.9460. Otherwise, the downside would remain at risk in the near-term, with loss of 0.9331 temporary support, expected to trigger fresh extension of corrective pullback from 0.9460, towards 0.9300 breakpoint, Fibonacci 61.8% retracement / previous peaks of 28 Mar / 01 Apr, loss of which to sideline near-term bulls in favor of stronger correction.

Res: 0.9400; 0.9424; 0.9460; 0.9500

Sup: 0.9351; 0.9331; 0.9300; 0.9253

Spot Gold trades in neutral near-term tone, with recovery attempts off fresh low at 1286, being capped at 1306, as the price failed to sustain gains above psychological 1300 barrier. Near-term technicals remain weak and keep the downside favored for eventual push to 1277, 01 Apr low, to full retrace 1277/1330 recovery phase. Break lower to confirm lower top formation at 1330 and spark fresh extension of larger downmove from 1392, 17 Mar peak and expose 1262, Fibonacci 61.8% retracement of larger 1182/1392 rally. Daily studies are negative and keep the downside risk in play, while only sustained break and weekly close above 1300 support, also 200SMA, would ease immediate bear-pressure.

Res: 1308; 1313; 1319; 1324

Sup: 1293; 1286; 1277; 1262

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

The Euro gains negative momentum and attempts at the lower boundary of week-long range trading. Yesterday’s failure to sustain recovery attempt above initial 1.38 support, triggered fresh weakness, as broken bull-trendline off previous 15 Apr low at 1.3789, capped the rally. Negative tone is establishing on near-term studies and keeps the downside pressured, with clear break below 1.3789 range’s lowest point, required to confirm lower top at yesterday’s 1.3829 peak and resume the third wave off 1.3729, towards its 100% Fibonacci expansion at 1.3769 and Fibonacci 61.8% retracement of 1.3671/1.3904 at 1.3760, also broken bear-trendline, drawn off 1.3965, 13 Mar peak. Acceleration lower to confirm bears fully in play and open way towards 1.3730/20, main bull-trendline off 1.3475, 03 Feb low / daily Ichimoku cloud **** and psychological 1.3700 support. Previous support at 1.38 zone, now offers initial resistance, ahead of 1.3829, yesterday’s high and above 50% of 1.3863/1.3784 descend, with alternative scenario requiring break here to sideline immediate bears.

Res: 1.3800; 1.3815; 1.3829; 1.3850

Sup: 1.3760; 1.3726; 1.3700; 1.3671

Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Hourly tone remains neutral, after the price found footstep at 1.6773 and trades within narrow range. On the other side, positive 4-hour studies see the upside favored, with eventual break above 1.6841 peak, required to resume larger rally and avert risk of deeper reversal, signaled by bearish MACD / RSI divergence. Break above 1.6841 to open 1.6877, November 2009 peak and 1.6900, round figure resistance in extension. Conversely, break below 1.67 higher **** and Fibonacci 38.2% of 1.6464/1.6841 upleg, would revive near-term bears and signal reversal scenario.

Res: 1.6821; 1.6841; 1.6877; 1.6900

Sup: 1.6773; 1.6750; 1.6720; 1.6700

The pair maintains positive near-term tone and continues to move higher, as extension from 101.85 higher low penetrated daily cloud **** and so far tested 102.71, 50% retracement of 104.11/101.31. Further advance remains favored, with next barriers laying at 102.89, 100SMA and 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 **** and resume rally from 101.31, 11 Apr low. Bullish 20/55SMA’s crossover at 102.20 zone, where corrective dips should ideally find support, underpins the action, while only reversal below 101.85 higher low and Fibonacci 61.8% of 101.31/102.71 upleg, would bring near-term bears back in play and risk retest of 101.20 ****. Negatively aligned daily studies would keep the downside at risk while 103 barrier caps recovery attempts.

Res: 102.71; 102.89; 103.00; 103.29

Sup: 102.20; 102.00; 101.85; 101.50

The pair trades in near-term corrective mode off fresh high at 0.9460, with fresh acceleration higher seen off 0.9314 low. The rally retraced nearly 38.2% of 0.9460/0.9314 reversal, with hourly studies turning positive. However, risk of lower top formation and fresh weakness would remain in play, as long as the price holds below initial 0.9389 lower top of 17 Apr and 50% retracement, with negatively aligned 4-hour technicals supporting the notion. Clear break above 0.9389 and psychological 0.9400 barrier, is required to bring bulls fully in play and signal higher low formation for eventual push towards key near-term barrier at 0.9460. Bullish daily studies favor this scenario and only loss of 0.9300 breakpoint would delay bulls.

Res: 0.9370; 0.9390; 0.9424; 0.9460

Sup: 0.9345; 0.9315; 0.9300; 0.9253

Spot Gold maintains negative tone, as fresh extension lower posted new low at 1281, above which near-term consolidation is under way. Fresh bears are looking for final push to key 1277 support, 01 Apr low, break of which to complete 1277/1330 upleg and signal fresh extension of larger downtrend from 1392, 17 Mar peak, as well as confirm lower top formation at 1330. Prevailing bearish tone on lower and larger timeframes, supports scenario. Initial resistances lay at 1293 and 1300, while sustained break above recent consolidation tops at 1304, would avert immediate downside risk.

Res: 1293; 1300; 1304; 1308

Sup: 1281; 1277; 1262; 1250

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

The single currency bounced after yesterday’s attempt at near-term range floor left marginally lower low at 1.3784. Cracking important resistance at 1.3830, 21 Apr high / main bear-trendline off 1.3904 peak / Fibonacci 61.8% retracement of 1.3863/1.3784 downleg, confirms **** at 1.3790 zone and brings the price back to the range. Improved hourly structure sees potential for eventual push towards 1.3863, 17 Apr lower top and range top, regain of which to confirm double-bottom formation on 4-hour chart and re-focus key near-term barrier at 1.3904, 11 Apr peak. However, still weak 4-hour studies require caution and keep in play risk of possible stall and lower top formation under 1.3904. Corrective pullbacks off fresh highs should not exceed 1.38 support, to keep freshly established near-term bulls in play.

Res: 1.3850; 1.3863; 1.3904; 1.3941

Sup: 1.3800; 1.3784; 1.3760; 1.3736

Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Positive near-term tone keeps the upside in focus, as the price attempted again at the recent peak. Also, positive 4-hour studies support the notion, with eventual break above 1.6841 peak, required to resume larger rally and avert risk of deeper reversal, signaled by bearish MACD / RSI divergence formation. Break above 1.6841 to open 1.6877, November 2009 peak and 1.6900, round figure resistance in extension. Conversely, extension below initial support and consolidation floor at 1.6773, would signal corrective action, while only break below 1.67 higher **** and Fibonacci 38.2% of 1.6464/1.6841 upleg, would revive near-term bears for stronger pullback.

Res: 1.6841; 1.6877; 1.6900; 1.6950

Sup: 1.6773; 1.6750; 1.6720; 1.6700

The pair maintains positive near-term tone and consolidates recent gains after extension from 101.85 higher low, so far tested 102.71, 50% retracement of 104.11/101.31. Further advance remains favored, with next barriers laying at 102.89, 100SMA and 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 **** and resume rally from 101.31, 11 Apr low. Bullish 20/55SMA’s crossover at 102.20 zone, also Fibonacci 38.2% retracement of 101.32/102.71 upleg, underpins the action and is seen as ideal reversal point in case of stronger pullback. Only loss of 101.85 higher low and Fibonacci 61.8% of 101.31/102.71 upleg, would bring near-term bears back in play and risk retest of 101.20 ****. Negatively aligned daily studies would keep the downside at risk while 103 barrier caps recovery attempts.

Res: 102.71; 102.89; 103.00; 103.29

Sup: 102.40; 102.20; 102.00; 101.85

The price accelerated reversal off 0.9460 peak after leaving lower top at 0.9377 and lost pivotal 0.9300 support, on a dip to 0.9272 so far. As hourly studies turned negative and 4-hour indicators remain in the negative territory, downside risk remains in play. Extension to the next strong support and breakpoint at 0.92 zone, 03 Apr higher low, reinforced by main bull-trendline, drawn off 0.8658, is seen as likely near-term scenario. Reversing daily indicators support the notion of deeper corrective action, as a part of larger uptrend from 0.8658, 19 Jan year-to-date low. Corrective rallies on oversold hourly conditions face initial 0.9300 barrier, ahead of previous consolidation floor at 0.9315, with extensions higher to be ideally capped under 0.9340, 61.8% of the fall from 0.9375, to keep bears intact. Upside pivot lies at 0.9375 and only break here to neutralize near-term bears.

Res: 0.9300; 0.9315; 0.9340; 0.9375

Sup: 0.9273; 0.9253; 0.9200; 0.9150

Spot Gold eventually cracked important 1277 support, 1 Apr low / 100SMA and fully retraced bull-phase off 1277 that peaked at 1330. Clear break lower is required to confirm lower top at 1330, 14 Apr high and signal resumption of larger downtrend from 1392, 17 Mar peak. According to the wave principles, the third wave that commenced from 1330, could extend to its 61.8% Fibonacci expansion at 1258, just under Fibonacci 61.8% retracement of 1182/1392 ascend at 1262 and could travel to 1212, its 100% expansion. Negative tone prevails on all timeframes and keeps the downside favored in the near-term. Corrective actions should be ideally limited under 1300, psychological barrier and 20/200SMA’s death cross.

Res: 1288; 1293; 1300; 1306

Sup: 1276; 1262; 1258; 1240

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40

Sup: 19.90; 19.77; 19.60; 19.56

Res: 1.3800; 1.3840; 1.3868; 1.3900

Sup: 1.3744; 1.3720; 1.3700, 1.3670

Cable stalled on approach to psychological 1.7000 barrier and pulled back to 1.6830 zone, triggering daily and weekly close in red and signaling possible stronger pullback in larger bull-trend. Reversal was so far contained by daily 20SMA and just above previous peaks, keeping overall bulls so far intact and marking current easing a technical pullback, before fresh attempts higher. On the other side, negative near-term studies and daily indicators in descending mode from overbought territory, keep the downside risk in play. Confirmation of negative scenario, however, requires clear break below higher platform at 1.6760 zone, to confirm. Otherwise, the upside targets will remain in near-term focus, with regain of 1.69 handle, required to confirm bulls back in play.

Res: 1.6900; 1.6918; 1.6973; 1.6995

Sup: 1.6800; 1.6760; 1.6730; 1.6700

The pair closed below 102 barrier, marking weekly close in negative tone, with daily indicators in negative zone, maintaining downside risk on the larger picture. On the other side, lower timeframes studies hold neutral stance, after near-term price action stabilized above 101.20, short-term ****, averting immediate risk of violation of strong 101.20 / 100.74 support, in favor of extended consolidation. Gains so far hold below 102 resistance, keeping sideways mode in play, despite improved hourly studies. Only sustained break above 102 barrier and lower top at 102.18, to signal double-bottom formation and fresh recovery attempt.

Res: 102.00; 102.18; 102.40; 102.78

Sup: 101.42; 101.31; 101.20; 101.00

The Aussie holds positive near-term tone against the greenback, as bounce from 0.92 **** retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern is nearly completed, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s. Break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next. Conversely, break below trendline support 0.9300 to delay, while only loss of 0.92 handle will be bearish

Res: 0.9377; 0.9393; 0.9424; 0.9460

Sup: 0.9346; 0.9317; 0.9300; 0.9250

Res: 1.3773; 1.3800; 1.3840; 1.3868

Sup: 1.3744; 1.3720; 1.3700, 1.3670

Cable remains at the back foot in the near term, after recovery attempt from fresh low at 1.6829, run out of steam at initial 1.69 barrier. Near-term technicals are negatively aligned and keep the downside at risk, while the price holds below 1.69 handle. Fresh weakness through 1.6821, previous high and psychological 1.68 support, also near 38.2% retracement of 1.6464/.6995 ascend, is required to confirm reversal and open 1.6760 higher platform and 1.6730, rally’s mid-point. Conversely, sustained break above 1.69 barrier, would bring bulls fully in play and signal an end of near-term corrective phase, for fresh attempt towards psychological 1.7000 resistance.

Res: 1.6900; 1.6932; 1.6973; 1.6995

Sup: 1.6861; 1.6829; 1.6800; 1.6760

The pair regained strength and eventually broke through 102 barrier, extending near-term recovery off 101.40 higher ****. Neat-term studies turned positive and keep further upside favored for now, with next targets laying at 102.70, mid-point of 104.11/101.31 fall/ daily cloud top and 103, range top. Clear break of the latter is required to break above 101.20/103 congestion and resume recovery. Otherwise, further range trading would likely near-term scenario. However, still negative daily studies keep the downside at risk, as long as the price remains below 103 handle.

Res: 102.40; 102.70; 103.00; 103.38

Sup: 101.42; 101.84; 101.60; 101.45

The pair maintains positive near-term tone and consolidates under fresh highs near 0.94 barrier. Recovery rally from 0.92 ****, so far retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern hasn’t been completed yet, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s, however, further hesitation ahead of 0.94 hurdle cannot be ruled out, as hourly studies are losing traction, with loss of psychological / trendline support at 0.93 to further delay bulls, while only loss of 0.92 handle would revive bears. Conversely, break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next.

Res: 0.9365; 0.9384; 0.9393; 0.9424

Sup: 0.9317; 0.9300; 0.9250; 0.9200

Res: 1.3773; 1.3800; 1.3840; 1.3876

Sup: 1.3688; 1.3670; 1.3642; 1.3619

Cable continues to trend lower and posted marginally lower low at 1.6817, approaching psychological 1.68 support, also Fibonacci 38.2% retracement of 1.6464/1.6995 upleg. Near-term studies are negative and favor further downside, while bulls are still in play on the larger timeframe that requires reversal above 1.6760 higher platform, to maintain the structure in positive mode for fresh attempt higher and repeated attack at psychological 1.70 barrier. Extension below 1.6760, however, to sideline bulls, confirm reversal and open 1.6730, 50% retracement and 1.6700, round figure, in extension.

Res: 1.6885; 1.6900; 1.6927; 1.6973

Sup: 1.6817; 1.6800; 1.6760; 1.6730

The pair lost traction and fell below 102 support, Fibonacci 38.2% retracement of 101.45/102.35 upleg. This weakens the structure, as hourly technicals turned negative and threatens further downside. On the other side, 4-hour studies are still positive and see possibility for fresh attempt higher that requires 101.79, Fibonacci 61.8% retracement level, to hold. Such scenario sees potential of higher low formation that requires regain of 102.35 high, to confirm and resume near-term bulls off 101.45. Otherwise, fresh push lower and pressure at strong 101.40/20 support zone, with corrective attempts being rejected under 102.35, would be likely near-term scenario.

Res: 102.00; 102.35; 102.78; 103.00

Sup: 101.79; 101.42; 101.31; 101.20

The pair regained positive near-term tone after pullback from 0.9393 high found support at 0.9332 and fresh strength eventually broke above psychological 0.94 barrier, to complete cup and holder reversal pattern. Overall bullish tone sees test of key 0.9460 barrier as likely scenario, as the price action continues to move higher, above main bull-trendline. Clear break above 0.9460 is required to confirm bullish resumption and open psychological 0.9500 barrier next. Corrective dips should not exceed 0.9360, Fibonacci 61.8% of entire rally from 0.9332, to keep bulls in play.

Res: 0.9439; 0.9450; 0.9500; 0.9541

Sup: 0.9378; 0.9360; 0.9345; 0.9332

Res: 1298; 1303; 1306; 1315

Sup: 1290; 1284; 1277; 1273

Res: 1.3700; 1.3729; 1.3773; 1.3800

Sup: 1.3642; 1.3619; 1.3600; 1.3561

Cable remains pressured and continues to move lower, eventually breaking below 1.68 support and posting fresh lows on approach to 1.6700, psychological support. Near-term studies are negative and favor further downside, as bulls on the larger timeframe lost momentum and will be likely sidelined in favor of fresh weakness. Loss of 1.6730/20, 50% retracement of 1.6464/1.6995 upleg / daily 55SMA, is required to confirm. Corrective rallies face immediate barrier at 1.6775/85, ahead of 1.68 zone, while 1.69 lower top and Fibonacci 61.8% of descend from 1.6995, should keep the upside attempts limited.

Res: 1.6785; 1.6800; 1.6829; 1.6873

Sup: 1.6730; 1.6700; 1.6667; 1.6650

The pair lost traction and fell below 102 handle, posting fresh low at 101.66, Fibonacci 76.4 retracement of 101.42/102.35 ascend. Fresh bulls, established on a rally from 101.42 and break above 102 handle, are now on hold, as neart-term studies turned negative. This shifted focus lower for possible retest of very strong 101/40/20 support zone. However, bulls may be revived if fresh recovery attempts emerge above 102 and regain 13 May’s fresh high at 102.35, where rally was capped by daily cloud ****. Otherwise, negative tone would prevail and focus lower boundaries short-term range.

Res: 102.00; 102.15; 102.35; 102.78

Sup: 101.78; 101.66; 101.42; 101.31

The pair’s general positive tone remains in play after probe above 0.94 barrier and subsequent pullback to 0.9360, also Fibonacci 61.8% of 0.9332/0.9407 upleg. Extended consolidation is expected to precede eventual push towards key 0.9460 barrier, 10 Apr peak, to complete corrective phase and resume broader uptrend. Clear break higher to expose 0.9500, round figure resistance and 0.9541, 03 Nov 2013 peak in extension. Only loss of 0.9320 trendline support would delay bulls, while break below key 0.9200 handle is required to bring bears in play.

Res: 0.9383; 0.9400; 0.9460; 0.9500

Sup: 0.9360; 0.9345; 0.9332; 0.9320

Res: 1.3735; 1.3779; 1.3800; 1.3820

Sup: 1.3700; 1.3683; 1.3647; 1.3619

Cable trades in near-term corrective phase off fresh low at 1.6730. Rallies were so far capped by daily 20 SMA, with near-term technicals being in neutral/negative mode. On the other side, larger timeframes’ studies are losing momentum that sees downside risk still in play. Yesterday’s Doji confirm near-term indecision and keeps risk of lower top formation, ahead of fresh weakness. Break below 1.6730 support, also daily 55SMA, to confirm bearish scenario and resume larger bears off 1.6995 towards Fibonacci 61.8% retracement level at 1.6667, with 100SMA at 1.6634 and 1.66, round- figure support seen in extension. Only break above 1.69 barrier would neutralize bears.

Res: 1.6843; 1.6872; 1.6900; 1.6937

Sup: 1.6800; 1.6782; 1.6752; 1.6730

The pair maintains overall negative tone, as weakness off 102.35, recovery rejection level, dented strong supports and short-term **** at 101.40/20 zone. Overall structure is negative and keeps risk towards the downside, with clear break below 101.20 ****, required to confirm. Immediate targets lie at 101.20/00 supports and more significant 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Current consolidation above 101.20 would signal prolonged sideways movements, while only break above 103 barrier would revive bulls.

Res: 101.66; 102.00; 102.11; 102.35

Sup: 101.10; 101.00; 100.74; 100.00

The pair lost ground and fell below 0.9300 handle, after break below initial 0.9330 support and previous consolidation range. Near-term studies lost traction and fell into negative territory that risks further weakness and possible full retracement of 0.9201/ 0.9407 ascend. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation under fresh peak at 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next strong support lies at 0.9154 and marks Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play.

Res: 0.9300; 0.9330; 0.9372; 0.9407

Sup: 0.9250; 0.9226; 0.9200, 0.9154

Res: 1.3725; 1.3735; 1.3779; 1.3800

Sup: 1.3700; 1.3687; 1.3676; 1.3647

Cable trades in near-term corrective phase off fresh low at 1.6730, with fresh strength, developing on lower timeframes. Fresh strength eventually broke above 1.6900 breakpoint, also 61.8% Fibonacci retracement of 1.6995/1.6725 descend, signaling higher low formation and stronger recovery. Daily studies in positive territory, are gaining bullish momentum and support the notion. This opens way towards 1.70 psychological barrier, with corrective actions expected to interrupt. Immediate support lies at previous peak at 1.6860, ahead of 1.6830 and 1.68 breakpoint, loss of which to bring bears back in play.

Res: 1.6937; 1.6973; 1.6995; 1.7041
Sup: 1.6872; 1.6860; 1.6830; 1.6800

The pair maintains overall negative tone, as weakness off 102.35, recovery rejection, eventually broke below strong supports and short-term **** at 101.40/20 zone. The structure is negative overall and keep risk towards the downside, with extension below 101.00, opening immediate target at 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Consolidation actions are expected to precede fresh weakness, with 104.40/60 lower tops, expected to ideally cap. Only break above 103 barrier would revive bulls and shift focus higher.

Res: 101.10; 1.10.20; 101.38; 101.59

Sup: 100.74; 100.60; 100.00; 99.14

The pair maintains negative near-term tone after losing 0.9300 handle, with fresh weakness aiming towards 0.9200 support. Near-term studies are negative and support further weakness for full retracement of 0.9201/ 0.9407 upleg. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation between 0.9200 and 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next strong support lies at 0.9154, Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play. However, overextended conditions of lower timeframes studies, may delay immediate bears, in favor of corrective action, with 0.93 barrier, previous support and Fibonacci 38.2% of 0.9407/0.9215 descend offering the first strong resistance, ahead of 0.9330, Fibonacci 61.8% and previous range floor, where rallies should be limited.

Res: 0.9260; 0.9300; 0.9330; 0.9372

Sup: 0.9215; 0.9200, 0.9154; 0.9100

Res: 1296; 1300; 1305; 1309

Sup: 1285; 1283; 1277; 1273

Res: 1.3725; 1.3735; 1.3779; 1.3800

Sup: 1.3647; 1.3633; 1.3600; 1.3561

Cable maintains overall positive tone, as rally from 1.6730, correction low, probed above 1.69 barrier, with 1.6919, the highest seen so far. Near-term congestion fresh high is under way, with the downside being contained at 1.6855, near 38.2% retracement of 1.6730/1.6919 upleg and price action underpinned by 4-hour 20/55SMA bullish cross. While the latter levels stay intact, fresh upside attempts will remain in play, with the price’s move above 1.6919 and firm break higher, required to resume near-term uptrend from 1.6730 and open Fibonacci 76.4% at 1.6932, ahead of lower top at 1.6973 and psychological 1.7000 barrier in focus. Alternatively, slide below 1.6850 support zone, would delay bulls.

Res: 1.6902; 1.6919; 1.6932; 1.6973

Sup: 1.6874; 1.6855; 1.6825; 1.6800

The pair maintains overall negative tone, as weakness off 102.35, recovery rejection level, broke below strong supports and short-term **** at 101.40/20 zone as well as psychological 101 support. Subsequent bounce to the levels that mark 61.8% retracement of 102.32/100.81 downleg, signal further hesitation at this important support zone. However, the structure is negative overall and will keep risk towards the downside, as long as the price holds below 102 barrier, with clear break below 101.20 ****, required to confirm. Near-term target lies at 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Extension of the current correction above 102 handle, to delay bears for further sideways trading, while only break above the larger range top at 103, would provide relief and open way for stronger recovery.

Res: 101.75; 102.00; 102.11; 102.35

Sup: 101.60; 101.34; 101.10; 100.81

The pair maintains negative near-term tone, with fresh weakness aiming towards 0.9200 support, as the price fell ticks away from this support. Overall picture is negative and looks for further weakness and full retracement of 0.9201/ 0.9407 ascend. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation under fresh peak at 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next supports lie at 0.9172, 200SMA, ahead of 0.9154 Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play. Current correction on overextended conditions of lower timeframes studies, delays immediate bears for corrective action, with 0.93 barrier, previous support and Fibonacci 38.2% of 0.9407/0.9215 descend, offering the first strong resistance, ahead of 0.9330, Fibonacci 61.8% and previous range floor, where rallies should be limited.

Res: 0.9272; 0.9288; 0.9300; 0.9330

Sup: 0.9255; 0.9207; 0.9200; 0.9172

Res: 1.3637; 1.3670; 1.3687; 1.3733

Sup: 1.3625; 1.3611; 1.3600; 1.3561

Cable came under pressure yesterday, after leaving lower top at 1.6880 and fresh acceleration through bull-trendline support at 1.6835, which retraced over 76.4% of 1.6730/1.6919 upleg. Near-term indicators are in the negative territory that keeps risk of full retracement of 1.6730/1.6919 rally and resumption of larger descend from 1.6917, on penetration of 1.6730 higher low. Fresh weakness below 1.6795, main bull-trendline, drawn off 1.6464, 24 Mar low and previous low at 1.6780, confirms the scenario, as daily studies are building up bearish momentum and being supportive.

Res: 1.6813; 1.6832; 1.6880; 1.6902

Sup: 1.6752; 1.6730; 1.6700; 1.6667

The pair remains supported and posted fresh high at 102.13, with consolidative action under way, before fresh attempt higher. Consolidation low at 101.70 zone, reinforced by 20/55SMA’s bullish cross, is expected to hold and maintain positive structure, formed on 4-hour chart, to fulfill minimum requirement for bullish resumption on a break above 102.35, 13May lower top / daily cloud ****. Otherwise risk of lower top forming under 102.35, would remain in play, as daily studies hold negative tone and overall price action being capped by 100SMA, which reinforces 102.35 barrier.

Res: 102.04; 102.13; 102.35; 102.49

Sup: 101.70; 101.63; 101.31; 101.10

The pair holds near recovery highs, but fresh extension higher, seen yesterday, failed to break above initial barriers at 0.9272, recovery high and 0.9283, Fibonacci 38.2% retracement of 0.9407/ 0.9207 descend. Near-term studies remain positively aligned and supportive for further gains through 0.9283/0.9300 barriers, to re-confirm 0.9200 **** and bring bulls back in play for further retracement of 0.9407/0.9207 fall. Break higher to open psychological 0.93 barrier, also 50% retracement and daily cloud **** and 0.9330, previous consolidation range floor and 61.8% retracement. Conversely, slide below 0.9230, recent lows, to bring bears back in play and re-focus 0.92 support.

Res: 0.9276; 0.9283; 0.9300; 0.9330

Sup: 0.9250; 0.9230; 0.9200; 0.9172

Res: 1.3649; 1.3667; 1.3687; 1.3733

Sup: 1.3585; 1.3561; 1.3519; 1.3500

Cable remains under pressure, with near-term price action being in corrective mode after denting psychological 1.67 support. The recovery is so far limited, as the price remains capped by 38.2% retracement of 1.6917/1.6691 at 1.6777, with break here and psychological 1.6800 hurdle, required to open stronger recovery. Key near-term barrier and the first pivot lies at 1.6860, bear-trendline off 1.6995 peak and break here is required to confirm reversal, signaled by Morning Star pattern formation on a daily chart. Otherwise, extension of larger bears off 1.6995 would remain in play, as larger picture remains bearish. Slide below fresh low at 1.6691 is required to confirm scenario and open 1.6667, Fibonacci 61.8% of 1.6464/1.6995 and 1.6600, round figure support, in extension lower.

Res: 1.6760; 1.6776; 1.6800; 1.6835

Sup: 1.6723; 1.6703; 1.6691; 1.6667

The pair continues to consolidate under fresh high at 102.13, with the downside being so far contained by 101.41, near 50% retracement of 100.81/102.13 ascend. Near –term studies are positive, as the price trades near the upper barriers, with break above 102.13, required to signal resumption of recovery rally off 100.81 and open next pivot at 102.35, 13 May peak / near daily cloud ****. Alternatively, failure to clear 102.13, would risk further consolidation, while slide below 101.41, 29 May low and retest of multi-month **** at 101.20, would risk further weakness, with break below low at 100.81/74, 21 May spike low / 04 Feb low, to spark fresh bear-phase and resumption of larger downtrend from 105.43, 02 Jan year-to-date high.

Res: 102.13; 102.35; 102.78; 103.09

Sup: 101.83; 101.67; 101.41; 101.20

Res: 0.9274; 0.9287; 0.9312; 0.9330

Sup: 0.9238; 0.9207; 0.9177; 0.9121

Res: 1.3635; 1.3649; 1.3667; 1.3687

Sup: 1.3585; 1.3561; 1.3519; 1.3500

Cable remains under pressure, with near-term price action in consolidative mode, after corrective attempt off fresh low at 1.6691, ran out of steam at 1.6776, Fibonacci 38.2% retracement of 1.6880/1.6691 descend, reinforced by 55SMA. Failure to break here and psychological 1.6800 barrier, which would open bear-trendline resistance at 1.6850, would fail to complete Morning Star pattern formation and risk fresh weakness as hourly studies are neutral , while larger timeframes studies maintain negative tone. Push below 1.6691 to confirm bearish resumption and open 1.6667, Fibonacci 61.8% / 100SMA next and psychological 1.66 support in extension.

Res: 1.6760; 1.6776; 1.6800; 1.6835

Sup: 1.6723; 1.6703; 1.6691; 1.6667

The pair eventually broke above 102.13 and 102.35 barriers, on a fresh strength that so far tested 76.4% retracement of 103.01/100.81 descend at 102.46. This opens way for final push towards the next pivot at 103 zone, also short-term range top. However, corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally, reinforced by 55SMA and should contain corrective dips. Otherwise, weakness below here and yesterday’s low/ daily 20Sma at 101.74, will be bearish.

Res: 102.49; 102.78; 103.01; 103.75

Sup: 102.13; 102.00; 101.74; 101.41

Res: 0.9279; 0.9291; 0.9312; 0.9330

Sup: 0.9259; 0.9228; 0.9207; 0.9177

The Euro’s recovery attempts off fresh low at 1.3502 remain limited under 1.37 resistance zone, Fibonacci 38.2% retracement of entire 1.3992/1.3502 descend. This keeps the first break point at 1.3730 lower platform intact for now, as overall picture stays bearish. Weaker near-term studies shift focus lower again, as the price returns to the previous **** at 1.36 zone and reversal pattern forming on a daily chart, along with 20/200SMA death-cross, maintaining downside pressure. Daily close below 1.36 handle is required to confirm negative stance for repeated attack at 1.3500/1.3475 breakpoints, loss of which to confirm double-top formation and trigger stronger correction of one-year uptrend from 1.20 zone.

Res: 1.3676; 1.3700; 1.3733; 1.3750

Sup: 1.3580; 1.3561; 1.3502; 1.3475

Cable consolidates recent gains on a recovery rally from 1.6691, trading in a sideways mode under fresh high at 1.6844. As the downside stays protected at 1.6770 zone, also 20/55SMA bull-cross and near-term studies are positively aligned, renewed attempts higher should be favored in the near-term. Break above 1.6844 high to resume recovery and open 1.6880 lower top, ahead of key hurdles at 1.6917/19. However, clearance of main bear-trendline at 1.6830 zone, is seen as minimum requirement to signal bullish resumption.

Res: 1.6830; 1.6844; 1.6880; 1.6900

Sup: 1.6782; 1.6767; 1.6749; 1.6725

Near-term price action is losing ground as the pullback off fresh high at 102.78 extends lower and threatens key near-term support and pivotal point at 102.10. Hourly studies turned negative, while 4-hour indicators are at their midlines. Weakness below 102.10/00 supports, also 50% retracement of 101.41/102.78 upleg , to confirm reversal and allow for stronger correction. On the other side, overall bullish tone, keeps the upside favored, with 102 zone seen as ideal reversal point for fresh attempt at key 103 barrier and resumption of larger up-move from 100.81, 201 May low.

Res: 102.63; 102.78; 103.01; 103.75

Sup: 102.25; 102.10; 101.79; 101.41

The pair's near-term structure remains positive, with the price action heading towards 0.94 barrier, on a rally from 0.92 ****. Extension above the next impotent barrier at 0.9407, is required to confirm reversal and **** formation at 0.92 zone, for eventual push to the key 0.9460 peak. Hesitation on approach to 0.9407 could not be ruled out, with 0.93 support area, seen as ideal reversal point, before fresh attempt higher.

Res: 0.9374; 0.9407; 0.9460; 0.9500

Sup: 0.9350; 0.9333; 0.9318; 0.9300

The Euro remains pressured and returns to 1.35 zone after recovery attempts off fresh low at 1.3502 stalled on approach to 1.37 resistance zone, Fibonacci 38.2% retracement of1.3992/1.3502 descend. This keeps the first break point at 1.3730 lower platform intact for now, as overall picture stays bearish. Weak near-term studies keep focus at the downside, as 20/200SMA death-cross, maintaining downside pressure. Continuation of bear-trend is seen on a break below 1.35 handle and 1.3475 higher low and pivotal support, as break lower will confirm double-top formation and trigger stronger correction of the uptrend from 1.20 zone. However, further consolidation above 1.35 support could be expected as near-term studies approach oversold territory.

Res: 1.3556; 1.3600; 1.3620; 1.3667

Sup: 1.3502; 1.3475; 1.3450; 1.3400

Cable corrects recent gains on a recovery rally from 1.6691, with weakening near-term tone, seen on easing from fresh high at 1.6844, as recovery attempts were capped by main bear-trendline and the pullback extended below 61.8% retracement of 1.6697/1.6844 ascend. Further easing would threaten 1.67 ****, with break here to signal extension on larger downmove off 1.6995 peak and open targets at 1.6666, Fibonacci 61.8% retracement and psychological 1.66 support in extension. The upside so far stays protected at 1.6820, trendline resistance and only penetration here and lower top at 1.6844, would sideline downside risk.

Res: 1.6779; 1.6800; 1.6820; 1.6844

Sup: 1.6736; 1.6700; 1.6666; 1.6600

Near-term price action is losing ground as the pullback off fresh high at 102.78 extends lower and threatens for retest of key near-term support and pivotal point at 102.10. Hourly studies turned negative, while 4-hour indicators are breaking in the negative zone. Weakness below 102.10/00 supports, also 50% retracement of 101.41/102.78 upleg , to confirm reversal and allow for stronger correction. On the other side, overall bullish tone, keeps the upside favored, with 102 zone seen as ideal reversal point for fresh attempt at key 103 barrier and resumption of larger up-move from 100.81, 201 May low.

Res: 102.41; 102.63; 102.78; 103.01

Sup: 102.25; 102.10; 101.79; 101.41

The pair's near-term structure remains positive, with the price action approaching 0.94 barrier, on a rally from 0.92 ****. Extension above the next significant barrier at 0.9407, 14 May peak, is required to confirm reversal and **** formation at 0.92 zone, for eventual push to the key 0.9460 peak. Hesitation on approach to 0.9407 barrier cannot be ruled out, with corrective easing to be contained above 0.93 support area, before fresh attempt higher.

Res: 0.9388; 0.9407; 0.9460; 0.9500

Sup: 0.9362; 0.9330; 0.9318; 0.9300

The Euro remains in near-term consolidative phase above 1.35 support, after previous week’s recovery attempts were capped by falling 55SMA. Weekly close occurred at the lower levels of 1.3511/1.3577 range and keep the near-term structure weak for resumption of larger downtrend from 1.3992 08 May peak. Negative daily studies support the notion, however, overextended conditions may trigger extended consolidation, ahead of fresh leg lower. Break below 1.35 handle to open way for attack at the next significant support at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low, loss of which to complete 1.3475/1.3992 bull-leg and confirm double-top formation for fresh acceleration lower and further retracement. Recovery peak and 38.2% of 1.3676/1.3511 at 1.3577, offers initial resistance, along with 1.3585 lower ****, reinforced by daily Tenkan-sen line, break of which would put bears on hold in favor of stronger recovery. Key near-term barrier lies at 1.3676, 06 June lower high and 38.2% of 1.3992/1.3502, break above which is required to confirm **** and trigger further recovery.

Res: 1.3577; 1.3600; 1.3645; 1.3667

Sup: 1.3520; 1.3511; 1.3502; 1.3475

Cable remains supported and eventually cracked 1.7000 barrier, following acceleration off 1.6736 higher low. Overall positive picture favors fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, consolidative action around 1.70 handle is expected to precede fresh bulls, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.

Res: 1.7009; 1.7041; 1.7100; 1.7150

Sup: 1.6941; 1.6919; 1.6900; 1.6844

Near-term price action has lost ground and extended pullback off fresh high at 102.78 below pivotal 102.10/00 support zone, to find temporary support at 101.59, near Fibonacci 61.8% of 100.81/102.78 upleg and 200SMA. This confirms negative near-term structure and keeps the downside in near-term focus, as brief corrective attempt off 101.59 low was capped by descending 55SMA. False break through 102 handle and return to the levels close to 101.59 low, keep near-term focus At the downside. However, larger picture still holds bullish tone is and while dips stay contained above 101.50/41, 200SMA / 29 May higher low, scope will exist for fresh attempts higher. Regain and daily close above 102 handle is seen as minimum requirement for bullish scenario. Otherwise, slide to short-term range floor at 100.81/74, would be expected in case of fresh weakness below 101.59/41 supports.

Res: 102.12; 102.41; 102.63; 102.78

Sup: 101.70; 101.59; 101.41; 101.20

The pair holds positive near-term structure, as the price underwent consolidative action which was supported at 0.9373, with fresh attempt through 0.94 barrier under way. Eventual push towards the key 0.9460 peak is seen as likely near-term scenario, with break higher to complete short-term corrective phase off 0.9460 and resume larger uptrend off 0.8658, annual low. However, further consolidative action is not ruled out and should be ideally contained above 0.9330/20 support area, 30 May previous peak / 50% retracement of 0.9209/0.9437 upleg.

Res: 0.9437; 0.9460; 0.9500; 0.9550

Sup: 0.9373; 0.9349; 0.9330; 0.9320

The Euro continues to move in consolidative mode above fresh lows at1.35 zone, with near-term structure showing slight improvement, as fresh strength tested the first layer of resistances at 1.3577/85, 38.2% of 1.3676/1.3511 / former lower **** / daily Tenkan-sen line. Improved near-term conditions still require sustained break and daily close above 1.36 barrier to exit the current range and signal stronger rebound towards 1.3676/88, 06 June lower top / 38.2% retracement of 1.3992/1.3501 descend, level that marks the first breakpoint. Otherwise, further sideways movements would be expected in case the price action stays capped under 1.36 handle, with downside risk to remain in play as overall picture is bearish. Loss of 1.35 **** to open the downside break point at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low.

Res: 1.3587; 1.3600; 1.3645; 1.3676

Sup: 1.3555; 1.3529; 1.3511; 1.3501

Cable remains supported and consolidates within narrow range, recent strength which eventually cracked 1.7000 barrier, on acceleration from 1.6736 higher low. Overall positive picture favors fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, extended consolidative action under 1.70 handle is seen likely near-term scenario, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.

Res: 1.7009; 1.7041; 1.7100; 1.7150

Sup: 1.6950; 1.6919; 1.6900; 1.6844

Near-term price action extended pullback off fresh high at 102.78 below pivotal 102.10/00 support zone, to find temporary support at 101.59, near Fibonacci 61.8% of 100.81/102.78 upleg and 200SMA. Triangular consolidation is under way, with hourly studies improving but 4-hour picture still holding negative tone. Unless the price clears 112.12, current consolidation tops, which would allow for stronger bounce, risk of re-visiting 101.59/41 low and extension towards 101.00 and 101.81/74, would remain in play.

Res: 102.12; 102.41; 102.63; 102.78

Sup: 101.70; 101.59; 101.41; 101.20

The pair lost traction and fell to 0.9349, previous low / Fibonacci 38.2% retracement of 0.09209/0.9437, after forming hourly Head and Shoulders pattern. This could be signal of more significant reversal in case the price slides below 0.9349 and attempts below 0.9313, daily cloud top psychological 0.930 support. Negative hourlies and 4-hour indicators attempting below the midlines, support such scenario. However, bullish daily tools see the action limited so far, as larger picture shows the price action entrenched within broader 0.9200/0.9437 range and still holding near-the upper range’s boundary.

Res: 0.9400; 0.9437; 0.9460; 0.9500

Sup: 0.9349; 0.9323; 0.9300; 0.9261

The Euro trades in extended consolidative mode above fresh lows at1.35 zone, with near-term price action being capped under psychological 1.36 barrier. Repeated recovery failure and subsequent quick reversal, keep the price firmly within the range, with weak near-term studies holding downside pressure in play, as larger picture is also bearish. Since no significant changes happened in past few sessions, break of either side of the range is required to open fresh direction. Break below1.35 **** to open the break point at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low and trigger further extension of downmove from 1.3992. Conversely, sustained break and daily close above 1.36 barrier to break out of the current range and signal stronger rebound towards 1.3676/88, 06 June lower top / 38.2% retracement of 1.3992/1.3501 descend.

Res: 1.3549; 1.3587; 1.3600; 1.3645

Sup: 1.3534; 1.3511; 1.3501; 1.3475

Cable maintain overall positive tone after denting psychological 1.70 barrier and consolidates within narrow range. Positive studies favor fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, extended consolidative action under 1.70 handle is seen as likely near-term scenario, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.

Res: 1.6987; 1.7009; 1.7041; 1.7100; 1.7150

Sup: 1.6936; 1.6919; 1.6900; 1.6844

The pair returned to strength and rallied off 101.59 low, breaking above near-term consolidation and testing levels above 102 barrier. As recovery attempt retraced nearly 61.8% of 102.78/101.59 descend, further upside is favored in the near-term. Studies on 4-hour chart broke into positive territory and support the action, which could be delayed by pullback on overbought hourly conditions, with easing to be contained at 102 zone. Fresh strength through 102.32, Fibonacci 61.8% and 102.65, daily cloud top, to confirm bullish resumption and expose key near-term barrier at 102.78, 04 June peak.

Res: 102.30; 102.41; 102.63; 102.78

Sup: 102.10; 102.00; 101.86; 101.70

The pair remains under pressure after yesterday’s acceleration lower extended and posted new low at 0.9325, where the price entered near-term consolidative phase at 50% retracement of 0.9209/0.9437 ascend and daily Kijun-sen line support. Overall negative near-term picture sees the downside favored, with loss of psychological / Fibonacci 61.8% support at 0.93, required to confirm bearish stance and near-term top at 0.9437. Alternatively, bounce above 0.9364/68, yesterday’s lower top and Fibonacci 38.2% of 0.9437/0.9325, would ease immediate bear pressure and trigger stronger recovery.

Res: 0.9344; 0.9368; 0.9400; 0.9437

Sup: 0.9325; 0.9300; 0.9256; 0.9228

The Euro has gained traction and eventually broke above near-term congestion, also taking out psychological 1.36 barrier. The pair so far retraced 61.8% of 1.3676/1.3510 descend, on dollar-negative post-Fed acceleration. Signals of neater **** at 1.35 zone, require confirmation on clearance of 1.3661/76, 20SMA / 06 June lower top, above which stronger correction of 1.3992/1.3502 descend could be anticipated. Near-term studies turned positive and support further upside, however, negative larger picture technicals require caution, in case of stall under 1.3676 and lower top formation.

Res: 1.3645; 1.3667; 1.3676; 1.3722

Sup: 1.3600; 1.3587; 1.3552; 1.3534

Cable maintains overall positive tone and attempts again through psychological 1.70 barrier, after narrow-range consolidation. Positive near-term studies favor eventual break and fresh phase higher, with immediate target at 1.7041, Aug 2009 peak and 1.71 level, seen in extension. Corrective dips to face good supports at previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement, 1.69 support.

Res: 1.7041; 1.7100; 1.7150; 1.7200

Sup: 1.6936; 1.6919; 1.6900; 1.6844

The pair lost traction after Fed and accelerated lower after spiking at 102.35. Fresh weakness retraced 76.4% of 101.59/102.35 upleg, signaling completion of near-term corrective phase and resumption of larger downtrend off 102.78 peak, on a break lower. Negative near-term studies are supportive, however, daily technicals are still in neutral mode and price action being underpinned by 200SMA at 101.54. Clear break here to fully establish bears for retest of psychological 101 support and key levels at 101.81/74, 21 May / 04 Feb lows and larger range floor.

Res: 102.00; 102.30; 102.41; 102.63

Sup: 101.70; 101.54; 101.10; 100.81

The pair enters near-term recovery mode and eases downside pressure after acceleration lower bottomed at 0.9325, 50% retracement of 0.9209/0.9437 ascend, reinforced by daily Kijun-sen line. Swift recovery broke above psychological 0.94 barrier and nearly fully retraced corrective phase from 0.9437, which confirms higher **** formation and signals resumption of the uptrend from 0.92 ****, for eventual retest of key 0.9460 peak, 10 Apr high and two-month range top. Overbought hourly studies suggest consolidation around 0.9437 high, before bulls continue.

Res: 0.9437; 0.9460; 0.9500; 0.9550

Sup: 0.9391; 0.9364; 0.9325; 0.9300

The Euro has ended 10-day recovery phase after yesterday’s rally eventually left 1.36 zone and probed above 1.3642, 19 June peak. Final push is expected to extended corrective leg off 1.35 **** and regain key 1.3676 barrier, 06 June peak. Completion of 1.3676/1.35 bear-phase is required to signal stronger reversal and correction of 1.3992/ 1.3500 descend. Positive tone, prevailing on lower timeframes studies, supports the notion. Break below immediate support and minor higher **** at 1.3636 will face strong support at 1.36 higher **** / 50% retracement of 1.3563/1.3650, where dips should be contained, to keep near-term positive structure intact.

Res: 1.3650; 1.3676; 1.3700; 1.3730

Sup: 1.3600; 1.3582; 1.3572; 1.3563

Cable consolidates the pullback off 1.7061 peak which broke below psychological 1.70 support and found temporary support at 1.6950. Near-term studies hold neutral tone as the price moves within 50-pips range and recovery so far being capped at 1.70, now reverted to resistance and the notion being confirmed by yesterday’s Doji candle. Unless the price clearly breaks above 1.70 hurdle and confirm higher low formation, ahead of renewed attempt higher, risk would exist for fresh weakness through 1.6950, towards downside break points at 1.6920 and 1.6900, loss of which to trigger stronger pullback.

Res: 1.7000; 1.7029; 1.7061; 1.7100

Sup: 1.6950; 1.6920; 1.6900; 1.6836

The pair remains at the back foot and broke below near-term ****s at 101.80/70, to eventually test 101.59, 12 June low/ 200SMA. Weak near-term studies see risk of full retracement of 101.41/ 102.78 upleg, with extension below 102.41 handle, expected to open short-term range floor levels at 101.81/74 for retest. Weakening daily studies support the notion, while only regain of 102.15/18 highs would ease immediate bear pressure.

Res: 101.86; 102.00; 102.18; 102.35

Sup: 101.59; 101.41; 101.10; 101.00

The pair bounces off fresh low at 0.9352, where pullback from 0.9443 peak found footstep at 38.2% of 0.9209/0.9443 ascend. Regain of 0.94 handle firmed hourly studies for possible fresh attempt towards 0.9443, in case the price action sustains break. Also, 4-hour studies are attempting at their midlines and being supportive for further upside action, while price floats above 0.94 handle. Otherwise risk of return to initial 0.9350 support, also trendline support and extension to 0.932 higher ****, would remain in play while the price unable to clearly break 0.94 zone . Overall picture, however, remains bullish and sees scope for further upside after completion of near-term consolidative phase off 0.9443 peak.

Res: 0.9413; 0.9429; 0.9460; 0.9500

Sup: 0.9393; 0.9350; 0.9320; 0.9300

The Euro returned to the positive tone, closing for the week at the weekly high and starting the new week in the same attitude. As the price cracks the previous peak, with linear regression line being broken, scope is seen for final push through 200SMA at 1.3669 and completion of 1.3676/1.3511 descend, break above which to confirm **** at 1.35 zone and trigger stronger correction of larger 1.3990/1.3502 bear-leg. Bullish near-term studies support the notion, with bull-trendline, drawn off 1.3511, offering initial support at 1.3630, ahead of 1.3600, round figure / Fibonacci 38.2% and higher **** / 50% of current rally / linear regression channel support at 1.3580, above which corrective actions should find support.

Res: 1.3652; 1.3676; 1.3700; 1.3730

Sup: 1.3630; 1.3600; 1.3580; 1.3573

Cable maintain overall positive tone and trades near recent peak at 1.7061, in a consolidative action, which is expected to precede fresh rally. Studies are positively aligned and support further upside, however, further hesitation ahead of final push higher cannot be ruled out, as daily studies are extended. Break above 1.7061 to open psychological 1.7100 barrier, with 1.7331, 50% retracement of larger 2.1161/1.3501, 2007/2009 descend, expected to come in near-term focus. Psychological level and higher low at 1.7000, offers initial support, ahead of recent range floor at 1.6950, where the downside attempts should be ideally contained.

Res: 1.7049; 1.7061; 1.7100; 1.7150

Sup: 1.7000; 1.6950; 1.6920; 1.6900

The pair remains under pressure and continues to travel south after losing near-term ****s at 101.80/70 and 101.59, 12 June low/ 200SMA support. Probe below 101.41, 29 May higher low marked full retracement of 101.41/ 102.78 upleg with bearish resumption expected to open psychological 101 support and short-term range floor levels at 101.81/74 for retest. Negative studies on lower and larger timeframes support the notion for final push lower and break below multi-month congestion. Previous supports at 101.59/80 zone, now offer immediate barriers, ahead of lower tops at 102.15/18, which are expected to cap stronger corrective attempts.

Res: 101.48; 101.59; 101.73; 101.86

Sup: 101.10; 101.00; 100.81; 100.74

The pair hovers near fresh high at 0.9443, on recovery rally from 0.9350 higher **** / trendline support, but still unable to clear barrier. Further consolidation is seen likely, as fresh easing weakens hourly studies, before bulls re-assert for eventual push higher and break above near-term congestion, for resumption of larger uptrend, towards 0.9500, initial barrier. Pullback below psychological / Fibonacci 38.2% retracement of 0.9352/0.9439 upleg, confirms scenario, however, dips should be contained above 0.9352, range bottom, to avoid deeper pullback and introduce bears into near-term picture.

Res: 0.9429; 0.9460; 0.9500; 0.9526

Sup: 0.9385; 0.9350; 0.9320; 0.9300

The Euro is at the back foot in near-term price action, with corrective pullback off 1.3699 peak, probeing below trendline support and strong 1.3650 support area, previous highs of 19/25 June and Fibonacci 38.2% retracement of 1.3573/1.3699 upleg. Negatively aligned hourly studies do not rule out further easing, with the notion being supported by traction losing 4-hour technicals. Daily close below 1.3650., with extension below 1.3627/21, double Fibonacci support and attempt at psychological 1.36 handle, to confirm daily reversal pattern and negative stance for stronger correction of the upleg from 1.35 zone. Otherwise, fresh strength through 200SMA at 1.3672 and eventual break above 1.37 barrier, to complete corrective action and higher low formation for fresh extension of bull-leg from 1.35 ****.

Res: 1.3680; 1.3700; 1.3735; 1.3747

Sup: 1.3640; 1.3621; 1.3600; 1.3573

Cable maintains positive tone and continues to trend higher, with break above 1.71 hurdle, confirming strong bullish tone. Completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and approaches round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers. Only extension below psychological 1.7000 level and higher **** at 1.6950, would sideline bulls for stronger reversal.

Res: 1.7175; 1.7200; 1.7250; 1.7300

Sup: 1.7100; 1.7061; 1.7000; 1.6950

The pair regained traction and bounced from dangerous zone after bottoming at 101.22. Fresh strength retraced nearly 76.4% of the slide from 102.15, as the price approaches psychological 102 barrier. Sustained break here to signal further recovery for test of breakpoints at 102.15/35, regain of which to confirm recovery. Studies of lower timeframes are positive and support further upside, however, overbought hourly conditions may delay rally for consolidation. Previous high at 101.64, also Fibonacci 38.2% of the rally from 101.22, reinforced by hourly 55SMA, should hold deeper dips.

Res: 102.00; 102.15; 102.35; 102.63

Sup: 101.74; 101.64; 101.39; 101.22

The pair slumped after fresh acceleration above previous key level at 0.9460 stalled at 0.9503. Resumption of larger upleg off 0.92 higher **** is now sidelined, as fresh bearish acceleration took out important supports and attempts below bull-trendline off 0.9209 low, also higher **** and 50% of 0.9209/0.9503 upleg at 0.9355. With near-term technicals establishing in the negative territory, further weakness and test of the breakpoint at 1.6920, is seen likely. This will also confirm near-term top at 0.9503, ahead of further easing.

Res: 0.9385; 0.9411; 0.9442; 0.9463

Sup: 0.9335; 0.9320; 0.9300; 0.9278

The Euro remains in near-term corrective mode off 1.3573 low and stabilizes above strong 1.36 barrier. As the pair dents important 1.3620/40 resistance zone, further recovery is seen likely. Next targets lay at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 then 1.3662, 03 July lower top / daily cloud **** and 1.3672, 200SMA, regain of which to signal an end of corrective phase by confirming higher low formation at 1.3573 and open key 1.3699 peak for fresh attack. Hourly studies are bullish, with 4-hour structure improving and gaining momentum, which is seen supportive for fresh near-term upside action. Initial support lies at 1.36 zone, ahead of higher low at 1.3586, guarding pivotal 1.3573 support.

Res: 1.3636; 1.3651; 1.3662; 1.3672

Sup: 1.3600; 1.3586; 1.3573; 1.3563

Cable overall picture remains bullish, with near-term price action being in consolidating mode, established within 1.7100/1.7175 range. Near-term studies are neutral, despite brief spike below 1.71 support, as the price recovered ground quickly. Further consolidation is seen as likely near-term scenario, while 1.71 handle stays intact. However, caution is required as long as the price holds at the lower part of the range, as fresh attempt at range’s floor and potential break lower would signal stronger pullback.

Res: 1.7146; 1.7165; 1.7177; 1.7200

Sup: 1.7124; 1.7100; 1.7083; 1.7061

The pair trades in corrective phase and continues to trend lower, after pullback off 102.25 fresh high, lost, lost initial 102 support. Dip to 101.43, over 76.4% retracement of 101.22/102.25 upleg, keeps the downside risk for full retracement of 101.22/102.25 upleg. Negative near-term technicals remain supportive for bearish resumption incase of loss of 101.00. Corrective attempts should stay capped under 102 handle to keep the structure intact.

Res: 101.74; 101.94; 102.19; 102.25

Sup: 101.43; 101.10; 101.00; 100.80

The pair continues to trade in near-term corrective mode after extended weakness off fresh high at 0.9503, found footstep at 0.9327, just ahead of pivotal 0.9320 support. The rally so far retraced 50% of 0.503/0.9327 descend, in attempt to sustain break above psychological 0.94 barrier. Near-term studies improve on recent bounce, with clear break above 0.94 handle, required to confirm recovery, for extension towards 0.9440/60, next strong resistance zone, possibly to re-focus 0.9503 peak, on a break here. Previous consolidation tops at 0.9370 zone, should contain dips, to keep freshly established near-term bulls alive.

Res: 0.9415; 0.9436; 0.9460; 0.9503

Sup: 0.9389; 0.9370; 0.9339; 0.9327

The Euro holds steady and extends recovery off 1.3573 low, approaching barriers at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 and 1.3666, daily Ichimoku cloud ****, ahead of 200SMA at 1.3676, where 55/200SMA death cross in forming. Positive near-term technicals favor further advance and test of these barriers, clearance of which to open pivotal 1.3699, 01 July peak and signal resumption of the uptrend from 1.35 ****. Initial support lies at 1.3635, hourly 20SMA / daily Tenkan-sen line, was cracked, ahead of 1.3619, 38.2% of the rally from 1.3473 and psychological / higher **** support at 1.3600, below which to bring bears fully in play.

Res: 1.3651; 1.3666; 1.3676; 1.3699

Sup: 1.3619; 1.3600; 1.3586; 1.3574

Cable holds overall bullish posture, with near-term price action being in consolidative mode, trading within 1.7100/1.7175 range. Studies on 4-hour chart are neutral, while positive tone prevails on hourly timeframe, after the price rallied, following brief break below 1.71 support. Further directionless trading is seen as likely near-term scenario, while 1.71 handle stays intact. However, overextended daily conditions require caution, as fresh weakness below 1.71 handle would signal stronger pullback.

Res: 1.7166; 1.7177; 1.7200; 1.7250

Sup: 1.7120; 1.7100; 1.7083; 1.7061

The pair has completed near-term corrective phase off 11.43 low, which was rejected at 101.85. Subsequent return to 101.43 level signals fresh weakness, as technicals are weak and see scope for further downside, part of larger downmove off 102.25, 03 July high. Sustained break lower to open psychological 101 support and key levels at 100.81/74, short-term congestion floor. Upside attempts should stay capped under psychological barrier / daily Ichimoku cloud **** at 102.

Res: 101.65; 101.85; 102.00; 102.19

Sup: 101.43; 101.10; 101.00; 100.80

Near-term recovery attempt off 0.9327 low has run out of steam at 0.9454 spike high, with subsequent fresh weakness erasing over 61.8% of entire 0.9327/0.9454 upleg. Sharp reversal weakened near-term structure, as hourly studies turned bearish and 4-hour technicals are losing traction. This would risk return to 0.9327 low, also daily cloud top, for eventual attempt at pivotal 0.9320 support, Fibonacci 61.8% of 0.9209/0.9503 ascend and short-term higher ****, loss of which to confirm top at 0.9503 and trigger further easing.

Res: 0.9390; 0.9429; 0.9457; 0.9460

Sup: 0.9357; 0.9339; 0.9327; 0.9320

The Euro trades in corrective mode off 1.3585 higher **** under formation, where a pullback from1.3649, 10 July peak, found support. The price broke above near-term range, after competing consolidative action, which was holding around 1.36 handle. Fresh rally which reversed over 76.4% of 1.3649/1.3585 downleg, sidelined near-term downside risk and turned immediate focus at the first pivotal barrier at 1.3649. Break here, also Fibonacci 61.8% of 1.3699/1.3574, is required to confirm higher **** at 1.3585 and focus the next key barriers at 1.3699, peak of 01 July 2014, with 55/200SMA death cross at 1.3674, seen as additional protection of 1.3699 hurdle.

Res: 1.3649; 1.3662; 1.3674; 1.3699

Sup: 1.3623; 1.3600; 1.3585; 1.3574

Cable maintains overall bullish structure, with near-term price action being in consolidative mode, which so far holds within 1.7100/1.7175 range. Studies on hourly chart turned negative, as the price holds near-the lower range boundary. Technical of 4-hour chart are neutral, favoring further directionless trading, while 1.71 handle stays intact. However, daily studies, reversing from overbought zone, require caution, as break below 1.71 handle would trigger fresh weakness signal stronger pullback, towards initial 1.7061, previous peak and psychological 1.7000 support.

Res: 1.7149; 1.7166; 1.7177; 1.7200

Sup: 1.7100; 1.7083; 1.7061; 1.7000

The pair consolidates last week’s fresh weakness and extension lower, which probed 101 support area. Overall bearish structure favors eventual break below psychological 101 support and test of key supports and short-term congestion floor levels at 100.81/74, below which to resume larger downtrend off 105.43, 2013 annual high. Corrective actions face initial barrier at 101.43, ahead of 101.55, Fibonacci 61.8% retracement of 101.85/101.05 downleg, where rallies should be ideally capped. Only break above lower high at 101.85 and psychological 102 barrier, would neutralize bears.

Res: 101.43; 101.55; 101.85; 102.00

Sup: 101.20; 101.05; 100.80; 100.74

The pair trades in near-term consolidative and directionless mode, after acceleration from 0.9454 spike high, found support at 0.9359. Near-term technicals are neutral and require lift above 0.9454 barrier, to confirm bullish resumption, supported by overall positive picture and eventual attack at key 0.9503 peak. Alternative scenario sees violation of initial 0.9359 handle and renewed attempt at strong support and higher **** at 0.9320 zone, below which to trigger fresh extension of the pullback from 0.9503.

Res: 0.9407; 0.9429; 0.9454; 0.9503

Sup: 0.9375; 0.9359; 0.9339; 0.9327

The Euro failed to sustain gains off 1.3585 ****, after recovery rally stalled at 1.3639 and subsequent easing returned to 1.36 support zone. With near-term studies losing traction, downside risk increases, as loss of 1.36 handle to expose key supports at 1.3585 higher **** and low of 07 July at 1.3574. Completion of 1.3574/1.3639 corrective phase to signal resumption of larger descends off 1.3699, 01 July peak and possibly open key short-term support and **** at 1.35 zone. On the other side, ability to hold above 1.3585, would signal prolonged consolidation, while establishment of an upside direction requires fresh stretch and regain of 1.3639/49 barriers.

Res: 1.3625; 1.3639; 1.3649; 1.3699

Sup: 1.3600; 1.3585; 1.3574; 1.3559

Cable lost bullish momentum and penetrated below initial 1.71 support and previous consolidation floor. This signals stronger corrective action, off fresh high at 1.7175, with previous top at 1.7061, being tested so far, as the pair aims towards the next target and psychological support at 1.7000. Negative near-term technicals support further easing, as reversal pattern is forming on a daily chart. Corrective rallies to face initial resistances at 1.7088/1.7100 zone, with extended rallies, to be contained by 1.7150 zone.

Res: 1.7088; 1.7100; 1.7120; 1.7134

Sup: 1.7049; 1.7000; 1.6950; 1.6937

The pair moves higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extension higher so far retraced nearly 50% of 102.25/101.05 descend, with positive hourly studies being supportive. However, 4-hour technicals are still weak and require regain of pivotal 101.85/102 barriers to confirm recovery. Otherwise, lower top formation and fresh weakness, in case of stall under 101.85, reinforced by 20/200 death cross, would remain on the table, as overall picture remains bearish and sees potential for final push towards key supports and short-term congestion floor levels at 100.81/74, loss of which to resume larger downtrend off 105.43, 2013 annual high.

Res: 101.65; 101.85; 102.00; 102.25

Sup: 101.51; 101.20; 101.05; 100.80

The pair trades in near-term consolidative mode, with price action holding near the lower consolidation boundary at 0.9359, where acceleration from 0.9454 spike high, found temporary support. Near-term technicals are losing neutral bias, which requires confirmation on a break below 0.9359 handle, to bring bears back in play for return to 0.9320 breakpoint. Alternatively, holding above current supports, will keep the pair in extended consolidative mode, while lift above 0.9454 barrier is required to confirm bullish resumption, for eventual attack at key 0.9503 peak.

Res: 0.9407; 0.9429; 0.9454; 0.9503

Sup: 0.9359; 0.9339; 0.9327; 0.9320

The Euro remains under pressure and left lower top at 1.3639, after fresh acceleration lower probes levels below 1.3585/74 supports. The way towards 1.35 **** and key short-term support, is now open, as fresh weakness retraced nearly 76.4% of 1.3502/1.3699 rally. Bearish near-term studies support the notion, as daily tools are building bearish momentum for eventual completion of 1.3502/1.3699 phase, with probe below 1.35 **** / main bull trendline off 1.2042 and return to another pivotal short-term support at 1.3475, 03 Feb higher low, to complete larger, Feb/May 1.3475/1.3699 ascend. Corrective rallies should find ideal cap at previous supports at 1.3585 and 1.3600, while only sustained break above the latter would delay immediate bears.

Res: 1.3574; 1.3585; 1.3600; 1.3625

Sup: 1.3556; 1.3534; 1.3511; 1.3502

Cable rallied sharply and escaped from dangerous territory, neutralizing downside risk, which started to build up on a break below 1.71 handle. Strong rebound recovered all near-term losses and posted marginally higher high at 1.7189. This brought near-term focus back to the upside levels, for resumption of larger uptrend, being paused by 1.7177/1.7057 corrective phase, with reversal signaled by bullish engulfing pattern. Positively aligned near-term studies and already bullish larger picture, support the notion, however, close above near-term tops is required to confirm.

Res: 1.7166; 1.7177; 1.7189; 1.7200

Sup: 1.7123; 1.7108; 1.7095; 1.7068

The pair continues to move higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extensions retraced over 76.4% of 102.25/101.05 descend, with positive near-term studies being supportive. The price action approaches the lower boundary, previous 09 July high / 200 SMA, of pivotal 101.85/102.00 resistance zone, break of which is required to confirm recovery. However, caution is still required as daily studies are weak and risk of lower top formation will persist while 102 barrier stays intact. Otherwise, break here to open next pivotal barriers at 102.25/35.

Res: 101.75; 101.85; 102.00; 102.25

Sup: 101.62; 101.42; 101.37; 101.20

Near-term recovery attempt lost traction after spiking at 0.9454 and subsequent weakness nearly fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 **** could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.

Res: 0.9376; 0.9407; 0.9429; 0.9454

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro continues to trend lower and looks for retest of key support and near-term target at 1.35 ****, to complete 1.3502/1.3699 ascend. The third wave, which commenced from 1.3649 lower top, met its 100% Fibonacci expansion at 1.3520, where the pair entered consolidative phase, ahead of final push to 1.3502 low. Overall negative structure sees scope for further extension of larger downmove off 1.3699 peak, with the wave expected to extend to 1.3475/70, 03 Feb higher low / Fibonacci 138.2% expansion and 1.3440, 161.8% expansion. Stronger corrective actions should find good barrier at 1.3570, previous lows zone / lower platform / 50% retracement of 1.3639/1.3519 downleg.

Res: 1.3532; 1.3560; 1.3572; 1.3585

Sup: 1.3519; 1.3502; 1.3470; 1.3440

Cable trades in extended corrective phase off fresh high at 1.7189, after strong recovery rally failed to sustain gains above previous high and resume larger uptrend. Further sideways trading, shown on larger timeframes, seems to be likely scenario, as the pair failed to capitalize on 15 July strong rally and change of direction, signaled by outside day candle. Near-term structure is weakening, as the price so far dipped to the levels close to 1.71 support, previous breakpoint and Fibonacci 61.8% retracement of 1.7057/1.7189 upleg. Break here to confirm negative near-term stance and re-focus lower range levels. However, daily structure remains firmly bullish and sees fresh attempts higher favored, once corrective action is over. Fresh low at 1.7057 is expected to hold and prevent the pair from more significant pullback.

Res: 1.7149; 1.7166; 1.7189; 1.7200

Sup: 1.7111; 1.7089; 1.7068; 1.7057

The pair corrects recent rally that peaked at 101.78, with dips being so far contained at 101.44, just above 15 July spike low and 50% retracement of 101.05/101.78 upleg, where corrective actions should ideally reverse. Reversing hourly RSI and positive 4-hour structure supports such scenario and sees scope for eventual attempt through pivotal 101.85, 09 July high / psychological 102 barrier, also daily cloud ****, break of which to confirm bullish resumption and open next breakpoints at 102.25/35. Alternatively, loss of 101.40/30 support zone, current lows and Fibonacci 61.8% / previous consolidation tops, to bring bears back in play for possible return to 101 support zone.

Res: 101.61; 101.78; 101.85; 102.00

Sup: 101.44; 101.33; 101.20; 101.05

The pair remains under pressure as near-term recovery attempt off 0.9327, 03 July low, lost traction after spiking at 0.9454 and subsequent weakness fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 **** could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.

Res: 0.9396; 0.9407; 0.9429; 0.9454

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro consolidates above 1.35 **** / trendline support, which was cracked last Friday, on a spike to 1.3489. Te break was short-lived, with near-term indecision confirmed by double Doji candle. Mixed near-term studies confirm the sideways mode, as hourlies gained some strength and retraced 38.2% of 1.3639/1.3496 descend, while 4-hour structure remains negative. This sees corrective attempts limited, as larger picture remains bearish and favor eventual clear break of pivotal 1.35/1.3475 support zone, to trigger fresh weakness. Former lows that form layers of resistances between 1.3465 and 1.3485, should serve as solid resistances, before the pair commences fresh leg lower. Alternatively, lift above 1.36 handle would delay attempts at 1.35 **** for stronger recovery, with pivotal barriers at 1.3639/49 lower tops.

Res: 1.3538; 1.3563; 1.3575; 1.3585

Sup: 1.3522; 1.3502; 1.3489; 1.3475

Cable holds negative near-term tone, as corrective phase off fresh high at 1.7189, fully retraced 1.7057/1.7189 upleg and extended weakness to 1.7034, fresh low, posted last Friday. This sees scope for fresh attempts lower and test of psychological 1.7000 support, as lower timeframe’s studies turned bearish after false break higher, with corrective rallies seen ahead of fresh weakness and ideally to be capped at 1.7100/10 zone, lower top and 38.2% / 50% retracement of 1.7189/1.7034 descend. Loss of 1.70 handle, also Fibonacci 38.2%, to open way for further retracement of 1.6697/1.7189 upleg.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair maintains overall negative tone after recovery rejection at 101.78 failed to test pivotal 101.85/102 barriers and fresh weakness retested 101.05 low. Downside pressure persists and sees eventual push below psychological 101 support, for test of critical 100.81/74 support, below which to commence fresh bear-leg, resumption of larger downmove off 105.43, 02 Jan peak. Corrective rally was so far capped at 101.43, 50% of 101.78/101.07 descend, with more significant results, requiring break above 101.85/102 hurdles, to sideline overall bears.

Res: 101.43; 101.56; 101.78; 101.85

Sup: 101.18; 101.05; 100.81; 100.74

The pair trades in near-term range mode after upside attempts were limited at 0.94 zone, with the downside being protected strong 0.9320 support and short-term ****, also daily cloud top. Improved near-tem studies on a rally from marginally higher low at 0.9334, keep the price at the upper part of the range, with attempts above 0.94 handle seen in play in the near-ter. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro continues to trade in consolidative mode above 1.35 **** / main bull-trendline off 1.2042 low, strong support which was cracked last Friday, on a spike lower to 1.3489. The pair failed to sustain break and entered narrow–range sideways trade, after limited recovery attempt, being capped at 1.3547, Fibonacci 38.2% retracement of 1.3639/1.3489 downleg. Triple Doji candle confirms near-term indecision. Hourly studies are neutral, while 4-hour structure remains negatively aligned, suggesting further downside as favored scenario, on completion of limited corrective actions. Fresh leg lower requires clear break below 1.35 handle and 1.3475, 03 Feb low, to confirm bearish resumption and enter stronger correction of larger 1.2042, July 2012 low / 1.3992, May 2014 peak. Extended correction above 1.3547, to face strong barrier at 1.3575/85, former lows and Fibonacci 61.8% retracement of 1.3690/1.3489 descend, where rallies should be ideally capped, while break here would delay bears and open key lower tops at 1.3639/49, 14/10 July highs.

Res: 1.3547; 1.3575; 1.3585; 1.3626

Sup: 1.3512; 1.3502; 1.3489; 1.3475

http://mediaserver.fxstreet.com/Repo...0722081015.png

Cable holds negative near-term tone and consolidates losses off 1.7189 peak, which posted fresh low at 1.7034 on 18 July. Upside attempts stay so far limited at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are weak and support further descend. Alternatively, clear break above 1.71 handle to delay bears and confirm prolonged sideways movements.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair extends near-term recovery off 101.05, after leaving higher low at 101.22 and extending above previous high at 101.43. Rally retraced over 61.8% of 101.78/101.05 descend, seeing potential for attempt at the first pivot at 101.78, break of which to confirm double bottom formation and pen way for stronger recovery, which also requires lift above 101.85 lower top / 55/200SMA death-cross. Overbought hourly studies suggest a pause in current rally, with increased downside risk seen on extension below 101.35, 38.2% of 101.07/101.56 / 20/55SMa bull-cross. However, overall negative structure so far sees upside actions limited and downside favored, while 101.85/102.25 barriers stay intact.

Res: 101.56; 101.78; 101.85; 102.00

Sup: 101.43; 101.26; 101.18; 101.05

The pair trades in near-term range mode, with the upside so far being limited at 0.94 zone and the downside protected at strong 0.9320 support and short-term ****, also daily Ichimoku cloud top. Improved near-tem studies on a rally from 0.9334, which left higher low at 0.9358, keep the price at the upper part of the range, with attempts above 0.94 handle seen as favored in the near-term. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9358; 0.9327; 0.9320; 0.9300

The Euro establishes below 1.35 handle and continues to move lower after closing below pivotal support and brief consolidation, which occurred before fresh push lower. Overall bearish structure keeps the downside focused, with immediate target at psychological 1.34 level and 1.3294, 07 November 2013 higher low, seen in extension. Corrective rallies on oversold conditions are expected to pause descend. Consolidative range high at 1.3472, offers immediate resistance, ahead of 1.35, previous **** and broken bull-trendline at 1.3530, while lower top at 1.3547, is expected to cap rallies.

Res: 1.3472; 1.3500; 1.3530; 1.3547

Sup: 1.3436; 1.3400; 1.3350; 1.3294

Cable maintains negative near-term tone and continues extend descend off 1.7189 peak, after breaking below 1.7034 18 July low. Upside attempts were capped at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are bearish and support further downside, with consolidative actions seen preceding fresh push lower. Alternative scenario requires, clear break above 1.71 handle to avert immediate downside risk.

Res: 1.7081; 1.7100; 1.7115; 1.7148

Sup: 1.7020; 1.7000; 1.6950; 1.6933

The pair trades in near-term sideways mode after recovery phase off 101.05 low was limited at 101.59. Repeated upside failure weakens hourly structure, while 4-hour tone is negative. Upside resumption requires lift above initial 101.59 barrier and pivotal lower tops at 101.78/85, to bring bulls fully in play, otherwise increased downside risk could be expected on a loss of initial 101.30 support, also near-term consolidation floor. Break lower to re-focus strong 101.05 and

Res: 101.59; 101.78; 101.85; 102.00

Sup: 101.30; 101.18; 101.05; 100.81

The pair moves higher and eventually broke above 0.9454, 10 July spike high, retracing over 76.4% of 0.9503/0.9327 descend. This opens way for final push towards key 0.9503 barrier and peak of 01 July, clearance of which to signal an end of corrective phase and resumption of larger uptrend. Consolidative/corrective action s on overbought near-term studies are expected to precede fresh push higher, with dips to be ideally contained at 0.94 handle, to keep bulls intact.

Res: 0.9498; 0.9503; 0.9550; 0.9600

Sup: 0.9417; 0.9400; 0.9378; 0.9358

Res: 1.3445, 1.3475, 1.3500

Sup: 1.3315, 1.3340, 1.3365

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