The Euro trades in triangular consolidation, with near-term tone in neutral mode and the pair lacking direction. The price moves within 1.24/1.25 range, as repeated attempts higher were capped at 1.25 zone, reinforced by 4-hour 55SMA. Also, failure to clear descending daily 10SMA, keeps the downside at risk and limits upside attempts. Break above initial 1.25 barrier to open breakpoints at 1.2532/76, clearance of which is required to establish near-term bulls. Otherwise, easing below 1.2400/1.2390 support, is expected to bring bears back to play, for retest of 1.2357 low and resume larger downtrend on a break lower.

Res: 1.2488; 1.2500; 1.2532; 1.2576

Sup: 1.2417; 1.2392; 1.2357; 1.2300

Cable turned bearish in near-term picture, after yesterday’s extension of corrective rally from 1.5788 was rejected at 1.5940 and subsequent sharp reversal dipped below previous low at 1.5788. Yesterday’s close in long red candle shows strong downside pressure after unsuccessful attempt to return to pivotal 1.6000/20 barrier. Resumption of larger downtrend bring short-term targets at 1.5750, June 2013 high and 1.5720, Fibonacci 61.8% of larger 1.4812/1.7189 ascend in play

Res: 1.5788; 1.5833; 1.5870; 1.5900

Sup: 1.5750; 1.5720; 1.5700; 1.5675

The pair trades in extended consolidative phase under fresh high at 116.09, posted on 11 Nov. Pullback was so far contained at 115 zone, also 50% of 113.84/116.09 upleg. Overall bullish structure favors further upside, with extension above 116.09 to open near-term targets at 117.95, Oct 2007 high and 120.12, Fibonacci 61.8% of long-term 147.68/75.55 descend. Alternative scenario requires easing below pivotal 114 support, to sideline bulls for stronger correction.

Res: 115.87; 116.09; 116.21; 116.62

Sup: 115.41; 115.00; 114.88; 114.62

The pair continues to trade in near-term uptrend from 0.8539 low of 07 Nov, with 0.8743 high being reached so far, on attempts through 0.8725/30, daily 20SMA / Kijun-sen line and 50% retracement of 0.8909/0.8539 descend. Consolidative action is expected to precede fresh attempt higher and attack at pivotal 0.8760 lower platform / near Fibonacci 61.8% retracement, clearance of which to possibly open key 0.89 resistance zone. Current consolidation floor and Fibonacci 38.2% of 0.8539/0.8743 upleg at 0.8660 should ideally hold, to prevent deeper pullback towards 0.8641, 50% and 0.8617, 61.8%. Extension below 0.8600/0.8590, to bring bears fully in play.

Res: 0.8760; 0.8800; 0.8822; 0.8850

Sup: 0.8700; 0.8665; 0.8641; 0.8617

The Euro remains supported in the near-term, as last Friday’s acceleration left higher **** at 1.24 zone and cracked pivotal 1.2576 barrier. Sustained break here and 1.2590, bear-trendline off 1.2884, 5 Oct daily lower top, is required to confirm near-term bottom at 1.2357 and open way for further recovery. Positive daily and weekly closes, along with existing daily RSI/MACD bullish divergence support the notion. Daily Kijun-sen line and 50% retracement of 1.2884/1.2357 downleg at 1.2621, marks immediate resistance, ahead of 1.27 zone, daily cloud **** and next pivotal barrier at 1.2763/69, 28/29 Oct lower tops. Corrective actions cracked 1.2500/1.2490 support zone, previous consolidation tops and near 50% of 1.2397/1.2576 upleg, signaling deeper pullback, which should be contained above 1.24 ****.

Res: 1.2520; 1.2545; 1.2576; 1.2590

Sup: 1.2480; 1.2465; 1.2425; 1.2400

Cable maintains negative tone after last week’s acceleration broke and closed below 1.5720, Fibonacci 61.8% retracement of larger 1.4812/1.7189 ascend. Fresh weakness probed levels below 1.56 handle, where temporary support was found. Subsequent bounce, signaled by Friday’s Hammer, suggests corrective action, ahead of fresh weakness, which targets 1.5385/75, 100% expansion of the third wave from 1.6522 / Fibonacci 76.4% of 1.4812/1.7189 ascend. Corrective rally was for now limited at 1.5734, keeping the next strong barrier at 1.58 zone, Fibonacci 61.8% of 1.5939/1.5591 / daily Tenkan-sen line, out of reach, for now.

Res: 1.5670; 1.5700; 1.5734; 1.5765

Sup: 1.5618; 1.5600; 1.5590; 1.5550

The pair corrects fresh strength which cracked psychological 117 barrier. Pullback was so far contained at 115.44, 50% of 113.84/117.03 upleg, with fresh attempts higher expected to follow, as bulls remain firmly in play on all timeframes. Sustained break above 117 barrier to open targets at 117.95, Oct 2007 peak and 120, psychological barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend. Near-term structure would weaken more significantly in case dips violate 115 zone, Fibonacci 61.8% / higher low of 12 Nov, which marks the last strong support on the way to pivotal 114 support zone.

Res: 116.00; 116.30; 116.81; 117.03

Sup: 115.44; 115.06; 114.88; 114.62

The pair holds positive tone and hit levels close to psychological 0.88 barrier, after eventual break above pivotal 0.8760 lower platform. Last Friday’s positive close, with daily candle’s longer lower shadow, signaling fresh bulls, as weekly close also occurred in green. Sustained break above 0.88 barrier to resume bulls and look for the next strong barrier at pivotal 0.89 zone, lower platform. Corrective actions should find good support at 0.87 zone, Fibonacci 38.2% of 0.8539/0.8794 rally, with extended easing expected to be contained above 0.8646 higher low, to keep near-term up-trend from 0.8639 intact.

Res: 0.8794; 0.8822; 0.8850; 0.8880

Sup: 0.8744; 0.8700; 0.8670; 0.8650

The Euro failed to sustain Friday’s gains and clear pivotal 1.2576/93 barriers, 04 Nov lower top / bear-trendline off 1.2884 and reversed back to 1.2420 zone, Fibonacci 76.4% retracement of 1.2397/1.2576 rally. Near-term technicals weakened on a pullback, however, 4-hour cloud ****, which contained dips, keeps near-term price action supported for now, guarding key supports at 1.2415, bull-trendline off 1.2357 low and1.24 zone higher ****. Bounce through 1.25 barrier, previous range tops and 50% of 1.2576/1.2442 downleg, is required to bring near-term bulls back to play, for renewed attempt higher. On the other side, larger picture bears were reinforced by yesterday’s long red candle and keep the downside at risk. Violation of 1.2440 to open 1.2400 ****, below which would signal an end of corrective phase from 1.2357, 07 Nov low.

Res: 1.2480; 1.2506; 1.2525; 1.2546

Sup: 1.2442; 1.2415; 1.2400; 1.2357

Cable trades in near-term consolidative phase off 1.5591, 14 Nov fresh low, which was so far capped by descending 4-hour 20EMA at 1.5734. Weak near-term studies do not see much of an upside potential for now, as yesterday’s close in red, with long upper shadow of daily candle, neutralized Friday’s Hammer reversal signals. Further consolidative action is expected to precede fresh leg lower, which is expected to target 1.5375, Fibonacci 76.4% of 1.4812/1.7189 ascend. Alternative scenario requires extension above 1.58 barrier, Fibonacci 61.8% of 1.5939/1.5591 descend, to delay downside attempts. Key resistance and breakpoint lies at 1.5940 lower platform.

Res: 1.5690; 1.5734; 1.5765; 1.5805

Sup: 1.5618; 1.5591; 1.5550; 1.5500

The pair trades in consolidative phase off fresh high at 117.03, which was signaled by yesterday’s Doji. Hourly studies regained traction, as bounce from pullback’s low at 115.44, where hourly double-bottom was left, retraced over 76.4% of 117.03/115.44 reversal and created a higher **** at 116.40. This supports fresh attempts at 117.03 barrier, to resume larger uptrend towards next targets at 117.95, Oct 2007 peak and 120, psychological barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend. However, prolonged consolidative action should be anticipated, ahead of Japan Government’s news announcement, with 116.40/00, offering good supports. Only loss of 115.44/00 support zone, would revive near-term bears.

Res: 116.77; 117.03; 117.50; 117.95

Sup: 116.40; 116.00; 115.44; 115.00

The pair reversed from fresh recovery high, just under psychological 0.88 barrier and found support at 0.87 zone, also 38.2% retracement of 0.8539/0.8794 corrective rally. Near-term structure remains positive, as pullback was contained above bull-trendline, drawn off 0.8539 low, with daily RSI/MACD bullish divergence, supporting fresh attempts higher. However, yesterday’s close in red warns of recovery attempt stall, as the price failed to close above cracked pivotal barrier at 0.8760. Break and close below 0.87 handle, also trendline support, would confirm reversal and expose next pivot at 0.8646, 14 Nov higher low.

Res: 0.8762; 0.8794; 0.8822; 0.8850

Sup: 0.8693; 0.8666; 0.8646; 0.8636

The Euro regained positive tone in the near-term picture, following yesterday’s positive close, which occurred above 1.25 handle. Bounce from 1.2442 hourly higher ****, peaked at 1.2544, Fibonacci 76.4% of 1.2576/1.2442 upleg, capped by descending daily 20SMA and bear-trendline off 1.2884 peak. Daily MACD/RSI bullish divergence still signals further upside which requires sustained break above the trendline resistance and 1.2576, 04/17 Nov peaks, to spark stronger recovery. Otherwise, prolonged range-trade, with downside risk seen on violation of 1.25 support, could be expected in the near term.

Res: 1.2546; 1.2576; 1.2610; 1.2683

Sup: 1.2510; 1.2480; 1.2442; 1.2425

Cable came under pressure and fully reversed 1.5591/1.5734 corrective rally, on renewed probe below 1.56 handle. Negative tone prevails on all timeframes and favors eventual clear break below 1.56, to open way towards next target at 1.5375, Fibonacci 76.4% of 1.4812/1.7189 ascend. However, hesitation at psychological support cannot be ruled out, as near-term studies are approaching oversold territory. Rallies through initial 1.5700 barrier, to face strong resistance at 1.5734, corrective peak and just above 38.2% retracement of 1.5939/1.5591 descend. Only break here and 1.58 barrier, also 61.8% of 1.5939/1.5591 descend, would delay and signal near-term **** formation.

Res: 1.5700; 1.5734; 1.5765; 1.5800

Sup: 1.5623; 1.5590; 1.5550; 1.5500

The pair remains firm and posts fresh multi-year highs, after clearing psychological 117 barrier. Yesterday’s positive close, with past two days candles with longer lower shadow, confirm strong bullish tone, which focuses immediate target at 117.95, Oct 2007 peak and psychological 120 barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend, expected to come in near-term focus, previous peaks at 117 zone, offer immediate support, with 116.30/00 zone expected to ideally contain dips.

Res: 117.95; 118.50; 119.00; 119.60

Sup: 117.00; 116.80; 116.30; 116.00

The pair remains under pressure and probes below 0.8646/36 higher low / 61.8% retracement of 0.8539/0.8794 corrective rally, after completion of hourly H&S pattern. Negative near-term structure favors further weakness for full reversal of the rally, seen on clear break below 0.8636. Next supports lay at 0.86, round-figure and 0.8589 trough, below which way opens towards key 0.8539, 07 Nov low. Yesterday’s positive close so far looks like a pause in the downmove and only daily close above 0.8745 lower platform would sideline immediate downside risk.

Res: 0.8646; 0.8680; 0.8700; 0.8745

Sup: 0.8620; 0.8600; 0.8589; 0.8539

The Euro averts immediate downside risk, on a bounce from 1.2360 lows, where double-bottom is under formation and offering solid support for now. Yesterday’s positive close signals possible stronger recovery attempts, however, bounce stays for now capped under initial barrier and first breakpoint at 1.2450, broken bull-channel support / Fibonacci 38.2% of 1.2597/1.2360. Break here to open 1.2480, 50% retracement / daily Tenkan-sen line and psychological / Fibonacci 61.8% barrier at 1.2500, above which to confirm recovery. Hourly indicators are struggling above the midlines, while negative tone prevails on a larger timeframes and sees limited upside action for now. Unless the price returns above 1.25 barrier, which would expose pivotal 1.26 barrier in the near-term, prolonged consolidative phase is expected to precede fresh attempts lower. Break below 1.2360 **** to resume broader downtrend and look for key targets at 1.2100, trendline support and 1.2042, low of 24 July 2012.

Res: 1.2450; 1.2480; 1.2500; 1.2541

Sup: 1.2414; 1.2395; 1.2372; 1.2360

Cable remains in extended consolidation above fresh lows at 1.5590, with current range tops being reinforced by descending 4-hour 55EMA. Yesterday’s Outside Day, along with crack of initial dynamic barriers of the daily chart, 10SMA and Tenkan-sen line, would mark near-term **** and signal stronger recovery. Today’s close above congestion tops at 1.5735, is seen as minimum requirement to spark corrective action. Regain of the next significant barrier at 1.58, Fibonacci 61.8% of 1.5939/1.5588 downleg, to confirm and open pivotal 1.5939, lower top. However, caution is required as near-term studies show improvement but larger picture remains bearish. Repeated failure at range ceiling, to signal prolonged consolidation, with downside risk in play.

Res: 1.5712; 1.5735; 1.5765; 1.5805

Sup: 1.5646; 1.5624; 1.5590; 1.5550

Near-term structure weakened, as recovery attempts off 117.33 low, where the pair attempts higher ****, failed to sustain gains above 118.35 lower tops and subsequent weakness increases risk of fresh attack at 117.33. The price probes below hourly cloud **** at 117.75, the last significant support ahead of 117.33, below which to complete hourly failure swing for stronger pullback, as daily studies are overbought. Sustained break below 117.33 to open 117.10/00, daily Tenkan-sen line / psychological support, with 116.51, Fibonacci 38.2% of 112.56/118.96 ascend, in extension. Alternative scenario requires break above 118.56, overnight’s recovery rejection, to re-focus pivotal 118.96 top.

Res: 118.20; 118.56; 118.71; 118.96

Sup: 117.68; 117.33; 117.10; 117.00

AUDUSD Near-term structure turned bearish after the pair completed 5-day corrective rally from 0.8564 to 0.8720. Return to 0.8564 low, also cracked near-term bull-trendline, connecting 0.8539/0.8564 lows, exposing pivotal 0.8539 support, 07 Nov low. Yesterday’s close in red confirms negative stance for eventual completion of 0.8539/0.8794 correction. Break lower to signal an end of near-term consolidative phase and resumption of larger downtrend, towards next targets at psychological 0.8500 level and 0.8460, bear-trendline, connecting 2008 peak at 0.9848 and Jan 2014 low at 0.8658.

Res: 0.8568; 0.8600; 0.8618; 0.8660
Sup: 0.8500; 0.8460; 0.8441; 0.8400

The Euro accelerated from 1.2440 trough and eventually broke above 1.25 barrier. Rally spiked at 1.2530, however, subsequent consolidation was not able to hold 1.25 handle, where the pair closed yesterday. Corrective pullback should be contained at 1.2440 higher low, to keep the structure intact for fresh attempts through 1.25 barrier. Completion of Three White Soldiers reversal pattern and break above 1.2480, daily 10/20SMA’s bull-cross / daily Tenkan-sen line, requires close above 1.25, to confirm reversal and resume recovery rally towards next barriers at 1.2545, bear-trendline, drawn off 1.2884 peak, then 1.2563, daily Kijun-sen line, ahead of breakpoint at 1.2597, 19 Nov lower top of larger descend. Conversely, extension of pullback from 1.2522 high and close below 1.2440 higher low / 50% retracement of 1.2360/1.2530 upleg, to sideline near-term bulls and mark top at 1.2530.

Res: 1.2500; 1.2530; 1.2545; 1.2563

Sup: 1.2465; 1.2440; 1.2400; 1.2371

Cable broke above near-term range tops and cracked important 1.58 barrier, psychological level / Fibonacci 61.8% of 1.5939/1.5588 downleg / daily 20SMA. Corrective action off fresh high at 1.5823, is under way and should be ideally contained at 1.5735, Former range tops / Fibonacci 38.2% of 1.5588/1.5823 upleg, while extension below 1.5700 support, 50% retracement, reinforced by daily Tenkan-sen line, would undermine near-term bullish structure. Fresh attempts above 1.5800/23 barriers, to open 1.5884, daily Kijun-sen line, for possible full retracement of 1.5939/1.5588 bear-leg, on extension.

Res: 1.5776; 1.5800; 1.5823; 1.5856

Sup: 1.5745; 1.5735; 1.5700; 1.5678

Near-term structure remains weak and the pair cracked **** at 117.33, following recovery rejection at 118.56 and subsequent descend. Repeated close in red suggests further weakness, which requires close below 117.33/20, previous **** / daily Tenkan-sen line / daily 20SMA, to be confirmed. Fresh extension of the pullback from 118.96 peak, to look for 116.80, 4-hour cloud ****, then 116.51, Fibonacci 38.2% of 112.56/118.96 ascend, below which, acceleration towards 115.44 trough, could be expected. Corrective rallies should be ideally capped under 118 barrier, just above mid-point of 118.56/117.25 downleg.

Res: 117.56; 117.75; 118.00; 118.28

Sup: 117.20; 117.00; 116.80; 116.51

AUDUSD The pair bounces after break below key 0.8539 support, also probed below psychological 0.85 level. However, yesterday’s positive close could be a signal of stronger recovery, in case the price returns above 0.8636, daily Tenkan-sen line and 50% of 0.8794/0.8784. Further recovery and close above 0.8700, daily Kijun-sen line, to confirm false break and re-focus pivotal 0.88 barrier. Otherwise, corrective rally is expected to leave lower top, ahead of fresh weakness, as overall picture remains bearish and keeps short-term focus at the downside.

Res: 0.8636; 0.8565; 0.8700; 0.8720
Sup: 0.8561; 0.8528; 0.8511; 0.8478