Res: 1.3355; 1.3379; 1.3399; 1.3414

Sup: 1.3300; 1.3272; 1.3260; 1.3232

Cable continues to trend higher and posted marginally fresh high at 1.5672 on Monday, vs Friday’s 1.5655 peak. Positively aligned near and short-term technicals remain supportive for eventual attempt towards key short-term barrier and target at 1.5751,17/06 high, with interim hurdles at 1.5700, round figure and 1.5721, Fibonacci 100% expansion of the third wave of larger upleg from 1.4812 that commenced from 1.5100 higher low. The wave could travel to 1.5958, its 138.2% expansion, once 1.5751 barrier is cleared that will also confirm formation of double-bottom at 1.4830/12 lows. Previous consolidation bottom at 1.5600, offers initial support, along with former high at 1.5573, with key-near-term support, laying at 1.5420 higher platform.

Res: 1.5672; 1.5700; 1.5721; 1.5751

Sup: 1.5607; 1.5576; 1.5538; 1.5517

Near-term recovery rally off 97.04 low has lost traction after failing to hold gains above psychological 98.00 barrier. Rally stalled at 98.11, with subsequent pullback retracing 61.8% of 97.04/98.11 upleg. Weakened near-term studies increase downside risk, with acceleration seen on violation of 97.28, 55DMA and 97.04 support. Conversely, regain of 98.64, 15/08 high, is required to shift focus higher and expose trendline resistance at 99.20.

Res: 97.84; 98.11; 98.64; 98.75

Sup: 97.18; 97.00; 96.40; 96.00

The Aussie dollar came under increased pressure, as failure to clear 0.9220/40 barriers, previous high / daily Cloud ****, triggered fresh weakness that accelerated on a break below 0.9100/0.9057 support zone. Hourly studies are deep in negative territory, with 4-hour indicators breaking below the midlines that keep the downside in near-term focus, as the fall so far reversed 50% of 0.8846/0.9232 upleg. Formation of double-top at 0.9220/32 increases downside risk, with loss of psychological 0.9000 support, required to confirm and expose lower targets at 0.8900/0.8846.

Res: 0.9057; 0.9100; 0.9188; 0.9200

Sup: 0.9000; 0.8971; 0.8918; 0.8900

Res: 1.3450; 1.3482; 1.3500; 1.3518

Sup: 1.3400; 1.3380; 1.3356; 1.3310

Res: 1.5700; 1.5721; 1.5751; 1.5800

Sup: 1.5648; 1.5627; 1.5607; 1.5576

The pair extended near-term downtrend from 98.64 high, with important support at 97.00 being cracked. Fresh weakness tested 96.90, Fibonacci 61.8% retracement of 95.78/98.64 rally, increasing downside risk towards key support at 95.78, 08/08 low. Negatively aligned near-term studies support the notion. Daily close above 97.00 handle, sees scope for corrective action, with rallies expected to be capped under 97.85 peak, to keep the structure intact.

Res: 97.85; 98.11; 98.64; 98.75

Sup: 97.13; 96.90; 96.40; 96.00

The Aussie dollar came under increased pressure, following double-failure at 0.9220/32, where double-top has been formed. Subsequent pullback that broke below near-term **** at 0.9060 zone, retraced over 50% of 0.8846/0.9232 upleg, with further weakness seen likely, as near-term studies remain negative. With 0.9100 barrier capping, fresh extension below 0.9100, round figure support and near Fibonacci 61.8% retracement, would look for test of interim supports at 0.8918/00, en-route towards key near-term support at 0.8846, 05/08 low. Alternative scenario requires regain of minimum 0.9130/50, Fibonacci 50% / 61.8% of 0.9232/0.9026 descend, to avert immediate downside risk.

Res: 0.9057; 0.9100; 0.9131; 0.9200

Sup: 0.9017; 0.9000; 0.8971; 0.8918

Res: 1.3373; 1.3400; 1.3427; 1.3450

Sup: 1.3330; 1.3310; 1.3263; 1.3232

Res: 1.5627; 1.5650; 1.5700; 1.5716

Sup: 1.5576; 1.5500; 1.5480; 1.5420

The pair extended recovery rally from 96.90 low and broke above 98.00 barrier, 61.8% of 98.64/96.90 downleg. Improved hourly conditions see potential for extension towards key near-term barrier at 98.64, 15/08 high. Positive near-term studies support the notion, however, regain of 98.64 barrier is seen as minimum requirement to complete near-term corrective phase and open way for stronger recovery towards 99.00, trendline resistance / 100DMA. Alternatively, upside rejection under 98.64 would signal prolonged sideways trade, with downside risk to revive on possible extension below 97.00 support, as daily studies are negative.

Res: 98.64; 98.75; 99.00; 99.50

Sup: 98.00; 97.60; 97.13; 96.90

The Aussie remains under pressure, as fresh weakness from 0.9220/32 double-top penetrated through 0.9000 support, with daily close occurring below the latter. The price approaches initial targets at 0.8920/00, before final push towards key support, 05/08 low at 0.8846, as negative tone dominates on all timeframes and keeps the bears in play. Corrective rallies should be ideally capped under 0.9100, also near mid-point of slide from 0.9232 to 0.8930.

Res: 0.9000; 0.9045; 0.9081; 0.9100

Sup: 0.8965; 0.8930; 0.8918; 0.8900

The euro achieved an uptrend high of 1.3450 on the 20th of August. Since then we saw a reversal attempt when it fell to 1.3300 on the 22nd. It did manage to recover most of these losses went it went back up to 1.3410. We will remain bullish as long as 1.3300 support holds with targets at 1.3410 & 1.3450. However the opposite scenario would open the way for 1.3300 & 1.3260

Res: 1.3410, 1.3450, 1.3480, 1.3520

Sup: 1.3330, 1.3300, 1.3260, 1.3230

The cable ended its uptrend on the 21st of August when it reached a high of 1.5717, since then we saw a 180 pip drop to 1.5537 which constitutes our main support for today’s session. There was an attempt last Friday to go back to the uptrend but was capped at 1.5635 resistance. Only if it manages to go above this level will we reverse our current bearish outlook on the H1 chart. Sterling is currently trading below the Ichimoku Cloud

Res: 1.5600, 1.5640, 1.5700, 1.5720

Sup: 1.5540, 1.5515, 1.5490, 1.5420

We do have a couple of bad signals for the current uptrend on the Yen. We have a triple top reversal pattern at 99.10, prices are trading outside the upward channel and its currently testing 55 moving average. If it does drop below the 55 Exponential moving average on the H1 chart it will be our final confirmation of the uptrend reversal. Or the same could be said if we see a break below 98.40 support.

Res: 98.80, 99.15, 99.35, 99.55

Sup: 98.40, 98.10, 97.85, 97.30

The Aussie reached a low of 0.8930 on the 22nd of August. In the same day it went up to 0.9040 and since then has not been able to break that resistance getting stuck in range mode. So a good signal for the bulls is if we see 1 or 2 candle closing on the H1 chart above this level. The RSI is moving horizontally which means we have weak momentum on both the buy and sell side

Res: 0.9040, 0.9100, 0.9130, 0.9150

Sup: 0.8970, 0.8930, 0.8900, 0.8850

A key level we are watching today is 1400 psychological resistance level. Gold managed to rise above this level during today’s trading (reaching 1407) however as we always say we need to see 1 or 2 candles close above this level to be sure it broke it and not just be a failed attempt. The precious ****l found support at 1390 shortly afterwards.

Res: 1400, 1407, 1415, 1425

Sup: 1390, 1378, 1368, 1355

Euro failed to break or even test any support or resistance levels during the previous session. It spent most of the time trading in a tight 30 pip range between 1.3390 and 1.3360. So the bullish outlook remains as long as trading stays above 1.3330 with the same targets at 1.3410 & 1.3440. Momentum indicators RSI, MACD give no signals which means the bullish outlook is weak. German ifo Business Climate is the figure to watch out for today for the EURUSD at 8:00am GMT

Res: 1.3410, 1.3450, 1.3480, 1.3520

Sup: 1.3330, 1.3300, 1.3260, 1.3230

Overall we saw narrow trading within a 40 pip range, however there was an attempt to break the 1.5600 level. It did manage to rise above it reaching 1.5610, but the candle on the H1 failed to close above 1.5600 resistances so we will consider it a false break and that resistance still valid. We see here the same scenario as the euro were momentum indicators show weak momentum on both the buy and sell side, which may continue today with lack of figures from the UK

Res: 1.5600, 1.5640, 1.5700, 1.5720

Sup: 1.5540, 1.5515, 1.5490, 1.5420

Strong moves on the Yen, continuing its downtrend breaking 98.40 supports and falling further to test 98.10. The first attempt failed to show a candle closing below that support and we saw a subsequent rise. It currently dropped back to that level and is testing it again. Although now it’s trading below 98.10t, we won’t consider it broken until it trades for some time below it proving the market is comfortable breaking that support and not just another failed attempt

Res: 98.40, 98.80, 99.15, 99.35,

Sup: 98.10, 97.85, 97.30, 97.55

The Aussie breaks 0.8970 support and looks heading to test 0.8930. However we might see a brief retracement before that happens. It’s important to note that 0.8930 will be a much more difficult barrier for it to pass, as it is the low of the previous downtrend that ended on the 2nd of August. Moving averages 20 & 55 plus momentum indicator RSI(14) point down.

Res: 0.9040, 0.9100, 0.9130, 0.9150

Sup:, 0.8930, 0.8900, 0.8845, 0.8800

EURUSD

Again we see a failure to break any support or resistance levels during the previous session. There was 2 attempt to break 1.3330 support, first time dropping to daily low 1.3322 and second time to 1.3327, however in both cases the candle on the H1 chart failed to close below 1.3330 support making it a failed attempt instead of a genuine break. This means the outlook remains the same and no change to any support or resistance levels.

Watch out for US pending Home Sales m/m at 2:00pm GMT which is expected at 0.2% an improvement on the previous reading of -0.4%

Res: 1.3410, 1.3450, 1.3480, 1.3520

Sup: 1.3330, 1.3300, 1.3260, 1.3230

Strong downward momentum for the Sterling, we saw it break 2 supports (1.5540 & 1.5515) and continued to drop to test the 3rd support at 1.5490. It did manage to achieve a daily low below that level at 1.5480 however the candle on the H1 chart did not close below it so we will consider it just a test and not a break, so the support still holds. Sterling retraced up 75 pips later on and now looks like it’s going for another shot at the 1.5490 support

Res: 1.5555, 1.5600, 1.5640, 1.5700,

Sup: 1.5490, 1.5420, 1.5375. 1.5300

The previous session was a big losing day for USDJPY, with the daily range between high and low at 155 pips. This steep drop broke all 4 previously mentioned supports 98.10, 97.8, 97.55 and 97.30. A strong achievement for just 1 day. It achieved a trend low of 96.80 which will be our first support level for today, since that low USDJPY took a brief break retracing 60 pips back up to 97.40 during today’s early trading. Japan's Nikkei ends down 1.5% at 13,338.46

Res: 97.40, 97.70, 98.00 98.40

Sup: 96.80, 96.40, 96.00, 95.80

After 2 previous failed attempts to break 0.8930 support, the Aussie finally did earlier today and continued its fall to test next support at 0.8900, which is also today’s daily low. We saw a 30 pip retracement afterwards which is usually expected. The current downtrend for AUDUSD on the H1 chart is from 0.9070 (26th August) to 0.8900. The outlook will remain bearish today as long as trading stays below 0.9030 with a revisit of 0.8900 and further fall to 0.8845 as our targets

Res: 0.9000, 0.9040, 0.9100, 0.9130

Sup:, 0.8900, 0.8845, 0.8800, 0.8769

Gold has seen 4 consecutive sessions of gains and today appears to continue this trend. It found no problem breaking our 3 resistances 1407, 1415 and 1425 to achieve a current uptrend high at 1433. Gold futures declined early Wednesday, with the safe-haven asset taking a breather after surging into a bull market on concerns about military action against Syria. Only a drop back below 1400 will we reverse our current bullish outlook

Res: 1433, 1445, 1455, 1490

Sup: 1413, 1405, 1390, 1370