The Euro consolidates within 1.3540/90 range, after pullback from 1.3645 peak found support at 1.3540, Fibonacci 61.8% retracement of 1.3476/1.3645 upleg. Hourly studies are weak, while 4-hour RSI holds in the neutral area; MACD just above the midline and loss of momentum maintains the downside risk. However, the downside is for now protected by ascending 55DMA, currently at 1.3543 that makes initial support, ahead of range floor at 1.3540, while sideways-moving 20DMA at 1.3572 limits upside attempts, ahead of range top at 1.3590. Break of either side to define near-term direction, with 4-hour bearish divergence, seeing more downside risk. Bearish resumption requires break below 1.3540/00 supports to open way for further correction, while alternative scenario sees break above 1.3600 barrier, needed to neutralize near-term bears.

Res: 1.3590; 1.3600; 1.3630; 1.3645

Sup: 1.3555; 1.3537; 1.3500; 1.3460

Cable corrects recent losses that found support at important 1.6000 zone, with rally being so far capped at 1.61 zone, also Fibonacci 38.2% retracement of 1.6259/1.6005 decline. Slightly improved hourly studies still lack momentum for further recovery, as bears dominate on 4-hour studies and price action being limited by 20/55DMA’s bearish crossover. Downside risk remains in play and sees potential for further corrective easing, with slide below 1.6000 handle, expected to open next supports at 1.5940, 24/09 higher low and Fibonacci 38.2% of 1.5427/1.6259 rally and psychological 1.5900 support. Break here to signal near-term top at 1.6259 and allow for deeper pullback of larger 1.4812/1.6259 rally that would also put aside near-term targets at 1.6300/80. Regain of 1.6180/1.6200 barriers is required sideline downside risk and signal higher low formation.

Res 1.6100; 1.6133; 1.6162; 1.6199

Sup: 1.6060; 1.6024; 1.6005; 1.5980

The greenback remains at the back foot against the yen, as confirmed break below 97.00/96.80 supports, heads towards the next significant level at 95.78, 08/08 low. The price action cracked 200DMA at 96.70, with losses being so far contained by broken bear-trendline and previous channel resistance, drawn off 101.52 peak. Corrective bounce above 97.00 barrier, triggered by oversold near-term studies, should not have stronger impact, as structure remains negative and keeps the downside favored. Immediate barriers lay at 95.47, and 4-hour 55DMA at 97.70, with rallies to be ideally capped at 98.00/50 zone, to maintain negative sentiment.

Res: 97.21; 97.47; 97.70; 98.00

Sup: 96.55; 96.00; 95.90; 95.78

Near-term focus shifts higher, as the price extends rally from 0.9280 near-term **** and approaches pivotal 0.9455 barrier, on a renewed attack. With hourly studies moving out of neutral mode and 4-hour indicators, being in positive territory, near-term scenario favors further bulls and eventual attempt at key barrier at 0.9526, 18/09 peak. However, clearance of 0.9455, is seen as initial requirement. Otherwise, prolonged consolidation above 0.9280, would the likely scenario.

Res: 0.9457; 0.9500; 0.9526; 0.9550

Sup: 0.9410; 0.9389; 0.9368; 0.9350

The Euro fell to the near-term range floor at 1.3540 zone, reinforced by 4-hour Ichimoku cloud top, after repeated failure at 1.3600 barrier triggered quick pullback. Having cracked 4-hour 55DMA that so far protected the downside, the pair risks further easing, as hourly studies are negatively aligned and 4-hour indicators breaking into negative territory. The initial trigger will be loss of 1.3540 that would open way towards 1.3500 and more significant 1.3460 higher platform, below which to confirm reversal and near-term top at 1.3645. Alternatively, holding above 1.3540, would signal prolonged sideways movements, with only break above 1.3600, required to shift near-term focus higher and re-expose key 1.3645 peak.

Res: 1.3562; 1.3583; 1.3600; 1.3630

Sup: 1.3544; 1.3537; 1.3500; 1.3460

Cable’s near-term recovery attempt off 1.6005 low failed of repeated attack at 1.6123, yesterday’s high and immediate reversal brought the price the mid–point zone of entire 1.6005/1.6123 rally. With hourly indicators sliding below the midlines, as price action establishes below hourly 20/55DMA’s bearish crossover, as well as negative 4-hour structure, immediate risk is seen on renewed attempt at 1.6000 ****. Break here to confirm formation of the double-top at 1.6123/21 and the third wave of the downmove from 1.6259 that could extend to 1.5955, 24/09 higher low and Fibonacci 61.8% expansion. Alternative scenario requires clearance of 1.6121/23 peaks, as well as 50% retracement of 1.6259/1.6005 descend at 1.6132, to ease immediate bear-pressure and allow for further recovery.

Res 1.6085; 1.6100; 1.6123; 1.6132

Sup: 1.6024; 1.6005; 1.5980; 1.5955

The pair trades in near-term corrective mode off fresh low at 96.55, where broken bear-trendline from 101.52 and previous channel resistance, contained losses for now. The price action regained important 97.47 lower high of 04/10, extending the upleg from 96.81, where higher low was left. Positive hourly structure supports further correction, with dips expected to hold above 97.00, 20/55 bullish crossover, to maintain positive sentiment. Clear break above 97.47 to confirm near-term **** and open way towards next significant barriers at 97.86, 03/10 lower top and 98.10, 50% retracement of 99.65/96.55 downleg. Conversely, failure to sustain break above 97.47, would keep the downside at risk, as larger picture bears remain in play and eye full retracement of 97.58/101.52 rally.

Res: 97.47; 97.86; 98.10; 98.28

Sup: 97.10; 96.81; 96.55; 96.00

Near-term focus shifts higher, as the price extends rally from 0.9280 near-term **** and breaks above pivotal 0.9455 barrier. Pullback from fresh high at 0.9483, could be seen as corrective, despite weakened hourly studies, as the fall was contained at 0.9410 ****, reinforced by 55DMA and 50% retracement of 0.9526/0.9280 descend. Fresh attempt higher is supported by positive 4-hour studies, with break above 0.9483 and psychological 0.9500 hurdles, to open way for final push towards key 0.9526 barrier and possibly resume larger recovery rally from 0.8891. Conversely, loss of 0.9400 support, would weaken the near-term structure.

Res: 0.9454; 0.9483; 0.9500; 0.9526

Sup: 0.9410; 0.9389; 0.9368; 0.9350

The Euro remains at the back foot, as break below initial 1.3540 support, triggered fresh acceleration that fully retraced 1.3500/1.3645 upleg. Break below 1.3500 support, focuses strong support zone at 1.3460/40, higher platform / previous peak of 20/08 and Fibonacci 38.2% retracement of 1.3103/1.3645 rally. Negative near-term technicals favor the scenario, with consolidative action on oversold hourly studies, expected to precede fresh weakness. Any stronger rally should stay capped under 1.3545/65, Fibonacci 38.2% and 50% of 1.3645/1.3484 downleg, to keep freshly established bears in play.

Res: 1.3525; 1.3545; 1.3565; 1.3583

Sup: 1.3484; 1.3460; 1.3440; 1.3400

Cable came under increased pressure yesterday, with fresh bearish acceleration extending reversal from 1.6259 peak below 1.6000 handle and approaching the next support at 1.5900. The third wave that commenced from 1.6123 lower top, could travel to 1.5871/57, main bull trendline off 1.4812 and 100% Fibonacci expansion, with negative near-term studies supporting the notion. Bears may be interrupted by consolidative action, as hourly and 4-hour studies are oversold, with 1.6000, previous support, now offering solid resistance.

Res 1.5965; 1.6000; 1.6041; 1.6081

Sup: 1.5912; 1.5900; 1.5871; 1.5857

The pair extends near-term correction through initial barrier at 97.47 and Fibonacci 38.2% of 99.65/96.55 descend, approaching initial barriers at 98.00/10, psychological resistance / 50% retracement. Positively aligned near-term studies support further advance, however, overbought hourlies may delay rally. Clear break above 98.00 resistance zone is required to confirm freshly established uptrend and near-term **** at 96.55, for stronger recovery towards next significant barrier at 99.00. Corrective dips should be contained above higher low at 97.11, to maintain bulls.

Res: 97.81; 98.00; 98.10; 98.28

Sup: 97.45; 97.11; 96.81; 96.55

The pair came under pressure, as recovery attempt off 0.9280 failed to sustain break above 0.9455 barrier, with extension higher stalling at 0.9483 and subsequent pullback probing levels below 0.9400 support. Hourly studies turned negative, while 4-hour indicators are heading south that keeps the downside at risk, as the pullback retraced nearly 50% of 0.9280/0.9483 rally. Further easing would signal prolonged consolidation under 0.9526 high, as the price holds within 0.9280/0.9500 range. However, positive daily studies keep the upside in focus, with price action required to hold above key near-term support at 0.9280.

Res: 0.9422; 0.9471; 0.9483; 0.9500

Sup: 0.9388; 0.9358; 0.9332; 0.9300

The Euro ended week in the positive tone, closing just below psychological 1.37 barrier that was cracked last Friday. Annual high at 1.3710 remain in immediate focus, with break here to extend the third wave that commenced from 1.3103, 01/09 higher low and could travel to 1.3803, its 100% Fibonacci expansion and 1.3832, 61.8% Fibonacci retracement of larger 1.4938/1.2042 bear-phase. Bulls remain in play in near-term technicals, however, further consolidation cannot be ruled out, as studies on 4-hour chart are overextended. Current consolidation floor at 1.3658, along with previous peak at 1.3645, offers initial support, ahead of 1.3614/1.3587, 50% / 61.8% of 1.3472/1.3702, the latter being reinforced by 55DMA and seen as ideal reversal point. Key near-term supports and breakpoints lay at 1.3472/50, 16/10 low / 20/08 peak and only break here would neutralize near-term bulls.

Res: 1.3702; 1.3710; 1.3750; 1.3800

Sup: 1.3658; 1.3645; 1.3614; 1.3587

Cable consolidates fresh gains on Friday, when the price peaked at 1.6223 and corrective pullback being established above 1.6140, consolidative floor. However, downside risk persists, as hourly indicators head south and 4-hour conditions being overextended. This suggests further consolidative / corrective action that may precede eventual push towards near-term target at 1.6259, 01/10 high, with further easing to be ideally contained at 1.6100, Fibonacci 61.8% retracement of 1.5892/1.6223 rally. Only break below 1.6058, 50% retracement and 55DMA, would neutralize immediate bulls. Daily studies remain positive, as the bull trendline holds, however, Friday’s Doji, suggests hesitation on approach to key near-term barrier at 1.6259.

Res: 1.6177; 1.6200; 1.6223; 1.6259

Sup: 1.6140; 1.6123; 1.6100; 1.6058

The pair trades in near-term consolidative mode, off fresh low at 97.54, with upside being capped at 98.14 for now. Prevailing negative tone on 4-hour chart, keeps the downside at risk, with fresh weakness through 97.54, also near 61.8% retracement of 96.55/98.99 upleg, to open way for further easing and expose 97.13/00, 76.4% retracement / round-figure support. Conversely, fresh bulls, built on hourly chart, may prolong consolidative phase and possibly shift near-term focus higher, in case price sustain break above 98.27/44, Fibonacci 50% / 61.8% retracement of 98.99/97.54 downleg.

Res: 98.14; 98.27; 98.44; 98.65

Sup: 97.91; 97.76; 97.54; 97.13

The pair remains supported and continues to trend higher, as upside acceleration through psychological 0.9600 barrier, tested near-term target at 0.9664, 14/06 peak and Fibonacci 61.8% expansion of the third wave from 0.9280 higher low. Break here to open psychological 0.9700 barrier and 0.9714, 50% retracement of larger 1.0581/0.8846 descend, net targets. Extension of the third wave from 0.9280 higher low, could travel to 0.9905/18, Fibonacci 100% expansion and 61.8% retracement of 1.0581/0.8846, once 0.9700/14 barriers are cleared. Near-term studies are positive, however, corrective easing is seen as likely near-term scenario, as 4-hour RSI is in overbought territory and studies are overextended. Immediate supports lay at 0.9641/00, with previous peak at 0.9526, also 38.2% retracement of 0.9280/0.9678 rally, expected to contain.

Res: 0.9678; 0.9700; 0.9714; 0.9770

Sup: 0.9641; 0.9600; 0.9546; 0.9526