The Euro trades in widened consolidative range, with downside being for now protected by hourly 55DMA / 4-hour 20DMA at 1.3650, also Fibonacci 23.6% of 1.3472/1.3702 ascend and previous high of 03/10. Hourly studies are neutral to negative, with further sideways mode seen while 1.3650 holds. On the other side, 4-hour indicators are descending from overextended territory that keeps the downside vulnerable of further corrective easing. Below 1.3650 handle, Fibonacci 38.2% at 1.3614, will come next, along with 1.3600, high of 14/10 and 4-hour 55DMA, levels seen as ideal reversal point, ahead of fresh attack at short-term target at 1.3710, with 1.3800, Fibonacci 100% expansion of the wave from 1.3103, seen as next target. Any break below 1.3600 would delay bulls for further consolidation, with pivotal near-term support lying at 1.3470 zone.

Res: 1.3687; 1.3702; 1.3710; 1.3750

Sup: 1.3650; 1.3614; 1.3600; 1.3587

Cable moves lower after losing initial support at 1.6140, with hourly studies turning negative, as the price heads towards psychological 1.6100 support, also Fibonacci 38.2% of 1.5892/1.6223 rally. Indicators on 4-hour chart slide from overbought territory and support the idea of further corrective easing that would be triggered on a break below 1.6100 handle. Next significant level stands at 1.6075, 50% retracement and 4-hour 55DMA, below which, risk of lower top at 1.6223 would increase, with break below near-term **** and pivotal point at 1.5900 zone, required to activate negative scenario and allow for stronger pullback. Reversal above 1.6000, psychological and trendline support, would keep larger bulls intact for renewed attempt towards 1.6223 and key 1.6259 resistance.

Res: 1.6138; 1.6177; 1.6200; 1.6223

Sup: 1.6114; 1.6100; 1.6058; 1.6018

The pair remains supported and heads higher, as break above initial 98.14 barrier extended recovery rally from 97.54 low. Positively aligned hourly structure supports further upside with break above 98.50 barrier, near 61.8% of 98.99/97.54 downleg, required to confirm bullish resumption and focus key near-term hurdle at 98.99, 17/10 peak. On the other side, weak 4-hour studies would keep the downside risk in play, while below 98.50, with loss of initial 98.00 support, seen as spark for further weakness towards 97.54, 18/10 low. Loss of the latter to bring bears fully in play and confirm lower top formation.

Res: 98.44; 98.65; 98.99; 99.65

Sup: 98.14; 98.00; 97.73; 97.54

The pair remains supported as upside acceleration through psychological 0.9600 barrier, cleared near-term target at 0.9664, 14/06 peak and Fibonacci 61.8% expansion of the third wave from 0.9280 higher low. Psychological 0.9700 barrier and 0.9714, 50% retracement of larger 1.0581/0.8846 descends, come in near-term focus, however, rally is likely to be preceded by current consolidative action, with 0.9600 support expected to hold. 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, 4-hour indicators moving from overbought territory, favor further consolidation. Only break below 0.9600 handle would delay and open next significant support at 0.9526, previous peak and 38.2% retracement of 0.9280/0.9678 rally.

Res: 0.9678; 0.9700; 0.9714; 0.9770

Sup: 0.9641; 0.9600; 0.9546; 0.9526

The Euro got unleashed again, after weaker than expected US jobs data pushed the dollar significantly lower. The single currency completed multi-year 1.3710/1.2042 bear-phase on a break above 1.3710, 2013 annual peak. Fresh extension higher reached levels close to psychological 1.3800 barrier, with next target lying at 1.3832, Fibonacci 38.2% retracement of 1.4938/1.2042 descend. Overbought near-term technicals suggest hesitation ahead of 1.38 barrier, with corrective easing to face initial supports at 1.3710/00, ahead of 1.3670, 38.2% retracement of 1.3472/1.3792 rally and higher **** at 1.3650, where dips should be ideally contained.

Res: 1.3792; 1.3832; 1.3850; 1.3900

Sup: 1.3710; 1.3670; 1.3650; 1.3630

Cable enters near-term corrective mode, following yesterday’s fresh rally above 1.6223 barrier that stalled on approach to key resistance at 1.6259. Weakening hourly studies bring immediate threat towards strong 1.6114 support and higher low that also marks 38.2% retracement of 1.5892/1.6254 upleg. Potential break here would sideline immediate bulls and push the price towards mid-points of near-term 1.5892/1.6259 range. Alternatively, fresh attempt at 1.6259 and break above 1.6259, towards short-term targets at 1.6300/80, would be likely scenario, as 4-hour studies remain bullish. However, caution is required, as daily technicals are losing momentum.

Res: 1.6200; 1.6223; 1.6254; 1.6259

Sup: 1.6114; 1.6100; 1.6073; 1.6030

The pair came under increased pressure recovery rally from 97.54 stalled at 98.44 and subsequent weakness erased gains on break below 97.54 handle. Immediate targets at 97.13, 76.4% of 96.55/98.99 and psychological 97.00 support, come under pressure, as the lower top was formed at 98.44. Extension of near-term downtrend from 98.99, would look for full retracement of 96.55/98.44, once 97.00 is cleared. Negative near-term studies support the notion, however, bears may be delayed, as hourly studies are oversold, with corrective bounce expected to hold below 98.00, 20/55DMA’s bearish crossover. Only break above 98.44 would improve near-term structure and avert immediate downside risk.

Res: 97.54; 97.85; 98.00; 98.20

Sup: 97.25; 97.13; 97.00; 96.55

The pair remains supported as fresh extension higher posted new high at 0.9755, earlier today. Break above 0.9714, 50% retracement of larger 1.0581/0.8846 descend, with positive overall picture, keeps the upside favored, with current corrective pullback expected to precede fresh attempt higher. Initial supports lay at 0.9630/00, session low / round figure support, the latter being underpinned by rising 55DMA. Any deeper dips, however, should not exceed 0.9500 support, also 50% of 0.9280/0.9755 rally. Upside extension above 0.9755, would look for 0.9770/90; 04/03 / 06 peaks.

Res: 0.9678; 0.9700; 0.9755; 0.9770

Sup: 0.9630; 0.9600; 0.9574; 0.9526

The Euro resumes bulls and cracks psychological 1.38 barrier, after near-term consolidation under the latter was completed. Extension of the third wave that commenced from 1.3103, 06/09 higher low that broke above its 100% Fibonacci expansion at 1.3797, focuses the next target at 1.3832, Fibonacci 38.2% retracement of larger 1.4938/1.2744 bear-phase, above which, psychological 1.4000 barrier would come in near-term focus. Near-term studies are positive and support further upside, with overbought 4-hour conditions suggesting a pause in current rally. Consolidation range floor at 1.3740 offers initial support, ahead of 1.3710/00, previous peak / round figure support.

Res: 1.3832; 1.3857; 1.3900; 1.3935

Sup: 1.3773; 1.3740; 1.3710; 1.3650

Cable heads higher after quick pullback from 1.6254, yesterday’s upside rejection, found support at 1.6115, previous low of 22/10 and Fibonacci 38.2% retracement of 1.5892/1.6254 upleg. Hourly studies are gaining traction, with caution required on 4-hour RSI / MACD bearish divergence, as failure to clear important 1.6254/59 barriers, would trigger further consolidation. However, while 1.6115/00 support zone holds, near-term focus will remain at the upper boundary of congestion, otherwise more negative tone would be seen on a break below 1.6100 that would increase risk of attempts through psychological 1.6000 support and re-visit of key near-term support and higher platform at 1.5900 zone.

Res: 1.6223; 1.6254; 1.6259; 1.6300

Sup: 1.6160; 1.6115; 1.6100; 1.6073

The pair came remains under pressure, as near-term technicals maintain negative tone, with price action being entrenched within narrow consolidative range above fresh low at 97.13, also Fibonacci 76.4% retracement of 95.55/98.99. Extension of near-term downtrend from 98.99 and full retracement of 96.55/98.99 upleg, is seen as preferred scenario, with loss of 97.00 handle, required to confirm. Further consolidation, howvere, cannot be ruled out, with psychological / 20/55DMA’s bullish crossover barrier, expected to cap. Only break above 98.47, 22/10 lower top, would revive bears and turnd focus higher.

Res: 97.85; 98.00; 98.18; 98.47

Sup: 97.13; 97.00; 96.55; 96.00

Near-term risk of further easing from fresh high at 0.9755 increases, as near-term studies are losing traction and rally was capped by 200DMA, despite sharp pullback from 0.9755 finding ground at 0.9600 zone, also 55DMA, where basing attempt is evident. Positively aligned hourly studies are lacking strength for push through 0.9680/0.9700 barriers and Fibonacci 50% / 61.8% retracement of 0.9755/0.9606, break of which is required to re-focus 0.9755. Otherwise, risk of further correction of larger 0.9280/0.9577 rally, would persist, as loss of 0.9600 handle is expected to confirm and open next targets at 0.9574, 38.2% and 0.9526/18, previous peak / 50% retracement of the entire rally, along with psychological 0.9500 support that should contain any extension lower. Overextended daily technicals also suggest that caution is required.

Res: 0.9678; 0.9700; 0.9755; 0.9770

Sup: 0.9643; 0.9600; 0.9574; 0.9526

The Euro stabilizes around 1.38 handle, where the price closed for the week, after posting fresh high at 1.3831, Fibonacci resistance. Overall tone remains positive, however, descending indicators on 4-hour chart suggest further consolidation that was signaled by Friday’s Doji. Also overbought daily studies see risk of a pause in near-term rally. Initial support lies at 1.377, consolidation floor /Fibonacci 38.2% of 1.3664/1.3831 upleg, ahead of strong 1.37 zone, previous highs / 38.2% retracement and 1.3650 higher low / 50%, where stronger dips should find a footstep. On the upside, break above 1.3831 to focus 1.3900 initially.

Res: 1.3817; 1.3837; 1.3857; 1.3900

Sup: 1.3770; 1.3750; 1.3700; 1.3650

Cable trades in prolonged consolidative phase, with price action being established within 1.6254/1.6114 range, following repeated failure at key 1.6254/59 barrier. Hourly technicals are weak, while 4-hour chart indicators are losing traction, as the price moves within hourly triangular consolidation. Increased downside risk would be seen on a break below 1.6114/00 support zone, as this would also signal double-top formation on 4-hour chart and keep the upside targets on hold. Conversely, sustained break above 1.6200 handle, would shift near-term focus towards key barriers and breakpoints at 1.6254/59, above which to signal resumption of larger uptrend and focus short-term targets at 1.6300/80.

Res: 1.6221; 1.6245; 1.6254; 1.6259

Sup: 1.6168; 1.6148; 1.6114; 1.6100

The pair regains strength and averts immediate downside risk, as bounce off 97.00 support zone that was cracked last Friday, retraces over 50% of 98.47/96.93 downleg, on a weekly gap-higher opening. Hourly studies turned positive, however, weak tone prevails on 4-hour chart, as the price remains in near-term downtrend from 98.99 and current rally being capped by 55DMA at 97.74. Regain of 98.00 and more significant 98.47 lower top, is required to shift focus higher, otherwise, fresh lower top and extension of larger downtrend, would be likely near-term scenario. Initial support lies at 97.43, session low / 20/55DMA’s bullish crossover, while, extension below 96.93 handle would open way for full retracement of 96.55/98.99 ascend.

Res: 97.74; 98.00; 98.18; 98.47

Sup: 97.43; 96.93; 96.55; 96.00

Near-term price action remains under pressure, as extension from 0.9670, where the lower top was left, broke below initial 0.9600 support. Fresh extension lower retraced 38.2% of 0.9280/0.9755 rally on a dip to 0.9571 so far, with near-term indicators sliding into negative territory. Initial targets lay at 0.9526/18, previous peak / 50% retracement, along with psychological 0.9500 support, reinforced by daily 55DMA. Break here to neutralize near-term bulls and spark stronger correction of larger 0.9280/0.9755 rally, as the upside remains capped by descending 200DMA. Corrective attempts face initial resistance at 0.9622, with 0.9670 expected to cap.

Res: 0.9622; 0.9670; 0.9700; 0.9755

Sup: 0.9571; 0.9526; 0.9500; 0.9461

The Euro trades in extended consolidative phase, off fresh high at 1.3831, with price holding for now within 1.3760/1.3831 range. Negatively aligned hourly studies keep the downside risk in play while the price stays below 1.38 barrier, as 4-hour indicators are heading south and support the notion. Break below initial support at 1.3760 and more significant 1.3740 higher low / 50% retracement of 1.3649/1.3831 upleg, to spark stronger pullback and expose next layer of supports at 1.3700 zone. Overall bullish structure, however, keeps the upside favored, with 1.3900 target seen on extension through 1.3831.

Res: 1.3800; 1.3817; 1.3831; 1.3857

Sup: 1.3760; 1.3740; 1.3700; 1.3650

Cable lost traction, as the upside remains capped at 1.62 barrier and fresh weakness through 1.6114, near-term range floor and psychological 1.61 handle, weaken the structure. The price reached the mid-point of larger 1.5892/1.6254 range, with negatively aligned technicals, seeing risk of extension towards the range floor and higher **** at 1.59 zone. Loss of psychological 1.6000 support is required to confirm. On the larger picture, one-month range-trading remains in play, however, break below the main bull trendline and south-heading daily indicators, increase the downside risk. Break of either side of the range is required to define fresh direction.

Res: 1.6123; 1.6163; 1.6207; 1.6245

Sup: 1.6063; 1.6030; 1.6000; 1.5977

Overall bears off 98.99 peak remains in play, as recovery attempt off fresh low at 96.93 were for now capped by 55DMA / bear-trendline at 97.75. Weak near-term studies keep the downside at risk, as long as the price holds below the trendline, with lower top formation seen as likely near-term scenario. Return to 97.00 support zone, the last obstacle en-route to 96.55 target, is required to confirm bearish resumption. Otherwise, prolonged corrective action would be seen on a lift above 97.75. However, only regain of 98.47 lower top, would bring bulls fully in play and shift near-term focus higher.

Res: 97.75; 98.00; 98.18; 98.47

Sup: 97.43; 97.16; 96.93; 96.55

The pair remains under pressure, as fresh extension from 0.9621 lower top approached psychological 0.9500 support. With over 50% of 0.9280/0.9755 rally being retraced so far, risk of further retracement increases, with break below 0.9500 handle seen as a trigger. Oversold near-term conditions, however, see consolidative phase preceding fresh weakness that would look for 0.9460, 61.8% and higher platform at 0.94 zone, once price loses 0.95 handle. On the upside, initial resistance lies at 0.9570 lower platform, with regain of 0.96 barrier, expected to face strong resistance at 0.9621/28, lower top / 50% retracement of 0.9755/0.9502 downleg, where stronger rallies should be capped.

Res: 0.9554; 0.9571; 0.9600; 0.9628

Sup: 0.9500; 0.9461; 0.9400; 0.9388

The Euro came under increased pressure as pullback from fresh high at 1.3831 cracked strong support at 1.3740, 23/10 low / 50% retracement of 1.3649/1.3831 upleg. The fall as temporarily contained by 55DMA / 4-hour cloud top at 1.3732, however, negatively aligned near-term technicals see risk of further retracement. Clear break below 1.3740 to open strong supports at 1.37 zone and pivotal 1.3650 support, 03/10 high / 21/10 low, in extension. Corrective rallies should be capped at 1.38 zone, where yesterday’s repeated attempt higher failed, to keep near-term bears in play.

Res: 1.3752; 1.3773; 1.3817; 1.3831

Sup: 1.3732; 1.3710; 1.3692; 1.3650

Cable remains under pressure, as loss of 1.61 support zone retraced over 61.8% of 1.5892/1.6254 rally. Near-term focus shifts towards the lower boundary of larger 1.5892/1.6254 range, with price approaching psychological 1.6000 support. This also marks the last significant obstacle on the way towards 1.59 **** and pivotal support. Prevailing negative tone on near-term technicals keeps the downside favored, however, consolidation above 1.6000 is expected to precede fresh weakness. Previous range floor at 1.6114 and bearish 20/55DMA’s crossover at 1.6130, are expected to cap.

Res: 1.6221; 1.6245; 1.6254; 1.6259

Sup: 1.6022; 1.6000; 1.5977; 1.5920

The pair remains supported and heads higher, as break above near-term congestion at 97.75 and psychological 98.00 barrier, resumes recovery rally off 96.93, 25/10 low. Technicals are positive and support further gains, with break above bear-trendline at 98.37 and regain of important 98.47, 22/10 lower top and Fibonacci 76.4% of 98.99/96.93 descend, expected to open way for final push towards key near-term barrier at 98.99, 17/10 peak. Consolidative actions on extended hourly studies, could precede fresh extension higher, with previous range top at 97.75, now offering solid support and expected to keep the downside protected. Only loss of higher platform at 97.45 would neutralize bulls.

Res: 98.47; 98.69; 98.99; 99.12

Sup: 98.09; 97.75; 97.45; 96.93

The pair remains under pressure, as fresh extension from 0.9621 lower top, broke below psychological 0.9500 handle and extended losses to 0.9458, Fibonacci 61.8% of 0.9280/0.9755 rally. The price found temporary support here, as oversold near-term conditions signal corrective action before bears return to play. Negative near-term studies support the notion and keep the downside favored for extension towards strong support and **** at 0.9400 zone. Corrective rallies should not exceed 0.9600 barrier, to keep near-term bears intact.

Res: 0.9519; 0.9554; 0.9583; 0.9621

Sup: 0.9458; 0.9424; 0.9400; 0.9388