The Euro showed no changes compared to the previous sessions, as the price remains entrenched within 1.3440/1.3520 consolidative range. Slight improvement of hourly studies pushed the price to the upper range part, however, overall negative tone keeps pivotal support at 1.3440/20 zone at risk, with break lower to spark fresh bear-leg and expose next targets at 1.3370, daily 90DMA and at 1.3300 zone, 50% retracement of 1.2754/1.3831 rally. Corrective rallies above 1.35 barrier should ideally stay capped under 1.3600/40, to keep bears in play.

Res: 1.3523; 1.3565; 1.3590; 1.3640

Sup: 1.3467; 1.3441; 1.3420; 1.3400

Cable regained strength and accelerated recovery rally from 1.59 **** and critical support, reinforced by daily cloud top, to retrace over 50% of 1.6254/1.5901 descend on a bounce to 1.6094 so far. Approaching important 1.6100/20 resistance zone, keeps focus at the upside, as positive near-term studies support further advance. However, larger picture range trading remains in play, with break of either side required to define fresh direction. Daily studies are losing traction that keeps the lower boundary of the range vulnerable for now.

Res: 1.6094; 1.6116; 1.6148; 1.6171

Sup: 1.6061; 1.6020; 1.6000; 1.5980

The pair extended near-term corrective rally off 98.15 and averts immediate downside risk, seen on violation of 98.00 support. Near-term technicals are positive, as the price approaches initial 98.84 barrier and key resistance at 98.99, regain of which to complete 98.99/96.93 corrective phase and open way for further upside. Higher low and bull trendline at 98.40, offer initial support and should ideally contain dips, while 98.15/00 zone is seen as a breakpoint and break low would revive bears.

Res: 98.74; 98.84; 98.99; 99.12

Sup: 98.40; 98.15; 98.05; 97.80

The pair remains under pressure, with near-term corrective rally from fresh low at 0.9420, being limited, as brief breaks above 55DMA at 0.9520, failed to sustain gains for now, as daily 20DMA limited rallies at 0.9535. Slightly improved near-term studies are still lacking momentum for stronger recovery that would keep sideways trade in play, as long as range top at 0.9535 and Fibonacci 38.2% of 0.9755/0.9420 descend cap. Weakening daily technicals keep the downside at risk and as long as price holds below 0.9600 handle, regain of which would shift focus higher, retest of initial 0.9420 support and fresh weakness, seen on violation of 0.9420/00 support, would be likely near-term scenario.

Res: 0.9535; 0.9548; 0.9587; 0.9621

Sup: 0.9480; 0.9462; 0.9420; 0.9400

Spot Gold remains under pressure, as fresh low and 50% retracement of 1251/1361 corrective rally at 1306 has been retested. The price trades in a consolidative mode, with near-term studies maintaining negative tone and keeping the downside at risk. Break below 1306/00 supports to open 1293 and 1277, Fibonacci 61.8% and 76.4% supports. Consolidation top at 1322, along with previous support, now resistance at 1327, is expected to keep the upside limited for now.

Res: 1315; 1322; 1327; 1335

Sup: 1305; 1300; 1293; 1277

The Euro steadies above 1.35 handle, ahead of ECB today, with no significant rallies seen so far, after the pair posted marginally fresh high at 1.3546 yesterday. Hourly studies are positively aligned, along with north-heading 4-hour indicators that suggests further recovery, with 1.36 zone, Fibonacci 38.2% of 1.3831/1.3441 downleg / 55DMA, being in near-term focus. Overall picture, however, remains bearish and current break in strong fall from last week could be seen as corrective phase, ahead of fresh weakness. Rallies should be ideally limited at 1.3640/80, Fibonacci 50% / 61.8% respectively, before bears re-assert. Break below pivotal 1.3440/20 support, Fibonacci 38.2% of larger 1.2754/1.3831 rally and main bull-trendline, drawn off 1.2754, where bears found temporary footstep, is expected to trigger fresh leg lower and expose 1.33 zone, also 50% retracement of 1.2754/1.3831.

Res: 1.3546; 1.3590; 1.3640; 1.3682

Sup: 1.3500; 1.3467; 1.3441; 1.3420

Cable consolidates recent gains from 1.59 **** that cracked strong 1.6100/15 resistance and retraced nearly 61.85 of 1.6254/1.5901 descend. The price found footstep at initial 1.6060 support, however, weakening hourly studies, see risk of deeper pullback, before bulls take control, as 4-hour structure remains bullish. Ideal reversal point is seen at 1.6030 higher platform / Fibonacci 38.2% of 1.5901/1.6116 ascend, while any extension lower and potential break below psychological / 50% retracement 1.6000 support, would bring bears fully in play. On the upside, sustained break above 1.61 barrier, is required to keep positive tone and shift near-term focus towards the upper levels of one-month 1.5900/1.6259 range.

Res: 1.6094; 1.6116; 1.6148; 1.6171

Sup: 1.6061; 1.6034; 1.6000; 1.5983

The pair trades in near-term consolidative mode, off fresh high at 98.84, with the downside protected at 98.50 for now. Holding above bull-trendline from 96.93, keeps bulls in play for eventual retest of key 99.00 barrier, break of which to open 99.65 and psychological 100 resistance. Studies on lower timeframes remain positive and favor further upside, as daily indicators head north after emerging from negative territory and support the notion. Key supports lay at 98.15/00 and only break lower would sideline bulls.

Res: 98.74; 98.84; 98.99; 99.12

Sup: 98.54; 98.40; 98.15; 98.05

The pair remains under pressure, with near-term corrective rally from fresh low at 0.9420, being capped at 0.9541. Fresh weakness to 0.9460, previous low and 61.8% of 0.9420/0.9541, weakens hourly structure, however, holding above here, would keep positive tone on 4-hour studies, for possible renewed attempt higher. Clearance of 0.9541 barrier and 55DMA, is required to confirm higher low formation and avert downside risk of return to 0.9420 support. Larger picture shows bears gaining pace and while 0.9541 stays intact, risk of resumption of bear-trend from 0.9755, would remain in play.

Res: 0.9500; 0.9541; 0.9587; 0.9621

Sup: 0.9462; 0.9420; 0.9400; 0.9388

Spot Gold remains in sideways mode, with prevailing neutral tone seen while the price holds between 1305/20 range. The upside is capped by 55DMA, with 4-hour / daily studies being negatively aligned that sees increased downside risk for extension of pullback from 1361, 28/10 peak. Violation of pivotal 1305/00 support zone to signal an end of consolidative phase and trigger bearish extension towards 1290, next support. Conversely, clear break above initial 1320 barrier and 1330 zone, previous support / daily cloud ****, is required to confirm higher **** at 1305 and open further upside.

Res: 1322; 1327; 1335; 1345

Sup: 1314; 1305; 1300; 1293

The Euro ended the second consecutive week in red, as reversal from fresh high at 1.3831 retraced 50% of entire 1.2754/1.3831 rally, on a dip to 1.3294. The pair was additionally pressured by Fed’s decision that was followed by ECB’s rate cut and kept the negative sentiment in play. The price consolidates above fresh low at 1.3294, following Thursday/Friday’s bumpy ride, where the price oscillated between 1.3294 and 1.3450. Fresh weakness, seen last Friday, stayed above weekly low, with price consolidating above 1.33 handle. Near-term technicals remain bearish and see risk of further downside, as daily indicators slid into negative territory. However, further consolidation cannot be ruled out, with current range top at 1.3450, also previous consolidation floor of 04/05 / 11, expected to limit the upside. Only break above 1.3550, 06/11 lower top and near 50% of 1.3831/1.3294, would neutralize bears. On the downside, break below 1.3294 would open 1.3215, 200DMA and 1.3103, 06/09 higher low in extension.

Res: 1.3387; 1.3410; 1.3448; 1.3500

Sup: 1.3343; 1.3316; 1.3293; 1.3275

Near-term price action remains under pressure, as last week’s recovery rally from 1.59 ****, stalled at 1.6120, also 61.8% retracement of 1.6254/1.5901, with subsequent weakness, following the second unsuccessful attempt higher. The price hovers around 1.6000 zone, where weekly close occurred and daily cloud top offers temporary support, with 4-hour indicators breaking into negative territory and seeing risk of fresh attempt towards very strong 1.5900 ****. Negative hourly studies support the notion. On the larger picture, 5-week ranges remains intact and only break of either side would define fresh direction. Negatively aligned daily technicals keep the downside pressured, as loss of 1.59 **** will also confirm double-top formation.

Res: 1.6029; 1.6057; 1.6100; 1.6116

Sup: 1.6000; 1.5955; 1.5940; 1.5900

The price returned to strength and regained 99.00, following last week’s sharp fall from 99.39 to 97.61. Near-term technicals are positive, however, consolidation under 99.21 peak and session high, is seen on overbought hourly conditions. Immediate support at 98.90, 20DMA, holds for now, with further easing to be contained above 98.50, 20/55DMA, to keep the structure intact. Break above 99.39 is required to resume larger bulls off 96.93 and expose 99.65 and psychological 100.00 barrier. Conversely, loss of 98.50 handle, also 50% of 99.39/97.91 fall, would weaken near-term structure and risk fresh weakness towards higher platform at 98 zone.

Res: 99.21; 99.39; 99.65; 100.00

Sup: 98.90; 98.70; 98.50; 98.00

The pair remains under pressure, as fresh extension of near-term downmove from 0.9541, 06/11 high, broke below 0.9420/00 support zone. The price dipped to 0.9351 so far, aiming towards 0.9323, 50% retracement of 0.8891/0.9755 rally and 0.9300, psychological support. Negative near-term studies support the notion, however, overextended conditions suggest that fresh weakness would be preceded by consolidative/corrective phase. Previous supports at 0.9400, reinforced by 20DMA and 0.9420, also 55DMA, act as initial barriers, with lower platform at 0.9470, expected to limit the upside and keep bearish structure intact.

Res: 0.9400; 0.9420; 0.9470; 0.9508

Sup: 0.9388; 0.9350; 0.9323; 0.9300

The Euro trades in a triangular consolidation after posting fresh low at 1.3294 and corrective action being capped at 1.3450. Overall tone in the near-term remains negative, as the price lacked momentum for more significant recovery towards 1.3550/60 breakpoint, regain of which is required to signal stronger recovery and shift focus higher. For now, the downside remains vulnerable, with break below triangle support at 1.3355, seen as a trigger for fresh weakness towards key near-term support and low of 07/11 at 1.3294. Violation of the latter to signal resumption of larger downtrend from 1.3831 and open 1.3214/00, 200DMA / round-figure support. Conversely, attempts above triangle resistance at 1.3415, also session highs, would provide temporary relief, however, clearance of 1.3450, recovery high and 61.8% of 1.3546/1.3294 fall, is required to avert immediate downside risk.

Res: 1.3415; 1.3448; 1.3500; 1.3546

Sup: 1.3355; 1.3316; 1.3293; 1.3275

Cable remains under pressure, as last week’s recovery rally from 1.59 ****, stalled at 1.6120, also 61.8% retracement of 1.6254/1.5901, with subsequent weakness leaving a double-top. Extension below 1.6000 handle brings key support and **** at 1.5900 at risk. Negative near-term technicals favor scenario of retesting 1.5900. Initial resistance lies at 1.6000, also hourly 55DMA, with 1.6030, recovery rally high and 50% of 1.6113/1.5955 fall, expected to cap. Eventual break below critical 1.5900 support, is seen as a trigger for more significant pullback, as clear break lower is required to confirm daily double-top formation.

Res: 1.6000; 1.6029; 1.6057; 1.6100

Sup: 1.5940; 1.5900; 1.5850; 1.5800

Near-term price action remains supported and continues to trend higher, as reversal of 99.40/97.61 fall, triggered fresh strength. Retest of initial target at 99.65, opens way towards psychological 100 barrier in the near-term, with key short-term resistance at 100.60, 11/09 peak, expected to come in focus on violation of 100 hurdle. Positive near-term technicals support the notion, however, overbought hourly studies see risk of hesitation on approach to 100 barrier. On the larger picture, studies remain positive, with break above weekly bullish pennant, suggesting further upside.

Res: 100.00; 100.21; 100.45; 100.60

Sup: 99.09; 98.90; 98.15; 97.96

The pair remains under pressure, as fresh extension of near-term downmove from 0.9541, 06/11 high, tested so far 0.9323, 50% retracement of 0.8891/0.9755 rally, with break lower to open 0.9300, psychological support and daily Ichimoku cloud top. Negative near-term studies keep the downside favored, however, overextended conditions suggest that fresh weakness would be preceded by consolidative/corrective phase. Previous support zone at 0.9400/20, offer initial resistance, where corrective rallies should be ideally capped. Extension below 0.9300 to expose 0.9280, 30/09 higher low and mark full retracement of 0.9280/0.9755 bull-phase. Negative daily studies support the notion

Res: 0.9366; 0.9389; 0.9400; 0.9420

Sup: 0.9300; 0.9280; 0.9250; 0.9200

The Euro’s near-term tone turned positive, as extended consolidation broke above triangle resistance and tested the upper border of consolidative range. Hourly indicators moved above their midlines, with bullish momentum being built on 4-hour chart, supporting final attempt through strong resistance at 1.3460/70 zone, previous consolidation floor / daily Ichimoku cloud **** / 4-hour 55DMA, to confirm basing attempt and shift near-term focus higher. Extension above key barriers at 1.3546/63, 06/11 lower top / 50% retracement of 1.3831/1.3294, is required to confirm recovery. Otherwise, risk of lower top formation will remain in play, as rejection at 1.3460/70 barrier, would signal prolonged consolidative phase. Initial supports lay at 1.3415/00, while violation of 1.3358, 12/11 low, would weaken the structure.

Res: 1.3455; 1.3472; 1.3500; 1.3546

Sup: 1.3415; 1.3400; 1.3358; 1.3316

Cable eventually broke below strong support and short-term range floor at 1.59 zone, leaving lower top at 1.6116 and extending losses to initial support 1.5850 zone so far. Further weakness is expected to focus psychological 1.5800 support, as the third wave that commenced from 1.6116, could travel to 1.5763, it’s 100% expansion and 1.5751, 17/06 previous peak, to validate wave principles. Confirmation of daily double-top formation supports the notion, as near-term indicators hold in the negative territory. However, consolidative phase may be seen ahead of fresh weakness, as 4-hour studies approach oversold territory. Yesterday’s corrective rally high 1.5944, now offers initial resistance, reinforced by falling 55DMA and former consolidation floor and should ideally cap fresh upside attempts.

Res: 1.5900; 1.5944; 1.5955; 1.6000

Sup: 1.5884; 1.5853; 1.5800; 1.5763

The pair maintains positive sentiment and continues to trend higher, approaching psychological 100 barrier, with bear-trendline, connecting 101.52/100.60 peak, being cracked. Near-term technicals are positive and support the final push towards 100 barrier, above which the next significant resistance at 100.60, 11/09 peak, would come in focus. Consolidative action may delay bulls, as 4-hour indicators approach overbought territory, with 55DMA at 99.35, expected to keep the downside protected.

Res: 100.00; 100.21; 100.45; 100.60

Sup: 99.41; 99.35; 99.09; 98.90

The pair remains under pressure, as fresh extension of near-term downmove from 0.9541, 06/11 high, eventually broke below key short-term support at 0.9280, 30/09 higher low. Full retracement of 0.9280/0.9755 upleg and reversal of over 50% of entire 0.8891/0.9755 recovery rally, keeps bears firmly in play. The notion is supported bearish daily studies. However, overextended technicals of lower timeframes, see consolidative action ahead of fresh push lower. The upside should stay capped by 0.9400 barrier, previous support and 50% retracement of 0.9541/0.9269 descend.

Res: 0.9310; 0.9350; 0.9373; 0.9400

Sup: 0.9269; 0.9250; 0.9221; 0.9200