The Euro remains steady and extends rebound from last week’s fresh low at 1.3294, with strong barrier at 1.3460/70 zone being cleared. The price tested psychological / Fibonacci 38.2% of 1.3831/1.3294 resistance at 1.3500 so far, where gains were limited by broken bull trendline off 1.2754 and daily 55DMA. Further bulls are signaled by 4-hour indicators that moved into positive territory, however, hesitation ahead of 1.35 barrier and possible stronger correction is likely, as hourly indicators are turning down. Daily studies on the other side, maintain negative tone, with current rally seen as corrective and downside risk expected to remain in play as long as another strong barriers at 1.3546/63, 06/11 lower top / 50% retracement of 1.3831/1.3294 stay intact. Break here to confirm higher low formation at 1.3294 and spark stronger recovery. Otherwise, risk of lower top and fresh weakness would remain in play. Dips off 1.35, face support at 1.3420, 38.2% of 1.3294/1.3496 and more significant 1.34 zone, round figure / 50% retracement, where pullback should be contained.

Res: 1.3500; 1.3527; 1.3546; 1.3563

Sup: 1.3420; 1.3400; 1.3389; 1.3358

Cable bounced strongly and regained levels near 1.6100 barrier, after bears probed below very strong support and short-term **** at 1.5900. Break lower proves to be false for now, as near-term technicals turned positive and avert immediate risk of stronger fall that was signaled by loss of 1.5900 support. However, overbought hurly conditions see scope for consolidative action ahead of important barriers at 1.6113/16, 07/06 / 11 peaks, regain of which and break higher is required to confirm bulls are fully in play and to shift near-term focus towards the upper range boundaries. Initial supports lay at 1.6015/00, ahead of 1.5984, 38.2% of 1.5853/1.6065, reinforced by 55DMA, where any stronger pullback should be ideally contained.

Res: 1.6065; 1.6100; 1.6116; 1.6148

Sup: 1.6015; 1.6000; 1.5984; 1.5960

The pair regained strength and retest previous highs at 99.80, after corrective pullback found footstep above psychological 99.00 support. Fresh bulls attempt again above bear-trendline connecting 101.52/100.60, at 99.66, with psychological 100 barrier coming in focus. Break higher to resume bulls off 96.93 and open next significant resistance at 100.60, 11/09 high. Positively aligned near-term studies support the notion. Only loss of 99.00 handle would sideline bulls.

Res: 100.00; 100.21; 100.45; 100.60

Sup: 99.55; 99.09; 98.70; 98.44

The pair corrects recent losses that posted fresh low at 0.9269 so far, with bounce lacking strength for regain of significant barrier at 0.9400, psychological resistance / 50% retracement of 0.9541/0.9269 downleg and being reinforced by falling 55DMA. Subsequent pullback, increases downside risk, as 0.9300 support comes under pressure, with 4-hour indicators maintaining negative tone. Hourly indicators are turning lower that supports the scenario of re-visiting 0.9300 support, loss of which to risk return to 0.9269 and signal resumption of larger downtrend. Alternatively, holding above 0.9300, would signal prolonged consolidation, while only sustained break above 0.9400 hurdle would provide near-term relief and signals basing attempt for more significant corrective action

Res: 0.9385; 0.9400; 0.9437; 0.9480

Sup: 0.9320; 0.9300; 0.9269; 0.9221

The Euro remains steady and holds around 1.35 handle, where the pair ended last week’s trading, but so far unable to clearly break psychological barrier, reinforced by daily 55DMA. Technicals on the near-term are positive, with the price being establish in a bull-channel off 1.3294, 07/11 low. Sustained break above 1.35, to open next layers of resistance at 1.3546/63, 11 high / 50% retracement of 1.3831/1.3294 downleg. On the other side, daily studies remain bearish that keeps risk of lower top, in case of upside rejection under 1.3546 in play. Violation of 1.3420/00, trendline / round figure support and mid-point of entire rally from 1.3294 is required to confirm and bring bears in play.

Res: 1.3504; 1.3546; 1.3563; 1.3600

Sup: 1.3473; 1.3430; 1.3420; 1.3400

Cable steadies above 1.6100 handle, above which, weekly close occurred. Clearance of previous highs at 1.6116/13, sees scope for further upside, with 1.6159, Fibonacci 76.4% of 1.6254/1.5853 descend, coming next, ahead of psychological 1.6200 barrier. With near-term focus being shifted towards the upper boundary of short-term range, break above 1.6200 is expected to open range tops at 1.6254/59. Positive near-term studies support the notion, as daily indicators broke above the midlines and underpin the action. Initial support lies at 1.6100, with higher platform at 1.6050, expected to keep the downside protected.

Res: 1.6141; 1.6159; 1.6200; 1.6245

Sup: 1.6100; 1.6050; 1.6030; 1.6000

The pair enters corrective phase, after posting fresh high at 100.42 and closed for the week above psychological 100 level. The latter comes under pressure, as pullback on overbought near-term studies looks for further easing. Broken bear-trendline at 99.75, offers next support, ahead of strong 99.00 zone, 13/11 higher low / 17/10 previous peak and 50% retracement of 97.61/100.42, where dips should be ideally contained. Overall picture remains bullish and favors further extension and full retracement of 100.60/96.55 descend in the near-term.

Res: 100.42; 100.60; 101.00; 101.37

Sup: 99.75; 99.35; 99.00; 98.80

The pair returns to strength, as break above near-term congestion and clearance of psychological 0.9400, also 50% retracement of 0.9541/0.9269, signals basing attempt and stronger corrective action, as the 0.9269 **** is reinforced by daily 90DMA. The price attempts at 0.9420, daily 55DMA / previous low of 01/11, above which, Fibonacci 61.8% and 76.4% at 0.9437/77, come next. However, larger downmove from 0.9755, 23/10 peak, remain intact and regain of 06/11 lower top at 0.9541, is required to neutralize bears and avert risk of lower top and fresh bearish extension.

Res: 0.9420; 0.9437; 0.9477; 0.9500

Sup: 0.9385; 0.9357; 0.9330; 0.9300

The Euro stabilizes above 1.35 handle that now acts as initial support and being reinforced by daily cloud top. Extension higher bring next resistances at 1.3546, 06/11 high and 1.3563, 50% retracement of 1.3831/1.3294 fall / daily 20DMA in focus, as break here is required to confirm near-term bottom at 1.3294 and trigger further retracement of 1.3831/1.3294 descend towards 1.3600, psychological barrier. Below 1.35, bullish 20/55DMA’s crossover at 1.3480, offers next support, with bull trendline off 1.3294, reinforcing higher platform support at 1.3430.

Res: 1.3546; 1.3563; 1.3600; 1.3626

Sup: 1.3500; 1.3480; 1.3430; 1.3400

Cable steadies above 1.6100 handle, after hitting fresh high at 1.6147, with consolidative phase within 1.6100/30 range under way. Positive tone prevails on 4-hour hour chart and keeps further upside favored, however, neutral hourly conditions, see further consolidation as likely scenario. Below 1.6100, next supports lay at 1.6080, 20DMA; 1.6050 higher platform and psychological 1.6000 support / 50% retracement of 1.5853/1.6147 upleg / daily cloud ****, seen as ideal reversal point in case of deeper pullback. Upside targets at 1.6200 and key 1.6254/59 hurdles remain in near-term focus.

Res: 1.6128; 1.6147; 1.6159; 1.6200

Sup: 1.6100; 1.6080; 1.6050; 1.6000

The trades in near-term corrective phase off fresh high at 100.42, with fresh extension below 100 support and 99.75, broken bear-trendline, testing levels below 61.8% retracement of 99.09/100.42 upleg at 99.60 zone. Hourly studies turned negative and favor further downside, while overall positive tone sees current pullback as corrective phase of larger uptrend, with higher low seen above strong 99.00 support, to precede fresh leg higher. Regain of 100.42 to open 100.60 and 101 in extension. Only loss of 99.00 handle, higher low of 13/11 and 50% retracement of 97.61/100.42 rally, would neutralize bulls and allow for stronger pullback.

Res: 99.91; 100.19; 100.42; 100.60

Sup: 99.56; 99.40; 99.00; 98.80

The pair remains supported, as fresh strength emerged from 0.9351, session low and corrective phase bottom and broke above previous high at 0.9417. With 0.9437 barrier, Fibonacci 61.8% retracement of 0.9541/0.9269 descend being cracked, the way is open towards 0.9477, 76.4% retracement and psychological 0.9500 barrier, with key resistance and breakpoint at 0.9541, expected to come in focus, once the price regains 0.9500 handle. Positively aligned near-term studies support the notion, however, negative daily picture would keep the downside risk in play as long as 0.9541 barrier stays intact.

Res: 0.9477; 0.9500; 0.9541; 0.9571

Sup: 0.9417; 0.9385; 0.9351; 0.9330

The Euro extends recovery rally from 1.3294 low to eventually break above important 1.3546/63 barrier, 06/11 lower high / 50% retracement of 1.3831/1.3294 descend / daily Kijun-sen line, on extension to 1.3577 so far. Near-term bulls remain in play, with corrective pullbacks on oversold hourly conditions, expected to interrupt rally. Initial support lies at 1.3500, round figure / daily cloud top, ahead of lower top at 1.3486, also near 20/55DMA’s bullish crossover, where dips should be ideally contained. Otherwise bulls would be delayed in favor of stronger reversal towards higher platform at 1.3430. Resumption of the uptrend to eye psychological 1.3600 barrier and Fibonacci 61.8% retracement of 1.3831/1.3294 at 1.3626.

Res: 1.3562; 1.3577; 1.3600; 1.3626

Sup: 1.3500; 1.3486; 1.3430; 1.3400

Cable steadies above 1.6100 handle, despite yesterday’s spike lower that was contained at 1.6058, with near-term price action being in directionless consolidative trading. Prevailing positive tone on near-term technicals keeps the upside focused, as break above current range top at 1.6159, is expected to open 1.6159, Fibonacci 76.4% of 1.6254/1.6853 first, ahead of psychological 1.6200 barrier, en-route towards key resistances at 1.6254/59. Positively aligned daily studies support bullish scenario. Initial support lies at 1.6100 and is reinforced by hourly 55DMA, ahead of 1.6058, also 4-hour 55DMA, loss of which would put immediate bulls on hold and open 1.6035/00, Fibonacci 38.2% / 50% retracement of 1.5853/1.5147 rally.

Res: 1.6147; 1.6159; 1.6200; 1.6245

Sup: 1.6100; 1.6058; 1.6035; 1.6000

The pair consolidates at 100 level, following bounce from yesterday’s correction low at 99.56. Rally above 100 barrier reached 100.24 high so far, with positive near-term structure keeping the upside attempts towards 100.42, 15/11 peak favored. Dips should be held at 99.70/56, broken bear-trendline off 101.52 / yesterday’s higher low, to keep bulls in play and avert risk of fresh weakness towards 99.00 zone, higher low of 13/11 and 50% retracement of 97.61/100.42 ascend.

Res: 100.24; 100.42; 100.60; 101.00

Sup: 99.70; 99.56; 99.35; 99.00

The pair enters near-term corrective phase after failing to clear 0.9446 barrier on the second attempt. With 0.9400 handle being lost and hourly indicators sliding into negative territory, near-term downside risk increases, as the pullback retraced 38.2% of 0.9269/0.9446 upleg so far. Further easing and violation of 0.9350 zone, yesterday’s higher low and 50% retracement, would sideline near-term bulls off 0.9269 and signal double-top formation. Conversely, finding footstep above 0.9350, is seen as initial signal of higher low formation and renewed attempt at 0.9446, above which to resume near-term corrective rally from 0.9269, 12/11 low. Positive 4-hour studies support the notion, however, regain of key near-term barrier and breakpoint at 0.9541 is required to confirm recovery and **** at 0.9270 zone.

Res: 0.9406; 0.9417; 0.7446; 0.9477

Sup: 0.9378; 0.9351; 0.9330; 0.9300

The Euro slumped close to 1.34 support, erasing a good part of last week’s gains and over 50% of entire rally from 1.3294 to 1.3577. Fresh pressure on the single currency, triggered by fundamentals, turned near-term technical outlook negative. Increased risk of lower top at 1.3577 is seen, as the price approached 1.3400, psychological support / 61.8% of 1.3294/1.3577 upleg. Break here to open way towards 1.3360, daily cloud **** and key supports at 1.33 zone, 07/11 low / 50% retracement of larger 1.2754/1.3831 rally. Narrow consolidation above 1.34 handle is under way, with oversold hourly studies suggesting a break in the recent weakness. The near-term action is for now limited by former platform at 1.3430, with broken bull-trendline off 1.3294 offering next resistance at 1.3460, also near 38.2% of 1.3577/1.3412 / 55DMA at 1.3575. Any stretch higher should be ideally capped at 1.35 zone, 50% retracement and double bearish 10/55 and 20/55DMA’s crossover.

Res: 1.3430; 1.3460; 1.3475; 1.3500

Sup: 1.3412; 1.3400; 1.3360; 1.3294

Cable came under pressure after failure to regain psychological 1.62 barrier and subsequent pullback broke below 1.61 handle, extending losses to 1.6071, 4-hour 55DMA so far. Negative hourly structure keeps the downside at risk, as 4-hour studies are losing momentum that may trigger further weakness, as long as the price holds below 1.61 resistance zone and 10/55; 20/55DMA’s bearish crossover that offers initial and solid resistance. Further easing would face immediate support at 1.6058/53, 19/11 low / 38.2% retracement of 1.5853/1.6177 ascend / daily Kijun-sen line, also near-term consolidation floor, loss of which will be bearish. Conversely, lift above 1.61 handle, would open the upper boundary of near-term congestion and signal possible resumption of the uptrend from 1.5853.

Res: 1.6110; 1.6147; 1.617; 1.6200

Sup: 1.6071; 1.6053; 1.6015; 1.6000

The pair returned to strength and break above near-term consolidation, with fresh extension higher, clearing key barrier at 100.60. The price aims towards psychological 101.00 barrier, with another key hurdle at 101.52, 08/07 peak, expected to come in focus, once 101 is cleared. Near-term studies remain bullish and favor further upside, however, overbought hourly conditions warn of possible hesitation on approach to 101 barrier. Previous highs at 100.60/42, offers immediate supports, while further corrective easing should ideally hold above 100.00/99.80 levels, to keep bulls intact.

Res: 101.00; 101.37; 101.52; 102.00

Sup: 100.60; 100.42; 100.24; 100.00

The pair came under pressure and accelerated losses from 0.9446, where gains were capped by daily 20DMA a double top formed. Fresh weakness that broke below psychological 0.9300 support, threatens full retracement of 0.9269/0.9446 corrective rally, as the price came tick away from this support, with break lower to spark fresh extension of larger downmove from 0.9755, 23/10 peak, towards 0.9221, Fibonacci 61.8% of 0.8891/0.9755 and psychological 0.9200 support. However, oversold hourly studies may trigger consolidative/corrective action. Previous support at 0.9300, offers immediate resistance, ahead of 0.9350, 19/11 low, with stronger corrective rallies to be limited under 0.9400, psychological barrier / 20/55DMA’s bearish crossover.

Res: 0.9300; 0.9333; 0.9350; 0.9400

Sup: 0.9269; 0.9221; 0.9200; 0.9187

The Euro steadies above 1.35, closing for the week at 1.3555. The rally nearly fully retraced 1.3577/1.3398 corrective pullback, on a session high at 1.3559, with positive near-term technicals being supportive for eventual push through 1.3577, 20/11 high, break of which to resume near-term recovery rally from 1.3294, 07/11 low that so far retraced over 50% of 1.3831/1.3294 descend. On the other side, daily bulls are still sidelined and caution is required in case of stall under 1.3577, as the price struggles at broken bull trendline off 1.2754, currently at 1.3550. Initial support at 1.3500 should ideally hold corrective dips, while extension lower and violation of 1.3460, higher low / 61.8% of 1.3398/1.3559, would risk return to key near-term support at 1.3398, 21/11 low.

Res: 1.3559; 1.3577; 1.3600; 1.3645

Sup: 1.3533; 1.3500; 1.3461; 1.3444

Cable continues to trend higher and extends near-term rally from 1.5853, 12/11 low, with key barriers at 1.6254/59 coming in focus, as the price sustained break above 1.6200 barrier and closed for the week at 1.6220. Bullish tone dominates on short-term studies, however, hesitation on approach to important barrier at 1.6259 that also marks multi-month range top, cannot be ruled out. The notion is supported by extended near-term conditions. Corrective dips should be ideally contained above 1.61 handle to keep the structure intact, with break above 1.6259 peak to open fresh bull-phase and focus psychological 1.6300 barrier initially, with full retracement of 1.6380/1.4812, 2012/2013 bear-phase, seen on extension to 1.6380, 02/01 2013 peak.

Res: 1.6239; 1.6254; 1.6259; 1.6300

Sup: 1.6200; 1.6180; 1.6150; 1.6107

The pair remains well supported and rallies higher, following positive weekly close and clearance of important barrier at 101.52, 08/07 peak. The price approaches psychological 102.00 barrier, en-route towards 102.48/52, 28/29 / 05 peaks, with key short-term resistance at 103.72, 22/05 annual high, expected to come in near-term focus. Technicals remain positive and favor further upside, with corrective pullback on overbought conditions, expected to interrupt rally. Immediate supports lay at 101.60/34, ahead of psychological 101.00 support and higher platform that offers solid support, reinforced by 4-hour 20DMA.

Res: 102.00; 102.50; 103.00; 103.29

Sup: 101.60; 101.34; 101.00; 100.60

The pair remains under pressure, as acceleration from 0.9446 double-top, below 0.9220/00 support zone, 61.8% retracement of 0.8991/0.9755 ascend / round figure support, approaches psychological support and Fibonacci 76.4% of 0.8891/0.9755 upleg at 0.9100. Negative sentiment continues to drive the price lower, as technicals on lower and larger timeframes maintain negative tone and see scope for full retracement of 0.8891/0.9755 upleg. Oversold near-term conditions, however, may delay immediate bears. Corrective rallies to find immediate resistance at 0.9187, session high and psychological 0.9200 level, ahead of strong 0.9270 resistance, 12/14/ 11 platform, expected to ideally limit corrective rallies.

Res: 0.9187; 0.9200; 0.9248; 0.9270

Sup: 0.9119; 0.9095; 0.9068; 0.9036