The Euro returns to strength and regains levels above 1.35 handle, following yesterday’s pullback from 1.3559 to 1.3489, where 4-hour 55DMA contained dip. The price consolidated near session high at 1.3540, as near-term bulls are gaining traction after hourly indicators returned to positive territory. Fresh extension higher faces immediate resistance at 1.3577, 20/11 recovery peak, with break here to resume recovery off 1.3294 and open 1.3600, round figure resistance and 1.3626, Fibonacci 61.8% of 1.3831/1.3294 descend. However, daily studies maintain neutral/negative tone and require caution in case of price’s failure to clear 1.3577/1.3600 hurdles. Increased downside risk would be seen on a slide below 1.3500/1.3489, with extension below 1.3460, 22/11 higher low / 61.8% retracement of 1.3398/1.3559, to signal double-top formation.

Res: 1.3577; 1.3600; 1.3626; 1.3645

Sup: 1.3510; 1.3489; 1.3461; 1.3444

Cable’s near-term price action came under pressure after strong rally stalled on approach to critical barriers at 1.6254/59 and subsequent pullback to 1.6132 retraced 61.8% of 1.6071/1.6239 upleg. Formation of bearish reversal pattern increases downside risk, with extension and close below 1.61 handle, required to confirm. Hourly studies are negative, while larger picture remain bullish that keeps the upside targets in near-term focus, with regain of psychological 1.62 barrier, seen as a signal for renewed attempt higher. Otherwise, slide below 1.61 and more significant 1.6071, 21/11 higher low / daily cloud top, would shift near-term focus lower and confirm further range trading.

Res: 1.6200; 1.6215; 1.6239; 1.6259

Sup: 1.6144; 1.6132; 1.6107; 1.6071

The pair trades in near-term consolidative mode, after posting fresh high at101.90 yesterday. Initial support at 101.30, Fibonacci 23.6% of 99.56/101.90, so far contained, however, weak hourly and 4-hour indicators descending from overbought territory, suggest that correction lower may extend. Next strong support lay at 101.00, higher platform / Fibonacci 38.2%, ahead of 100.73, 50% and 100.60, previous peak, where stronger pullback should find support. Resumption of the uptrend through 102.00, opens 102.48/52, 28/29 / 05 peaks next, ahead of 103.10, Fibonacci 161.8% projection and key barrier at 103.72, 22/05 yearly high.

Res: 101.70; 102.00; 102.50; 103.00

Sup: 101.35; 101.00; 100.60; 100.42

The pair enters near-term consolidative phase after posting fresh low at 0.9119, with initial 0.9200 resistance capping the upside for now. Improved hourly structure sees scope for further recovery, with additional support given from 4-hour indicators that emerge from oversold zone. Extension above 0.9200 opens 0.9244, Fibonacci 38.2% of 0.9446/0.9119, ahead of strong 0.9270/80 zone, previous lower platform and 50% retracement, where rallies should be limited. Only sustained break above 0.9300 barrier would sideline immediate bears. Overall bears, however, remain in play and are expected to resume larger downmove once corrective phase is completed, with 0.9100 seen as immediate support, ahead of key short-term support and breakpoint at 0.8891, 30/08 low.

Res: 0.9200; 0.9248; 0.9270; 0.9300

Sup: 0.9177; 0.9141; 0.9119; 0.9095

The Euro maintains positive sentiment, as clearance and daily close above previous high at 1.3577, probed levels above psychological 1.3600 barrier. Subsequent consolidation was contained by 55DMA at 1.3560, with further easing on weak hourly studies, allowed towards 1.3530/00, Fibonacci 38.2% and 50% retracement of 1.3398/1.3611 upleg, before bulls return to play. Positive scenario is supported by bullish 4-hour studies, as well as daily indicators breaking above the midlines that favor further upside in the near-term. Immediate target lies at 1.3626, Fibonacci 61.8% retracement of 1.3831/1.3294 descend, ahead of 1.3645, Fibonacci 138.2% projection / previous peak of 03/10 and 1.3710, 02/01 peak / Fibonacci 76.4% retracement. Alternative scenario see loss of 1.35 handle to weaken near-term structure and trigger stronger pullback towards 1.3450, 50% retracement of larger 1.3294/1.3611 ascend and 1.3398, 21/11 higher low, in extension.

Res: 1.3600; 1.3611; 1.3626; 1.3645

Sup: 1.3557; 1.3520; 1.3500; 1.3489

Cable eventually broke above two-month congestion top at 1.6259, with daily close above here, confirming bullish resumption of larger uptrend from 1.4812 that was delayed by 1.6259/1.5853 consolidation. Break above the next hurdle at 1.6300, with 1.6329 seen so far, sees scope for final push towards key med-term resistance at 1.6380, 02/01 annual peak, as completion of 1.6380/1.4812 bear-phase, would look for fresh extension higher, as the price cracked 1.6292, bear-trendline drawn off 1.7041, 2009 high. Near-term technicals maintain positive tone, however, overextended conditions suggest hesitation on approach to key hurdle at 1.6380. Previous high at 1.6259/54 offer solid support, ahead of psychological 1.6200 support and 1.6135 higher platform.

Res: 1.6329; 1.6380; 1.6400; 1.6453

Sup: 1.6255; 1.6239; 1.6200; 1.6135

The pair remains steady and posts fresh highs above 102.00 level that now offers initial support. Overbought near-term conditions, see corrective action as likely near-term scenario, before bulls resume larger uptrend. Psychological 103.00 barrier and annual peak at 103.82, remain as near-term targets. However, caution is required, as daily studies enter overbought territory. Corrective extension below initial 102 support zone, session low / 25/11 previous high, to open more significant 101 zone higher platform, loss of which would sideline near-term bulls.

Res: 102.26; 102.50; 103.00; 103.50

Sup: 102.00; 101.80; 101.13; 101.00

The pair posted fresh low at 0.9064 yesterday, after losing psychological / Fibonacci 0.9100 support, with subsequent bounce above the latter, being triggered by oversold conditions. Extension to 0.9139 cracked initial resistance and lower platform at 0.9133, with hourly studies turning positive and completion of hourly cup and holder pattern, suggesting further recovery, with the notion being supported by bullish divergence on lower timeframes. Sustained break above 0.9139, where 4-hour 20DMA capped for now, is required to open more significant 0.9200 resistance zone, 26/11 upside rejection and Fibonacci 38.2% of 0.9446/0.9064 / 55DMA. Only break here to signal stronger corrective action and sideline bulls. Conversely, failure under 0.9200 barrier would risk formation of lower top and fresh bears, with break below 0.9064 to open psychological 0.9000 support.

Res: 0.9139; 0.9177; 0.9200; 0.9255

Sup: 0.9116; 0.9100; 0.9064; 0.9036

The Euro consolidates above fresh lows at 1.3520, following sharp fall from 1.36 zone, where the larger rally stalled. Formation of hourly H&S pattern sees more downside risk, with further acceleration expected on a break below strong support at 1.3500, round figure support / daily 20DMA / Tenkan-sen line. Losses below 1.35 handle to open another strong support at1.3460 zone, 50% retracement of 1.3294/1.3620 / daily cloud ****, with higher low at 1.34 seen in extension. Negative near-term technicals support the scenario, with initial resistance at 1.3559, Fibonacci 38.2% of 1.3614/1.3523 fall being cracked for extension towards 1.3579, yesterday’s higher platform and 61.8% retracement, regain of which to sideline immediate downside risk and shift focus towards upside targets at 1.3600/20.

Res: 1.3579; 1.3600; 1.3620; 1.3626

Sup: 1.3523; 1.3500; 1.3457; 1.3420

Cable dipped about hundred pips on a corrective pullback from yesterday’s fresh high at 1.6441 and found temporary footstep at 1.6340, 4-hour 20DMA where near-term basing attempt is seen. Positive 4-hour studies see the upside in focus, with regain of 1.6400 handle requested to confirm **** formation. Bulls may be delayed for further consolidation, as hourly studies are weak, however, further dips should not exceed psychological 1.6300 support, near 50% retracement of 1.6137/1.6441 upleg and previous congestion tops at 1.6360 zone, in order to keep larger bulls intact. Break above 1.6441 to open psychological 1.6500 barrier next.

Res: 1.6400; 1.6441; 1.6500; 1.6550

Sup: 1.6340; 1.6325; 1.6300; 1.6256

The pair maintains positive tone, as fresh extension of the upleg from 101.13 cracked psychological 103.00 barrier and posted new high at 103.36, en-route towards key resistance and short-term target at 103.72, 103.72, 22/05 yearly high. Near-term studies are bullish, but overbought conditions suggest possible hesitation on approach to 103.72. Initial supports lay at 102.61, previous high and 102.00, former consolidation floor, below which, bulls may be put on hold for deeper corrective pullback towards 101 zone.

Res: 103.36; 103.50; 103.72; 104.00

Sup: 102.82; 102.61; 102.21; 102.10

The pair came under increased pressure after recovery rally stalled ahead of important 0.9200 barrier and subsequent pullback through 0.9100 support, fully retraced 0.9054/0.9167 corrective rally. Previous low at 0.9054 so far contained weakness, with basing attempt being in play, despite negative near-term technicals, as RSI / MACD bullish divergence builds up on 4-hour chart. However, to confirm such scenario and avert downside risk towards psychological 0.9000 support, bounce through initial barrier at 0.9100 and regain of 0.9167/0.9200 hurdles, is required.

Res: 0.9100; 0.9131; 0.9148; 0.9167

Sup: 0.9064; 0.9054; 0.9000; 0.8950

The Euro’s near-term price action remains capped at 1.36 zone, following renewed attempt higher that was rejected at 1.3614. Lack of strength to sustain break above 1.36 barrier, signals further consolidation, as the downside is for now protected above 1.35 support, where the price left higher **** at 1.3520. Neutral 4-hour studies support the notion, as hourly indicators still hold above the midlines, with threat of further easing, seen on a violation of 1.3520/00 support zone, where daily 20DMA and Tenkan-sen reinforce support that also marks Fibonacci 38.2% retracement of 1.3294/1.3620 upleg. Break lower to expose mid-point of entire rally at 1.3457 and more significant 1.3419, 61.8% retracement and 1.3398, 21/11 higher low, seen in extension. Alternatively, clear break above 1.3600/20 hurdles is required to resume bulls towards 1.3650, daily cloud top, 1.3679, Fibonacci 100% expansion of the wave from 1.3398 and 1.3710, 01/02 previous peak.

Res: 1.3596; 1.3620; 1.3626; 1.3650

Sup: 1.3560; 1.3545; 1.3523; 1.3500

Cable trades in near-term consolidative mode, after pullback from fresh high at 1.6441 was contained by 4-hour 20DMA at 1.6340. Overall positive structure sees further upside as favored, however, further consolidation above 1.6340 cannot be ruled out, before fresh attempt higher, with break above 1.6441, to open 1.6500 next. Increased downside risk will be seen on break below 1.6340 higher **** and 1.6300 support, near 50% retracement of 1.6137/1.6441/ 4-hour 55DMA, as well as previous congestion tops at 1.6260 zone, loss of which to confirm stronger correction.

Res: 1.6400; 1.6435; 1.6441; 1.6500

Sup: 1.6340; 1.6325; 1.6300; 1.6289

The price is gaining traction after quick pullback from fresh high at 103.36 found ground at 102 zone, where 4-hour 55DMA contained dips and subsequent bounce heading towards psychological 103 barrier. Hourly indicators are at their midlines, while 4-hour structure remains positive that supports fresh attempt at 103.00/36, above which to resume rally towards key resistance and short-term target at 103.72, 22/05 yearly high.

Res: 103.00; 103.36; 103.50; 103.72

Sup: 102.21; 101.96; 101.34; 101.13

The pair remains under increased pressure after yesterday recovery attempt stalled at 0.9145 and two-legged sharp fall approaches next downside target and psychological support at 0.9000. Completion of near-term consolidative phase above 0.9054 platform, triggered fresh leg lower, with initial support at 0.9000 and key short-term supports at 0.8891/46, expected to come in focus once 0.9000 is lost. Overextended hourly studies, however, may delay bears and signal hesitation ahead of 0.9000 handle, with rallies expected solid barriers at 0.9050/70 zone, before fresh push lower.

Res: 0.9054; 0.9071; 0.9100; 0.9131

Sup: 0.9000; 0.8950; 0.8900; 0.8891

The Euro continues to trend higher and posts fresh six-week highs, after break and close above the last barrier at 1.3710 opens way towards key resistance and annual high at 1.3831. The advance is supported by risk-on mode and positive sentiment that favors eventual push to 1.3831, as extension of the third wave from 1.3398 focuses its 138.2% expansion at 1.3786, as the wave could travel to 1.3852, 161.8% Fibonacci expansion, once the price clears key obstacle at 1.3831. Near-term studies are bullish but overbought that suggests hesitation on approach to the target, with immediate supports at 1.3733, session low / 20DMA and 1.3710/00, previous peak / round figure support / 55DMA. More significant supports lay at 1.3675, 05/12 peak / Fibonacci 38.2% retracement of 1.3527/1.3767 upleg and 1.3650, higher platform / 50% retracement and 1.3620, previous congestion tops / Fibonacci 61.8%, where stronger pullbacks should find ground.

Res: 1.3767; 1.3789; 1.3800; 1.3852

Sup: 1.3733; 1.3700; 1.3650; 1.3620

Cable completed near-term corrective phase, after fresh strength from 1.63 zone, where a higher **** has been created, finally broke above previous high at 1.6441, posted on 02/12. Confirmation requires daily close above the latter, with immediate focus being shifted towards 1.6500, psychological barrier and the next target. Positive near-term technicals remain supportive, however, overbought hourly conditions may cause a delay in bull-run, towards initial support at 1.6417, session low / 20DMA and psychological 1.6400 support, also 04/05 / 12 highs and Fibonacci 38.2% retracement of 1.6290/1.6466 upleg. Key near-term support lies at 1.6300 higher platform and only violation of this support would trigger stronger pullback and sideline bulls.

Res: 1.6466; 1.6500; 1.6550; 1.6571

Sup: 1.6417; 1.6400; 1.6368; 1.6322

The pair returned to strength, with extension of the upleg from 101.60 ****, completing near-term corrective phase from 103.36 to 101.60. Cracking 103.36 barrier and 03/12 previous high, sees scope for eventual push towards key barrier at 103.72, 22/05 peak, to complete 103.72/93.78, short-term corrective phase and resume larger rally towards 104.20/50, next targets and psychological 105.00 barrier in extension. Positive tone prevails on near-term technicals, however, approaching overbought zone, suggests consolidative action ahead of 103.72 hurdle. Immediate supports lay at 103.15, 20DMA and 103.00, round figure support / 55DMA, ahead of 102.70, 38.2% retracement of 101.60/103.38 upleg and 102.50, 50% retracement, reinforced by ascending 4-hour 55DMA, where dips should find footstep.

Res: 103.38; 103.72; 104.00;

Sup: 103.15; 103.00; 102.70; 102.50

Near-term price action got congested within 0.9070/0.9115 range, following corrective rally rejection at 0.9128 and subsequent pullback that is so far contained at 0.9070 zone. Weakening hourly studies see the downside at risk, with trigger of fresh weakness on a break below 0.9070, as 4-hour action is still capped by 55DMA and indicators start to point lower. Extension below 0.9070, near-term ****, would signal top at 0.9128, with extension below 0.9040, Fibonacci 61.8% of 0.8988/0.9128 upleg, required to re-focus strong 0.9000 support zone. Alternative scenario required break above initial 0.9128 barrier and more significant 0.9145/69 hurdles, to bring bulls back in play and signal stronger recovery.

Res: 0.9116; 0.9128; 0.9145; 0.9169

Sup: 0.9070; 0.9058; 0.9041; 0.9000