The Euro has established positive near-term tone on a bounce from 1.3480 zone, where the pair built a ****. Extension above 1.36 barrier retraced over 61.8% of 1.3738/1.3475 downleg, on extension to 1.3642, keeping the upside in near-term focus. Fresh strength attempts to cover overnight minor gap, to extend the upleg from 1.3550 higher low, towards next hurdles at 1.3680/1.3700, 50% of 1.3892/1.3475 / 14 Jan peak, clearance of which to expose important resistance and breakpoint at 1.3735, Fibonacci 61.8% retracement / 24 Jan peak and daily cloud top. Near-term studies remain positive and support further bulls. Initial support lies at 1.3615, session low, ahead of 1.3600 support, daily Kijun-sen line, near daily cloud **** and 1.3580, Fibonacci 38.2% of 1.3482/1.3642 rally, where corrective dips should be ideally contained. Only break below 1.3550 higher low would neutralize near-term bulls.

Res: 1.3642; 1.3635; 1.3680; 1.3700

Sup: 1.3615; 1.3600; 1.3580; 1.3550

Cable’s near-term structure improved, as the price broke above 1.6350 congestion top and probed above 1.64 barrier, where near-term consolidation is under way. Fresh bulls on 4-hour chart are supportive for further recovery towards Fibonacci resistances of 50% and 61.8% of 1.6623/1.6250 at 1.6437 and 1.6481. However, regain of 1.6500 barrier is required to shift focus towards the upper limits of near-term congestion. Otherwise, more downside risk could be anticipated in case of failure to sustain break above 1.64 handle. Overbought hourly studies warn of correction, with previous range tops at 1.6350, also near Fibonacci 38.2% retracement of 1.6250/1.6426 rally, seen as ideal reversal point.

Res: 1.6426; 1.6437; 1.6481; 1.6500

Sup: 1.6390; 1.6359; 1.6338; 1.6300

The pair remains in near-term corrective phase off 100.74, with fresh extension higher peaking at 102.63, above 38.2% retracement of 105.43/100.74 descend. Overnight gap-higher was expected to confirm bulls, however, pullback that filled the gap and pressures psychological 102 support, suggests more significant corrective action. Break below 102 handle, also near 38.2% of 100.79/102.63 rally, reinforced by hourly 55SMA, would be seen as a trigger for further easing towards 101.75, previous congestion top and 50% retracement and 101.50, 61.8%, below which bears are expected to take control. Resumption of the uptrend through 102.63 peak, opens lower top at 102.92 and 103.09, 50% retracement of 105.43/100.74 and key near-term barrier at 103.43, 29 Jan lower top in extension.

Res: 102.45; 102.63; 102.92; 103.09

Sup: 101.90; 101.75; 101.50; 101.00

The pair consolidates recent gains that peaked ticks below psychological 0.9000 barrier, with near-term price action being so far contained at 0.8920. Hourly studies, however, are turning negative and 4-hour indicators losing traction that indicates corrective action in the near-term. Break below initial 0.8920/00 supports, is expected to open hourly higher **** 0.8870, also Fibonacci 38.2% of 0.8658/0.8998 ascend and reinforced by 4-hour 55SMA, where the pullback should find a footstep and keep near-term bulls in play. On the upside, lift above 0.9000 barrier is required to open key resistance at 0.9084, 13 Jan peak, while alternative scenario sees loss of 0.8870 handle as a trigger for further easing that would sideline near-term bulls.

Res: 0.8998; 0.9056; 0.9084; 0.9100

Sup: 0.8920; 0.8900; 0.8870; 0.8820

The Euro’s corrective phase off 1.3480 **** rides on the third wave that commenced from 1.3550 and reached nearly 100% Fibonacci expansion, on fresh extension to 1.3677. The wave could travel to 1.3738, 24 Jan peak, also its 138.2% expansion, once the price clears initial 1.3685 resistance, lover platform of 28/29 Jan / Fibonacci 100% expansion. Positive near-term technicals support the notion, however, overbought conditions on lower timeframes, see corrective action before fresh push higher. Initial supports at 1.3620, yesterday’s higher platform and 1.3600, Fibonacci 38.2% of 1.3482/1.3677 rally, should ideally keep the downside protected, as 20/55 SMA’s bullish cross at 1.3575 underpins.

Res: 1.3680; 1.3700; 1.3738; 1.3800

Sup: 1.3620; 1.3600; 1.3580; 1.3550

Cable’s near-term structure remains positive but the price lack momentum for sustained break above 1.64 handle, as near-term price action stays congested within 1.6380/1.6433 range. The upside is for now capped by daily Ichimoku cloud top / Tenkan-sen line and 20SMA, while hourly 55SMA protects the downside. Lift above initial 1.6433 hurdle is required to confirm resumption of bull-leg from 1.6250 **** and open 1.6459, 50% of 1.6623/1.6250, with psychological 1.6500 hurdle, also Fibonacci 61.8%, seen in extension. Slide under 1.6380 ****, would delay, while extension below 1.6350, previous consolidation top, would neutralize near-term bulls.

Res: 1.6433; 1.6459; 1.6500; 1.6524

Sup: 1.6380; 1.6363; 1.6350; 1.6320

The pair remains steady as extension of corrective phase off 100.74, peaked at 102.63, above 38.2% retracement of 105.43/100.74 descend, with subsequent consolidation under way. Corrective dips were so far contained at psychological 102.00 support, reinforced by 4-hour 20SMA, with near-term price action moving within 102.00/40 range. Hourly studies are neutral, while positive tone prevails on 4-hour chart and keeps near-term focus at the upside. Fresh strength through 102.63 to open 102.92/103.09, 31 Jan lower top / Fibonacci 50% of 105.43/100.74, with regain of key 103.43 lower top of 29 Jan, required to complete 103.43/100.74 descend and confirm bottom at 100.74, for stronger recovery. Otherwise, loss of 102.00 handle and next significant support at 101.75, would soften near-term tone and risk further easing.

Res: 102.39; 102.63; 102.92; 103.09

Sup: 102.00; 101.75; 101.50; 101.00

The pair resumes rally from 0.8658 low, as completion of near-term consolidative phase resulted in break above psychological 0.9000 barrier. This open way for extension towards key near-term barrier at 0.9084, 13 Jan peak / near Fibonacci 38.2% retracement of 0.9755/0.8658, to complete 0.9084/0.8658 bear-phase and confirm near-term **** for further retracement of multi-month descend from 0.9755 to 0.8658. Positive near-term studies remain supportive for such scenario, however, corrective action on overbought conditions is likely to precede final push to 0.9084 target. Initial support lies at 0.8900 higher platform, ahead of 0.8870, which should not be exceeded in case of stronger pullback.

Res: 0.9056; 0.9084; 0.9100; 0.9165

Sup: 0.9000; 0.8940; 0.8900; 0.8870

The Euro moves in the fourth corrective wave, after the third wave off 1.3550 higher low, met its 100% Fibonacci expansion at 1.3680. Corrective pullback should be ideally contained at 1.3620 zone, *****alent to the length of the second wave, near 50% retracement of 1.3550/1.3682 upleg and broken bull-trendline off 1.3738, to keep immediate bulls intact. The fifth wave is expected to travel to its initial target at 1.3740, 138.2% expansion and previous peak of 24 Jan, above which to open significant 1.38 resistance zone. Alternatively, slide below 1.36 support, also Fibonacci 61.8% of 1.3550/1.3682, would neutralize wave principles and trigger fresh weakness towards 1.3550, 02 Feb higher low and 1.35 **** in extension.

Res: 1.3682; 1.3700; 1.3738; 1.3800

Sup: 1.3620; 1.3600; 1.3580; 1.3550

Cable’s near-term structure remains positive, as the price eventually broke above near-term congestion between 1.6380 and 1.6435, peaking at 1.6486 so far. Positive near-term studies support attempt through psychological 1.65 barrier, near 61.8% retracement of 1.6668/1.6250 descend, to re-focus key resistances at 1.6623 and 1.6668, 28 / 24 Jan peak and confirm **** at 1.6250. Daily cloud top at 1.6434 offers immediate support, ahead of strong 1.6400/1.6380 support zone, where 4-hour 20/55SMA’s bull-cross underpins.

Res: 1.6433; 1.6459; 1.6500; 1.6524

Sup: 1.6438; 1.6400; 1.6380; 1.6340

The pair remains steady and posted marginally higher high at 102.69 on extension of corrective phase off 100.74. Consolidative action is signaled by reversing hourly indicators, however, overall bullish tone keeps the upside in focus, with next targets at 102.84 and 103.09, Jan lower top / Fibonacci 50% of 105.43/100.74 and key 103.43 lower top of 29 Jan, seen in extension. To maintain positive structure, higher **** at 102 zone, should keep the downside protected. Otherwise, break lower would weaken the structure and trigger fresh weakness.

Res: 102.69; 102.92; 103.09; 103.43

Sup: 102.35; 102.00; 101.75; 101.50

The pair resumes rally from 0.8658 low and stabilizes above psychological 0.9000 barrier. Fresh bulls approach key near-term barrier at 0.9084, 13 Jan peak / near Fibonacci 38.2% retracement of 0.9755/0.8658, to complete 0.9084/0.8658 bear-phase and confirm near-term **** for further retracement of multi-month descend from 0.9755 to 0.8658. Positive near-term studies support the notion. Corrective dips would face solid support at 0.9000, where the price built a higher ****, also 38.2% retracement of 0.8906/0.9066 upleg, with key support and pivotal point laying at 0.8900 higher platform / Fibonacci 38.2% retracement of the entire 0.8658/0.9066 rally.

Res: 0.9066; 0.9084; 0.9100; 0.9165

Sup: 0.9046; 0.9000; 0.8965; 0.8940

The Euro nearly fully recovered yesterday’s losses, when the price accelerated lower after losing 1.3620/00 support. Sharp fall found support at 1.3561, Fibonacci 61.8% retracement of 1.3482/1.3682 rally, with subsequent bounce to 1.3636 so far, marking 61.8% retracement of two-legged descend from 1.3682 to 1.3561. Hourly studies are weak, while 4-hour indicators stand at their midlines. Regain of yesterday’s high at 1.3651 is required to confirm reversal and avert risk of lower top formation and fresh slide, as the price broke above bear-trendline off 1.3680 peak. Initial support at 1.3600, Fibonacci 38.2% of 1.3561/1.3636 upleg and hourly 10/20 SMA’s bull-cross, should ideally contain corrective dips. Break above 1.3651 to confirm higher low at 1.3561 and re-focus peaks at 1.3680 zone. Alternatively, loss of 1.36 handle would keep near-term bears in play. Next supports lay at 1.358 higher **** / daily Tenkan-sen and key level at 1.3561, yesterday’s low.

Res: 1.3651; 1.3682; 1.3700; 1.3738

Sup: 1.3600; 1.3580; 1.3561; 1.3530

The pair maintains bullish near-term structure, with eventual break above psychological 1.66 barrier, signals attempt for full retracement of 1.6668/1.6250 bear-leg. As the price regains the last hurdle at 1.6623, the way opens towards 1.6668, year-to date high and break here to trigger resumption of multi-month uptrend from 1.4812, 2013 low, towards next hurdles at 1.6737/45, 2011 peaks. Positive near-term studies are supportive, with hesitation on approach to the key barrier at 1.6668, seen on overbought lower timeframes studies. Key near-term supports lay at 1.6500/1.6480 and should contain any stronger pullbacks.

Res: 1.6668; 1.6700; 1.6737; 1.6745

Sup: 1.6600; 1.6570; 1.6534; 1.6500

The pair remains within near-term consolidative range, with near-term studies losing traction, as the price cracked the range floor at 102 zone, following repeated upside rejection at 102.69. Hourly indicators moved into negative territory, with 4-hour studies losing momentum that keeps the downside at risk. Firm break below 102 handle, also 38.2% retracement of 100.74/102.69 corrective rally, would further weaken the structure for extension towards supports at 101.50, Fibonacci 61.8% and 101.20 higher low, to confirm lower top formation. On the upside, clearance of initial 102.69 barrier and regain of 102.92/103.07 hurdle is required to neutralize and signal resumption of near-term recovery rally from 100.74 low.

Res: 102.20; 102.69; 102.92; 103.09

Sup: 101.95; 101.75; 101.50; 101.20

The pair fell sharply after losing 0.9000 handle, with acceleration lower, finding support at 0.8926, where daily 55SMA contained fall, keeping important 0.8900 support, higher platform / Fibonacci 38.2% retracement of 0.8658/0.9066 rally intact for now. Near-term studies are weaker, however, bulls are still present on 4-hour chart studies that keeps larger picture bullish outlook intact for fresh attempt higher. Bounce requires regain of 0.9000 barrier, also 50% of entire 0.9066/0.8926 fall, to avert downside risk and confirm higher low at 0.8926. Conversely, loss of 0.89 handle, would further weaken near-term tone and signal further correction, with next good support laying at 0.8870, 05 Feb higher low / daily Tenkan-sen / Kijun-sen bull-cross.

Res: 0.8980; 0.9000; 0.9033; 0.9066

Sup: 0.8926; 0.8900; 0.8870; 0.8824

The Euro remains steady and eventually broke above psychological / daily cloud top 1.37 barrier, on fresh extension to 1.3723. Clearance of the last obstacle at 1.3715, 27 Jan high, opens way towards key barrier and 24 Jan peak at 1.3738 and near Fibonacci 61.8% retracement of 1.3892/1.3475 descend. Completion of 1.3738/1.3475 bear-phase is expected to trigger fresh rally, as the third wave that commenced from 1.3561 higher low, broke above its 76.4% expansion, aiming towards 1.3765, 100% Fibonacci expansion, regain of which to validate wave principles. The wave could travel to 1.3842, its 138.2% expansion, once 1.3765 barrier is cleared, with interim resistances laying at 1.38 zone, previous tops of Oct/Dec 2013. Technical outlook is positive and favors further upside, with consolidative phase near 1.37 handle, expected to precede fresh leg higher. Initial support lies at 1.3680, previous peak / minor platform, ahead of 1.3660, Fibonacci 38.2% of 1.3561/1.3723, where dips should find solid support.

Res: 1.3723; 1.3738; 1.3765; 1.3800

Sup: 1.3680; 1.3660; 1.3620; 1.3600

The pair continues to trend higher, with completion of 1.6668/1.6250 corrective phase, sparking fresh extension that rallied through the next targets at 1.6737/45, also cracking psychological 1.6800 resistance. Strong bulls are expected to pause for corrective pullback, as 4-hour studies are overextended and hourly RSI emerging from overbought territory. Corrective action faces initial supports at 1.6700 and previous peaks at 1.6670 zone, also Fibonacci 38.2% of 1.6424/1.6821 upleg, where dips should be ideally contained. On the upside, next target lies at 1.6877, Nov 2009 peak, above which to expose psychological 1.7000 resistance. Only stronger pullback below 1.66 handle, also Fibonacci 38.2% of larger 1.6250/1.6821 rally, would sideline near-term bulls.

Res: 1.6800; 1.6821; 1.6877; 1.6900

Sup: 1.6730; 1.6700; 1.6670; 1.6620

The pair remains under pressure, as fresh weakness below102.00/101.75 handles, retraced over 61.8% of 100.74/102.69 upleg, on a dip to 101.37 so far, after the price cracked daily cloud **** at 101.44. Near-term structure is negative and keeps the risk of extension below 101.20, Fibonacci 76.4% / 100SMA and psychological 100.00 support, for retest of key near-term support and **** at 100.70 zone. Corrective actions, however, are expected to interrupt bears, with initial barrier at 102.00, lower platform / 50% of 102.69/101.37 descend, ahead of 102.20, Fibonacci 61.8% retracement. Only break above 102.39, 14 Feb lower top / daily 20SMA, would improve near-term structure and shift focus towards 102.69 peak.

Res: 102.00; 102.39; 102.69; 102.92

Sup: 101.70; 101.37; 101.20; 101.00

The pair holds positive near-term tone, as rally from 0.8926, 13 Feb low, reached 0.9068, fully retracing corrective 0.9066/0.8926 phase. Positive near-term technicals are supportive for renewed attempt at key near-term barrier and breakpoint at 0.9084, 13 Jan high, clearance of which to complete 0.9084/0.8658 bear-phase and confirm **** for possible stronger recovery. Break higher to open 0.9100, ahead of 0.9149, 100SMA and 0.9165, 10 Dec 2013 high. Corrective actions face good support at 0.9000 zone, higher platform / Fibonacci 38.2% of 0.8926/0.9068 upleg, with stronger pullback required to hold above strong 0.89 support zone, higher **** and Fibonacci 38.2% of entire recovery rally from 0.8658 to 0.9068.

Res: 0.9068; 0.9084; 0.9100; 0.9149

Sup: 0.9000; 0.8964; 0.8926; 0.8900

The Euro remains in consolidative sideways mode around 1.37 handle, confirmed by yesterday’s Doji candle. The price action moves within 1.3690/1.3723 range, with neutral tone prevailing on hourly studies. On the other side, bullish 4-hour structure keeps the upside favored for fresh extension through pivotal 1.3738 peak, to resume larger uptrend off 1.3480 zone, towards targets at 1.3765, Fibonacci 100 expansion of the wave from 1.3561 and previous congestion tops at 1.38 zone in extension. The downside is for now protected by hourly 55SMA, with possible further easing required to hold above 1.3660, Fibonacci 38.2% retracement of 1.3561/1.3723 upleg / bull-trendline off 1.3482, to keep near-term bulls intact.

Res: 1.3723; 1.3738; 1.3765; 1.3800

Sup: 1.3690; 1.3660; 1.3620; 1.3600

The pair enters corrective phase after fresh bulls cracked 1.68 barrier and peaked at 1.6821, levels last time visited in Nov 2009. Corrective easing probed 1.67 handle, with dips being so far contained by hourly 55SMA. Hourly indicators are reversing higher, while positive 4-hour studies maintain overall bullish tone. However, further easing through 1.6670, previous peaks and Fibonacci 38.2% of 1.6424/1.6821, would keep near-term bulls in play, while the price holds above 1.66 handle, 38.2% retracement of 1.6250/1.6821 rally. Extension above 1.6821 opens next targets at 1.6877, Nov 2009 peak and 1.6900, break of which to bring psychological 1.7000 resistance in focus.

Res: 1.6800; 1.6821; 1.6877; 1.6900

Sup: 1.6694; 1.6670; 1.6620; 1.6600

The price accelerated higher from 101.75 higher low and fully retraced 102.69/101.37 descend on extension to 102.73 so far. This sidelines downside risk and turns near-term focus higher, as 4-hour indicators are breaking into positive territory. Sustained break above 102.70 is required to confirm higher low at 101.75 and resume recovery off 100.74, towards 103.09, 50% retracement of 105.43/100.74 descend and lower top of 29 Jan at 103.43 in extension. However, overbought hourly conditions suggest corrective action should precede fresh rally, with 102.20, Fibonacci 38.2% of 101.37/102.73, seen as ideal reversal point to keep fresh bulls intact. Alternatively, extension below 102 handle, round figure support / 50% retracement, is expected to neutralize bulls.

Res: 102.69; 102.92; 103.09; 103.43

Sup: 102.40; 102.20; 102.00; 101.75

The pair consolidates recent gains off 0.8926 low that peaked at 0.9079. Consolidative range is established within 0.9015 and 0.9079, with near-term term price action being near the lower boundary, following repeated upside rejection that left marginally higher high at 0.9079. Further easing below 0.9000 handle and trendline support at 0.8990 would delay immediate bulls and keep the price within larger congestion of 0.8900/0.9079 and only break below 0.8900 zone, higher platform / Fibonacci 38.2% of 0.8658/0.9079 would neutralize. Near-term studies are losing traction and support such scenario. However, overall bullish tone sees fresh extension of recovery rally, once consolidative action is completed. Break above pivotal 0.9084 barrier to open 0.9146, 100SMA and 0.9165, 10 Dec 2013 high.

Res: 0.9079; 0.9084; 0.9146; 0.9165

Sup: 0.9013; 0.9000; 0.8984; 0.8926