The Euro consolidates recent gains that peaked at 1.3772, with acceleration lower cracking strong 1.3690 support, higher platform and bull-trendline off 1.3482, reinforced by 4-hour 55SMA. Fresh slide weakened hourly structure, however, larger picture bulls will remain in play, while pivotal 1.3690 support holds. Break lower to trigger stronger correction and mark near-term top at 1.3772 that would keep upside targets at 1.3800/30 on hold. Otherwise, fresh attempt higher would remain in near-term agenda.

Res: 1.3723; 1.3761; 1.3772; 1.3800

Sup: 1.3690; 1.3666; 1.3642; 1.3613

Cable’s corrective pullback off fresh high at 1.6821, posted on 17 Feb, attempts to stabilize above important 1.6600, where Fibonacci 38.2% retracement of 1.6250/1.6821 upleg, reinforced by 4-hour 55SMA / daily Tenkan-sen line, offer solid support. However, caution is required, as hourly indicators are in the negative territory and downside risk expected to remain in play while near-term consolidation range tops at 1.6740 cap. Clear break here to bring bulls back in play and signal **** formation. Conversely, deeper correction could be expected on a break below 1.66 handle, loss of which to open 1.6536, 50% retracement of 1.6250/1.6821 and psychological 1.6500 support in extension.

Res: 1.6694; 1.6740; 1.6800; 1.6821

Sup: 1.6635; 1.6600; 1.6536; 1.6500

The pair remains at the back foot, as upside rejection at 102.73 triggered fresh weakness below important 102 support. Corrective rally left lower top at 102.45, confirming reversal, as the price slide below previous low at 101.84, aiming towards trendline support at 101.62, en-route towards key near-term level at 101.37, 17 Feb low, reinforced by 100SMA. Negative hourly studies and 4-hour chart indicators sliding below the midlines, support the notion. Break below 101.37 to complete near-term corrective phase, confirm double-top formation and signal resumption of broader downtrend from 105.43, 02 Jan peak, towards 100.16, 200SMA and psychological 100 support, also Fibonacci 61.8% retracement of 96.55/105.43 rally. To avert immediate downside risk, regain of strong 102.69/73 peaks is required.

Res: 102.00; 102.45; 102.73; 102.92

Sup: 101.62; 101.37; 101.00; 100.42

The pair came under pressure as consolidative action off 0.9079 peak broke under trendline support at 0.9000 and fresh easing nearly fully retraced 0.8926/0.9079 upleg on a dip to 0.8935 so far. Negative tone is re-established on a lower timeframes studies that keeps the downside at risk. Break below initial 0.8900 zone support, higher platform and Fibonacci 38.2% of 0.8658/0.9079 ascend, would be seen as a trigger for stronger pullback, with 0.8870, 50% retracement and 0.8820, Fibonacci 61.8%, seen as next targets. Otherwise, extended consolidation above 0.8900 handle, would be likely near-term scenario. Overall picture remain bullish for now and keeps upside attempts in the near-term favored.

Res: 0.8978; 0.9011; 0.9043; 0.9079

Sup: 0.8935; 0.8926; 0.8900; 0.8870

The Euro Remains steady and continues to move above bull-trendline off 1.3482, after last week’s fall found ground on strong 1.3700/1.3690 support zone. Friday’s inside day candle suggests further upside, as fresh strength aims towards initial targets at 1.3756/61, 21/20 Feb highs, ahead of key near-term hurdle at 1.3772, 19 Feb high. Overnight’s consolidation above 1.37 handle and fresh extension higher, keeps near-term bulls in play, with technicals on lower timeframes maintaining positive tone. Break above 1.3772 to complete 1.3772/1.3685 corrective phase and open way towards 1.3800/30 and 1.3892, 27 Dec 2013 peak in extension, regain of which to complete larger corrective phase from 1.3892 to 1.3475. Initial support lies at 1.3727, ahead of 1.3700 and pivotal 1.3685 platform, loss of which would be bearish.

Res: 1.3756; 1.3761; 1.3772; 1.3800

Sup: 1.3727; 1.3700; 1.3685; 1.3661

Cable remains in near-term descend off fresh peak at 1.6821, approaching important 1.66 support, Fibonacci 38.2% retracement of 1.6250/1.6821 upleg, reinforced by 4-hour 55SMA and daily Tenkan-sen line. Loss of 1.66 handle is required to confirm reversal and trigger stronger pullback, which will put near-term bulls on hold and open 1.6536, 50% retracement of 1.6250/1.6821 and psychological 1.6500 support in extension. Hourly studies are weak, while 4-hour indicators are breaking into negative territory that supports negative scenario. Alternatively, ability to hold above 1.66 handle would keep the pair protected from immediate risk of further easing, with consolidative phase seen preceding fresh attempt higher, as daily bulls remain in play and 1.66 handle seen as ideal reversal point. Regain of near-term breakpoints at 1.6723/40, is required to bring bulls back in play.

Res: 1.6654; 1.6700; 1.6723; 1.6740

Sup: 1.6610; 1.6600; 1.6536; 1.6500

Near-term bulls lost traction after brief break above key 102.69/73 barrier, as the price stalled at 102.82 and subsequent pullback pressures psychological / Fibonacci 50% / daily Tenkan-sen line support at 102.00. With hourly indicators sliding into negative territory, downside risk will remain in play in the near-term. Loss of 102 handle is required to confirm. On the other side, 4-hour studies hold positive tone that sees the upside in focus while the price holds above 102 support and 101.77, bull-trendline off 100.74. Larger picture, however, is neutral, as studies are mixed and price action entrenched within 101.37/102.82 range, with break of either side to define direction.

Res: 102.45; 102.67; 102.82; 103.09

Sup: 102.15; 102.00; 101.77; 101.37

Near-term structure is negative, as the price’s recovery from 0.8935 failed to sustain gains above psychological 0.9000 barrier and subsequent easing fully reversed 0.8935/0.9021 rally. The downside is for now protected by daily cloud ****, however, negatively aligned near-term studies would keep the downside at risk while the price remains capped under 0.9000, daily Tenkan-sen line and 0.9021, 20 Feb peak, break of which is required to bring fresh bulls in play and signal double-bottom formation. Otherwise, violation of strong 0.8930/00 support zone, would spark resumption of reversal from 0.9079, 18 Feb peak.

Res: 0.8986; 0.9000; 0.9021; 0.9043

Sup: 0.8935; 0.8926; 0.8900; 0.8870

The Euro remains unchanged, as near-term price action holds within 1.3700/70 range, trading in directionless mode. Consolidation is expected to precede fresh leg higher, as overall tone remains positive, as the price moves along with bull-trendline drawn off 1.3482 low. Formation of bullish pennant is shown on 4-hour chart, with break above recent congestion tops and trendline resistance, required to complete the pattern and open next targets at 1.3800/30. Trendline support lies at 1.3726, ahead of breakpoints at 1.3700/85, loss of which will be bearish.

Res: 1.3772; 1.3800; 1.3815; 1.3831

Sup: 1.3726; 1.3700; 1.3685; 1.3661

Cable improved near-term structure on extension of recovery rally from fresh low at 1.6582, which cracked psychological 1.6700 barrier and peaked at 1.6725, where the pair ran out of steam. Stall ahead of 1.6740 breakpoint and subsequent pullback to 1.6660, where the price attempts to stabilize above hourly 55SMA, keeps the downside risk in play, as hourly studies are losing momentum. Slide below 1.660 and yesterday’s spike low at 1.6640, would bring important 1.66 support in near-term focus, with violation of the latter to signal fresh extension of pullback from 1.6821 peak. Conversely, attempt to build near-term ****, requires bounce through 1.6700 barrier to avert immediate downside risk and open 1.6725/40 hurdles for test. Studies on 4-hour chart are in neutral mode, with break of either side, required to define near-term direction.

Res: 1.6700; 1.6725; 1.6740; 1.6800

Sup: 1.6660; 1.6640; 1.6600; 1.6582

Near-term price action is at the back foot, as reversal from 102.82, 21 Feb peak, extended and cracked psychological / trendline support at 102 zone. Hourly studies are improving, as bounce from fresh low at 101.99 reached mid-point of 102.82/101.99 descend at 102.40, however, regain of lower platform at 102.60 is required to confirm reversal and bottom formation. Otherwise, risk of renewed attempt lower and clear break below 102 handle would further weaken near-term structure and open lower boundaries of two-week range, also daily cloud ****, for test.

Res: 102.40; 102.61; 102.82; 103.09

Sup: 102.24; 102.00; 101.57; 101.37

The pair shows no significant changes, as near-term price action remains within 0.8935/0.9079 range, with the price holding at the upper part of the range, following yesterday’s dip to 0.8967 and quick recovery that attempts to stabilize above 0.9000 handle. Hourly technicals are still weak, with downside risk remaining in play. Loss of 0.9000 handle to shift near-term focus towards the lower limits, with 50% and 61.8% retracement levels of 0.8937/0.9048 rally at 0.8993 and 0.8979, seen as next supports, ahead of yesterday’s spike low at 0.8967, loss of which to re-open range floor at 0.8935. On the upside, pivotal resistance lies at 0.9048, clearance of which to expose recent peak and range top at 0.9079.

Res: 0.9024; 0.9048; 0.9079; 0.9100

Sup: 0.9000; 0.8979; 0.8967; 0.8935

The Euro lost ground on yesterday’s acceleration off daily high at 1.3750 zone and broke below strong 1.3700/1.3585 support zone. The fall was interrupted by correction from 1.3660, Fibonacci 38.2% retracement of 1.3482/1.3772 upleg / daily 55SMA, to 1.37 zone, now reverted to resistance. Negative tone established on lower timeframes keeps the downside at risk, as fresh weakness through 1.3660/50, previous low / daily Tenkan-sen line / 20SMA, opens 1.3620, daily 100SMA / near 50% of 1.3482/1.3770 and psychological 1.3600 support, also Fibonacci 61.8% retracement. On the upside, previous consolidation floor at 1.37 zone, reinforced by 4-hour 10/55SMA’s bear cross, offers solid resistance and is expected to cap. Only break and close above here would sideline immediate bears.

Res: 1.3700; 1.3720; 1.3755; 1.3772

Sup: 1.3620; 1.3600; 1.3561; 1.3550

Cable remains in near-term sideways mode, with price action being established within 1.6620 and 1.6725 range. Lack of momentum to sustain gains above 1.67 barrier, triggered pullback to 1.6620, keeping strong 1.66 support intact for now. Neutral tone prevails on near-term studies and sees fresh direction on a break through either of range limits, while larger picture bulls remain in play and see the upside favored, once corrective phase off 1.6821 peak is completed. Ideally, 1.66 handle should keep the downside protected, otherwise broader bulls may be delayed in case the price clearly breaks below 1.66 support.

Res: 1.6700; 1.6725; 1.6740; 1.6800

Sup: 1.6656; 1.6619; 1.6600; 1.6582

Near-term price action enters neutral mode, with price moving within 102.00 and 102.60 range. Psychological 102 support is reinforced by bull-trendline, drawn off 100.79 low and Fibonacci 38.2% retracement of 100.79/102.82 upleg, with break here seen increasing downside risk. On the upside, immediate barriers lay at 102.60, ahead of near-term congestion tops at 102.70, reinforced by daily Kijun-sen line, above which to signal resumption of recovery rally from 100.74, 04 Feb low.

Res: 102.59; 102.82; 103.09; 103.43

Sup: 102.22; 102.00; 101.57; 101.37

The pair came under pressure after the price broke below one–week range floor at 0.8930 zone and Fibonacci 38.2% retracement of 0.8658/0.9079 ascend, attempting at psychological 0.8900 support, also daily Ichimoku cloud ****. Hourly studies are negative and reached oversold zone, while 4-hour indicators broke below their midlines that suggests further downside. Consolidation around 0.89 handle would likely precede fresh leg lower, which is going to test Fibonacci supports of 50% and 61.8% retracement at 0.8869 and 0.8819 respectively, with the latter also marking previous 28/30 Jan consolidation top. Lower tops at 0.8944 and 0.8967 offer initial resistances, while stronger recovery rallies should be ideally capped under psychological 0.9000 resistance, near 61.8% retracement of 0.9048/0.8902 descend.

Res: 0.8944; 0.8967; 0.9000; 0.9024

Sup: 0.8900; 0.8869; 0.8819; 0.8800