The Euro has gained traction and eventually broke above near-term congestion, also taking out psychological 1.36 barrier. The pair so far retraced 61.8% of 1.3676/1.3510 descend, on dollar-negative post-Fed acceleration. Signals of neater **** at 1.35 zone, require confirmation on clearance of 1.3661/76, 20SMA / 06 June lower top, above which stronger correction of 1.3992/1.3502 descend could be anticipated. Near-term studies turned positive and support further upside, however, negative larger picture technicals require caution, in case of stall under 1.3676 and lower top formation.

Res: 1.3645; 1.3667; 1.3676; 1.3722

Sup: 1.3600; 1.3587; 1.3552; 1.3534

Cable maintains overall positive tone and attempts again through psychological 1.70 barrier, after narrow-range consolidation. Positive near-term studies favor eventual break and fresh phase higher, with immediate target at 1.7041, Aug 2009 peak and 1.71 level, seen in extension. Corrective dips to face good supports at previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement, 1.69 support.

Res: 1.7041; 1.7100; 1.7150; 1.7200

Sup: 1.6936; 1.6919; 1.6900; 1.6844

The pair lost traction after Fed and accelerated lower after spiking at 102.35. Fresh weakness retraced 76.4% of 101.59/102.35 upleg, signaling completion of near-term corrective phase and resumption of larger downtrend off 102.78 peak, on a break lower. Negative near-term studies are supportive, however, daily technicals are still in neutral mode and price action being underpinned by 200SMA at 101.54. Clear break here to fully establish bears for retest of psychological 101 support and key levels at 101.81/74, 21 May / 04 Feb lows and larger range floor.

Res: 102.00; 102.30; 102.41; 102.63

Sup: 101.70; 101.54; 101.10; 100.81

The pair enters near-term recovery mode and eases downside pressure after acceleration lower bottomed at 0.9325, 50% retracement of 0.9209/0.9437 ascend, reinforced by daily Kijun-sen line. Swift recovery broke above psychological 0.94 barrier and nearly fully retraced corrective phase from 0.9437, which confirms higher **** formation and signals resumption of the uptrend from 0.92 ****, for eventual retest of key 0.9460 peak, 10 Apr high and two-month range top. Overbought hourly studies suggest consolidation around 0.9437 high, before bulls continue.

Res: 0.9437; 0.9460; 0.9500; 0.9550

Sup: 0.9391; 0.9364; 0.9325; 0.9300

The Euro has ended 10-day recovery phase after yesterday’s rally eventually left 1.36 zone and probed above 1.3642, 19 June peak. Final push is expected to extended corrective leg off 1.35 **** and regain key 1.3676 barrier, 06 June peak. Completion of 1.3676/1.35 bear-phase is required to signal stronger reversal and correction of 1.3992/ 1.3500 descend. Positive tone, prevailing on lower timeframes studies, supports the notion. Break below immediate support and minor higher **** at 1.3636 will face strong support at 1.36 higher **** / 50% retracement of 1.3563/1.3650, where dips should be contained, to keep near-term positive structure intact.

Res: 1.3650; 1.3676; 1.3700; 1.3730

Sup: 1.3600; 1.3582; 1.3572; 1.3563

Cable consolidates the pullback off 1.7061 peak which broke below psychological 1.70 support and found temporary support at 1.6950. Near-term studies hold neutral tone as the price moves within 50-pips range and recovery so far being capped at 1.70, now reverted to resistance and the notion being confirmed by yesterday’s Doji candle. Unless the price clearly breaks above 1.70 hurdle and confirm higher low formation, ahead of renewed attempt higher, risk would exist for fresh weakness through 1.6950, towards downside break points at 1.6920 and 1.6900, loss of which to trigger stronger pullback.

Res: 1.7000; 1.7029; 1.7061; 1.7100

Sup: 1.6950; 1.6920; 1.6900; 1.6836

The pair remains at the back foot and broke below near-term ****s at 101.80/70, to eventually test 101.59, 12 June low/ 200SMA. Weak near-term studies see risk of full retracement of 101.41/ 102.78 upleg, with extension below 102.41 handle, expected to open short-term range floor levels at 101.81/74 for retest. Weakening daily studies support the notion, while only regain of 102.15/18 highs would ease immediate bear pressure.

Res: 101.86; 102.00; 102.18; 102.35

Sup: 101.59; 101.41; 101.10; 101.00

The pair bounces off fresh low at 0.9352, where pullback from 0.9443 peak found footstep at 38.2% of 0.9209/0.9443 ascend. Regain of 0.94 handle firmed hourly studies for possible fresh attempt towards 0.9443, in case the price action sustains break. Also, 4-hour studies are attempting at their midlines and being supportive for further upside action, while price floats above 0.94 handle. Otherwise risk of return to initial 0.9350 support, also trendline support and extension to 0.932 higher ****, would remain in play while the price unable to clearly break 0.94 zone . Overall picture, however, remains bullish and sees scope for further upside after completion of near-term consolidative phase off 0.9443 peak.

Res: 0.9413; 0.9429; 0.9460; 0.9500

Sup: 0.9393; 0.9350; 0.9320; 0.9300

The Euro returned to the positive tone, closing for the week at the weekly high and starting the new week in the same attitude. As the price cracks the previous peak, with linear regression line being broken, scope is seen for final push through 200SMA at 1.3669 and completion of 1.3676/1.3511 descend, break above which to confirm **** at 1.35 zone and trigger stronger correction of larger 1.3990/1.3502 bear-leg. Bullish near-term studies support the notion, with bull-trendline, drawn off 1.3511, offering initial support at 1.3630, ahead of 1.3600, round figure / Fibonacci 38.2% and higher **** / 50% of current rally / linear regression channel support at 1.3580, above which corrective actions should find support.

Res: 1.3652; 1.3676; 1.3700; 1.3730

Sup: 1.3630; 1.3600; 1.3580; 1.3573

Cable maintain overall positive tone and trades near recent peak at 1.7061, in a consolidative action, which is expected to precede fresh rally. Studies are positively aligned and support further upside, however, further hesitation ahead of final push higher cannot be ruled out, as daily studies are extended. Break above 1.7061 to open psychological 1.7100 barrier, with 1.7331, 50% retracement of larger 2.1161/1.3501, 2007/2009 descend, expected to come in near-term focus. Psychological level and higher low at 1.7000, offers initial support, ahead of recent range floor at 1.6950, where the downside attempts should be ideally contained.

Res: 1.7049; 1.7061; 1.7100; 1.7150

Sup: 1.7000; 1.6950; 1.6920; 1.6900

The pair remains under pressure and continues to travel south after losing near-term ****s at 101.80/70 and 101.59, 12 June low/ 200SMA support. Probe below 101.41, 29 May higher low marked full retracement of 101.41/ 102.78 upleg with bearish resumption expected to open psychological 101 support and short-term range floor levels at 101.81/74 for retest. Negative studies on lower and larger timeframes support the notion for final push lower and break below multi-month congestion. Previous supports at 101.59/80 zone, now offer immediate barriers, ahead of lower tops at 102.15/18, which are expected to cap stronger corrective attempts.

Res: 101.48; 101.59; 101.73; 101.86

Sup: 101.10; 101.00; 100.81; 100.74

The pair hovers near fresh high at 0.9443, on recovery rally from 0.9350 higher **** / trendline support, but still unable to clear barrier. Further consolidation is seen likely, as fresh easing weakens hourly studies, before bulls re-assert for eventual push higher and break above near-term congestion, for resumption of larger uptrend, towards 0.9500, initial barrier. Pullback below psychological / Fibonacci 38.2% retracement of 0.9352/0.9439 upleg, confirms scenario, however, dips should be contained above 0.9352, range bottom, to avoid deeper pullback and introduce bears into near-term picture.

Res: 0.9429; 0.9460; 0.9500; 0.9526

Sup: 0.9385; 0.9350; 0.9320; 0.9300

The Euro is at the back foot in near-term price action, with corrective pullback off 1.3699 peak, probeing below trendline support and strong 1.3650 support area, previous highs of 19/25 June and Fibonacci 38.2% retracement of 1.3573/1.3699 upleg. Negatively aligned hourly studies do not rule out further easing, with the notion being supported by traction losing 4-hour technicals. Daily close below 1.3650., with extension below 1.3627/21, double Fibonacci support and attempt at psychological 1.36 handle, to confirm daily reversal pattern and negative stance for stronger correction of the upleg from 1.35 zone. Otherwise, fresh strength through 200SMA at 1.3672 and eventual break above 1.37 barrier, to complete corrective action and higher low formation for fresh extension of bull-leg from 1.35 ****.

Res: 1.3680; 1.3700; 1.3735; 1.3747

Sup: 1.3640; 1.3621; 1.3600; 1.3573

Cable maintains positive tone and continues to trend higher, with break above 1.71 hurdle, confirming strong bullish tone. Completion of 1.7061/1.6950 corrective phase, resumes larger uptrend and approaches round figure barrier at 1.7200. However, overbought 4-hour and daily conditions require caution, with potential corrective actions to face immediate supports at 1.7100 and 1.7061, previous barriers. Only extension below psychological 1.7000 level and higher **** at 1.6950, would sideline bulls for stronger reversal.

Res: 1.7175; 1.7200; 1.7250; 1.7300

Sup: 1.7100; 1.7061; 1.7000; 1.6950

The pair regained traction and bounced from dangerous zone after bottoming at 101.22. Fresh strength retraced nearly 76.4% of the slide from 102.15, as the price approaches psychological 102 barrier. Sustained break here to signal further recovery for test of breakpoints at 102.15/35, regain of which to confirm recovery. Studies of lower timeframes are positive and support further upside, however, overbought hourly conditions may delay rally for consolidation. Previous high at 101.64, also Fibonacci 38.2% of the rally from 101.22, reinforced by hourly 55SMA, should hold deeper dips.

Res: 102.00; 102.15; 102.35; 102.63

Sup: 101.74; 101.64; 101.39; 101.22

The pair slumped after fresh acceleration above previous key level at 0.9460 stalled at 0.9503. Resumption of larger upleg off 0.92 higher **** is now sidelined, as fresh bearish acceleration took out important supports and attempts below bull-trendline off 0.9209 low, also higher **** and 50% of 0.9209/0.9503 upleg at 0.9355. With near-term technicals establishing in the negative territory, further weakness and test of the breakpoint at 1.6920, is seen likely. This will also confirm near-term top at 0.9503, ahead of further easing.

Res: 0.9385; 0.9411; 0.9442; 0.9463

Sup: 0.9335; 0.9320; 0.9300; 0.9278

The Euro remains in near-term corrective mode off 1.3573 low and stabilizes above strong 1.36 barrier. As the pair dents important 1.3620/40 resistance zone, further recovery is seen likely. Next targets lay at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 then 1.3662, 03 July lower top / daily cloud **** and 1.3672, 200SMA, regain of which to signal an end of corrective phase by confirming higher low formation at 1.3573 and open key 1.3699 peak for fresh attack. Hourly studies are bullish, with 4-hour structure improving and gaining momentum, which is seen supportive for fresh near-term upside action. Initial support lies at 1.36 zone, ahead of higher low at 1.3586, guarding pivotal 1.3573 support.

Res: 1.3636; 1.3651; 1.3662; 1.3672

Sup: 1.3600; 1.3586; 1.3573; 1.3563

Cable overall picture remains bullish, with near-term price action being in consolidating mode, established within 1.7100/1.7175 range. Near-term studies are neutral, despite brief spike below 1.71 support, as the price recovered ground quickly. Further consolidation is seen as likely near-term scenario, while 1.71 handle stays intact. However, caution is required as long as the price holds at the lower part of the range, as fresh attempt at range’s floor and potential break lower would signal stronger pullback.

Res: 1.7146; 1.7165; 1.7177; 1.7200

Sup: 1.7124; 1.7100; 1.7083; 1.7061

The pair trades in corrective phase and continues to trend lower, after pullback off 102.25 fresh high, lost, lost initial 102 support. Dip to 101.43, over 76.4% retracement of 101.22/102.25 upleg, keeps the downside risk for full retracement of 101.22/102.25 upleg. Negative near-term technicals remain supportive for bearish resumption incase of loss of 101.00. Corrective attempts should stay capped under 102 handle to keep the structure intact.

Res: 101.74; 101.94; 102.19; 102.25

Sup: 101.43; 101.10; 101.00; 100.80

The pair continues to trade in near-term corrective mode after extended weakness off fresh high at 0.9503, found footstep at 0.9327, just ahead of pivotal 0.9320 support. The rally so far retraced 50% of 0.503/0.9327 descend, in attempt to sustain break above psychological 0.94 barrier. Near-term studies improve on recent bounce, with clear break above 0.94 handle, required to confirm recovery, for extension towards 0.9440/60, next strong resistance zone, possibly to re-focus 0.9503 peak, on a break here. Previous consolidation tops at 0.9370 zone, should contain dips, to keep freshly established near-term bulls alive.

Res: 0.9415; 0.9436; 0.9460; 0.9503

Sup: 0.9389; 0.9370; 0.9339; 0.9327

The Euro holds steady and extends recovery off 1.3573 low, approaching barriers at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 and 1.3666, daily Ichimoku cloud ****, ahead of 200SMA at 1.3676, where 55/200SMA death cross in forming. Positive near-term technicals favor further advance and test of these barriers, clearance of which to open pivotal 1.3699, 01 July peak and signal resumption of the uptrend from 1.35 ****. Initial support lies at 1.3635, hourly 20SMA / daily Tenkan-sen line, was cracked, ahead of 1.3619, 38.2% of the rally from 1.3473 and psychological / higher **** support at 1.3600, below which to bring bears fully in play.

Res: 1.3651; 1.3666; 1.3676; 1.3699

Sup: 1.3619; 1.3600; 1.3586; 1.3574

Cable holds overall bullish posture, with near-term price action being in consolidative mode, trading within 1.7100/1.7175 range. Studies on 4-hour chart are neutral, while positive tone prevails on hourly timeframe, after the price rallied, following brief break below 1.71 support. Further directionless trading is seen as likely near-term scenario, while 1.71 handle stays intact. However, overextended daily conditions require caution, as fresh weakness below 1.71 handle would signal stronger pullback.

Res: 1.7166; 1.7177; 1.7200; 1.7250

Sup: 1.7120; 1.7100; 1.7083; 1.7061

The pair has completed near-term corrective phase off 11.43 low, which was rejected at 101.85. Subsequent return to 101.43 level signals fresh weakness, as technicals are weak and see scope for further downside, part of larger downmove off 102.25, 03 July high. Sustained break lower to open psychological 101 support and key levels at 100.81/74, short-term congestion floor. Upside attempts should stay capped under psychological barrier / daily Ichimoku cloud **** at 102.

Res: 101.65; 101.85; 102.00; 102.19

Sup: 101.43; 101.10; 101.00; 100.80

Near-term recovery attempt off 0.9327 low has run out of steam at 0.9454 spike high, with subsequent fresh weakness erasing over 61.8% of entire 0.9327/0.9454 upleg. Sharp reversal weakened near-term structure, as hourly studies turned bearish and 4-hour technicals are losing traction. This would risk return to 0.9327 low, also daily cloud top, for eventual attempt at pivotal 0.9320 support, Fibonacci 61.8% of 0.9209/0.9503 ascend and short-term higher ****, loss of which to confirm top at 0.9503 and trigger further easing.

Res: 0.9390; 0.9429; 0.9457; 0.9460

Sup: 0.9357; 0.9339; 0.9327; 0.9320