The Euro continues to trade in a sideways mode, capped for now under 1.2977/85 barriers, with corrective pullbacks being contained above 1.29, round-figure support / Fibonacci 61.8% of 1.2858/1.2977 corrective rally. Neutral near-term studies see scope for further consolidation, while overall negative tone, renewed with yesterday’s close in red, suggests fresh leg lower after completion of near-term consolidative phase. Strong barriers at 1.2977/85, as well as psychological 1.3000 resistance, keep the upside limited for now and only break above the latter would revive near-term bears for stronger bounce, which would sideline attempts towards short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2750 higher ****.

Res: 1.2958; 1.2977; 1.2987; 1.3000

Sup: 1.2920; 1.2900; 1.2882; 1.2858

Cable’s near-term price action remains in consolidative mode, with immediate tone showing signs of weakness, as the price action moves towards the consolidation floor at 1.62 zone, after yesterday’s close in red. Recovery peak at 1.6275, has so far limited the upside action, keeping psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative.

Res: 1.6249; 1.6275; 1.6300; 1.6338

Sup: 1.6200; 1.6184; 1.6155; 1.6123

The pair remains positive overall, with near-term price action moving in consolidative mode, which was signaled by yesterday’s Doji candle. Important 107 support holds for now, despite brief probe below overnight, keeping immediate focus at the upside, for test of initial target at 107.50, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, however, should be contained at 106.50/35 zone, to keep bulls unharmed.

Res: 107.38; 107.50; 108.00; 108.28

Sup: 106.92; 106.50; 106.35; 106.00

The pair maintains negative tone, with near-term corrective action off fresh low at 0.8982, being capped at 0.9050, by descending hourly 55SMA. Fresh weakness below 0.90 handle, confirms bears are in play, for fresh extension towards the next target at 0.8889, 02 Mar higher low, with full retracement of 0.8658/0.9503 ascend, being in play. Only fresh strength above 0.9050 would sideline immediate bears for stronger corrective attempt.

Res: 0.9000; 0.9020; 0.9050; 0.9071

Sup: 0.8980; 0.8950; 0.8923; 0.8900

Near-term tone is positively aligned and sees the upside targets at 1.3000/1.3040 zone, round figure / 50%/61.8% retracement of 1.3153/1.2858 downleg in focus, as the price ticked higher, approaching initial 1.30 barrier. These levels are seen as turning points and sustained break would signal stronger recovery action in the near-term. Broken-bull-trendline off Nov 2012 low, now offer support and would keep afloat bulls, developing on lower timeframes charts. On the other side, overall picture remains negative, with downside risk towards 1.2786/50 targets, expected to remain in play, as long as 1.3153 lower top and breakpoint stays intact.

Res: 1.2977; 1.2993; 1.3000; 1.3040

Sup: 1.2930; 1.2900; 1.2882; 1.2858

Cable regained strength in near-term action off 1.6159, yesterday’s correction low and cracked important 1.63 barrier. Bulls are coming in play on lower timeframes, which supports attempts through 1.63 hurdle, clear break of which is required to resume recovery rally off 1.6050, low of 10 Sep. However extension above 1.6340 is needed to fill the gap of 08 Sep and confirm recovery action, which will also neutralize bearish engulfing pattern, developing on the daily chart, which requires extension below yesterday’s low at 1.6159, to confirm reversal.

Res: 1.6309; 1.6338; 1.6416; 1.6463

Sup: 1.6247; 1.6210; 1.6184; 1.6159

The pair remains positive and regains levels above 107, with near-term price action continuing to move in consolidative mode, off fresh high at 107.38. This keeps immediate focus at the initial target at 107.50, to signal an end of consolidative phase and open 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, are expected to hold above 106.50/35 support zone, to keep bulls intact, as the pair is looking for extension towards 108/110 zone in the near term.

Res: 107.38; 107.50; 108.00; 108.28

Sup: 106.79; 106.50; 106.35; 106.00

The pair holds overall negative tone, with near-term corrective action off fresh low at 0.8982, accelerating after clearance of initial 0.9050 barrier. Hourly studies improved on a probe above 0.91 barrier and see room for further recovery action, as the rally cracked pivotal 0.9100/26, 50%/61.8% retracement of 0.9216/0.8982 zone. Sustained break above the latter to confirm hourly double-bottom formation, revive bulls on still weak 4-hour studies and spark further recovery, which would expose 200SMA at 0.9181. Alternatively, false break through 0.91 barrier, would re-focus 0.9050, now acting as support and risk return to the lows below 0.90 handle.

Res: 0.9110; 0.9126; 0.9160; 0.9181

Sup: 0.9059; 0.9050; 0.9000; 0.8980

The Euro accelerated lower post Fed and erased gains of corrective 1.2858.1.2993 rally, with lower top left at 1.2993. This confirms 1.30 zone as strong barrier, as break below previous low at 1.2858, shifts focus towards 1.2800, round-figure support and short-term targets at 1.2786, Fibonacci 61.8% retracement of 1.2042/1.3992 and 1.2750 higher ****. Near-term technicals turned bearish and support the notion, with corrective attempts off fresh session lows, ideally to be capped at 1.29 zone, near 50% of 1.2978/1.2832 downleg.

Res: 1.2888; 1.2900; 1.2920; 1.2942

Sup: 1.2852; 1.2832; 1.2800; 1.2786

Cable remains steady and returns to 1.63 zone, which was broken on yesterday’s extension to 1.6356. Subsequent corrective action found support at 1.6245, to signal an end of corrective action and fresh attempt higher, which would look for clearance of 1.6380, daily 20SMA and levels above 1.64 barrier, Fibonacci 61.8% of 1.6642/1.6050, to confirm recovery. Near-term studies hold positive tone and support scenario, however, negative larger picture technicals and yesterday’s Doji candle, require caution, as failure to regain fresh highs and weakness which would violate 1.6245 support, would signal an end of corrective phase and shift near-term focus lower.

Res: 1.6356; 1.6380; 1.6416; 1.6464

Sup: 1.6245; 1.6200; 1.6159; 1.6100

The pair resumes larger rally after completing near–term consolidation phase, with fresh strength of the dollar, establishing the price above 108 level. Fresh bulls are approaching initial 109 barrier, ahead of next levels at 109.50 and psychological 110.00, en-route towards 110.66, Aug 2008 peak. Overbought near-term studies suggest corrective action ahead of fresh rally. Higher lows at 107 zone, should ideally contain pullbacks.

Res: 108.85; 109.00; 109.50; 110.00

Sup: 108.36; 108.00; 107.58; 107.28

The pair’s hourly structure returned to bearish mode, after recovery rejection at 0.9110 and fresh weakness, which again took out psychological 0.9000 support. With 4-hour and daily studies maintaining negative tone and yesterday’s long red candle, focus remains firmly lower. Fresh leg lower, which commenced from 0.9110 lower top, could travel to 0.8848, its Fibonacci 61.8% expansion, initially, with extension to 0.8682, 100% expansion, to signal possible full retracement of 0.8658/0.9503 ascend.

Res: 0.9000; 0.9020; 0.9045; 0.9082

Sup: 0.8937; 0.8900; 0.8848; 0.8800

The Euro posted marginally lower low at the beginning of the week, pointing towards initial 1.28 support and short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2754/44 higher ****. Fresh extension lower signal that the third wave off 1.3699 lower top of 01 July, is not completed yet and could travel towards 1.2675, its 200% expansion. Further downside is favored for now with the notion being supported by weekly bearish engulfing pattern. However, overextended daily studies require caution, as indicators are starting to reverse, with confirmation of corrective action seen on a break above last Thu/Fri lower platform at 1.2928, near 61.8% of 1.2978/1.2824 descend. Extension higher to open 1.30 breakpoint zone, for more significant upside action, expected on a break.

Res: 1.2883; 1.2900; 1.2928; 1.2980

Sup: 1.2824; 1.2800; 1.2786; 1.2754

Last Friday’s strong pullback from fresh recovery high at 1.6522, retraced 50% of entire 1.6050/1.6522 rally and over 61.8% of 1.6159/1.6500 upleg, on a dip to 1.6284. Temporary support was found here, as reversal was so far contained above bull-trendline drawn off 1.6050 low, which keeps 4-hour structure in bullish mode so far, with regain of levels above 1.64 barrier, required to re-focus 1.6522 and open key barriers above 1.66. On the other side, weakened hourly structure, along with last Friday’s close in red, see risk of further downside, which requires break below trendline support at 1.6280 and extension below 1.6230, Fibonacci 61.8% of 1.6050/1.6522 upleg, to confirm negative scenario.

Res: 1.6375; 1.6400; 1.6431; 1.6468

Sup: 1.6284; 1.6231; 1.6200; 1.6159

Overall bulls remain in play, as the pair broke above 109 and posted fresh high at 109.42. Positive daily and weekly close is supportive for eventual push towards psychological 110 barrier and 110.66, Aug 2008 peak, short-term targets. Corrective dips are so far contained at 108.65, just above last Friday’s low at 108.57 and 108.42, Fibonacci 38.2% of 106.98/109.42, where consolidative action should ideally find footstep. Otherwise, easing below 108 handle, is expected to signal stronger correction and delay immediate bulls.

Res: 109.17; 109.42; 110.00; 110.66

Sup: 108.60; 108.42; 108.00; 107.80

The pair remains under pressure and attempts at 0.89 support, signaling an end of consolidative 0.8925/0.8995 phase. Near-term technicals maintain negative tone, with the notion of further extension of the downleg from 0.9110 lower top, being supported by last Friday’s Outside Day candle. Break below 0.89 handle, opens 0.8857, Fibonacci 76.4% of 0.8658/0.9503 ascend and 0.8846, 05 Aug 2013 low, the last obstacles en-route towards 0.8658, 24 Jan 2014 low. Corrective actions should ideally stay capped by 0.90 barrier, while only break here would signal extended corrective action and delay immediate bears.

Res: 0.8948; 0.9000; 0.9040; 0.9079

Sup: 0.8900; 0.8846; 0.8819; 0.8800

The Euro continues to gradually move lower on approach to initial targets at 1.2800, round figure support and more significant 1.2786, Fibonacci 61.8% of 1.2042/1.3992 ascend and higher **** of Mar/July 2013 at 1.2754/44. Overall picture remains bearish and sees further downside favored, with extension below 1.2744, expected to open 1.2660, Nov 2012 low, the last significant obstacle on the way towards 1.2042, low of 2012. Lower timeframes studies show negative tone prevailing on 4-hour chart and consolidation above 1.28 handle, marked by neutral hourly technicals. Consolidation high at 1.2866, offers initial resistance zone, reinforced by bear-trendline, drawn off 1.2978, along with 1.2877, Fibonacci 38.2% of 1.2978/1.2815 downleg. More significant barrier lies above 61.8% retracement at 1.2928 lower platform, clearance of which to expose 1.30 breakpoint. Overextended daily studies, with RSI / MACD bullish divergence developing, suggest corrective action in the near-term.

Res: 1.2877; 1.2900; 1.2928; 1.2978

Sup: 1.2841; 1.2815; 1.2800; 1.2786

Cable’s rally off 1.6284, 19 Sep corrective pullback’s low, lost traction on approach to 1.64 barrier, bringing near-term focus again at lower targets. Retest of 1.63, round-figure support and bull-trendline, drawn off 1.6050 low, sees increased risk of attack at 1.6284, with break lower to signal resumption of near-term descend from 1.6522 and expose 1.6231, Fibonacci 61.8% of 1.6050/1.6522 and 1.6159, 16 Sep higher low. On the other side, holding above the trendline support, would keep hopes of fresh attempts higher in play. Regain 1.64 handle is seen as minimum requirement to confirm bullish scenario.

Res: 1.6389; 1.6400; 1.6431; 1.6479

Sup: 1.6300; 1.6284; 1.6230; 1.6200

The pair trades in near-term consolidative mode, under fresh high at 109.42, posted last week. Near-term risk of further hesitation ahead of short-term targets at psychological 110 and 110.66, Aug 2008 peak increases, as hourly structure is weakening and consolidation floor at 108.57, was taken out. The notion is supported by yesterday’s Inside Day candle, which suggests a pause ahead of 110.00/110.66 targets. Fresh weakness could extend to 108/ 107.80, round-figure / Fibonacci 61.8% of 106.79/109.42 ascend, with strong support and breakpoint, lying at 107 zone.

Res: 108.57; 108.83; 109.00; 109.18

Sup: 108.23; 108.00; 107.80; 107.50

The pair corrects higher after yesterday’s fresh weakness through 0.89 handle, reached new low at 0.8851, coming ticks away from initial target at 0.8846, Fibonacci 61.8% expansion of the wave from 0.9110 / 05 Aug 2013 low. Overall negative structure keeps the downside in focus, with near-term targets at 0.88, then 0.8783, Fibonacci 76.4% expansion and 0.8682, 100% expansion, ahead of key short-term support at 0.8658, 24 Jan 2014 low. Corrective actions should be ideally capped under 0.90 barrier, while only break here would signal stronger corrective action and delay immediate bears.

Res: 0.8921; 0.8950; 0.8990; 0.9011

Sup: 0.8846; 0.8819; 0.8800; 0.8783

The Euro holds negative tone, as weekly close in red and below Fibonacci 61.8% of larger 1.2042/1.3992 ascend, confirms strong bearish stance. Break below 1.27 support comes ticks away from 1.2660, Nov 2012 low, the last strong obstacle en-route towards 1.2042, which is expected to come in near-term focus on a break and close below 1.2660. The third wave, off 1.3699 lower top, met its 200% expansion target at 1.2675 and would look for further extension towards 1.2360, Fibonacci 261.8% expansion, ahead of 1.2042 target. Corrective actions on oversold near-term studies face initial resistance at 1.27 level and should be ideally capped under 1.2760 lower platform

Res: 1.2700; 1.2760; 1.2800; 1.2815

Sup: 1.2660; 1.2600; 1.2550; 1.2500

Cable consolidates above fresh lows just above 1.62 support, following break below important 1.63 level and daily/weekly close below. Overall negative structure sees the downside favored, with key near-term term target at 1.6000, psychological support / 50% retracement of larger 1.4812/1.7189 ascend. The pair rides on the third wave, which commenced from 1.6413 lower top and is looking for 1.6175, its 100% Fibonacci expansion, then 1.6084, 138.2% expansion, ahead of 1.6050, 10 Sep low, on the way towards 1.6000 target. Corrective attempts should stay under 1.6300/40 barriers, to keep the structure intact.

Res: 1.6251; 1.6275; 1.6300; 1.6339

Sup: 1.6211; 1.6200; 1.6175; 1.6159

Near-term bulls are back in play after the price broke above 109.42, previous high, confirming an end of near-term consolidative phase. Price action is looking for test of near-term targets at psychological 110 and 110.66, Aug 2008 peak. Fresh action higher is signaled by last Friday’s bullish Engulfing Pattern, which suggests further upside. Extension above 110.66 to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Previous range tops offer initial support, ahead of 109, round-figure and 108.46, 26 Sep higher low, above which dips should find footstep.

Res: 109.73; 110.00; 110.66; 111.00

Sup: 109.42; 109.00; 108.46; 108.23

The pair continues to trend lower, with 0.87, round-figure support, being cracked and the price met the next target at 0.8682, Fibonacci 100% expansion of the wave from 0.9110. Bears are looking for final push towards key 0.8658, low of 24 Jan, to mark full retracement of 0.8958/0.9503 ascend. The third wave could extend to 0.8519, its 138.2% expansion, once 0.8658 is taken out, however, oversold near-term technicals suggest a hesitation ahead of key 0.8658 support. Psychological 0.90 level, offers good resistance and should keep the upside attempts limited.

Res: 0.8746; 0.8810; 0.8829; 0.8895

Sup: 0.8682; 0.8658; 0.8600; 0.8550