EUR/USD
Rallies higher after rather positive news from Greece, to recover last Friday’s losses that found support at 1.3150. Today’s gap higher opening suggests possible extension towards 1.3300/20 barriers, where 90 day SMA limited upside attempts. The recent rally suggests that most of the optimism regarding Greece’s deal have already been priced in, although positive hourly studies support the latest advance, along with wider picture’s outlook. Clearance of 1.3320 MA is required to resume short-term rally and open 1.3400 and Fibonacci level at 1.3425. Immediate barriers lie at 1.3285/1.3300 zone, while downside remains protected at 1.3220/00 zone, also 20 day SMA and only loss of the latter to trigger further weakness and cover today’s gap.
Res: 1.3275, 1.3285, 1.3300, 1.3320
Sup: 1.3232, 1.3220, 1.3200, 1.3153
GBP/USD
Extended the near-term weakness off 1.5926, 08 Feb peak and 200 day SMA, to test key near-term support at 1.5730 last Friday. Current bounce is seen corrective as long as 1.5820/50, trendline resistance / Friday’s high / 20 day SMA, stay intact, as the pair struggles at 1.5800, former higher base and broken H&S neckline. Risk is seen of fresh lower high and retest of 1.5730, loss of which to open next supports at 1.5700 and 1.5650. Only lift above 1.5820 would provide near-term relief.
Res: 1.5800, 1.5820, 1.5850, 1.5880
Sup: 1.5777, 1.5757, 1.5730, 1.5700
USD/JPY
Remains in a strong uptrend, with near-term price action seen consolidating the recent gains that peaked at 77.80 and currently moving within 77.50/80 range. Near-term focus is at next strong barrier at 78.00, where main bear trendline off 2007 peak and 200 day SMA lie, above which to focus the next significant resistance at 78.27, Nov/Dec 2011 range ceiling / 25 Jan peak. Daily studies are breaking above their midlines and confirming the current bullish structure. Today’s low at 77.50, offers initial support, with previous high and Fibonacci level at 77.20, expected to contain corrective dips.
Res: 77.80, 78.00, 78.27, 78.40
Sup: 77.50, 77.20, 77.00, 76.80
USD/CHF
The pair comes under pressure again after false break below static support at 0.9100 and subsequent bounce stalled at 0.9200. Today’s gap lower opening and current test of 0.9100 risks further weakness, as the upside stays capped for now. Firm break below 0.9100 and 0.9075, Fibonacci 50% of 0.8566/0.9593 ascend / daily Ichimoku cloud base, to resume short-term weakness off 0.9593, 09 Jan peak and expose 0.9000, figure support and Fib 61.8% at 0.8955.
Res: 0.9134, 0.9158, 0.9171, 0.9200
Sup: 0.9150, 0.9135, 0.9110, 0.9100
EUR/USD
The pair comes under increased pressure after yesterday’s failure to clear initial resistance at 1.3280, resulted in fresh weakness. Loss of day low at 1.5757 filled the gap, extending losses through last Friday’s low at 1.3153, also main bull trendline off 1.2622, 13 Jan low, after downgrade of a number of European countries was announced. Break below daily 20 day SMA, currently at 1.3117 to open way towards next targets at 1.3100/1.3090 zone, with key near-term support at 1.3025, to come in focus. Corrective action on oversold hourly conditions, faces strong resistance at 1.3200/30 zone that is expected to limit the upside for now.
Res: 1.3163, 1.3200, 1.3220, 1.3230
Sup: 1.3126, 1.3100, 1.3090, 1.3025
GBP/USD
Yesterday’s failure to clear 1.5800 congestion, also bear trendline off 1.5926 high, triggered fresh weakness through higher platform and H&S neckline at 1.5730 and 1.5700, daily 20 / 90 day SMA’s, to signal further weakness ahead. Immediate targets lie at 1.5650/40 zone, as near-term studies remain negative. Oversold conditions on hourly chart, however, suggest corrective rally before near-term bears resume, with 1.5790 zone, 20 day SMA / trendline resistance, expected to cap.
Res: 1.5727, 1.5757, 1.5777, 1.5790
Sup: 1.5683, 1.5650, 1.5640, 1.5600
USD/JPY
The near-term positive sentiment was boosted by BoJ decision to further loosen monetary policy, as the pair emerged from two-day consolidation, rallying through long-term bear-trendline, drawn off 2007 high and attempting through next strong barrier at 78.05, 200 day SMA . Break here to expose another significant resistance at 78.27, Nov/Dec 2011 range ceiling / 25 Jan peak, to possibly re-focus post-intervention highs at 79.00/50, on a break. Near-term studies are positive, yet no signals of reversal, despite overbought hourly conditions. Initial support lies at 77.80, previous range ceiling, with 20 day SMA at 77.65, expected to contain. Only break below yesterday’s lows at 77.35, would delay immediate bulls.
Res: 78.05, 78.27, 78.40, 79.00
Sup: 77.80, 77.50, 77.35, 77.20
USD/CHF
Returns to the near-term range, after finding good support at 0.9100, with sharp recovery after false break lower, regaining last Friday’s high at 0.9200 zone. Studies on 4H chart turned positive and see potential for further extension higher and test of key upside levels at 0.9250/60, near-term range ceiling, break of which to open way for stronger recovery of broader downtrend from 0.9600 high. Clear break above 0.9200 barrier is required, however, pullback overbought hourly conditions, may delay rally. Immediate support lies at 0.9170, ahead of strong one at 0.9150 zone.
Res: 0.9195, 0.9225, 0.9250, 0.9260
Sup: 0.9170, 0.9158, 0.9150, 0.9100
EUR/USD
Continues to channel lower as fears of Greece’s bailout failure and recent downgrade of European countries credit rate, put additional pressure on the pair. Break below key near-term support at 1.3025 and figure support at 1.3000, sets scope for fresh leg lower, with immediate target at 1.2970, Fib 50% of 1.2622/1.3320 and 1.2930, 25 Jan low. Negative near-term studies keep the focus at the downside, immediate resistance at 1.3025, previous support, ahead of 20 day SMA at 1.3050 and previous low at 1.3078, expected to limit corrective rallies.
Res: 1.3030, 1.3050, 1.3078, 1.3100
Sup: 1.2970, 1.2930, 1.2900, 1.2875
GBP/USD
Near-term price action shows the pair remains under pressure, as recovery attempt from fresh low at 1.5643 was limited by 20 day SMA that maintains short-term downtrend off 1.5926. While 1.5730 zone, yesterday’s high / 10/6 Feb lows / channel resistance, caps, near-term focus remains towards the downside, with loss of 1.5643 to expose 55 day SMA at 1.5600 and Fib 50% at 1.5580.
Res: 1.5711, 1.5721, 1.5735, 1.5770
Sup: 1.5658, 1.5643, 1.5600, 1.5580
USD/JPY
Trades in a near-term consolidative mode after bulls surged through very strong barriers at 78.00 and 78.27, to post fresh 3 ½ month high at 78.65. Corrective dips were contained at initial 78.30/20 support zone that sees potential of further extension higher. Above 78.65 to target 79.00 and very strong resistance at 79.52, post October’s intervention peaks. Near-term studies are pointing higher, with initial support at 78.20, ahead of 78.00, 200 day SMA.
Res: 78.52, 78.65, 79.00, 79.52
Sup: 78.35, 78.20, 78.00, 77.80
USD/CHF
Extends gains off 0.9100 support zone, after yesterday’s pullback was held above 20 day SMA, to clear strong resistance and near-term range ceiling at 0.9250/60, currently attempting through Fib 38.2% of 0.9293/0.9087 descend. Positive near-term sentiment sees potential for further recovery towards round figure barrier at 0.9300 and 55 day SMA at 0.9315, ahead of more significant static resistance at 0.9338, 25 Jan high / Fib 50%, above which to confirm base at 0.9100 zone. Previous highs at 0.9260/50 offer initial support, ahead of 0.9227, while only loss of 0.9200 zone would weaken the near-term structure.
Res: 0.9282, 0.9300, 0.9315, 0.9338
Sup: 0.9260, 0.9250, 0.9227, 0.9200
EUR/USD
Maintains positive sentiment off last Thursday’s low at 1.2973, as positive outcome for Greece is expected on today’s Eurozone Financial Ministers meeting. Today’s gap higher opening shows the pair well bid, with 76.4% retracement of 1.3320/1.2973 downleg, seen so far. Near-term studies continue to point higher, as the last barriers at 1.3280 zone, 13 Feb high / 90 day SMA, come in focus, ahead of key resistance at 1.3320.Initial support lies at 1.3173, ahead of 1.3137/14 zone that is expected to contain corrective dips and keep near-term bulls in play.
Res: 1.3236, 1.3277, 1.3282, 1.3300
Sup: 1.3196, 1.3173, 1.3137, 1.3114
GBP/USD
Extends near-term bulls off 1.5650 zone double bottom, to test 1.5880 so far, the last barrier ahead of key hurdles at 1.5913/26, 200 day SMA / 08 Feb high. Break here is required to resume short-term uptrend from 1.5233, 13 Jan low and expose 1.6000 next. Positive near-term studies remain supportive, however, corrective pullback may precede fresh rally, with 1.5800/1.5770 zone expected to hold the downside.
Res: 1.5878, 1.5882, 1.5900, 1.5926
Sup: 1.5826, 1.5800, 1.5792, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, has finally cleared the main barrier at 79.52, 31 Oct 2011 post-intervention peak, reaching 79.88 high so far, ahead of psychological barrier at 80.00, above which to signal break above longer-term range from Aug 2011. Corrective easing on overbought hourly/4H conditions sees supports at 79.00 and 78.70.
Res: 79.59, 79.88, 80.00, 80.23
Sup: 79.00, 78.70, 78.50, 78.35
USD/CHF
Extends the near-term weakness after upside failure just under 0.9300, with break below daily Ichimoku cloud, bringing key supports at 0.9100/0.9087 into focus. Loss of the latter to trigger fresh bear-phase and extend the short-term downtrend from 0.9593, 09 Jan high, for test of Fibonacci level at 0.9075, possibly 0.9000, figure support, on a break. Strong resistance lies at 0.9200, 17/10 Feb highs / 20 day SMA.
Res: 0.9161, 0.9177, 0.9200, 0.9250
Sup: 0.9136, 0.9113, 0.9100, 0.9087
EUR/USD
The pair rallied on Greek deal announcement, moving from overnight’s low at 1.3187, to briefly break above daily 90 day SMA, but so far failed to regain psychological level at 1.3300 and key near-term barrier at 1.3320. Positive structure off 1.2973, last week’s low / Fib 50% of 1.2622/1.3320 ascend, sees potential for attempt through 1.3320, to resume short-term uptrend from 1.2622 and expose 1.3400 and 1.3430, Fib 50% of 1.4246/1.2622 descend. Previous resistance at 1.3230, now offers initial support, ahead of more significant 1.3180 zone and 4H 20 day SMA at 1.3160, where corrective dips should be contained, to keep immediate bulls intact.
Res: 1.3292, 1.3300, 1.3320, 1.3350
Sup: 1.3230, 1.3200, 1.3180, 1.3137
GBP/USD
Holds the near-term positive tone from 1.5650 zone double-bottom, but gains are still capped under 200 day SMA at 1.5911 and key near-term resistance at 1.5926, 08 Feb peak. Clear break here is required to resume short-term rally and signal fresh bull-phase, however, wider picture outlook is more pessimistic, as studies started to point lower, with risk of repeating the scenario from Oct / Nov 2011, when price action was capped by 200 day SMA and triggered significant losses. Strong near-term support lies at 1.5800 zone.
Res: 1.5860, 1.5879, 1.5882, 1.5900
Sup: 1.5815, 1.5800, 1.5788, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, has finally cleared the main barrier at 79.52, 31 Oct 2011 post-intervention peak, reaching 79.88 high so far, ahead of psychological barrier at 80.00, above which to signal break above longer-term range from Aug 2011. Subsequent consolidation found ground at 79.50, now acting as support, with fresh gains under way, looking for fresh extension of short-term uptrend. Near-term studies remain supportive.
Res: 79.88, 80.00, 80.23, 80.40
Sup: 79.50, 79.00, 78.70, 78.50
USD/CHF
Remains under pressure after the recent upside rejection at 0.9300, with subsequent slide breaking below strong support zone at 0.9100/0.9087, to post marginally lower low at 0.9081 so far. Bounces are seen corrective, as long as holding below 0.9150/80 zone, with focus at 0.9075, Fibonacci level, ahead of 0.9000, psychological support. To improve the short-term structure, clear break above 0.9300 barrier is required.
Res: 0.9120, 0.9150, 0.9162, 0.9177
Sup: 0.9100, 0.9087, 0.9081, 0.9075
EUR/USD
Near-term price action sees the pair moving in a narrow range and directionless mode, after initial optimism about Greek’s deal faded and price dropped to 1.3200 zone, where temporary support was found. Hourly studies are neutral, while 4H structure is weakening. Break below key near-term supports at 1.3210/00, yesterday’s intraday lows / 20 day SMA and 1.3181/70, yesterday’s low / Fib 38.2% of 1.2973/1.3292, to further weaken the structure and open 1.3150, 10 Feb low and 1.3133, Fib 50%. On the upside, minor resistances lie at 1.3250/74, with yesterday’s high at 1.3292 and key barrier at 1.3320, clearance of which is required to end near term congestion and resume broader uptrend from 1.2622, 13 Jan low.
Res: 1.3250, 1.3266, 1.3274, 1.3292
Sup: 1.3210, 1.3200, 1.3180, 1.3170
GBP/USD
Extends near-term weakness off 1.5880, 20/09/01 Feb highs, where the recent strong rally off 1.5650 double-bottom was capped. Steady decline has so far erased 50% of the initial rally at 1.5762, with potential for further weakness seen on negative hourly studies, as corrective bounce stays limited at 1.5800 for now. Loss of 1.5762 to expose 1.5740/35 zone next, Fib 61.8% / 15 Feb high, below which would confirm lower high at 1.5880 and re-focus strong support at 1.5650. Only regain of 1.5830 zone, where 20 day SMA lies, would improve near-term tone.
Res: 1.5860, 1.5879, 1.5882, 1.5900
Sup: 1.5815, 1.5800, 1.5788, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, continues to break its upside barriers, with the last one at 80.00, cleared today. This opens way for further gains and test of breakpoint at 80.23, also med-term range ceiling of Jul 2011/Feb 2012 broader congestion. Break here to signal basing attempt and open way for stronger recovery of long-term downtrend from 2007. Hourly studies are positive, but overbought conditions signal corrective pullback, ahead of fresh rally, as yet no signal of reversal on the wider picture’s outlook. Previous high at 79.52, along with 20 day SMA, offers good support for now.
Res: 80.00, 80.23, 80.40, 80.50
Sup: 79.88, 79.60, 79.50, 79.00
USD/CHF
The downside remains in focus after upside rejection at 0.9300 barrier and subsequent slide broke below initial supports at 0.9100/0.9090, as the price action holds below daily Ichimoku cloud. Yesterday’s corrective attempt was capped at initial barrier at 0.9150, with fresh weakness under way, however, hourly structure shows the price action entrenched in 50-pips range and in directionless mode, as long as 0.9100/0.9080 support holds, with break here to signal an extension of short-term downtrend and expose round figure support at 0.9000.
Res: 0.9135, 0.9150, 0.9162, 0.9188
Sup: 0.9100, 0.9087, 0.9081, 0.9075
EUR/USD
Hourly structure remains neutral, as the price action still in a range-trading mode, with the downside protected at 1.3200 support zone for now. Brief bounce to 1.3280 so far, needs to clear minimum 1.3292, to improve the near-term outlook and expose key barrier at 1.3320, clearance of which to resume the uptrend from January’s low at 1.2622. Four-hour chart outlook, however, shows more positive tone and keeps focus at 1.3320 peak, with 20 day SMA at 1.3240, underpinning. On the downside, loss of consolidation floor at 1.3200 would weaken the near-term structure and allow for stronger pullback, with Fib 38.2% / 50% of 1.2973/1.3292 at 1.3170/1.3132, to come next.
Res: 1.3282, 1.3292, 1.3320, 1.3400
Sup: 1.3230, 1.3200, 1.3180, 1.3170
GBP/USD
The pair consolidates yesterday’s heavy losses that fully erased the near-term rally from 1.5650, double-bottom to 1.5880, where gains were capped. Attempt to make a new base at 1.5650, must regain minimum 1.5770, previous high / near Fib 50%, to avert immediate downside risk, as near-term studies are negative, with the latest bounce seen corrective. Clear break above 1.5800/13 is required to confirm. On the downside, loss of very strong support at 1.5650, to confirm lower top at 1.5880 and open fresh bear-phase and possibly repeat the scenario from Oct/Nov 2011, when repeated attempts to clear 200 day SMA at 1.6100/1.6000 zone failed and triggered significant losses to 1.5400 zone, initially.
Res: 1.5700, 1.5720, 1.5735, 1.5760
Sup: 1.5650, 1.5600, 1.5580, 1.5530
USD/JPY
Holds positive short-term tone off 76.00 base, with yesterday’s break above key med-term barrier and breakpoint at 80.23, looking for further recovery towards weekly 90 day SMA at 81.30. Hourly studies show the pair in corrective mode, while bigger picture remains firmly bullish and showing no signal reversal, despite daily RSI being in overbought zone. Supports lie at 80.00 and 79.88, 4H 20 day SMA, with 79.50 expected to contain.
Res: 80.23, 80.40, 80.50, 81.00
Sup: 80.00, 79.88, 79.60, 79.50
USD/CHF
Near-term structure turns negative after recovery attempt failed at initial resistance at 0.9150. Attempt to create base at 0.9100/0.9070 zone is now fading, as renewed pressure pushed the price to 0.9070 so far. Break here to signal an extension of short-term downtrend off 0.9593, Jan’s peak and expose 0.9000 and 0.8655, Fibonacci 61.8% of 0.8566/0.9593, Oct / Jan rally. Previous support at 0.9100 offers initial resistance, along with 20 day SMA at 0.9115, while 0.9150 is expected to cap for now.
Res: 0.9100, 0.9115, 0.9135, 0.9150
Sup: 0.9070, 0.9050, 0.9000, 0.8955
EUR/USD
Corrective pullback off last Friday’s fresh high at 1.3465, levels last time visited at the beginning of Dec 2011, found footstep at 1.3365, 4H 20 day SMA and just ahead of strong support zone at 1.3350/40. Fresh strength above 1.3400 handle, regained 1.3450 so far, however, clearance of yesterday’s intraday high at 1.3463 is required to re-focus 1.3485/1.3500, otherwise, further easing is not ruled out, as hourly studies started to point lower. Immediate supports at 1.3400/1.3380 zone are expected to contain, to keep positive sentiment intact, while only break below 1.3365/40 support zone would allow for stronger pullback and turn the near-term focus lower.
Res: 1.3450, 1.3463, 1.3485, 1.3500
Sup: 1.3400, 1.3385, 1.3365, 1.3356
GBP/USD
Rally from 1.5650, very strong support zone was once more capped by 200 day SMA at 1.5900, keeping the upside intact for now. Subsequent reversal was contained at 1.5800 zone, above 20 day SMA and more significant 1.5770 support. Holding above the latter, keeps the pair within the range, while break lower to turn focus towards 1.5720/00, next supports. Only sustained break above 1.5900/26 would signal break above 1.5900/1.5650 range and resume broader uptrend from 1.5233, 13 Jan low.
Res: 1.5868, 1.5880, 1.5900, 1.5926
Sup: 1.5809, 1.5800, 1.5770, 1.5720
USD/JPY
Near-term price action shows the pair in defense after hitting fresh 9-month high at 81.65 yesterday. Swing lower was for now contained at 80.00, just above static support at 79.84, attempting through yesterday’s intraday high and hourly 55 day SMA at 80.65, break of which is required to trigger further recovery. Hourly studies, however, are still weak and further easing is not ruled out, as long as 81.00 stays intact, with potential break below 80.00, to expose next support at 79.50.
Res: 80.75, 81.00, 81.24, 81.65
Sup: 80.00, 79.84, 79.50, 79.00
USD/CHF
Trades in a near-term corrective mode, off 0.8929, last Friday’s fresh low. Upside was so far capped at 0.9000 resistance, but room for stronger bounce still exists. While today’s low at 0.7960 holds, immediate focus is at 0.9000, above which to trigger further recovery towards strong resistance zone at 0.9070/0.9100. Wider picture, however, shows bears off 0.9573, 09 Jan high, firmly in play.
Res: 0.9000, 0.9009, 0.9025, 0.9063
Sup: 0.8960, 0.8945, 0.8929, 0.8900
EUR/USD
Maintains positive near-term tone off 1.3365, 27 Feb low, retracing fully the recent 1.3485/1.3365 pullback. Hourly studies are supportive for fresh attempt through 1.3485, to test 1.3500, figure resistance and 1.3547, 02 Dec high. 20 day EMA, currently at 1.3460, underpins, ahead of static supports at 1.3388 and 1.3365/56, loss of which would delay immediate bulls. Larger timeframe’s outlook is bullish, as 20 day SMA is crossing above 90 day and break above current congestion to signal resumption of broader uptrend.
Res: 1.3485, 1.3500, 1.3547, 1.3567
Sup: 1.3450, 1.3400, 1.3388, 1.3365
GBP/USD
The pair regained strength after yesterday’s renewed attempt lower found ground at 1.5800, previous low, with fresh rally breaking above very strong barrier at 1.5900, 200 day SMA / last Friday’s high and previous peak of 08 Feb at 1.5926. This may signal fresh bull-phase, as price breaks above one-month 1.5900/1.5650 range and expose upside targets at 1.6000, round figure resistance and 1.6090/1.6129, 14 / 08 Nov 2011 highs, ahead of key medium-term barrier at 1.6164, 31 Oct 2011 peak. Daily studies are positive, while overbought hourly conditions see potential for corrective pullback, before fresh rally. Previous high at 1.5900 offers initial support, where also 20 day EMA lies, with reversal above 1.5850 required to keep bulls intact.
Res: 1.5937, 1.5950, 1.5989, 1.6000
Sup: 1.5900, 1.5871, 1.5865, 1.5850
USD/JPY
Remains in defensive, following pullback off the latest high at 81.65, posted on 27 Feb, with downside protected for now at 80.00, yesterday’s low. Upside attempts, however, remain capped by hourly Ichimoku cloud base at 80.70 zone, keeping the downside still vulnerable, along with weak hourly studies that hold below their midlines. Break above 80.68/77, previous highs and figure resistance at 81.00 is required to turn focus higher and open 81.65 peak for retest. Otherwise, risk is seen towards 80.00 base, loss of which to trigger further correction and expose 79.50 and 79.00 supports.
Res: 80.68, 80.77, 81.00, 81.24
Sup: 80.24, 80.00, 79.84, 79.50
USD/CHF
Near-term negative tone after upside rejection at 0.9000 barrier, continues to pressure, as price action holding just above last Friday’s high at 0.8929. Bounces higher are seen corrective, while below 0.9000, as larger timeframes show bears fully in play. Loss of 0.8929/00 handles to open way towards 200 day SMA and Fibonacci 61.8 expansion at 0.8765. Only lift above 0.9000 would delay for possible extension towards another strong barriers at 0.9070/0.9100 zone.
Res: 0.9000, 0.9009, 0.9025, 0.9063
Sup: 0.8934, 0.8929, 0.8900, 0.8850
EUR/USD
The near-term tone has weakened as the pair’s upside failure at 1.3485, previous high, triggered fresh weakness that accelerated on break below 1.3420/00, initial support zone. Loss of breakpoint at 1.3365/55, confirms near-term double top, as the price dips below 1.3320 support, 09 Feb previous peak. Hourly studies are well below their midlines, suggesting that further weakness is not ruled out, with break below 1.3290, 21 Feb high / Fib 38.2% of 1.2973/1.3485, required to open fresh leg lower and expose next supports at 1.3200 zone, 21/22 Feb higher platform and 1.3170, Fib 61.8%. Corrective attempt off yesterday’s low at 1.3313, holds under initial barrier at 1.3365, 27 Feb low / hourly20 day EMA, while more significant recovery is seen on regain 1.3400 handle, also 55 day EMA.
Res: 1.3365, 1.3400, 1.3421, 1.3485
Sup: 1.3313, 1.3300, 1.3290, 1.3229
GBP/USD
Cable maintained its bullish tone, despite greenback strengthened across the board, as price still holds above significant support at 1.5900, previous high and 200 day SMA. Fresh rally extended gains to 1.5991 so far, just under our initial target at 1.6000, with current easing seen corrective, as long as 1.5900/1.5880 zone contains. Larger timeframes studies remain positive and see potential for fresh attempt through 1.6000, to focus 1.6090/1.6100, 14 Nov high / Fib 161.8 projection, next target. Hourly studies weakened, as reversal off 1.5991 approaches 1.5900, also 55 day EMA, with break here to delay bulls and open way for stronger correction. Next strong supports lie at 1.5865, bull-channel support and 1.5800 higher platform, below which to signal return to three-week range.
Res: 1.5933, 1.5950, 1.5991, 1.6000
Sup: 1.5900, 1.5880, 1.5865, 1.5800
USD/JPY
The pair regained strength, as near-term base at 80.00 stayed intact, with lift above our initial barrier, turning the near-term focus higher. Hourly studies turned positive, with overnight’s correction being contained by 20 day EMA at 81.00 zone. Regain of yesterday’s high at 81.39 is required to open way for retest of 81.65 high, above which to resume broader uptrend and expose 82.00/20 next. Overextended daily studies, however, see risk of fresh reversal. Only loss of 80.00 would significantly weaken the short-term structure.
Res: 81.39, 81.65, 82.00, 82.20
Sup: 81.00, 80.82, 80.70, 80.24
USD/CHF
Extends reversal above 0.9000 barrier, breaking above bear-channel, to confirm near-term base at 0.9030 zone, extending gains to 0.9050 so far. Break here, also 55 day EMA on 4H chart, to open way for possible test of next strong resistance at 0.9100 zone. Near-term studies are positive, but overextended hourly conditions require caution, as daily studies maintain negative structure.
Res: 0.9078, 0.9100, 0.9125, 0.9150
Sup: 0.9019, 0.9000, 0.8945, 0.8929
EUR/USD
Near-term outlook remains negative, as the pair probes below 1.3200, to test next target at 1.3170, Fib 61.8% of 1.2973/1.3485 upleg and signal an end of overnight’s consolidation around 1.3200. Further weakness to focus 1.3100 zone next, as 20 day EMA caps the upside just above 1.3200. Daily chart shows studies turning negative, with break below 90 day SMA and current attempt at main bull trendline off 1.2973, to open way fresh extension lower. Daily congestion at 1.3485 limits the upside attempts on larger timeframe outlook. Immediate resistance lies at 1.3212, while only regain of 1.3265/81, 55 day EMA / 01 Mar low, would ease immediate bear pressure.
Res: 1.3200, 1.3212, 1.3265, 1.3281
Sup: 1.3169, 1.3145, 1.3114, 1.3100
GBP/USD
Continues to trend lower at the beginning of new week, with break below 50% retracement of 1.5650/1.5991 ascend, currently testing strong support at 1.5800 zone, 27/28 Mar higher platform / 4H Ichimoku cloud. Break here to further weaken the near-term structure, as 1/4H studies remain negative and turn immediate focus at next strong support zone at 1.5778/70, Fib 61.8% / Nov / Dec 2011 range ceiling, below which targets 1.5720/00. Daily studies are losing traction after false break above 200 day SMA. Initial resistance lie at 1.5844, also 20 day EMA, ahead of 1.5877/95, 55 day EMA / 01 Mar low, regain of which to improve near-term structure.
Res: 1.5844, 1.5877, 1.5895, 1.5935
Sup: 1.5808, 1.5800, 1.5778, 1.5770
USD/JPY
Near-term structure is weakening after the pair hit fresh 9-month high at 81.85 at the opening of Asian session. Profit taking pulled the price lower, with break below 81.50 support, also 20 day EMA, accelerating losses. Hourly indicators turned negative, as price broke below 55 day EMA, with immediate focus at strong support at 80.80 and very strong one at 80.00 zone, loss of which would risk temporary top and deeper reversal. Daily studies, however, remain positive, but overextended, that may suggest stronger corrective action ahead. At the upside, initial targets lie at 82.00/20.
Res: 81.44, 81.78, 81.85, 82.00
Sup: 81.00, 80.82, 80.77, 80.24
USD/CHF
The pair stays in a near-term recovery mode, after finding ground at 0.8930 zone. Upside clearance of 0.9000 and 0.9100 barriers, is currently attempting through short-term bear-channel resistance, above which to open way towards next significant barrier at 0.9200 and key levels at 0.9250/0.9300. Daily studies are regaining momentum, although still below their midlines, while lower timeframes maintain positive tone, as 20 day EMA at 0.9126, hold the downside for now.
Res: 0.9157, 0.9200, 0.9250, 0.9300
Sup: 0.9121, 0.9100, 0.9090, 0.9070
EUR/USD
Trades in a consolidative mode in past two days, after hitting fresh low at 1.3159 yesterday. Near-term price action continues to move around 1.3200 handle, as recovery attempt was limited under 55 day EMA. Hourly studies are rather neutral, while 4H chart outlook remains negative and keeps the downside favored, as long as initial resistances at 1.3250/80 stay intact. Loss of 1.3159, also near Fib 61.8%, to open way towards 1.3100, possibly 1.3026, 01/06 Feb lows. Only lift above 1.3300 would provide relief.
Res: 1.3207, 1.3240, 1.3281, 1.3300
Sup: 1.3186, 1.3159, 1.3114, 1.3100
GBP/USD
Yesterday’s strong rebound off 1.5785 low, reached levels close to key near-term barrier at 1.5900, previous lows and 200 day SMA, but gains ran out of steam. To improve short-term structure and re-focus upside targets at 1.6000/1.6100, clear break above 1.5900 is required. Hourly studies, however, are losing traction, as price broke below 20 day EMA at 1.5850 that may suggest further easing and retest of strong support zone at 1.5800/1.5770, below which to signal resumption of short-term downtrend off 1.5991.
Res: 1.5860, 1.5881, 1.5895, 1.5935
Sup: 1.5828, 1.5800, 1.5785, 1.5770
USD/JPY
The pair enters near-term sideways mode, after finding support at 81.14 yesterday. Holding above the latter and 81.00, keeps potential for fresh attack at key barriers at 81.65/86, break of which to resume an uptrend from 76.00 base. Hourly studies are neutral, while 4H indicators still in the positive territory, but pointing lower. Strong uptrend on daily chart remains intact, as studies are positive, but overbought conditions warn of stronger pullback.
Res: 81.57, 81.60, 81.85, 82.00
Sup: 81.28, 81.14, 81.00, 80.82
USD/CHF
The near-term price action holds positive tone after gains were capped at 0.9160 zone and subsequent easing found ground at 0.9100, also 55 day EMA. Fresh strength needs to clear initial barriers at 0.9160 and 0.9200 to re-focus key short-term resistances at 0.9250/0.9300. Hourly studies are regaining strength, while 4H structure remains supportive. Break above daily 55/90 day MA’s at 0.9220/55 is required to improve currently negative structure on a daily chart.
Res: 0.9160, 0.9200, 0.9250, 0.9300
Sup: 0.9100, 0.9070, 0.9044, 0.9020
EUR/USD
The pair remains under pressure, as yesterday’s break below main bull trendline off 1.2973, triggered fresh weakness that so far tested our next target at 1.3100. Current bounce remains limited at 1.3150 for now and is seen corrective, as long as 1.3200, figure resistance / 20 day EMA and more significant 1.3240, 05 Mar high, stay intact. Near-term studies remain in negative field and keep the downside favored. Break below 1.3100, to focus 1.3080, ahead of strong support zone at 1.3026/00.
Res: 1.3152, 1.3159, 1.3186, 1.3207
Sup: 1.3132, 1.3100, 1.3080, 1.3026
GBP/USD
Negative near-term tone continues to drive the pair lower, as recovery attempt stalled at 1.5880, keeping strong resistance at 1.5900 zone, previous lows / 200 day SMA, intact. Fresh weakness through 1.5800/1.5770, strong supports, lost another handle at 1.5700, bringing key short-term support at 1.5650 in focus. Lower timeframe studies remain negative, but hitting extreme levels that suggest corrective action, before fresh bears come in play. Current bounce off 1.5695, yesterday’s low, faces resistance at 1.5740, hourly 20 day EMA, while only sustained break above 1.5800, 05 Mar low / 55 day EMA, would ease bear pressure and allow for possible attempt towards 1.5880/1.5900 barriers.
Res: 1.5740, 1.5770, 1.5785, 1.5800
Sup: 1.5720, 1.5700, 1.5695, 1.5650
USD/JPY
Yesterday’s failure to sustain recovery from 81.00 and upside rejection at 81.57, triggered fresh weakness. Loss of 81.00 handle found temporary ground at 80.50 zone, with consolidation under way. Negative hourly studies, however, keep the downside vulnerable, as 4H chart indicators are breaking below their midlines, suggesting possible extension and test of 80.24, ahead of key short-term support at 80.00, as larger timeframe studies started pointing lower. Loss of 80.00 to signal stronger correction of strong rally from 76.00 base and mar near-term top at 81.86. to aver immediate downside risk, barriers at 81.00 and 81.33 must be regained.
Res: 80.93, 81.00, 81.14, 81.33
Sup: 80.62, 80.56, 80.24, 80.00
USD/CHF
Extends steady near-term recovery off 0.8930 double bottom, after break above 0.9160, 05 Mar previous high, approaches next barrier at 0.9200. Current easing on overbought hourly conditions is so far seen corrective, as 0.9160 holds dips and price moves around 20 day EMA. However, further reversal into 0.9150/00 is not ruled out, as hourly structure still sees space for further easing, but only loss of 0.9100 would delay bulls. Upside regain of 0.9200 to open key short-ter. barriers at 0.9250/0.9300. Daily studies are improving after break above bear-channel resistance, with 90/55 day SMA’s at 0.9231/54 seen as next hurdles on the way towards 0.9300.
Res: 0.9185, 0.9200, 0.9231, 0.9250
Sup: 0.9165, 0.9150, 0.9100, 0.9070
EUR/USD
The pair regained strength following yesterday’s brief dip under 1.3100 handle, where temporary support was found. Break above hourly Ichimoku cloud and attempt above 4H 20 day EMA and channel resistance, sees scope for stronger correction, as hourly studies moved above their midlines. Larger picture’s outlook, however, maintains more bearish tone, while daily studies are losing traction, as the price broke below main bull trendline. Strong resistance at 1.3240 zone, 05 mar high / 55 day EMA, is seen capping the upside attempts for now. Minor support lies at 1.3134, ahead of strong one at 1.3100 zone, loss of which to resume broader downtrend and expose 1.3026/00 next.
Res: 1.3187, 1.3207, 1.3234, 1.3240
Sup: 1.3165, 1.3134, 1.3100, 1.3080
GBP/USD
Moves in a near-term corrective mode after finding good support at 1.5700 zone. Improving hourly studies see potential for further extension higher and test of next strong barriers at 1.5770 and1.5780/85, 20 day EMA / 05 Mar low, as well as 1.5800/11, 28 Feb low / 55 day EMA, which are expected to limit gains, as 4H structure is still bearish. Sustained break here would avert downside risk, while regain of key barrier at 1.5900 zone, where also 200 day SMA lies, is required to improve the near-term structure, and turn focus off key short-term support at 1.5650.
Res: 1.5770, 1.5785, 1.5800, 1.5810
Sup: 1.5722, 1.5695, 1.5677, 1.5661
USD/JPY
Near-term price action remains steady above 80.60 higher base, where good support was found. Lift above initial barrier at 81.00, is looking for test of next static resistance at 81.57, 06 Mar high. Break here to possibly open 81.68 and 81.85 highs for retest, as hourly studies are positive and 4H indicators started to improve, with price holding above 20 day EMA. Only loss of 80.60 base would weaken the structure and risk return to key support at 80.00.
Res: 81.38, 81.57, 81.68, 81.85
Sup: 81.17, 81.00, 80.64, 80.56
USD/CHF
Undergoes near-term corrective phase, after strong bounce off 0.8930 double-bottom broke above channel resistance, tested our next target at 0.9200. Reversal has so far found support at 0.9140 zone, 20 day EMA, with possible further easing towards strong support at 0.9100, previous low / broken bear trendline, not ruled out, before bulls re-assert, as hourly studies are pointing lower. Upside clearance of 0.9200, to open 0.9250/60, ahead of key short-term barrier at 0.9300, 16 Feb high. Only loss of 0.9100 handle, would weaken the structure and put near-term bulls on hold.
Res: 0.9173, 0.9200, 0.9231, 0.9250
Sup: 0.9142, 0.9100, 0.9090, 0.9070
EUR/USD
The pair maintains negative tone off last week’s high at 1.3277, accelerating losses after last Friday’s jobs data. Brief break below strong support at previous base at 1.3100, signal further weakness. Top of daily Ichimoku cloud at 1.3080, now offers initial support, as the latest slide was contained here, with bounce on oversold hourly studies, seen corrective. Immediate resistance lies at 1.3123, overnight’s high / hourly 20 day EMA, ahead of 1.3160, 55 day EMA. Negative near-term studies keep the downside favored for now, with strong supports at 1.3026, 01/06 Feb lows and figure support at 1.3000, to come in focus.
Res: 1.3123, 1.3134, 1.3164, 1.3200
Sup: 1.3080, 1.3026, 1.3000, 1.2973
GBP/USD
Last Friday’s sharp slide off 1.5800 zone, cleared initial supports at 1.5720/00, to test key short-term support zone at 1.5650, where temporary footstep was found. Corrective bounce faces immediate barriers at 1.5700, previous low / 20 day EMA and 1.5720, while only break above 1.5750 would ease immediate bear pressure, as negative hourly studies are at their extreme levels. On the downside, loss of 1.5650 to signal break below 5-week range and open 1.5600 zone next, figure support / 50% retracement of 1.5233/1.5991 upleg.
Res: 1.5690, 1.5700, 1.5722, 1.5750
Sup: 1.5650, 1.5612, 1.5600, 1.5530
USD/JPY
Holds positive tone after last Friday’s surge through 82.00/20 barriers and weekly close above 82.00 and weekly Ichimoku cloud, opening way for stronger reversal of long-term downtrend. Next significant barrier lies at 82.97, Fib 38.2% of downleg from 2010 high at 94.97 to record low at 75.56. On the downside, corrective pullback off fresh 10-month high at 82.63, posted last Friday, so far holds above initial support at 82.00, with next levels at 81.84, Fib 38.2% of 80.55/82.63 / 55 day EMA and 81.40, Fib 61.8. Only loss of the latter would weaken the near-term structure and risk test of key near-term support at 80.55, 06/07 Mar higher platform.
Res: 82.38, 82.50, 82.63, 82.97
Sup: 82.10, 82.00, 81.88, 81.60
USD/CHF
Strong rally from last week’s higher base at 0.9070, has cleared previous high and strong barrier at 0.9250, to signals further extension higher and test of 0.9250 and key short-term resistance at 0.9300, previous high / daily Ichimoku cloud base. Overextended hourly studies see potential for stronger correction, as the pair tests levels under 0.9200, with 0.9188, overnight’s low / 20 day EMA, coming first, ahead of 0.9160, Fib 38.2% of 0.9070/0.9217 rally / 55 day EMA, where dips should be contained, to keep bulls in play.
Res: 0.9200, 0.9217, 0.9250, 0.9260
Sup: 0.9188, 0.9173, 0.9159, 0.9126
EUR/USD
Stays flat during the European and early hours of US session, after bounce off day’s low at 1.3077, where daily 55 day SMA contained losses, holds at 1.3130. Hourly studies are gaining momentum, signaling possible stronger correction, however, clearance of 20 day EMA, where the price currently hovers and 55 day EMA at 1.3150, is seen required to improve the structure. Larger timeframes show more negative outlook, as 4H studies hold below the centerlines, while daily ones currently attempting below. Loss of 1.3077 to open next array of supports at 1.3026/00, ahead of key short-term support at 1.2973.
Res: 1.3134, 1.3150, 1.3164, 1.3200
Sup: 1.3100, 1.3077, 1.3026, 1.3000
GBP/USD
Continues to travel south after losses from 1.5830/00 zone were initially held at 1.5650, key short-term support, where the price consolidated. Fresh weakness through 1.5650, so far tested figure support at 1.5600, with more losses seen, as the pair breaks below one-month range-trading phase, base of which was at 1.5650. Next targets lie at 1.5523, Fib 61.8% of 1.5233/1.5991 and 1.5500, round figure support. Daily structure is losing momentum, as break below 90/55 day SMA’a at 1.5671/65, further weakens the structure. Hourly studies are negative, holding at their extreme levels, however, no signal of reversal yet.
Res: 1.5640, 1.5694, 1.5700, 1.5722
Sup: 1.5600, 1.5523, 1.5500, 1.5422
USD/JPY
Remains in a near-term consolidative mode, holding just above 82.00, previous resistance, now reverted to support, also 55 day EMA, following the last Friday’s strong rally that posted fresh high at 82.63. Downside pressure is still seen on near-term picture, as hourly studies are losing momentum that may result in stronger correction of the recent 80.55/82.63 upleg. Below 82.00, to focus Fibonacci level of 38.2% at 81.84, while only break below Fib 61.8% at 81.36 and figure support at 81.00 would significantly weaken near-term structure and risk return to strong support at 80.55. Wider picture’s outlook remains positive, despite indicators being at their highs, with lift above 82.63 to open 82.97, Fib 38.2% of downleg from 2010 high at 94.97 to record low at 75.56.
Res: 82.38, 82.50, 82.63, 82.97
Sup: 82.10, 82.00, 81.84, 81.60
USD/CHF
Extends near-term corrective action of day’s high at 0.9217, after break below initial support at 0.9200, so far tested Fib 23.6% of 0.9070/0.9217 at 0.9180. Near-term studies continue to point lower, as ROC 22 attempts below the centerline, suggesting that deeper correction is not ruled out. Immediate supports lies at 0.9160/43, 55 day EMA / 38.2% / 50%, ahead of 61.8% retracement at 0.9126, loss of which to confirm near-term top and re-focus 0.9100/0.9070, support zone. Larger timeframes, such as 4H, show more positive tone, however, clearance of 0.9217, required to open next array of strong barriers at 0.9250/0.9300, previous range ceiling / 90/55 day SMA’s and previous high of 16 Feb high / daily Ichimoku cloud base.
Res: 0.9200, 0.9217, 0.9250, 0.9260
Sup: 0.9188, 0.9177, 0.9160, 0.9126
EUR/USD
Improves the near-term tone after recent losses found support at 1.3080 zone and subsequent bounce cleared initial resistances at 1.3130/50. Price reached high at 1.3190 during Asian session, just ahead of 1.3200, figure resistance and 55 day EMA, clearance of which is required to open next barriers at 1.3250 and possible test of key near-term barrier at 1.3290, 08 Mar high. Hourly studies hold positive tone, after pullback from 1.3190 found footstep at 1.3150, where 20 and 55 day EMA’s contained dips for now, with price action required to hold above here to keep near-term focus at the upside. Next supports lie at 1.3130/00, with key one at 1.3077.
Res: 1.3190, 1.3200, 1.3231, 1.3255
Sup: 1.3147, 1.3130, 1.3100, 1.3077
GBP/USD
Near-term price action moves in a consolidative mode, after yesterday’s break below key short-term support at 1.5650, tested next support at 1.5600. Hourly studies remain negative and keep the downside favored, with upside being capped so far at 1.5660, daily90 day SMA, ahead of strong resistance at 1.5700, previous lows / 20 day EMA and only break here to allow for stronger rally. On the downside, loss of 1.5600 to open 1.5523, Fib 61.8% and 1.5500, round figure support.
Res: 1.5660, 1.5694, 1.5700, 1.5722
Sup: 1.5600, 1.5523, 1.5500, 1.5422
USD/JPY
Extends near-term consolidation after hitting fresh 10-month high at 82.63. Dips have so far been contained at 82.00, initial support zone. While the latter holds, potential is seen for fresh attempt towards 82.50/63 barriers, above which to resume broader uptrend. Hourly studies are neutral/positive, however, conditions on daily chart are overextended that may suggest stronger correction before bulls resume. Below 82.00, to face Fibonacci supports at 81.84 and 81.36, ahead of figure support at 81.00 and key one at 80.55.
Res: 82.50, 82.63, 82.97, 83.50
Sup: 81.95, 81.84, 81.60, 81.50
USD/CHF
Extends near-term corrective action of yesterdayy’s high at 0.9217, after break below initial support at 0.9200, retracing 50% of initial 0.9070/0.9217 rally at 0.9140. Ideally, reversal here would keep the near-term bulls intact for fresh attempt at 0.9217 and possible extension towards strong barriers at 0.9250/0.9300, as 4H chart studies remain positive. Loss of 0.9140 and more significant level at 0.9126, Fib 61.8% / 55 day EMA, however, would weaken the near-term structure and turn focus towards 0.9100/0.9070.
Res: 0.9164, 0.9177, 0.9200, 0.9217
Sup: 0.9138, 0.9126, 0.9100, 0.9070
EUR/USD
Negative short-term sentiment continues to push the pair lower. Break below yesterday’s low at 1.3050, 50% retracement of 1.2973/1.3485 upleg, approaches our next target at 1.3026, 01/06 Feb lows, ahead of Fibonacci 161.8 projection at 1.3007 and figure support at 1.3000, with key short-term support at 1.2973, 16 Feb low, coming in focus. Near-term studies are negative and keep the downside favored, with strong resistance at 1.3080/90 zone, today’ s high / 12 Mar low / 20 day EMA, expected to limit the upside. Only lift above 1.3120/30, yesterday’s intraday low / Fib 61.8% of 1.3190/1.3030, to improve near-term structure.
Res: 1.3077, 1.3090, 1.3100, 1.3120
Sup: 1.3030, 1.3026, 1.3007, 1.2973
GBP/USD
Yesterday’s strong rally off 1.5720 higher low, extended near-term recovery from 1.5600, hitting 1.5745, just under 55 day EMA and short-term bear-trendline off the recent high, before returning below 1.5700. Near-term studies are losing traction, however, while 1.5650, today’s low and previous strong support holds, we see potential for fresh attempt higher. Clearance of yesterday’s high and bear-trendline at 1.5745, is required to improve and signal a resumption of rally from 1.5600, for possible test of key near-term barriers at 1.5800/30. Loss of 1.5650, however, risks lower top and extension of broader downtrend off 1.5991, with initial support at 1.5600 and 1.5523/00, seen on a break.
Res: 1.5693, 1.5700, 1.5711, 1.5745
Sup: 1.5647, 1.5620, 1.5600, 1.5550
USD/JPY
The pair maintains strong uptrend off 76.00 base, as the latest leg higher followed near-term 82.63/82.00 consolidation. Fresh gains through our initial target at 83.00, so far reached 83.30, with 84.00/50 levels seen next, ahead of strong barriers and short-term targets at 85.27, 50% retracement of 94.97/75.56 bear-phase and 85.51, 2011 high, posted on 03 Apr 2011. Near-term studies remain supportive, however, corrective pullback on overbought conditions, not ruled-out. Initial support lies at 83.00, ahead of previous high at 82.63. Only loss of 82.00 higher base, would delay.
Res: 83.30, 83.50, 84.00, 84.50
Sup: 83.00, 82.63, 82.50, 82.00
USD/CHF
Continues to trend higher after leaving higher low at 0.9138 yesterday, with clearance of strong barriers at 0.9200/50, to open way towards key short-term resistance at 0.9300. Hourly studies are at their highs that suggests pause in current rally, in favor of corrective easing. Supports lie at 0.9250/20, ahead of 0.9200, previous high / 55 day EMA, which is expected to contain dips.
Res: 0.9273, 0.9300, 0.9338, 0.9350
Sup: 0.9250, 0.9220, 0.9200, 0.9187
EUR/USD
The pair continues to travel south after break below 55 day SMA at 1.3080, daily Ichimoku cloud base at 1.3050 and static support at 1.3026, tested psychological support at 1.3000. Basing attempt is seen here, as the price bounces higher. Corrective rally has so far tested 1.3050, initial barrier, ahead of 1.3065, 55 day EMA and yesterday’s high at 1.3080, before bears take control. Main short-target lies at 1.2973, 16 Feb low, with daily studies in the negative territory, keeping the overall bearish tone in play. Only break above 1.3100/20 to offer near-term relief and allow for stronger correction.
Res: 1.3065, 1.3077, 1.3090, 1.3100
Sup: 1.3014, 1.3000, 1.2973, 1.2950
GBP/USD
Near-term price action seems to be running out of steam, as upside remains capped at 1.5715, main bear trendline and double top at 1.5745. Brief break below 1.5650 support keeps the downside vulnerable, as near-term studies hold below the midlines. Firm break below 1.5650/35 and test of 1.5600 would be the likely scenario, with break here to signal resumption of short-term downtrend off 1.5990 and expose 1.5500 zone for test. Only lift above 1.5745 would ease bear-pressure and allow test of strong barrier at 1.5800/30.
Res: 1.5700, 1.5715, 1.5745, 1.5800
Sup: 1.5650, 1.5635, 1.5620, 1.5600
USD/JPY
Corrects the latest rally that cleared our target at 84.00 and posted fresh high at 84.17, as hourly studies hit extreme levels. Reversal has so far tested initial support at 83.50 zone, with room seen for further easing towards next static support at 83.00, also 20 day EMA, before bulls re-assert, as overall very bullish structure on larger timeframes shows not signal of stronger correction, despite over-extended studies.
Res: 84.00, 84.17, 84.50, 85.00
Sup: 83.50, 83.00, 82.63, 82.50
USD/CHF
The pair’s near-term price action is in a corrective mode, after yesterday’s rally through key short-term barrier at 0.9300, posted fresh high at 0.9333, levels last time seen at the end of Jan. Loss of 0.9300 handle looks for test of next significant support at 0.9250, where also 55 day EMA lies, ahead of 0.9200 zone, loss of which to weaken the short-term structure. Daily studies, however, are turning bullish and see potential for further extension of short-term bull-leg off 0.8930 double bottom.
Res: 0.9300, 0.9333, 0.9350, 0.9376
Sup: 0.9250, 0.9220, 0.9200, 0.9187
EUR/USD
The pair did not show much action during the European session, holding within a narrow range consolidation, above day’s high at 1.3000. Gains were so far capped by 55 day EMA at 1.3065, as hourly studies remain weak. Possible extension towards 1.3080/90 is not ruled out, but negative structure keeps the downside favored. Below 1.3000 to focus 1.2973, 16 Feb low and 1.2952, Fib 61.8% of 1.2622/1.3485 ascend.
Res: 1.3065, 1.3077, 1.3090, 1.3100
Sup: 1.3037, 1.3014, 1.3000, 1.2973
GBP/USD
Moves in a choppy sideways mode, with upside being limited under 1.5700 barrier and hourly studies holding below their midlines. Immediate focus lies at day’s lows at 1.5630 zone, ahead of more significant 12 mar low at 1.5600, loss of which to resume broader weakness off 1.5991 and open 1.5500 zone next. Strong barriers at 1.5711/45, main bear trendline / 13/14 Mar double top, keep the upside well protected for now.
Res: 1.5687, 1.5700, 1.5711, 1.5745
Sup: 1.5635, 1.5620, 1.5600, 1.5550
USD/JPY
Corrective pullback off today’s fresh high at 84.17 extends losses under Fib 38.2% of 81.95/82.00 upleg, as hourly studies are entering negative territory. This may risk an extension into 83.00, 50% and more significant supports at 82.63 and 82.00 zone, where 55 day EMA lies. Larger picture’s structure remains positive, but overextended studies see potential for stronger correction.
Res: 83.50, 83.83, 84.00, 84.17
Sup: 83.06, 83.00, 82.63, 82.50
USD/CHF
The pair’s near-term price action is in a corrective mode, after yesterday’s rally through key short-term barrier at 0.9300, posted fresh high at 0.9333, levels last time seen at the end of Jan. Loss of 0.9300 handle so far tested support at 0.9250, where also 55 day EMA lies, ahead of 0.9200 zone, 50% retracement of 0.9070/0.9333 ascend. Near-term structure is weakening, as hourly studies are breaking below the midlines. Daily studies, however, are turning bullish and see potential for further extension of short-term bull-leg off 0.8930 double bottom, with the latest reversal still seen corrective.
Res: 0.9287, 0.9300, 0.9317, 0.9333
Sup: 0.9250, 0.9232, 0.9220, 0.9200
EUR/USD
Holds the near-term positive tone off last week’s low at 1.3000, as last Friday’s price action accelerated gains to test 1.3186, Fib 38.2% of 1.3485/1.3000 descend, also 13 Mar previous high. The pair currently moves sideways, holding the narrow range, as consolidation of the latest strong rally. Positive near-term studies see potential for further recovery, with 20 day EMA underpinning at 1.3150 and break above 1.3190 barrier, to open next strong resistance at 1.3290/1.3300, 08 Mar high / Fib 61.8%. Only loss of 1.3120 would weaken the near-term structure.
Res: 1.3186, 1.3190, 1.3243, 1.3290
Sup: 1.3160, 1.3150, 1.3120, 1.3100
GBP/USD
Last week’s strong recovery rally off 1.5600 base, turned focus higher, as the price broke above key near-term barriers at 1.5830/42, 08 Mar high / Fib 61.8% of 1.5991/1.5600 downleg. Strong barrier of 200 day SMA at 1.5860, has been tested so far, with break here to open way towards next hurdles at 1.5880/1.5900. Hourly and 4H studies are extended that may risk stronger correction, however, positive structure would stay unharmed, while dips holds above 1.5750.
Res: 1.5860, 1.5881, 1.5900, 1.5965
Sup: 1.5817, 1.5800, 1.5760, 1.5735
USD/JPY
Corrective pullback off last week’s fresh 11-month high, has so far found good support just above 83.00 handle, also 20 day EMA, however, negative hourly studies see potential for further reversal. Next strong supports lie at 82.80/63, 50% retracement / 09 mar previous high, while only loss of 82.00 handle, also Fib 61.8%, would turn short-term focus lower. Daily studies are over-extended, however, no firm signal of reversal seen yet. On the upside, 83.55 offers initial resistance, ahead of 84.00.
Res: 83.55, 83.60, 83.93, 84.00
Sup: 83.00, 82.80, 82.50, 82.37
USD/CHF
Near-term structure holds negative tone, as reversal off 0.9333, last week’s fresh high, broke below main bull trendline, drawn off 0.8930 low and Fib 38.2% at 0.9180. The price now approaches next strong support at 0.9138, 13 Mar low / 50% retracement, with current consolidation seen capped at 0.9200, 15 Mar low , 55 day EMA. Daily studies are losing traction and see risk of further reversal, while only regain of 0.9250 averts immediate downside risk.
Res: 0.9172, 0.9200, 0.9215, 0.9252
Sup: 0.9150, 0.9138, 0.9100, 0.9070
EUR/USD
Corrective pullback off last Friday’s high at 1.3186, also Fib 38.2% of 1.3485/1.3000, so far found footstep at 1.3140, 55 day EMA, but hourly studies continues to point lower. This sees potential of further easing towards next support at 1.3120/00, below which to open 1.3090, bull trendline off 1.3000 and 55 day SMA, where potential dips should be contained, to keep short-term bulls in play. On the upside, 1.3186 offers initial resistance, with break here to resume recovery and expose next strong barrier at 1.3290, 08 Mar high / Fib 61.8%.
Res: 1.3169, 1.3186, 1.3190, 1.3243
Sup: 1.3140, 1.3120, 1.3100, 1.3090
GBP/USD
Brief consolidation under last Friday’s high and 200 day SMA at 1.5860, was contained at 1.5820. Fresh strength broke above 1.5860, initial barrier and also cleared 1.5881, 06 Mar high. Overbought hourly and extended studies on 4H chart warn of pullback, with 20 day EMA at 1.5835 and day’s low at 1.5820, offering initial support. Today’s close above 200 day SMA would signal further strengthening and possible attempt at 1.5990/1.6000 zone.
Res: 1.5881, 1.5888, 1.5900, 1.5974
Sup: 1.5820, 1.5800, 1.5760, 1.5735
USD/JPY
The pair bounces off today’s low at 83.00, where the pullback off recent fresh high at 84.17 found temporary support. Initial barrier at 83.55 has been regained, with clearance of 83.93 required to re-focus 84.17, as hourly studies are gaining momentum. Upside rejection under 83.93, however, may risk lower top, ahead of fresh weakness, as studies on 4H chart are still pointing lower. Overextended daily studies also see risk of stronger correction of the recent strong rally from 76.00.
Res: 83.55, 83.60, 83.93, 84.00
Sup: 83.20, 83.00, 82.80, 82.50
USD/CHF
The pair remains under pressure, after extending pullback from 0.9333, 15 Mar peak, through main bull trendline and Fib 38.2% at 1.3180.Near-term consolidation above 0.9150, day’s low is under way, with 20 day EMA limiting gains and hourly studies still in the negative territory, seeing potential for further easing and test of 0.9138/34, 13 Mar low / 50% retracement, next. On the upside, lift above 0.9200, initial barrier would improve the near-term structure.
Res: 0.9176, 0.9200, 0.9215, 0.9252
Sup: 0.9150, 0.9138, 0.9100, 0.9070
EUR/USD
Steady recovery off last week’s 1.3000 low surged through 1.3190/1.3200 barriers on yesterday’s strong rally, to break above 50% retracement of 1.3485/1.3000 downleg and reach 1.3264 high so far. The pair holds above 1.3200 handle for now, as slight easing on overbought hourly studies was seen during the Asian session. Near-term studies remain positive, as 20 day EMA crossed above 55 day EMA on 4H chart, with hourly 20 day EMA holding the price for now. Immediate targets lie at 1.3290/1.3300, 08 Mar high / Fib 61.8%, above which to open way towards recent highs of end of Feb. Previous highs at 1.9190 zone offer strong support, ahead of yesterday’s low at 1.3141, loss of which would delay.
Res: 1.3243, 1.3264, 1.3290, 1.3300
Sup: 1.3224, 1.3200, 1.3190, 1.3141
GBP/USD
Daily structure improves after regain of 200 day SMA, with studies breaking above the centerlines and looking for extension towards recent highs at 1.6000 zone. Lower timeframes hold positive tone, with the latest corrective easing, finding for now footstep at 1.5860, previous high, however, possible further easing towards strong support at 1.5830/00 is not ruled out and only break here to weaken short-term bullish structure.
Res: 1.5900, 1.5913, 1.5974, 1.5991
Sup: 1.5860, 1.5830, 1.5820, 1.5800
USD/JPY
Near-term price action shows consolidation at 83.50 zone, after reversal from 84.17 high, found support at 83.00. The pair currently moves sideways, holding within narrow range, with hourly studies being neutral, while larger timeframe’s structure remains positive, despite hitting extreme points. Break above the recent range ceiling at 83.60 is required turn focus higher and open 84.00/17, above which to resume broader uptrend and expose targets at 85.30/50 zone. On the downside, risk is seen on loss of 83.00, yesterday’s low and 82.80, Fib 38.2% that would allow for stronger correction.
Res: 83.55, 83.60, 83.93, 84.00
Sup: 83.28, 83.00, 82.80, 82.50
USD/CHF
Remains in a near-term downtrend off 0.9333, 15 Mar high, as yesterday’s fresh slide through 0.9200 handle tested 0.9086, Fib 61.8% of 0.8930/0.9333 upleg. Corrective bounce holds under 20 day EMA at 0.9120 for now, with strong barriers at 0.9150/76, expected to cap, as near-term studies remain weak. Break below yesterday’s low and 08 Mar higher low at 0.9070, to sideline short-term bulls and turn focus towards 0.8930 double bottom, as daily studies are attempting below their midlines.
Res: 0.9120, 0.9150, 0.9176, 0.9200
Sup: 0.9100, 0.9090, 0.9070, 0.9020
EUR/USD
Reversal off yesterday’s high at 1.3264 is attempting to base at 1.3170 zone, where hourly 55 day EMA contained dips, after initial support at 1.3190 has been dented. Hourly studies are improving as the price bounces through 1.3200 and 20 day EMA at 1.3211, turning the focus higher. Regain of yesterday high at 1.3264 is required to resume short-term bulls off 1.3000 and open next array of resistances at 1.3290/1.3300, 08 Mar high / Fib 61.8% of 1.3485/1.3000 descend.
Res: 1.3240, 1.3264, 1.3290, 1.3300
Sup: 1.3190, 1.3170, 1.3141, 1.3100
GBP/USD
The pair attempts to base at 1.5830, day’s low / 08 Mar high, after pullback from fresh high at 1.5913, posted yesterday, briefly broke under 200 day SMA. Hourly studies, however, remain weak and risk of fresh weakness still exists. To avoid such scenario, we need to see break above 1.5913 that will improve the near-term structure. Otherwise, potential is seen for break below 1.5830/20 base that will allow for stronger reversal and open initial targets at 1.5800/1.5760.
Res: 1.5885, 1.5900, 1.5913, 1.5974
Sup: 1.5830, 1.5820, 1.5800, 1.5757
USD/JPY
The near-term price action remains entrenched within 83.00/83.80 range, after bounce off 83.00, regained initial barrier at 83.60, but failed on approach to the next barrier at 84.00 zone. The near-term studies remain neutral after yesterday’s Doji candle on daily chart, with break of either limit to define the near-term price direction. Extended daily studies, however, see potential for stronger reversal.
Res: 83.82, 83.93, 84.00, 84.17
Sup: 83.28, 83.00, 82.80, 82.50
USD/CHF
Returns to weakness, as the near-term recovery attempt off yesterday’s low at 0.9090, stalled at the first barrier at 0.9150. Fresh slide aims at 0.9100/0.9090, loss of which to resume short-term bears off 0.9333 high and expose next static supports at 0.9070/20. Today’s high at 0.9150, also 55 day EMA, is expected to cap the upside for now.
Res: 0.9138, 0.9150, 0.9176, 0.9200
Sup: 0.9100, 0.9090, 0.9070, 0.9020
EUR/USD
The pair continues to trend higher after yesterday’s close above 1.3200 handle, with overnight’s fresh strength, approaching key short-term barrier at 1.3290/1.3300, 08 Mar peak / Fib 61.8%. Near-term structure remains supportive and clearance of 1.3290/1.3300 to confirm bottom at 1.3000 and expose previous support and break point at 1.3360 zone. Immediate support lies at 1.3250, yesterday’s high / 20 day EMA, ahead of 1.3210, 55 day EMA and key near-term support at 1.3170, yesterday’s low / Fib 38.2% of 1.3000/1.3282. Only break here would delay bulls.
Res: 1.3240, 1.3264, 1.3290, 1.3300
Sup: 1.3250, 1.3210, 1.3190, 1.3170
GBP/USD
The upside levels above 1.5900 stay intact for now, as the pair moves sideways, holding just above broken 200 day SMA, currently at 1.5856. Hourly studies are still neutral, while daily structure sees signs of improvement, however, clear break above 1.5900/13 is required to confirm and open 1.6000 zone for retest. On the downside, 200 day SMA offers initial support, ahead of 1.5830/20 higher base, also 20 day EMA, with break below here to weaken the near-term structure.
Res: 1.5894, 1.5900, 1.5913, 1.5974
Sup: 1.5856, 1.5830, 1.5820, 1.5800
USD/JPY
The near-term price action remains entrenched within 83.00/83.80 range, after bounce off 83.00, regained initial barrier at 83.60, but failed on approach to the next barrier at 84.00 zone. The near-term studies remain neutral, with break of either limit to define the near-term price direction. Extended daily studies, however, see potential for stronger reversal.
Res: 83.75, 83.82, 83.93, 84.00
Sup: 83.52, 83.28, 83.00, 82.80
USD/CHF
Returns to weakness, as the near-term recovery attempt off yesterday’s low at 0.9090, stalled at the first barrier at 0.9150. Fresh slide aims at 0.9100/0.9090, loss of which to resume short-term bears off 0.9333 high and expose next static supports at 0.9070/20. Yesterday’s high at 0.9150, is expected to cap the upside for now.
Res: 0.9124, 0.9138, 0.9150, 0.9176
Sup: 0.9078, 0.9070, 0.9020, 0.9000
EUR/USD
Remains in a near-term range-trade, as the upside targets at 1.3290/1.3300 zone, stay intact for now. However, the downside was so far protected at 1.3170, 20 Mar low, where yesterday’s fall found support. Hourly studies are rather neutral, while 4H ones, still in the positive territory, started pointing lower. Upside rejection below 1.3283 would signal possible completion of 4H head and shoulders pattern, with break below 1.3170 base, also neckline, required to confirm. On the upside, break above current range and clearance of key near-term barriers at 1.3290/1.3300 would open way for fresh extension of short-term uptrend of 1.3000, 15 Mar low.
Res: 1.3264, 1.3290, 1.3300, 1.3331
Sup: 1.3213, 1.3190, 1.3170, 1.3140
GBP/USD
Four-hour chart shows the near-term price action in consolidative mode after upside false break above previous high at 1.5913 and subsequent reversal into 1.5820 zone, where the pair found footstep. Regain of 200 day SMA, keeps the positive tone in play, with hourly studies gaining momentum. Break above 1.5922, yesterday’s peak, is required to resume rally from 1.5600 base, for possible attack at 1.6000 zone target. Strong support lies at 1.5855, also 200 day SMA, while only break below 1.5820/00, range floor / Fib 38.2% of 1.5600/1.5922, would weaken near-term tone.
Res: 1.5894, 1.5900, 1.5913, 1.5974
Sup: 1.5855, 1.5830, 1.5820, 1.5800
USD/JPY
Continues to move sideways, as renewed attempt higher failed to reclaim previous high at 84.14. Near-term range floor at 83.00 holds the downside for now, however, negative hourly studies keep the focus at the downside, as studies on the daily chart started pointing lower, off their extreme levels. Risk is seen on loss of 83.00 base, also 55 day EMA that may trigger stronger correction, with immediate downside targets at 82.63, 09 Mar high and 82.00, Fib 61.8% of 80.57/84.17 upleg. Immediate resistance lies at 83.50, while regain of 83.80 would ease downside pressure.
Res: 83.50, 83.82, 83.93, 84.08
Sup: 83.12, 83.00, 82.80, 82.63
USD/CHF
Near-term recovery attempt off 0.9075, yesterday’s low / near Fib 61.8% of 0.8930/0.9333 ascend, was capped at initial resistance at 0.9150, where the fresh weakness started. As the hourly studies approach negative territory and price breaks below 20 day EMA, immediate risk is seen on retest of 0.9075/70 support, below which to resume short-term downtrend and expose 0.9000, next target. On the upside, strong resistance at 0.9150 is expected to cap.
Res: 0.9124, 0.9150, 0.9176, 0.9200
Sup: 0.9093, 0.9075, 0.9070, 0.9020
EUR/USD
Holds near-term momentum, despite overnight’s return to last Friday’s closing levels, after gap higher opening today. Regain of hourly 20 day EMA at 1.3340, turn the near-term focus towards the past couple of days range top at 1.3380 zone. Break here is required to resume short-term bulls off 1.3000 base, with lift above 1.3400 barrier to open 1.3434, 0% retracement of med-term 1.4246/1.3000 descend and key resistance at 1.3485, end of Feb double-top. Daily studies remain supportive, as the pair’s weekly close above broken main bear-trendline, sees potential for further gains. Overnight’s low at 1.3330 offers initial support, along with hourly 55 day EMA, ahead of next one at 1.3300 zone, where last Friday’s lows lie, along with main bull trendline, drawn off 1.3000 base. Only loss of higher platform and near-term range floor at 1.3250 zone, would weaken the structure.
Res: 1.3375, 1.3384, 1.3400, 1.3434
Sup: 1.3330, 1.3308, 1.3290, 1.3280
GBP/USD
Holds steady after last Friday’s attempt above 1.6000 barrier that peaked at 1.6036 and subsequent pullback being contained at previous support at 1.5980 zone. Improving hourly structure and fresh rally through 1.6000, looks for retest of 1.6036, above which to signal an end of near-term consolidation and open initial targets at 1.6090/1.6100, ahead of more significant levels at 1.6130 and 1.6164, 31 Oct 2011 high / Fib 61.8% of broader 1.6745/1.5233 downleg. Strong support at 1.6000/1.5970 zone is expected to hold the downside, while only break below 1.5920/00 would delay bulls.
Res: 1.6050, 1.6090, 1.6100, 1.6130
Sup: 1.6000, 1.5980, 1.5965, 1.5950
USD/JPY
The pair recovers recent losses, after brief break below key short-term support zone at 82.95/85, bottomed 81.82 last Friday and subsequent bounce, along with gap higher today’s opening, regain important barrier at 83.00, hitting 83.29 high. Reversal from here needs to hold above 55 day EMA at 82.75, to keep the near-term structure intact for possible fresh attempt higher and retest of key near-term barriers at 83.30/38, above which to confirm bottom at 81.82 and avert immediate risk of further easing. However, studies on the daily chart remain negative and see risk of fresh weakness, especially if 83.38 stays intact. Break below 81.82, last Friday’s low, to expose Fib 38.2% at 81.05.
Res: 83.30, 83.38, 83.82, 84.00
Sup: 82.82, 82.75, 82.50, 82.00
USD/CHF
The downside remains in pressure, as fresh weakness seen overnight and gap lower opening, tested our next downside target at 0.9000. brief bounce higher is so far seen corrective, as hourly studies hold below their midlines and initial barrier at 0.9043, stays intact. Situation on daily chart shows fresh bearish momentum developing, as the price broke below trendline support at 0.9020, with 0.9000 being already dented. This may open way for extension towards 0.8958, Fib 61.8% of larger 0.8566/0.9593 ascend, ahead of key short-term support at 0.8930. Only break above last Thursday’s high at 0.9091 would delay bears.
Res: 0.9030, 0.9043, 0.9070, 0.9091
Sup: 0.9015, 0.9000, 0.8950, 0.8930
EUR/USD
The near-term range ceiling at 1.3380 zone stays intact for now, as today’s renewed attempt higher, failed t break higher, stalling at 1.3380. Subsequent weakness brings last Friday’s low / trendline support at 1.3300 in focus. Break here would weaken the structure in favor of extension towards next array of supports at 1.3280/50 zone, with loss of the latter to signal near-term top and sideline bulls. Hourly and 4H studies are pointing lower and keep the downside vulnerable.
Res: 1.3330, 1.3375, 1.3384, 1.3400
Sup: 1.3300, 1.3290, 1.3280, 1.3250
GBP/USD
Short-term bulls extended gains today and post fresh yearly high at 1.6061. Sharp reversal from here was triggered on overbought hourly studies and MACD bearish divergence, shown on 1 and4H charts. Break below initial support at 1.6036, previous high and attempt through 1.6000, would weaken the near-term structure in case 1.6000 support gives way for extension towards 1.5980/65, next support zone. Larger timeframe’s structure remains positive and only loss of 1.5920//00 would sideline bulls and open way for fresh weakness.
Res: 1.6025, 1.6036, 1.6050, 1.6061
Sup: 1.5980, 1.5965, 1.5950, 1.5900
USD/JPY
Remains under pressure, as reversal off today’s high at 83.30, just ahead of strong barrier at 83.38, where gains stalled. Loss of 83.00 handle and 55 day EMA at 82.75, triggered fresh extension lower, with 82.00 zone coming under pressure, as hourly studies are breaking below the midlines that may risk retest of key near-term support and breakpoint at 81.95/85, loss of which to spark further retracement of two-month rally of 76.00/84.17.
Res: 82.50, 83.00, 83.30, 83.38
Sup: 82.00, 81.96, 81.85, 81.50
USD/CHF
Bounce off today’s low at 0.9000 is seen corrective, as overall picture remain negative. However, some improvement is seen on hourly chart, with clearance of the first barriers at 0.9090/0.9100 needed to ease immediate bear-pressure and allow for further correction, otherwise, risk is seen of lower top, before bears take control. Break below 0.9000 to expose key short-term support at 0.8930, end of Feb double-bottom.
Res: 0.9091, 0.9100, 0.9135, 0.9177
Sup: 0.9043, 0.9025, 0.9015, 0.9000
EUR/USD
The near-term structure weakens again, as today’s attempt towards key barrier at 1.3380 zone, failed at 1.3366 and subsequent weakness pushed the price through trendline support at 1.3330, to test the top of strong support zone at 1.3300/1.3280 so far. This pushes hourly studies towards the negative territory, with similar situation on 4H chart, where indicators are pointing lower. Unless today’s high at 1.3366 is regained, near-term outlook remains in a neutral/negative mode, with risk of losing 1.3300/1.3280 handles for extension towards next significant support and near-term range floor at 1.3250, below which to possibly signal near-term top.
Res: 1.3324, 1.3354, 1.3366, 1.3384
Sup: 1.3300, 1.3277, 1.3265, 1.3250
GBP/USD
The pair comes under increased pressure after failing to regain 1.6061, yesterday’s fresh high. Reversal under 1.6000 support, also dented the next support zone at 1.5980/60, also Fib 38.2% of 1.5841/1.6061 upleg. With hourly studies losing momentum, near-term outlook remains aligned towards the downside, with break below 1.5930/25, 5 day EMA / Fib 61.8%, required to sideline short-term bulls. Larger picture, however, maintains bullish tone, as 200 day MA at 1.5850, underpins the price action, with initial target at 1.6100 still in focus.
Res: 1.5991, 1.6000, 1.6045, 1.6061
Sup: 1.5965, 1.5950, 1.5925, 1.5900
USD/JPY
The near-term recovery attempt off yesterday’s low at 81.54 holds around initial barrier at 82.20 for now, with regain of momentum seen on hourly chart that may spark further correction towards next significant barrier at 82.60. Negative tone on 4H and daily charts, however, sees no much potential for stronger recovery. While the key near-term resistances at 83.00/30 stay intact, risk exists for further correction and test of 81.05, Fib 38.2% of 79.00/84.17.
Res: 82.22, 82.50, 82.60, 83.00
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Near-term price action remains in a choppy range trade, during the past couple of days, as 0.9000 holds the downside and upside attempts stay capped at 0.9069. Hourly studies are neutral, but structure on 4H chart is more negative and sees the current consolidation preceding fresh weakness and attack at key support at 0.8930, as long as 0.9100 zone caps the upside. Negative tone dominates also on the daily chart, after the pair broke below bull trendline drawn off 0.8930.
Res: 0.9046, 0.9069, 0.9091, 0.9100
Sup: 0.9012, 0.9000, 0.8958, 0.8930
EUR/USD
EUR/USD extends fall from yesterday, as Fibonacci 61.8% level at 1.3147 and 1.3132, 22 Mar low are cleared, with round figure support at 1.3100 now in focus. Strong support before our key downside targets at 1.3000 and 1.2973, 15 Mar low, lies at 1.3050 zone, where is low of 16 Mar and daily Ichimoku cloud base. Negative near-term studies continue to drive the pair lower, with no signal of correction, despite overextended hourly conditions.
Res: 1.3132, 1.3180, 1.3191, 1.3250
Sup: 1.3100, 1.3050, 1.3000, 1.2973
GBP/USD
The pair continues to trend lower, as minor supports at 1.5859/41 are out, opening way for the next array of supports at 1.5831, 50% retracement of 1.5600/1.6061 ascend, 1.5800, 26 Mar low and 1.5770, 22 mar low / Fib 61.8%. Outlook on lower timeframes remains negative, with hourly studies in oversold zone, suggesting possible corrective action.
Res: 1.5859, 1.5900, 1.5916, 1.5965
Sup: 1.5831, 1.5800, 1.5770, 1.5743
USD/JPY
Failure to break above 83.00 handle, reached late yesterday, triggered correction lower, where 82.50 zone was seen as good support to complete hourly bullish flag, before resuming higher. However, today’s fresh weakness under 82.50 has fully retraced yesterday’s strong rally off 82.00 , where the pair is currently attempting to base, but weaker near-term structure reduces possibility of further significant gains. Initial and strong barrier at 83.00 needs to be cleared to confirm near-term bullish stance off 81.54, otherwise, the latter may come in focus again.
Res: 82.69, 83.00, 83.29, 83.38
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Strong rally off 0.9000 base regained important barrier at 0.9175, 22 Mar high / 50% of 0.9333/0.9000, with further extension higher and test of next hurdle at 0.9200, 15 mar low / Fib 61.8%, seen next. Near-term structure remains positive, however, overbought conditions on both, 1 and 4H charts warn of corrective pullback. Initial support lies at 0.9133, while strong support zone at 0.9100/0.9080 is expected to keep the downside protected, to prevent retest of 0.9000.
Res: 0.9181, 0.9200, 0.9252, 0.9300
Sup: 0.9133, 0.9100, 0.9080, 0.9075
EUR/USD
The pair undergoes mild correction after hitting fresh low just above 0.9100 supports, yesterday. Corrective rally was so far capped at 1.3150 zone by 20 day EMA. Hourly studies emerged from oversold zone, seeing potential for further recovery, however, situation on 4H chart shows more negative tone. To improve current structure, regain of minimum 1.3200 zone, where also Fib 31.8% of 1.3380/1.3106 descend lies. The recent fall weakened daily structure, as studies approach the midlines, suggesting that corrective action would be limited and fresh weakness seen as likely scenario. Break below 1.3100 low and main bull trendline, to open key short-term support zone at 1.3000/1.2973, lows of 15 Mar / 16 Feb.
Res: 1.3157, 1.3180, 1.3191, 1.3210
Sup: 1.3136, 1.3100, 1.3050, 1.3000
GBP/USD
Near-term corrective phase off yesterday’s low at 1.5832 holds at 1.5900, initial resistance zone, after regaining 200 day MA that was briefly broken. Improvement on hourly chart studies, keeps hopes for further recovery, with lift above 1.5920/30 zone, Fibonacci level and 20/55 day EMA’s required, but prospects remain limited as larger timeframes studies hold more negative tone. Loss of 200 day MA at 1.5850 and yesterday’s low at 1.5832 to expose next targets at 1.5800 and 1.5770.
Res: 1.5908, 1.5920, 1.5930, 1.5950
Sup: 1.5878, 1.5850, 1.5832, 1.5800
USD/JPY
Near-term price action remains entrenched within 82.00/83.00 range, with tone skewed towards the downside, as hourly studies broke below the midlines and 20 day EMA limiting the upside during Asian session. Risk is seen on los of strong near-term support at 82.00 that would weaken the tone further and re-attract recent low at 81.54, loss of which to signal further retracement of 76.00/84.17 rally and open Fibonacci level at 81.05. Only lift above 83.00 handle would avert immediate downside risk.
Res: 82.34, 82.67, 83.00, 83.29
Sup: 82.00, 81.82, 81.50, 81.05
USD/CHF
Corrects the near-term recovery rally off 0.9000 that peaked at 0.9181, strong resistance. Shallow reversal was so far contained by hourly 20 day EMA and just above Fib 23.6 of 0.9000/0.9181 upleg, with hourly studies still above the midlines, seeing potential of base. Indicators on 4H chart are more supportive, as holding positive tone and coming out of overbought territory. Firm break above 0.9180/0.9200, also Fib 61.8% of larger downmove from 0.9333 to 0.9000, is required to resume recovery and confirm bottom at 0.9000. Only break below 0.9100 would harm the near-term structure.
Res: 0.9181, 0.9200, 0.9252, 0.9300
Sup: 0.9142, 0.9135, 0.9113, 0.9100
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Linear Mode
