The Euro consolidates recent gains that peaked at 1.3772, with acceleration lower cracking strong 1.3690 support, higher platform and bull-trendline off 1.3482, reinforced by 4-hour 55SMA. Fresh slide weakened hourly structure, however, larger picture bulls will remain in play, while pivotal 1.3690 support holds. Break lower to trigger stronger correction and mark near-term top at 1.3772 that would keep upside targets at 1.3800/30 on hold. Otherwise, fresh attempt higher would remain in near-term agenda.
Res: 1.3723; 1.3761; 1.3772; 1.3800
Sup: 1.3690; 1.3666; 1.3642; 1.3613
Cable’s corrective pullback off fresh high at 1.6821, posted on 17 Feb, attempts to stabilize above important 1.6600, where Fibonacci 38.2% retracement of 1.6250/1.6821 upleg, reinforced by 4-hour 55SMA / daily Tenkan-sen line, offer solid support. However, caution is required, as hourly indicators are in the negative territory and downside risk expected to remain in play while near-term consolidation range tops at 1.6740 cap. Clear break here to bring bulls back in play and signal base formation. Conversely, deeper correction could be expected on a break below 1.66 handle, loss of which to open 1.6536, 50% retracement of 1.6250/1.6821 and psychological 1.6500 support in extension.
Res: 1.6694; 1.6740; 1.6800; 1.6821
Sup: 1.6635; 1.6600; 1.6536; 1.6500
The pair remains at the back foot, as upside rejection at 102.73 triggered fresh weakness below important 102 support. Corrective rally left lower top at 102.45, confirming reversal, as the price slide below previous low at 101.84, aiming towards trendline support at 101.62, en-route towards key near-term level at 101.37, 17 Feb low, reinforced by 100SMA. Negative hourly studies and 4-hour chart indicators sliding below the midlines, support the notion. Break below 101.37 to complete near-term corrective phase, confirm double-top formation and signal resumption of broader downtrend from 105.43, 02 Jan peak, towards 100.16, 200SMA and psychological 100 support, also Fibonacci 61.8% retracement of 96.55/105.43 rally. To avert immediate downside risk, regain of strong 102.69/73 peaks is required.
Res: 102.00; 102.45; 102.73; 102.92
Sup: 101.62; 101.37; 101.00; 100.42
The pair came under pressure as consolidative action off 0.9079 peak broke under trendline support at 0.9000 and fresh easing nearly fully retraced 0.8926/0.9079 upleg on a dip to 0.8935 so far. Negative tone is re-established on a lower timeframes studies that keeps the downside at risk. Break below initial 0.8900 zone support, higher platform and Fibonacci 38.2% of 0.8658/0.9079 ascend, would be seen as a trigger for stronger pullback, with 0.8870, 50% retracement and 0.8820, Fibonacci 61.8%, seen as next targets. Otherwise, extended consolidation above 0.8900 handle, would be likely near-term scenario. Overall picture remain bullish for now and keeps upside attempts in the near-term favored.
Res: 0.8978; 0.9011; 0.9043; 0.9079
Sup: 0.8935; 0.8926; 0.8900; 0.8870