EURUSD
The Euro continues to move in directionless mode and returns below 1.16 handle, following yesterday’s probe above, which was capped under initial barrier at 1.1650, 16 Jan recovery high and 50% retracement of 1.1845/1.1458 downleg, reinforced by falling daily Tenkan-sen line. Bearish setup of larger timeframes studies keeps the pair pressured, while neutral/negative near-term studies see scope for prolonged consolidative phase, awaiting this week’s important releases, which could be a trigger for resumption of larger downtrend. Targets at 1.1375, Nov 2003 low and 1.1210, Fibonacci 61.8% retracement of larger 0.8225/1.6039, 2000/2008 ascend, remain in near-term focus. Break above 1.1650 pivot and violation of daily 10SMA at 1.1722, would delay bears and open breakpoints at 1.1870; lower top of 12 Jan and daily 20SMA at 1.1910, in alternative scenario.
Res: 1.1637; 1.1650, 1.1700; 1.1722
Sup: 1.1550; 1.1500; 1.1458; 1.1400
GBPUSD
Near-term price action came under pressure and moved lower, shifting focus to the low of 08 Jan at 1.5032, following recovery attempt rejection at 1.5267, as corrective rally failed to sustain break above 1.5256, Fibonacci 38.2% of 1.5618/1.5032 downleg. Return and close below daily 10SMA confirms bearish stance of near-term studies, as overall picture remains negative and keeps focus at psychological 1.50 support and key target at 1.4820 higher base and lows of 2013. To revive near-term bulls, fresh strength and close above 1.5317, 05 Jan lower top, is required.
Res: 1.5135; 1.5177; 1.5232; 1.5267
Sup: 1.5055; 1.5032; 1.5000; 1.4910
USDJPY
The pair resumes recovery rally from 115.83 higher low, after yesterday’s Doji, with extension above psychological 118 barrier, looking for test of daily Ichimoku cloud top at 118.73 and daily 20SMA at 119, close above which to confirm higher low and open way for further recovery. Daily studies are gaining traction, with bullish near-term technicals, seeing scope for fresh rallies. Initial supports lay at 118.00 and 117.75, former high of 16 Jan, with higher low at 116.50, also Fibonacci 38.2% of the rally from 115.83 to 118.51, expected to ideally contain.
Res: 118.73; 119.00; 119.57; 119.95
Sup: 118.00; 117.75; 117.50; 116.90
AUDUSD
The pair is in near-term directionless mode, signaled by double-Doji, following recovery rejection at 0.8293 and subsequent easing, which was so far contained at mid-point of entire recovery rally from 0.8031 to 0.8293, reinforced by daily 20SMA. Mixed near-term studies suggest further sideways movements, with break of initial boundaries, required to establish fresh direction. North-heading daily indicators are expected to support price action, while daily 20SMA holds.
Res: 0.8225; 0.8253; 0.8293; 0.8322
Sup: 0.8158; 0.8131; 0.8066; 0.8000
The Euro continues to move in directionless mode and returns below 1.16 handle, following yesterday’s probe above, which was capped under initial barrier at 1.1650, 16 Jan recovery high and 50% retracement of 1.1845/1.1458 downleg, reinforced by falling daily Tenkan-sen line. Bearish setup of larger timeframes studies keeps the pair pressured, while neutral/negative near-term studies see scope for prolonged consolidative phase, awaiting this week’s important releases, which could be a trigger for resumption of larger downtrend. Targets at 1.1375, Nov 2003 low and 1.1210, Fibonacci 61.8% retracement of larger 0.8225/1.6039, 2000/2008 ascend, remain in near-term focus. Break above 1.1650 pivot and violation of daily 10SMA at 1.1722, would delay bears and open breakpoints at 1.1870; lower top of 12 Jan and daily 20SMA at 1.1910, in alternative scenario.
Res: 1.1637; 1.1650, 1.1700; 1.1722
Sup: 1.1550; 1.1500; 1.1458; 1.1400
GBPUSD
Near-term price action came under pressure and moved lower, shifting focus to the low of 08 Jan at 1.5032, following recovery attempt rejection at 1.5267, as corrective rally failed to sustain break above 1.5256, Fibonacci 38.2% of 1.5618/1.5032 downleg. Return and close below daily 10SMA confirms bearish stance of near-term studies, as overall picture remains negative and keeps focus at psychological 1.50 support and key target at 1.4820 higher base and lows of 2013. To revive near-term bulls, fresh strength and close above 1.5317, 05 Jan lower top, is required.
Res: 1.5135; 1.5177; 1.5232; 1.5267
Sup: 1.5055; 1.5032; 1.5000; 1.4910
USDJPY
The pair resumes recovery rally from 115.83 higher low, after yesterday’s Doji, with extension above psychological 118 barrier, looking for test of daily Ichimoku cloud top at 118.73 and daily 20SMA at 119, close above which to confirm higher low and open way for further recovery. Daily studies are gaining traction, with bullish near-term technicals, seeing scope for fresh rallies. Initial supports lay at 118.00 and 117.75, former high of 16 Jan, with higher low at 116.50, also Fibonacci 38.2% of the rally from 115.83 to 118.51, expected to ideally contain.
Res: 118.73; 119.00; 119.57; 119.95
Sup: 118.00; 117.75; 117.50; 116.90
AUDUSD
The pair is in near-term directionless mode, signaled by double-Doji, following recovery rejection at 0.8293 and subsequent easing, which was so far contained at mid-point of entire recovery rally from 0.8031 to 0.8293, reinforced by daily 20SMA. Mixed near-term studies suggest further sideways movements, with break of initial boundaries, required to establish fresh direction. North-heading daily indicators are expected to support price action, while daily 20SMA holds.
Res: 0.8225; 0.8253; 0.8293; 0.8322
Sup: 0.8158; 0.8131; 0.8066; 0.8000
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