| R3 | 1.0702 |
| R2 | 1.0669 |
| R1 | 1.0632 |
| Pivot | 1.0599 |
| S1 | 1.0562 |
| S2 | 1.0530 |
| S3 | 1.0492 |
EURUSD (1.05): EURUSD has been trending below 1.0697 level of support for the past six days and the price action from the candlesticks indicate that the bearish momentum is stalling based on the small bodied candlesticks being formed. A retest to 1.0697 is very likely in the near term, which if holds could see EURUSD resume a new bearish leg to the downside to the lower support at 1.0488. On the 4-hour charts, with the Stochastics trading close to the 20 level and price action trading close to the new minor falling price channel, 1.07 remains a very likely price point that could be retested to establish resistance. On the 4-hour chart, there is a potential double bottom formed at 1.0578 region following the top near 1.05985. A breakout above this level could see EURUSD attempt to rally towards 1.07.
| R3 | 123.608 |
| R2 | 123.245 |
| R1 | 123.033 |
| Pivot | 122.663 |
| S1 | 122.452 |
| S2 | 122.089 |
| S3 | 121.877 |
USDJPY (122.7): USDJPY's consolidating near the breakout level of the bullish flag pattern is indicative of a potential new bullish leg being resumed in prices. 122.5 region of support therefore remains of importance. Price action is trading within 122.845 resistance and 122.3 support and this ranging price action on the 4-hour chart could point to a strong breakout in either direction in the near term. An upside breakout could see USDJPY test 123.44 previous highs, while a break below 122.3 could see a break to 121.92 - 121.7 level of support in the near term. With the Stochastics being in oversold levels, we move to the downside looks like a possibility but considering that USDJPY broke out from the falling price channel, a retest to 122.3 will likely keep prices supported to the upside.
| R3 | 1.5166 |
| R2 | 1.5138 |
| R1 | 1.5087 |
| Pivot | 1.5059 |
| S1 | 1.5008 |
| S2 | 1.4979 |
| S3 | 1.4929 |
GBPUSD (1.50): GBPUSD closed Friday's session on a strongly bearish note. On the 4-hour chart, prices are trading near 1.50375 level of support marking a retest to the previous lows of the rising price channel. The Stochastics is currently moving away from the oversold levels so a short term correction in prices is likely. The untested broken support at 1.52395 remains a possibility for a retest to establish resistance to this level. Plotting the new falling price channel, watching for a break out from this level will be key that could signal a corrective move to the upside.
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