EUR/USD
The Euro holds near-term positive tone, as recovery from 1.3255, retraces over 76.4% of corrective 1.3400/1.3255 pullback. Despite gains being interrupted by 1.3376/1.3332 pullback, where 10 day EMA contained dips, hourly structure remains positive and keeps focus at near-term key barrier at 1.3400. However, lack of bullish momentum on 4h chart requires caution, as failure to extend to 1.3400, would risk further hesitation and return to initial 1.3332 support and more significant 1.3300 level.
Res: 1.3376, 1.3386, 1.3401, 1.3485
Sup: 1.3332, 1.3316, 1.3300, 1.3284
GBP/USD
The pair breaks again below strong 1.6000 support, also daily Ichimoku cloud base and yesterday’s fresh low at 1.5974, after recovery attempt was capped by initial resistance at 1.6030 zone. This confirms negative near-term structure, as fresh weakness next target at 1.5960, Fib 76.4% of 1.5826/1.6380 rally and increases risk of test of psychological / 200 day MA support at 1.5900. On the upside, day’s high at 1.6038, also Fib 38.2%, offers good barrier and only clear break here would delay immediate bears.
Res: 1.5985, 1.6000, 1.6016, 1.6038
Sup:1.5954, 1.5900, 1.5882, 1.5826
USD/JPY
Recovery rally from 87.78, yesterday’s low, nearly fully retraced corrective 89.66/87.78 descend, as gains extended to 89.55 so far. Near-term price action hesitates ahead of previous high, as hourly studies reach overbought zone, however, improved 4h chart situation, see the upside favored for now. Any dips should be ideally contained above 89.00 zone and 20 day EMA, to keeps bullish bias intact.
Res: 89.55, 89.68, 90.00, 90.39
Sup: 89.21, 89.00, 88.66, 88.40
USD/CHF
The pair remains congested within 0.9300/50 range, following repeated failure to sustain break above 0.9345, Fib 61.8% of 0.9511/0.9109 descend. Rather neutral tone is seen on hourly chart, while 4h structure remains bullish, however, approaching overbought zone requires caution. Clearance of 0.9355 to open next targets at 0.9381/0.9400, possibly 0.9430, 200 day MA, while slide below near-term range floor and 55 day EMA at 0.9290 zone, would be an initial signal for stronger corrective action of 0.9109/0.9353 rally and would expose 0.9260, Fibonacci 38.2% retracement level.
Res: 0.9353, 0.9381, 0.9400, 0.9430
Sup: 0.9317, 0.9300, 0.9284, 0.9260
The Euro holds near-term positive tone, as recovery from 1.3255, retraces over 76.4% of corrective 1.3400/1.3255 pullback. Despite gains being interrupted by 1.3376/1.3332 pullback, where 10 day EMA contained dips, hourly structure remains positive and keeps focus at near-term key barrier at 1.3400. However, lack of bullish momentum on 4h chart requires caution, as failure to extend to 1.3400, would risk further hesitation and return to initial 1.3332 support and more significant 1.3300 level.
Res: 1.3376, 1.3386, 1.3401, 1.3485
Sup: 1.3332, 1.3316, 1.3300, 1.3284
GBP/USD
The pair breaks again below strong 1.6000 support, also daily Ichimoku cloud base and yesterday’s fresh low at 1.5974, after recovery attempt was capped by initial resistance at 1.6030 zone. This confirms negative near-term structure, as fresh weakness next target at 1.5960, Fib 76.4% of 1.5826/1.6380 rally and increases risk of test of psychological / 200 day MA support at 1.5900. On the upside, day’s high at 1.6038, also Fib 38.2%, offers good barrier and only clear break here would delay immediate bears.
Res: 1.5985, 1.6000, 1.6016, 1.6038
Sup:1.5954, 1.5900, 1.5882, 1.5826
USD/JPY
Recovery rally from 87.78, yesterday’s low, nearly fully retraced corrective 89.66/87.78 descend, as gains extended to 89.55 so far. Near-term price action hesitates ahead of previous high, as hourly studies reach overbought zone, however, improved 4h chart situation, see the upside favored for now. Any dips should be ideally contained above 89.00 zone and 20 day EMA, to keeps bullish bias intact.
Res: 89.55, 89.68, 90.00, 90.39
Sup: 89.21, 89.00, 88.66, 88.40
USD/CHF
The pair remains congested within 0.9300/50 range, following repeated failure to sustain break above 0.9345, Fib 61.8% of 0.9511/0.9109 descend. Rather neutral tone is seen on hourly chart, while 4h structure remains bullish, however, approaching overbought zone requires caution. Clearance of 0.9355 to open next targets at 0.9381/0.9400, possibly 0.9430, 200 day MA, while slide below near-term range floor and 55 day EMA at 0.9290 zone, would be an initial signal for stronger corrective action of 0.9109/0.9353 rally and would expose 0.9260, Fibonacci 38.2% retracement level.
Res: 0.9353, 0.9381, 0.9400, 0.9430
Sup: 0.9317, 0.9300, 0.9284, 0.9260
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