EURUSD
The Euro consolidates above 1.1200 handle, after yesterday’s fresh acceleration surged through daily cloud top and met its next target at 1.1252, Fibonacci 176.4% expansion, peaking at 1.1264 and closing for the day above 1.1200 support. Technicals maintain strong bullish setup and focus next targets at 1.1298, daily 100SMA and 1.1330, Fibonacci 200% expansion, as the pair is poised for strong weekly positive close. Look for prolonged consolidation, as 4-hour studies are overbought. Extended dips through 1.1153, daily cloud top, now acting as support, on week-end’s profit taking, should be ideally contained at 1.1035, former pivotal barrier and Fibonacci 38.2% of 1.0664/1.1264, to prevent deeper pullback that would sideline near-term bulls.
Res: 1.1264; 1.1298; 1.1330; 1.1378
Sup: 1.1200; 1.1153; 1.1070; 1.1035
GBPUSD
Cable pulls back from fresh highs, where repeated rejection just under psychological 1.55 barrier, left hourly double-top. Fresh acceleration lower, left long red daily candle, signaling a pause in strong rally. Dips were so far contained at psychological 1.53 support, keeping intact more significant supports at 1.5250, Fibonacci 38.2% of 1.4854/1.5496 upleg and 1.5175, mid-point and daily 10/100SMA’s bull-cross. Overall bulls, however, remain intact and keep focus at near-term target at 1.5551, 26 Feb peak, as the pair is poised for the third consecutive weekly positive close, as well as monthly Bullish Engulfing that is forming reversal pattern.
Res: 1.5400; 1.5434; 1.5496; 1.5530
Sup: 1.5359; 1.5323; 1.5300; 1.5250
USDJPY
The pair bounced from strong 118.50 support zone, neutralizing immediate risk of attempts below key 118.31 support and short-term range floor. Yesterday’s positive close and spike to 119.88, signals further recovery, as today’s fresh attempts above pivotal daily 20SMA barrier at 119.46, are looking for retest of key near-term hurdle at 120.08, peak of 23 Apr / daily Ichimoku cloud top. Eventual close above here is required to confirm daily double-bottom at 118.50 and trigger acceleration towards range’s top at 120.83. Bullish near-term studies support the notion, however, tone of daily studies is still weak and failure at 120 resistance zone would signal prolonged range-trading. Today’s low at 119.30, is reinforced by daily 10SMA / Tenkan-sen and is expected to hold and prevent fresh slide towards range’s floor.
Res: 119.88; 120.08; 120.43; 120.83
Sup: 119.60; 119.30; 119.00; 118.80
AUDUSD
The pair trades in near-term corrective phase off fresh high at 0.8073, with reversal pattern being formed on daily chart. Yesterday’s acceleration lower, shaped in long red daily candle that penetrated through daily cloud top at 0.7960, bottomed at 0.7861, above which the pair trades in near-term narrow-range consolidation. South-heading 4-hour indicators signal further easing on completion of near-term consolidative phase, with violation of key supports at 0.7841/31, former peak of 17 Apr and Fibonacci 61.8% of 0.7681/0.8073 upleg, to confirm bears fully in play and risk deeper reversal. However, overall strong bullish tone, with the pair poised for positive weekly close and bullish-engulfing monthly pattern, suggest further upside, after competing corrective phase.
Res: 0.7918; 0.7978; 0.8020; 0.8073
Sup: 0.7861; 0.7841; 0.7800; 0.7773
The Euro consolidates above 1.1200 handle, after yesterday’s fresh acceleration surged through daily cloud top and met its next target at 1.1252, Fibonacci 176.4% expansion, peaking at 1.1264 and closing for the day above 1.1200 support. Technicals maintain strong bullish setup and focus next targets at 1.1298, daily 100SMA and 1.1330, Fibonacci 200% expansion, as the pair is poised for strong weekly positive close. Look for prolonged consolidation, as 4-hour studies are overbought. Extended dips through 1.1153, daily cloud top, now acting as support, on week-end’s profit taking, should be ideally contained at 1.1035, former pivotal barrier and Fibonacci 38.2% of 1.0664/1.1264, to prevent deeper pullback that would sideline near-term bulls.
Res: 1.1264; 1.1298; 1.1330; 1.1378
Sup: 1.1200; 1.1153; 1.1070; 1.1035
GBPUSD
Cable pulls back from fresh highs, where repeated rejection just under psychological 1.55 barrier, left hourly double-top. Fresh acceleration lower, left long red daily candle, signaling a pause in strong rally. Dips were so far contained at psychological 1.53 support, keeping intact more significant supports at 1.5250, Fibonacci 38.2% of 1.4854/1.5496 upleg and 1.5175, mid-point and daily 10/100SMA’s bull-cross. Overall bulls, however, remain intact and keep focus at near-term target at 1.5551, 26 Feb peak, as the pair is poised for the third consecutive weekly positive close, as well as monthly Bullish Engulfing that is forming reversal pattern.
Res: 1.5400; 1.5434; 1.5496; 1.5530
Sup: 1.5359; 1.5323; 1.5300; 1.5250
USDJPY
The pair bounced from strong 118.50 support zone, neutralizing immediate risk of attempts below key 118.31 support and short-term range floor. Yesterday’s positive close and spike to 119.88, signals further recovery, as today’s fresh attempts above pivotal daily 20SMA barrier at 119.46, are looking for retest of key near-term hurdle at 120.08, peak of 23 Apr / daily Ichimoku cloud top. Eventual close above here is required to confirm daily double-bottom at 118.50 and trigger acceleration towards range’s top at 120.83. Bullish near-term studies support the notion, however, tone of daily studies is still weak and failure at 120 resistance zone would signal prolonged range-trading. Today’s low at 119.30, is reinforced by daily 10SMA / Tenkan-sen and is expected to hold and prevent fresh slide towards range’s floor.
Res: 119.88; 120.08; 120.43; 120.83
Sup: 119.60; 119.30; 119.00; 118.80
AUDUSD
The pair trades in near-term corrective phase off fresh high at 0.8073, with reversal pattern being formed on daily chart. Yesterday’s acceleration lower, shaped in long red daily candle that penetrated through daily cloud top at 0.7960, bottomed at 0.7861, above which the pair trades in near-term narrow-range consolidation. South-heading 4-hour indicators signal further easing on completion of near-term consolidative phase, with violation of key supports at 0.7841/31, former peak of 17 Apr and Fibonacci 61.8% of 0.7681/0.8073 upleg, to confirm bears fully in play and risk deeper reversal. However, overall strong bullish tone, with the pair poised for positive weekly close and bullish-engulfing monthly pattern, suggest further upside, after competing corrective phase.
Res: 0.7918; 0.7978; 0.8020; 0.8073
Sup: 0.7861; 0.7841; 0.7800; 0.7773
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