EURUSD
The Euro consolidates under fresh recovery highs at 1.1318/31, posted yesterday. Consolidation is entrenched within 100-pips range and expected to precede fresh attempts higher. Yesterday’s long bullish daily candle and close above 200SMA, gives initial bullish signal, along with daily slow Stochastic that reverses from oversold territory and overall positive tone, prevailing on all timeframes. Session low at 1.1259 marks initial support, ahead of consolidation floor at 1.1232, which is required to hold and keep focus at the upside. Fresh rallies to look for next target at 1.1367, Fibonacci 38.2% of 1.1712/1.1154 / 4-hour cloud base, trigger for stronger recovery. Ascending daily 20SMA continues to underpin, currently at 1.1192 and protecting strong supports at 1.1154/36, 28 Aug low / daily Ichimoku cloud top.
Res: 1.1331; 1.1367; 1.1383; 1.1436
Sup: 1.1259; 1.1232; 1.1192; 1.1154
GBPUSD
Cable closed below pivotal 1.5327 support, former low of 08 July and cracked psychological 1.53 support, confirming strong bearish tone and resumption of downleg from 1.5816, 25 Aug high. Repeated close in red, with long upper shadow of yesterday’s daily candle, confirms strong selling pressure, for extension towards next target at 1.5246, 50% retracement of larger 1.4563/1.5928 rally. Firm bearish setup of daily technicals, supports the notion. Corrective attempts to face initial barrier at 1.5366, 200SMA, ahead of 28/31 Aug peaks at 1.5435/41, which should ideally cap rallies.
Res: 1.5366; 1.5400; 1.5441; 1.5487
Sup: 1.5287; 1.5246; 1.5200; 1.5168
USDJPY
The pair holds negative near-term tone, following yesterday’s acceleration that left long red daily candle and dipped to 119.18, near 50% of 116.13/121.64 rally. Temporary support was found here, however, upside attempts are so far limited at 50% of 121.64/119.18 pullback. Near-term consolidation hovers around 120 handle, with weak near-term technicals, seeing risk of fresh push lower. The notion is supported by negative daily studies and bearish setup of daily MA’s that formed 10/200SMA’s death-cross at 120.74, to maintain downside pressure. Pullback’s low at 119.18, marks initial support, ahead of 118.89, 50% retracement and 26 Aug higher low at 118.44, loss of which to confirm an end of corrective phase from 116.13. Conversely, daily close above 200SMA, would be seen as initial bullish signal and would sideline immediate bearish threats.
Res: 120.45; 120.75; 121.25; 121.64
Sup: 119.90; 119.52; 119.18; 118.89
AUDUSD
The pair ended near-term consolidative phase and accelerated lower, to finally crack short-term target at psychological 0.7000 level. Yesterday’s long bearish daily candle and close below former low at 0.7036, was initial bearish signal, with overnight’s probe below 0.7000 handle, confirming scenario. Firm bearish tone prevails on all timeframes and favors further downside. However, hesitation ant strong 0.7000 support, cannot be ruled out with oversold daily studies, suggesting consolidation, before bears resume. Initial barrier lies at yesterday’s high at 0.7151, which is reinforced by falling daily 10SMA and guarding the first breakpoint at 0.7204, 28 Aug high and former consolidation top.
Res: 0.7080; 0.7151; 0.7204; 0.7248
Sup: 0.7000; 0.6980; 0.6933; 0.6870
The Euro consolidates under fresh recovery highs at 1.1318/31, posted yesterday. Consolidation is entrenched within 100-pips range and expected to precede fresh attempts higher. Yesterday’s long bullish daily candle and close above 200SMA, gives initial bullish signal, along with daily slow Stochastic that reverses from oversold territory and overall positive tone, prevailing on all timeframes. Session low at 1.1259 marks initial support, ahead of consolidation floor at 1.1232, which is required to hold and keep focus at the upside. Fresh rallies to look for next target at 1.1367, Fibonacci 38.2% of 1.1712/1.1154 / 4-hour cloud base, trigger for stronger recovery. Ascending daily 20SMA continues to underpin, currently at 1.1192 and protecting strong supports at 1.1154/36, 28 Aug low / daily Ichimoku cloud top.
Res: 1.1331; 1.1367; 1.1383; 1.1436
Sup: 1.1259; 1.1232; 1.1192; 1.1154
GBPUSD
Cable closed below pivotal 1.5327 support, former low of 08 July and cracked psychological 1.53 support, confirming strong bearish tone and resumption of downleg from 1.5816, 25 Aug high. Repeated close in red, with long upper shadow of yesterday’s daily candle, confirms strong selling pressure, for extension towards next target at 1.5246, 50% retracement of larger 1.4563/1.5928 rally. Firm bearish setup of daily technicals, supports the notion. Corrective attempts to face initial barrier at 1.5366, 200SMA, ahead of 28/31 Aug peaks at 1.5435/41, which should ideally cap rallies.
Res: 1.5366; 1.5400; 1.5441; 1.5487
Sup: 1.5287; 1.5246; 1.5200; 1.5168
USDJPY
The pair holds negative near-term tone, following yesterday’s acceleration that left long red daily candle and dipped to 119.18, near 50% of 116.13/121.64 rally. Temporary support was found here, however, upside attempts are so far limited at 50% of 121.64/119.18 pullback. Near-term consolidation hovers around 120 handle, with weak near-term technicals, seeing risk of fresh push lower. The notion is supported by negative daily studies and bearish setup of daily MA’s that formed 10/200SMA’s death-cross at 120.74, to maintain downside pressure. Pullback’s low at 119.18, marks initial support, ahead of 118.89, 50% retracement and 26 Aug higher low at 118.44, loss of which to confirm an end of corrective phase from 116.13. Conversely, daily close above 200SMA, would be seen as initial bullish signal and would sideline immediate bearish threats.
Res: 120.45; 120.75; 121.25; 121.64
Sup: 119.90; 119.52; 119.18; 118.89
AUDUSD
The pair ended near-term consolidative phase and accelerated lower, to finally crack short-term target at psychological 0.7000 level. Yesterday’s long bearish daily candle and close below former low at 0.7036, was initial bearish signal, with overnight’s probe below 0.7000 handle, confirming scenario. Firm bearish tone prevails on all timeframes and favors further downside. However, hesitation ant strong 0.7000 support, cannot be ruled out with oversold daily studies, suggesting consolidation, before bears resume. Initial barrier lies at yesterday’s high at 0.7151, which is reinforced by falling daily 10SMA and guarding the first breakpoint at 0.7204, 28 Aug high and former consolidation top.
Res: 0.7080; 0.7151; 0.7204; 0.7248
Sup: 0.7000; 0.6980; 0.6933; 0.6870
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