EURUSD
The Euro remains supported in the near-term, as last Friday’s acceleration left higher base at 1.24 zone and cracked pivotal 1.2576 barrier. Sustained break here and 1.2590, bear-trendline off 1.2884, 5 Oct daily lower top, is required to confirm near-term bottom at 1.2357 and open way for further recovery. Positive daily and weekly closes, along with existing daily RSI/MACD bullish divergence support the notion. Daily Kijun-sen line and 50% retracement of 1.2884/1.2357 downleg at 1.2621, marks immediate resistance, ahead of 1.27 zone, daily cloud base and next pivotal barrier at 1.2763/69, 28/29 Oct lower tops. Corrective actions cracked 1.2500/1.2490 support zone, previous consolidation tops and near 50% of 1.2397/1.2576 upleg, signaling deeper pullback, which should be contained above 1.24 base.
Res: 1.2520; 1.2545; 1.2576; 1.2590
Sup: 1.2480; 1.2465; 1.2425; 1.2400
GBPUSD
Cable maintains negative tone after last week’s acceleration broke and closed below 1.5720, Fibonacci 61.8% retracement of larger 1.4812/1.7189 ascend. Fresh weakness probed levels below 1.56 handle, where temporary support was found. Subsequent bounce, signaled by Friday’s Hammer, suggests corrective action, ahead of fresh weakness, which targets 1.5385/75, 100% expansion of the third wave from 1.6522 / Fibonacci 76.4% of 1.4812/1.7189 ascend. Corrective rally was for now limited at 1.5734, keeping the next strong barrier at 1.58 zone, Fibonacci 61.8% of 1.5939/1.5591 / daily Tenkan-sen line, out of reach, for now.
Res: 1.5670; 1.5700; 1.5734; 1.5765
Sup: 1.5618; 1.5600; 1.5590; 1.5550
USDJPY
The pair corrects fresh strength which cracked psychological 117 barrier. Pullback was so far contained at 115.44, 50% of 113.84/117.03 upleg, with fresh attempts higher expected to follow, as bulls remain firmly in play on all timeframes. Sustained break above 117 barrier to open targets at 117.95, Oct 2007 peak and 120, psychological barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend. Near-term structure would weaken more significantly in case dips violate 115 zone, Fibonacci 61.8% / higher low of 12 Nov, which marks the last strong support on the way to pivotal 114 support zone.
Res: 116.00; 116.30; 116.81; 117.03
Sup: 115.44; 115.06; 114.88; 114.62
AUDUSD
The pair holds positive tone and hit levels close to psychological 0.88 barrier, after eventual break above pivotal 0.8760 lower platform. Last Friday’s positive close, with daily candle’s longer lower shadow, signaling fresh bulls, as weekly close also occurred in green. Sustained break above 0.88 barrier to resume bulls and look for the next strong barrier at pivotal 0.89 zone, lower platform. Corrective actions should find good support at 0.87 zone, Fibonacci 38.2% of 0.8539/0.8794 rally, with extended easing expected to be contained above 0.8646 higher low, to keep near-term up-trend from 0.8639 intact.
Res: 0.8794; 0.8822; 0.8850; 0.8880
Sup: 0.8744; 0.8700; 0.8670; 0.8650
The Euro remains supported in the near-term, as last Friday’s acceleration left higher base at 1.24 zone and cracked pivotal 1.2576 barrier. Sustained break here and 1.2590, bear-trendline off 1.2884, 5 Oct daily lower top, is required to confirm near-term bottom at 1.2357 and open way for further recovery. Positive daily and weekly closes, along with existing daily RSI/MACD bullish divergence support the notion. Daily Kijun-sen line and 50% retracement of 1.2884/1.2357 downleg at 1.2621, marks immediate resistance, ahead of 1.27 zone, daily cloud base and next pivotal barrier at 1.2763/69, 28/29 Oct lower tops. Corrective actions cracked 1.2500/1.2490 support zone, previous consolidation tops and near 50% of 1.2397/1.2576 upleg, signaling deeper pullback, which should be contained above 1.24 base.
Res: 1.2520; 1.2545; 1.2576; 1.2590
Sup: 1.2480; 1.2465; 1.2425; 1.2400
GBPUSD
Cable maintains negative tone after last week’s acceleration broke and closed below 1.5720, Fibonacci 61.8% retracement of larger 1.4812/1.7189 ascend. Fresh weakness probed levels below 1.56 handle, where temporary support was found. Subsequent bounce, signaled by Friday’s Hammer, suggests corrective action, ahead of fresh weakness, which targets 1.5385/75, 100% expansion of the third wave from 1.6522 / Fibonacci 76.4% of 1.4812/1.7189 ascend. Corrective rally was for now limited at 1.5734, keeping the next strong barrier at 1.58 zone, Fibonacci 61.8% of 1.5939/1.5591 / daily Tenkan-sen line, out of reach, for now.
Res: 1.5670; 1.5700; 1.5734; 1.5765
Sup: 1.5618; 1.5600; 1.5590; 1.5550
USDJPY
The pair corrects fresh strength which cracked psychological 117 barrier. Pullback was so far contained at 115.44, 50% of 113.84/117.03 upleg, with fresh attempts higher expected to follow, as bulls remain firmly in play on all timeframes. Sustained break above 117 barrier to open targets at 117.95, Oct 2007 peak and 120, psychological barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend. Near-term structure would weaken more significantly in case dips violate 115 zone, Fibonacci 61.8% / higher low of 12 Nov, which marks the last strong support on the way to pivotal 114 support zone.
Res: 116.00; 116.30; 116.81; 117.03
Sup: 115.44; 115.06; 114.88; 114.62
AUDUSD
The pair holds positive tone and hit levels close to psychological 0.88 barrier, after eventual break above pivotal 0.8760 lower platform. Last Friday’s positive close, with daily candle’s longer lower shadow, signaling fresh bulls, as weekly close also occurred in green. Sustained break above 0.88 barrier to resume bulls and look for the next strong barrier at pivotal 0.89 zone, lower platform. Corrective actions should find good support at 0.87 zone, Fibonacci 38.2% of 0.8539/0.8794 rally, with extended easing expected to be contained above 0.8646 higher low, to keep near-term up-trend from 0.8639 intact.
Res: 0.8794; 0.8822; 0.8850; 0.8880
Sup: 0.8744; 0.8700; 0.8670; 0.8650
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