The Euro starts the week in a positive mode, recovering a part of losses of a pullback from 1.3138 that found ground at 1.3012. Weekly closure above psychological 1.3000 support keeps overall positive tone. Hourly MACD is approaching the midline, with strong bullish momentum evident, but 4h chart studies are losing traction, as price struggles to clear 20 day EMA at 1.3050. Unless minimum 1.3075, 50% of 1.3138/1.3012 is regained, downside would remain vulnerable, with near-term risk seen on a break below 1.3000, also 55 day EMA that would signal further easing and possibly expose 1.2900 zone. Conversely, strength above 1.3075/1.3100, to open initial 1.3138 barrier, ahead of key one at 1.3170, also near-term range top.

Res: 1.3076, 1.3100, 1.3138, 1.3170
Sup: 1.3010, 1.3000, 1.2990, 1.2970


Near-term structure remains negative, as the pair suffered heavy losses last week, following upside rejection at 1.6178, trendline resistance, with subsequent sharp fall nearly fully retracing 1.5974/1.6178 recovery rally at 1.5989, overnight’s low. Bounce higher is so far seen corrective, as hourly and 4h studies remain in the negative territory. Extension above 1.6060, last Friday’s highs / Fib 38.2% of 1.6178//1.5989, would provide temporary relief, however, break above 1.6150, trendline resistance and 1.6178, previous top, is required to confirm double-bottom and allow for stronger recovery of broader 1.6308/1.5275 downtrend. Continuation of the downtrend is seen on a break below 1.5974 that will expose another significant support at 1.5900 zone.

Res: 1.6040, 1.6060, 1.6066, 1.6083
Sup: 1.5989, 1.5975, 1.5958, 1.5910


The week starts with fresh strength, as the price closed above 79.00 support, with rally through 200 day MA / previous high at 79.40/45, now heading towards 80.00, psychological barrier, as interim resistance at 79.65 is penetrated. Positive tone dominates on both, 1 and 4h charts, however, hourly RSI already in overbought zone and overextended 4h chart indicators, suggest that corrective pullback may precede fresh rally, with no clear reversal signal generated yet.

Res: 79.94, 80.00, 80.09, 80.61
Sup: 79.45, 79.40, 79.21, 79.21


Hourly studies weakened, as the price slides lower, following reversal from 0.9288, peak of recovery rally from 0.9214, 17/18 Oct lows. More negative structure is seen on 4h chart studies, with 55 day EMA capping and price sliding bellow 20 day EMA that increases risk of re-visiting 0.9214 support, loss of which to signal a resumption of broader downtrend from 0.9970, as formation of double-top at 0.9400 zone signal further downside extension.

Res: 0.9288, 0.9292, 0.9310, 0.9350
Sup: 0.9254, 0.9240, 0.9214, 0.9200