The Euro shows a basing attempt at 1.2660, two-month low, where daily 90 day MA contained dips. Double Doji formation suggests that pause in a larger downmove from 1.3138 is likely, as the price moves above 1.2700 barrier, where yesterday’s close occurred. Improving hourly conditions are supportive, however, as the price struggles to clear 4h 20 day EMA, break of which is seen as a trigger for stronger recovery, with strong barrier at 1.2790/2800 zone. On the other side, loss of 1.2700 handle would risk retest of 1.2660 and possible resumption of downtrend towards 1.2606, 50% of 1.2042/1.3170 rally.

Res: 1.2727, 1.2740, 1.2768, 1.2787
Sup: 1.2700, 1.2670, 1.2660, 1.2606


The pair remains in a sideways trading mode, holding above 1.5857, yesterday’s fresh low, where 200 day MA limited descend from 1.6174, 01 Nov peak. Upside failure to hold gains above 1.5900, sees the near-term price action entrenched within narrow range, with hourly studies in neutral mode. However, overextended 4h chart conditions, with indicators pointing higher, along with formation of morning star patter on a daily chart, could be a signal for stronger corrective action. Clearance of initial barrier at 1.5914/19, yesterday’s high / Fib 38.2% of 1.6018/1.5857, to spark stronger rally, as today’s above these levels is required to complete morning star pattern. Conversely, loss of 200 day MA, would further weaken near-term structure and open 1.5800, round figure and 1.5761, trendline support.

Res: 1.5892, 1.5900, 1.5914, 1.5919
Sup: 1.5865, 1.5857, 1.5848, 1.5800


Near-term bulls came fully in play, as the pair breaks above recent range top and 200 day MA at 79.60, rallying towards 80.00, initial target and breakpoint. Near-term studies turned positive, however, hesitation at 80.00 could be seen on overbought hourly studies. Clear break here to signal higher low at 79.06 and shift focus towards the upper barriers at 79.42/55 and key resistance at 80.67, 02 Nov peak. Previous barrier at 79.60, now acts as initial support, protecting 79.00, key near-term support.

Res: 80.00, 80.43, 80.55, 80.67
Sup: 79.80, 79.60, 79.34, 79.20


The pair losses traction, as repeated failure to clear 0.9500 barrier, resulted in fresh pullback. Dips so far reached 0.9450, near 23.6% of 0.9275/0.9511 rally, threatening test of more significant 0.9430, double-top and psychological / 200 day MA 0.9400 support. Hourly studies are negative, with 4h chart indicators in descending mode, suggesting that correction could extend lower. Main risk is seen on violation of 0.9400 handle that would sideline near-term bulls.

Res: 0.9473, 0.9500, 0.9511, 0.9524
Sup: 0.9450, 0.9427, 0.9400, 0.9380