00/30 Zone For Now

EUR/USD Continues near-term consolidation off 1.2681, yesterday’s low, with 1.2750 zone, Fib 23.6% of 1.2980/1.2681 downleg, capping for now. Near-term price action found footstep at 1.2700 zone and improving hourly studies, seeing potential for further corrective action, with break above yesterday’s high at 1.2757, required to resume higher and expose 1.2800 zone, Fib 38.2% and 15 May lows, next. Larger timeframes outlook, however, remains negative, but oversold daily conditions may be supportive for stronger correction, before test of yearly low at 1.2622. Res: 1.2757, 1.2790, 1.2800, 1.2815 Sup: 1.2700, 1.2681, 1.2622, 1.2600 GBP/USD Brief corrective/consolidative action that followed past three-day’s slide from 1.6100 zone, showed not much of recovery, as gains above 1.5900 ...

EUR/USD The pair extends the last week’s weakness off 1.3282 high, with break below initial support at 1.3100, seen last Friday and overnight’s gap lower opening. Test of lower boundary of very strong support zone at 1.3000/1.2950, Mar/Apr lows / Fib 61.8% of 1.2622/1.3485 ascend, weakens the larger picture’s structure, with clear break below 1.2950, expected to accelerate losses towards 1.2900, figure support and 1.2875, 09 Jan 2011 / 23 Jan 2012 lows. Overextended short-term studies see potential for bounce higher, with initial barriers at 1.3030 and 1.3080, with 1.3155, 55 day EMA and double-top at 1.3180, capping the upside. Res: 1.3030, 1.3080, 1.3100, 1.3155 Sup: 1.2952, 1.2930, 1.2900, 1.2875 GBP/USD Cable dipped to 1.6115, Fib 38.2% of 1.5817/1.6300 upleg, after losing last ...

EUR/USD The near-term structure weakens again, as today’s attempt towards key barrier at 1.3380 zone, failed at 1.3366 and subsequent weakness pushed the price through trendline support at 1.3330, to test the top of strong support zone at 1.3300/1.3280 so far. This pushes hourly studies towards the negative territory, with similar situation on 4H chart, where indicators are pointing lower. Unless today’s high at 1.3366 is regained, near-term outlook remains in a neutral/negative mode, with risk of losing 1.3300/1.3280 handles for extension towards next significant support and near-term range floor at 1.3250, below which to possibly signal near-term top. Res: 1.3324, 1.3354, 1.3366, 1.3384 Sup: 1.3300, 1.3277, 1.3265, 1.3250 GBP/USD The pair comes under increased pressure after ...

Fundamental Analysis EUR Greek unemployment rate hit a new record in Q4, approaching 20.7%. The figure indicates that country economy experiences crisis while tight austerity measures are likely to push the county into even deeper recession. The jobless rate is expected to rise further in the following months, said Platon Monokroussos, EFG Eurobank economist. Young individuals were the most severally affected by the slowdown. Almost 40% of people aged between 15 and 24 are without job as compared to 28% in Q4 of 2010. USD February CPI remained in laine with the 0.4% forecast after a 0.2% in January. Manufacuting sales lost 0.9% in January despite a positive 0.4% forecast and a significant 0.6% growth in December. GBP British FTSE 100 index climbed on Friday supported by bank stocks. ...

EUR/USD The pair comes under increased pressure after yesterday’s failure to clear initial resistance at 1.3280, resulted in fresh weakness. Loss of day low at 1.5757 filled the gap, extending losses through last Friday’s low at 1.3153, also main bull trendline off 1.2622, 13 Jan low, after downgrade of a number of European countries was announced. Break below daily 20 day SMA, currently at 1.3117 to open way towards next targets at 1.3100/1.3090 zone, with key near-term support at 1.3025, to come in focus. Corrective action on oversold hourly conditions, faces strong resistance at 1.3200/30 zone that is expected to limit the upside for now. Res: 1.3163, 1.3200, 1.3220, 1.3230 Sup: 1.3126, 1.3100, 1.3090, 1.3025 GBP/USD Yesterday’s failure to clear 1.5800 congestion, also bear ...

EUR/USD Break above 1.3232, previous high / Fib 38.2% of 1.4246/1.2622, ended near-term corrective phase that found ground at 1.3025, where fresh strength emerged and triggered fresh extension of short-term uptrend from 1.2622, 13 Jan low. Immediate upside target at 1.3300 comes under pressure, with more significant levels at 1.3320, 90 day SMA and 1.3400/30, figure resistance / Fib 50%, coming in focus. Short-term studies remain positive, however, overbought conditions warn of correction. Previous high at 1.3232 offers immediate support, ahead of 1.3200 zone and dynamic 20 day SMA at 1.3150, where dips should be contained. Key short-term support lies at 1.3025 higher platform. Res: 1.3285, 1.3300, 1.3320, 1.3460 Sup: 1.3240, 1.3232, 1.3216, 1.3200 GBP/USD The pair cleared near-term ...

EUR/USD The near-term price action shows the pair in corrective pullback after extending two-week uptrend. Regain of significant barriers at 1.3145 and 1.3200, where daily Ichimoku cloud was briefly penetrated, sees scope for further extension higher. The pair so far reached 1.3232, exactly 38.2% retracement of 1.4246/1.2622 descend, looking for test of 1.3300, possibly 1.3429/58, Fib 50% / 08 Dec high, on a break. Dips have so far found footstep at 1.3135, ahead of figure support at 1.3100 and 1.3080, 27 Jan higher platform / Fib 50% of 1.2930/1.3232 ascend that should keep the downside protected for now. Res: 1.3196, 1.3232, 1.3250, 1.3300 Sup: 1.3100, 1.3080, 1.3061, 1.3045 GBP/USD Reverses lower after renewed attempt above 1.5700 barrier failed to sustain gains. Pullback of ...

EUR/USD Accelerated losses through key short-term support at 1.3655, with additional pressure coming from more disappointing news regarding Greece coming from Eurozone. Fresh daily low was hit just above 1.3600 handle, below which to open 1.3565, 11 Oct low / Fib 61.8% of 1.3145/1.4246 upleg. Near-term studies are firmly in the negative territory, suggesting further weakness, however, extremely oversold hourly / 4-hour conditions see scope for corrective bounce. Strong resistance at 1.3800/30 zone is expected to cap for now. Res: 1.3700, 1.3730, 1.3800, 1.3830 Sup: 1.3607, 1.3565, 1.3523, 1.3500 GBP/USD Sharp decline from yesterday’s fresh high at 1.6164, has so far been contained at 1.5890, 26 Oct low. Bounce higher is seen corrective, as near-term studies still point lower, with ...

EUR/USD Remains under pressure after suffering heavy losses that fully erased the latest upleg from 1.3800 to 1.4246. Initial optimism about steps agreed on EU summit to tackle Eurozone debt problem is now fading. Loss of initial support at 1.3800 is looking for further weakness towards 1.3700 and key short-term support at 1.3655, higher platform. Hourly and 4-hour studies are below midlines, with RSI deeply in oversold territory. Break below daily Ichimoku cloud confirms near-term bearish structure. Initial resistances lie at 1.3800/30, with hourly 20 day SMA at 1.3875, maintaining bears. Res: 1.3800, 1.3830, 1.3870, 1.3900 Sup: 1.3740, 1.3700, 1.3655, 1.3565 GBP/USD Weakens the near-term structure after yesterday’s strong rally posted marginally fresh high at 1.6164. Failure to ...