Cable’s intra-day selloff after meeting renewed selling interests around the Ichimoku cloud suggests the decline from 1.6304 top is still in progress and further weakness to 1.6040 would be seen, however, near term oversold condition should limit downside to previous support at 1.6009 and risk from there is seen for a rebound later.

Although current breach of this week’s low at 1.2956 signals recent decline from 1.3284 top is still in progress and weakness to 1.2920-25 is likely, loss of near term momentum should limit downside to 1.2900, risk from there remains for a much needed corrective rebound to take place. Above the Kijun-Sen (now at 1.2977 would bring test of intra-day high of 1.3008, then the Ichimoku cloud bottom (now at 1.3021) but 1.3065-67 (previous resistance and current level of the upper Kumo) should limit upside, bring another decline.

Dollar’s breach of support at 79.64 signals recent decline has resumed and bearishness remains for further weakness to 79.20/25, however, near term oversold condition should prevent sharp fall below 79.00 and risk from there is seen for another corrective rebound to take place later this week.

Although current breach of previous resistance at 0.9272 confirms the rise from 0.9043 low is still in progress and further gain to 0.9300-10 is underway, near term overbought condition should limit upside to previous resistance at 0.9335 and reckon 0.9350-60 would hold from here, risk from there is seen for a retreat later.

Cable’s intra-day selloff after meeting renewed selling interests around the Ichimoku cloud suggests the decline from 1.6304 top is still in progress and further weakness to 1.6040 would be seen, however, near term oversold condition should limit downside to previous support at 1.6009 and risk from there is seen for a rebound later.

Although current breach of this week’s low at 1.2956 signals recent decline from 1.3284 top is still in progress and weakness to 1.2920-25 is likely, loss of near term momentum should limit downside to 1.2900, risk from there remains for a much needed corrective rebound to take place. Above the Kijun-Sen (now at 1.2987 would bring test of intra-day high of 1.3008, then the Ichimoku cloud bottom (now at 1.3027) but 1.3065-67 (previous resistance and current level of the upper Kumo) should limit upside, bring another decline.

Dollar’s breach of recent support at 79.64 signals recent decline has resumed and bearishness remains for further weakness to 79.20/25, however, near term oversold condition should prevent sharp fall below 79.00 and risk from there is seen for another corrective rebound to take place later this week.

Although dollar’s rebound after holding above support at 0.9191 suggests consolidation with upside bias would be seen, break of this week’s high of 0.9272 is needed to signal the rise from 0.9043 has resumed and extend gain to 0.9300, however, loss of near term momentum should prevent sharp move beyond previous resistance at 0.9335 and risk from there is seen for a retreat later.

Failure to extend yesterday’s rebound from 1.6124 and the overnight retreat suggest caution on our long position entered at 1.6130 and 1.6095 needs to hold to retain bullishness for another rebound, above resistance at 1.6199 would add credence to our view that low is formed and bring retracement of the decline from 1.6304 to resistance at 1.6215 but break there is needed to confirm

Although the single currency met renewed selling interests around the Ichimoku cloud bottom, break of this week’s low at 1.2956 is needed to confirm the decline from 1.3284 top has resumed and extend weakness to 1.2940 and possibly 1.2920-25 but loss of near term momentum should limit downside to 1.2900, risk from there has increased for a rebound later.

Failure to extend yesterday’s rebound and the overnight retreat on risk aversion suggest caution on our long position entered at 79.85 and 79.55-60 needs to hold to retain bullishness for another rebound to the Ichimoku cloud top (now at 80.01) but break of yesterday’s high of 80.08 is needed to signal the fall from 80.61 has ended and bring another rebound towards this level.

Although dollar’s rebound after holding above support at 0.9191 suggests consolidation with upside bias would be seen, break of this week’s high of 0.9272 is needed to signal the rise from 0.9043 has resumed and extend gain to 0.9300, however, loss of near term momentum should prevent sharp move beyond previous resistance at 0.9335 and risk from there is seen for a retreat later.

Failure to extend yesterday’s rebound from 1.6124 and the overnight retreat suggest caution on our long position entered at 1.6130 and support at 1.6115 needs to hold to retain bullishness for another rebound, above resistance at 1.6199 would add credence to our view that low is formed and bring retracement of the decline from 1.6304 to resistance at 1.6215 but break there is needed to confirm

Although the single currency met renewed selling interests around the Ichimoku cloud bottom, break of this week’s low at 1.2956 is needed to confirm the decline from 1.3284 top has resumed and extend weakness to 1.2940 and possibly 1.2920-25 but loss of near term momentum should limit downside to 1.2900, risk from there has increased for a rebound later.

Failure to extend yesterday’s rebound and the overnight retreat on risk aversion suggest caution on our long position entered at 79.85 and support at 79.64 needs to hold to retain bullishness for another rebound to the Ichimoku cloud top (now at 80.01) but break of yesterday’s high of 80.08 is needed to signal the fall from 80.61 has ended and bring another rebound towards this level

Although the greenback has rebounded after holding above yesterday’s low at 0.9191, if our view a temporary top is formed at 0.9272 is correct, further consolidation would be seen and another retreat cannot be ruled out, below said support would bring retracement of the rise from 0.9043 to 0.9158 (50% Fibonacci retracement of 0.9043-0.9272), however, 0.9130 (61.8% Fibonacci retracement) would hold, bring another rise.

Cable’s intra-day selloff suggests caution on our long position entered at 1.6130 and yesterday’s low at 1.6115 needs to hold to retain bullishness for another rebound, above resistance at 1.6199 would add credence to our view that low is formed and bring retracement of the decline from 1.6304 to resistance at 1.6215 but break there is needed to confirm, bring further gain to previous resistance at 1.6248

Although the single currency has retreated after faltering below yesterday’s high of 1.3073 and near term downside risk remains for marginal weakness from here, however, break of said support at 1.2956 is needed to confirm recent decline has resumed and extend the fall from 1.3284 to 1.2950 and possibly 1.2920-25 but loss of near term momentum should limit downside to 1.2900.

Despite intra-day brief bounce to 80.08, as the greenback has retreated after faltering below the Ichimoku cloud top, suggesting further consolidation would be seen, however, still reckon support at 79.64 would contain downside and bring another rebound later, a sustained breach of the upper Kumo (now at 80.10) would bring a stronger rebound towards resistance at 80.61