Despite last week’s fall to 0.7461, the subsequent rebound from there suggests the retreat from 0.7879 has ended at 0.7461 and consolidation with mild upside bias is seen for recovery to 0.7800-10 and possibly towards said resistance at 0.7879, however, above there is needed to signal another leg of corrective rise from 0.7371 low is underway for test of the Ichimoku cloud bottom

Despite early fall to 0.9862, yesterday’s rebound formed a long white candlestick, suggesting a minor low has been formed at 0.9862 and consolidation above this level would take place, however, as long as the Tenkan-Sen (now at 1.0121) holds,  mild downside bias remains for another decline and a break of said support at 0.9862 would extend the decline from 1.0382 to 0.9800

Despite last week’s selloff to 1.5408, lack of follow through selling on the break of previous support at 1.5423 and the subsequent rebound suggest consolidation above this level would take place and correction to the Tenkan-Sen (now at 1.5589) is likely, however, reckon upside would be limited to 1.5690-00 and bring another decline later.

Despite early anticipated resumption of upmove to 0.9549, the subsequent retreat suggests a minor top is formed there and consolidation with mild downside bias is seen for retracement to 0.9290-00, however, reckon the Kijun-Sen (now at 0.9255) would limit downside and attract renewed buying interest, bring another rise later. A break of said resistance would extend the major rise from record low of 0.7068 is still in progress and extend further gain to 0.9562

Last week’s selloff and the breach of previous support at 1.3145 adds credence to our bearish view that the decline from 1.4940 (2011 top) is still in progress and further weakness to 1.2900 would be seen, however, a break of previous support at 1.2860 (2011 low) is needed to extend further weakness to 1.2790/00 but oversold condition should prevent sharp fall below 1.2690-00

Dollar’s rebound after finding renewed buying interest at 77.13 has retained our view that retreat from 78.29 has ended there (with a doji star) and consolidation with upside bias remains, however, a daily close above this level is needed to signal another leg of major corrective rise from 75.31 is underway and extend gain to resistance at 79.10.

The single currency extended recent decline in line with our bearish expectation (our short position entered at 105.00 met target at 102.70) and once indicated support at 102.50 was penetrated, euro quickly dropped to as low as 101.05 yesterday. This anticipated decline signal the correction from 100.77 record low has ended at 111.57 and bearishness is seen for a retest of this level

As the greenback rallied to as high as 1.0423 earlier this week, suggesting the entire price action from 1.0658 is developing into a triangle and although the rebound from 1.0052 may extend marginal gain above said resistance, a daily close above the key level at 1.0524 is needed to signal an upside break of this triangle has taken place and extend gain to 1.0600 and possibly towards recent high at 1.0658

The single currency has fallen again after meeting renewed selling interest around the Kijun-Sen and once indicated support at 0.8486 was penetrated, euro extended recent decline from 0.9084 in line with our expectation to as low as 0.8373, adding credence to our bearish view for the aforesaid fall to bring a stronger correction of the rise from 0.8067 to 0.8357 support and then 0.8300

The greenback continued to trade in narrow range and further sideways trading below previous resistance at 1.2475 would be seen, although pullback to 1.2200 cannot be ruled out, renewed buying interest should emerge there and bring another rise later. Above said resistance at 1.2475 would confirm the rise from record low of 1.0075 has resumed and extend gain to indicated target at 1.2500

Despite rising to 80.45 early this month (we recommended to sell aussie at 80.00), the currency pair met heavy offers there in line with our expectations and has retreated from there, just met our indicated target at 78.00 yesterday as price dropped to as low as 77.85 (our short position entered at 80.00 met target at 78.00 with 200 points profit), suggesting the rebound from 74.75 has possibly ended at 80.45.

Despite last week’s brief rise to 1.0382, the subsequent sharp retreat signals the rebound from 0.9664 has ended there and consolidation with downside bias is seen for weakness to 0.9900, however, near term oversold condition should limit downside to 0.9790 and price should stay well above support at 0.9664 and bring further choppy consolidation within early established range later.

Although the British pound rebounded again to 1.5770 last week, renewed selling interest emerged just below previous resistance at 1.5780 and the Kijun-Sen and price has dropped again from there, then broke below previous support at 1.5562 yesterday, adding credence to our bearish view that the rebound from 1.5423 has possibly ended at 1.5780 and bearishness remains for weakness to 1.5525-30

The greenback finally resumed recent upmove in line with our expectations, our long position entered at 0.9095 met indicated target at 0.9295 as dollar rallied above resistance at 0.9299 and 0.9331 yesterday. This anticipated resumption of upmove signals the major rise from record low of 0.7068 is still in progress and further gain to indicated upside target at 0.9399 (50% Fibonacci retracement of 1.1730-0.7068), then 0.9450 would be seen

Euro’s anticipated retreat from 1.3550 met indicated downside target at 1.3330 last week as price dropped to as low as 1.3282 last Friday, adding credence to our bearish view that the rebound from 1.3213 has ended at 1.3550 and bearishness remains for another test of this support, however, a break there is needed to confirm and signal decline from 1.4248 has resumed, then eventual weakness to next support at 1.3145

Despite last week’s brief fall to 77.13, the greenback found good support there and staged a quick rebound, a doji star with a long lower shadow was formed on the daily chart, suggesting consolidation above this level would be seen, however, above 78.11-16 minor resistance is needed to signal low is formed at 77.13 last week, bring further gain to resistance at 78.29, then towards resistance at 79.10.

Despite last week’s rebound to 105.72, as the single currency met renewed selling interest around the Ichimoku cloud bottom and has retreated again from there, retaining our bearishness and signal the rebound from 102.50 has ended at 105.72 and downside bias remains for another test of this support, however, break there is needed to extend the decline from 111.57 top to 102.00 and possibly towards 101.50

Despite yesterday’s brief fall to 1.0052, as the greenback found good support there and has staged a strong rebound, a long white candlestick was formed on the daily chart, suggesting the retreat from 1.0524 has formed a low there, hence consolidation with mild upside bias is seen for test of the Tenkan-Sen (now at 1.0250), then the Kijun-Sen (now at 1.0288).

Despite last week’s recovery to 0.8620, yesterday’s sharp retreat suggest early rebound from 0.8486 has ended at 0.8665 last month and bearishness remains for a retest of this support, however, break there is needed to confirm the decline from 0.9084 top has resumed and extend weakness to 0.8455 (61.8% Fibonacci retracement of 0.8067 to 0.9084) and possibly towards 0.8400.