Despite yesterday’s bounce to 0.9995, as renewed selling interest emerged there and price has retreated again, retaining our bearishness for recent decline to resume after consolidation, break of last week’s low of 0.9928 would confirm and extend the decline from 1.0524 in C wave to 0.9892 support, however, break there is needed to bring weakness to 0.9850 but oversold condition should limit downside to 0.9800

Yesterday’s rally has justified our bullishness, our long position entered at 99.60 earlier finally met indicated target at 101.60 (with 200 points profit) and current breach of 102.21 resistance adds credence to our view that low at been formed at 97.04 (wave v bottom) and bullishness remains for this minor c leg of correction to take place for further gain to 102.90-00, however, near term overbought condition should prevent sharp move beyond 103.50-60 and reckon 103.90-00 would hold

Although aussie has risen again after brief pullback and recent rise from 0.9388 may extend further gain in wave c to 1.0850-60 and possibly 1.0900, overbought condition should limit upside to 1.0950-60 and the diagonal triangle outlook of the latest move suggest this c leg should falter below previous resistance at 1.1081, bring retreat later.

Despite yesterday’s fall to 0.8264, the subsequent rebound suggests consolidation would be seen and above 0.8340 would bring a stronger recovery to 0.8380/85, however, resistance at 0.8409 would hold and bring another decline later. A break of indicated support at 0.8255 would add credence to our view that correction from 0.8222 has ended at 0.8409 and bring retest of this level later.

Although the greenback recovered after last week’s fall to 0.9928 and consolidation would be seen, as long as last Friday’s high of 1.0034 holds, bearishness remains for recent decline to resume later, below said support at 0.9928 would extend the decline from 1.0524 in C wave to 0.9892 support, however, break there is needed to bring weakness to 0.9850 but oversold condition should limit downside to 0.9800

As the single currency found renewed buying interest at 99.86 yesterday and has rebounded again, retaining our near term bullishness for another rebound, a sustained breach of 100.90-00 would signal the retreat from 102.21 has ended and bring a stronger rebound to 101.40-50, Looking ahead, a break of resistance at 102.21 is needed to extend the rise from 97.04 low (wave v bottom) for major correction of recent decline in wave (iv) to 102.50-55 and possibly towards 102.90-00

As aussie has risen again after brief retreat to 1.0682 yesterday, suggesting recent rise from 0.9388 is still in progress as wave c and further gain to 1.0850 and possibly 1.0900 would be seen, however, overbought condition should limit upside to 1.0950-60 and c leg should falter below previous resistance at 1.1081, bring retreat later.

As the single currency has remained under pressure, we are keeping our bearish view that top has possibly been formed at 0.8409 and consolidation with downside bias remains for further weakness to previous support at 0.8255, however, reckon support at 0.8222 would hold from here. We are keeping our latest bearish count that the wave (C) is unfolding and bearishness remains the minor wave iii to extend further decline

Despite Friday’s fall to 0.9928, as price has rebounded today after holding above this support, suggesting consolidation would be seen, however, as long as Friday’s high of 1.0034 holds, bearishness remains for recent decline to resume after consolidation, below said support at 0.9928 would extend the decline from 1.0524 in C wave to 0.9892 support, however, break there is needed to bring weakness to 0.9850

Despite Friday’s rebound to 100.89, lack of follow through buying on break of 100.88 resistance and the subsequent retreat suggest further consolidation would be seen but as long as 99.62 holds, consolidation with upside bias remains for another rebound later. A sustained breach of said resistance at 100.89 would signal the retreat from 102.21 has ended and bring a stronger rebound to 101.40-50

Despite Friday’s rise to 1.0794, the subsequent retreat suggests consolidation would be seen and pullback to 1.0600 is likely, however, renewed buying interest should emerge above last week’s low at 1.0526 and bring another rise later. A sustained breach of said resistance would add credence to our bullishness and extend the rise from 0.9388 to 1.0820 and possibly to 1.0850 but near term overbought condition should limit upside

As the single currency has remained under pressure, retaining our view that top has possibly been formed at 0.8409 and consolidation with downside bias remains for further weakness to previous support at 0.8255, however, reckon support at 0.8222 would hold from here. We are keeping our latest bearish count that the wave (C) is unfolding and bearishness remains the minor wave iii to extend further decline

Despite intra-day brief bounce to 1.0034, as the greenback met renewed selling interest there and has retreated, retaining our bearishness for recent decline to resume after consolidation, below this week’s low at 0.9964 would extend the decline from 1.0524 in C wave to 0.9892 support, however, break there is needed to bring weakness to 0.9850 but oversold condition should limit downside to 0.9800

Despite slipping to 99.62 yesterday, renewed buying interest emerged there and the single currency has rebounded again and another bounce to 100.70 is likely, however, break of indicated resistance at 100.88 is needed to signal the retreat from 102.21 has ended and bring a stronger rebound to 101.40-50, Looking ahead, a break of resistance at 102.21 is needed to extend the rise from 97.04 low (wave v bottom) for major correction of recent decline in wave (iv) to 102.50-55

Despite yesterday’s rise to 1.0758, lack of follow through buying on break of previous resistance at 1.0753 and the subsequent retreat suggest consolidation would be seen and pullback to 1.0600 is likely, however, renewed buying interest should emerge above this week’s low at 1.0526 and bring another rise later. A sustained breach of said resistance would add credence to our bullishness and extend the rise from 0.9388 to 1.0800

As the single currency has fallen again after brief recovery, adding credence to our view that top has possibly been formed at 0.8409 and consolidation with downside bias is seen for further weakness to previous support at 0.8255, however, reckon support at 0.8222 would hold from here. We are keeping our latest bearish count that the wave (C) is unfolding and bearishness remains the minor wave iii to extend further decline

As the greenback has fallen again after meeting renewed selling interest at 1.0055 in line with our expectations, retaining our bearishness for recent decline to resume, break of support at 0.9966 would extend recent decline from 1.0524 in C wave to 0.9892 support, however, break there is needed to extend weakness to 0.9850 but oversold condition should limit downside to 0.9800 and risk from there has increased for a rebound

Despite yesterday’s fall to 99.25, as the single currency found support there and rebounded to 100.70, retaining our near term bullishness and as long as said support holds, prospect of another rebound remains and above 100.88 resistance would signal the retreat from 102.21 has ended and bring a stronger rebound to 101.40-50, Looking ahead, a break of resistance at 102.21 is needed to extend the rise from 97.04 low (wave v bottom) for major correction of recent decline in wave (iv) to 102.50-55

As aussie has risen again after brief pullback to 1.0569, suggesting recent rise from 0.9664 is still in progress and further gain to previous resistance at 1.0753 (top of a leg), however, break there is needed to retain bullishness and extend the rise from 0.9388 to 1.0800 and possibly to 1.0850 but near term overbought condition should limit upside and reckon 1.0900 would hold from here.