|EUR-USD @ 1.4293/95...Immediate Support at 1.4260|
|R: 1.4315-24 / 1.4350 / 1.4404|
S: 1.4260 / 1.4192 / 1.4157Despite breaking above the 55-MA on the hourly briefly, the pair fell once again. There's immediate Support at 1.4260, if held, the pair may attempt to break above this 55-MA on 1H once again. If successful the pair may see some decent corrective rise which it has not seen after the sharp fall over the last three weeks. If so, the pair may rise towards 1.45 over the course of the week. Else, on the downside, it has 200-DMA Support at 1.4192. The Projected Max High and Low for the day is at 1.4404 and 1.4157 respectively.
|EUR-JPY @ 130.51/55...May move around 130 for some time|
|R: 130.70-89 / 131.69-85 / 132.45-53|
S: 130.27 / 130.00-129.80 / 129.62The Cross has risen towards 130.72 as was anticipated in yesterday's evening comments. It is likely to oscillate around 130 over the next few days before surging towards 132+. As mentioned yesterday, each time the pair has fallen towards 127 last year, it has recovered equally fast. And if so, the rise towards 132+ may not be too far off. The Projected Max High and Low for the day is at 131.85 and 128.83 respecitvely.
|GBP-USD @ 1.6064/67...200-DMA at 1.6007|
|R: 1.6096-6115 / 1.6147 / 1.6195-6222|
S: 1.6007 / 1.5883 / 1.5782Cable has fallen and is approaching the 200-DMA at 1.6007. Till this holds, there is every possibility that the pair may bounce from here. If it doesn't then the pair will render itself further bearish for 1.56-1.57 over the next few weeks. However, if the pair drifts lower because of inactivity during the next couple of weeks, it shall not be construed as a break of the Support. For today, the Projected Max High and Low for the day is at 1.6222 and 1.5883 respectively.
The longe term charts suggest a possibility of Double Top which can be confirmed on a fall below the 55-week MA which is at 1.5620 this week. That is a long way from here. There, however are not too many Support between the 200-DMA and 55-week MA.
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