EURUSD
The Euro has established positive tone on hourly chart, consolidating 1.3704/1.3807 recovery rally, despite failure to clear important 1.38 barrier, where 4-hour 55SMA capped for now. However, prevailing negative tone on 4-hour chart requires caution, as repeated upside rejection at 1.38 barrier, Fibonacci 38.2% retracement of 1.3965/1.3704, would risk fresh leg lower and retest near-term base and daily cloud top at 1.37 zone. Break here to resume downtrend off 1.3965, otherwise, sustained break above 1.38 hurdle would open 1.3835, 50% retracement / daily 20SMA and pivotal 1.3874, 24 Mar peak / near Fibonacci 61.8% retracement, above which to confirm formation of higher low at 1.3704 and shift focus towards 1.3946 and key 1.3965 resistance, peak of 13 Mar.
Res: 1.3807; 1.3845; 1.3874; 1.3900
Sup: 1.3760; 1.3721; 1.3700; 1.3662
GBPUSD
Cable continues to trend higher and broke above initial 1.6665 barrier to test 1.6685, Fibonacci 61.8% retracement of 1.6821/1.6464 descend so far. Hourly studies are positive, while overextended 4-hour conditions and yesterday
Linear Mode
