Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Trades in a narrow range after fall from 1.3358 lower high reached fresh low at 1.3054. Corrective attempts are so far limited by 1.3200, with immediate focus on retest of 1.2968, 30 Nov low. To avoid this scenario, higher low above the latter is requited and break above 1.32 to open 1.3358, then 1.3497.

Res: 1.3179, 1.3200, 1.3225, 1.3264
Sup: 1.3072, 1.3059, 1.3049, 1.2968

GBP/USD
Accelerates downtrend from 1.5910, breaking below 1.5483, previous low; 1.5405, falling wedge support and 1.5389, 200 day MA, to test 1.5345. This suggests further weakness, with 1.5295 in focus, while 1.5575 offers immediate cap. Only regain of 1.5645 to ease bear pressure.

Res: 1.5492, 1.5518, 1.5575, 1.5645
Sup: 1.5355, 1.5343, 1.5295, 1.5250

USD/JPY
Extends weakness of 84.49 after break below 82.83 support has so far seen 82.64, en-route to key near-term support at 82.33. Break here would open way for fresh bear phase and expose 81.85, 61.8% of 80.24/84.49 ascend. Above 84.49, however, would resume corrective attempt off 80.24.

Res: 83.89, 84.19, 84.39, 84.49
Sup: 82.33, 81.85, 81.65, 81.25

USD/CHF
Extended fall from 1.0064/0.9916, to reach 0.9495, just above yearly low at 0.9461. Correction higher is underway, with immediate resistance at 0.9663, below where a lower top is anticipated for fresh attempt towards 0.9461. Upside regain of 0.9718/32 is required to open way for stronger correction.

Res: 0.9663, 0.9694, 0.9718, 0.9732
Sup: 0.9573, 0.9550, 0.9495, 0.9461

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD

The latest descend off 1.3497 has so far found support at 1.3054, with fresh attempt higher under way. Clearance of 1.3200 resistance sidelined immediate risk of retest of 1.2968 key support, turning the near-term focus higher. 1.3273 reached so far, that also marks 50% retracement of 1.3497/1.3054 downleg. However, break above 1.3358 lower top is needed to resume recovery and open 1.3497.

Res: 1.3273, 1.3327, 1.3358, 1.3377
Sup: 1.3158, 1.3128, 1.3078, 1.3054

GBP/USD

Weakness off 1.5910, 14 Dec lower high, broke through 1.5483 previous low, extending losses through 1.5392, 200 day MA, to 1.5355 so far. While 1.5645 caps corrective attempts, risk remains for fresh push lower, and loss of 1.5355 to expose 1.5295, key medium-term support. Above 1.5645, however, would allow for stronger correction towards 1.5694, 61.8% retracement of 1.5910/1.5355 downleg.

Res: 1.5510, 1.5566, 1.5575, 1.5645
Sup: 1.5468, 1.5411, 1.5368, 1.5355

USD/JPY

Continues to trend lower after an upside failure at 84.49. Key near-term supports at 82.83/33 have been lost, with brief break through 61.8% retracement of 80.24/84.49 at 81.97and 81.90, main trendline support drawn off 80.24, suggesting further weakness towards 81.60/00 zone next. Immediate resistances lie at 83.16/38 and only break above the latter to ease bear pressure.

Res: 82.33, 82.83, 83.16, 83.38
Sup: 81.82, 81.60, 81.06, 80.55

USD/CHF

Recovery attempt from 0.9495 has been short-lived as market failed to sustain gains above 0.9640, with sharp reversal followed. Break below 0.9495 and historical low and 2010 low at 0.9461 suggests fresh bear phase, while only regain of 0.9660/0.9732 would provide relief.

Res: 0.9518, 0.9534, 0.9563, 0.9577
Sup: 0.9461, 0.9452, 0.9432, 0.9410

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (10:00 GMT)

EUR/USD
Retraces the latest rally off 1.3082 that hit a fresh three-weeks high at 1.3423 on 31 Dec. Over 50% has so far been retraced at 1.3249, ahead of correction. Lower top under 1.3360/82 zone will confirm the continuation of the bear phase from 1.3497 lower top, and break below 1.3249 to target 1.3231, 120 day MA and 1.3212, 61.8% of 1.3082/1.3423 upleg. Below here, next strong supports lie at 1.3085/54, 200 day MA / 23 Dec higher low, break of which exposes key near-term support at 1.2968. Only regain of 1.3423 will signal further recovery and open 1.3497 next.

Res: 1.3360, 1.3382, 1.3423, 1.3440
Sup: 1.3249, 1.3231, 1.3212, 1.3200

GBP/USD
Recovery attempt off 1.5343/66 peaked at 1.5659 on 31 Dec, ahead of sharp reversal. Market has so far retraced over 61.8% of the original move, reaching fresh low of 1.5471 today, just above 90 day MA at 1.5465. Hourly structure remains negative, with 1.5431 seen next, ahead of possible retest of 1.5366/43 key support zone, loss of which will confirm lower top at 1.5659 and signal resumption of corrective reversal from 1.6293, November’s peak. Upside remains capped by 1.5561/84, while break above 1.5659 is required to resume recovery off 1.5343.

Res: 1.5561, 1.5584, 1.5621, 1.5659
Sup: 1.5471, 1.5431, 1.5366, 1.5343

USD/JPY
Loss of key near-term support at 82.33 has triggered further weakness from 84.49 to retrace over 76.4% of 80.24/84.49 ascend at 80.92, and confirm the double top. Immediate target now lies at 80.52, 09 Nov higher low, ahead of key support at 80.24, break of which will open way for retest of 79.75, 1995 historical low. To ease immediate bear pressure, 81.84 must be regained, with sustained break here to trigger fresh recovery towards 82.28/52.

Res: 81.84, 82.28, 82.52, 82.80
Sup: 80.92, 80.52, 80.00, 79.75

USD/CHF
Extended the broader fall from 1.0064/0.9916, breaking through 2010 low at 0.9461, to reach fresh all time low at 0.9301. Correction on oversold conditions is under way, with immediate cap standing at 0.9530, with lower top expected to precede fresh weakness through 0.9301 towards 0.9230/0.9155 projected levels. Only regain of 0.9663 would provide short-term relief.

Res: 0.9416, 0.9432, 0.9468, 0.9530
Sup: 0.9345, 0.9301, 0.9230, 0.9200

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (15:40 GMT)

EUR/USD
Remains at the back foot after falling from 1.3423 to 1.3249, with subsequent recovery so far being capped by 1.3364. While 1.3423 peak stays intact, focus is turned lower, and loss of 1.3249 to target 1.3212, 61.8% of 1.3082/1.3423 upleg. Strong support lies at 1.3085/54, ahead of key 1.2968, 30 Nov higher low.

Res: 1.3364, 1.3382, 1.3423, 1.3440
Sup: 1.3305, 1.3280, 1.3249, 1.3212

GBP/USD
Maintains negative tone following sharp reversal from 1.5659 to 1.5445. Corrective attempt off the latter was short-lived, leaving lower high at 1.5516, ahead of fresh weakness. Retest of 1.5366/43 lows would be the likely scenario, with break here to end recovery phase from 1.5343 and resume the broader downtrend. Only above 1.5659 improves the outlook.

Res: 1.5516, 1.5561, 1.5584, 1.5621
Sup: 1.5445, 1.5431, 1.5366, 1.5343

USD/JPY
Upside rejection at 84.49 and break below key supports at 82.83/33 has sparked fresh weakness to reach 80.92 so far, ahead of correction. Immediate resistance lies at 81.84, with clearance of 82.52 needed to improve outlook and allow for stronger correction. Otherwise, fresh attempt through 80.92, towards 80.52/24 key short-term supports and possible attack at 79.75, 1995 extreme low, is likely.

Res: 81.84, 82.28, 82.52, 82.80
Sup: 81.35, 80.92, 80.52, 80.24

USD/CHF
Extended the broader fall from 1.0064/0.9916, breaking through 2010 low at 0.9461, to reach fresh all time low at 0.9301. Consolidation above here is underway, with immediate focus on 0.9301 retest, break of which to open 0.9230/0.9155 next. Upside remains capped by 0.9530 and only break here would offer relief for 0.9628/63.


Res: 0.9381, 0.9416, 0.9432, 0.9468
Sup: 0.9301, 0.9230, 0.9200, 0.9150

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD
Near-term outlook keeps focus to the downside while 1.3423 holds, and potential break here to resume recovery from 1.3054 higher low. Key resistance lies at 1.3497, with break here required to spark fresh bulls. Downside remains supported by 1.3085/54, ahead of key 1.2968 support.

Res: 1.3394, 1.3423, 1.3440, 1.3497
Sup: 1.3322, 1.3305, 1.3280, 1.3249

GBP/USD
Strong reversal off 1.5659 has so far found support at 1.5433, with rally under way. Sustained break above 1.5561 will open 1.5659, key near-term barrier, break of which is needed to resume recovery phase off 1.5343. Failure under 1.5659 would delay bulls, though, only loss of 1.5433 to re-focus 1.5366/43.

Res: 1.5584, 1.5621, 1.5659, 1.5718
Sup: 1.5502, 1.5453, 1.5433, 1.5366

USD/JPY
Correction off 80.92 yesterday’s low, accelerated after clearing 81.84 resistance, to retrace 38.2% of 84.49/80.92 downleg at 82.27. Further correction would target 82.69 and 83.13, 50% / 61.8% levels. Overbought hourly conditions, however, warn of pullback preceding the fresh rally. Only loss of 81.49 to risk return to 80.92.

Res: 82.27, 82.52, 82.69, 82.94
Sup: 81.60, 81.49, 81.21, 80.92

USD/CHF
Fresh strength off historical lows retraced around 38.2% of the latest 0.9644/0.9301 downleg, though, regain of 0.9511/31, 61.8% / 29 Dec high, is required to maintain near-term bulls and open way for retest of 0.9644/63 zone. Otherwise, risk remains of a lower top and fresh weakness towards 0.9301.

Res: 0.9444, 0.9472, 0.9490, 0.9511
Sup: 0.9381, 0.9340, 0.9318, 0.9301

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:50 GMT)

EUR/USD
Recovery off yesterday’s low of 1.3249 stalled at 1.3394, followed by pullback. Support was found at 1.3322 where fresh strength has emerged. Clearance of 1.3394 barrier has accelerated gains to test and slightly exceed resistance at 1.3423. Sustained break here is required to continue towards 1.3497, key short-term resistance. Initial support lies at 1.3322, ahead of 1.3249, break of which would signal a double top.

Res: 1.3431, 1.3440, 1.3497, 1.3530
Sup: 1.3377, 1.3322, 1.3305, 1.3280

GBP/USD
Maintains positive near-term tone after finding support at 1.5453/33 zone. Strong rally that emerged from here has nearly fully retraced 1.5659/1.5433 downleg, reaching 1.5644 so far. Break above 1.5659 is needed to trigger resumption of the recovery from 1.5343 and expose 1.5691, 61.8% of 1.5910/1.5343 downleg. Below 1.5433 re-exposes 1.5366/43.

Res: 1.5644, 1.5659, 1.5691, 1.5718
Sup: 1.5592, 1.5546, 1.5502, 1.5453

USD/JPY
Correction off 80.92 yesterday’s low, accelerated after clearing 81.84 resistance, to retrace 38.2% of 84.49/80.92 downleg at 82.27. Further gains would target 82.69 and 83.13, 50% / 61.8% levels. Corrective pullback should be contained by 81.80/70 zone, while loss of 81.49 would risk return to 80.92.

Res: 82.27, 82.52, 82.69, 82.94
Sup: 81.99, 81.83, 81.70, 81.60

USD/CHF
Fresh strength off historical lows retraced 50% of the latest 0.9644/0.9301 downleg at 0.9475, though, regain of 0.9511/31, 61.8% / 29 Dec high, is required to maintain near-term bulls and open way for retest of 0.9644/63 zone. Otherwise, risk remains of a lower top and resumption of the broader downtrend for retest of 0.9301..

Res: 0.9473, 0.9490, 0.9511, 0.9531
Sup: 0.9429, 0.9408, 0.9381, 0.9340

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15 GMT)

EUR/USD
Yesterday’s failure to sustain gains above key near-term barrier at 1.3423, with 1.3431 reached, has triggered sharp sell-off through 1.3322 support, to nearly fully retrace the latest 1.3249/1.3431 upleg. However, while 1.3217, 61.8% of 1.3082/1.3431 upleg holds, near-term bulls remain in play for renewed attempt at 1.3431, break of which will open 1.3497, key short-term resistance. Loss of 1.3217 would further weaken the structure.

Res: 1.3328, 1.3394, 1.3431, 1.3497
Sup: 1.3249, 1.3217, 1.3177, 1.3105

GBP/USD
Upside so far remains capped by 1.5659 after yesterday’s renewed attempt higher stalled at1.5644, ahead of pullback. Support was found at 1.5535, with fresh strength under way. Clearance of 1.5644/59 is required to continue recovery and focus 1.5691, 61.8% of 1.5910/1.5343 decline, while failure there risks reversal to 1.5451/31.

Res: 1.5619, 1.5644, 1.5659, 1.5691
Sup: 1.5576, 1.5551, 1.5535, 1.5502

USD/JPY
Remains in a near-term corrective/consolidative phase after rally from 80.92 reached 82.27 high. The range bottom at 81.67 offers key support and while the latter intact, scope exists for fresh push higher and through 82.27 to open 82.52/94 next. Loss of 81.67, however, risks return to 80.92.

Res: 82.19, 82.27, 82.52, 82.94
Sup: 81.87, 81.67, 81.49, 81.21

USD/CHF
Extended rally from 0.9301/06 lows to reach 0.9515, ahead of minor correction. Fresh gains are approaching 0.9531 barrier, break of which will open way towards 0.9591, 61.8% retracement of 1.0064/0.9301 decline, where a lower high is anticipated, ahead of extension of the broader downtrend.

Res: 0.9531, 0.9563, 0.9591, 0.9644
Sup: 0.9467, 0.9429, 0.9408, 0.9381

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
Upside rejection at 1.3431 has triggered sharp reversal with today’s loss of key near-term support at 1.3249 accelerating losses. Key short-term supports at 1.3100/1.3085, trendline connecting 1.2968 and 1.3054 / 200 day moving average, are now in focus, break of which will look for retest of 1.2968, 30 Nov higher low pivot. Immediate cap lies at 1.3249, now reverted to resistance.

Res: 1.3249, 1.3278, 1.3289, 1.3318
Sup: 1.3107, 1.3100, 1.3085, 1.3054

GBP/USD
Upside so far remains capped by 1.5659 after yesterday’s renewed attempt higher stalled at1.5644, and today’s rally off 1.5535 higher low stalled at 1.5626. While holding below these levels, immediate risk is turned lower, though loss of 1.5497 trendline support and 1.5433 higher low is needed to confirm and open 1.5366/43 zone for retest.


Res: 1.5535, 1.5578, 1.5626, 1.5644
Sup: 1.5497, 1.5453, 1.5433, 1.5417

USD/JPY
Extends recovery off 80.92, 03 Jan low, after yesterday’s corrective pullback from 82.27 found support at 81.67. Fresh strength emerged from the latter, acceleration on a break above 82.27, to exceed 82.94 resistance and retracing over 50% of 84.49/80.92 downleg. Next target lies at 83.12, 61.8%, with lift above here to possibly re-focus 84.49. Support zone lies at 82.27/81.67.

Res: 83.12, 83.38, 83.70, 83.90
Sup: 82.52, 82.27, 81.87, 81.67

USD/CHF
Break above yesterday’s 0.9515 high and 0.9531, 29 Dec high, has accelerated gains from 0.9301/06 all-time lows. Market is approaching next barriers at 0.9644 and 0.9681, 50% of 1.0064/0.9301 decline, ahead of 60 day MA at 0.9740 and 61.8% at 0.9770. Today’s minor higher platform at 0.9467 offers immediate support.

Res: 0.9612, 0.9644, 0.9681, 0.9740
Sup: 0.9531, 0.9482, 0.9467, 0.9429

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Extends decline from 1.3431, with break through yesterday’s low at 1.3125, now attempting through trendline support at 1.3104 for test of 1.3085, 200 day MA. Break here to expose 1.3054 higher platform and key 1.2968 support. Immediate resistances lie at 1.3169/92, but regain of 1.3249/84 is required to ease bear pressure

Res: 1.3158, 1.3169, 1.3192, 1.3249
Sup: 1.3085, 1.3071, 1.3054, 1.2968

GBP/USD
Upside so far remains capped by 1.5659 after renewed attempts higher failed at 1.5644 and 1.5626. While the above levels stay intact, immediate risk is turned lower, for test of 1.5449/33 and trendline support at 1.5417, break of which will confirm lower top at 1.5659 and expose 1.5366/43 next

Res: 1.5540, 1.5578, 1.5626, 1.5644
Sup: 1.5489, 1.5449, 1.5433, 1.5417

USD/JPY
Strong rally emerged from yesterday’s 81.67, accelerating gains after break above 82.27, previous high, to reach 83.38, retracing over 61.8% of 84.49/80.92 downleg. Corrective pullback is under way, with immediate support at 82.80. Only loss of 82.45/27 would delay bulls.

Res: 83.38, 83.70, 83.90, 84.19
Sup: 82.80, 82.45, 82.27, 81.87

USD/CHF
Yesterday’s sharp rally after break above 0.9515 previous low, extended gains through 0.9644/63 barriers, approaching key near-term resistances at 0.9720/30 and 0.9770, 61.8% Fibonacci retracement of 1.0064/0.9301. Overbought conditions, however, signal correction, with 0.9545/15 expected to contain pullback, ahead of fresh strength.

Res: 0.9693, 0.9720, 0.9730, 0.9770
Sup: 0.9629, 0.9604, 0.9583, 0.9545

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Broke through trendline support to test 1.3085, 200 day moving average so far. Minor consolidation is under way, with 1.3191 offering immediate cap. Hourly conditions remain bearish and loss of 1.3085/54 to target key 1.2968 level, break of which will end the corrective phase and focus 1.2800, 61.8% of the broader 1.1875/1.4280 ascend.

Res: 1.3125, 1.3158, 1.3169, 1.3192
Sup: 1.3085, 1.3071, 1.3054, 1.2968

GBP/USD
Remains at the back foot after today’s attempt higher failed at 1.5562, ahead of sharp reversal. Narrowing range is now limited by 1.5562 and 1.5604, trendline resistance, and break here needed to maintain short-term uptrend off 1.5343, while downside break below 1.5463/49 confirms top at 1.5659 and opens way for possible retest of 1.5366/43.

Res: 1.5527, 1.5562, 1.5578, 1.5626
Sup: 1.5469, 1.5464, 1.5449, 1.5433

USD/JPY
Trades in a near-term corrective/consolidative mode, following the latest surge to 83.38. Immediate support lies at 82.80, while break below 82.45/27 delays bulls in favor of deeper correction. Clearance of 83.38 to focus 83.90/84.19, with retest of key 84.49 resistance not ruled out on a break of the latter.

Res: 83.38, 83.70, 83.90, 84.19
Sup: 82.80, 82.45, 82.27, 81.87

USD/CHF
0.97 zone caps the recent strong gains off 0.9301/06 historical low, with possible corrective pullback expected to hold above 0.9545/15 to keep immediate bulls in play. Above 0.9700 to target 0.9720/30, then 0.9770, 61.8% Fibonacci retracement of 1.0064/0.9301. Below 0.9515, however, would sideline bulls and allow for stronger correction.

Res: 0.9706, 0.9720, 0.9730, 0.9770
Sup: 0.9648, 0.9629, 0.9604, 0.9583

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Accelerated losses after breaking through 1.3085, 200 day MA and 1.3054, 23 Dec 10 higher low to test 1.2968 pivot. Hourly studies remain bearish but oversold and correction higher would precede fresh weakness. Immediate resistance at 1.3080/1.3130. Break below 1.2968, however, will confirm the end of five-week corrective phase and continue downtrend from 1.4280. Next target lies at 1.2916.

Res: 1.3021, 1.3054, 1.3080, 1.3130
Sup: 1.2968, 1.2948, 1.2916, 1.2891

GBP/USD
Break below near-term supports at 1.5445/33 and attempt through 1.5413, 200 day MA, weakness from 1.5552 and turns focus towards 1.5343, key near-term support, break of which will look for retest of 1.5295, 07 Sep 10 pivot, with possible break here to open way for further retracement of upleg from 1.4230, 20 May 10 low. Corrective bounces so far limited by 1.5552/62, and only break here would improve the near-term outlook.

Res: 1.5472, 1.5500, 1.5552, 1.5562
Sup: 1.5432, 1.5404, 1.5365, 1.5343

USD/JPY
Shallow correction followed sharply rally that peaked at 83.38 yesterday, with fresh strength emerging from 82.87 higher low. Clearance of 83.38 looks for test of 83.90 and 84.19, ahead of final thrust towards key 84.34/49 resistance zone, break of which is needed to resume recovery off 80.24. 82.87 offers initial support, ahead of 82.55, 38.1% Fibonacci retracement of 80.92/83.55 ascend. Only break below 82.00 would sideline near-term bulls.

Res: 83.90, 84.19, 84.35, 84.49
Sup: 83.22, 82.87, 82.55, 82.27

USD/CHF
Extended the recent strength from 0.9301 historical low, to peak at 0.9706, ahead of correction. Support was so far found at 0.9608, which also marks 23.6% of 0.9301/0.9706 upleg, and holding above here keeps immediate bulls in play fro fresh push higher and through 0.9706 to open 0.9720/30 area, then 0.9770, 61.8% Fibonacci retracement of 1.0064/0.9301. Break below 0.9500, however, would question bulls.


Res: 0.9664, 0.9706, 0.9720, 0.9730
Sup: 0.9623, 0.9608, 0.9551, 0.9515

 

[Mornington Crescent]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

Hi
I notice you cover some of the major pairs with your comments
but how about Dollar Index
Care to provide daily narrative on that ?

 

[WindsorBrokers]

Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

Hi Mornington Crescent,

Thank you for reading our posts, In the near future we will be providing analysis and overviews on several other major instruments.

If we get a significant amount of viewers asking about a Dollar Index narrative then I will try my best to have it provided,

Hope this answers your question,

Regards,

WB Representative

Hi
I notice you cover some of the major pairs with your comments
but how about Dollar Index
Care to provide daily narrative on that ?

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (15:00 GMT)

EUR/USD
Final push through key 1.2968 support has so far seen 1.2934, ahead of 1.2920/18, Aug/Sep 10 highs and 1.2795, 61.8% retracement of the broader 1.1875/1.4280 uptrend. Bounce higher is for now seen capped by 1.3054/80, while lift above 1.3130/70delays immediate bears.

Res: 1.3021, 1.3054, 1.3080, 1.3130
Sup: 1.2934, 1.2916, 1.2891, 1.2795

GBP/USD
Break below near-term supports at 1.5445/33 has so far found 1.5404, ahead of strong rally. Immediate targets lie at 1.5552/62 and break here required to delay near-term bears in favor of fresh strength and possible retest of key peaks at 1.5644/59, break of which will resume recovery from 1.5343. Failure under 1.5562, however, risks a lower top and renewed weakness through 1.5404 towards 1.5366/43.

Res: 1.5552, 1.5562, 1.5626, 1.5644
Sup: 1.5465, 1.5424, 1.5404, 1.5366

USD/JPY
Dipped back to 82.87 support after extending gains above 83.38 to peak at 83.67.
Fresh gains are under way, with break above the latter needed to resume the uptrend and target 83.90/84.17, possibly 84.34/49 on a break. Loss of 82.87, however, would trigger deeper correction towards 82.67/43, 50% and 61.8% of 81.67/83.67 ascend, where bulls should re-assert.

Res: 83.38, 83.67, 83.90, 84.19
Sup: 83.08, 82.87, 82.67, 82.43

USD/CHF
Extends correction off the latest high at 0.9706 below previous low to temporarily find support at 0.9594, ahead of rally. Clearance of 0.9706 is required to signal fresh leg higher, otherwise, we may see stronger correction, with 0.9551, 38.2% of 0.9301/0.9706 seen next. Upside, 0.9720/30 initial target on a break of 0.9706, ahead of 0.9770.


Res: 0.9689, 0.9706, 0.9720, 0.9730
Sup: 0.9614, 0.9608, 0.9594, 0.9551

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Losses through key short-term support at 1.2968 have been initially contained by 1.29 zone, with fresh weakness below here looking for further downside extension. Next target lies at 1.2828, 14 Sep10 low, ahead of 1.2702/1.2643 lows, where the latest upleg started. Oversold conditions, however, warn of correction, with 1.2968, now reverted to resistance, marks the initial barrier, ahead of 1.3020/54 zone.

Res: 1.2928, 1.2968, 1.3020, 1.3054
Sup: 1.2872, 1.2828, 1.2795, 1.2702

GBP/USD
Break below near-term supports at 1.5445/33 has so far found support at 1.5404, ahead of strong rally. Immediate targets at 1.5552/62 have been cleared, extending gains to 1.5578 so far, with scope for possible retest of key peaks at 1.5644/59, break of which will resume recovery from 1.5343. Key near-term support lies at 1.5404 and loss here would re-focus 1.5366/43.

Res: 1.5568, 1.5578, 1.5626, 1.5644
Sup: 1.5512, 1.5493, 1.5424, 1.5404

USD/JPY
Sharp reversal from 83.67, Friday’s peak has so far been contained by 82.84, previous low, with fresh strength required to clear 83.67 to resume the latest rally off 80.92, 03 Jan low, and open 83.90/84.19 next. Failure under 83.67 and loss of 82.84 would mark a near-term top and delay immediate bulls for stronger correction towards 82.62/30, 38.2% / 50% Fibonacci levels of 80.92/83.67 ascend.

Res: 83.25, 83.38, 83.67, 83.90
Sup: 82.82, 82.62, 82.30, 82.20

USD/CHF
Trades within narrow consolidative range after strong rally from 0.9301 historical low reached 0.9706 high. Immediate support lies at 0.9594, range low and holding above here keeps scope for fresh attempt through 0.9706 to extend correction towards 0.9720/30 and 0.9770 on a break. Loss of 0.9594, however, risks deeper reversal towards 0.9552, 38.2% of 0.9306/0.9706 upleg and 0.9531, 29 Dec 10 high.


Res: 0.9696, 0.9706, 0.9720, 0.9730
Sup: 0.9608, 0.9594, 0.9552, 0.9531

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Break key short-term support at 1.2968 has so far seen 1.2872 and this contains weakness for now, with market trading in a narrow range at 1.29 level. Sustained break lower would target 1.2828, 14 Sep10 low, ahead of 1.2702/1.2643 lows, where the latest upleg started. Upside, 1.2968 offers initial resistance, ahead of 1.3020/54 zone, break of which would signal fresh recovery.

Res: 1.2938, 1.2968, 1.3020, 1.3054
Sup: 1.2872, 1.2828, 1.2795, 1.2702

GBP/USD
Bounce off 1.5404 higher low reached 1.5578, ahead of sharp pullback. Fresh support was found at 1.5474, with renewed strength underway. Narrowing range is forming a triangle, with break through 1.5558/78 to signal possible attempt at 1.5644/59 peaks, while loss of 1.5415/04 opens 1.5366/43 instead.

Res: 1.5558, 1.5568, 1.5578, 1.5626
Sup: 1.5474, 1.5424, 1.5404, 1.5366

USD/JPY
Reversal from 83.67, Friday’s peak has so far been contained by 82.84, previous low, with fresh strength required to clear 83.67 to resume the latest rally off 80.92, 03 Jan low, and open 83.90/84.19 next. Failure to clear 83.67 and loss of 82.84 would mark a near-term top and delay immediate bulls for stronger correction towards 82.62/30, 38.2% / 50% Fibonacci levels of 80.92/83.67 ascend.

Res: 83.25, 83.38, 83.67, 83.90
Sup: 82.82, 82.62, 82.30, 82.20

USD/CHF
Trades within narrow consolidative range after strong rally from 0.9301 historical low reached 0.9706 high. Immediate support lies at 0.9594, range low and holding above here keeps scope for fresh attempt through 0.9706 to extend correction towards 0.9720/30 and 0.9770 on a break. Loss of 0.9594, however, risks deeper reversal towards 0.9552, 38.2% of 0.9306/0.9706 upleg and 0.9531, 29 Dec 10 high.


Res: 0.9696, 0.9706, 0.9720, 0.9730
Sup: 0.9608, 0.9594, 0.9552, 0.9531

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Found near-term support at 1.2872, ahead of minor bounce. First resistance at 1.2968 has been tested, though break above 1.3054/85, 23 Dec 10 low / 200 day MA is required to continue recovery. For now, focus remains to the downside, with break through 1.2872 to target 1.2795, 61.8% Fibonacci retracement of 1.1875/1.4280 ascend, ahead of 1.2702.

Res: 1.2968, 1.2988, 1.3020, 1.3054
Sup: 1.2910, 1.2872, 1.2828, 1.2795

GBP/USD
Rally from 1.5474 has briefly traded above 1.5578 previous high, testing 1.56 zone, ahead of pullback. This may signal further gains, while 1.5474 holds, with regain of 1.5659 required to open fresh phase up, to target 1.5692, 61.8% of 1.5910/1.5343 decline next. Loss of 1.5474 would delay for 1.5416/04, 200 day MA / 07 Jan higher low, and possible retest of 1.5366/43 area.

Res: 1.5578, 1.5601, 1.5626, 1.5644
Sup: 1.5500, 1.5474, 1.5424, 1.5404

USD/JPY
Extended reversal following an upside rejection at 83.67, breaking through 82.84 support to reach 82.67, just above 38.2% of 80.92/83.67 upleg. Fresh push higher is under way, with clearance of 83.27, yesterday’s high, needed to confirm higher low and re-focus 83.67. Break here to resume rally from 80.92 and open 83.90/84.19 next. Downside, loss of 82.67 would signal a deeper correction and risk 82.30/81.98, 50% / 61.8% retracement levels.

Res: 83.27, 83.38, 83.67, 83.90
Sup: 82.67, 82.62, 82.30, 82.20

USD/CHF
Narrow consolidation off 97.06, 06 Jan high, remains supported by 0.9594, with fresh attempt higher extending above 0.9706. Sustained break here is needed to signal an extension of recovery from 0.9301 and focus 0.9771, 61.8% Fibonacci retracement of 1.0064/0.9301 downleg, next. Only loss of 0.9594 would delay and allow for stronger pullback towards 0.9532/15.

Res: 0.9724, 0.9732, 0.9771, 0.9815
Sup: 0.9627, 0.9608, 0.9594, 0.9552

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Corrective attempt from 1.2872 remains capped by overnight’s high of 1.2988 for now. However, while 1.3085, 61.8% retracement of 1.3431/1.2872 downleg and 200 day MA holds, immediate scope remains for fresh weakness through 1.2872 to target 1.2795, possibly 1.2702 on a break.

Res: 1.2988, 1.3020, 1.3054, 1.3085
Sup: 1.2910, 1.2872, 1.2828, 1.2795

GBP/USD
Attempts towards the upper triangle limit at 1.5598 after finding fresh support at 1.5511 today. Near-term succession of higher lows keeps the upside in focus, with break through 1.5598 and 1.5644/59 needed to resume recovery phase off 1.5343. Immediate support lies at 1.5525/11, ahead of 1.5474 and key near-term support at 1.5404.

Res: 1.5601, 1.5626, 1.5644, 1.5659
Sup: 1.5554, 1.5526, 1.5511, 1.5474

USD/JPY
Extended reversal following an upside rejection at 83.67, breaking through 82.84 support to reach 82.67, just above 38.2% of 80.92/83.67 upleg. Fresh push higher is so far holding below 83.27, and failure to break higher would re-focus 82.67/62, break of which to open 82.30/81.98, 50% / 61.8% retracement of 80.92/83.67 ascend. Lift above 83.27, however, to attract 83.67 retest.

Res: 83.15, 83.27, 83.38, 83.67
Sup: 82.67, 82.62, 82.30, 82.20

USD/CHF
Narrow consolidation off 97.06, 06 Jan high, remains supported by 0.9594, with fresh attempts higher brieflyextending above 0.9706. Sustained break here is needed to signal an extension of recovery from 0.9301 and focus 0.9771, 61.8% Fibonacci retracement of 1.0064/0.9301 downleg, next. Only loss of 0.9594 would delay and allow for stronger pullback towards 0.9532/15.

Res: 0.9724, 0.9732, 0.9771, 0.9815
Sup: 0.9627, 0.9608, 0.9594, 0.9552

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Decline from 1.3431 has so far found support at 1.2872, with correction under way. Clearance of 1.3018 brings in focus 1.3085, key near-term resistance, 38.2% of 1.3431/1.2872 downleg and 200 day moving average. While holding below the latter, immediate focus remains on retest of 1.2872, break of which opens way towards 1.2702, short-term. Above 1.3085, would allow for stronger correction and expose 1.3150/1.3215, 50% / 61.8% respectively.

Res: 1.3018, 1.3054, 1.3085, 1.3150
Sup: 1.2993, 1.2943, 1.2904, 1.2872

GBP/USD
Break above near-term triangle pattern and test of key near-term resistance at 1.5659, increases hopes of further recovery from 1.5343, with immediate focus on 1.5692, 61.8% retracement of 1.5910/1.5343 downleg. Upside, 1.5910 remains key, with break here to signal higher low at 1.5343 and opens way for further retracement of 1.6297/1.5343 decline. Failure to clearly break through 1.5659, however, sours the tone .

Res: 1.5659, 1.5692, 1.5714, 1.5770
Sup: 1.5614, 1.5544, 1.5511, 1.5474

USD/JPY
Continues to trade in a consolidative mode after the pullback from 83.67 high found support at 82.67. Yesterday’s rejection at 83.48, just under 83.67 peak, warns of fresh weakness, with break under 82.67/62, yesterday’s low / 38.2% retracement of 80.92/83.67 upleg, needed to confirm and open 82.30, 50% / 04 Jan high, possibly 81.97, 61.8%, loss of which would signal an end of corrective phase from 80.92. Upside break through 83.48/67, however, resumes recovery and opens 83.90/84.19.

Res: 83.40, 83.48, 83.67, 83.90
Sup: 82.89, 82.67, 82.62, 82.30

USD/CHF
Maintains uptrend from 93.01 after reversal from 0.9706 found support at 0.9594 and fresh strength extended through 0.9706 to 0.9782 so far. This marks over 61.8% of 1.0064/0.9301 downleg, with immediate focus on 0.9850, 13 Dec 10 high and 0.9882, 76.4% retracement, then 0.9913, 08 Dec 10 high. Corrective pullbacks should be contained by 0.97 zone to keep immediate bulls in play, while loss of 0.9592 delays.

Res: 0.9782, 0.9815, 0.9850, 0.9882
Sup: 0.9725, 0.9700, 0.9658, 0.9594

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Strength off 1.2872 reached fresh high at 1.3044 today, ahead of reversal. This is seen corrective while 1.2940 holds, with break higher to focus key 1.3085 resistance, break of which opens 1.3150/1.3215. Loss of 1.2940, however, weakens the tone and focuses 1.2904/1.2872.

Res: 1.3018, 1.3044, 1.3054, 1.3085
Sup: 1.2960, 1.2943, 1.2904, 1.2872

GBP/USD
Break above near-term triangle pattern and brief break above key near-term resistance at 1.5659, increases hopes of further recovery from 1.5343, with immediate focus on 1.5692, 61.8% retracement of 1.5910/1.5343 downleg. Upside, 1.5910 remains key, with break here to signal higher low at 1.5343 and opens way for further retracement of 1.6297/1.5343 decline. Today’s rejection at 1.5680 has seen a drop to 1.5581, with fresh strength followed. Immediate scope is for renewed attempt through 1.5680, while 1.5511/1.5474 remains intact.

Res: 1.5659, 1.5692, 1.5714, 1.5770
Sup: 1.5581, 1.5511, 1.5474, 1.5424

USD/JPY
Continues to trade in a consolidative mode after the pullback from 83.67 high found support at 82.67. Yesterday’s rejection at 83.48, just under 83.67 peak, warns of fresh weakness, with break under 82.67/62, yesterday’s low / 38.2% retracement of 80.92/83.67 upleg, needed to confirm and open 82.30, 50% / 04 Jan high, possibly 81.97, 61.8%, loss of which would signal an end of corrective phase from 80.92. Upside break through 83.48/67, however, resumes recovery and opens 83.90/84.19.

Res: 83.48, 83.67, 83.90, 84.19
Sup: 82.89, 82.67, 82.62, 82.30

USD/CHF
Maintains uptrend from 93.01 after reversal from 0.9706 found support at 0.9594 and fresh strength extended through 0.9706 to 0.9782 so far. This marks over 61.8% of 1.0064/0.9301 downleg, with immediate focus on 0.9850, 13 Dec 10 high and 0.9882, 76.4% retracement, then 0.9913, 08 Dec 10 high. Corrective pullbacks should be contained by 0.97 zone to keep immediate bulls in play, while loss of 0.9592 delays.

Res: 0.9754, 0.9782, 0.9815, 0.9850
Sup: 0.9700, 0.9658, 0.9594, 0.9515