Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
Continues to trade within 1.3050/1.3150 range, with near-term price action moving towards the upper side of the range. Hourly studies keep slightly positive tone, with 4H chart studies improving. Break above strong barrier at 1.3165, where 55 day EMA limits the near-term recovery off 1.3032, is required to trigger fresh gains for test of next significant resistance zone at 1.3200/20, where 55/90 day MA’s and trendline resistance lie. Daily studies, still in the negative territory, keep the downside pressured with critical supports at 1.3000/1.2973, broader range floor, remaining in focus, as long as 1.3200 zone caps.

Res: 1.3156, 1.3163, 1.3191, 1.3200
Sup: 1.3105, 1.3092, 1.3065, 1.3050

GBP/USD
Near-term corrective phase off 1.5800 base, remains limited at 1.5930 zone, 50% retracement of 1.6061/1.5800 downleg, so far. Current test of range ceiling is supported with positive hourly/4H studies, with break higher to avert downside risk and open way towards 1.6000 zone. Loss of 1.5800 platform, however, would bring bears back in play.

Res: 1.5937, 1.5964, 1.6000, 1.6045
Sup: 1.5910, 1.5885, 1.5850, 1.5834

USD/JPY
Not much action seen after the pair tested our target at 80.57, as near-tern corrective bounce holds at 81.00 zone. Immediate barrier lies at 81.20 and with improving hourly studies, stronger correction through 81.20 towards 81.85/82.00 is not ruled out. However, negative outlook on larger timeframes keeps the downside favored, with 80.00 zone seen as next target, after 80.57 is cleared.

Res: 81.00, 81.20, 81.66, 81.85
Sup: 80.61, 80.43, 80.09, 80.00

USD/CHF
The pair trades in a neutral mode during the past few days, after the upside was capped at 0.9221. As studies on 4H chart are entering negative territory and brief break below range floor and 55 day EMA at 0.9144, keeps the downside vulnerable. Immediate downside targets lie at 0.9127, yesterday’s low, ahead of 0.9112 50% retracement, while loss of 0.9100 handle would confirm lower top at 0.9221 and re-focus 0.9000 base. On the upside, 0.9180/0.9200 offer good resistance and regain of these levels is required to bring bulls back in play.


Res: 0.9162, 0.9180, 0.9193, 0.9209
Sup: 0.9141, 0.9127, 0.9100, 0.9090

 

[WindsorBrokers]

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

EUR/USD
Continues to trade within 1.3050/1.3150 range, with near-term price action moving towards the upper side of the range. Hourly studies keep slightly positive tone, with 4H chart studies improving. Break above strong barrier at 1.3165, where 55 day EMA limits the near-term recovery off 1.3032, is required to trigger fresh gains for test of next significant resistance zone at 1.3200/20, where 55/90 day MA’s and trendline resistance lie. Daily studies, still in the negative territory, keep the downside pressured with critical supports at 1.3000/1.2973, broader range floor, remaining in focus, as long as 1.3200 zone caps.

Res: 1.3156, 1.3163, 1.3191, 1.3200
Sup: 1.3105, 1.3092, 1.3065, 1.3050

GBP/USD
Near-term corrective phase off 1.5800 base, remains limited at 1.5930 zone, 50% retracement of 1.6061/1.5800 downleg, so far. Current test of range ceiling is supported with positive hourly/4H studies, with break higher to avert downside risk and open way towards 1.6000 zone. Loss of 1.5800 platform, however, would bring bears back in play.

Res: 1.5937, 1.5964, 1.6000, 1.6045
Sup: 1.5910, 1.5885, 1.5850, 1.5834

USD/JPY
Not much action seen after the pair tested our target at 80.57, as near-tern corrective bounce holds at 81.00 zone. Immediate barrier lies at 81.20 and with improving hourly studies, stronger correction through 81.20 towards 81.85/82.00 is not ruled out. However, negative outlook on larger timeframes keeps the downside favored, with 80.00 zone seen as next target, after 80.57 is cleared.

Res: 81.00, 81.20, 81.66, 81.85
Sup: 80.61, 80.43, 80.09, 80.00

USD/CHF
The pair trades in a neutral mode during the past few days, after the upside was capped at 0.9221. As studies on 4H chart are entering negative territory and brief break below range floor and 55 day EMA at 0.9144, keeps the downside vulnerable. Immediate downside targets lie at 0.9127, yesterday’s low, ahead of 0.9112 50% retracement, while loss of 0.9100 handle would confirm lower top at 0.9221 and re-focus 0.9000 base. On the upside, 0.9180/0.9200 offer good resistance and regain of these levels is required to bring bulls back in play.


Res: 0.9162, 0.9180, 0.9193, 0.9209
Sup: 0.9141, 0.9127, 0.9100, 0.9090

 

[WindsorBrokers]

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

EUR/USD
The pair lost ground after upside action was capped at 1.3200 zone last week and fresh weakness broke below initial support at 1.3032, with today’s brief break below strong support at 1.3000, threatening of further weakness. Attempt through very strong support zone at 1.3000/1.2973, also med-term range floor and 1.2954, Fib 61.8% of 1.2622/1.3485 ascend, to open next significant support at 1.2875, 22 Jan 2012 / 09 Jan 2011 lows and signal an end of recovery phase off yearly low at 1.2622. Break below daily Ichimoku cloud confirms negative structure. Indicators on 4H chart hold below the midlines, while overextended conditions on hourly chart see potential for consolidative/corrective action, before fresh slide. Immediate barriers lie at 1.3032/52 zone, while only break above 1.3100, also 20 day EMA, would avert immediate downside risk. Key upside barriers lie at 1.3200/11, main bear trendline off 1.4246 / 12 Apr high.

Res: 1.3032, 1.3052, 1.3082, 1.3100
Sup: 1.3000, 1.2993, 1.2973, 1.2954

GBP/USD
Near-term outlook turned negative, as the upside rejection on approach to 1.6000 barrier and loss of 1.5900 handle, accelerated losses. Break through 200 day MA at 1.5841 and main bull trendline off 1.5233, yearly low, weakened the structure and reached 1.5817 low so far. This bring immediate focus at more significant support and short-term double bottom at 1.5800, below which to open 1.5769, 22 Mar low and 1.5745, Fib 38.2% of 1.5233/1.6061 ascend. Hourly RSI is emerging from oversold zone that may be signal for correction, as other indicators are at extremes on hourly chart. However, only regain of strong resistance at 1.5900 zone, would improve the near-term tone.

Res: 1.5846, 1.5858, 1.5885, 1.5900
Sup: 1.5817, 1.5800, 1.5769, 1.5745

USD/JPY
Resumes its short-term reversal off 84.17, yearly high, posted on 15 Mar, as near-term corrective action from 80.57, stayed capped by 20 day EMA at 81.00 zone. Fresh weakness and break below 80.57, risks further retracement of 76.00/84.17 rally, with 80.09, 50% and 80.00, 28 Feb low, seen next, ahead of another significant support at 79.52, Oct 2011 post-intervention peak, seen on a break. Daily studies remain firmly bearish, as MACD broke below the centerline. Near-term range limits at 80.70 and 81.18 offer good resistance and the latter is expected to cap any corrective attempts, to keep bears intact.

Res: 80.72, 81.00, 81.20, 81.66
Sup: 80.57, 80.44, 80.09, 80.00

USD/CHF
The pair’s strong rally off 0.9090, last week’s low, where reversal from 0.9221 peak found support, surged through strong resistance zone at 0.9200/21, to test the next barrier at 0.9250 so far. Break above bear-trendline off 0.9593, yearly high and 90 day MA at 0.9230, turns the outlook on daily chart into positive territory. Holding above 0.9221, keeps the focus at the upside, with next significant barriers standing at 0.9300, 16 Feb high and 0.9333, 15 Mar high / Fib 61.8% of 0.9593/0.8930 descend. Overextended conditions on hourly chart, however, warn of corrective reversal. Previous resistances at 0.9221/00, now offer initial support, while only loss of 0.9190/70 zone, would weaken the near-term structure.

Res: 0.9250, 0.9300, 0.9333, 0.9376
Sup: 0.9221, 0.9200, 0.9190, 0.9170

 

[WindsorBrokers]

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

EUR/USD
Bounce off yesterday’s fresh one-month low at 1.2993, when the pair tested the upper border of very strong 1.3000/1.2950 support zone, provided near-term relief. Extension from today’s higher low at 1.3090, broke above yesterday’s high at 1.3146 and dented trendline resistance at 1.3155, with sustained break here required to open way for test of next strong barrier at 1.3200/11, main bear-trendline off 1.4246 / 12 Apr high / 55 day MA and confirm near-term base at 1.2993. Hourly studies are positive, but approaching overbought territory, while indicators on 4H chart are attempting to break above midlines. Daily studies, however, are still in the negative zone and only firm break above 1.3200 barrier would signal an improvement.

Res: 1.3171, 1.3200, 1.3211, 1.3252
Sup: 1.3090, 1.3053, 1.3032, 1.3000

GBP/USD
The pair’s near-term price action moves in a steep uptrend, after very strong support at 1.5800 zone, also top of daily Ichimoku cloud, contained the latest slide off 1.5984, 12 Apr high. The third leg of recovery from 1.5817, yesterday’s low, started at 1.5861, today’s low, is approaching our key near-term resistance at 1.5984, above which to signal break above near-term range and re-focus 1.6061, yearly high of 02 Apr. Extended hourly studies may signal corrective action, preceding fresh rally, with initial support at 1.5900 zone, expected to protect the downside. Only loss of today’s low at 1.5861 weakens the structure and risks return to 1.5800 support zone.

Res: 1.5969, 1.5984, 1.6000, 1.6061
Sup: 1.5910, 1.5900, 1.5861, 1.5841

USD/JPY
The near-term consolidation above yesterday’s fresh low at 80.28, is seen as a pause in a broader downtrend off 84.17, yearly high, as short-term studies remain negative, as well as daily ones. As long as previous consolidation range ceiling at 81.18 stays intact, immediate focus will be at the downside, with targets at 80.00 and 79.52, in case 80.28 support gives way. Only lift above 81.18 would allow for stronger correction and open next barriers at 81.54 and 81.81.

Res: 80.72, 81.00, 81.20, 81.66
Sup: 80.28, 80.09, 80.00, 79.52

USD/CHF
Comes under increased pressure after yesterday’s failure to sustain gains above key barriers at 0.9220 zone, previous high / main bear trendline / 90 day MA, as fresh weakness broke below strong supports at 1.9150/40 zone. Immediate risk is seen on retesting main bull trendline off 0.9000 base, loss of which to open way towards very strong supports at 0.9000 and 0.8930, on a break. Overall negative tone on lower timeframes, keeps the downside pressured, while studies on a daily chart are moving sideways and holding around their midlines.

Res: 0.9180, 0.9200, 0.9221, 0.9250
Sup: 0.9120, 0.9100, 0.9090, 0.9069

 

[WindsorBrokers]

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

EUR/USD
Bounce off yesterday’s fresh one-month low at 1.2993, when the pair tested the upper border of very strong 1.3000/1.2950 support zone, provided near-term relief. Extension from today’s higher low at 1.3090, broke above yesterday’s high at 1.3146 and dented trendline resistance at 1.3155, with sustained break here required to open way for test of next strong barrier at 1.3200/11, main bear-trendline off 1.4246 / 12 Apr high / 55 day MA and confirm near-term base at 1.2993. Hourly studies are positive, but approaching overbought territory, while indicators on 4H chart are attempting to break above midlines. Daily studies, however, are still in the negative zone and only firm break above 1.3200 barrier would signal an improvement.

Res: 1.3171, 1.3200, 1.3211, 1.3252
Sup: 1.3090, 1.3053, 1.3032, 1.3000

GBP/USD
The pair’s near-term price action moves in a steep uptrend, after very strong support at 1.5800 zone, also top of daily Ichimoku cloud, contained the latest slide off 1.5984, 12 Apr high. The third leg of recovery from 1.5817, yesterday’s low, started at 1.5861, today’s low, is approaching our key near-term resistance at 1.5984, above which to signal break above near-term range and re-focus 1.6061, yearly high of 02 Apr. Extended hourly studies may signal corrective action, preceding fresh rally, with initial support at 1.5900 zone, expected to protect the downside. Only loss of today’s low at 1.5861 weakens the structure and risks return to 1.5800 support zone.

Res: 1.5969, 1.5984, 1.6000, 1.6061
Sup: 1.5910, 1.5900, 1.5861, 1.5841

USD/JPY
The near-term consolidation above yesterday’s fresh low at 80.28, is seen as a pause in a broader downtrend off 84.17, yearly high, as short-term studies remain negative, as well as daily ones. As long as previous consolidation range ceiling at 81.18 stays intact, immediate focus will be at the downside, with targets at 80.00 and 79.52, in case 80.28 support gives way. Only lift above 81.18 would allow for stronger correction and open next barriers at 81.54 and 81.81.

Res: 80.72, 81.00, 81.20, 81.66
Sup: 80.28, 80.09, 80.00, 79.52

USD/CHF
Comes under increased pressure after yesterday’s failure to sustain gains above key barriers at 0.9220 zone, previous high / main bear trendline / 90 day MA, as fresh weakness broke below strong supports at 1.9150/40 zone. Immediate risk is seen on retesting main bull trendline off 0.9000 base, loss of which to open way towards very strong supports at 0.9000 and 0.8930, on a break. Overall negative tone on lower timeframes, keeps the downside pressured, while studies on a daily chart are moving sideways and holding around their midlines.

Res: 0.9180, 0.9200, 0.9221, 0.9250
Sup: 0.9120, 0.9100, 0.9090, 0.9069

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
Short-term price action remains within 1.3000/1.3250 range, moving in a sideways mode and trading around 1.3100 handle for most of the time. Studies on lower timeframes hold neutral tone, with overnight’s trade being entrenched within 30-pips range. Immediate upside barriers lie at 1.3140 and 1.3170 and strong resistance at 1.3200, bear trendline / 55 day MA, capping the short-term action. Yesterday’s low at 1.3056 offers good support, ahead of key one at 1.3000. Release of data from Spain and US later today would likely trigger more action.

Res: 1.3140, 1.3171, 1.3200, 1.3211
Sup: 1.3104, 1.3090, 1.3056, 1.3032

GBP/USD
Maintains short-term bullish tone, after 200 day MA and main bull trendline off 1.5233, contained the recent dips. Fresh rally cleared initial barriers at 1.5980/1.6000 zone, heading north towards key barrier at 1.6061, yearly high of 02 Apr. Near-term studies remain positive, though, overextended conditions may signal corrective action. Previous resistances now offer immediate supports, while break above 1.6061opens next targets at 1.6090/1.6100, ahead of 1.6030/64.

Res: 1.6044, 1.6061, 1.6090, 1.6100
Sup: 1.6013, 1.6000, 1.5991, 1.5984

USD/JPY
Near-term recovery off 80.28, 16 Apr low, remains in play after the pair cleared initial hurdles at 81.00/18, to test the next one at 81.50 so far. Brief correction that followed was contained above 81.00, with renewed attempt higher required to break above 81.50, to resume rally and open the next barrier at 82.00. Loss of momentum on hourly chart warns of possible reversal, however, more positive tone is seen on 4-hour chart. Loss of 81.20/00 zone support, overnight’s low / 55 day EMA, would soften the near-term tone.

Res: 81.55, 81.82, 82.00, 82.54
Sup: 81.32, 81.15, 81.00, 80.82

USD/CHF
Failure at 0.9250 on 16 Apr, and yesterday’s upside rejection at 0.9208, keep the upside limited for now, with bear-trendline from 0.9593 capping, as hourly studies start to point lower. Immediate support at 0.9150, near-term range lows and main bull trendline off 0.9000 base, comes under pressure and break here to weaken the structure and open next supports at 0.9120/00 area.

Res: 0.9173, 0.9208, 0.9221, 0.9250
Sup: 0.9150, 0.9120, 0.9100, 0.9090

 

[WindsorBrokers]

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

EUR/USD
Short-term price action remains within 1.3000/1.3250 range, moving in a sideways mode and trading around 1.3100 handle for most of the time. Studies on lower timeframes hold neutral tone, with overnight’s trade being entrenched within 30-pips range. Immediate upside barriers lie at 1.3140 and 1.3170 and strong resistance at 1.3200, bear trendline / 55 day MA, capping the short-term action. Yesterday’s low at 1.3056 offers good support, ahead of key one at 1.3000. Release of data from Spain and US later today would likely trigger more action.

Res: 1.3140, 1.3171, 1.3200, 1.3211
Sup: 1.3104, 1.3090, 1.3056, 1.3032

GBP/USD
Maintains short-term bullish tone, after 200 day MA and main bull trendline off 1.5233, contained the recent dips. Fresh rally cleared initial barriers at 1.5980/1.6000 zone, heading north towards key barrier at 1.6061, yearly high of 02 Apr. Near-term studies remain positive, though, overextended conditions may signal corrective action. Previous resistances now offer immediate supports, while break above 1.6061opens next targets at 1.6090/1.6100, ahead of 1.6030/64.

Res: 1.6044, 1.6061, 1.6090, 1.6100
Sup: 1.6013, 1.6000, 1.5991, 1.5984

USD/JPY
Near-term recovery off 80.28, 16 Apr low, remains in play after the pair cleared initial hurdles at 81.00/18, to test the next one at 81.50 so far. Brief correction that followed was contained above 81.00, with renewed attempt higher required to break above 81.50, to resume rally and open the next barrier at 82.00. Loss of momentum on hourly chart warns of possible reversal, however, more positive tone is seen on 4-hour chart. Loss of 81.20/00 zone support, overnight’s low / 55 day EMA, would soften the near-term tone.

Res: 81.55, 81.82, 82.00, 82.54
Sup: 81.32, 81.15, 81.00, 80.82

USD/CHF
Failure at 0.9250 on 16 Apr, and yesterday’s upside rejection at 0.9208, keep the upside limited for now, with bear-trendline from 0.9593 capping, as hourly studies start to point lower. Immediate support at 0.9150, near-term range lows and main bull trendline off 0.9000 base, comes under pressure and break here to weaken the structure and open next supports at 0.9120/00 area.

Res: 0.9173, 0.9208, 0.9221, 0.9250
Sup: 0.9150, 0.9120, 0.9100, 0.9090

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
The pair starts the week at the back foot, following last week’s strong gains off 1.3000 base that slightly exceeded previous peak at 1.3211. Overnight’s gap lower opening sees potential of corrective action, as hourly studies are pointing lower. Initial supports lie at 1.3170/60, ahead of 1.3140 zone where 55day EMA and Fib 38.2% of 1.2993/1.3223 ascend should contain dips to keep bullish short-term structure intact. Only loss of 1.3110, 90 day MA and 1.3100, figure support, would weaken the structure. Immediate resistance lies at 1.3223, last Friday’s peak, ahead of 1.3235, Fib 61.8% of 1.3385/1.2993 descend and 1.3250/77, 29 Mar / 02 Apr lows.

Res: 1.3200, 1.3211, 1.3223, 1.3235
Sup: 1.3170, 1.3160, 1.3140, 1.3120

GBP/USD
Remains in a steady uptrend from last week’s low at 1.5817, with fresh high posted last Friday at 1.6142. Daily structure remains bullish, focusing the next target and strong resistance at 1.6164, 31 Oct 2011 high and Fib 61.8% of longer-term descend from 1.6745, 2011 peak, to 1.5233, low of 2012. Overextended studies on 4H chart, however, would signal corrective pullback, with initial support at 1.6100, coming under pressure, ahead of 1.6061, previous high / 20 day EMA. Loss of breakpoint at 1.6000 would turn focus lower.

Res: 1.6142, 1.6164, 1.6200, 1.6223
Sup: 1.6100, 1.6061, 1.6037, 1.6008

USD/JPY
The near-term structure weakens as the pair, unable to clear 81.80, bear-trendline off 84.08 high, breaks below past few day’s range floor at 81.40. Hourly studies are below their midlines, with 4H chart ones, pointing lower. Immediate focus lies at 81.00 zone, also 50% of 80.28/81.77 upleg, below which to confirm lower top, ahead of possible return to 80.28, last week’s low. Initial barriers lie at 81.40/65, while only break above 81.74/77, trendline resistance / previous peak would signal an extension of short-term bulls from 80.28.

Res: 81.40, 81.65, 81.77, 82.00
Sup: 81.16, 81.00, 80.85, 80.28

USD/CHF
Maintains negative short-term tone off last weeks’ peak at 0.9250, with break below 0.9100 zone, short-term range floor / Fib 61.8%, further weakening the structure. Today’s gap higher opening, with hourly studies emerging from their extremes, sees potential for stronger corrective action, with initial resistance at 0.9125 being tested so far. Trendline resistance at 0.9156, comes next and only sustained break here to avert immediate downside risk, as studies on 4H chart remain negative. Daily indicators are still holding neutral tone.

Res: 0.9134, 0.9156, 0.9173, 0.9194
Sup: 0.9100, 0.9090, 0.9084, 0.9069

 

[WindsorBrokers]

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

EUR/USD
The pair starts the week at the back foot, following last week’s strong gains off 1.3000 base that slightly exceeded previous peak at 1.3211. Overnight’s gap lower opening sees potential of corrective action, as hourly studies are pointing lower. Initial supports lie at 1.3170/60, ahead of 1.3140 zone where 55day EMA and Fib 38.2% of 1.2993/1.3223 ascend should contain dips to keep bullish short-term structure intact. Only loss of 1.3110, 90 day MA and 1.3100, figure support, would weaken the structure. Immediate resistance lies at 1.3223, last Friday’s peak, ahead of 1.3235, Fib 61.8% of 1.3385/1.2993 descend and 1.3250/77, 29 Mar / 02 Apr lows.

Res: 1.3200, 1.3211, 1.3223, 1.3235
Sup: 1.3170, 1.3160, 1.3140, 1.3120

GBP/USD
Remains in a steady uptrend from last week’s low at 1.5817, with fresh high posted last Friday at 1.6142. Daily structure remains bullish, focusing the next target and strong resistance at 1.6164, 31 Oct 2011 high and Fib 61.8% of longer-term descend from 1.6745, 2011 peak, to 1.5233, low of 2012. Overextended studies on 4H chart, however, would signal corrective pullback, with initial support at 1.6100, coming under pressure, ahead of 1.6061, previous high / 20 day EMA. Loss of breakpoint at 1.6000 would turn focus lower.

Res: 1.6142, 1.6164, 1.6200, 1.6223
Sup: 1.6100, 1.6061, 1.6037, 1.6008

USD/JPY
The near-term structure weakens as the pair, unable to clear 81.80, bear-trendline off 84.08 high, breaks below past few day’s range floor at 81.40. Hourly studies are below their midlines, with 4H chart ones, pointing lower. Immediate focus lies at 81.00 zone, also 50% of 80.28/81.77 upleg, below which to confirm lower top, ahead of possible return to 80.28, last week’s low. Initial barriers lie at 81.40/65, while only break above 81.74/77, trendline resistance / previous peak would signal an extension of short-term bulls from 80.28.

Res: 81.40, 81.65, 81.77, 82.00
Sup: 81.16, 81.00, 80.85, 80.28

USD/CHF
Maintains negative short-term tone off last weeks’ peak at 0.9250, with break below 0.9100 zone, short-term range floor / Fib 61.8%, further weakening the structure. Today’s gap higher opening, with hourly studies emerging from their extremes, sees potential for stronger corrective action, with initial resistance at 0.9125 being tested so far. Trendline resistance at 0.9156, comes next and only sustained break here to avert immediate downside risk, as studies on 4H chart remain negative. Daily indicators are still holding neutral tone.

Res: 0.9134, 0.9156, 0.9173, 0.9194
Sup: 0.9100, 0.9090, 0.9084, 0.9069

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
Returns to 1.3150, previous support, after reversal from Friday’s peak at 1.3223, found support at 1.3100 zone, also 50% retracement of 1.2993/1.3223 upleg. Overnight’s trading was moving within very narrow range and in a sideways mode. Fresh momentum on hourly chart sees potential for break higher, as price holds above hourly 20/55 day EMA’s, with immediate resistance at 1.3170 zone, previous highs / Fib 61.8% of the latest fall, break of which to confirm higher low and re-focus key near-term hurdle at 1.3223. Still weak picture on a daily chart sees 1.3200/23 zone as strong barriers, as the price action remains trapped between 55 day MA on the upside and 90 day MA on the downside, currently at 1.3200 and 1.3113, respectively.

Res: 1.3170, 1.3180, 1.3200, 1.3223
Sup: 1.3144, 1.3100, 1.3068, 1.3056

GBP/USD
Near-term price action holds neutral tone, as the pair continues to consolidate under last Friday’s high at 1.6142, with downside being protected at 1.6075, yesterday’s low. Extended studies on 4-hour chart, reduce possibilities of break higher, with risk seen for stronger correction, in case initial support zone at 1.6075/61, gives way. Significant supports lie at 1.6010 zone, 19 Apr low / Fib 38.2% of 1.5817/1.6142 / 55 day EMA. On the upside, clearance of 1.6142, opens very strong barrier at 1.6164, 31 Oct 2011 high / Fib 61.8% of 1.6745/1.5233 longer-term descend, for test.

Res: 1.6126, 1.6142, 1.6164, 1.6200
Sup: 1.6075, 1.6061, 1.6020, 1.6008

USD/JPY
Continues to trend lower after recovery rally from 80.28 was capped just under bear-trendline from 84.08. Loss of 81.00 handle has so far tested 80.85, Fib 61.8% of 80.28/81.77 rally, with negative near-term outlook, keeping the downside favored for now. Immediate target lies at 80.57, ahead of key short-term support at 80.28, loss of which would signal an extension of broader reversal from 84.17, 15 Mar annual high and open next targets at 80.00 and 79.52. Strong hourly resistance lies at 81.20, overnight’s high / 55 day EMA and only lift above here would avert immediate downside risk. However, regain of 81.67/77, trendline resistance / 20 Apr high, provides relief.

Res: 81.00, 81.25, 81.40, 81.67
Sup: 80.85, 80.57, 80.28, 80.09

USD/CHF
Maintains negative short-term tone off 0.9250 peak, following yesterday’s false break above main bear-trendline, drawn off 0.9250. Reversal under the trendline and break below overnight’s range floor at 0.9130, risks retest of key short-term support zone at 0.9100/0.9080, lows of 12 and 20 Apr, as well as Fib 61.8% of 0.9000/0.9250 upleg. Break here to open way for fresh leg lower and expose 0.9000. Initial resistance lies at 0.9140, while only break above 0.9170, yesterday’s high, would improve the short-term structure.

Res: 0.9140, 0.9150, 0.9170, 0.9187
Sup: 0.9113, 0.9100, 0.9090, 0.9084

 

[WindsorBrokers]

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

EUR/USD
Returns to 1.3150, previous support, after reversal from Friday’s peak at 1.3223, found support at 1.3100 zone, also 50% retracement of 1.2993/1.3223 upleg. Overnight’s trading was moving within very narrow range and in a sideways mode. Fresh momentum on hourly chart sees potential for break higher, as price holds above hourly 20/55 day EMA’s, with immediate resistance at 1.3170 zone, previous highs / Fib 61.8% of the latest fall, break of which to confirm higher low and re-focus key near-term hurdle at 1.3223. Still weak picture on a daily chart sees 1.3200/23 zone as strong barriers, as the price action remains trapped between 55 day MA on the upside and 90 day MA on the downside, currently at 1.3200 and 1.3113, respectively.

Res: 1.3170, 1.3180, 1.3200, 1.3223
Sup: 1.3144, 1.3100, 1.3068, 1.3056

GBP/USD
Near-term price action holds neutral tone, as the pair continues to consolidate under last Friday’s high at 1.6142, with downside being protected at 1.6075, yesterday’s low. Extended studies on 4-hour chart, reduce possibilities of break higher, with risk seen for stronger correction, in case initial support zone at 1.6075/61, gives way. Significant supports lie at 1.6010 zone, 19 Apr low / Fib 38.2% of 1.5817/1.6142 / 55 day EMA. On the upside, clearance of 1.6142, opens very strong barrier at 1.6164, 31 Oct 2011 high / Fib 61.8% of 1.6745/1.5233 longer-term descend, for test.

Res: 1.6126, 1.6142, 1.6164, 1.6200
Sup: 1.6075, 1.6061, 1.6020, 1.6008

USD/JPY
Continues to trend lower after recovery rally from 80.28 was capped just under bear-trendline from 84.08. Loss of 81.00 handle has so far tested 80.85, Fib 61.8% of 80.28/81.77 rally, with negative near-term outlook, keeping the downside favored for now. Immediate target lies at 80.57, ahead of key short-term support at 80.28, loss of which would signal an extension of broader reversal from 84.17, 15 Mar annual high and open next targets at 80.00 and 79.52. Strong hourly resistance lies at 81.20, overnight’s high / 55 day EMA and only lift above here would avert immediate downside risk. However, regain of 81.67/77, trendline resistance / 20 Apr high, provides relief.

Res: 81.00, 81.25, 81.40, 81.67
Sup: 80.85, 80.57, 80.28, 80.09

USD/CHF
Maintains negative short-term tone off 0.9250 peak, following yesterday’s false break above main bear-trendline, drawn off 0.9250. Reversal under the trendline and break below overnight’s range floor at 0.9130, risks retest of key short-term support zone at 0.9100/0.9080, lows of 12 and 20 Apr, as well as Fib 61.8% of 0.9000/0.9250 upleg. Break here to open way for fresh leg lower and expose 0.9000. Initial resistance lies at 0.9140, while only break above 0.9170, yesterday’s high, would improve the short-term structure.

Res: 0.9140, 0.9150, 0.9170, 0.9187
Sup: 0.9113, 0.9100, 0.9090, 0.9084

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
The near-term price action off yesterday’s fresh high at 1.3217 remains supported by daily Ichimoku cloud top and hourly 20 day EMA at 1.3185, for now. Positive short-term structure keeps the upside favored, with clearance of barriers at 1.3223/32, 20 Apr high / Fib 61.8%, required to resume short-term recovery phase off 1.2993 and expose 1.3250/77, next upside targets. Strong support at 1.3150 zone needs to hold the downside, to prevent further slide towards 1.3100.

Res: 1.3205, 1.3217, 1.3223, 1.3252
Sup: 1.3185, 1.3150, 1.3100, 1.3068

GBP/USD
Holds near-term sideways mode, following yesterday’s test of strong resistance at 1.6164. Overnight’s price action was trapped within very narrow range, holding above floor at 1.6120. More significant supports lie at 1.6100/1.6075, 20 day EMA / 23 Apr low and only break here would put upside on hold in favor of stronger correction. While daily studies maintain strong bullish tone, lower timeframes studies, still in the positive territory, started to point lower.

Res: 1.6149, 1.6164, 1.6200, 1.6250
Sup: 1.6125, 1.6108, 1.6090, 1.6075

USD/JPY
Extension of near-term recovery attempt from 80.85, yesterday’s low, faces very strong resistance and breakpoint at 81.58/77 zone, trendline resistance / 20 Apr high / / Fib 38.2% of 84.17/80.28, with break above these levels required to resume short-term recovery off 80.28, 16 Apr low. Still weak studies on 4H chart keep the downside vulnerable. Initial support at 81.25, 55 day EMA, holds for now, with break lower to open 81.00 and 80.85.

Res: 81.25, 81.40, 81.67, 81.77
Sup: 81.25, 81.00, 80.85, 80.57

USD/CHF
Consolidation above yesterday’s low at 0.9089, just ahead of very strong support at 0.9084, was limited just above 0.9100, holding the overall negative tone in play. As the price action continues to move under bear-trendline off 0.9250, with negative near-term studies, likely scenario would be a break below 0.9084 that will open way towards triangle support at 0.9043 and next very strong support and higher base at 0.9000. On the upside, 0.9120, trendline resistance / 55 day EMA, offer strong barrier, ahead of 0.9140 and 0.9170, with break of the latter to sideline bears.

Res: 0.9114, 0.9140, 0.9156, 0.9170
Sup: 0.9089, 0.9084, 0.9069, 0.9040

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
Maintains positive short-term tone, after yesterday’s dip found support just above bull trendline off 1.2993, at 1.3172. Fresh strength, supported by dollar negative Fed’s data, posted marginally new 3-week high at 1.3235, testing double-Fibonacci barrier at 1.3230/40 zone, Fib 61.8% of 1.3380/1.2993 and Fib 38.2% of 1.4246/1.2622. Hourly studies move sideways, while fresh momentum on daily chart, along with break above 55 day MA, keeps the pair supported for possible attempt towards 1.3252/77 and more significant 1.3300, psychological barrier. On the downside, 1.3170/50 zone offers good support, with break here to weaken short-term structure.

Res: 1.3235, 1.3252, 1.3277, 1.3300
Sup: 1.3215, 1.3200, 1.3172, 1.3150

GBP/USD
The pair continues to trend higher, following near-term consolidation that was contained at 1.6075, higher platform. Break above 1.6164 barrier, 30 Oct 2011 high and Fib 61.8% of 1.6745/1.5233, longer-term descend, opens way towards 1.6200 initially, ahead of 1.6300/88, 31 Oct 2010 high / Fib 76.4%. Previous barrier at 1.6164, now offers initial support, while only loss of 1.6075 would delay. Hourly studies remain supportive, however, MACD bearish divergence and loss of momentum, seen on 4H chart, may indicate possible upside failure.

Res: 1.6200, 1.6250, 1.6300, 1.6388
Sup: 1.6164, 1.6125, 1.6100, 1.6080

USD/JPY
Remains under pressure, after failure to sustain gains above main bear trendline and upside rejection under initial target at 81.77, pushed the price below the trendline, currently hovering around higher platform at 81.00 zone. Negative tone continues to dominate on a lower timeframes and keeps the near-term focus lower. As long as 81.77 stays intact, potential retest of higher low at 80.85 and possible extension towards key short-term support at 80.28, remains in play.

Res: 81.25, 81.40, 81.67, 81.77
Sup: 81.06, 81.00, 80.85, 80.57

USD/CHF
Negative short-term sentiment continues to drive the pair lower, as yesterday’s unsuccessful attempt through bear-trendline off 0.9250, triggered fresh weakness that briefly broke below our key near-term supports at 0.9090/84. This open way for possible return to strong support at 0.9000, 02/03 Apr low, with trendline support at 0.9043, coming first. Short-term studies remain negative, with daily ones attempting to break below the centrelines.

Res: 0.9090, 0.9120, 0.9140, 0.9170
Sup: 0.9074, 0.9069, 0.9043, 0.9000

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.

Res: 1.3269, 1.3277, 1.3300, 1.3366
Sup: 1.3229, 1.3211, 1.3200, 1.3157

GBP/USD
Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, initial resistance, with clear break here to expose 1.6388, Fib 76.4% of longer-term 1.6745/1.5233 descend. However, overextended conditions on lower timeframes, see risk of corrective pullback. Initial supports lie at 1.6263/28, while strong support at 1.6200 zone is expected to contain.

Res: 1.6300, 1.6350, 1.6388, 1.6400
Sup: 1.6263, 1.6253, 1.6228, 1.6205

USD/JPY
Remains under strong pressure after upside rejection at 81.77/68, with loss of previous low at 80.28, confirming lower top at 81.77 and extension of broader downtrend from 84.17, annual high. The pair is currently testing 80.00 zone, 50% of 76.00/84.17 and daily Ichimoku cloud base, loss of which to open next support at 79.52, Oct 2011 post-intervention peak. Negative near-term studies keep the downside in focus, however, overextended hourlies, see potential for corrective bounce. Previous low and overnight’s high at 80.28/38, offer initial resistance, with regain of 81.00, 55 day EMA, required to ease bear-pressure and allow for stronger correction.

Res: 80.28, 80.38, 80.50, 80.74
Sup: 80.07, 80.00, 79.52, 79.00

USD/CHF
Continues to trend lower after losing important support at 0.9100 zone. Last Friday’s upside rejection at trendline resistance at 0.9130 and sharp fall to 0.9050 so far, keeps our next target at 0.9000 in focus. Any bounce higher would be seen as corrective, while only clearance of 0.9130 barrier provides near-term relief. Short-term studies hold negative tone, as the pair attacks daily triangle support at 0.9050.

Res: 0.9077, 0.9100, 0.9130, 0.9170
Sup: 0.9050, 0.9015, 0.9000, 0.8930

 

[WindsorBrokers]

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

EUR/USD
No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.

Res: 1.3269, 1.3277, 1.3300, 1.3366
Sup: 1.3229, 1.3211, 1.3200, 1.3157

GBP/USD
Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, initial resistance, with clear break here to expose 1.6388, Fib 76.4% of longer-term 1.6745/1.5233 descend. However, overextended conditions on lower timeframes, see risk of corrective pullback. Initial supports lie at 1.6263/28, while strong support at 1.6200 zone is expected to contain.

Res: 1.6300, 1.6350, 1.6388, 1.6400
Sup: 1.6263, 1.6253, 1.6228, 1.6205

USD/JPY
Remains under strong pressure after upside rejection at 81.77/68, with loss of previous low at 80.28, confirming lower top at 81.77 and extension of broader downtrend from 84.17, annual high. The pair is currently testing 80.00 zone, 50% of 76.00/84.17 and daily Ichimoku cloud base, loss of which to open next support at 79.52, Oct 2011 post-intervention peak. Negative near-term studies keep the downside in focus, however, overextended hourlies, see potential for corrective bounce. Previous low and overnight’s high at 80.28/38, offer initial resistance, with regain of 81.00, 55 day EMA, required to ease bear-pressure and allow for stronger correction.

Res: 80.28, 80.38, 80.50, 80.74
Sup: 80.07, 80.00, 79.52, 79.00

USD/CHF
Continues to trend lower after losing important support at 0.9100 zone. Last Friday’s upside rejection at trendline resistance at 0.9130 and sharp fall to 0.9050 so far, keeps our next target at 0.9000 in focus. Any bounce higher would be seen as corrective, while only clearance of 0.9130 barrier provides near-term relief. Short-term studies hold negative tone, as the pair attacks daily triangle support at 0.9050.

Res: 0.9077, 0.9100, 0.9130, 0.9170
Sup: 0.9050, 0.9015, 0.9000, 0.8930

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:45 GMT)

EUR/USD
The single currency extends its near-term weakness off 1.3282, yesterday’s high, where short-term rally was limited, just ahead of key barrier at 1.3290/1.3300. Brief consolidation above initial support at 1.3200, was short-lived, as more negative data from Eurozone, increased pressure on that pair. Near-term studies weakened further, as the price broke below 1.3200/1.3172 supports, with immediate focus at 1.3157, 27 Apr low and 1.3138, 50% retracement of 1.2993/1.3282 upleg, ahead of more significant support at 1.3100, 23 Apr low / Fib 61.8%. Previous support at 1.3200, now reverts to initial resistance.

Res: 1.3200, 1.3232, 1.3243, 1.3269
Sup: 1.3157, 1.3138, 1.3123, 1.3100

GBP/USD
Commences the third leg of reversal from 1.6300, 30 Apr fresh 8-month high, after initial attempt to create base at 1.6200 zone failed and recovery attempt being capped at 1.6240 zone. Fresh weakness tests lower levels of 1.6200/1.6185 support zone, with break here to expose next support, at 1.6152, 27 Apr low / 55 day EMA and Fibonacci 38.2%level at 1.6115. Negative tone on near-term studies keeps the downside favored for now and only lift above 1.6250 would improve and avert immediate downside risk. Daily studies, close to extreme points, see risk of stronger reversal.

Res: 1.6234, 1.6250, 1.6300, 1.6350
Sup: 1.6185, 1.6152, 1.6115, 1.6100

USD/JPY
Yesterday’s bounce off 79.63 fresh 6-month low and 90 day MA, averted immediate downside risk and improved the near-term structure, as price broke above initial barriers at 80.00 and 80.28. However, this is still seen as corrective movement, as larger picture remains firmly bearish. While the price holds below next strong barriers, round figure resistance at 81.00 and main bear-trendline off 84.08 high, at 81.15, risk of further retracement of 76.00/84.17 rally still exists

Res: 80.65, 80.85, 81.00, 81.20
Sup: 80.25, 80.00, 79.63, 79.52

USD/CHF
The pair remains in a near-term bullish mode, as fresh rally off 0.9070 zone, overnight’s lows and consolidation floor, surged through initial barrier at 0.9100. Gains have so far retraced 38.2% of 0.9250/0.9041 descend, testing breakpoint zone at 0.9120/30, also daily triangle resistance, clearance of which to signal stronger recovery and expose 0.9170, 23 Apr high / Fib 61.8%. Positive tone on near-term studies, sees the pair near-term price action supported, however, overextended conditions on hourly chart, suggest a pause in recent strong gains.

Res: 0.9130, 0.9145, 0.9170, 0.9200
Sup: 0.9100, 0.9072, 0.9050, 0.9041

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
Failure to reclaim key barrier at 1.3300 has resulted in steep decline that so far retraced over 50% of 1.2993/1.3282 upleg. Temporary support was found at 1.3120, 90 day MA, with subsequent recovery attempt so far unable to clear the initial barrier at 1.3160, increasing risk of test of strong support zone at 1.3100, 23 Apr low / Fib 61.8% and possible extension lower, as near-term studies remain negative. Break below 1.3100 to open 1.3060 and 1.3032 static supports. On the upside, yesterday’s intraday high and recovery top, offers initial resistance, while 1.3200 zone, 01 May low / 20/55 day EMA crossover, is expected to cap.

Res: 1.3157, 1.3166, 1.3200, 1.3232
Sup: 1.3121, 1.3100, 1.3068, 1.3056

GBP/USD
Remains under pressure, after losing initial support at 1.6200, with recovery attempt of 1.6159, yesterday’s fresh low, being capped at 1.6200, now acting as initial resistance, along with bear trendline connecting 1.6300 and 1.6237 peaks. Negative tone continues to dominate on short-term studies, with break below initial support at 1.6159, also 55 day EMA, to open way for further retracement and expose Fib 38.2% at 1.6115, ahead of figure support at 1.6100 and key short-term support and pivotal point at 1.6080/60 area. Bears remain intact as long as 1.6200 trendline resistance and 20 day EMA limit the upside, while only regain of 1.6250 would turn near-term focus higher.

Res: 1.6200, 1.6237, 1.6250, 1.6300
Sup: 1.6159, 1.6115, 1.6100, 1.6080

USD/JPY
Near-term recovery off fresh low at 79.63, seems to be running out of steam, as gains were limited at initial resistance at 80.60. Dips are holding above 80.00 for now, however, weakening hourly studies, see risk of fresh weakness, unless initial barrier at 80.60, also 55 day EMA is cleared, with regain of minimum 81.00, required to confirm recovery. Daily structure holds bearish tone and sees potential for further retracement of 76.00/84.17 ascend.

Res: 80.60, 80.85, 81.00, 81.20
Sup: 80.00, 79.63, 79.52, 79.00

USD/CHF
Extension of near-term recovery from 0.9041, 01 May low, broke above initial barrier at 0.9100, also triangle resistance to retrace over 50% of 0.9250/0.9041 downleg so far. With the recent corrective pullback being held above 0.9100 and positive near-term studies, further recovery towards 0.9170, Fib 61.8% and possible regain of next hurdle at 0.9200, break of which is required to re-focus 0.9250 peak. On the downside, loss of 0.9120/00 would be bearish.

Res: 0.9145, 0.9155, 0.9170, 0.9200
Sup: 0.9120, 0.9100, 0.9072, 0.9050

 

[WindsorBrokers]

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

EUR/USD
Failure to reclaim key barrier at 1.3300 has resulted in steep decline that so far retraced over 50% of 1.2993/1.3282 upleg. Temporary support was found at 1.3120, 90 day MA, with subsequent recovery attempt so far unable to clear the initial barrier at 1.3160, increasing risk of test of strong support zone at 1.3100, 23 Apr low / Fib 61.8% and possible extension lower, as near-term studies remain negative. Break below 1.3100 to open 1.3060 and 1.3032 static supports. On the upside, yesterday’s intraday high and recovery top, offers initial resistance, while 1.3200 zone, 01 May low / 20/55 day EMA crossover, is expected to cap.

Res: 1.3157, 1.3166, 1.3200, 1.3232
Sup: 1.3121, 1.3100, 1.3068, 1.3056

GBP/USD
Remains under pressure, after losing initial support at 1.6200, with recovery attempt of 1.6159, yesterday’s fresh low, being capped at 1.6200, now acting as initial resistance, along with bear trendline connecting 1.6300 and 1.6237 peaks. Negative tone continues to dominate on short-term studies, with break below initial support at 1.6159, also 55 day EMA, to open way for further retracement and expose Fib 38.2% at 1.6115, ahead of figure support at 1.6100 and key short-term support and pivotal point at 1.6080/60 area. Bears remain intact as long as 1.6200 trendline resistance and 20 day EMA limit the upside, while only regain of 1.6250 would turn near-term focus higher.

Res: 1.6200, 1.6237, 1.6250, 1.6300
Sup: 1.6159, 1.6115, 1.6100, 1.6080

USD/JPY
Near-term recovery off fresh low at 79.63, seems to be running out of steam, as gains were limited at initial resistance at 80.60. Dips are holding above 80.00 for now, however, weakening hourly studies, see risk of fresh weakness, unless initial barrier at 80.60, also 55 day EMA is cleared, with regain of minimum 81.00, required to confirm recovery. Daily structure holds bearish tone and sees potential for further retracement of 76.00/84.17 ascend.

Res: 80.60, 80.85, 81.00, 81.20
Sup: 80.00, 79.63, 79.52, 79.00

USD/CHF
Extension of near-term recovery from 0.9041, 01 May low, broke above initial barrier at 0.9100, also triangle resistance to retrace over 50% of 0.9250/0.9041 downleg so far. With the recent corrective pullback being held above 0.9100 and positive near-term studies, further recovery towards 0.9170, Fib 61.8% and possible regain of next hurdle at 0.9200, break of which is required to re-focus 0.9250 peak. On the downside, loss of 0.9120/00 would be bearish.

Res: 0.9145, 0.9155, 0.9170, 0.9200
Sup: 0.9120, 0.9100, 0.9072, 0.9050

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:00 GMT)

EUR/USD
The pair extends the last week’s weakness off 1.3282 high, with break below initial support at 1.3100, seen last Friday and overnight’s gap lower opening. Test of lower boundary of very strong support zone at 1.3000/1.2950, Mar/Apr lows / Fib 61.8% of 1.2622/1.3485 ascend, weakens the larger picture’s structure, with clear break below 1.2950, expected to accelerate losses towards 1.2900, figure support and 1.2875, 09 Jan 2011 / 23 Jan 2012 lows. Overextended short-term studies see potential for bounce higher, with initial barriers at 1.3030 and 1.3080, with 1.3155, 55 day EMA and double-top at 1.3180, capping the upside.

Res: 1.3030, 1.3080, 1.3100, 1.3155
Sup: 1.2952, 1.2930, 1.2900, 1.2875

GBP/USD
Cable dipped to 1.6115, Fib 38.2% of 1.5817/1.6300 upleg, after losing last week’s range floor and 55 day EMA at 1.6160. Negative tone continues to dominate on short-term studies, with indicators on daily chart starting to point lower that increases risk of further weakness. Critical support and pivot point lies at 1.6080/1.6060 zone, with break here expected to accelerate losses. Bounce on extended hourly conditions is so far seen corrective, with previous support at 1.6160, now acting as initial resistance. Only clear break above 1.6200 handle would ease bear pressure.

Res: 1.6160, 1.6200, 1.6214, 1.6237
Sup: 1.6113, 1.6100, 1.6080, 1.6060

USD/JPY
Short-term outlook remains negative, as the pair fully retraced recent 79.63/80.60 rally. While holding below strong barrier at 80.00, last week’s range floor and daily Ichimoku cloud base, immediate focus lies at 79.63/52, below which opens round figure support and 01 Nov 2011 high at 79.00, also near Fib 61.8% of 76.00/84.17 rally. Only lift above 80.60, 02/03 May peaks / main bear trendline off 84.08, would provide near-term relief.

Res: 80.00, 80.10, 80.39, 80.60
Sup: 79.71, 79.63, 79.52, 79.13

USD/CHF
Extension of last week’s recovery action from 0.9041 low, with today’s gap higher opening, has resulted in break above key short-term barrier at 0.9250. This keeps the downside protected for now and turns short-term focus higher, towards next very strong resistance zone and short-term range top at 0.9300/30. Indicators on a daily chart are emerging above their midlines, while overextended short-term studies are looking for corrective pullback. Initial support at 0.9200 and last week’s closing level at 0.9180, are expected to contain dips and keep short-term bulls intact. Only loss of 55 day EMA at 0.9130 and last week’s higher platform at 0.9113, would be bearish.

Res: 0.9250, 0.9269, 0.9300, 0.9330
Sup: 0.9213, 0.9200, 0.9180, 0.9130

 

[WindsorBrokers]

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

EUR/USD
The pair extends the last week’s weakness off 1.3282 high, with break below initial support at 1.3100, seen last Friday and overnight’s gap lower opening. Test of lower boundary of very strong support zone at 1.3000/1.2950, Mar/Apr lows / Fib 61.8% of 1.2622/1.3485 ascend, weakens the larger picture’s structure, with clear break below 1.2950, expected to accelerate losses towards 1.2900, figure support and 1.2875, 09 Jan 2011 / 23 Jan 2012 lows. Overextended short-term studies see potential for bounce higher, with initial barriers at 1.3030 and 1.3080, with 1.3155, 55 day EMA and double-top at 1.3180, capping the upside.

Res: 1.3030, 1.3080, 1.3100, 1.3155
Sup: 1.2952, 1.2930, 1.2900, 1.2875

GBP/USD
Cable dipped to 1.6115, Fib 38.2% of 1.5817/1.6300 upleg, after losing last week’s range floor and 55 day EMA at 1.6160. Negative tone continues to dominate on short-term studies, with indicators on daily chart starting to point lower that increases risk of further weakness. Critical support and pivot point lies at 1.6080/1.6060 zone, with break here expected to accelerate losses. Bounce on extended hourly conditions is so far seen corrective, with previous support at 1.6160, now acting as initial resistance. Only clear break above 1.6200 handle would ease bear pressure.

Res: 1.6160, 1.6200, 1.6214, 1.6237
Sup: 1.6113, 1.6100, 1.6080, 1.6060

USD/JPY
Short-term outlook remains negative, as the pair fully retraced recent 79.63/80.60 rally. While holding below strong barrier at 80.00, last week’s range floor and daily Ichimoku cloud base, immediate focus lies at 79.63/52, below which opens round figure support and 01 Nov 2011 high at 79.00, also near Fib 61.8% of 76.00/84.17 rally. Only lift above 80.60, 02/03 May peaks / main bear trendline off 84.08, would provide near-term relief.

Res: 80.00, 80.10, 80.39, 80.60
Sup: 79.71, 79.63, 79.52, 79.13

USD/CHF
Extension of last week’s recovery action from 0.9041 low, with today’s gap higher opening, has resulted in break above key short-term barrier at 0.9250. This keeps the downside protected for now and turns short-term focus higher, towards next very strong resistance zone and short-term range top at 0.9300/30. Indicators on a daily chart are emerging above their midlines, while overextended short-term studies are looking for corrective pullback. Initial support at 0.9200 and last week’s closing level at 0.9180, are expected to contain dips and keep short-term bulls intact. Only loss of 55 day EMA at 0.9130 and last week’s higher platform at 0.9113, would be bearish.

Res: 0.9250, 0.9269, 0.9300, 0.9330
Sup: 0.9213, 0.9200, 0.9180, 0.9130