Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD
The bloc currency trades in a near-term corrective mode, after hitting fresh low at 1.2953 overnight, the last barrier of med-term range floor. Bounce above 1.3000 handle, supported by positive German data, stabilizes around 1.3030 zone, previous daily high, with not big prospect of further recovery, unless filling the gap at Fib 38.2% of 1.3282/1.2953 descend and lift above 1.3100 barrier is seen. On the downside, loss of 1.2953 opens 1.2900/1.2875 next.

Res: 1.3044, 1.3080, 1.3100, 1.3155
Sup: 1.3000, 1.2952, 1.2930, 1.2900

GBP/USD
Corrective bounce off overnight’s low at 1.6113, showed not much of strength so far, as the initial static barrier at 1.6160, also 55 day EMA, capped recovery for now. Only regain of strong barrier at 1.6200, would allow for stronger correction towards next resistance at 1.6250, otherwise, fresh extension of larger downleg from 1.6300, would be likely scenario. On the downside, key support and pivotal point lies at 1.6080/60 zone, loss of which would trigger more significant losses.

Res: 1.6172, 1.6200, 1.6214, 1.6237
Sup: 1.6140, 1.6113, 1.6100, 1.6080

USD/JPY
Near-term consolidation above 76.63, day’s low, remains capped by 80.00 barrier, also 20 day EMA, for now, keeping the more significant barriers at 80.30 and 80.60 intact. Only lift above the latter would be signal of stronger recovery, however, dominating negative tone on short-term studies and bearish outlook on a daily chart, sees the downside favored for now. Below 79.63 to focus 79.50 and 79.13/00, Fibonacci / round figure support.

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

USD/CHF
Pullback from overnight’s high at 0.9269, on overbought near-term conditions, briefly paused losses at initial support at 0.9200, with negative tone on hourly chart studies and overextended ones on 4H chart, seeing potential for further correction of 0.9041/0.9269 upleg. Next strong support lies at 0.9180, weekly close level and Fib 38.2%, where dips should ideally be contained, for fresh extension of short-term recovery rally from 0.9041, to possibly open 0.9300/30, key short-term barriers. Only reversal under 0.9130, Fib 61.8% / 55 day EMA, would bring bears in play.

Res: 0.9250, 0.9269, 0.9300, 0.9330
Sup: 0.9180, 0.9130, 0.9113, 0.9100

 

[WindsorBrokers]

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

EUR/USD
The pair has recovered a part of the recent losses on a bounce from 1.2953 low, but last week’s low and closing level at 1.3080, proves to be tough barrier for now. As hourly 55 day EMA keeps the upside limited, signs of exhauster are seen on hourly chart, with loss of 1.3000 handle to weaken the near-term structure and turn focus lower. Larger timeframes studies maintain negative tone and unless minimum 1.3100 is regained, risk is seen of fresh weakness and test of 1.2953, loss of which to confirm break below multi-month range floor and open fresh bear leg towards 1.2900/1.2875.

Res: 1.3031, 1.3063, 1.3080, 1.3100
Sup: 1.3000, 1.2972, 1.2952, 1.2930

GBP/USD
Near-term recovery phase off yesterday’s low at 1.6114, also Fib 38.2% of 1.5817/1.6300 ascend, has so far been limited at 1.6200, with failure to clear this initial resistance zone, seeing risk of fresh weakness, as hourly studies are losing momentum. Larger picture, however, still holds positive tone, with supports at 1.6100 and more significant 1.6080/60 zone, expected to contain and keep bulls intact for possible retest of 1.6300. Otherwise, break lower to open way for further retracement of 1.5817/1.6300 upleg and expose 1.6000.

Res: 1.6182, 1.6200, 1.6214, 1.6237
Sup: 1.6140, 1.6113, 1.6100, 1.6080

USD/JPY
Continues to move sideways, off recent lows at 79.63, with near-term sentiment still negative, as recovery attempts were initially capped at 80.60, with the latest price action unable to clear 80.00 handle. This signals possible fresh extension of broader downtrend from 84.17 and while 80.60, previous highs and main bear trendline off 84.08 stay intact. Focus remains at 79.63/52, below which to open 79.00, round figure support, next.

Res: 80.10, 80.39, 80.60, 81.00
Sup: 79.71, 79.63, 79.52, 79.13

USD/CHF
Pullback from yesterday’s high at 0.9269, has so far found footstep at initial support zone at 0.9200, where fresh strength emerged. Improving conditions on hourly chart and positive tone on larger pictures, keeps the upside in focus, as the pair’s recent rally broke above key short-term barrier and range top at 0.9250. Clear break above 0.9250/69 is required for fresh attempt towards another key resistance at 0.9300 and 0.9330. Yesterday’s low and 55 day EMA at 0.9190 zone, are expected to hold the downside and keep short-term bulls intact.


Res: 0.9250, 0.9269, 0.9300, 0.9330
Sup: 0.9193, 0.9180, 0.9130, 0.9113

 

[WindsorBrokers]

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

EUR/USD
Upside rejection at 1.3060 zone and quick reversal under 1.3000 handle, confirms the pair being under heavy pressure. Overnight’s easing touched levels just few ticks ahead our initial target and strong support at 1.2953, with negative sentiment setting scope for fresh bear phase. Break below 1.2953 to expose 1.2900 and 1.2875. Potential corrective attempts should be capped at 1.3040/60 are and only clearance of 1.3100 would provide near-term relief.

Res: 1.3000, 1.3040, 1.3063, 1.3080
Sup: 1.2964, 1.2953, 1.2930, 1.2900

GBP/USD
Near-term attempts to base above recent low and Fibonacci support at 1.6113, remains in play, however, still weak near-term studies, keep the immediate focus at the downside, as daily studies started to point lower. Break below 1.6120/00 support zone to open pivotal area at 1.6080/60, for test. Yesterday’s intraday high at 1.6168 offers initial resistance, while only lift above 1.6200 would put short-term bears on hold.

Res: 1.6168, 1.6182, 1.6200, 1.6214
Sup: 1.6123, 1.6113, 1.6100, 1.6080

USD/JPY
Near-term sideways movements keep strong support at 79.63/52 intact for now, but still negative tone on lower timeframes, sees potential of break lower. Firm bear-trend on daily chart, keeps the downside favored, as long as initial resistance at 80.00 and strong barrier at 80.50/60 zone, bear-trendline / 02/03 May highs, limit the upside.

Res: 80.10, 80.39, 80.60, 81.00
Sup: 79.69, 79.63, 79.52, 79.13

USD/CHF
Near-term structure remains positive, as the pair approaches key near-term barrier at 0.9269, break of which is required to resume short-term recovery and expose significant resistances at 0.9300 and 0.9330. However, overextended conditions on 4H chart studies, may signal further corrective action. Key near-term supports lie at 0.9200/0.9180 zone and while holding above here, upside will remain in focus.


Res: 0.9261, 0.9269, 0.9300, 0.9330
Sup: 0.9208, 0.9193, 0.9180, 0.9130

 

[WindsorBrokers]

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

EUR/USD
Upside rejection at 1.3060 zone and quick reversal under 1.3000 handle, confirms the pair being under heavy pressure. Overnight’s easing touched levels just few ticks ahead our initial target and strong support at 1.2953, with negative sentiment setting scope for fresh bear phase. Break below 1.2953 to expose 1.2900 and 1.2875. Potential corrective attempts should be capped at 1.3040/60 are and only clearance of 1.3100 would provide near-term relief.

Res: 1.3000, 1.3040, 1.3063, 1.3080
Sup: 1.2964, 1.2953, 1.2930, 1.2900

GBP/USD
Near-term attempts to base above recent low and Fibonacci support at 1.6113, remains in play, however, still weak near-term studies, keep the immediate focus at the downside, as daily studies started to point lower. Break below 1.6120/00 support zone to open pivotal area at 1.6080/60, for test. Yesterday’s intraday high at 1.6168 offers initial resistance, while only lift above 1.6200 would put short-term bears on hold.

Res: 1.6168, 1.6182, 1.6200, 1.6214
Sup: 1.6123, 1.6113, 1.6100, 1.6080

USD/JPY
Near-term sideways movements keep strong support at 79.63/52 intact for now, but still negative tone on lower timeframes, sees potential of break lower. Firm bear-trend on daily chart, keeps the downside favored, as long as initial resistance at 80.00 and strong barrier at 80.50/60 zone, bear-trendline / 02/03 May highs, limit the upside.

Res: 80.10, 80.39, 80.60, 81.00
Sup: 79.69, 79.63, 79.52, 79.13

USD/CHF
Near-term structure remains positive, as the pair approaches key near-term barrier at 0.9269, break of which is required to resume short-term recovery and expose significant resistances at 0.9300 and 0.9330. However, overextended conditions on 4H chart studies, may signal further corrective action. Key near-term supports lie at 0.9200/0.9180 zone and while holding above here, upside will remain in focus.


Res: 0.9261, 0.9269, 0.9300, 0.9330
Sup: 0.9208, 0.9193, 0.9180, 0.9130

 

[WindsorBrokers]

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

EUR/USD
Extension below 1.2900 support that was lost yesterday, posted fresh 5-month low at 1.2813, overnight, just ahead of figure support at 1.2800. Negative structure sees potential for further weakness, with yearly low at 1.2622 now coming in focus. Any bounce higher, as hourly studies are in oversold territory, is for now seen as corrective, with strong barrier at 1.2900, previous low / 20 day EMA, while only lift above 1.2955/80 would delay bears.

Res: 1.2860, 1.2880, 1.2900, 1.2955
Sup: 1.2813, 1.2800, 1.2762, 1.2700

GBP/USD
Maintains near-term corrective tone off 1.6050, yesterday’s low, with brief break above 1.6100 handle and 1.6080 zone holding the downside for now. Clearance of 1.6130 zone, yesterday’s high / 55 day EMA / Fib 61.8% of 1.6181/1.6050 downleg is required to confirm near-term base at 1.6050 and open way for stronger retracement. On the downside, penetration of 1.6000 would signal an extension of short-term downtrend off 1.6300.

Res: 1.6122, 1.6130, 1.6181, 1.6200
Sup: 1.6084, 1.6050, 1.6000, 1.5984

USD/JPY
Brief penetration of 80.00 barrier also daily Ichimoku cloud base and quick reversal, keeps the upside limited for now. However, near-term price action remains supported at 79.80, with prospect for fresh strength still in play, as hourly studies started to point higher. Clearance of yesterday’s high / trendline resistance at 80.17/14 and Fibonacci 38.2% barrier at 80.32 is required to confirm further recovery. Otherwise, fresh attempt lower, as part of broader downtrend from 84.17, would be the likely scenario, as larger picture remains bearish.

Res: 79.92, 80.00, 80.17, 80.30
Sup: 79.80, 79.67, 79.42, 79.13

USD/CHF
Yesterday’s clearance of strong barrier at 0.9330, has so far reached 0.9371 high, en-route to initial target at 0.9400, with key med-term barriers above 0.9500, coming in focus. Overall positive structure keeps the upside favored, with corrective action on overextended near-term studies under way. Initial support at 0.9330is under pressure, with further reversal expected to find ground at 0.9300 zone, previous high / Fib 38.2% of 0.9193/0.9371 upleg, to keep bulls intact.

Res: 0.9371, 0.9388, 0.9400, 0.9450
Sup: 0.9330, 0.9300, 0.9269, 0.9250

 

[WindsorBrokers]

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

EUR/USD
Extension below 1.2900 support that was lost yesterday, posted fresh 5-month low at 1.2813, overnight, just ahead of figure support at 1.2800. Negative structure sees potential for further weakness, with yearly low at 1.2622 now coming in focus. Any bounce higher, as hourly studies are in oversold territory, is for now seen as corrective, with strong barrier at 1.2900, previous low / 20 day EMA, while only lift above 1.2955/80 would delay bears.

Res: 1.2860, 1.2880, 1.2900, 1.2955
Sup: 1.2813, 1.2800, 1.2762, 1.2700

GBP/USD
Maintains near-term corrective tone off 1.6050, yesterday’s low, with brief break above 1.6100 handle and 1.6080 zone holding the downside for now. Clearance of 1.6130 zone, yesterday’s high / 55 day EMA / Fib 61.8% of 1.6181/1.6050 downleg is required to confirm near-term base at 1.6050 and open way for stronger retracement. On the downside, penetration of 1.6000 would signal an extension of short-term downtrend off 1.6300.

Res: 1.6122, 1.6130, 1.6181, 1.6200
Sup: 1.6084, 1.6050, 1.6000, 1.5984

USD/JPY
Brief penetration of 80.00 barrier also daily Ichimoku cloud base and quick reversal, keeps the upside limited for now. However, near-term price action remains supported at 79.80, with prospect for fresh strength still in play, as hourly studies started to point higher. Clearance of yesterday’s high / trendline resistance at 80.17/14 and Fibonacci 38.2% barrier at 80.32 is required to confirm further recovery. Otherwise, fresh attempt lower, as part of broader downtrend from 84.17, would be the likely scenario, as larger picture remains bearish.

Res: 79.92, 80.00, 80.17, 80.30
Sup: 79.80, 79.67, 79.42, 79.13

USD/CHF
Yesterday’s clearance of strong barrier at 0.9330, has so far reached 0.9371 high, en-route to initial target at 0.9400, with key med-term barriers above 0.9500, coming in focus. Overall positive structure keeps the upside favored, with corrective action on overextended near-term studies under way. Initial support at 0.9330is under pressure, with further reversal expected to find ground at 0.9300 zone, previous high / Fib 38.2% of 0.9193/0.9371 upleg, to keep bulls intact.

Res: 0.9371, 0.9388, 0.9400, 0.9450
Sup: 0.9330, 0.9300, 0.9269, 0.9250

 

[WindsorBrokers]

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

EUR/USD
The single currency spirals lower after yesterday’s break below 1.2800 handle and longer-term bull trendline at 1.2770 and today’s loss of the last obstacle at 1.2700, towards 1.2622, January’s yearly low. Negative sentiment keeps the pair under heavy pressure and despite short-term studies being at their extreme levels, the price action continues to increase the pace of descending. Break below 1.2622 to open 1.2586 Aug 2010 low next, with 1.2000/zone expected to come in short-term focus. Initial resistance lies at 1.2720, with more significant barriers at 1.2800/15 and 1.2868.

Res: 1.2700, 1.2720, 1.2800, 1.2815
Sup: 1.2622, 1.2586, 1.2550, 1.2500

GBP/USD
The pair accelerated losses after losing key supports at 1.6050 and 1.6000, with break below 55 day MA at 1.5959, looking for test of round figure support at 1.5900 and possible extension towards 1.5850, Fib 38.2% of larger 1.5233/1.6300 ascend. Loss of bullish momentum on daily studies sees risk of further weakness, with test of 200 day MA at 1.5828 and strong support and higher platform at 1.5800, seen on a break below 1.5900. Near-term studies are overextend, yet no firm signals of any corrective action. Previous supports at 1.6000/50 are now reverted to initial barriers.

Res: 1.5971, 1.6000, 1.6050, 1.6065
Sup: 1.5947, 1.5900, 1.5852, 1.5900

USD/JPY
Clearance of strong resistance zone at 80.00, where 90 day MA and main bear trendline off 84.08, were limiting recent upside attempt, has so far extended gains to 80.43. Positive near-term sentiment keeps the upside in focus, with next target at 80.60, 02 may high / Fib 38.2% of 81.77/79.42 downleg. Break here is required to confirm base at 79.42 and allow for stronger recovery, with 80.90/81.00 to come in focus. Broken 90 day MA, now underpins the rally, along with 20/55 day EMA’s crossover at 80.00.

Res: 80.43, 80.60, 80.90, 81.00
Sup: 80.32, 80.15, 80.00, 79.67

USD/CHF
Accelerates gains after clearance of strong barriers at 0.9330 and 0.9400, with yearly high at 0.9593, posted in mid January, now coming in focus. No significant obstacles seen on a way towards 0.9593, with positive but extremely overextended near-term studies, underpinning the advance and not showing any signs of fatigue for now. Initial support lies at 0.9400, ahead of 0.9360 zone, Fibonacci support / 20 day EMA. On the upside, figure resistance comes first at 0.9500, ahead of 0.9545, 15 Dec 2011 high and 0.9593, 13 Jan 2012 peak.

Res: 0.9468, 0.9500, 0.9545, 0.9593
Sup: 0.9429, 0.9400, 0.9360, 0.9330

 

[WindsorBrokers]

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

EUR/USD
The single currency spirals lower after yesterday’s break below 1.2800 handle and longer-term bull trendline at 1.2770 and today’s loss of the last obstacle at 1.2700, towards 1.2622, January’s yearly low. Negative sentiment keeps the pair under heavy pressure and despite short-term studies being at their extreme levels, the price action continues to increase the pace of descending. Break below 1.2622 to open 1.2586 Aug 2010 low next, with 1.2000/zone expected to come in short-term focus. Initial resistance lies at 1.2720, with more significant barriers at 1.2800/15 and 1.2868.

Res: 1.2700, 1.2720, 1.2800, 1.2815
Sup: 1.2622, 1.2586, 1.2550, 1.2500

GBP/USD
The pair accelerated losses after losing key supports at 1.6050 and 1.6000, with break below 55 day MA at 1.5959, looking for test of round figure support at 1.5900 and possible extension towards 1.5850, Fib 38.2% of larger 1.5233/1.6300 ascend. Loss of bullish momentum on daily studies sees risk of further weakness, with test of 200 day MA at 1.5828 and strong support and higher platform at 1.5800, seen on a break below 1.5900. Near-term studies are overextend, yet no firm signals of any corrective action. Previous supports at 1.6000/50 are now reverted to initial barriers.

Res: 1.5971, 1.6000, 1.6050, 1.6065
Sup: 1.5947, 1.5900, 1.5852, 1.5900

USD/JPY
Clearance of strong resistance zone at 80.00, where 90 day MA and main bear trendline off 84.08, were limiting recent upside attempt, has so far extended gains to 80.43. Positive near-term sentiment keeps the upside in focus, with next target at 80.60, 02 may high / Fib 38.2% of 81.77/79.42 downleg. Break here is required to confirm base at 79.42 and allow for stronger recovery, with 80.90/81.00 to come in focus. Broken 90 day MA, now underpins the rally, along with 20/55 day EMA’s crossover at 80.00.

Res: 80.43, 80.60, 80.90, 81.00
Sup: 80.32, 80.15, 80.00, 79.67

USD/CHF
Accelerates gains after clearance of strong barriers at 0.9330 and 0.9400, with yearly high at 0.9593, posted in mid January, now coming in focus. No significant obstacles seen on a way towards 0.9593, with positive but extremely overextended near-term studies, underpinning the advance and not showing any signs of fatigue for now. Initial support lies at 0.9400, ahead of 0.9360 zone, Fibonacci support / 20 day EMA. On the upside, figure resistance comes first at 0.9500, ahead of 0.9545, 15 Dec 2011 high and 0.9593, 13 Jan 2012 peak.

Res: 0.9468, 0.9500, 0.9545, 0.9593
Sup: 0.9429, 0.9400, 0.9360, 0.9330

 

[WindsorBrokers]

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

EUR/USD
Continues near-term consolidation off 1.2681, yesterday’s low, with 1.2750 zone, Fib 23.6% of 1.2980/1.2681 downleg, capping for now. Near-term price action found footstep at 1.2700 zone and improving hourly studies, seeing potential for further corrective action, with break above yesterday’s high at 1.2757, required to resume higher and expose 1.2800 zone, Fib 38.2% and 15 May lows, next. Larger timeframes outlook, however, remains negative, but oversold daily conditions may be supportive for stronger correction, before test of yearly low at 1.2622.

Res: 1.2757, 1.2790, 1.2800, 1.2815
Sup: 1.2700, 1.2681, 1.2622, 1.2600

GBP/USD
Brief corrective/consolidative action that followed past three-day’s slide from 1.6100 zone, showed not much of recovery, as gains above 1.5900 handle were capped at 1.5953, near Fib 23.6% of 1.6112/1.5889 descend. Overnight’s price action was limited at 1.5930, with attack at 1.5900, increasing risk of fresh weakness. Main near-term targets lie at 1.5826/00, 200 day MA / beginning of Apr higher platform. Only regain of 1.6000/30 zone would ease bear pressure.

Res: 1.5931, 1.5953, 1.5974, 1.6000
Sup: 1.5889, 1.5852, 1.5827, 1.5800

USD/JPY
The pair holds above 80.00 support, with reversal off yesterday’s fresh high at 80.54 seen as corrective for now. Strong support zone at 80.00, where 90 day MA / broken bear trendline off 84.08 and Ichimoku cloud base stand, needs to hold, with clearance of 80.60, 02 May high and 50% retracement, required to resume short-term recovery off 79.42 and bring the price in the more safe zone. Otherwise, loss of 80.00 handle would risk return to 79.42 and possible resumption of broader downtrend off 84.17, yearly high.

Res: 80.54, 80.60, 80.90, 81.00
Sup: 80.27, 80.15, 80.00, 79.67

USD/CHF
Corrective pullback from 0.9469, yesterday’s fresh high, where recent strong gains were capped, en-route to 0.9500, is attempting to base above 0.9400, as near-term price action finds footstep at 0.9415 zone. Rather weak hourly studies, however, do not rule out further reversal, but more positive tone seen on 4-H chart, keeps the near-term focus at the upside. Below 0.9400, Fibonacci support at 0.9368 comes next, while only loss of key supports at 0.9330 and 0.9300 would weaken short-term structure and sideline bulls.

Res: 0.9453, 0.9469, 0.9500, 0.9545
Sup: 0.9412, 0.9400, 0.9360, 0.9330

 

[WindsorBrokers]

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

EUR/USD
Continues near-term consolidation off 1.2681, yesterday’s low, with 1.2750 zone, Fib 23.6% of 1.2980/1.2681 downleg, capping for now. Near-term price action found footstep at 1.2700 zone and improving hourly studies, seeing potential for further corrective action, with break above yesterday’s high at 1.2757, required to resume higher and expose 1.2800 zone, Fib 38.2% and 15 May lows, next. Larger timeframes outlook, however, remains negative, but oversold daily conditions may be supportive for stronger correction, before test of yearly low at 1.2622.

Res: 1.2757, 1.2790, 1.2800, 1.2815
Sup: 1.2700, 1.2681, 1.2622, 1.2600

GBP/USD
Brief corrective/consolidative action that followed past three-day’s slide from 1.6100 zone, showed not much of recovery, as gains above 1.5900 handle were capped at 1.5953, near Fib 23.6% of 1.6112/1.5889 descend. Overnight’s price action was limited at 1.5930, with attack at 1.5900, increasing risk of fresh weakness. Main near-term targets lie at 1.5826/00, 200 day MA / beginning of Apr higher platform. Only regain of 1.6000/30 zone would ease bear pressure.

Res: 1.5931, 1.5953, 1.5974, 1.6000
Sup: 1.5889, 1.5852, 1.5827, 1.5800

USD/JPY
The pair holds above 80.00 support, with reversal off yesterday’s fresh high at 80.54 seen as corrective for now. Strong support zone at 80.00, where 90 day MA / broken bear trendline off 84.08 and Ichimoku cloud base stand, needs to hold, with clearance of 80.60, 02 May high and 50% retracement, required to resume short-term recovery off 79.42 and bring the price in the more safe zone. Otherwise, loss of 80.00 handle would risk return to 79.42 and possible resumption of broader downtrend off 84.17, yearly high.

Res: 80.54, 80.60, 80.90, 81.00
Sup: 80.27, 80.15, 80.00, 79.67

USD/CHF
Corrective pullback from 0.9469, yesterday’s fresh high, where recent strong gains were capped, en-route to 0.9500, is attempting to base above 0.9400, as near-term price action finds footstep at 0.9415 zone. Rather weak hourly studies, however, do not rule out further reversal, but more positive tone seen on 4-H chart, keeps the near-term focus at the upside. Below 0.9400, Fibonacci support at 0.9368 comes next, while only loss of key supports at 0.9330 and 0.9300 would weaken short-term structure and sideline bulls.

Res: 0.9453, 0.9469, 0.9500, 0.9545
Sup: 0.9412, 0.9400, 0.9360, 0.9330

 

[WindsorBrokers]

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

EUR/USD
Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips need to be contained at 1.2760/40 zone, to maintain positive near-term tone for possible fresh attack at upper barriers. Lift above 1.2800, to face significant resistances at 1.2886, Fib 38.2% and 1.2900 zone, clearance of which to confirm near-term base and open way for stronger retracement of 1.3282/1.2641 downleg, with 1.2950/80 seen next. On the downside, loss f 1.2740 and psychological support at 1.2700, would turn focus lowercase larger timeframes outlook remains negative.

Res: 1.2800, 1.2811, 1.2868, 1.2886
Sup: 1.2757, 1.2748, 1.2736, 1.2713

GBP/USD
Undergoes near-term corrective action, after finding ground at 1.5731, fresh 2-month low, posted last Friday. Bounce above 1.5800 has so far been capped by daily 200 day MA, daily Ichimoku cloud base and hourly 55 day EMA at 1.5830 zone. With hourly indicators starting to point lower and 4H chart ones still in the negative territory, there is not much to expect from the current rally, However, sustained break above 200 day MA, with regain of 1.5877, Fib 38.2% of 1.6112/1.5731 downleg and 1.5900, psychological barrier, would bring more optimism in the near-term outlook. On the downside, loss of 1.5731 and 1.5700 support would risk further extension of broader downtrend from 1.6300 and expose 1.5640, mid February lows and Fib 61.8% of 1.5233/1.6300 ascend.

Res: 1.5841, 1.5877, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700

USD/JPY
Last week’s steep decline through strong psychological support at 80.00 and previous low at 79.42, so far tested our next target at 79.00, also near Fib 61.8% of 76.00/84.17 upleg. Temporary support was found here and the pair is attempting to base for some stronger recovery action. However, studies on both, lower and larger timeframes remain in the negative territory that increases risk of fresh weakness, with regain of initial resistance at 79.45 and more significant one at 80.00, required to improve near-term structure and open way for possible stronger correction. Otherwise, retest of 79.00 and extension towards our next downside target at 78.30 zone, would be the likely short-term scenario.

Res: 79.45, 79.60, 79.77, 80.00
Sup: 79.10, 79.00, 78.50, 78.30

USD/CHF
The pair trades in a near-term corrective mode, after testing our upside target at 0.9500, where gains were limited for now. Dips need to be contained above 0.9324, Fib 38.2% of 0.9041/0.9500 ascend and more significant 0.9300 support, to keep short-term bullish structure off 0.9041 intact, for possible extension above 0.9500 and test of our next targets at 0.9545 and yearly high at 0.9593. Only loss of 0.9300 would weaken the near-term structure and allow for stronger reversal.

Res: 0.9420, 0.9444, 0.9480, 0.9500
Sup: 0.9373, 0.9330, 0.9324, 0.9300

 

[WindsorBrokers]

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

EUR/USD
Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips need to be contained at 1.2760/40 zone, to maintain positive near-term tone for possible fresh attack at upper barriers. Lift above 1.2800, to face significant resistances at 1.2886, Fib 38.2% and 1.2900 zone, clearance of which to confirm near-term base and open way for stronger retracement of 1.3282/1.2641 downleg, with 1.2950/80 seen next. On the downside, loss f 1.2740 and psychological support at 1.2700, would turn focus lowercase larger timeframes outlook remains negative.

Res: 1.2800, 1.2811, 1.2868, 1.2886
Sup: 1.2757, 1.2748, 1.2736, 1.2713

GBP/USD
Undergoes near-term corrective action, after finding ground at 1.5731, fresh 2-month low, posted last Friday. Bounce above 1.5800 has so far been capped by daily 200 day MA, daily Ichimoku cloud base and hourly 55 day EMA at 1.5830 zone. With hourly indicators starting to point lower and 4H chart ones still in the negative territory, there is not much to expect from the current rally, However, sustained break above 200 day MA, with regain of 1.5877, Fib 38.2% of 1.6112/1.5731 downleg and 1.5900, psychological barrier, would bring more optimism in the near-term outlook. On the downside, loss of 1.5731 and 1.5700 support would risk further extension of broader downtrend from 1.6300 and expose 1.5640, mid February lows and Fib 61.8% of 1.5233/1.6300 ascend.

Res: 1.5841, 1.5877, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700

USD/JPY
Last week’s steep decline through strong psychological support at 80.00 and previous low at 79.42, so far tested our next target at 79.00, also near Fib 61.8% of 76.00/84.17 upleg. Temporary support was found here and the pair is attempting to base for some stronger recovery action. However, studies on both, lower and larger timeframes remain in the negative territory that increases risk of fresh weakness, with regain of initial resistance at 79.45 and more significant one at 80.00, required to improve near-term structure and open way for possible stronger correction. Otherwise, retest of 79.00 and extension towards our next downside target at 78.30 zone, would be the likely short-term scenario.

Res: 79.45, 79.60, 79.77, 80.00
Sup: 79.10, 79.00, 78.50, 78.30

USD/CHF
The pair trades in a near-term corrective mode, after testing our upside target at 0.9500, where gains were limited for now. Dips need to be contained above 0.9324, Fib 38.2% of 0.9041/0.9500 ascend and more significant 0.9300 support, to keep short-term bullish structure off 0.9041 intact, for possible extension above 0.9500 and test of our next targets at 0.9545 and yearly high at 0.9593. Only loss of 0.9300 would weaken the near-term structure and allow for stronger reversal.

Res: 0.9420, 0.9444, 0.9480, 0.9500
Sup: 0.9373, 0.9330, 0.9324, 0.9300

 

[WindsorBrokers]

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

EUR/USD
Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.

Res: 1.2780, 1.2800, 1.2811, 1.2868
Sup: 1.2781, 1.2750, 1.2724, 1.2700

GBP/USD
The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger recovery. Hourly studies are neutral, while 4H chart indicators pointing higher, but still in the negative territory. Daily studies hold bearish tone, as the pair remains limited at 200 day MA and Ichimoku cloud base. Break below initial support at 1.5780 to signal fresh weakness and possible return to 1.5731, ahead of more significant 1.5700 support. On the upside, only regain of 1.5900 and 1.5950, Fib 38.2% of 1.6300.1.5731, would improve current picture.

Res: 1.5840, 1.5865, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700

USD/JPY
The pair is attempting above past two days consolidation range that followed last week’s sharp slide to 79.00. Trendline resistance at 79.80 comes as first barrier, with regain of strong resistance at 80.00, also Fib 61.8% of 80.54/79.00 downleg, required to confirm near-term base. Hourly studies remain supportive, however, negative structure on a daily chart keeps the downside pressure and unless key barrier at 80.60 is cleared, current action would be seen as corrective and preceding fresh weakness. Strong support lies at 79.00, ahead of 200 day MA at 78.50.

Res: 79.60, 79.80, 80.00, 80.54
Sup: 79.23, 79.00, 78.50, 78.30

USD/CHF
Extends the near-term corrective pullback off 0.9500, last Friday’s peak that was triggered by overbought short-term studies. The pair has so far reached 0.9360 zone, where 55 day EMA offers support, however, weak hourly studies see potential for further easing and test of important supports at 0.9324, Fib 38.2% of 0.9041/0.9500 and psychological 0.9300 level. As larger picture keeps bulls still in play, reversal at/above 0.9300 would be ideal for resumption of short-term uptrend, with clearance of 0.9500 to open 0.9545 and yearly peak at 0.9593. Loss of 0.9300 would delay.

Res: 0.9394, 0.9420, 0.9444, 0.9480
Sup: 0.9366, 0.9330, 0.9324, 0.9300

 

[WindsorBrokers]

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

EUR/USD
Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.

Res: 1.2780, 1.2800, 1.2811, 1.2868
Sup: 1.2781, 1.2750, 1.2724, 1.2700

GBP/USD
The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger recovery. Hourly studies are neutral, while 4H chart indicators pointing higher, but still in the negative territory. Daily studies hold bearish tone, as the pair remains limited at 200 day MA and Ichimoku cloud base. Break below initial support at 1.5780 to signal fresh weakness and possible return to 1.5731, ahead of more significant 1.5700 support. On the upside, only regain of 1.5900 and 1.5950, Fib 38.2% of 1.6300.1.5731, would improve current picture.

Res: 1.5840, 1.5865, 1.5889, 1.5900
Sup: 1.5800, 1.5780, 1.5731, 1.5700

USD/JPY
The pair is attempting above past two days consolidation range that followed last week’s sharp slide to 79.00. Trendline resistance at 79.80 comes as first barrier, with regain of strong resistance at 80.00, also Fib 61.8% of 80.54/79.00 downleg, required to confirm near-term base. Hourly studies remain supportive, however, negative structure on a daily chart keeps the downside pressure and unless key barrier at 80.60 is cleared, current action would be seen as corrective and preceding fresh weakness. Strong support lies at 79.00, ahead of 200 day MA at 78.50.

Res: 79.60, 79.80, 80.00, 80.54
Sup: 79.23, 79.00, 78.50, 78.30

USD/CHF
Extends the near-term corrective pullback off 0.9500, last Friday’s peak that was triggered by overbought short-term studies. The pair has so far reached 0.9360 zone, where 55 day EMA offers support, however, weak hourly studies see potential for further easing and test of important supports at 0.9324, Fib 38.2% of 0.9041/0.9500 and psychological 0.9300 level. As larger picture keeps bulls still in play, reversal at/above 0.9300 would be ideal for resumption of short-term uptrend, with clearance of 0.9500 to open 0.9545 and yearly peak at 0.9593. Loss of 0.9300 would delay.

Res: 0.9394, 0.9420, 0.9444, 0.9480
Sup: 0.9366, 0.9330, 0.9324, 0.9300

 

[WindsorBrokers]

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

EUR/USD
The pair comes under increased pressure after recovery attempt stalled just above 1.2800 and renewed risk-off sentiment pushed the price lower to fully retrace recent 1.2641/1.2823 corrective leg. Negative studies keep our short-term target at 1.2622 in focus, with consolidative/corrective action above 1.2641, seen on overextended hourly studies. Immediate resistance lies at 1.2680/1.2900 zone, while only lift above 1.2730/50 would provide near-term relief.

Res: 1.2780, 1.2800, 1.2811, 1.2823
Sup: 1.2657, 1.2641, 1.2622, 1.2622

GBP/USD
Cable flirts with recent low at 1.5731, as mild corrective attempt didn’t show much of action and gains being capped at 1.5840. Reversal to the lows, along with negative short and longer-term studies and yesterday’s close below 200 day MA, sees risk of further extension of short-term downtrend from 1.6300, with 1.5700, psychological support, seen next, ahead of strong one at 1.5640, mid-Feb range lows / Fib 61.8%. Initial resistances lie at 1.5800 and 1.5840, ahead of 1.5900, 55 day EMA.

Res: 1.5800, 1.5821, 1.5847, 1.5865
Sup: 1.5740, 1.5731, 1.5700, 1.5640

USD/JPY

Strong rally through important barrier at 80.00, failed to sustain gains, as corrective action stalled at 80.13, just ahead of 90 day MA, with subsequent sharp reversal, reducing chances of fresh recovery. Near-term support was found at 79.44, previous strong resistance and Fib 61.8% of 79.00/80.13 upleg, with loss of momentum on hourly studies, increasing risk of revisiting 79.00 zone. Only regain of 80.00 zone would revive bulls.

Res: 79.64, 79.85, 80.00, 80.54
Sup: 79.44, 79.23, 79.00, 78.50

USD/CHF
Renewed strength off last Monday’s 0.9366 higher low, regained 0.9500 barrier and kept overall bullish sentiment intact for fresh gains towards 0.9545 and key short-term barrier at 0.9593, 2012 high. Corrective action on overbought hourly conditions, holds above Fib 23.6% at 0.9465 for now, with potential further easing expected to find ground above 0.9450/40 zone. Only loss of 0.9416/00 would sideline short-term bulls.

Res: 0.9485, 0.9500, 0.9545, 0.9593
Sup: 0.9465, 0.9450, 0.9440, 0.9412

 

[WindsorBrokers]

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

EUR/USD
The pair comes under increased pressure after recovery attempt stalled just above 1.2800 and renewed risk-off sentiment pushed the price lower to fully retrace recent 1.2641/1.2823 corrective leg. Negative studies keep our short-term target at 1.2622 in focus, with consolidative/corrective action above 1.2641, seen on overextended hourly studies. Immediate resistance lies at 1.2680/1.2900 zone, while only lift above 1.2730/50 would provide near-term relief.

Res: 1.2780, 1.2800, 1.2811, 1.2823
Sup: 1.2657, 1.2641, 1.2622, 1.2622

GBP/USD
Cable flirts with recent low at 1.5731, as mild corrective attempt didn’t show much of action and gains being capped at 1.5840. Reversal to the lows, along with negative short and longer-term studies and yesterday’s close below 200 day MA, sees risk of further extension of short-term downtrend from 1.6300, with 1.5700, psychological support, seen next, ahead of strong one at 1.5640, mid-Feb range lows / Fib 61.8%. Initial resistances lie at 1.5800 and 1.5840, ahead of 1.5900, 55 day EMA.

Res: 1.5800, 1.5821, 1.5847, 1.5865
Sup: 1.5740, 1.5731, 1.5700, 1.5640

USD/JPY

Strong rally through important barrier at 80.00, failed to sustain gains, as corrective action stalled at 80.13, just ahead of 90 day MA, with subsequent sharp reversal, reducing chances of fresh recovery. Near-term support was found at 79.44, previous strong resistance and Fib 61.8% of 79.00/80.13 upleg, with loss of momentum on hourly studies, increasing risk of revisiting 79.00 zone. Only regain of 80.00 zone would revive bulls.

Res: 79.64, 79.85, 80.00, 80.54
Sup: 79.44, 79.23, 79.00, 78.50

USD/CHF
Renewed strength off last Monday’s 0.9366 higher low, regained 0.9500 barrier and kept overall bullish sentiment intact for fresh gains towards 0.9545 and key short-term barrier at 0.9593, 2012 high. Corrective action on overbought hourly conditions, holds above Fib 23.6% at 0.9465 for now, with potential further easing expected to find ground above 0.9450/40 zone. Only loss of 0.9416/00 would sideline short-term bulls.

Res: 0.9485, 0.9500, 0.9545, 0.9593
Sup: 0.9465, 0.9450, 0.9440, 0.9412

 

[WindsorBrokers]

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

EUR/USD
The single currency bounces vs the dollar at the beginning of the week, with gap-higher opening backed by positive news from Eurozone. Initial barriers at 1.2600/20 are now coming under pressure. On the downside, 1.2500 offers solid support for now, despite last Friday’s brief break that posted fresh low at 1.2496. Larger picture, however, shows bears fully in play, though indicators at their extreme points, with bounces higher seen as corrective, as long as 1.2800 zone, previous high of 21 May and Fib 38.2% of 1.3282/1.2496 limits the upside. Positive tone on hourly chart sees potential for further corrective action, once 1.2620 is cleared, with 1.2670, 50% and 1.2700, figure resistance / Fib 61.8%, seen next.

Res: 1.2620, 1.2633, 1.2670, 1.2685
Sup: 1.2584, 1.2558, 1.2515, 1.2500

GBP/USD
The pair moves in a near-term corrective mode, after broad slide from 1.6300, yearly high, found temporary support at 1.5630, near Fib 61.8% of 1.5233/1.6300 ascend. Overextended studies on a daily chart see potential for stronger corrective action, however, no firm signal seen yet. Positive tone on hourly chart, from the other side, supports current action higher, with overnight’s gap-higher opening, attempting at first significant barrier at 1.5700/25 zone, Fib 38.2% / 24 May high. To confirm recovery, regain of minimum 1.5800, 200 day MA, is required.

Res: 1.5716, 1.5725, 1.5737, 1.5763
Sup: 1.5675, 1.5662, 1.5646, 1.5629

USD/JPY
Recovery attempt off 79.00 is losing ground after gains were capped at 80.00 zone, daily Ichimoku cloud base. Subsequent easing below bull trendline connecting 79.00/20 lows, with weakening near-term studies, sees risk of revisiting our key short-term support at 79.00, break of which to open way for fresh extension of broader downtrend from 84.17, annual high and expose 78.50, 200 day MA, next. Initial resistances lie at 79.7080, where 55 day EMA caps, while only firm break above 80.00, previous high / Fib 38.2%, would bring short-term bulls back in play for possible attack at the next significant barrier at 80.60.

Res: 79.50, 79.70, 79.81, 80.00
Sup: 79.20, 79.00, 78.50, 78.30

USD/CHF
Remains in a near-term corrective mode, after 0.9600 zone limited recent strong gains. Initial support at 0.9540 now comes under pressure, below which to open 0.9500. Only extension below 0.9465, last week’s higher platform and Fib 61.8% of 0.9366/0.9609 ascend, would signal a pause in short-term uptrend in favor of stronger corrective action, with 0.9400 and 0.9366 to come in focus. On the upside, filling today’s gap will bring bulls fully in play for fresh extension towards 0.9700 zone, our next target.

Res: 0.9570, 0.9590, 0.9609, 0.9650
Sup: 0.9513, 0.9500, 0.9465, 0.9443

 

[WindsorBrokers]

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

EUR/USD
The single currency bounces vs the dollar at the beginning of the week, with gap-higher opening backed by positive news from Eurozone. Initial barriers at 1.2600/20 are now coming under pressure. On the downside, 1.2500 offers solid support for now, despite last Friday’s brief break that posted fresh low at 1.2496. Larger picture, however, shows bears fully in play, though indicators at their extreme points, with bounces higher seen as corrective, as long as 1.2800 zone, previous high of 21 May and Fib 38.2% of 1.3282/1.2496 limits the upside. Positive tone on hourly chart sees potential for further corrective action, once 1.2620 is cleared, with 1.2670, 50% and 1.2700, figure resistance / Fib 61.8%, seen next.

Res: 1.2620, 1.2633, 1.2670, 1.2685
Sup: 1.2584, 1.2558, 1.2515, 1.2500

GBP/USD
The pair moves in a near-term corrective mode, after broad slide from 1.6300, yearly high, found temporary support at 1.5630, near Fib 61.8% of 1.5233/1.6300 ascend. Overextended studies on a daily chart see potential for stronger corrective action, however, no firm signal seen yet. Positive tone on hourly chart, from the other side, supports current action higher, with overnight’s gap-higher opening, attempting at first significant barrier at 1.5700/25 zone, Fib 38.2% / 24 May high. To confirm recovery, regain of minimum 1.5800, 200 day MA, is required.

Res: 1.5716, 1.5725, 1.5737, 1.5763
Sup: 1.5675, 1.5662, 1.5646, 1.5629

USD/JPY
Recovery attempt off 79.00 is losing ground after gains were capped at 80.00 zone, daily Ichimoku cloud base. Subsequent easing below bull trendline connecting 79.00/20 lows, with weakening near-term studies, sees risk of revisiting our key short-term support at 79.00, break of which to open way for fresh extension of broader downtrend from 84.17, annual high and expose 78.50, 200 day MA, next. Initial resistances lie at 79.7080, where 55 day EMA caps, while only firm break above 80.00, previous high / Fib 38.2%, would bring short-term bulls back in play for possible attack at the next significant barrier at 80.60.

Res: 79.50, 79.70, 79.81, 80.00
Sup: 79.20, 79.00, 78.50, 78.30

USD/CHF
Remains in a near-term corrective mode, after 0.9600 zone limited recent strong gains. Initial support at 0.9540 now comes under pressure, below which to open 0.9500. Only extension below 0.9465, last week’s higher platform and Fib 61.8% of 0.9366/0.9609 ascend, would signal a pause in short-term uptrend in favor of stronger corrective action, with 0.9400 and 0.9366 to come in focus. On the upside, filling today’s gap will bring bulls fully in play for fresh extension towards 0.9700 zone, our next target.

Res: 0.9570, 0.9590, 0.9609, 0.9650
Sup: 0.9513, 0.9500, 0.9465, 0.9443

 

[WindsorBrokers]

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

EUR/USD
Near-term sentiment turned negative, as the pair lost ground again after brief correction and basing attempt failed. Upside rejection above 1.2600 and subsequent reversal that resulted in loss of near-term footstep at 1.2500, opened way for extension of broader downtrend, with 1.2439 low seen so far. As more negative news come from the Eurozone, the outlook for the single currency remains bleak, with short-term focus turning towards 1.2150, June 2010 low and retest of 1.2000, not ruled out in the coming weeks. Previous base at 1.2500, now offers initial resistance, while any stronger corrective action requires break above 1.2600 zone.

Res: 1.2480, 1.2500, 1.2515, 1.2550
Sup: 1.2439, 1.2400, 1.2380, 1.2350

GBP/USD

Cable dipped below temporary support zone at 1.5640, approaching next significant support at 1.5600, 12 Mar low and the last strong hurdle on the way towards 1.5233, 13 Jan yearly low. As bearish tone continues to drive the price lower, possible bounce higher would occur on oversold near-term studies. Previous lows at 1.5630/40 zone offer initial barriers, while any stronger gains are seen limited at 1.5700/50 zone for now.

Res: 1.5600, 1.5630, 1.5640, 1.5654
Sup: 1.5561, 1.5550, 1.5530, 1.5500

USD/JPY
The pair breaks below near-term triangle support at 79.40, as corrective action off 79.00 stalled at psychological 80.00 barrier and subsequent weakness, followed by narrow consolidation, lost momentum. Immediate focus comes at 79.20, ahead of strong 79.00 support, loss of which to signal an extension of broader downtrend from yearly high at 84.17 and expose 78.60 200 day MA, next. Near-term studies are turning negative after brief neutral-mode movements. On the upside, recent range top at 79.60, offers initial resistance, ahead of more significant 80.00 zone. Only break here would ease bear pressure.

Res: 79.60, 79.70, 79.81, 80.00
Sup: 79.28, 79.20, 79.00, 78.50

USD/CHF
Continues to travel north after brief consolidation followed two unsuccessful attempts through 0.9600 barrier, with footstep found above initial support at 0.9530. Clearance of 0.9600 opens way towards our next upside target at 0.9700, figure resistance / 150 day MA. Positive near-term studies remain supportive, however, caution required as MACD bullish divergence appearing on 4H chart and daily studies at extreme levels. Immediate support lies at 0.9600, ahead of 0.9556 and 0.9527 that are expected to keep the downside protected for now.

Res: 0.9653, 0.9700, 0.9743, 0.9773
Sup: 0.9622, 0.9600, 0.9556, 0.9527

 

[WindsorBrokers]

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

EUR/USD
Near-term sentiment turned negative, as the pair lost ground again after brief correction and basing attempt failed. Upside rejection above 1.2600 and subsequent reversal that resulted in loss of near-term footstep at 1.2500, opened way for extension of broader downtrend, with 1.2439 low seen so far. As more negative news come from the Eurozone, the outlook for the single currency remains bleak, with short-term focus turning towards 1.2150, June 2010 low and retest of 1.2000, not ruled out in the coming weeks. Previous base at 1.2500, now offers initial resistance, while any stronger corrective action requires break above 1.2600 zone.

Res: 1.2480, 1.2500, 1.2515, 1.2550
Sup: 1.2439, 1.2400, 1.2380, 1.2350

GBP/USD

Cable dipped below temporary support zone at 1.5640, approaching next significant support at 1.5600, 12 Mar low and the last strong hurdle on the way towards 1.5233, 13 Jan yearly low. As bearish tone continues to drive the price lower, possible bounce higher would occur on oversold near-term studies. Previous lows at 1.5630/40 zone offer initial barriers, while any stronger gains are seen limited at 1.5700/50 zone for now.

Res: 1.5600, 1.5630, 1.5640, 1.5654
Sup: 1.5561, 1.5550, 1.5530, 1.5500

USD/JPY
The pair breaks below near-term triangle support at 79.40, as corrective action off 79.00 stalled at psychological 80.00 barrier and subsequent weakness, followed by narrow consolidation, lost momentum. Immediate focus comes at 79.20, ahead of strong 79.00 support, loss of which to signal an extension of broader downtrend from yearly high at 84.17 and expose 78.60 200 day MA, next. Near-term studies are turning negative after brief neutral-mode movements. On the upside, recent range top at 79.60, offers initial resistance, ahead of more significant 80.00 zone. Only break here would ease bear pressure.

Res: 79.60, 79.70, 79.81, 80.00
Sup: 79.28, 79.20, 79.00, 78.50

USD/CHF
Continues to travel north after brief consolidation followed two unsuccessful attempts through 0.9600 barrier, with footstep found above initial support at 0.9530. Clearance of 0.9600 opens way towards our next upside target at 0.9700, figure resistance / 150 day MA. Positive near-term studies remain supportive, however, caution required as MACD bullish divergence appearing on 4H chart and daily studies at extreme levels. Immediate support lies at 0.9600, ahead of 0.9556 and 0.9527 that are expected to keep the downside protected for now.

Res: 0.9653, 0.9700, 0.9743, 0.9773
Sup: 0.9622, 0.9600, 0.9556, 0.9527