Short Term Technical Analysis for Majors

[WindsorBrokers]

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

EUR/USD
Yesterday’s reversal from fresh high at 1.2745, hit day’s low at 1.2557, also Fib 61.8% of 1.2441/1.2745 upleg, where temporary support was found. Brief recovery hasn’t shown much, despite regain of 1.2600 handle, as near-term structure remains negative, following yesterday’s losses. Bounce from 1.2557 was capped by 55 day EMA at 1.2613, with fresh slide under 1.2600, keeping the downside in focus. Loss of strong supports at 1.2557, yesterday’s low and 1.2543, bull trendline connecting 1.2287 and 1.2441 lows, to trigger further weakness and open 1.2500 and 1.2440 higher platform. On the upside, only regain of strong barrier at 1.2665 would turn focus higher.

Res: 1.2600, 1.2613, 1.2645, 1.2665
Sup: 1.2557, 1.2541, 1.2534, 1.2500

GBP/USD
Bounce from 1.5629, yesterday’s low, where a corrective pullback off 1.5740 high, found support, remains under initial barrier at 1.5700, with more sideways movement seen in late Asia / early Europe trading. Near-term focus remains at the upside, as studies keep positive tone, however, break above 1.5700 is required for fresh attempt towards strong resistance zone at 1.5740/50, yesterday’s high / 200 day MA. Fibonacci level at 1.5660 offers initial support, ahead of yesterday’s low at 1.5629, while break below 1.5600 would weaken the near-term structure.

Res: 1.5700, 1.5718, 1.5740, 1.5750
Sup: 1.5660, 1.5630, 1.5600, 1.5576

USD/JPY
Narrows the near-term range, following yesterday’s upside rejection at 79.40, with 78.80 zone still holding the downside protected from retest of key near-term support at 78.60. As hourly indicators are entering negative territory and price action unable to break above 79.00, more weakness is seen likely. Loss of 78.60 would confirm bears are back in play, while bounce above 79.40 would provide near-term relief. Key upside barriers lie at 79.80 and 80.00.

Res: 79.13, 79.40, 79.50, 79.80
Sup: 78.92, 78.80, 78.60, 78.50

USD/CHF
Maintains near-term positive tone, after strong rally from yesterday’s low at 0.9420 broke above 0.9500/36 barriers, to peak at 0.9562, Fib 61.8% of 0.9649/0.9420 downleg. Brief easing on overbought near-term conditions, found support at 55 day EMA at 0.9517. As hourly studies started to point higher, potential is seen for test of 0.9562/72 barriers, break of which to open way for further retracement and expose figure resistance at 0.9600, ahead of very significant barriers at 0.9656/75. On the downside, loss of 0.9500 would turn near-term focus lower.

Res: 0.9562, 0.9572, 0.9600, 0.9626
Sup: 0.9517, 0.9500, 0.9481, 0.9439

 

[WindsorBrokers]

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

EUR/USD
Yesterday’s reversal from fresh high at 1.2745, hit day’s low at 1.2557, also Fib 61.8% of 1.2441/1.2745 upleg, where temporary support was found. Brief recovery hasn’t shown much, despite regain of 1.2600 handle, as near-term structure remains negative, following yesterday’s losses. Bounce from 1.2557 was capped by 55 day EMA at 1.2613, with fresh slide under 1.2600, keeping the downside in focus. Loss of strong supports at 1.2557, yesterday’s low and 1.2543, bull trendline connecting 1.2287 and 1.2441 lows, to trigger further weakness and open 1.2500 and 1.2440 higher platform. On the upside, only regain of strong barrier at 1.2665 would turn focus higher.

Res: 1.2600, 1.2613, 1.2645, 1.2665
Sup: 1.2557, 1.2541, 1.2534, 1.2500

GBP/USD
Bounce from 1.5629, yesterday’s low, where a corrective pullback off 1.5740 high, found support, remains under initial barrier at 1.5700, with more sideways movement seen in late Asia / early Europe trading. Near-term focus remains at the upside, as studies keep positive tone, however, break above 1.5700 is required for fresh attempt towards strong resistance zone at 1.5740/50, yesterday’s high / 200 day MA. Fibonacci level at 1.5660 offers initial support, ahead of yesterday’s low at 1.5629, while break below 1.5600 would weaken the near-term structure.

Res: 1.5700, 1.5718, 1.5740, 1.5750
Sup: 1.5660, 1.5630, 1.5600, 1.5576

USD/JPY
Narrows the near-term range, following yesterday’s upside rejection at 79.40, with 78.80 zone still holding the downside protected from retest of key near-term support at 78.60. As hourly indicators are entering negative territory and price action unable to break above 79.00, more weakness is seen likely. Loss of 78.60 would confirm bears are back in play, while bounce above 79.40 would provide near-term relief. Key upside barriers lie at 79.80 and 80.00.

Res: 79.13, 79.40, 79.50, 79.80
Sup: 78.92, 78.80, 78.60, 78.50

USD/CHF
Maintains near-term positive tone, after strong rally from yesterday’s low at 0.9420 broke above 0.9500/36 barriers, to peak at 0.9562, Fib 61.8% of 0.9649/0.9420 downleg. Brief easing on overbought near-term conditions, found support at 55 day EMA at 0.9517. As hourly studies started to point higher, potential is seen for test of 0.9562/72 barriers, break of which to open way for further retracement and expose figure resistance at 0.9600, ahead of very significant barriers at 0.9656/75. On the downside, loss of 0.9500 would turn near-term focus lower.

Res: 0.9562, 0.9572, 0.9600, 0.9626
Sup: 0.9517, 0.9500, 0.9481, 0.9439

 

[WindsorBrokers]

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

EUR/USD
The Euro remains well supported, as strong rally from yesterday approaches initial barrier and 18 Jun high at 1.2745, with 1.2729 seen so far. Dominating positive tone on near-term studies, keeps bulls in play, with 1.2745 and 1.2800 levels in focus. Overnights correction low at 1.2661, offer initial support, along with 20 day EMA, while key near-term support, reinforced by bull trendline off 1.2287, lies at 1.2557 and break here to signal a double-top formation.

Res: 1.2700, 1.2729, 1.2745, 1.2800
Sup: 1.2661, 1.2643, 1.2623, 1.2600

GBP/USD
Continues to trend higher, with break above previous high at 1.5740, cracking 200 day MA at 1.5750 and signaling further recovery. As larger timeframes studies show strong momentum building up and hourlies maintaining positive tone, break above 1.5750 is expected to look for test of next barriers at 1.5800 and 1.5850, 22 May high. Figure support at 1.5700 with 20 day EMA, offers initial support, while only loss of 1.5600, previous resistance and trendline support, will be bearish.

Res: 1.5756, 1.5800, 1.5820, 1.5847
Sup: 1.5700, 1.5630, 1.5614, 1.5600

USD/JPY
The pair remains under pressure, as bear-trendline off 79.73 continues to limit the upside, with overnight’s dip below 79.00 and 78.85, near-term range floor, increasing risk of retesting key near-term support and 200 day MA at 78.60. Break here would be a signal of further weakness, with 77.65, previous low and broken bear-trendline off 84.08, to come in focus. On the upside, minor barriers lie at 79.00/13, while only regain of 79.40 would improve the near-term tone.

Res: 79.00, 79.13, 79.40, 79.50
Sup: 78.85, 78.85, 78.60, 78.50

USD/CHF
Came under pressure again, as near-term recovery attempt off 0.9420, failed at Fib 61.8% of 0.9649/0.9420 downleg at 0.9562, with fresh weakness nearly fully retracing the 0.9420 to 0.9562 rally. Losses reached 0.9431 low so far. Corrective action on oversold hourly studies turn remains limited under 0.9500, keeping the downside in focus. Break below 0.9420 to open 0.9400 and 0.9366.

Res: 0.9483, 0.9500, 0.9521, 0.9553
Sup: 0.9459, 0.9431, 0.9420, 0.9400

 

[WindsorBrokers]

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

EUR/USD
The Euro remains well supported, as strong rally from yesterday approaches initial barrier and 18 Jun high at 1.2745, with 1.2729 seen so far. Dominating positive tone on near-term studies, keeps bulls in play, with 1.2745 and 1.2800 levels in focus. Overnights correction low at 1.2661, offer initial support, along with 20 day EMA, while key near-term support, reinforced by bull trendline off 1.2287, lies at 1.2557 and break here to signal a double-top formation.

Res: 1.2700, 1.2729, 1.2745, 1.2800
Sup: 1.2661, 1.2643, 1.2623, 1.2600

GBP/USD
Continues to trend higher, with break above previous high at 1.5740, cracking 200 day MA at 1.5750 and signaling further recovery. As larger timeframes studies show strong momentum building up and hourlies maintaining positive tone, break above 1.5750 is expected to look for test of next barriers at 1.5800 and 1.5850, 22 May high. Figure support at 1.5700 with 20 day EMA, offers initial support, while only loss of 1.5600, previous resistance and trendline support, will be bearish.

Res: 1.5756, 1.5800, 1.5820, 1.5847
Sup: 1.5700, 1.5630, 1.5614, 1.5600

USD/JPY
The pair remains under pressure, as bear-trendline off 79.73 continues to limit the upside, with overnight’s dip below 79.00 and 78.85, near-term range floor, increasing risk of retesting key near-term support and 200 day MA at 78.60. Break here would be a signal of further weakness, with 77.65, previous low and broken bear-trendline off 84.08, to come in focus. On the upside, minor barriers lie at 79.00/13, while only regain of 79.40 would improve the near-term tone.

Res: 79.00, 79.13, 79.40, 79.50
Sup: 78.85, 78.85, 78.60, 78.50

USD/CHF
Came under pressure again, as near-term recovery attempt off 0.9420, failed at Fib 61.8% of 0.9649/0.9420 downleg at 0.9562, with fresh weakness nearly fully retracing the 0.9420 to 0.9562 rally. Losses reached 0.9431 low so far. Corrective action on oversold hourly studies turn remains limited under 0.9500, keeping the downside in focus. Break below 0.9420 to open 0.9400 and 0.9366.

Res: 0.9483, 0.9500, 0.9521, 0.9553
Sup: 0.9459, 0.9431, 0.9420, 0.9400

 

[WindsorBrokers]

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

EUR/USD
No significant action seen post FOMC, as the price remains capped under key near-term barrier at 1.2745, but downside seen more vulnerable. Loss of bullish momentum that cracked initial support at 1.2665 sees risk of break below near-term range and fresh weakness ahead, with important supports at 1.2600, where 55 day EMA lies and more significant, 1.2557, 18 June low, also near 38.2% of 1.2287/1.2745, to come in focus. Lift above 1.2745, however, will avert downside risk and open 1.2800/50 instead.

Res: 1.2686, 1.2700, 1.2720, 1.2729
Sup: 1.2655, 1.2636, 1.2627, 1.2600

GBP/USD
Easing from yesterday’s fresh high at 1.5776, after failure to clear 200 day MA, is so far seen as corrective, as long as trendline support at 1.5630 and near-term floor at 1.5615 stay intact. However, weakening hourly studies may be a signal that the pair is running out of steam. Break below 1.5615/00 to confirm and end of near-term 1.5600/1.5774 cycle and allow for stronger retracement of broader 1.5267/1.5771 rally. On the upside, 1.5720/40 zone now offers good resistance and break here would turn near-term focus higher.

Res: 1.5700, 1.5720, 1.5740, 1.5756
Sup: 1.5650, 1.5630, 1.5615, 1.5600

USD/JPY
Yesterday’s bounce off 78.80 lows, where 200 day MA again kept the downside protected, moved the near-term price action off dangerous zone and turned focus higher again. Strong rally that approached key barriers at 79.80 and 80.00 that kept the upside limited for a past couple of weeks sees risk of repeated failure. Clear break here to signal fresh recovery and confirm base at 77.65. Immediate supports at 79.40/20 zone, are expected to contain any pullback and keep immediate bulls in play.

Res: 79.80, 80.00, 80.13, 80.60
Sup: 79.56, 79.40, 79.20, 79.11

USD/CHF
The near-term focus remains skewed lower, despite slight recovery seen on a bounce from yesterday’s spike to 0.9423. However, some improvement, seen on hourly chart studies, keeps hopes of possible stronger recovery alive, with clear break above 0.9500 zone, also 61.8% of 0.9562/0.9423 descend, required to ease immediate downside risk. Regain of key near-term barrier at 0.9562, would provide relief and signal double bottom formation. On the downside, key supports lie at 0.9420 and 0.9400, loss of which will open way for fresh extension of broader downtrend from 0.9769, 01 June peak.

Res: 0.9486, 0.9500, 0.9521, 0.9553
Sup: 0.9465, 0.9440, 0.9420, 0.9400

 

[WindsorBrokers]

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

EUR/USD
No significant action seen post FOMC, as the price remains capped under key near-term barrier at 1.2745, but downside seen more vulnerable. Loss of bullish momentum that cracked initial support at 1.2665 sees risk of break below near-term range and fresh weakness ahead, with important supports at 1.2600, where 55 day EMA lies and more significant, 1.2557, 18 June low, also near 38.2% of 1.2287/1.2745, to come in focus. Lift above 1.2745, however, will avert downside risk and open 1.2800/50 instead.

Res: 1.2686, 1.2700, 1.2720, 1.2729
Sup: 1.2655, 1.2636, 1.2627, 1.2600

GBP/USD
Easing from yesterday’s fresh high at 1.5776, after failure to clear 200 day MA, is so far seen as corrective, as long as trendline support at 1.5630 and near-term floor at 1.5615 stay intact. However, weakening hourly studies may be a signal that the pair is running out of steam. Break below 1.5615/00 to confirm and end of near-term 1.5600/1.5774 cycle and allow for stronger retracement of broader 1.5267/1.5771 rally. On the upside, 1.5720/40 zone now offers good resistance and break here would turn near-term focus higher.

Res: 1.5700, 1.5720, 1.5740, 1.5756
Sup: 1.5650, 1.5630, 1.5615, 1.5600

USD/JPY
Yesterday’s bounce off 78.80 lows, where 200 day MA again kept the downside protected, moved the near-term price action off dangerous zone and turned focus higher again. Strong rally that approached key barriers at 79.80 and 80.00 that kept the upside limited for a past couple of weeks sees risk of repeated failure. Clear break here to signal fresh recovery and confirm base at 77.65. Immediate supports at 79.40/20 zone, are expected to contain any pullback and keep immediate bulls in play.

Res: 79.80, 80.00, 80.13, 80.60
Sup: 79.56, 79.40, 79.20, 79.11

USD/CHF
The near-term focus remains skewed lower, despite slight recovery seen on a bounce from yesterday’s spike to 0.9423. However, some improvement, seen on hourly chart studies, keeps hopes of possible stronger recovery alive, with clear break above 0.9500 zone, also 61.8% of 0.9562/0.9423 descend, required to ease immediate downside risk. Regain of key near-term barrier at 0.9562, would provide relief and signal double bottom formation. On the downside, key supports lie at 0.9420 and 0.9400, loss of which will open way for fresh extension of broader downtrend from 0.9769, 01 June peak.

Res: 0.9486, 0.9500, 0.9521, 0.9553
Sup: 0.9465, 0.9440, 0.9420, 0.9400

 

[WindsorBrokers]

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

EUR/USD
Remains within past two day range, with upside levels above 1.2700, intact for now and near-term tone biased lower. The range floor at 1.2640 zone, also near 50% of 1.2557/1.2741, comes under pressure, as hourly studies are weakening. Break here will bring 1.2627, Fib 61.8%, in focus, ahead of more significant 1.2600/1.2590, figure support / main bull trendline and higher low at 1.2557, loss of which to confirm the double top pattern. Immediate resistance lies at 1.2700, day’s high.

Res: 1.2686, 1.2700, 1.2720, 1.2729
Sup: 1.2646, 1.2636, 1.2627, 1.2600

GBP/USD
Cable’s near-term price action moves in a corrective mode off yesterday’s high at 1.5776, with initial support at 1.5650 zone, also Fib 38.2% of 1.5475/1.5776, reinforced by bull trendline off 1.5267, 01 June low, holding the downside protected for now. However, weakening hourly studies and hourly MACD bearish divergence, may be a signal for stronger correction, with break below strong support at 1.5600, required to confirm. Upside is for now seen capped at 1.5730/40, while only break here would turn focus higher.

Res: 1.5700, 1.5732, 1.5740, 1.5756
Sup: 1.5650, 1.5639, 1.5615, 1.5600

USD/JPY
The pair extends its strong rally from yesterday’s low, as the third leg higher rallied through strong barriers at 79.80/80.00, following brief consolidation at 79.70/50 band. Strong bullish tone on near-term studies, now keeps the upside firmly in focus, as price breaks above another barrier at 80.14, 22 May high / Fib 38.2% of 84.08/77.65 descend and confirmed higher low at 78.60, where 200 day MA contained recent dips. Immediate focus lies at 80.60, 02/16 May peaks and 81.00 zone, also 50% retracement. Overextended hourly conditions, may be a signal for corrective action, yet no signals to interrupt rally. Previous strong barriers at 80.00 and 79.80 now revert to supports.

Res: 80.60, 80.71, 80.91, 81.00
Sup: 80.13, 80.00, 79.80, 79.50

USD/CHF
The pair gains further strength after escape from the dangerous zone at 0.9420 regains important barrier at 0.9500 area, where recent range top and Fib 61.8% of 0.9562/0.9420 lie. Further extension higher and clearance of 0.9520, 55 day EMA and 0.9532, bear-trendline off 0.9769, to further strengthen near-term structure for test of strong barriers at 0.9562, 18 June high, break of which to confirm near-term double-bottom formation.

Res: 0.9520, 0.9532, 0.9553, 0.9562
Sup: 0.9500, 0.9460, 0.9440, 0.9420

 

[WindsorBrokers]

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

EUR/USD
The pair has lost ground after the second unsuccessful attempt at 1.2745, sliding sharply lower, as losses accelerated on a break below 1.2640/00 support zone. Loss of trendline support and previous low at 1.2557, confirms the double top pattern and return below broken bear-trendline, connecting 1.2823 and 1.2667, opens way for fresh weakness, after overnight’s brief consolidation from 1.2530, yesterday’s low. Immediate focus comes at 1.2516, 50% of 1.2287/1.2745 ascend and 1.2500, figure support, below which would look for strong support zone at 1.2462, 61.8% and 1.2440 higher platform. Overnight’s high at 1.2563, now offers initial resistance, along with previous low and descending 20 day EMA, while only bounce above 1.2600 would delay bears.

Res: 1.2563, 1.2600, 1.2640, 1.2665
Sup: 1.2523, 1.2516, 1.2500, 1.2462

GBP/USD
The near term structure weakens after pullback from 1.5776, 20 June high, broke below important supports at 1.5625/00, dipping so far to 1.5576, with brief corrective attempt being capped at previous support and 20 day EMA at 1.5615. As near-term studies broke into negative territory, further weakness would be likely scenario, as the pair cracked 1.5600, previous mid-June range top. Below 1.5575 to focus 1.5521, 50% of 1.5267/1.5776 upleg and 1.5500, round figure support. Zone above 1.5600, now acts as resistance, with 1.5615 and 1.5650, offering solid barriers. Only regain of 1.5700 will bring bulls back in play.

Res: 1.5600, 1.5615, 1.5650, 1.5700
Sup: 1.5576, 1.5521, 1.5500, 1.5461

USD/JPY
The pair remains in a steady rally off 78.80, where bull trendline, connecting 77.65 and 78.60 lows, contained dips and fresh strength emerged. Clearance of strong resistances at 78.80/80.00/80.14, extends gains to the levels close to our next target at 80.60, where the price action now shows signs of exhaustion, as hourly studies enter overbought zone. Any pullback will be seen as corrective, as long as 79.80, previous range top, holds the downside, with fresh extension higher seen likely, as larger picture’s studies are gaining momentum. Above 80.60 to focus 81.00.


Res: 80.50, 80.60, 80.71, 81.00
Sup: 80.30, 80.13, 80.00, 79.80

CRUDE OIL
Crude oil contract for August continues to spiral lower, after break below strong support at 81.20/10 zone, where basing attempt failed, extended losses through our initial downside target at 80.00 and long-term trendline support at 79.00. Brief consolidation attempt at 78.00 level was short-lived, with price action extending its free-fall towards next targets and static supports at 78.70 and 74.94, Aug/Oct 2011 lows. Near-term studies are at extreme points, yet no signals of any corrective action that ,however, will be mild, as long as strong barrier at 81.10/20zone stays intact.

Res: 78.99, 79.94, 80.98, 81.10
Sup: 77.50, 77.00, 76.50, 76.00

 

[WindsorBrokers]

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

EUR/USD
Bounces off today’s low at 1.2518, where temporary footstep was found on 50% retracement of 1.2287/1.2745 upleg, with profit taking on past two days sharp fall, pushing the euro higher. Gains accelerated on a break above overnight’s high at 1.2563 and 20 day EMA, en-route to the next barrier at 1.2600, previous support / Fib 38.2% of 1.2740/1.2518 / 55 day EMA / broken bull trendline off 1.2287. Hourly RSI’s break out of oversold zone, as well as strong momentum building up, see potential for stronger reversal at the end of the week. Regain of minimum 1.2600, very strong resistance, is required to improve still negative near-term tone, with regain of next barriers at 1.2630 zone, 50% / 20 June spike low and 1.2656, Fib 61.8%, required to prevent further weakness. Weekly close below 1.2600, however, would be signal of further easing.

Res: 1.2580, 1.2600, 1.2640, 1.2665
Sup: 1.2563, 1.2518, 1.2500, 1.2462

GBP/USD
Eases below today’s low at 1.5576, Fib 38.2% of 1.5267/1.5776 upleg, as brief corrective action above 1.5600 barrier failed to sustain gains, being capped by descending hourly 20 day EMA at 1.5536. With 4H chart studies moving into the negative zone and previous strong support at 1.5600 being dented, risk is seen for further extension of reversal from 1.5776, with 1.5520/00 expected to come in focus on a break below 1.5570. At the upside, regain of minimum 1.5633/60 zone, would bring more positive tone in the near-term structure and possibly open way towards 1.5700 zone.

Res: 1.5600, 1.5615, 1.5633, 1.5650
Sup: 1.5570, 1.5521, 1.5500, 1.5461

USD/JPY
Strong rally that broke 79.80/80.00 barriers, penetrated daily Ichimoku cloud and approached our next target at 80.60, underwent brief consolidation and moving within 80.20 and 80.50 band in rather quiet trading. Overall tone remains positive, however, overextended 4H studies and hourly MACD bearish divergence, see risk of stronger reversal, as long as 80.60, previous highs and 80.70, 90 day MA keep the upside limited. Strong support at 80.00 should contain any dips, to keep near-term bulls intact.

Res: 80.50, 80.60, 80.71, 81.00
Sup: 80.20, 80.00, 79.90, 79.80

USD/CHF
The pair consolidates recent strong gains through 0.9562/72 barriers that found barrier at 0.9600 zone, 50% retracement of 0.9769/0.9420 descend. As today’s several attempts failed to clear 0.9600 resistance and hourly studies are losing momentum, with loss of initial support and near-term consolidation range bottom at 0.9555, further retracement of 0.9456/0.9590 upleg is not ruled out. Immediate support lies at 0.9539, Fib 38.2%, ahead of 0.9520, 50% / broken main bear-trendline off 0.9769, loss of which would question near-term bulls.

Res: 0.9590, 0.9600, 0.9626, 0.9650
Sup: 0.9539, 0.9520, 0.9500, 0.9460

 

[WindsorBrokers]

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

EUR/USD
The negative sentiment continues to drive euro lower at the beginning of the week, as continuation of the strongest sell-off in past six months. After rather quiet movements overnight, the pair accelerates losses at the beginning of European session. Break below last week’s low at 1.2518, also 50% of 1.2287/1.2745 ascend and slide under 1.2500 handle, opens way towards Fib 61.8% support at 1.2462 and higher platform at 1.2440 zone. Strong barriers at 1.2580/1.2600 zone are expected to cap any corrective movements, while only firm break above 1.2600 would ease bear pressure.

Res: 1.2547, 1.2543, 1.2580, 1.2600
Sup: 1.2462, 1.2440, 1.2409, 1.2400

GBP/USD
Extends short-term weakness off 1.5776, 20 June high, as price broke below Fib 38.2% of 1.5267/1.5776 rally at 1.5581, last Friday. Brief consolidation above 1.5600 was limited by descending hourly 20 day EMA, with today’s fresh weakness threatening Friday’s low at 1.5555, loss of which to focus 1.5521, 50% retracement and figure support at 1.5500. As near-term conditions remain negative, further weakness would be expected. At the upside, last Friday’s peak at 1.5633, along with 55 day EMA, offers solid resistance and only lift above here to provide relief.

Res: 1.5600, 1.5615, 1.5633, 1.5650
Sup: 1.5555, 1.5521, 1.5500, 1.5461

USD/JPY
Undergoes corrective pullback after strong rally through 79.80/80.00 barriers, tested our next target at 80.60. As hourly studies are running out of steam, with loss of bullish momentum and formation of MACD bearish divergence, the threat of further retracement of the latest rally increases. Price action approaches 80.00 support, with break through 80.00/79.80, also 38.2% of 78.80/80.60 ascend, risks sidelining near-term bulls.

Res: 80.21, 80.50, 80.60, 80.71
Sup: 80.00, 79.90, 79.80, 79.50

USD/CHF
Attempts through 0.9590/0.9600 barriers, to mark the third leg of recovery rally from 0.9420, last week’s base and confirms near-term double-bottom formation. Positive near-term studies are supportive for further gains, with clear break above 0.9600 to expose 0.9636, Fib 61.8 and another strong barrier at 0.9660 zone, 08/12 June peaks. Ascending 20 day EMA underpins the advance at 0.9576, while only break below 0.9541, last Friday’s consolidation range floor, would delay bulls.

Res: 0.9609, 0.9626, 0.9650, 0.9675
Sup: 0.9590, 0.9576, 0.9541, 0.9500

 

[WindsorBrokers]

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

EUR/USD
The negative sentiment continues to drive euro lower at the beginning of the week, as continuation of the strongest sell-off in past six months. After rather quiet movements overnight, the pair accelerates losses at the beginning of European session. Break below last week’s low at 1.2518, also 50% of 1.2287/1.2745 ascend and slide under 1.2500 handle, opens way towards Fib 61.8% support at 1.2462 and higher platform at 1.2440 zone. Strong barriers at 1.2580/1.2600 zone are expected to cap any corrective movements, while only firm break above 1.2600 would ease bear pressure.

Res: 1.2547, 1.2543, 1.2580, 1.2600
Sup: 1.2462, 1.2440, 1.2409, 1.2400

GBP/USD
Extends short-term weakness off 1.5776, 20 June high, as price broke below Fib 38.2% of 1.5267/1.5776 rally at 1.5581, last Friday. Brief consolidation above 1.5600 was limited by descending hourly 20 day EMA, with today’s fresh weakness threatening Friday’s low at 1.5555, loss of which to focus 1.5521, 50% retracement and figure support at 1.5500. As near-term conditions remain negative, further weakness would be expected. At the upside, last Friday’s peak at 1.5633, along with 55 day EMA, offers solid resistance and only lift above here to provide relief.

Res: 1.5600, 1.5615, 1.5633, 1.5650
Sup: 1.5555, 1.5521, 1.5500, 1.5461

USD/JPY
Undergoes corrective pullback after strong rally through 79.80/80.00 barriers, tested our next target at 80.60. As hourly studies are running out of steam, with loss of bullish momentum and formation of MACD bearish divergence, the threat of further retracement of the latest rally increases. Price action approaches 80.00 support, with break through 80.00/79.80, also 38.2% of 78.80/80.60 ascend, risks sidelining near-term bulls.

Res: 80.21, 80.50, 80.60, 80.71
Sup: 80.00, 79.90, 79.80, 79.50

USD/CHF
Attempts through 0.9590/0.9600 barriers, to mark the third leg of recovery rally from 0.9420, last week’s base and confirms near-term double-bottom formation. Positive near-term studies are supportive for further gains, with clear break above 0.9600 to expose 0.9636, Fib 61.8 and another strong barrier at 0.9660 zone, 08/12 June peaks. Ascending 20 day EMA underpins the advance at 0.9576, while only break below 0.9541, last Friday’s consolidation range floor, would delay bulls.

Res: 0.9609, 0.9626, 0.9650, 0.9675
Sup: 0.9590, 0.9576, 0.9541, 0.9500

 

[WindsorBrokers]

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

EUR/USD
The pair remains under pressure after losses were briefly held, first at 1.2500 and the at 1.2470, where the last footstep was found and just ahead of Fibonacci support at 1.2461. Risk-off sentiment continues to dominate, with eyes on the EU summit later this week. Immediate downside targets lie at 1.2461/40, strong support zone, loss of which to confirm double top and open 1.2400, psychological support. Initial resistances lie at 1.2500 and 1.2518, while only lift above 1.2540/50 would provide relief. Key near-term barrier at 1.2580/1.2600 keeps the upside protected for now.

Res: 1.2500, 1.2518, 1.2550, 1.2580
Sup: 1.2470, 1.2462, 1.2440, 1.2409

GBP/USD
The near-term price action remains under pressure, as Cable breaks below last Friday’s low at 1.5555, to post marginally fresh 10 day low at 1.5538, just ahead of our next target at 1.5521, also 50% of 1.5267/1.5776 upleg and round figure support at 1.5500. Near-term studies maintain negative tone, with 20/55 day EMA’s crossover, putting additional pressure. Break below 1.5500 to open strong support at 1.5460, Fib 61.8% and mid-June range floor. Previous support at 1.5600 offers initial resistance, while only break above 1.5633, last Friday’s high / bear trendline off 1.5776 high, would sideline near-term bears.

Res: 1.5590, 1.5600, 1.5615, 1.5633
Sup: 1.5538, 1.5521, 1.5500, 1.5461

USD/JPY
Pullback off 80.60, overnight high and our near-term target, turned the near-term structure negative, as the price slid through important supports at 80.00 and 79.80. Temporary support was found at 79.55, just ahead of Fibonacci 61.8% at 79.48, as oversold hourlies suggest corrective action. Previous strong supports at 79.80 and 80.00, now act as resistances, with 20/55 EMA’s crossover at 80.00, reinforcing barrier. Firm break and today’s close above 80.00 would bring bulls back in play and prevent the further losses, otherwise, break below 79.50 support would be a signal of further weakness towards 79.30/00.

Res: 79.80, 80.00, 80.21, 80.50
Sup: 79.50, 79.38, 79.30, 79.10

USD/CHF
The pair continues to travel north after clearance of psychological barrier at 50% retracement of 0.9769/0.9420 descend at 0.9600. Gains reached levels just ahead of the next barrier and Fibonacci 61.8% at 0.9636 and other upside target at 0.9660. Near-term structure is underpinned by 0.9600/0.9590 zone, 20 day EMA / last Friday’s highs, with next significant support at 0.9540 higher platform and 50% of 0.9456/0.9627 upleg.

Res: 0.9627, 0.9636, 0.9650, 0.9675
Sup: 0.9600, 0.9590, 0.9550, 0.9541

 

[WindsorBrokers]

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

EUR/USD
The near-term price action moves in a consolidative mode after finding footstep at 1.2470 yesterday, but overall bearish tone remains intact for now. Recovery above 1.2500 handle was for now limited by initial resistance, also 55 day EMA, at 1.2520 zone, however, with hourly indicators pointing higher, potential exists for further correction. Strong barriers at 1.2580/1.2600 are expected to limit upside movements and only break here would allow for stronger bounce. On the downside, strong supports lie at 1.2470 and 1.2440 zone.

Res: 1.2523, 1.2550, 1.2580, 1.2600
Sup: 1.2470, 1.2462, 1.2440, 1.2409

GBP/USD
Corrective action off yesterday’s low at 1.5538, is approaching strong barrier at 1.5600, previous range top / bear-trendline off 1.5776, 20 June high. Break here is required to open way for further recovery and expose next barriers at 1.5633 and 1.5650, as hourly studies are moving higher. Larger picture studies maintain negative tone, however, basing attempt at 1.5538 requires break above 1.5600/33 to confirm. Penetration of 1.5500, from the other side, would be bearish and signal further extension lower, for test of significant supports at 1.5460 and 1.5400.

Res: 1.5600, 1.5633, 1.5650, 1.5700
Sup: 1.5562, 1.5538, 1.5521, 1.5500

USD/JPY
The pair moves in a near-term consolidative mode, holding within 79.42/77 range, following an upside failure at 80.60 and subsequent slide under strong supports at 80.00 and 79.80. Hourly studies are in the negative territory, while 4H chart ones are about to break below the centrelines that will signal fresh extension lower and possible test of 79.00. Previous supports at 79.80/80.00 are now acting as initial resistance and only clear break higher, would improve the near-term picture.

Res: 79.80, 80.00, 80.21, 80.50
Sup: 79.42, 79.38, 79.10, 79.00

USD/CHF
Consolidates the latest rally through 0.9600 barrier that peaked at 0.9627 yesterday, just ahead of our targets at 0.9636/60 zone. Four-hour chart studies maintain positive tone and see scope for further retracement of 0.9769/0.9420 descend, however, MACD bearish divergence, seen on a hourly chart, increases risk of fresh weakness. Initial support at 0.9590 holds the downside for now, with break lower to expose 0.9562, Fib 38.2% and strong support at 0.9542, 22 June low / 50% retracement.

Res: 0.9627, 0.9636, 0.9650, 0.9675
Sup: 0.9590, 0.9550, 0.9541, 0.9500

 

[WindsorBrokers]

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

EUR/USD
The near-term price action moves in a consolidative mode after finding footstep at 1.2470 yesterday, but overall bearish tone remains intact for now. Recovery above 1.2500 handle was for now limited by initial resistance, also 55 day EMA, at 1.2520 zone, however, with hourly indicators pointing higher, potential exists for further correction. Strong barriers at 1.2580/1.2600 are expected to limit upside movements and only break here would allow for stronger bounce. On the downside, strong supports lie at 1.2470 and 1.2440 zone.

Res: 1.2523, 1.2550, 1.2580, 1.2600
Sup: 1.2470, 1.2462, 1.2440, 1.2409

GBP/USD
Corrective action off yesterday’s low at 1.5538, is approaching strong barrier at 1.5600, previous range top / bear-trendline off 1.5776, 20 June high. Break here is required to open way for further recovery and expose next barriers at 1.5633 and 1.5650, as hourly studies are moving higher. Larger picture studies maintain negative tone, however, basing attempt at 1.5538 requires break above 1.5600/33 to confirm. Penetration of 1.5500, from the other side, would be bearish and signal further extension lower, for test of significant supports at 1.5460 and 1.5400.

Res: 1.5600, 1.5633, 1.5650, 1.5700
Sup: 1.5562, 1.5538, 1.5521, 1.5500

USD/JPY
The pair moves in a near-term consolidative mode, holding within 79.42/77 range, following an upside failure at 80.60 and subsequent slide under strong supports at 80.00 and 79.80. Hourly studies are in the negative territory, while 4H chart ones are about to break below the centrelines that will signal fresh extension lower and possible test of 79.00. Previous supports at 79.80/80.00 are now acting as initial resistance and only clear break higher, would improve the near-term picture.

Res: 79.80, 80.00, 80.21, 80.50
Sup: 79.42, 79.38, 79.10, 79.00

USD/CHF
Consolidates the latest rally through 0.9600 barrier that peaked at 0.9627 yesterday, just ahead of our targets at 0.9636/60 zone. Four-hour chart studies maintain positive tone and see scope for further retracement of 0.9769/0.9420 descend, however, MACD bearish divergence, seen on a hourly chart, increases risk of fresh weakness. Initial support at 0.9590 holds the downside for now, with break lower to expose 0.9562, Fib 38.2% and strong support at 0.9542, 22 June low / 50% retracement.

Res: 0.9627, 0.9636, 0.9650, 0.9675
Sup: 0.9590, 0.9550, 0.9541, 0.9500

 

[WindsorBrokers]

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

EUR/USD
The Euro continues to trend lower, ahead of EU summit, as negative sentiment, fuelled by comments of German Chancellor Merkel, Spanish auctions and Germany’s credit rating cut keep the price under pressure. As the pair touched strong support at 1.2440 yesterday, immediate focus turns towards 1.2400 and possible extension to annual low at 1.2287 in a short-term. Overnight’s brief consolidation was limited at 1.2500, by 55 day EMA, with negative near-term studies seeing not much prospect for further corrective action for now, with significant barriers above 1.2500, standing at 1.2530 and 1.2580.

Res: 1.2507, 1.2529, 1.2550, 1.2580
Sup: 1.2479, 1.2440, 1.2409, 1.2400

GBP/USD
The near-term outlook still sees the downside risk, as bounce off 1.5538, 25 June low, struggles at 1.5650 zone, with near-term price action in sideways mode. However, the near-term rally remains protected by rising trendline off 1.5538 at 1.5600 zone, where also 55 day EMA lies. Loss of this level would weaken the structure and re-focus the downside. Clearance of 1.5650 to open 1.5685/1.5700 next.
Larger picture’s upside rejection at 1.5776, where 200 day MA capped the rally, however, will keep the short-term structure under pressure, as long as the latter caps the upside.

Res: 1.5650, 1.5660, 1.5685, 1.5700
Sup: 1.5620, 1.5600, 1.5575, 1.5562

USD/JPY
Reversal off 80.60 barrier that so far fell to 79.22, keeps the near-term price action under pressure, after loss of very strong supports at 80.00 and 79.80. Corrective/consolidative move off 79.36, remains limited under initial resistance at 79.80, with bearish short-term technicals, seeing risk of further decline and test of 79.00, figure support and 78.83, 200 day MA. Any stronger corrective action needs to clear minimum 80.00, to provide relief.

Res: 79.60, 79.80, 80.00, 80.60
Sup: 79.34, 79.22, 79.00, 78.83

USD/CHF
Moves sideways around 0.9600 handle, after rally from 0.9420 base briefly tested 0.9650 barrier yesterday. Near-term picture keeps positive tone and sees potential for further retracement of 0.9769/0.9420 descend, however, hourly MACD bearish divergence, increases risk of fresh weakness. Consolidation range floor at 0.9580, holds the downside for now, with break lower to expose strong support at 0.9540 zone, loss of which will be bearish. At the upside, lift above 0.9650 opens 0.9675 and 0.9700.

Res: 0.9622, 0.9650, 0.9675, 0.9700
Sup: 0.9600, 0.9580, 0.9550, 0.9541

 

[WindsorBrokers]

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

EUR/USD
The Euro continues to trend lower, ahead of EU summit, as negative sentiment, fuelled by comments of German Chancellor Merkel, Spanish auctions and Germany’s credit rating cut keep the price under pressure. As the pair touched strong support at 1.2440 yesterday, immediate focus turns towards 1.2400 and possible extension to annual low at 1.2287 in a short-term. Overnight’s brief consolidation was limited at 1.2500, by 55 day EMA, with negative near-term studies seeing not much prospect for further corrective action for now, with significant barriers above 1.2500, standing at 1.2530 and 1.2580.

Res: 1.2507, 1.2529, 1.2550, 1.2580
Sup: 1.2479, 1.2440, 1.2409, 1.2400

GBP/USD
The near-term outlook still sees the downside risk, as bounce off 1.5538, 25 June low, struggles at 1.5650 zone, with near-term price action in sideways mode. However, the near-term rally remains protected by rising trendline off 1.5538 at 1.5600 zone, where also 55 day EMA lies. Loss of this level would weaken the structure and re-focus the downside. Clearance of 1.5650 to open 1.5685/1.5700 next.
Larger picture’s upside rejection at 1.5776, where 200 day MA capped the rally, however, will keep the short-term structure under pressure, as long as the latter caps the upside.

Res: 1.5650, 1.5660, 1.5685, 1.5700
Sup: 1.5620, 1.5600, 1.5575, 1.5562

USD/JPY
Reversal off 80.60 barrier that so far fell to 79.22, keeps the near-term price action under pressure, after loss of very strong supports at 80.00 and 79.80. Corrective/consolidative move off 79.36, remains limited under initial resistance at 79.80, with bearish short-term technicals, seeing risk of further decline and test of 79.00, figure support and 78.83, 200 day MA. Any stronger corrective action needs to clear minimum 80.00, to provide relief.

Res: 79.60, 79.80, 80.00, 80.60
Sup: 79.34, 79.22, 79.00, 78.83

USD/CHF
Moves sideways around 0.9600 handle, after rally from 0.9420 base briefly tested 0.9650 barrier yesterday. Near-term picture keeps positive tone and sees potential for further retracement of 0.9769/0.9420 descend, however, hourly MACD bearish divergence, increases risk of fresh weakness. Consolidation range floor at 0.9580, holds the downside for now, with break lower to expose strong support at 0.9540 zone, loss of which will be bearish. At the upside, lift above 0.9650 opens 0.9675 and 0.9700.

Res: 0.9622, 0.9650, 0.9675, 0.9700
Sup: 0.9600, 0.9580, 0.9550, 0.9541

 

[WindsorBrokers]

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

EUR/USD
The pair moves in a directionless mode, entrenched within 1.2440/1.2530 range, awaiting the EU summit. Hourly studies are neutral in past two days, while larger picture maintains negative tone, with immediate barrier at 1.2530, range top / daily 20 day MA. Break here to trigger recovery towards key near-term resistance zone at 1.2580/1.2600 and signal basing attempt at strong 1.2460/40 zone, Fib 61.8% of 1.2287/1.2745 / 26/27 / mid June rage lows. Loss of the latter, however, will open a fresh leg of short-term downtrend from 1.2745 and focus 1.2400, initially.

Res: 1.2529, 1.2550, 1.2580, 1.2600
Sup: 1.2500, 1.2470, 1.2440, 1.2409

GBP/USD
Continues to move within 1.5538/1.5650 range, as the near-term price action remains capped by bear-trendline off 1.6300. Negative near-term studies keep the downside favored, as long as 1.5650 stays intact, while break here would signal near-term double bottom and re-focus 1.5700/45 zone. On the downside, 1.5538/44 lows are reinforced by daily 20 day MA and slide below to expose 50% retracement at 1.5521 and 1.5500, round figure support, ahead of strong support at 1.5460, mid-June lows / Fib 61.8% of 1.5267/1.5776 upleg.

Res: 1.5622, 1.5650, 1.5700, 1.5732
Sup: 1.5575, 1.5545, 1.5538, 1.5521

USD/JPY
Reversal off 80.60 barrier that so far fell to 79.22, keeps the near-term price action under pressure, after loss of very strong supports at 80.00 and 79.80. Corrective/consolidative move off 79.22, remains limited under initial resistance at 79.80, also descending 55 day MA. Negative short-term outlook sees risk of further decline and test of 79.00, figure support and 78.83, 200 day MA, as the price cracked bull-trendline connecting 77.65 and 78.60 lows. Any bounce higher requires break above 80.00 to ease near-term bear-pressure.

Res: 79.60, 79.86, 80.00, 80.60
Sup: 79.32, 79.22, 79.00, 78.83

USD/CHF
Continues to consolidate the latest 0.9420 base that were so far capped at 0.9650, with near-term price action bouncing of the range floor and surging through 0.9600 barrier. Clearance of range top at 0.9650 and the next barrier at 0.9675 is required to turn near-term focus towards 0.9700 and 0.9769.


Res: 0.9675, 0.9700, 0.9750, 0.9769
Sup: 0.9600, 0.9580, 0.9550, 0.9541

 

[WindsorBrokers]

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

EUR/USD
The pair moves in a directionless mode, entrenched within 1.2440/1.2530 range, awaiting the EU summit. Hourly studies are neutral in past two days, while larger picture maintains negative tone, with immediate barrier at 1.2530, range top / daily 20 day MA. Break here to trigger recovery towards key near-term resistance zone at 1.2580/1.2600 and signal basing attempt at strong 1.2460/40 zone, Fib 61.8% of 1.2287/1.2745 / 26/27 / mid June rage lows. Loss of the latter, however, will open a fresh leg of short-term downtrend from 1.2745 and focus 1.2400, initially.

Res: 1.2529, 1.2550, 1.2580, 1.2600
Sup: 1.2500, 1.2470, 1.2440, 1.2409

GBP/USD
Continues to move within 1.5538/1.5650 range, as the near-term price action remains capped by bear-trendline off 1.6300. Negative near-term studies keep the downside favored, as long as 1.5650 stays intact, while break here would signal near-term double bottom and re-focus 1.5700/45 zone. On the downside, 1.5538/44 lows are reinforced by daily 20 day MA and slide below to expose 50% retracement at 1.5521 and 1.5500, round figure support, ahead of strong support at 1.5460, mid-June lows / Fib 61.8% of 1.5267/1.5776 upleg.

Res: 1.5622, 1.5650, 1.5700, 1.5732
Sup: 1.5575, 1.5545, 1.5538, 1.5521

USD/JPY
Reversal off 80.60 barrier that so far fell to 79.22, keeps the near-term price action under pressure, after loss of very strong supports at 80.00 and 79.80. Corrective/consolidative move off 79.22, remains limited under initial resistance at 79.80, also descending 55 day MA. Negative short-term outlook sees risk of further decline and test of 79.00, figure support and 78.83, 200 day MA, as the price cracked bull-trendline connecting 77.65 and 78.60 lows. Any bounce higher requires break above 80.00 to ease near-term bear-pressure.

Res: 79.60, 79.86, 80.00, 80.60
Sup: 79.32, 79.22, 79.00, 78.83

USD/CHF
Continues to consolidate the latest 0.9420 base that were so far capped at 0.9650, with near-term price action bouncing of the range floor and surging through 0.9600 barrier. Clearance of range top at 0.9650 and the next barrier at 0.9675 is required to turn near-term focus towards 0.9700 and 0.9769.


Res: 0.9675, 0.9700, 0.9750, 0.9769
Sup: 0.9600, 0.9580, 0.9550, 0.9541

 

[WindsorBrokers]

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

EUR/USD
Surges higher after finding ground at 1.2400 zone, making its biggest daily gains in eight months, boosted by positive news from the EU summit. Rally briefly breached 1.2600/13 barrier, figure resistance / Fib 61.8% of 1.2741/1.2406 downleg, where brief consolidation is underway, as hourly studies reached extreme levels. Previous lows at 1.2560 zone, offers good support and keep the downside intact, with focus at 1.2645, bear-trendline, connecting 1.3282 and 1.2745 peaks, break of which to open way towards 1.2700/45.

Res: 1.2626, 1.2650, 1.2667, 1.2700
Sup: 1.2560, 1.2525, 1.2500, 1.2487

GBP/USD
Cable’s bounce off yesterday’s low at 1.2484, broke above 1.5600 and trendline resistance at 1.5618, retracing over 50% of 1.5776/1.5484 downleg and regaining ground. Strong barrier at 1.5650, previous highs / main bear trendline off 1.6300, comes under pressure, with break here to open way for stronger recovery and possible attack at 1.5700 and 1.5745, 200 day MA and key short-term static barrier at 1.5776, 20 June peak. On the downside, 1.5600 zone offers support and break lower would weaken the near-term bullish structure.

Res: 1.5646, 1.5664, 1.5700, 1.5745
Sup: 1.5622, 1.5600, 1.5576, 1.5550

USD/JPY
The pair extended short-term weakness off 80.60 peak, with break below bull trendline off 77.65, testing levels just above 79.00, figure support. Corrective bounce is under way, however, not much to be expected as long as key near-term barriers at 79.86 and 80.00 stay intact. Near-term studies are still in the negative territory and only break above the latter would improve near-term tone for possible renewed attempt higher. Any failure under initial 79.86 barrier, would risk lower top and fresh extension lower. Key short-term supports lie at 79.00 base and 200 day MA at 78.85.

Res: 79.86, 80.00, 80.13, 80.60
Sup: 79.46, 79.21, 79.00, 78.85

USD/CHF
Has lost ground after break below key near-term support zone at 0.9600/0.9580. Fresh slide weakened near-term structure as losses erased over 61.8% of 0.9420/0.9677 rally, approaching psychological and trendline support at 0.9500. Break here to turn focus back towards 0.9420 base and confirm lower top at 0.9677 on daily chart, as part of broader weakness off 0.9769, 01 June peak. Previous supports at 0.9580/0.9600, now act as strong barriers, reinforced by 55 day EMA.

Res: 0.9541, 0.9580, 0.9600, 0.9650
Sup: 0.9528, 0.9510, 0.9500, 0.9456

 

[WindsorBrokers]

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

EUR/USD
The Euro corrects past two trading days strong rally, sparked by positive news from EU summit. The single currency has registered the strongest daily gains in a past eight months, as rally from last Thursday’s base at 1.2406, extended close to 1.2700, psychological barrier, after clearing main bear trendline off 1.3282 peak at 1.2600. Short-term outlook maintains positive sentiment, as risk appetite comes back in play. Corrective pullback after slight gap higher opening, is testing broken bear-trendline, with further easing not ruled out and ideal reversal above 1.2550, to maintain short-term bulls. Clearance of key short-term barrier at 1.2745, 18/20 June double top, is required to open way for stronger recovery and expose 1.2800/25, next.

Res: 1.2642, 1.2679, 1.2691, 1.2700
Sup: 1.2610, 1.2600, 1.2582, 1.2552

GBP/USD
The pair consolidates recent strong rally from 1.5484, 28 June low, that briefly tested psychological 1.5700 barrier so far. Corrective/consolidative action off last Friday’s 1.5805 high has been contained at 20 day EMA and Fib 23.6% of 1.5484/1.5705, for now, keeping the upside in focus. However, clear break above 1.5700 barrier and clearance of more significant 1.5750, 200 day MA and 1.5776, 20 June peak, is required to confirm higher low at 1.5484 and resume short-term recovery off 1.5267, 01 June low. Short-term studies maintain positive structure for now, while only break below 1.5600 handle would weaken the tone.

Res: 1.5678, 1.5705, 1.5732, 1.5745
Sup: 1.5650, 1.5622, 1.5600, 1.5570

USD/JPY
Short-term outlook remains positive, as the pair’s latest rally from 79.12, 50% of 77.65/80.60 ascend, where the footstep was found, approached our key barrier at 80.00 last Friday, ahead of current corrective easing. The near-term price action is hovering around broken bull trendline in attempt to find ground, however, rather weak near-term studies keep the downside still vulnerable. Risk is seen on extension towards key near-term supports at 79.00 zone, previous lows / 200 day MA, loss of which to soften short-term structure.

Res: 79.72, 79.98, 80.00, 80.60
Sup: 79.50, 79.35, 79.12, 79.00

USD/CHF
The pair losses ground after reversal off 0.677, 28 June high, erased a good part of 0.9420/0.9677 rally. Bounce from last Friday’s low at 0.9461, is seen corrective, as near-term studies remain negative and descending 20 day EMA keeps the upside limited at 0.9520 zone for now. Possible further extension higher needs to clear another strong barriers at 0.9570/0.9600 to improve the near-term structure, otherwise, revisit of short-term base at 0.9420 and possible break lower, would be the likely scenario.

Res: 0.9523, 0.9544, 0.9570, 0.9594
Sup: 0.9500, 0.9471, 0.9461, 0.9420