Short Term Technical Analysis for Majors

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

EUR/USD

Near-term price action remains supported at 1.2885, lows of yesterday / 29/26 Oct. Fresh strength 1.2900 and regain of 1.2936, Fib 38.2% of 1.3021/1.2885 downleg / hourly 20 day EMA, signals basing attempt, however, despite improving hourly studies, the picture on 4h chart still holds bearish tone. Upside extension through 1.2969/78, Fib 61.8% / bear-channel resistance, is required to avert downside risk and open way towards 1.3000/20 breakpoint zone. Otherwise, upside rejection risks lower top and fresh attempt towards 1.2900/1.2885 supports, loss of which to attract very strong support zone at 1.2830/00.

Res: 1.2935, 1.2955, 1.2980, 1.3000
Sup: 1.2881, 1.2843, 1.2833, 1.2825

eurusd_20121030085048.gif




GBP/USD

The pair extended pullback from 1.6142 high, to test psychological and Fib 61.8% support at 1.6000, reinforced by ascending daily 55 day MA that contained dips for now. Fresh momentum, developing on hourly chart, requires clear break above 1.6060, 38.2% of 1.6142/1.6005 downleg and 1.6100, main bear-trendline off 1.6308 peak, to confirm recovery and expose 1.6142, 25/26 Oct double top, break of which would be an initial signal of higher low at 1.5911, with regain of 1.6178/1.6200, required to confirm. Conversely, failure under trendline resistance, sees risk of lower top and fresh extension lower.

Res: 1.6090, 1.6100, 1.6142, 1.6178
Sup: 1.6020, 1.6000, 1.5989, 1.5974

gbpusd_20121030085023.gif



USD/JPY

Near-term bears remain in play, as the pair failed to sustain recovery above 80.00 barrier and subsequent weakness breaks below 79.50 base. Increased risk of re-visiting important 79.00 support, also near 61.8% of 77.94/80.37 upleg is seen, as near-term indicators slide into negative territory. To avert immediate downside risk, clear break above 80.00 is required.

Res: 79.50, 79.75, 80.00, 80.13
Sup: 79.27, 79.15, 79.00, 78.60

usdjpy_20121030084934.gif




USD/CHF

Near-term tone softens, as the price slides to initial support at 0.9330 zone, unable to clear 200 day MA and psychological 0.9400 barrier. With 4h studies losing traction, immediate risk is seen on retest of 0.9320/00, 38.2% / 50% of 0.9213/0.9385 rally that would weaken near-term structure. On the other side, break through 0.9400, to confirm near-term bullish stance and re-open important 0.9430/36 barriers.

Res: 0.9379, 0.9385, 0.9400, 0.9430
Sup: 0.9340, 0.9320, 0.9300, 0.9289

usdchf_20121030084908.gif
 
Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
The pair comes under increased pressure at the beginning of European session, after narrow-range consolidative trading during the Asian session. Extension of weakness from yesterday’s upside rejection at 1.3020 and break below 1.2945, completes hourly head and shoulders pattern, opening prospect for further easing, as price broke below 1.2936, Fib 61.8% of 1.2881/1.3020 upleg / broken channel resistance off 1.3170. As near-term indicators dip into negative territory, bears see immediate target at 1.2900 base, previous lows / daily Ichimoku cloud top, loss of which to confirm double-top at 1.3020 and risk return to very strong support zone at 1.2830/00, also 7-week range floor. Initial resistance lies at 1.2945/50 zone, while only lift above 1.2970/80 would ease bear-pressure.

Res: 1.2945, 1.2950, 1.2969, 1.2982
Sup: 1.2920, 1.2900, 1.2881, 1.2840


eurusd_20121101080654.gif




GBP/USD

Near-term rally from 1.6005 higher low, has nearly fully retraced 1.6142/1.6005 reversal, as gains reached 1.6138 so far. Near-term bullish structure and positive sentiment, keep the upside favored for now, as price broke above main bear-trendline and emerges above daily Ichimoku cloud. Clearance of 1.6142 is required to resume rally and open next upside targets at 1.6178 and 1.6200. Corrective dips would face good support at 1.6100, Fib 23.6% and ascending 55 day EMA / broken bear-trendline, with possible further easing to be contained at 1.6080 zone, Fib 38.2% / bull-trendline off 1.5911, to keep near-term bulls intact.

Res: 1.6138, 1.6142, 1.6178, 1.6200
Sup: 1.6119, 1.6100, 1.6085, 1.6075

gbpusd_20121101080633.gif





USD/JPY

The pair continues to move higher, after finding ground at 79.27, with steady recovery, moving above important 80.00 barrier, to hit fresh session high at 80.12. Corrective easing is seen on extended hourlies, should ideally be contained at 79.80/70, Fibonacci supports and 55 day EMA, before bulls re-assert for fresh attempt towards initial barrier at 80.37, 26 Oct high. Loss of 79.70, however, would put near-term bulls on hold and risk stronger reversal.

Res: 80.00, 80.13, 80.37, 80.65
Sup: 79.90, 79.80, 79.70, 79.50

usdjpy_20121101080611.gif



USD/CHF

The pair extends near-term recovery off 0.9275, yesterday’s fresh low, where temporary footstep has been found. Bounce off overnight’s consolidation range top at 0.9320, attempts to complete inverted head and shoulders-like shape, with bullish extension retracing so far 61.8% of 0.9380/0.9275 downleg. Hourly studies are in the positive territory, while 4h chart indicators started to point higher, with regain of very important 0.9385, 200 day MA / daily Ichimoku cloud base, seen as a trigger for possible test of 0.9430/36 double-top. Previous resistances at 0.9320/00, now offer initial supports, with potential loss of the latter to revive bears.

Res: 0.9339, 0.9350, 0.9373, 0.9385
Sup: 0.9320, 0.9311, 0.9300, 0.9275

usdchf_20121101080553.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD
The pair comes under increased pressure at the beginning of European session, after narrow-range consolidative trading during the Asian session. Extension of weakness from yesterday’s upside rejection at 1.3020 and break below 1.2945, completes hourly head and shoulders pattern, opening prospect for further easing, as price broke below 1.2936, Fib 61.8% of 1.2881/1.3020 upleg / broken channel resistance off 1.3170. As near-term indicators dip into negative territory, bears see immediate target at 1.2900 base, previous lows / daily Ichimoku cloud top, loss of which to confirm double-top at 1.3020 and risk return to very strong support zone at 1.2830/00, also 7-week range floor. Initial resistance lies at 1.2945/50 zone, while only lift above 1.2970/80 would ease bear-pressure.

Res: 1.2945, 1.2950, 1.2969, 1.2982
Sup: 1.2920, 1.2900, 1.2881, 1.2840


eurusd_20121101080654.gif




GBP/USD

Near-term rally from 1.6005 higher low, has nearly fully retraced 1.6142/1.6005 reversal, as gains reached 1.6138 so far. Near-term bullish structure and positive sentiment, keep the upside favored for now, as price broke above main bear-trendline and emerges above daily Ichimoku cloud. Clearance of 1.6142 is required to resume rally and open next upside targets at 1.6178 and 1.6200. Corrective dips would face good support at 1.6100, Fib 23.6% and ascending 55 day EMA / broken bear-trendline, with possible further easing to be contained at 1.6080 zone, Fib 38.2% / bull-trendline off 1.5911, to keep near-term bulls intact.

Res: 1.6138, 1.6142, 1.6178, 1.6200
Sup: 1.6119, 1.6100, 1.6085, 1.6075

gbpusd_20121101080633.gif





USD/JPY

The pair continues to move higher, after finding ground at 79.27, with steady recovery, moving above important 80.00 barrier, to hit fresh session high at 80.12. Corrective easing is seen on extended hourlies, should ideally be contained at 79.80/70, Fibonacci supports and 55 day EMA, before bulls re-assert for fresh attempt towards initial barrier at 80.37, 26 Oct high. Loss of 79.70, however, would put near-term bulls on hold and risk stronger reversal.

Res: 80.00, 80.13, 80.37, 80.65
Sup: 79.90, 79.80, 79.70, 79.50

usdjpy_20121101080611.gif



USD/CHF

The pair extends near-term recovery off 0.9275, yesterday’s fresh low, where temporary footstep has been found. Bounce off overnight’s consolidation range top at 0.9320, attempts to complete inverted head and shoulders-like shape, with bullish extension retracing so far 61.8% of 0.9380/0.9275 downleg. Hourly studies are in the positive territory, while 4h chart indicators started to point higher, with regain of very important 0.9385, 200 day MA / daily Ichimoku cloud base, seen as a trigger for possible test of 0.9430/36 double-top. Previous resistances at 0.9320/00, now offer initial supports, with potential loss of the latter to revive bears.

Res: 0.9339, 0.9350, 0.9373, 0.9385
Sup: 0.9320, 0.9311, 0.9300, 0.9275

usdchf_20121101080553.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

I want to know about USD/EUR rate chart.
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro remains under pressure at the beginning of the week, following last Friday’s acceleration lower that tested the upper boundary of strong 1.2830/00 support zone, denting 200 day MA at 1.2829. Overall bearish tone keeps further weakness favored, with test of 1.2800 platform seen likely. Break below 1.2800, 5-week congestion floor, to signal major correction and open 1.2740 zone, mid-June highs / Fib 38.2% of 1.2042/1.3170 rally. Corrective rallies see good barrier at 1.2880/1.2900, previous supports, where gains would be likely capped.

Res: 1.2841, 1.2862, 1.2880, 1.2900
Sup: 1.2813, 1.2800, 1.2740, 1.2700

eurusd_20121105081419.gif




GBP/USD

Negative sentiment continues to dominate on the near-term outlook, as last Friday’s bearish acceleration fully retraced 1.6005/1.6174 upleg, as the price posted fresh session low at 1.6006. Brief corrective action on oversold hourlies did not give many results, with near-term focus at 1.6000 support, also Fib 61.8% of larger 1.5911/1.6174 rally, seen as a trigger for fresh weakness and possible retest of key near-term support at 1.5900. Any bounce is expected to be limited at 20/55 EMA’s bearish crossover at 1.6075 and only break here would provide temporary relief.

Res: 1.6038, 1.6066, 1.6075, 1.6100
Sup: 1.6005, 1.6000, 1.5974, 1.5935

gbpusd_20121105081400.gif



USD/JPY

Corrective pullback off last Friday’s fresh high at 80.67, when the price reached our initial target, weakened hourly structure, with bulls giving way after lower top was posted at 80.55. Also, indicators on 4h chart are starting to descend off overbought territory. However, bullish daily studies remain intact for now, with the latest reversal seen as corrective, as long as 80.15, Fib 38.2% of 79.27/80.67 upleg, reinforced by 20 day EMA and psychological 80.00 level, stay intact. Otherwise, confirmation of failure swing would be a trigger for stronger correction. On the upside, break above 80.67 to open 81.00 next.

Res: 80.37, 80.55, 80.67, 81.00
Sup: 80.26, 80.15, 80.00, 79.90

usdjpy_20121105081340.gif




USD/CHF

Near-term bulls continue to drive the price higher, after the pair found ground at 0.9275 last week and acceleration through 0.9385/0.9400, previous peaks / 200 day MA, and weekly close above here, now testing 0.9430/36 double bottom. Break here is seen as a trigger for stronger correction of 0.9970/0.9213 descend and confirmation of base at 0.9200 zone. With fresh momentum emerging on a daily chart, upside remains favored, however, overextended conditions of hourly studies, may signal pause in current rally. Previous barriers at 0.9400/0.9385, now offer good support.

Res: 0.9436, 0.9461, 0.9500, 0.9523
Sup: 0.9414, 0.9400, 0.9385, 0.9374

usdchf_20121105081324.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro remains under pressure at the beginning of the week, following last Friday’s acceleration lower that tested the upper boundary of strong 1.2830/00 support zone, denting 200 day MA at 1.2829. Overall bearish tone keeps further weakness favored, with test of 1.2800 platform seen likely. Break below 1.2800, 5-week congestion floor, to signal major correction and open 1.2740 zone, mid-June highs / Fib 38.2% of 1.2042/1.3170 rally. Corrective rallies see good barrier at 1.2880/1.2900, previous supports, where gains would be likely capped.

Res: 1.2841, 1.2862, 1.2880, 1.2900
Sup: 1.2813, 1.2800, 1.2740, 1.2700

eurusd_20121105081419.gif




GBP/USD

Negative sentiment continues to dominate on the near-term outlook, as last Friday’s bearish acceleration fully retraced 1.6005/1.6174 upleg, as the price posted fresh session low at 1.6006. Brief corrective action on oversold hourlies did not give many results, with near-term focus at 1.6000 support, also Fib 61.8% of larger 1.5911/1.6174 rally, seen as a trigger for fresh weakness and possible retest of key near-term support at 1.5900. Any bounce is expected to be limited at 20/55 EMA’s bearish crossover at 1.6075 and only break here would provide temporary relief.

Res: 1.6038, 1.6066, 1.6075, 1.6100
Sup: 1.6005, 1.6000, 1.5974, 1.5935

gbpusd_20121105081400.gif



USD/JPY

Corrective pullback off last Friday’s fresh high at 80.67, when the price reached our initial target, weakened hourly structure, with bulls giving way after lower top was posted at 80.55. Also, indicators on 4h chart are starting to descend off overbought territory. However, bullish daily studies remain intact for now, with the latest reversal seen as corrective, as long as 80.15, Fib 38.2% of 79.27/80.67 upleg, reinforced by 20 day EMA and psychological 80.00 level, stay intact. Otherwise, confirmation of failure swing would be a trigger for stronger correction. On the upside, break above 80.67 to open 81.00 next.

Res: 80.37, 80.55, 80.67, 81.00
Sup: 80.26, 80.15, 80.00, 79.90

usdjpy_20121105081340.gif




USD/CHF

Near-term bulls continue to drive the price higher, after the pair found ground at 0.9275 last week and acceleration through 0.9385/0.9400, previous peaks / 200 day MA, and weekly close above here, now testing 0.9430/36 double bottom. Break here is seen as a trigger for stronger correction of 0.9970/0.9213 descend and confirmation of base at 0.9200 zone. With fresh momentum emerging on a daily chart, upside remains favored, however, overextended conditions of hourly studies, may signal pause in current rally. Previous barriers at 0.9400/0.9385, now offer good support.

Res: 0.9436, 0.9461, 0.9500, 0.9523
Sup: 0.9414, 0.9400, 0.9385, 0.9374

usdchf_20121105081324.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro comes under renewed pressure, following brief consolidation above yesterday’s low at 1.2766, with previous strong support at 1.2800, keeping the upside limited for now. Negative near-term sentiment, sees the downside favored, with immediate focus at 1.2760/40 zone, channel support / 09/10 Sep lows / Fib 38.2% of 1.2042/1.3170 rally. Only bounce above 1.2840, yesterday’s high / 20 day EMA, would delay bears.

Res: 1.2800, 1.2825, 1.2841, 1.2862
Sup: 1.2766, 1.2760, 1.2740, 1.2700

eurusd_20121106080254.gif




GBP/USD

The pair holds within broader 1.5911/1.6174 range, with near-term tone turning negative after losing 1.6000 and 1.5974 supports. Losses have so far been contained at 1.5956, with corrective action seen on oversold conditions. Initial barrier lies at 1.6000, near 23.6% of 1.6175/1.5956, while only lift above 1.6030/40, 4h Ichimoku cloud base / Fib 38.2% would provide temporary relief and prevent the pair sliding towards 1.5911, key near-term support.

Res: 1.6000, 1.6038, 1.6066, 1.6075
Sup: 1.5969, 1.5956, 1.5935, 1.5911

gbpusd_20121106080231.gif



USD/JPY

Near-term bulls are losing traction, as pullback from 80.67 peak, cracks important 80.00 support. With hourly studies in the negative territory, the downside remains vulnerable, as 4h indicators are pointing lower. Larger picture, from the other side, holds firm bullish tone, with near-term risk seen on a slide below 78.80, Fib 61.8% of 79.27/80.67 that may trigger retest of 79.50/27 supports. Conversely, regain of 80.40 zone, would shift focus higher again.

Res: 80.30, 80.37, 80.55, 80.67
Sup: 79.96, 79.80, 79.50, 79.27

usdjpy_20121106080209.gif




USD/CHF

The pair consolidates the latest rally that broke above near-term range top at 0.9430 zone and posted fresh high at 0.9449. Overall bullish tone remains intact, however, overbought conditions on 4h studies and appearance of MACD bearish divergence on hourly chart, may signal further hesitation on the way towards 0.9500, round figure / Fibonacci barrier. Any reversal sees good support at 0.9400/0.9385, while only loss of the latter, would be a signal of stronger corrective action.

Res: 0.9449, 0.9461, 0.9500, 0.9523
Sup: 0.9428, 0.9400, 0.9385, 0.9374

usdchf_20121106080153.gif
 
Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

The Euro bounces strongly on dollar-negative US elections results, leaving temporary base at 1.2770 zone, with break below important 1.2800 support, proved to be false for now. With hourly bulls gaining pace and indicators well in the positive territory, 4h chart outlook shows prevailing bear-trend is now fading, but to give more credibility and confirm reversal, break above important 1.2880/1.2900 zone (previous base / daily Ichimoku cloud top / 55 day EMA / channel resistance) is required. Sustained break above 1.2900 handle, between 50 % and 61.8% of 1.3020/1.2762 descend, would avert immediate downside risk and bring the pair back to two-month range. On the downside, 1.2840/25 zone (05 Nov high / 200 day MA), offers good support, while slide below 1.2800 would signal resumption of larger downtrend from 1.3138.

Res: 1.2873, 1.2880, 1.2890, 1.2900
Sup: 1.2840, 1.2825, 1.2800, 1.2783

eurusd_20121107080307.gif




GBP/USD

Hourly structure turns positive, as the price finds footstep at 1.5956, with subsequent bounce through 1.6000 handle retracing 38.2% of 1.6174/1.5956 descend at 1.6040. As 4h studies start to point higher, break here, also 55 day EMA and regain of 1.6090, Fib 61.8% / 1.6100, round figure resistance, would confirm near-term bullish stance. Otherwise, lower boundaries of near-term range, would remain in focus. Daily structure is in neutral mode, as the price remains entrenched within 1.5900/1.6170 range, since mid-October.

Res: 1.6040, 1.6066, 1.6091, 1.6100
Sup: 1.6024, 1.6000, 1.5996, 1.5967

gbpusd_20121107080237.gif



USD/JPY

Near-term price action moves in a sideways mode, as previous high at 80.67 stays intact for now and downside remains protected at 80.00 and 79.80, overnight’s spike low and 61.8% of 79.27/80.67 upleg. Hourly studies are still in the negative zone, while 4h indicators are losing traction. Regain of yesterday’s high at 80.43 to improve and shift focus higher. Conversely, losing 80.00/79.80 support zone, would revive bears and open way for stronger reversal towards Fib 38.2% of 77.94/80.67 at 79.63 and key near-term support at 79.27, 30 Oct low / 50% retracement.

Res: 80.43, 80.55, 80.67, 81.00
Sup: 80.00, 79.80, 79.63, 79.27

usdjpy_20121107080157.gif




USD/CHF

The pair loses ground after unsuccessful attempt to clear 0.9430/36 barrier and fresh weakness below 0.9400 handle, as signaled by hourly RSI and MACD divergence. With hourly indicators in the negative territory and 4h ones descending from overbought area, further correction is seen likely, as the price cracks 200 day MA and daily Ichimoku cloud base, with Fibonacci supports at 0.9360 and 0.9335, seen next. Loss of 0.9300 handle, also Fib 61.8% of 0.9213/0.9454, would be bearish. On the upside, lift above initial 0.9400 barrier, is required to re-focus 0.9436/54.

Res: 0.9400, 0.9418, 0.9448, 0.9454
Sup: 0.9379, 0.9362, 0.9335, 0.9305

usdchf_20121107080134.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro bounces strongly on dollar-negative US elections results, leaving temporary base at 1.2770 zone, with break below important 1.2800 support, proved to be false for now. With hourly bulls gaining pace and indicators well in the positive territory, 4h chart outlook shows prevailing bear-trend is now fading, but to give more credibility and confirm reversal, break above important 1.2880/1.2900 zone (previous base / daily Ichimoku cloud top / 55 day EMA / channel resistance) is required. Sustained break above 1.2900 handle, between 50 % and 61.8% of 1.3020/1.2762 descend, would avert immediate downside risk and bring the pair back to two-month range. On the downside, 1.2840/25 zone (05 Nov high / 200 day MA), offers good support, while slide below 1.2800 would signal resumption of larger downtrend from 1.3138.

Res: 1.2873, 1.2880, 1.2890, 1.2900
Sup: 1.2840, 1.2825, 1.2800, 1.2783

eurusd_20121107080307.gif




GBP/USD

Hourly structure turns positive, as the price finds footstep at 1.5956, with subsequent bounce through 1.6000 handle retracing 38.2% of 1.6174/1.5956 descend at 1.6040. As 4h studies start to point higher, break here, also 55 day EMA and regain of 1.6090, Fib 61.8% / 1.6100, round figure resistance, would confirm near-term bullish stance. Otherwise, lower boundaries of near-term range, would remain in focus. Daily structure is in neutral mode, as the price remains entrenched within 1.5900/1.6170 range, since mid-October.

Res: 1.6040, 1.6066, 1.6091, 1.6100
Sup: 1.6024, 1.6000, 1.5996, 1.5967

gbpusd_20121107080237.gif



USD/JPY

Near-term price action moves in a sideways mode, as previous high at 80.67 stays intact for now and downside remains protected at 80.00 and 79.80, overnight’s spike low and 61.8% of 79.27/80.67 upleg. Hourly studies are still in the negative zone, while 4h indicators are losing traction. Regain of yesterday’s high at 80.43 to improve and shift focus higher. Conversely, losing 80.00/79.80 support zone, would revive bears and open way for stronger reversal towards Fib 38.2% of 77.94/80.67 at 79.63 and key near-term support at 79.27, 30 Oct low / 50% retracement.

Res: 80.43, 80.55, 80.67, 81.00
Sup: 80.00, 79.80, 79.63, 79.27

usdjpy_20121107080157.gif




USD/CHF

The pair loses ground after unsuccessful attempt to clear 0.9430/36 barrier and fresh weakness below 0.9400 handle, as signaled by hourly RSI and MACD divergence. With hourly indicators in the negative territory and 4h ones descending from overbought area, further correction is seen likely, as the price cracks 200 day MA and daily Ichimoku cloud base, with Fibonacci supports at 0.9360 and 0.9335, seen next. Loss of 0.9300 handle, also Fib 61.8% of 0.9213/0.9454, would be bearish. On the upside, lift above initial 0.9400 barrier, is required to re-focus 0.9436/54.

Res: 0.9400, 0.9418, 0.9448, 0.9454
Sup: 0.9379, 0.9362, 0.9335, 0.9305

usdchf_20121107080134.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro holds bearish momentum, as yesterday’s rally to 1.2880 barrier was short-lived. Disappointing fundamentals, released yesterday, out additional pressure on the pair, along with weak near-term technicals. Brief break below 1.2735 platform and Fib 38.2% of 1.2042/1.3170, tests channel support at 1.2720, with figure support at 1.2700, coming in focus. Further extensions lower to face support at 1.2644, daily Ichimoku cloud base / 90 day MA. Any corrective action sees 1.2800 as initial resistance, while break above 1.2865/75, channel resistance / yesterday’s high, is required to ease bear-pressure.

Res: 1.2740, 1.2775, 1.2800, 1.2825
Sup: 1.2720, 1.2700, 1.2642, 1.2606

eurusd_20121108102427.gif



GBP/USD

The negative near-term sentiment drives the pair lower, with initial support at 1.5950 being cracked. Yesterday’s bull- rally through 1.6000 and quick reversal to the initial levels, confirmed near-term bullish stance. Overall negative tone in the near-term studies, keeps the downside under pressure, with descending 20 day EMA limiting the upside at 1.6000 for now. Clear break below.5950 to focus 1.5900 base and range floor initially, with bearish continuation seen towards 200 day MA at 1.5847. Conversely, bounce through 1.6000, would ease immediate bear-pressure, however, only lift above 1.6040 would prevent fresh weakness in favor of stronger recovery.

Res: 1.5968, 1.6000, 1.6040, 1.6066
Sup: 1.5939, 1.5911, 1.5900, 1.5888

gbpusd_20121108102407.gif



USD/JPY

The near-term base and Fibonacci / Ichimoku support at 79.80 zone remains under pressure, as double-failure at 80.40 and subsequent slide below 80.00 support, turn near-term tone more negative. With 4h indicators sliding into negative territory and descending EMA’s capping the upside, immediate risk is seen on a break below 79.80/75 that would trigger stronger corrective action towards 78.63, Fib 38.2% of 77.94/80.67 rally and key near-term level at 79.27, 30 Oct low / 50% retracement. Only lift above 80.40 would shift focus higher again.

Res: 80.00, 80.43, 80.55, 80.67
Sup: 79.80, 79.75, 79.63, 79.27

usdjpy_20121108102343.gif



USD/CHF

The pair maintains near-term positive tone, resuming near-term bulls after brief consolidation. As the price breaks above yesterday’s high at 0.9470. Overall bullish structure keeps the initial upside target at 0.9500, round figure / Fib 38.2% of 0.9970/0.9213 descend in focus, with break here to open way for stronger correction through 0.9534, 90 day MA, towards 50% retracement at 0.9591. Any dips should be contained at/above 0.9400/0.9380, to keeps bulls in play. Increased downside risk would be seen on a loss of 0.9380 breakpoint, also 200 day MA.

Res: 0.9475, 0.9500, 0.9538, 0.9578
Sup: 0.9462, 0.9454, 0.9436, 0.9430


usdchf_20121108102325.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro holds bearish momentum, as yesterday’s rally to 1.2880 barrier was short-lived. Disappointing fundamentals, released yesterday, out additional pressure on the pair, along with weak near-term technicals. Brief break below 1.2735 platform and Fib 38.2% of 1.2042/1.3170, tests channel support at 1.2720, with figure support at 1.2700, coming in focus. Further extensions lower to face support at 1.2644, daily Ichimoku cloud base / 90 day MA. Any corrective action sees 1.2800 as initial resistance, while break above 1.2865/75, channel resistance / yesterday’s high, is required to ease bear-pressure.

Res: 1.2740, 1.2775, 1.2800, 1.2825
Sup: 1.2720, 1.2700, 1.2642, 1.2606

eurusd_20121108102427.gif



GBP/USD

The negative near-term sentiment drives the pair lower, with initial support at 1.5950 being cracked. Yesterday’s bull- rally through 1.6000 and quick reversal to the initial levels, confirmed near-term bullish stance. Overall negative tone in the near-term studies, keeps the downside under pressure, with descending 20 day EMA limiting the upside at 1.6000 for now. Clear break below.5950 to focus 1.5900 base and range floor initially, with bearish continuation seen towards 200 day MA at 1.5847. Conversely, bounce through 1.6000, would ease immediate bear-pressure, however, only lift above 1.6040 would prevent fresh weakness in favor of stronger recovery.

Res: 1.5968, 1.6000, 1.6040, 1.6066
Sup: 1.5939, 1.5911, 1.5900, 1.5888

gbpusd_20121108102407.gif



USD/JPY

The near-term base and Fibonacci / Ichimoku support at 79.80 zone remains under pressure, as double-failure at 80.40 and subsequent slide below 80.00 support, turn near-term tone more negative. With 4h indicators sliding into negative territory and descending EMA’s capping the upside, immediate risk is seen on a break below 79.80/75 that would trigger stronger corrective action towards 78.63, Fib 38.2% of 77.94/80.67 rally and key near-term level at 79.27, 30 Oct low / 50% retracement. Only lift above 80.40 would shift focus higher again.

Res: 80.00, 80.43, 80.55, 80.67
Sup: 79.80, 79.75, 79.63, 79.27

usdjpy_20121108102343.gif



USD/CHF

The pair maintains near-term positive tone, resuming near-term bulls after brief consolidation. As the price breaks above yesterday’s high at 0.9470. Overall bullish structure keeps the initial upside target at 0.9500, round figure / Fib 38.2% of 0.9970/0.9213 descend in focus, with break here to open way for stronger correction through 0.9534, 90 day MA, towards 50% retracement at 0.9591. Any dips should be contained at/above 0.9400/0.9380, to keeps bulls in play. Increased downside risk would be seen on a loss of 0.9380 breakpoint, also 200 day MA.

Res: 0.9475, 0.9500, 0.9538, 0.9578
Sup: 0.9462, 0.9454, 0.9436, 0.9430


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

EUR/USD

The Euro ticks higher after finding temporary ground at 1.2700 zone, also channel support, but lacking momentum for break above initial 1.2800 barrier, as 4h 20 day EMA limits gains at 1.2780 zone for now. Slight improvement seen on hourly studies, requires clearance of 1.2800 and 200 day MA at 1.2820, to signal recovery and possible extension towards important 1.2880/1.2900 barriers. Otherwise, 1.2700 zone would stay at risk, as break here to signal resumption of broader bear-trend and expose 1.2644, 90 day MA and 1.2606, 50% retracement of 1.2042/1.3170 rally.

Res: 1.2787, 1.2800, 1.2820, 1.2856
Sup: 1.2732, 1.2716, 1.2700, 1.2644

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GBP/USD

The pair trades in a consolidative sideways mode, above yesterday’s fresh low at 1.5928, with brief break above initial 1.6000 resistance, being unable to hold gains. Hourly studies maintain neutral tone, while more bearish outlook is seen on 4h char, as indicators are in the negative territory and descending 55 day EMA caps at 1.6020 for now. However, formation of diamond pattern on 4h chart, may be a signal for reversal, with lift above 1.6020/40 barriers, required to accelerate gains. Otherwise, more risk would be seen towards the key supports at 1.5900 zone, below which to trigger stronger reversal of 1.5267/1.6308 ascend and open 1.5847, 200 day MA.

Res: 1.6000, 1.6020, 1.6040, 1.6066
Sup: 1.5968, 1.5928, 1.5911, 1.5900

gbpusd_20121109080550.gif



USD/JPY

The pair remains at the back foot, as loss of 79.80 support triggered fresh weakness that fully retraced 79.27/80.67 and reversed 50% of larger 77.94/80.67 ascend. With negative tone dominating on lower timeframes studies, more risk could be seen at the downside, as clear break below 79.27, would open 79.00, round figure / Fib 61.8%. Bearish 20/55 day EMA’s crossover at 80.00, increases the pressure and only sustained break here would provide relief.

Res: 79.75, 80.00, 80.43, 80.55
Sup: 79.27, 79.12, 79.00, 78.60

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USD/CHF

The pair consolidates yesterday’s gains that approached our initial target at 0.9500. As overall bullish structure remains intact for now and corrective dips being contained above important 0.9400 support, near-term focus remains at the upside. Clearance of psychological 0.9500 barrier, also Fib 38.2% of 0.9970/0.9213, to open 0.9534, 90 day MA. Conversely, break below 0.9400, also 200 day MA, would risk fresh weakness.

Res: 0.9467, 0.9481, 0.9500, 0.9534
Sup: 0.9436, 0.9427, 0.9400, 0.9380

usdchf_20121109080513.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The pair maintains bearish tone that was confirmed on a break blow 200 day MA and important 1.2800 support that confirmed daily double-top formation. Temporary base at 1.2700 zone comes under pressure, as fresh weakness erase overnight’s recovery to 1.2738. As 1.2700 has already been cracked and hourly 55 day EMA caps the upside, with hourly studies losing momentum, immediate focus comes on 1.2700/1.2689, last Friday’s low and bear-channel support. Break here to signal resumption of broader downmove from 1.3138, through 90 day MA at 1.2650, towards 50% retracement of 1.2042/1.3170 July/Sep rally at 1.2606. Alternative scenario sees further consolidation above 1.2700, with strong barrier at 1.2780/1.2800, expected to cap rallies.

Res: 1.2738, 1.2761, 1.2787, 1.2800
Sup: 1.2700, 1.2689, 1.2650, 1.2606

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GBP/USD

Near-term bears resume on last Friday’s slide through 1.5950/30, last week’s consolidation range floor, with violation of important 1.5900 support, Fib 38.2% of 1.5267/1.6308 ascend / 90 day MA, keeping the downside in focus. Fresh weakness from overnight’s correction top at 1.5914, pressures last Friday’s fresh low at 1.5886, loss of which to look for test of 200 day MA at 1.5848 initially. Previous strong support at 1.5950, reinforced by 20 day EMA, offers initial resistance, however, only bounce through 1.6000, round figure / 55 day EMA, would provide relief.

Res: 1.5914, 1.5928, 1.5950, 1.5970
Sup: 1.5900, 1.5886, 1.5850, 1.5800

gbpusd_20121112080559.gif



USD/JPY

The pair remains maintains near-term bearish tone, as pullback from 80.67, 02 Nov high dips close to psychological 79.00 support, also Fib 61.8% of 77.94/80.67 rally, where temporary base was found. Corrective bounce was so far limited by 55 day EMA that turns in the sideways mode on hourly chart, with last Friday Doji, showing indecision. Any further retracement needs to clear 80.00 barrier, Fib 61.8% of 80.67/79.06 downleg, to shift focus higher, while violation of 79.00 would signal stronger correction of 77.12/80.67 upleg.

Res: 79.55, 79.75, 80.00, 80.43
Sup: 79.30, 79.06, 79.00, 78.75

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USD/CHF

Near-term bulls remain in play, as the pair approaches initial target at 0.9500 on a second attempt. Brief corrective action off last Friday’s high at 0.9497 was contained at 0.9466, by ascending 55 day EMA, with fresh bullish momentum looking for resumption of rally from 0.9213 through 0.9500, to focus 0.9528, 90 day MA and psychological 0.9600 barrier, also 50% of 0.9970/0.9213 descend. Initial support lies at 0.9466, ahead of previous strong barrier at 0.9430 zone, while only loss of 0.9400, also 200 day MA.

Res: 0.9500, 0.9528, 0.9550, 0.9591
Sup: 0.9466, 0.9450, 0.9427, 0.9400

usdchf_20121112080519.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The pair maintains bearish tone that was confirmed on a break blow 200 day MA and important 1.2800 support that confirmed daily double-top formation. Temporary base at 1.2700 zone comes under pressure, as fresh weakness erase overnight’s recovery to 1.2738. As 1.2700 has already been cracked and hourly 55 day EMA caps the upside, with hourly studies losing momentum, immediate focus comes on 1.2700/1.2689, last Friday’s low and bear-channel support. Break here to signal resumption of broader downmove from 1.3138, through 90 day MA at 1.2650, towards 50% retracement of 1.2042/1.3170 July/Sep rally at 1.2606. Alternative scenario sees further consolidation above 1.2700, with strong barrier at 1.2780/1.2800, expected to cap rallies.

Res: 1.2738, 1.2761, 1.2787, 1.2800
Sup: 1.2700, 1.2689, 1.2650, 1.2606

eurusd_20121112080618.gif




GBP/USD

Near-term bears resume on last Friday’s slide through 1.5950/30, last week’s consolidation range floor, with violation of important 1.5900 support, Fib 38.2% of 1.5267/1.6308 ascend / 90 day MA, keeping the downside in focus. Fresh weakness from overnight’s correction top at 1.5914, pressures last Friday’s fresh low at 1.5886, loss of which to look for test of 200 day MA at 1.5848 initially. Previous strong support at 1.5950, reinforced by 20 day EMA, offers initial resistance, however, only bounce through 1.6000, round figure / 55 day EMA, would provide relief.

Res: 1.5914, 1.5928, 1.5950, 1.5970
Sup: 1.5900, 1.5886, 1.5850, 1.5800

gbpusd_20121112080559.gif



USD/JPY

The pair remains maintains near-term bearish tone, as pullback from 80.67, 02 Nov high dips close to psychological 79.00 support, also Fib 61.8% of 77.94/80.67 rally, where temporary base was found. Corrective bounce was so far limited by 55 day EMA that turns in the sideways mode on hourly chart, with last Friday Doji, showing indecision. Any further retracement needs to clear 80.00 barrier, Fib 61.8% of 80.67/79.06 downleg, to shift focus higher, while violation of 79.00 would signal stronger correction of 77.12/80.67 upleg.

Res: 79.55, 79.75, 80.00, 80.43
Sup: 79.30, 79.06, 79.00, 78.75

usdjpy_20121112080538.gif




USD/CHF

Near-term bulls remain in play, as the pair approaches initial target at 0.9500 on a second attempt. Brief corrective action off last Friday’s high at 0.9497 was contained at 0.9466, by ascending 55 day EMA, with fresh bullish momentum looking for resumption of rally from 0.9213 through 0.9500, to focus 0.9528, 90 day MA and psychological 0.9600 barrier, also 50% of 0.9970/0.9213 descend. Initial support lies at 0.9466, ahead of previous strong barrier at 0.9430 zone, while only loss of 0.9400, also 200 day MA.

Res: 0.9500, 0.9528, 0.9550, 0.9591
Sup: 0.9466, 0.9450, 0.9427, 0.9400

usdchf_20121112080519.gif
 
Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

The pair remains under pressure as slide below 1.2700 figure, posting fresh low in European session. Overall negative picture sees 1.2606, 50% of 1.2042/1.3170 rally in near-term focus, with any bounce seen as corrective, with immediate resistance at 1.2700 and more significant 1.2738/50, yesterday’s high / Fib 38.2% of 1.2875/1.2672 descend. Only penetration through 1.2790/1.2800, would delay bears in favor of stronger correction.

Res: 1.2700, 1.2738, 1.2750, 1.2774
Sup: 1.2660, 1.2606, 1.2588, 1.2558

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GBP/USD

Break below strong support at 1.5900 zone, Fibonacci support / daily Ichimoku cloud base, opens way for fresh weakness, with fresh slide approaching 200 day MA at 1.5848. Consolidative / corrective action above here is likely as 4h studies are extended, while hourly MACD shows bullish divergence. Immediate barriers lie at 1.5900/20 zone, round figure / yesterday’s high / Fib 38.2% of 1.6018/1.5857 decline, while regain of 1.5950/60 would avert immediate downside risk. On the other side, break below 200 day MA, to expose 1.5800, round figure and 1.5787, 50% of 1.5267/1.6308 rally.

Res: 1.5914, 1.5914, 1.5928, 1.5950
Sup: 1.5857, 1.5848, 1.5800, 1.5787

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USD/JPY

The pair remains in a narrow consolidative range above 79.00 handle, following repeated Doji. However, the downside remains in focus, as the price action was capped by descending 20 day EMA at 79.63 and near-term studies hold negative tone. Penetration through 80.00 is required to shift focus higher, otherwise, violation of 79.00 support zone would signal fresh extension of downmove from 80.67 and expose 78.50, Fibonacci support.

Res: 79.51, 79.63, 79.75, 79.87
Sup: 79.21, 79.06, 79.00, 78.75

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USD/CHF

The pair cracks our target and barrier at 0.9500, to signals continuation of uptrend from 0.9213. Sustained break here, to face initial barrier at 0.9524, 90 day MA, ahead of more significant 0.9591/0.9600, 50% of 0.9970/0.9213 / round figure and next upside target. Yesterday’s higher platform at 0.9460/70 zone, along with 20 day EMA, offers initial support.

Res: 0.9504, 0.9524, 0.9550, 0.9591
Sup: 0.9489, 0.9466, 0.9450, 0.9427

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

EUR/USD

The pair remains under pressure as slide below 1.2700 figure, posting fresh low in European session. Overall negative picture sees 1.2606, 50% of 1.2042/1.3170 rally in near-term focus, with any bounce seen as corrective, with immediate resistance at 1.2700 and more significant 1.2738/50, yesterday’s high / Fib 38.2% of 1.2875/1.2672 descend. Only penetration through 1.2790/1.2800, would delay bears in favor of stronger correction.

Res: 1.2700, 1.2738, 1.2750, 1.2774
Sup: 1.2660, 1.2606, 1.2588, 1.2558

eurusd_20121113091330.gif




GBP/USD

Break below strong support at 1.5900 zone, Fibonacci support / daily Ichimoku cloud base, opens way for fresh weakness, with fresh slide approaching 200 day MA at 1.5848. Consolidative / corrective action above here is likely as 4h studies are extended, while hourly MACD shows bullish divergence. Immediate barriers lie at 1.5900/20 zone, round figure / yesterday’s high / Fib 38.2% of 1.6018/1.5857 decline, while regain of 1.5950/60 would avert immediate downside risk. On the other side, break below 200 day MA, to expose 1.5800, round figure and 1.5787, 50% of 1.5267/1.6308 rally.

Res: 1.5914, 1.5914, 1.5928, 1.5950
Sup: 1.5857, 1.5848, 1.5800, 1.5787

gbpusd_20121113091312.gif




USD/JPY

The pair remains in a narrow consolidative range above 79.00 handle, following repeated Doji. However, the downside remains in focus, as the price action was capped by descending 20 day EMA at 79.63 and near-term studies hold negative tone. Penetration through 80.00 is required to shift focus higher, otherwise, violation of 79.00 support zone would signal fresh extension of downmove from 80.67 and expose 78.50, Fibonacci support.

Res: 79.51, 79.63, 79.75, 79.87
Sup: 79.21, 79.06, 79.00, 78.75

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USD/CHF

The pair cracks our target and barrier at 0.9500, to signals continuation of uptrend from 0.9213. Sustained break here to face initial barrier at 0.9524, 90 day MA, ahead of more significant 0.9591/0.9600, 50% of 0.9970/0.9213 / round figure and next upside target. Yesterday’s higher platform at 0.9460/70 zone, along with 20 day EMA, offers initial support.

Res: 0.9504, 0.9524, 0.9550, 0.9591
Sup: 0.9489, 0.9466, 0.9450, 0.9427

usdchf_20121113091228.gif
 
Re: Short Term Technical Analysis for Majors (Updated 2xDaily)

EUR/USD

The Euro shows a basing attempt at 1.2660, two-month low, where daily 90 day MA contained dips. Double Doji formation suggests that pause in a larger downmove from 1.3138 is likely, as the price moves above 1.2700 barrier, where yesterday’s close occurred. Improving hourly conditions are supportive, however, as the price struggles to clear 4h 20 day EMA, break of which is seen as a trigger for stronger recovery, with strong barrier at 1.2790/2800 zone. On the other side, loss of 1.2700 handle would risk retest of 1.2660 and possible resumption of downtrend towards 1.2606, 50% of 1.2042/1.3170 rally.

Res: 1.2727, 1.2740, 1.2768, 1.2787
Sup: 1.2700, 1.2670, 1.2660, 1.2606

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GBP/USD

The pair remains in a sideways trading mode, holding above 1.5857, yesterday’s fresh low, where 200 day MA limited descend from 1.6174, 01 Nov peak. Upside failure to hold gains above 1.5900, sees the near-term price action entrenched within narrow range, with hourly studies in neutral mode. However, overextended 4h chart conditions, with indicators pointing higher, along with formation of morning star patter on a daily chart, could be a signal for stronger corrective action. Clearance of initial barrier at 1.5914/19, yesterday’s high / Fib 38.2% of 1.6018/1.5857, to spark stronger rally, as today’s above these levels is required to complete morning star pattern. Conversely, loss of 200 day MA, would further weaken near-term structure and open 1.5800, round figure and 1.5761, trendline support.

Res: 1.5892, 1.5900, 1.5914, 1.5919
Sup: 1.5865, 1.5857, 1.5848, 1.5800

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USD/JPY

Near-term bulls came fully in play, as the pair breaks above recent range top and 200 day MA at 79.60, rallying towards 80.00, initial target and breakpoint. Near-term studies turned positive, however, hesitation at 80.00 could be seen on overbought hourly studies. Clear break here to signal higher low at 79.06 and shift focus towards the upper barriers at 79.42/55 and key resistance at 80.67, 02 Nov peak. Previous barrier at 79.60, now acts as initial support, protecting 79.00, key near-term support.

Res: 80.00, 80.43, 80.55, 80.67
Sup: 79.80, 79.60, 79.34, 79.20

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USD/CHF

The pair losses traction, as repeated failure to clear 0.9500 barrier, resulted in fresh pullback. Dips so far reached 0.9450, near 23.6% of 0.9275/0.9511 rally, threatening test of more significant 0.9430, double-top and psychological / 200 day MA 0.9400 support. Hourly studies are negative, with 4h chart indicators in descending mode, suggesting that correction could extend lower. Main risk is seen on violation of 0.9400 handle that would sideline near-term bulls.

Res: 0.9473, 0.9500, 0.9511, 0.9524
Sup: 0.9450, 0.9427, 0.9400, 0.9380

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