Short Term Technical Analysis for Majors

[WindsorBrokers]

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

EUR/USD

The single currency trades in a consolidative mode, after posting fresh high at 1.3074 yesterday. With previous high at 1.3046, protecting the downside along with ascending 20 day EMA and yesterday’s close above the latter, scope exists for attempt at initial 1.3100 target, clearance of which to open way towards key barriers at 1.3138 and 1.3170. However, further consolidative / corrective action cannot be ruled out, as 4h indicators are near overbought zone and moving sideways. Psychological 1.3000 support, also Fib 38.2% of 1.2879/1.3074 upleg and daily Ichimoku cloud top, is expected to contain any stronger pullback.

Res: 1.3074, 1.3082, 1.3100, 1.3138
Sup: 1.3045, 1.3028, 1.3000, 1.2977

GBP/USD

The pair maintains positive sentiment that emerged on yesterday’s break above 1.6050 congestion top and cracked initial target at 1.6100, spiking to 1.6114 so far. Shallow correction that was contained by 20 day EMA at 1.6085, keeps bulls in play for final push towards 1.6174/78 Oct / Now double-top, with interim barriers at 1.6124, Fib 61.8% of 1.6308/1.5826 and 1.6140, 26 Oct high. Overnight’s lows at 1.6085, offer immediate support, ahead of more significant 1.6050, previous resistance, reinforced by ascending 55 day EMA.

Res: 1.6114, 1.6140, 1.6174, 1.6178
Sup: 1.6085, 1.6060, 1.6050, 1.6026

USD/JPY

The pair comes under increased pressure, following upside rejection at 82.36, with fresh weakness attempting below 82.00 handle. Hourly studies remain negative, with 4h ones breaking into the negative territory. This increases risk of further weakness and test key near-term support and range floor at 81.68, 28 Nov low. Break here is seen as a trigger for stronger corrective action towards 81.40/00, Fibonacci support, also as confirmation of near-term double-top formation that would put near-term bulls on hold. Only bounce through yesterday’s intraday high at 82.36, would avert immediate downside risk.

Res: 82.00, 82.15, 82.36, 82.50
Sup: 81.68, 81.58, 81.39, 81.00

USD/CHF

The pair enters near-term consolidative phase, just above fresh low at 0.9239 and key support and near-term target at 0.9213. With hourly studies gaining traction, further sideways movements are likely, however, weak 4h structure and upside being limited by descending 20 day EMA at 0.9260 zone, does not leave much room for any significant corrective action.

Res: 0.9269, 0.9279, 0.9290, 0.9300
Sup: 0.9250, 0.9239, 0.9213, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The Euro’s near-term bulls remain unobstructed, as the single currency clears trendline resistance at 1.3082 and psychological 1.3100 barrier, with fresh high posted at 1.3123, levels last time seen in mid-October. Strong bullish tone, shown on lower and larger timeframes studies, with strong momentum being established, keeps the key upside targets at 1.3138/70 in focus, as potential break here would signal fresh bullish phase of the larger uptrend from 1.2042, 24 July annual low that was interrupted by broader 1.3170/1.2660 correction. Immediate supports stand and 1.3070, 03 Dec high / 55 day EMA and 1.3046, 03 Dec intraday high / 04 Dec low.

Res: 1.3123, 1.3138, 1.3170, 1.3200
Sup: 1.3100, 1.3070, 1.3046, 1.3020

GBP/USD

Near-term structure remains positive, as the pair regains 1.6100 handle, following pullback from yesterday’s fresh high at 1.6129 that found footstep at 1.6087. Weakening hourly studies, however, warn of possible hesitation and reversal in case of failure to clear recent high, also Fib 61.8% of 1.6308/1.5826 descend. The notion is also supported by 4h indicators that start to point lower. Loss of 1.6100/1.6087 would confirm pause in current rally and open way for corrective action towards strong supports at 1.6050 and 1.6000. Conversely, lift above 1.6129, is expected to expose key barriers and double-top at 1.6174/78.

Res: 1.6119, 1.6129, 1.6174, 1.6178
Sup: 1.6100, 1.6087, 1.6060, 1.6050

USD/JPY

The pair averts immediate downside risk after finding support at 81.70, near-term range floor and subsequent bounce retraces near 61.8% of 82.83/81.70 downleg at 82.33. Hourly studies turned positive, however, still weak conditions on 4h chart, keep the downside risk in play. Unless 82.50/60 barriers are regained, likely near-term scenario would be further range trading, with focus at the lower boundaries of the range. Loss of 81.70 to signal stronger corrective action.

Res: 82.33, 82.50, 82.60, 82.74
Sup: 82.12, 82.00, 81.68, 81.58

USD/CHF

The pair remains near-term consolidative phase, holding above fresh low at 0.9239 and key support and near-term target at 0.9213. With hourly studies losing ground again, as 0.9300 barrier capped corrective attempts and 4h indicators holding in the negative territory, downside remains in near-term focus. Attack at key support at 0.9213 is seen as likely scenario, with break here to open way for resumption of broader downtrend from 0.9970, interrupted by corrective / consolidative 0.9213/0.9511 phase.

Res: 0.9273, 0.9292, 0.9300, 0.9339
Sup: 0.9244, 0.9239, 0.9213, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The Euro’s near-term bulls remain unobstructed, as the single currency clears trendline resistance at 1.3082 and psychological 1.3100 barrier, with fresh high posted at 1.3123, levels last time seen in mid-October. Strong bullish tone, shown on lower and larger timeframes studies, with strong momentum being established, keeps the key upside targets at 1.3138/70 in focus, as potential break here would signal fresh bullish phase of the larger uptrend from 1.2042, 24 July annual low that was interrupted by broader 1.3170/1.2660 correction. Immediate supports stand and 1.3070, 03 Dec high / 55 day EMA and 1.3046, 03 Dec intraday high / 04 Dec low.

Res: 1.3123, 1.3138, 1.3170, 1.3200
Sup: 1.3100, 1.3070, 1.3046, 1.3020

GBP/USD

Near-term structure remains positive, as the pair regains 1.6100 handle, following pullback from yesterday’s fresh high at 1.6129 that found footstep at 1.6087. Weakening hourly studies, however, warn of possible hesitation and reversal in case of failure to clear recent high, also Fib 61.8% of 1.6308/1.5826 descend. The notion is also supported by 4h indicators that start to point lower. Loss of 1.6100/1.6087 would confirm pause in current rally and open way for corrective action towards strong supports at 1.6050 and 1.6000. Conversely, lift above 1.6129, is expected to expose key barriers and double-top at 1.6174/78.

Res: 1.6119, 1.6129, 1.6174, 1.6178
Sup: 1.6100, 1.6087, 1.6060, 1.6050

USD/JPY

The pair averts immediate downside risk after finding support at 81.70, near-term range floor and subsequent bounce retraces near 61.8% of 82.83/81.70 downleg at 82.33. Hourly studies turned positive, however, still weak conditions on 4h chart, keep the downside risk in play. Unless 82.50/60 barriers are regained, likely near-term scenario would be further range trading, with focus at the lower boundaries of the range. Loss of 81.70 to signal stronger corrective action.

Res: 82.33, 82.50, 82.60, 82.74
Sup: 82.12, 82.00, 81.68, 81.58

USD/CHF

The pair remains near-term consolidative phase, holding above fresh low at 0.9239 and key support and near-term target at 0.9213. With hourly studies losing ground again, as 0.9300 barrier capped corrective attempts and 4h indicators holding in the negative territory, downside remains in near-term focus. Attack at key support at 0.9213 is seen as likely scenario, with break here to open way for resumption of broader downtrend from 0.9970, interrupted by corrective / consolidative 0.9213/0.9511 phase.

Res: 0.9273, 0.9292, 0.9300, 0.9339
Sup: 0.9244, 0.9239, 0.9213, 0.9200

 

[WindsorBrokers]

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

EUR/USD

Near-term bulls are sidelined, as the pair lost initial 1.3100 handle and plunged on acceleration through psychological 1.3000 support. Bears are starting fresh extension lower, following brief consolidation above 1.2950/40 double Fibonacci support, 38.2% of 1.2660/1.3125 and 76.4% of 1.2879/1.3125. Negative sentiment and near-term studies below their midlines, keep the downside favored, with immediate downside target at 1.2900/1.2880, 50% retracement / 28 Nov low. Any corrective action would face initial barrier at 1.3000 and rallies expected to be capped at 1.3040. With daily studies reversing from overbought territory, scope exists for stronger corrective action and formation of triple-top that would be confirmed on a loss of 1.2800, trendline support.

Res: 1.2950, 1.2971, 1.3000, 1.3040
Sup: 1.2900, 1.2880, 1.2838, 1.2800

GBP/USD

Near-term structure turns negative, as the pair spiraled, following yesterday’s upside rejection at 1.6127. Formation of double-top and loss of trendline at 1.6060 and strong support at 1.6050, brings bears fully in play, as pullback retraced over 61.8% of 1.5987/1.6129 upleg at 1.6034 so far. With 4h studies breaking below the centrelines, further weakness could be anticipated, with psychological support at 1.6000 and 50% of 1.5826/1.6129 at 1.5990, seen in near-term focus. Corrective rallies should stay limited under 1.6090/1.6100 to keep bears in play.

Res: 1.6060, 1.6090, 1.6100, 1.6127
Sup: 1.6034, 1.6021, 1.6000, 1.5987

USD/JPY

The pair maintains neutral tone in past two weeks, as the price action remains entrenched within 81.50/82.83 range, with flat near-term studies giving no signals of any stronger action. With 83.00 zone seen as a trigger for fresh bullish action, break below the range floor at 81.70 would be a signal for stronger correction.

Res: 82.60, 82.74, 82.83, 83.00
Sup: 82.20, 82.00, 81.68, 81.58

USD/CHF

The pair emerges from dangerous zone, in attempt to avert immediate risk of retesting key support at 0.9213, as fresh gains breach initial 0.9300 barrier and 0.9339, 28 Nov high / Fib 38.2% of 0.9511/0.9239 downleg. Temporary relief has been provided, as 4h chart studies turned positive that lends support for further extension towards 0.9375, 50% retracement and very strong barrier and breakpoint at 0.9400, Fib 61.8% / 200 day MA. However, overbought hourly conditions may signal pause in current rally, with initial support at 0.9315 and 0.9300 expected to contain any dips.

Res: 0.9351, 0.9375, 0.9400, 0.9430
Sup: 0.9331, 0.9315, 0.9300, 0.9280

 

[WindsorBrokers]

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

EUR/USD

The Euro starts the week under increased pressure, despite Friday’s close above 1.2900 handle, as gap lower open tested levels below 50% of 1.2660/1.3125 ascend. With bears fully in control on lower timeframes studies, and failure to fill the gap, further weakness is seen as likely near-term scenario. Immediate target lies at 1.2839, Fib 61.8%, ahead of strong support zone at 1.2820, where daily Ichimoku cloud base and bull-trendline off 1.2042 lie. Overnight’s high at 1.2914, reinforced by hourly 200 day EMA, offer initial resistance, followed by 1.2950, 06 Dec low / 07 Dec intraday high / 55 day EMA and 1.2971, 07 Dec high / Fib 38.2% of 1.3125/1.2876. Only regain of psychological 1.3000 barrier, also 50% retracement, would avert immediate downside risk.

Res: 1.2914, 1.2950, 1.2971, 1.3000
Sup: 1.2876, 1.2839, 1.2825, 1.2800

GBP/USD

Cable’s near-term price action moves above psychological 1.6000 support, also last Friday’s low, with gains being capped by 4h 55 day EMA at 1.6040 zone. Negative hourly studies are lacking momentum for stronger recovery, as additional pressure comes from 4h indicators that moved into negative territory. This keeps immediate focus at the downside, as loss of 1.6000 handle is expected to open way for further retracement of 1.5826/1.6129 rally and confirm double-top pattern. Immediate downside targets lie at 1.5978/60, Fib 50% / 28 now low, below which to possibly target 1.5942/00, Fib 61.8% / 76.4% retracement. Overnight’s high at 1.6042, offers initial resistance, while break through 1.6060, Last Friday’s high and 50% of 1.6127/1.6000, would provide relief and signal basing attempt.

Res: 1.6032, 1.6042, 1.6060, 1.6090
Sup: 1.6012, 1.6000, 1.5987, 1.5960

USD/JPY

Near-term tone shows signs of improvement, as hourly / 4h studies broke higher and the price attacked 82.80 barrier and near-term range –top. However, failure to clear 83.00 barrier, shows lack of momentum and keeps the range barrier intact for now. Holding above 82.20, 55 day EMA, would keep the prospect for possible fresh attempt high, while break below would shift near-term focus lower and expose 82.00 and 81.70, range floor.

Res: 82.63, 82.74, 82.83, 83.00
Sup: 82.20, 82.00, 81.68, 81.58

USD/CHF

The pair maintains near-term positive stance, following break above important 0.9300/40 barriers and extension higher that so far retraced over 50% of 0.9511/0.9239 decline at 0.9381. Overnight gap-higher opening and approach to important 0.9400/20 resistance zone, keeps the downside protected for now and looks for further retracement. However, extended hourly conditions may signal further consolidation, with 0.9320 zone, last Friday’s lows, reinforced by ascending 55 day EMA, expected to contain. Break of 0.9400 and 0.9420, 200 day MA, is required to resume recovery and signal triple-bottom.

Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9346, 0.9325, 0.9315, 0.9300

 

[WindsorBrokers]

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

EUR/USD

The Euro starts the week under increased pressure, despite Friday’s close above 1.2900 handle, as gap lower open tested levels below 50% of 1.2660/1.3125 ascend. With bears fully in control on lower timeframes studies, and failure to fill the gap, further weakness is seen as likely near-term scenario. Immediate target lies at 1.2839, Fib 61.8%, ahead of strong support zone at 1.2820, where daily Ichimoku cloud base and bull-trendline off 1.2042 lie. Overnight’s high at 1.2914, reinforced by hourly 200 day EMA, offer initial resistance, followed by 1.2950, 06 Dec low / 07 Dec intraday high / 55 day EMA and 1.2971, 07 Dec high / Fib 38.2% of 1.3125/1.2876. Only regain of psychological 1.3000 barrier, also 50% retracement, would avert immediate downside risk.

Res: 1.2914, 1.2950, 1.2971, 1.3000
Sup: 1.2876, 1.2839, 1.2825, 1.2800

GBP/USD

Cable’s near-term price action moves above psychological 1.6000 support, also last Friday’s low, with gains being capped by 4h 55 day EMA at 1.6040 zone. Negative hourly studies are lacking momentum for stronger recovery, as additional pressure comes from 4h indicators that moved into negative territory. This keeps immediate focus at the downside, as loss of 1.6000 handle is expected to open way for further retracement of 1.5826/1.6129 rally and confirm double-top pattern. Immediate downside targets lie at 1.5978/60, Fib 50% / 28 now low, below which to possibly target 1.5942/00, Fib 61.8% / 76.4% retracement. Overnight’s high at 1.6042, offers initial resistance, while break through 1.6060, Last Friday’s high and 50% of 1.6127/1.6000, would provide relief and signal basing attempt.

Res: 1.6032, 1.6042, 1.6060, 1.6090
Sup: 1.6012, 1.6000, 1.5987, 1.5960

USD/JPY

Near-term tone shows signs of improvement, as hourly / 4h studies broke higher and the price attacked 82.80 barrier and near-term range –top. However, failure to clear 83.00 barrier, shows lack of momentum and keeps the range barrier intact for now. Holding above 82.20, 55 day EMA, would keep the prospect for possible fresh attempt high, while break below would shift near-term focus lower and expose 82.00 and 81.70, range floor.

Res: 82.63, 82.74, 82.83, 83.00
Sup: 82.20, 82.00, 81.68, 81.58

USD/CHF

The pair maintains near-term positive stance, following break above important 0.9300/40 barriers and extension higher that so far retraced over 50% of 0.9511/0.9239 decline at 0.9381. Overnight gap-higher opening and approach to important 0.9400/20 resistance zone, keeps the downside protected for now and looks for further retracement. However, extended hourly conditions may signal further consolidation, with 0.9320 zone, last Friday’s lows, reinforced by ascending 55 day EMA, expected to contain. Break of 0.9400 and 0.9420, 200 day MA, is required to resume recovery and signal triple-bottom.

Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9346, 0.9325, 0.9315, 0.9300

 

[WindsorBrokers]

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

EUR/USD

The single currency bounces higher off today’s / last Friday’s lows at 1.2885/76, after consolidating at 1.2900 zone. Fresh gains filled the overnight’s gap, however, lacking strength to regain initial barrier and breakpoint at 1.2950, reinforced by 55 day EMA. Break here and 1.2970/80, Fib 38.2% of 1.3125/1.2876 / 20/55 day EMA’s bearish crossover, is needed to confirm recovery and signal near-term base, for possible attack at psychological 1.3000 barrier. However, 4h chart studies are still in the negative territory and would keep the downside favored as long as 1.2970/80 zone stays intact, with risk seen on slide below 1.2900/1.2880 that would open way for further retracement towards initial 1.2839, Fibonacci support.

Res: 1.2940, 1.2950, 1.2971, 1.3000
Sup: 1.2916, 1.2900, 1.2885, 1.2876

GBP/USD

Near-term outlook regains bullish tone, as the pair strongly bounced off today’s higher low at 1.6012 and approached 1.6100 barrier, also Fib 76.4% of 1.6127/1.6000 descend. This averts downside risk and turns near-term focus higher, however, pause in current rally would be seen on overbought hourly studies, with good support seen at 1.6060 zone, previous strong resistance and 4h Ichimoku cloud base that should contain dips in order to keep bullish structure intact. As 4h studies are approaching their midlines, further extension higher gets more credibility, with break through initial 1.6100 hurdle required to confirm and re-open recent double-top at 1.6127/29.

Res: 1.6095, 1.6100, 1.6119, 1.6129
Sup: 1.6060, 1.6042, 1.6012, 1.6000

USD/JPY

Repeated failure at 82.80 range top, has triggered fresh pullback below 82.50/20 supports that weakened hourly structure. However, initial recovery signal is seen on hourly Stochastics bounce and RSI starting to point higher, along with 4h chart studies holding positive tone that may prevent the pair of testing initial 82.00 support and 81.70 range floor. Clearance of minimum 82.50 is seen as a trigger for possible fresh attack at 82.80/83.00, key near-term barriers.

Res: 82.36, 82.50, 82.63, 82.83
Sup: 82.10, 82.00, 81.68, 81.58

USD/CHF

The pair entered near-term corrective phase, signaled by overbought hourly conditions, retracing so far over 38.2% of 0.9254/0.9381 rally and testing important 0.9320 support. As hourly studies slid into negative territory, the downside remains vulnerable, however, while psychological 0.9300 support and bullish 20/55 day EMA’s crossover stays intact, hopes for fresh rally exist. Ideally, reversal at 0.9320/00 zone, would keep initial bulls off 0.9250 zone in play, with regain of important 0.9400 barrier, required to confirm and resume recovery. Otherwise, slide below 0.9300 would confirm bears are taking control for possible re-visit of 0.9239, 03 Dec low.

Res: 0.9350, 0.9368, 0.9381, 0.9400
Sup: 0.9325, 0.9315, 0.9300, 0.9284

 

[WindsorBrokers]

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

EUR/USD

The Euro steadies above 1.2900 support, with overnight’s brief break above initial 1.2950 resistance, lacking momentum for test of more significant 1.2970, Fib 38.2% and 1.3000, round figure / 50% retracement of 1.3125/1.2876. Hourly studies are losing traction, while 4h 20 day EMA capping and indicators in the negative territory, with Stochastic reversing, seeing the downside still vulnerable. Failure to regain 1.3000 handle that would open way for stronger recovery, sees risk of retesting 1.2900/1.2876, to possibly trigger further retracement of larger 1.2660/1.3125 ascend.

Res: 1.2961, 1.2971, 1.3000, 1.3030
Sup: 1.2927, 1.2900, 1.2885, 1.2876

GBP/USD

Cable holds near-term positive tone, established on a strong bounce from 1.6000 support zone, despite yesterday’s rejection on approach to psychological 1.6100 barrier. While the near-term consolidation holds above 1.6060, previous resistance, scope exists for fresh attempt higher, with clearance of 1.6100 and more important 1.6129 double-top, required to confirm bullish stance. Otherwise, loss of 1.6060, also 55 day EMA, would see increased risk of re-visiting 1.6000 area. Hourly studies are losing momentum, while 4h indicators are about to break above the midlines, with regain of 1.6100, required to confirm.

Res: 1.6086, 1.6095, 1.6100, 1.6127
Sup: 1.6060, 1.6042, 1.6012, 1.6000

USD/JPY

The pair holds in the middle of near-term 81.70/82.83 range, following unsuccessful attempt at upper boundary and dips being contained above psychological 82.00 support. Near-term studies remain neutral, with break of either side of the range, required to establish fresh direction.

Res: 82.43, 82.63, 82.74, 82.83
Sup: 82.29, 82.10. 82.00, 81.68

USD/CHF

The pair holds near-term positive tone, as reversal from last Friday’s fresh high at 0.9381, finds ground at initial support at 0.9320, reinforced by 20 day EMA. Positive 4h chart structure keeps the upside in focus, with hourly studies starting to point higher and gaining bullish momentum. Regain of important 0.9400 barrier is seen as initial signal of bullish resumption, with break above 200 day MA at 0.9420 and previous peaks at 0.9430 zone, required to confirm. Conversely, loss of 0.9320/00 would revive bears and re-expose 0.9239 and key support at 0.9213.


Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9320, 0.9300, 0.9263, 0.9254

 

[WindsorBrokers]

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

EUR/USD

The Euro steadies above 1.2900 support, with overnight’s brief break above initial 1.2950 resistance, lacking momentum for test of more significant 1.2970, Fib 38.2% and 1.3000, round figure / 50% retracement of 1.3125/1.2876. Hourly studies are losing traction, while 4h 20 day EMA capping and indicators in the negative territory, with Stochastic reversing, seeing the downside still vulnerable. Failure to regain 1.3000 handle that would open way for stronger recovery, sees risk of retesting 1.2900/1.2876, to possibly trigger further retracement of larger 1.2660/1.3125 ascend.

Res: 1.2961, 1.2971, 1.3000, 1.3030
Sup: 1.2927, 1.2900, 1.2885, 1.2876

GBP/USD

Cable holds near-term positive tone, established on a strong bounce from 1.6000 support zone, despite yesterday’s rejection on approach to psychological 1.6100 barrier. While the near-term consolidation holds above 1.6060, previous resistance, scope exists for fresh attempt higher, with clearance of 1.6100 and more important 1.6129 double-top, required to confirm bullish stance. Otherwise, loss of 1.6060, also 55 day EMA, would see increased risk of re-visiting 1.6000 area. Hourly studies are losing momentum, while 4h indicators are about to break above the midlines, with regain of 1.6100, required to confirm.

Res: 1.6086, 1.6095, 1.6100, 1.6127
Sup: 1.6060, 1.6042, 1.6012, 1.6000

USD/JPY

The pair holds in the middle of near-term 81.70/82.83 range, following unsuccessful attempt at upper boundary and dips being contained above psychological 82.00 support. Near-term studies remain neutral, with break of either side of the range, required to establish fresh direction.

Res: 82.43, 82.63, 82.74, 82.83
Sup: 82.29, 82.10. 82.00, 81.68

USD/CHF

The pair holds near-term positive tone, as reversal from last Friday’s fresh high at 0.9381, finds ground at initial support at 0.9320, reinforced by 20 day EMA. Positive 4h chart structure keeps the upside in focus, with hourly studies starting to point higher and gaining bullish momentum. Regain of important 0.9400 barrier is seen as initial signal of bullish resumption, with break above 200 day MA at 0.9420 and previous peaks at 0.9430 zone, required to confirm. Conversely, loss of 0.9320/00 would revive bears and re-expose 0.9239 and key support at 0.9213.


Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9320, 0.9300, 0.9263, 0.9254

 

[WindsorBrokers]

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

EUR/USD

The Euro holds positive stance, consolidating recent rally at 1.3000 zone. Regain of 1.3000 level, also 50% of 1.3125/1.2876 descend, sees more prospect for further recovery, as 4h studies are ascending and see room for fresh extension and test of next barrier at 1.3030, Fib 61.8%, above which 1.3085/1.3100 would come in near-term focus. However, hourly indicators are reversing from overbought zone that may signal further corrective action, with strong support at 1.2970, previous high of 07 Dec and 20/55 day EMA’s bullish crossover, expected to contain dips and keep bullish structure intact..

Res: 1.3013, 1.3030, 1.3041, 1.3066
Sup: 1.2995, 1.2970, 1.2950, 1.2927

GBP/USD

Cable has nearly fully retraced recent 1.6127/1.6000 downleg on rally from higher base at 1.6060 and break above psychological 1.6100 barrier that posted high at 1.6121. Corrective pullback on overbought hourly studies, faces static support at 1.6060, also 50% of 1.6000/1.6121 ascend, seen as ideal reversal point, as 4h studies hold bullish momentum and keep the upside favored. However, clear break above 1.6127/29 double-top is required to confirm and open next barrier at 1.6174. Increased downside risk would be seen on slide below 1.6040 zone, 07/10 Dec highs / Fib 61.8% that would signal triple-top formation and expose lower targets.

Res: 1.6100, 1.6121, 1.6127, 1.6129
Sup: 1.6090, 1.6060, 1.6042, 1.6012

USD/JPY

Near-term bulls are returning to play, as the price attacks the upper boundary of near-term range at 82.80 zone. Positive structure on lower timeframes studies, remains supportive, with confirmation seen on a break above 82.80/83.00 barriers that would signal an end of consolidative phase and resume larger uptrend from 77.12, 13 Sep low. Repeated failure at 82.80/83.00 would keep the pair within the range.

Res: 82.83, 83.00, 83.29, 84.08
Sup: 82.52, 82.32, 82.10, 82.00

USD/CHF

Strong near-term support zone at 0.9320/00 remains under pressure, as the pair reverses, following failure on attempt at cluster of resistances at 0.9400 zone. With nearly 50% of recovery rally from 0.9239 to 0.9381, being retraced so far and negative hourly structure, downside remains at risk. The notion is supported by descending 4h chart studies that are breaking into negative territory. Slide below 0.9300 to confirm lower top at 0.9381 and re-focus downside targets at 0.9254 and 0.9239. Alternative scenario sees downside rejection above 0.9300 that would keep hopes of fresh strength and possible attempt at 0.9380/0.9400, with regain of minimum 0.9367, yesterday’s high, required to confirm.

Res: 0.9335, 0.9367, 0.9381, 0.9400
Sup: 0.9312, 0.9300, 0.9263, 0.9254

 

[WindsorBrokers]

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

EUR/USD

The Euro holds positive stance, consolidating recent rally at 1.3000 zone. Regain of 1.3000 level, also 50% of 1.3125/1.2876 descend, sees more prospect for further recovery, as 4h studies are ascending and see room for fresh extension and test of next barrier at 1.3030, Fib 61.8%, above which 1.3085/1.3100 would come in near-term focus. However, hourly indicators are reversing from overbought zone that may signal further corrective action, with strong support at 1.2970, previous high of 07 Dec and 20/55 day EMA’s bullish crossover, expected to contain dips and keep bullish structure intact..

Res: 1.3013, 1.3030, 1.3041, 1.3066
Sup: 1.2995, 1.2970, 1.2950, 1.2927

GBP/USD

Cable has nearly fully retraced recent 1.6127/1.6000 downleg on rally from higher base at 1.6060 and break above psychological 1.6100 barrier that posted high at 1.6121. Corrective pullback on overbought hourly studies, faces static support at 1.6060, also 50% of 1.6000/1.6121 ascend, seen as ideal reversal point, as 4h studies hold bullish momentum and keep the upside favored. However, clear break above 1.6127/29 double-top is required to confirm and open next barrier at 1.6174. Increased downside risk would be seen on slide below 1.6040 zone, 07/10 Dec highs / Fib 61.8% that would signal triple-top formation and expose lower targets.

Res: 1.6100, 1.6121, 1.6127, 1.6129
Sup: 1.6090, 1.6060, 1.6042, 1.6012

USD/JPY

Near-term bulls are returning to play, as the price attacks the upper boundary of near-term range at 82.80 zone. Positive structure on lower timeframes studies, remains supportive, with confirmation seen on a break above 82.80/83.00 barriers that would signal an end of consolidative phase and resume larger uptrend from 77.12, 13 Sep low. Repeated failure at 82.80/83.00 would keep the pair within the range.

Res: 82.83, 83.00, 83.29, 84.08
Sup: 82.52, 82.32, 82.10, 82.00

USD/CHF

Strong near-term support zone at 0.9320/00 remains under pressure, as the pair reverses, following failure on attempt at cluster of resistances at 0.9400 zone. With nearly 50% of recovery rally from 0.9239 to 0.9381, being retraced so far and negative hourly structure, downside remains at risk. The notion is supported by descending 4h chart studies that are breaking into negative territory. Slide below 0.9300 to confirm lower top at 0.9381 and re-focus downside targets at 0.9254 and 0.9239. Alternative scenario sees downside rejection above 0.9300 that would keep hopes of fresh strength and possible attempt at 0.9380/0.9400, with regain of minimum 0.9367, yesterday’s high, required to confirm.

Res: 0.9335, 0.9367, 0.9381, 0.9400
Sup: 0.9312, 0.9300, 0.9263, 0.9254

 

[WindsorBrokers]

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

EUR/USD

The Euro continues to travel higher, as bullish technicals were additionally underpinned by Euro-supportive fundamentals that resulted in a rally to psychological 1.3100 barrier so far. Key resistances at 1.3125/38/70, 05 Dec / 17 Oct / 17 Sep peaks, are in near-term focus, with bullish structure being supported by three white soldiers reversal pattern, formed from 1.2900 base. Corrective actions on overbought hourlies were so far contained by ascending 20 day EMA at 1.3055, with any stronger dips, expected to find ground above 1.3020/00 support zone.

Res: 1.3013, 1.3030, 1.3041, 1.3066
Sup: 1.2995, 1.2970, 1.2950, 1.2927

GBP/USD

Cable maintains positive structure, as yesterday’s break and close above strong 1.6127/29 barrier, keeps near-term bulls firmly in play. Immediate upside targets at 1.6175 and 1.6200 come under pressure, as the pair reached 1.6170 so far. With technical correction finding footstep at previous strong barrier, and near-term studies holding in the positive territory, fresh attack towards 1.6200 barriers is seen likely. Initial supports lie at 1.6125 and 1.6112, while violation of 1.6100, yesterday’s low, would delay bulls andsignal stronger corrective action.

Res: 1.6150, 1.6175, 1.6200, 1.6216
Sup: 1.6124, 1.6112, 1.6100, 1.6060

USD/JPY

The dollar/yen, as top yesterday’s performer, eventually broke above range top and psychological barrier at 82.83/83.00, resuming larger uptrend from 77.12, 13 Sep low. With fresh gains reaching 83.66 high so far, keep the positive structure for attempt at our target and key barriers at 84.08/17, yearly highs. However, stronger corrective action could be anticipated, as both 1 and 4h studies are deeply in overbought zone, with hourly indicators starting to descend. Previous strong barrier at 82.80, now acts as initial support, with deeper reversal, expected to find ground at/above 81.90/70, Fib 38.2% of 79.06/83.66 / previous range floor.

Res: 83.66, 84.00, 84.08, 84.17
Sup: 83.46, 83.30, 83.10, 83.00

USD/CHF

Near-term bears took control, following recovery failure on approach to 0.9400 barrier and subsequent slide through psychological 0.9300 support that resulted in re-test of 0.9239, 03 Dec low. Completion of near-term corrective action, bring focus to the downside, as a part of larger downtrend from 0.9970, with immediate focus at 0.9213, 17 Oct low. Violation of the latter to resume the downtrend and expose 0.9150/00 zone next. With negative tone dominating on lower timeframes studies and brief corrective action being capped by 10 day EMA at 0.9270, the upside remains protected for now. Only lift above previous strong support zone at 0.9300/20, would provide temporary relief.

Res: 0.9270, 0.9292, 0.9300, 0.9320
Sup: 0.9255, 0.9239, 0.9213, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The Euro cracked psychological 1.3100 barrier, following two-day consolidation. Hourly bulls are coming back in play after sideways movements, with 4h studies aligned upward and price holding above 20 day EMA. Immediate targets at 1.3125/38 come under pressure, with break higher to expose 1.3170, 17 Sep peak. Fresh strength through 1.3100 offsets yesterday’s Doji, however, weekly close above 1.3100 and clearance of 1.3125/38 are required to confirm bulls, otherwise, pause in recent rally and fresh easing towards 1.3000 handle, would be likely near-term scenario.

Res: 1.3113, 1.3125, 1.3138, 1.3170
Sup: 1.3065, 1.3040, 1.3014, 1.3000

GBP/USD

Cable remains under pressure, as corrective pullback off fresh high at 1.6170, dips to 50% retracement of 1.6000/1.6166 at 1.6085, following unsuccessful renewed attempt higher that failed at 1.6135. Studies on 4h chart are holding positive tone, however, reversal of hourly Stochastic and MACD still in the negative territory, keeps the downside vulnerable, as the near-term price action struggles to sustain gains above 1.6100. Regain of 1.6170 is required to confirm bulls back in play for test of psychological 1.6200 barrier, otherwise, slide below 1.6100/1.6085, would risk further retracement..

Res: 1.6142, 1.6152, 1.6175, 1.6200
Sup: 1.6110, 1.6100, 1.6085, 1.6065

USD/JPY

The pair continues to head higher, as strong bullish tone exists on lower and higher timeframes studies. As the price approaches psychological 84.00 barrier, annual highs at 84.08/17 come in the near-term focus, with break higher to expose 84.50, 12 Dec 2010 high and psychological 85.00 barrier. Near-term corrective actions on overbought studies, should be contained at/above 83.00, to keep bullish structure intact.

Res: 83.95, 84.00, 84.08, 84.17
Sup: 83.60, 83.41, 83.23, 83.00

USD/CHF

Cracking the key near-term support at 0.9213, the pair shows scope for fresh extension of larger downtrend from 0.9970, yearly high, with break below psychological 0.9200 level, required to confirm. Bearish tone dominates on near-term, as well as larger picture studies, with bounces higher on oversold conditions, seen as corrective. Initial resistance lies at 0.9241, 12 Dec low, ahead of 0.9273, yesterday’s high, with any stronger rally, seen capped by 0.9300 zone, also 20/55 day EMA’s bearish crossover.

Res: 0.9241, 0.9273, 0.9292, 0.9300
Sup: 0.9207, 0.9200, 0.9180, 0.9170

 

[WindsorBrokers]

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

EUR/USD

The Euro remains well supported, with last Friday’s surge through key barriers at 1.3138/70, resulted in testing levels just under psychological 1.3200 level and 30d Bollinger Band during the Asian session. Corrective easing is seen likely, as hourly indicators are emerging out of overbought zone, while 4h ones started o reverse. However, overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks. On the upside, immediate target lies at 1.3282, 01 May high and psychological 1.3300 barrier. With dips being contained by 20 day EMA at 1.3140 for now, next strong supports lies at 1.3100 zone, also 55 day EMA and 1.3070, last Friday low / Fib 38.2% of 1.2876/1.3186 ascend.

Res: 1.3170, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3118, 1.3100, 1.3065

GBP/USD

Cable is poised to break above psychological 1.6200 barrier, also Fib 76.4% of 1.6308/1.5826, the last barrier en-route to strong 1.6300 resistance zone. Near-term studies are positively aligned and keep the upside favored, with psychological support at 1.6100, also 50% of 1.6000/1.6200, expected to contain any stronger reversal.

Res: 1.6200, 1.6216, 1.6250, 1.6271
Sup: 1.6175, 1.6155, 1.6130, 1.6100

USD/JPY

Strong bullish stance has been confirmed by overnight’s gap-higher opening, as the price broke above previous annual high at 84.17. Corrective action off overnight’s fresh high at 84.32, holds for now above last week’s closing price, with any stronger retracement, as 4h studies are overbought and divergence appears on hourly chart, would face good supports at 83.30 and 83.00, levels expected to contain. On the upside, psychological 85.00 barrier comes in the near-term focus.

Res: 84.00, 84.15, 84.32, 84.50
Sup: 83.84, 83.50, 83.30, 83.00

USD/CHF

Near-term bears remain fully in play, as the pair dips to 0.9150, following loss of 0.9200 base. Brief corrective action on oversold near-term conditions strong barriers at 0.9200/40 area that are expected to cap, with 0.9100 zone seen in the near-term focus, as the pair resumes broader downtrend from 0.9970, 24 July annual high.

Res: 0.9192, 0.9200, 0.9213, 0.9240
Sup: 0.9175, 1.9164, 0.9151, 0.9100

 

[WindsorBrokers]

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

EUR/USD

The Euro remains well supported, with last Friday’s surge through key barriers at 1.3138/70, resulted in testing levels just under psychological 1.3200 level and 30d Bollinger Band during the Asian session. Corrective easing is seen likely, as hourly indicators are emerging out of overbought zone, while 4h ones started o reverse. However, overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks. On the upside, immediate target lies at 1.3282, 01 May high and psychological 1.3300 barrier. With dips being contained by 20 day EMA at 1.3140 for now, next strong supports lies at 1.3100 zone, also 55 day EMA and 1.3070, last Friday low / Fib 38.2% of 1.2876/1.3186 ascend.

Res: 1.3170, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3118, 1.3100, 1.3065

GBP/USD

Cable is poised to break above psychological 1.6200 barrier, also Fib 76.4% of 1.6308/1.5826, the last barrier en-route to strong 1.6300 resistance zone. Near-term studies are positively aligned and keep the upside favored, with psychological support at 1.6100, also 50% of 1.6000/1.6200, expected to contain any stronger reversal.

Res: 1.6200, 1.6216, 1.6250, 1.6271
Sup: 1.6175, 1.6155, 1.6130, 1.6100

USD/JPY

Strong bullish stance has been confirmed by overnight’s gap-higher opening, as the price broke above previous annual high at 84.17. Corrective action off overnight’s fresh high at 84.32, holds for now above last week’s closing price, with any stronger retracement, as 4h studies are overbought and divergence appears on hourly chart, would face good supports at 83.30 and 83.00, levels expected to contain. On the upside, psychological 85.00 barrier comes in the near-term focus.

Res: 84.00, 84.15, 84.32, 84.50
Sup: 83.84, 83.50, 83.30, 83.00

USD/CHF

Near-term bears remain fully in play, as the pair dips to 0.9150, following loss of 0.9200 base. Brief corrective action on oversold near-term conditions strong barriers at 0.9200/40 area that are expected to cap, with 0.9100 zone seen in the near-term focus, as the pair resumes broader downtrend from 0.9970, 24 July annual high.

Res: 0.9192, 0.9200, 0.9213, 0.9240
Sup: 0.9175, 1.9164, 0.9151, 0.9100

 

[WindsorBrokers]

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

EUR/USD

The Euro moves in a sideways consolidative mode, holding within 30-pips range, following yesterday’s failure on approach to 1.3200 barrier and Doji candle. As the latter proves to be tough barrier and the pair lacks momentum for push higher, stronger correction cannot be ruled out. The notion is supported by descending hourly and 4h studies emerging from overbought territory. Range lows at 1.3140 zone, reinforced by hourly Ichimoku cloud, offer initial support, ahead of more significant 1.3100, 13 Dec previous highs, loss of which to possibly expose psychological / Fibonacci 61.8% support at 1.3000.

Res: 1.3178, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3115, 1.3100, 1.3065

GBP/USD

The pair holds steady around 1.6200 handle, following yesterday’s break and close above the latter. Overall bulls remain intact for fresh extension higher that would focus key 1.6300 resistance zone. However, corrective easing may precede rally, as hourly indicators are reversing. Initial support lies at 1.6180/70 zone, previous tops and Fib 38.2% of 1.6084/1.6218 ascend, ahead of 1.6150, 50% retracement, where dips should be contained, otherwise, further delay and downside extension towards 1.6100/1.6085, would be likely.

Res: 1.6218, 1.6250, 1.6271, 1.6300
Sup: 1.6190, 1.6175, 1.6150, 1.6135

USD/JPY

Near-term bears are running out of steam, after yesterday’s surge to fresh 1/ ½ year high, as the price slides below psychological 84.00 support, following repeated attempt at 84.32, yesterday’s high. With 4h studies starting to point lower, initial signal for corrective action is given, however, confirmation requires filling yesterday’s gap that will be seen on a dip to 83.50 and possible test of strong support at 83.30/20 zone, 13/14 Dec lows , Fib 61.8% of 82.09/84.32 ascend. Conversely, lift above 84.32, to open 84.50 and 85.00, weekly 200 day MA.

Res: 84.07, 84.15, 84.32, 84.50
Sup: 83.82, 83.50, 83.30, 83.20

USD/CHF

The pair consolidates recent losses, moving within narrow range above yesterday’s fresh low at 0.9151, with upside being capped under initial 0.9200 barrier for now. Overall bearish tone keeps the downside favored, with corrective bounce signaled by oversold 4h conditions. However, upside action requires clearance of strong 0.9200/40 resistance zone, previous lows and 20/55 day EMA’s, to avert immediate downside risk and allow for stronger retracement. Otherwise, risk of lower top under 0.9240 and fresh leg lower, would be the likely near-term scenario.

Res: 0.9192, 0.9210, 0.9213, 0.9240
Sup: 0.9165, 0.9151, 0.9100, 0.9080

 

[WindsorBrokers]

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

EUR/USD

The Euro remains well supported, with last Friday’s surge through key barriers at 1.3138/70, resulted in testing levels just under psychological 1.3200 level and 30d Bollinger Band during the Asian session. Corrective easing is seen likely, as hourly indicators are emerging out of overbought zone, while 4h ones started o reverse. However, overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks. On the upside, immediate target lies at 1.3282, 01 May high and psychological 1.3300 barrier. With dips being contained by 20 day EMA at 1.3140 for now, next strong supports lies at 1.3100 zone, also 55 day EMA and 1.3070, last Friday low / Fib 38.2% of 1.2876/1.3186 ascend.

Res: 1.3170, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3118, 1.3100, 1.3065

GBP/USD

Cable is poised to break above psychological 1.6200 barrier, also Fib 76.4% of 1.6308/1.5826, the last barrier en-route to strong 1.6300 resistance zone. Near-term studies are positively aligned and keep the upside favored, with psychological support at 1.6100, also 50% of 1.6000/1.6200, expected to contain any stronger reversal.

Res: 1.6200, 1.6216, 1.6250, 1.6271
Sup: 1.6175, 1.6155, 1.6130, 1.6100

USD/JPY

Strong bullish stance has been confirmed by overnight’s gap-higher opening, as the price broke above previous annual high at 84.17. Corrective action off overnight’s fresh high at 84.32, holds for now above last week’s closing price, with any stronger retracement, as 4h studies are overbought and divergence appears on hourly chart, would face good supports at 83.30 and 83.00, levels expected to contain. On the upside, psychological 85.00 barrier comes in the near-term focus.

Res: 84.00, 84.15, 84.32, 84.50
Sup: 83.84, 83.50, 83.30, 83.00

USD/CHF

Near-term bears remain fully in play, as the pair dips to 0.9150, following loss of 0.9200 base. Brief corrective action on oversold near-term conditions strong barriers at 0.9200/40 area that are expected to cap, with 0.9100 zone seen in the near-term focus, as the pair resumes broader downtrend from 0.9970, 24 July annual high.

Res: 0.9192, 0.9200, 0.9213, 0.9240
Sup: 0.9175, 1.9164, 0.9151, 0.9100

 

[WindsorBrokers]

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

EUR/USD

The Euro continues to trend higher, extending the latest upleg from 1.2876, 07 Dec low. Break and close above psychological 1.3200 barrier, confirms the fresh bull-phase, following three-month congestion under 1.3170 peak. Larger picture bulls see room for fresh extension higher and test of initial targets at 1.3282, 01 May high and 1.3300, round-figure resistance, with strong resistance zone at 1.3500, yearly high / Fib 50% of 1.4938/1.2042, expected to come in near-term focus. Consolidative / corrective action on extremely overbought hourly studies, may precede fresh bulls, with initial static supports standing at 1.3220/00, reinforced by 20 day EMA and previous high at 1.3186. Any stronger reversal should be contained by 1.3100 zone, Fib 38.2% of 1.2876/1.3253 / 55 day EMA.

Res: 1.3253, 1.3282, 1.3300, 1.3350
Sup: 1.3220, 1.3200, 1.3186, 1.3142

GBP/USD

Near-term bulls remain fully in play for possible test of key barrier and multi-month range top at 1.6300, as yesterday’s strong rally reached 1.6286 high, just ahead of 1.6300/08, 30 Apr / 21 Sep yearly peaks. Overextended near-term studies suggest a pause in rally, however, no clear reversal signal seen yet. Overnight’s corrective low at 1.6244 offers immediate support, ahead of more significant higher platform and Fib 38.2% of 1.6084/1.6286 upleg at 1.6200 that is expected to contain any stronger pullback.

Res: 1.6286, 1.6300, 1.6308, 1.6388
Sup: 1.6244, 1.6200, 1.6190, 1.6175

USD/JPY

The pair resumes near-term rally that was interrupted by two-day 84.32/83.60 corrective action. With fresh high posted just under our initial target at 84.50, scope is seen for possible stretch towards psychological barrier at 85.00, also weekly 200 day MA. However, overbought conditions on lower and larger timeframes, require caution, as failure to surpass 84.50, would result in stronger corrective action towards 83.80/60 support zone.

Res: 84.42, 84.50, 85.00, 85.51
Sup: 84.21, 84.00, 83.80, 83.60

USD/CHF

Bears remain unobstructed, as the pair continues to post fresh lows, following loss of important 0.9200 level. As the price approaches psychological 0.9100 support, bearish extension through here would eye 0.9041 and 0.9000, 01 May / 03 Apr lows. Near-term indicators in the oversold territory do not rule out bounce, with previous low at 0.9151, offering initial resistance, ahead of more significant 0.9200, round figure / near Fib 38.2% of 0.9381/0.9112 descend, break of which would provide temporary relief.

Res: 0.9136, 0.9151, 0.9192, 0.9215
Sup: 0.9112, 0.9100, 0.9080, 0.9041

 

[WindsorBrokers]

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

EUR/USD

The Euro continues to trend higher, extending the latest upleg from 1.2876, 07 Dec low. Break and close above psychological 1.3200 barrier, confirms the fresh bull-phase, following three-month congestion under 1.3170 peak. Larger picture bulls see room for fresh extension higher and test of initial targets at 1.3282, 01 May high and 1.3300, round-figure resistance, with strong resistance zone at 1.3500, yearly high / Fib 50% of 1.4938/1.2042, expected to come in near-term focus. Consolidative / corrective action on extremely overbought hourly studies, may precede fresh bulls, with initial static supports standing at 1.3220/00, reinforced by 20 day EMA and previous high at 1.3186. Any stronger reversal should be contained by 1.3100 zone, Fib 38.2% of 1.2876/1.3253 / 55 day EMA.

Res: 1.3253, 1.3282, 1.3300, 1.3350
Sup: 1.3220, 1.3200, 1.3186, 1.3142

GBP/USD

Near-term bulls remain fully in play for possible test of key barrier and multi-month range top at 1.6300, as yesterday’s strong rally reached 1.6286 high, just ahead of 1.6300/08, 30 Apr / 21 Sep yearly peaks. Overextended near-term studies suggest a pause in rally, however, no clear reversal signal seen yet. Overnight’s corrective low at 1.6244 offers immediate support, ahead of more significant higher platform and Fib 38.2% of 1.6084/1.6286 upleg at 1.6200 that is expected to contain any stronger pullback.

Res: 1.6286, 1.6300, 1.6308, 1.6388
Sup: 1.6244, 1.6200, 1.6190, 1.6175

USD/JPY

The pair resumes near-term rally that was interrupted by two-day 84.32/83.60 corrective action. With fresh high posted just under our initial target at 84.50, scope is seen for possible stretch towards psychological barrier at 85.00, also weekly 200 day MA. However, overbought conditions on lower and larger timeframes, require caution, as failure to surpass 84.50, would result in stronger corrective action towards 83.80/60 support zone.

Res: 84.42, 84.50, 85.00, 85.51
Sup: 84.21, 84.00, 83.80, 83.60

USD/CHF

Bears remain unobstructed, as the pair continues to post fresh lows, following loss of important 0.9200 level. As the price approaches psychological 0.9100 support, bearish extension through here would eye 0.9041 and 0.9000, 01 May / 03 Apr lows. Near-term indicators in the oversold territory do not rule out bounce, with previous low at 0.9151, offering initial resistance, ahead of more significant 0.9200, round figure / near Fib 38.2% of 0.9381/0.9112 descend, break of which would provide temporary relief.

Res: 0.9136, 0.9151, 0.9192, 0.9215
Sup: 0.9112, 0.9100, 0.9080, 0.9041

 

[WindsorBrokers]

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

EUR/USD

The single currency is taking a pause in recent strong rally, as psychological 1.3300 level proves to be tough barrier. Subsequent quick pullback and slide below 1.3200 handle, sidelines near-term bulls, as hourly indicators moved in the negative territory and notion being supported by Gravestone Doji that signals loss of upward momentum and stronger reversal. With initial strong support at 1.3200/1.3186 being dented, where 20 day EMA contained dips for now. However, further reversal cannot be ruled out, with next support at 1.3140 zone, Fib 38.2% of 1.2876/1.3307 and 17 Dec low, required to hold and prevent the pair form deeper slide. On the upside, lift above 1.3250 would signal higher low and shift focus towards 1.3300 barrier. Strong bullish stance on a daily chart, still keeps the upside favored, with 1.3360, weekly 90 day MA and 1.3380, April highs, seen as near-term targets.

Res: 1.3227, 1.3253, 1.3307, 1.3360
Sup: 1.3200, 1.3186, 1.3142, 1.3100

GBP/USD

Near-term bulls are losing traction, after Cable briefly tested very strong 1.6300 barrier but failure to sustain gains, resulted reversal to initial support zone at 1.6240, where 55 day EMA so far contained losses. Negative structure on hourly chart, with price holding below descending 20 day EMA and 4h indicators reversing from overbought zone, see potential for further retracement, with 1.6200, round figure / near 38.2% of 1.6000/1.6305, seen as next downside target, with break here to confirm near-term top and open way towards 1.6100.

Res: 1.6260, 1.6268, 1.6300, 1.6308
Sup: 1.6236, 1.6200, 1.6190, 1.6175

USD/JPY

The pair dips below psychological 84.00 support, as gains stalled at 84.61 and reversal retraced nearly 61.8% of 83.30/84.61 upleg at 83.84. near-term structure is now negatively aligned, with immediate risk seen towards 83.60/30 support. Losing the latter will also fill last Monday’s gap and risk stronger correction of the recent rally. Reversing 4h and overbought daily studies are supporting such scenario, with close below 84.00, required to confirm. Conversely, regain of previous top at 84.32, would avert immediate downside risk.

Res: 84.00, 84.32, 84.46, 84.61
Sup: 83.80, 83.60, 83.30, 83.00

USD/CHF

The pair enters corrective phase after fresh losses through psychological 0.9100 support, found temporary ground at 0.9085, 20 day lower Bollinger Band. Subsequent bounce so far tested initial barrier and previous low at 0.9150, where 20 day EMA limited recovery for now. Improved conditions on hourly chart, see potential for possible further extension higher and test of psychological 0.9200 barrier, break of which is required to confirm recovery. From the other side, firmly bearish daily structure, sees the current move as corrective and preceding fresh weakness that would focus 0.9040/00, next downside targets.

Res: 0.9153, 0.9200, 0.9240, 0.9268
Sup: 0.9126, 0.9100, 0.9085, 0.9040