Short Term Technical Analysis for Majors

[WindsorBrokers]

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

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

 

[WindsorBrokers]

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

EUR/USD

The Euro seems to be losing traction at psychological 1.3300 barrier, as repeated attempt higher failed at 1.3294 yesterday. Daily double-Doji and indicators starting to point lower, increase risk of stronger reversal. The pair holds for now at the lower boundary of two-day congestion at 1.3180 zone, with near-term studies negatively aligned, more risk is seen towards the downside. Immediate target lies at 1.3140 zone, 17 Dec lows / Fib 38.2% of 1.2876/1.3005 and 55 day EMA, along with previous high of 05 Dec at 1.3125, loss of which to confirm reversal and signal near-term double-top. On the upside, yesterday’s intraday high at 1.3251 offers initial resistance, with break here required to ease immediate bear-pressure and open way for fresh attack at 1.3300.

Res: 1.3213, 1.3251, 1.3294, 1.3305
Sup: 1.3186, 1.3178, 1.3142, 1.3125

GBP/USD

Near-term price action remains congested under strong 1.6300 resistance, as yesterday’s second attempt to break higher, failed. With hourly studies in the negative territory and 4h indicators declining from overbought zone, further retracement is seen likely. Loss of near-term range floor at 1.6240 zone, to open psychological 1.6200 and 1.6180/70, Fib 38.2% of 1.6000/1.6305, reinforced by 55 day EMA and previous double-top, below which would accelerate bears. However, while as long as price holds above 1.6240, possibility of renewed attempt towards 1.6300 will remain in play.

Res: 1.6264, 1.6288, 1.6295, 1.6308
Sup: 1.6236, 1.6200, 1.6188, 1.6175

USD/JPY

The pair remains in a near-term corrective mode, following failure to clear 84.50 barrier, with price being contained at recent range floor at 83.80 for now. With near-term studies being negatively aligned, near-term focus stays at initial downside targets at 83.60/30, with risk of re-visiting strong support zone at 83.00/82.80. Conversely, regain of yesterday’s highs at 84.45, would avert immediate downside risk and open way towards 84.61, 19 Dec fresh high.

Res: 84.11, 84.32, 84.45, 84.61
Sup: 83.80, 83.60, 83.30, 83.00

USD/CHF

Recovery attempt from yesterday’s fresh low at 0.9081, remains limited by previous low and initial resistance at 0.9151, despite hourly indicators being positive, as 4h structure shows lack of momentum for stronger rally. However, further corrective action is not ruled out, with regain of psychological 0.9200 resistance, reinforced by 55 day EMA and more significant 0.9240, previous range floor and 50% of 0.9381/0.9081, required to provide relief and prevent the pair from fresh slide towards 0.9040/00, next downside targets.

Res: 0.9155, 0.9200, 0.9240, 0.9268
Sup: 0.9131, 0.9105, 0.9081, 0.9040

 

[WindsorBrokers]

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

EUR/USD

The single currency is poised for attack at tough 1.3300 barrier, following yesterday’s rally, the strongest daily gains since September 2012. Close above important 1.3160 and 1.3200 levels keeps near-term bulls firmly in play and is seen supportive for fresh extension of broader uptrend from 2012 low at 1.2042. Consolidative action under 1.3300 on overbought near-term studies is now under way, with further corrective action not ruled out. Any stronger dips should ideally been contained at 1.3200 zone, to keep the bullish structure intact. On the upside, clearance of 1.3300 would open 1.3380, Apr 2012 highs and 1.3400, round figure resistance.

Res: 1.3280, 1.3300, 1.3207, 1.3218
Sup: 1.3247, 1.3219, 1.3200, 1.3160

GBP/USD

The pair consolidates yesterday’s rally that retraced nearly 50% of 1.6380/1.5991 descend at 1.6177. Close above previous high at 1.6126, open s way for fresh extension higher and test of initial 1.6200 barrier, ahead of 1.6231, Fib 61.8%. Initial support lies at 1.6130 zone, where overnight dips were contained by ascending 20 day EMA, however, further easing should not exceed 1.6100, psychological support and Fib 38.2% of 1.5991/1.6177 rally, to keep bulls intact.

Res: 1.6165, 1.6177, 1.6200, 1.6231
Sup: 1.6139, 1.6126, 1.6100, 1.6084

USD/JPY

The pair resumes its larger uptrend after brief corrective action found support at 86.81 and fresh bulls cleared previous high at 88.40, also psychological barrier at 89.00, with fresh 2 ½ year high being posted at 89.34. Corrective easing below 89.00 handle is seen on overbought near-term studies, with 88.40/00 zone seen as ideal levels to contain dips before bulls re-assert. Only loss of 86.81, 09 Jan low, would delay bulls.

Res: 89.10, 89.34, 89.50, 90.00
Sup: 88.76, 88.40, 88.00, 87.85

USD/CHF

The pair continues to travel south after losing 0.9200 base, with losses approaching 0.9100, round-figure support, ahead of more important 0.9080 double-bottom. Prevailing negative tone on lower timeframes, keeps the downside favored, as 4h studies see room for possible extension through 0.9080 to target 0.9041 and 0.9000. Corrective rallies on oversold near-term studies are for no seen limited by 0.9200, previous low, reinforced by descending 55 day EMA.

Res: 0.9188, 0.9200, 0.9230, 0.9241
Sup: 0.9146, 0.9110, 0.9100, 0.9080

 

[WindsorBrokers]

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

EUR/USD

Strong rally from 1.3000 base brought near-term bulls fully in play, as the price surged above important 1.3300 barrier. Weekly close above the latter confirms positive sentiment, with fresh extension higher testing next target and psychological 1.3400 barrier overnight. Positive daily structure sees scope for further retracement of larger 1.4938/1.2042, 2011/2012 descend, with Feb 2012 peak at 1.3485, along with 50% retracement and psychological 1.3500 resistance, seen next. From the other side, overextended conditions on one and four-hour chart, with hourlies already pointing lower, suggest corrective pullback. Immediate supports lie at 1.3350/30, hourly 20 day EMA / Friday’s intraday low, ahead of more significant 1.3300 zone, where dips should be ideally contained. Any reversal under 1.3247 higher platform, would delay bulls.

Res: 1.3402, 1.3450, 1.3485, 1.3500
Sup: 1.3350, 1.3330, 1.3300, 1.3280

GBP/USD

Cable trades in a corrective/consolidative mode, following last Friday’s failure to regain psychological 1.6200 barrier. However, 1.6100 support zone offers good support, with dips being contained there for now. Hourly studies are weak, while 4h chart outlook hold more positive tone and sees potential for fresh attempt at 1.6177 and 1.6200, with 1.6115/00 zone, 20/55 day EMA’s / round figure support, required to hold and prevent fresh slide towards 1.6074/62, 08 Jan high / Fib 61.8% of 1.5991/1.6177 rally, loss of which would sideline bulls.

Res: 1.6154, 1.6177, 1.6200, 1.6231
Sup: 1.6115, 1.6100, 1.6088, 1.6074

USD/JPY

The pair continues to travel north after clearance of previous high at 88.40, cleared 89.00 level and shifted focus towards psychological 90.00 barrier. Corrective easing is seen on overbought near-term conditions and faces good supports at 89.34/00, ahead of 88.73 and 88.40, where any stronger pullback should find ground, to keep near-term bulls intact.

Res: 89.66, 90.00, 90.39, 90.50
Sup: 89.34, 89.00, 88.73, 88.40

USD/CHF

The pair remains under pressure, following last week’s corrective attempt failure under strong 0.9200 barrier, psychological resistance and 20/55 day EMA’s bearish crossover. Subsequent reversal towards initial 0.9100 support, keeps bears in play, as the price looks for test of 0.9080 base, loss of which would trigger fresh extension of larger downtrend from 0.9970 and expose 0.9041/00, next downside targets. Any recovery under 0.9200, would be described as corrective, while only break here would provide relief.

Res: 0.9142, 0.9177, 0.9191, 0.9200
Sup: 0.9110, 0.9100, 0.9080, 0.9041

 

[WindsorBrokers]

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

EUR/USD

Strong rally from 1.3000 base brought near-term bulls fully in play, as the price surged above important 1.3300 barrier. Weekly close above the latter confirms positive sentiment, with fresh extension higher testing next target and psychological 1.3400 barrier overnight. Positive daily structure sees scope for further retracement of larger 1.4938/1.2042, 2011/2012 descend, with Feb 2012 peak at 1.3485, along with 50% retracement and psychological 1.3500 resistance, seen next. From the other side, overextended conditions on one and four-hour chart, with hourlies already pointing lower, suggest corrective pullback. Immediate supports lie at 1.3350/30, hourly 20 day EMA / Friday’s intraday low, ahead of more significant 1.3300 zone, where dips should be ideally contained. Any reversal under 1.3247 higher platform, would delay bulls.

Res: 1.3402, 1.3450, 1.3485, 1.3500
Sup: 1.3350, 1.3330, 1.3300, 1.3280

GBP/USD

Cable trades in a corrective/consolidative mode, following last Friday’s failure to regain psychological 1.6200 barrier. However, 1.6100 support zone offers good support, with dips being contained there for now. Hourly studies are weak, while 4h chart outlook hold more positive tone and sees potential for fresh attempt at 1.6177 and 1.6200, with 1.6115/00 zone, 20/55 day EMA’s / round figure support, required to hold and prevent fresh slide towards 1.6074/62, 08 Jan high / Fib 61.8% of 1.5991/1.6177 rally, loss of which would sideline bulls.

Res: 1.6154, 1.6177, 1.6200, 1.6231
Sup: 1.6115, 1.6100, 1.6088, 1.6074

USD/JPY

The pair continues to travel north after clearance of previous high at 88.40, cleared 89.00 level and shifted focus towards psychological 90.00 barrier. Corrective easing is seen on overbought near-term conditions and faces good supports at 89.34/00, ahead of 88.73 and 88.40, where any stronger pullback should find ground, to keep near-term bulls intact.

Res: 89.66, 90.00, 90.39, 90.50
Sup: 89.34, 89.00, 88.73, 88.40

USD/CHF

The pair remains under pressure, following last week’s corrective attempt failure under strong 0.9200 barrier, psychological resistance and 20/55 day EMA’s bearish crossover. Subsequent reversal towards initial 0.9100 support, keeps bears in play, as the price looks for test of 0.9080 base, loss of which would trigger fresh extension of larger downtrend from 0.9970 and expose 0.9041/00, next downside targets. Any recovery under 0.9200, would be described as corrective, while only break here would provide relief.

Res: 0.9142, 0.9177, 0.9191, 0.9200
Sup: 0.9110, 0.9100, 0.9080, 0.9041

 

[WindsorBrokers]

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

EUR/USD

The Euro remains steady, trading in consolidative sideways mode, off fresh 11-month high at 1.3400, posted yesterday. Close above 1.3360, yesterday’s opening price, keeps the upside in near-term focus, however, further consolidation cannot be ruled out, as 4h studies are extended. Range floor at 1.3335 so far holds the downside, with further easing towards strong support at 1.3300, reinforced by ascending 20 day EMA, seen not harmful for near-term bulls, while only slide below 1.3247 higher platform and Fib 38.2% of 1.2996/1.3401 would delay. On the upside, clear break above 1.3400 is required to resume near-term bulls off 1.3000 base and open way towards 1.3485/1.3500, next targets.

Res: 1.3395, 1.3402, 1.3450, 1.3485
Sup: 1.3335, 1.3300, 1.3280, 1.3247

GBP/USD

Cable remains under pressure despite recovery from yesterday’s low at 1.6030, as gains failed to regain important 1.6200 barrier, where 55 day EMA caps for now. Negative hourly studies and 4h indicators sliding below the midlines, keep the downside vulnerable, with immediate support at 1.6030, ahead of very strong support zone at 1.6000/1.5991, loss of which would trigger fresh leg lower and expose 1.5960 and 1.5900. Conversely, bounce above 1.6200, would avert immediate downside risk.

Res: 1.6093, 1.6103, 1.6121, 1.6154
Sup: 1.6063, 1.6030, 1.6006, 1.5991

USD/JPY

The pair extends near-term corrective pullback off fresh high at 89.66, posted yesterday, following failure on renewed attempt higher and subsequent fall through initial support at 89.00. Dips so far retraced nearly 38.2% of 86.81/89.66 ascend at 88.62, with prevailing negative tone on hourly chart and 4h indicators descending from overbought zone that suggest further corrective action. Penetration through previous high at 88.40 would risk an extension towards 88.00, Fib 61.8% and 4h 55 day EMA, loss of which would put near-term bulls on hold in favor of stronger reversal of rally from September 2012.

Res: 89.08, 89.66, 90.00, 90.39
Sup: 88.62, 88.40, 88.00, 87.90

USD/CHF

Yesterday’s extension of recovery rally from 0.9100 support zone, eases bear-pressure, as gains retraced 76.4% of 0.9302/0.9109 decline at 0.9260. Improved near-term studies now shift focus higher, however regain of 0.9272 and 0.9300, is required to confirm base at 0.9100/0.9080 zone and allow for stronger correction. Pullback on overbought hourlies should be ideally contained at/above 0.9200, to keep bulls intact.

Res: 0.9260, 0.9272, 0.9300, 0.9345
Sup: 0.9220, 0.9200, 0.9191, 0.9165

 

[WindsorBrokers]

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

EUR/USD

The euro remains at the back foot after repeated attempts at 1.3400 failed and subsequent easing broke below important 1.3300 support, previous resistance and 4h 20 day EMA. This opens prospect for further correction, as hourly structure is negative and 4h indicators continue to slide. The reversal so far retraced 38.2% of 1.3037/1.3401 upleg, bringing immediate risk at 1.3247 higher platform, reinforced by 4h 55 day EMA, loss of which would prompt extension towards psychological 1.3200 support. Hourly 20/55 EMA’s bearish crossover at 1.3325, pressures the price and offers solid resistance, along with 1.3335, previous range floor.

Res: 1.3300, 1.3325, 1.3335, 1.3356
Sup: 1.3262, 1.3247, 1.3220, 1.3200

GBP/USD

Cable lost ground again, following repeated attempt at 1.6100 barrier failure, to return back to 1.6030 support and risk test of more significant 1.6000/1.5990 near-term base, reinforced by daily Ichimoku cloud base.. Studies on 4h chart turned negative and see potential for further weakness, as the price holds below 20/55 day EMA’s, with break below 1.5990 to expose 1.5960, Fib 76.4% of 1.5826/1.6380 and 1.5900, 200 day MA. Only lift above 1.6100 would provide near-term relief.

Res: 1.6044, 1.6079, 1.6100, 1.6121
Sup: 1.6006, 1.5991, 1.5960, 1.5900

USD/JPY

The pair continues to move lower for the third day, on corrective pullback from 89.66. Loss of strong support at 88.40 is seen as a trigger, as the price dents next one at 88.00, retracing 61.8% of 86.81/89.66 upleg at 87.90. Dominating negative tone on hourly chart and 4h studies breaking into negative territory, keep the downside favored, with daily indicators starting to point lower, of overbought zone that additionally supports near-term bears. Holding below 88.00 handle, would likely open way towards 87.00 and more significant 86.81, 09 Jan low. Any bounce higher is seen capped at 89.00 zone for now.

Res: 88.28, 88.74, 88.90, 89.08
Sup: 87.90, 87.48, 87.00, 86.81

USD/CHF

The pair extends recovery rally, clearing key near-term barrier at 0.9300, 04 Jan high that confirm near-term base at 0.9100 and opens way for stronger gains. With gains reaching 0.9330 so far, immediate focus lies at 0.9345, Fib 61.8% of 0.9511/0.9077 descend and 0.9381, 07 Dec 2012 high, to possibly look for test of psychological 0.9400 barrier. Overbought near-term studies, however, see pause in recent gains, with corrective easing facing support at 0.9272 and dips expected to hold at/above 0.9250, Fib 38.2% / 55 day EMA, to keep the bullish bias.

Res: 0.9330, 0.9345, 0.9381, 0.9400
Sup: 0.9293, 0.9372, 0.9246, 0.9220

 

[WindsorBrokers]

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

EUR/USD

The euro remains at the back foot after repeated attempts at 1.3400 failed and subsequent easing broke below important 1.3300 support, previous resistance and 4h 20 day EMA. This opens prospect for further correction, as hourly structure is negative and 4h indicators continue to slide. The reversal so far retraced 38.2% of 1.3037/1.3401 upleg, bringing immediate risk at 1.3247 higher platform, reinforced by 4h 55 day EMA, loss of which would prompt extension towards psychological 1.3200 support. Hourly 20/55 EMA’s bearish crossover at 1.3325, pressures the price and offers solid resistance, along with 1.3335, previous range floor.

Res: 1.3300, 1.3325, 1.3335, 1.3356
Sup: 1.3262, 1.3247, 1.3220, 1.3200

GBP/USD

Cable lost ground again, following repeated attempt at 1.6100 barrier failure, to return back to 1.6030 support and risk test of more significant 1.6000/1.5990 near-term base, reinforced by daily Ichimoku cloud base.. Studies on 4h chart turned negative and see potential for further weakness, as the price holds below 20/55 day EMA’s, with break below 1.5990 to expose 1.5960, Fib 76.4% of 1.5826/1.6380 and 1.5900, 200 day MA. Only lift above 1.6100 would provide near-term relief.

Res: 1.6044, 1.6079, 1.6100, 1.6121
Sup: 1.6006, 1.5991, 1.5960, 1.5900

USD/JPY

The pair continues to move lower for the third day, on corrective pullback from 89.66. Loss of strong support at 88.40 is seen as a trigger, as the price dents next one at 88.00, retracing 61.8% of 86.81/89.66 upleg at 87.90. Dominating negative tone on hourly chart and 4h studies breaking into negative territory, keep the downside favored, with daily indicators starting to point lower, of overbought zone that additionally supports near-term bears. Holding below 88.00 handle, would likely open way towards 87.00 and more significant 86.81, 09 Jan low. Any bounce higher is seen capped at 89.00 zone for now.

Res: 88.28, 88.74, 88.90, 89.08
Sup: 87.90, 87.48, 87.00, 86.81

USD/CHF

The pair extends recovery rally, clearing key near-term barrier at 0.9300, 04 Jan high that confirm near-term base at 0.9100 and opens way for stronger gains. With gains reaching 0.9330 so far, immediate focus lies at 0.9345, Fib 61.8% of 0.9511/0.9077 descend and 0.9381, 07 Dec 2012 high, to possibly look for test of psychological 0.9400 barrier. Overbought near-term studies, however, see pause in recent gains, with corrective easing facing support at 0.9272 and dips expected to hold at/above 0.9250, Fib 38.2% / 55 day EMA, to keep the bullish bias.

Res: 0.9330, 0.9345, 0.9381, 0.9400
Sup: 0.9293, 0.9372, 0.9246, 0.9220

 

[WindsorBrokers]

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

EUR/USD

The single currency has nearly fully retraced near-term corrective pullback from 1.3401 to 1.3255, as yesterday’s fresh rally reached levels just under key 1.3400 barrier. Close above 1.3300 support keeps upside in focus, with notion being supported by positive near-term technicals. Clear break above 1.3400 to signal fresh bull-phase, with no significant obstacles seen towards 1.3485, Feb 2012 high and psychological 1.3500 barrier Immediate supports lie at 1.3360 and 1.3330, with any stronger dips ideally to be contained at 1.3300 zone..

Res: 1.3392, 1.3401, 1.3485, 1.3500
Sup: 1.3360, 1.3332, 1.3316, 1.3300

GBP/USD

Cable continues to travel south, following break and close below important 1.6000 support. Fresh low at 1.5954, posted yesterday, signals that test of next target at 1.5900, also 200 day MA, comes into near-term focus, with near-term negative studies being supportive for such scenario. Corrective bounces would face good barrier at 1.6030/40 zone, also Fib 38.2% of 1.6177/1.5954 that should limit the upside for now.

Res: 1.6008, 1.6038, 1.6065, 1.6079
Sup: 1.5963, 1.5954, 1.5900, 1.5882

USD/JPY

The pair extends gains through previous high at 89.68, resuming the larger rally, with psychological 90.00 barrier being cracked. Positive tone dominates on lower and larger timeframes, as price continue to move higher, despite overbought conditions. Any reversal in the near-term, would face good support at 89.68, with extension lower, expected to hold above 89.00.

Res: 90.19, 90.39, 90.50, 91.00
Sup: 89.80, 89.68, 89.21, 89.00

USD/CHF

Near-term bulls return to play after the price finally broke above yesterday’s congestion, with extension higher, looking for test of psychological 0.9400 barrier and initial target. Break here to open next significant level at 0.9430, previous high / 200 day MA. Positive hourly structure remains supportive, however, 4h indicators close to overbought territory, suggest possible hesitation on approach to 0.9400. Yesterday’s high at 0.9353, acts as initial support, while any further retracement should stay above 0.9300/0.9281, previous range floor, to keep bulls intact.

Res: 0.9386, 0.9400, 0.9430, 0.9450
Sup: 0.9353, 0.9317, 0.9300, 0.9284

 

[WindsorBrokers]

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

EUR/USD

Hourly structure remains negative, as the pair fell below 1.3300 handle last Friday, following repeated failure at 1.3400. With 1.3300 handle been regained, price still struggles to break higher, as hourly 55 day EMA limits the recovery. Studies on 4h chart also hold negative tone that keeps the downside vulnerable, with immediate risk seen on a break below 1.3300 and 1.3280, last Friday’s low and 4h 55 day EMA, that would focus near-term range floor at 1.3255, 16 Jan low. Larger picture shows the pair entrenched within 1.3255/1.3400 range, with risk of double-top formation seen on a clear break below 1.3255/47, range low / Fib 38.2% of 1.2996/1.3401 that would open way for stronger retracement and sideline near-term bulls. Conversely, lift above 1.3250, Fib 61.8% of 1.3397/1.3280, would ease bear-pressure and shift focus towards strong 1.3400 barrier.

Res: 1.3330, 1.3350, 1.3370, 1.3400
Sup: 1.3300, 1.3280, 1.3255, 1.3200

GBP/USD

The pair remains under strong pressure, as last week loss of important 1.6000 support, triggered fresh weakness through our downside target and 200 day MA at 1.5900. The negative tone is dominating on the near-term studies overnight’s gap-lower opening, supporting bears. Mid –November low at 1.5826 comes in focus, with main risk seen on a slide below here that would signal an end of 4-month consolidative, range-trading phase and confirm double-top. Any retracement would face barriers at 1.5900 and more significant 1.6000 that is expected to cap for now.

Res: 1.5900, 1.5922, 1.5954, 1.6000
Sup: 1.5842, 1.5826, 1.5800, 1.5769

USD/JPY

The pair trades in a corrective mode, following the latest rally that peaked at 90.23 last Friday. Loss of initial 89.68 support still keeps the next one at 89.00 intact, however, negative hourly studies and bearish divergence, seen on 4h RSI and MACD, cannot rule out further easing. Next support lies at 89.29, Fib 38.2% of 87.78/90.23 upleg and 89.00, round-figure / 50% retracement, seen as ideal reversal point. Any extension below here, would delay bulls that aim towards 90.40, Fibonacci resistance and opem way for stronger correction towards 88.40.

Res: 89.80, 90.00, 90.23, 90.40
Sup: 89.41, 89.29, 89.00, 88.40

USD/CHF

Near-term structure remains positive, as last week’s fresh gains approached next target and psychological barrier at 0.9400. With current consolidative action being supported at 0.9300, near-term focus remains at the upside targets at 0.9400 and 0.9430, 200 day MA. Only loss of 0.9300 and range floor at 0.9284 would delay and allow for stronger correction towards 0.9250/15, 50% / 61.8% of 0.9109/0.9387 ascend.

Res: 0.9353, 0.9387, 0.9400, 0.9430
Sup: 0.9319, 0.9300, 0.9284, 0.9268

 

[WindsorBrokers]

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

EUR/USD

The single currency continues to move within one-week 1.3400/1.3255 range, with yesterday’s slide being contained at psychological 1.3300 support. Bounce higher brings positive sentiment and sets scope for possible attack at strong 1.3400 barrier. Positive hourly studies support the notion, as the rally retraces 76.4% of 1.3397/1.3280 descend. Holding above 1.3300 base, reinforced by 55 day EMA, keeps near-term bulls in play, while break here would attract lower range boundaries.

Res: 1.3370, 1.3400, 1.3418, 1.3485
Sup: 1.3350, 1.3330, 1.3300, 1.3280

GBP/USD

Negative near-term tone continues to drive the pair lower, as the price approached next target and psychological support at 1.5800, after fully retracing Nov/Jan 1.5826/1.6380 rally. Clear break here to signal fresh bear phase, as the pair breaks below the range, established in Sep 2012. Immediate target at 1.5800 remains in near-term focus, with penetration here to open 1.5753, 28 Aug low, possibly 1.5700, round figure support. Any bounce higher would be seen as corrective with initial barrier at 1.5900, also 200 day MA. Only regain of 1.6000 handle would ease bear-pressure.

Res: 1.5864, 1.5900, 1.5922, 1.5950
Sup: 1.5826, 1.5805, 1.5753, 1.5700

USD/JPY

Fresh weakness off upside rejection level at 90.10, cracked 89.00 support, also 50% of 87.78/90.23, with losses being temporarily contained by 55 day EMA at 88.88. This softens near-term tone and increases risk of further reversal, with near-term focus at Fibonacci supports at 88.72 and 88.36, 61.8% and 76.4% retracement. Corrective actions face good resistance at 89.30/50 zone, while only regain of psychological 90.00 barrier, would shift focus higher again.

Res: 89.35, 89.50, 89.85, 90.10
Sup: 88.88, 88.72, 88.36, 88.12

USD/CHF

The near-term price action seems to be running out of steam, as the price slides to consolidation range floor and psychological support at 0.9300 zone. Hourly indicators show negative readings, as price holds below 20 day EMA, with immediate risk seen on a break below 0.9300/0.9280, range floor / 55 day EMA that would signal completion of H&S pattern, shown on 4-h chart and open way for further easing towards 0.9250/00. Conversely, break above 0.9350, would improve and re-focus upper barriers at 0.9387 and 0.9400.

Res: 0.9350, 0.9387, 0.9400, 0.9430
Sup: 0.9292, 0.9284, 0.9248, 0.9215

 

[WindsorBrokers]

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

EUR/USD

The single currency continues to move within one-week 1.3400/1.3255 range, with yesterday’s slide being contained at psychological 1.3300 support. Bounce higher brings positive sentiment and sets scope for possible attack at strong 1.3400 barrier. Positive hourly studies support the notion, as the rally retraces 76.4% of 1.3397/1.3280 descend. Holding above 1.3300 base, reinforced by 55 day EMA, keeps near-term bulls in play, while break here would attract lower range boundaries.

Res: 1.3370, 1.3400, 1.3418, 1.3485
Sup: 1.3350, 1.3330, 1.3300, 1.3280

GBP/USD

Negative near-term tone continues to drive the pair lower, as the price approached next target and psychological support at 1.5800, after fully retracing Nov/Jan 1.5826/1.6380 rally. Clear break here to signal fresh bear phase, as the pair breaks below the range, established in Sep 2012. Immediate target at 1.5800 remains in near-term focus, with penetration here to open 1.5753, 28 Aug low, possibly 1.5700, round figure support. Any bounce higher would be seen as corrective with initial barrier at 1.5900, also 200 day MA. Only regain of 1.6000 handle would ease bear-pressure.

Res: 1.5864, 1.5900, 1.5922, 1.5950
Sup: 1.5826, 1.5805, 1.5753, 1.5700

USD/JPY

Fresh weakness off upside rejection level at 90.10, cracked 89.00 support, also 50% of 87.78/90.23, with losses being temporarily contained by 55 day EMA at 88.88. This softens near-term tone and increases risk of further reversal, with near-term focus at Fibonacci supports at 88.72 and 88.36, 61.8% and 76.4% retracement. Corrective actions face good resistance at 89.30/50 zone, while only regain of psychological 90.00 barrier, would shift focus higher again.

Res: 89.35, 89.50, 89.85, 90.10
Sup: 88.88, 88.72, 88.36, 88.12

USD/CHF

The near-term price action seems to be running out of steam, as the price slides to consolidation range floor and psychological support at 0.9300 zone. Hourly indicators show negative readings, as price holds below 20 day EMA, with immediate risk seen on a break below 0.9300/0.9280, range floor / 55 day EMA that would signal completion of H&S pattern, shown on 4-h chart and open way for further easing towards 0.9250/00. Conversely, break above 0.9350, would improve and re-focus upper barriers at 0.9387 and 0.9400.

Res: 0.9350, 0.9387, 0.9400, 0.9430
Sup: 0.9292, 0.9284, 0.9248, 0.9215

 

[WindsorBrokers]

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

EUR/USD

The single currency remains in a sideways mode after yesterday’s bumpy ride, with price hovering around 1.3300. Hourly structure, however, is still aligned towards the downside, as the price holds below MA’s and indicators are in the negative zone. While range floor t 1.3280 that proved to be solid support, stays intact, range-trading will remain in play, while break lower would signal a fresh direction and expose 1.3250 and 1.3200. On the upside, regain of yesterday’s spike high at 1.3370, would improve the near-term structure, but only clear break above 1.3400 to signal resumption of an uptrend from 1.2660, 2012 low.

Res: 1.3331, 1.3370, 1.3400, 1.3485
Sup: 1.3280, 1.3255, 1.3200, 1.3151

GBP/USD

Near-term structure maintains negative tone, as the pair, unable to regain initial barrier at 1.5900, returns to near-term base at 1.5800. Bears remain favored, with near-term studies in the negative territory, being supportive for possible slide below 1.5800 handle that will confirm break below 4-month range and open way for fresh leg lower, with 1.5750 and 1.5700 seen as next targets. Any bounce would be of corrective nature and facing strong resistance at 1.5900, 200 day MA, ahead of 1.6000, also 50% of 1.6380/1.5800, break of which is required to provide relief.

Res: 1.5840, 1.5900, 1.5947, 1.6000
Sup: 1.5805, 1.5753, 1.5700, 1.5675

USD/JPY

Yen continues to strengthen against the dollar, on a reversal from 90.23 peak, with initial targets at 88.00 zone being tested so far, just ahead of key near-term support at 87.78, 16 Jan low. As 87.78/90.23 rally has been nearly fully retraced, break lower remains favored for now, with notion being supported by negative near-term studies. However, corrective action may precede fresh bears, as hourly indicators reached oversold zone. Bounces are going to face good resistance at 88.90/89.00 area, where previous highs and Fib 38.2% lie, reinforced by descending 55 day EMA. Only break above 89.50 would delay immediate bears.

Res: 88.36, 88.56, 88.78, 89.00
Sup: 88.05, 87.78, 87.35, 87.00

USD/CHF

Near-term price action still holds above 0.9280, Fib 38.2% of 0.9109/0.9387 upleg and 55 day EMA, following pullback from 0.9387, 18 Jan high, after the pair failed to regain psychological 0.9400 barrier. The hourly structure shows neutral/negative tone, as the price moves within narrow 0.9280/0.9300 range, however, weakening 4h chart studies sees scope for fresh extension lower and test of next targets at 0.9250 and 0.9215, after psychological 0.9300 supports has been cracked. On the upside, corrective rallies face Fibonacci resistances of 38.2% and 50% at 0.9317/30, while only break above 0.9350, yesterday’s high and near 61.8% retracement would signal stronger recovery and sideline near-term bears.


Res: 0.9317, 0.9330, 0.9350, 0.9387
Sup: 0.9283, 0.9273, 0.9248, 0.9215

 

[WindsorBrokers]

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

EUR/USD

The single currency remains in a sideways mode after yesterday’s bumpy ride, with price hovering around 1.3300. Hourly structure, however, is still aligned towards the downside, as the price holds below MA’s and indicators are in the negative zone. While range floor t 1.3280 that proved to be solid support, stays intact, range-trading will remain in play, while break lower would signal a fresh direction and expose 1.3250 and 1.3200. On the upside, regain of yesterday’s spike high at 1.3370, would improve the near-term structure, but only clear break above 1.3400 to signal resumption of an uptrend from 1.2660, 2012 low.

Res: 1.3331, 1.3370, 1.3400, 1.3485
Sup: 1.3280, 1.3255, 1.3200, 1.3151

GBP/USD

Near-term structure maintains negative tone, as the pair, unable to regain initial barrier at 1.5900, returns to near-term base at 1.5800. Bears remain favored, with near-term studies in the negative territory, being supportive for possible slide below 1.5800 handle that will confirm break below 4-month range and open way for fresh leg lower, with 1.5750 and 1.5700 seen as next targets. Any bounce would be of corrective nature and facing strong resistance at 1.5900, 200 day MA, ahead of 1.6000, also 50% of 1.6380/1.5800, break of which is required to provide relief.

Res: 1.5840, 1.5900, 1.5947, 1.6000
Sup: 1.5805, 1.5753, 1.5700, 1.5675

USD/JPY

Yen continues to strengthen against the dollar, on a reversal from 90.23 peak, with initial targets at 88.00 zone being tested so far, just ahead of key near-term support at 87.78, 16 Jan low. As 87.78/90.23 rally has been nearly fully retraced, break lower remains favored for now, with notion being supported by negative near-term studies. However, corrective action may precede fresh bears, as hourly indicators reached oversold zone. Bounces are going to face good resistance at 88.90/89.00 area, where previous highs and Fib 38.2% lie, reinforced by descending 55 day EMA. Only break above 89.50 would delay immediate bears.

Res: 88.36, 88.56, 88.78, 89.00
Sup: 88.05, 87.78, 87.35, 87.00

USD/CHF

Near-term price action still holds above 0.9280, Fib 38.2% of 0.9109/0.9387 upleg and 55 day EMA, following pullback from 0.9387, 18 Jan high, after the pair failed to regain psychological 0.9400 barrier. The hourly structure shows neutral/negative tone, as the price moves within narrow 0.9280/0.9300 range, however, weakening 4h chart studies sees scope for fresh extension lower and test of next targets at 0.9250 and 0.9215, after psychological 0.9300 supports has been cracked. On the upside, corrective rallies face Fibonacci resistances of 38.2% and 50% at 0.9317/30, while only break above 0.9350, yesterday’s high and near 61.8% retracement would signal stronger recovery and sideline near-term bears.


Res: 0.9317, 0.9330, 0.9350, 0.9387
Sup: 0.9283, 0.9273, 0.9248, 0.9215

 

[WindsorBrokers]

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

EUR/USD

No changes in the near-term price action seen in past couple of sessions, as the pair remains in a sideways mode, entrenched within narrowed 1.3264/1.3370 range. Studies on 1 and 4h charts hold neutral mode, with break of either side to signal fresh direction, however, clearance of the wider range boundaries at 1.3255 and 1.3400, is required to confirm.

Res: 1.3350, 1.3370, 1.3386, 1.3400
Sup: 1.3300, 1.3280, 1.3264, 1.3255

GBP/USD

Cable holds 1.5800/1.5900 in past three-days, after finding temporary ground at psychological 1.5800 level. However, near-term tone remains aligned to the downside, as recovery attempts were capped under initial 1.5900 resistance, by descending hourly 20 day EMA and Fib 38.2% of 1.6038/1.5801 descend. Improvement of the near-term structure required break above minimum 1.5950, Fib 61.8% and 55 day EMA, to avert immediate downside risk of losing 1.5800 handle that may accelerate bears towards 1.5750 and 1.5700.

Res: 1.5851, 1.5882, 1.5891, 1.5900
Sup: 1.5811, 1.5801, 1.5753, 1.5700

USD/JPY

Bounce from 88.00, where the price find support, reduces downside pressure, as gains through psychological 89.00 barrier, retraced over 61.8% of 90.23/88.05 fall at 89.44. Improved hourly structure sees potential for stronger recovery, however, still weak studies on 4h chart, require regain of 90.00, to confirm recovery and re-focus 90.23 peak. Psychological 89.00 level now offers support and is reinforced by 4h Ichimoku cloud top and 20/55 day EMA’s bullish crossover, with break here to weaken the structure.

Res: 89.44, 89.72, 90.00, 90.10
Sup: 89.00, 88.87, 88.63, 88.40

USD/CHF

Recovery attempt off 0.9270 zone, where the pair found support, cracks 0.9300 barrier and 0.9317, Fib 38.2% of 0.9387/0.9274 decline, signaling possible further extension higher, as hourly studies turned positive. With 4h structure gaining momentum,. Scope is seen for attempt towards 0.9350 breakpoint, previous highs and Fib 61.8%, to confirm base at 0.9280/70 zone and re-focus 0.9387 and 0.9400.

Res: 0.9319, 0.9330, 0.9350, 0.9387
Sup: 0.9300, 0.9283, 0.9273, 0.9248

 

[WindsorBrokers]

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

EUR/USD

Near-term bulls return to play, as two-day recovery from 1.3264 base cleared initial 1.3370 and key barrier and near-term range top at 1.3400. Fresh strength followed one-week congestion between 1.3264 and 1.3370 and repeated Doji candles, giving tentative signal that the pair is commencing fresh leg higher after consolidative phase. Break above midlines on the 4h chart indicators, supports the current action and sees room for extension higher, with initial targets at 1.3485, 2012 high and 1.3500 zone, 50% of larger 1.4938/1.2042 descend / weekly 200 day MA. Initial supports lie at 1.3370/50, with weekly close above 1.3400 required to confirm bulls.

Res: 1.3400, 1.3427, 1.3485, 1.3490
Sup: 1.3400, 1.3370, 1.3350, 1.3300

GBP/USD

The pair remains under pressure and keeps the downside favored in the near-term, after yesterday’s break below strong 1.5800 support confirmed and end basing attempt and consolidative 1.5800/1.5900 phase. With initial target at 1.5750 being tested so far, focus comes at 1.5700, round figure and Fib 61.8% of larger 1.5267/1.6380 rally. Corrective rallies face initial barrier at 1.5800, near Fib 38.2% of 1.5891/1.5255 descend and 55 day EMA, ahead of Fibonacci resistances at 1.5823/36, 50% / 61.8%, while break above 1.5850 would ease bear-pressure and possibly focus 1.5900, previous range top.

Res: 1.5800, 1.5820, 1.5850, 1.5882
Sup: 1.5755, 1.5700, 1.5660, 1.5600

USD/JPY

The pair fully retraced near-term 90.23/88.05 correction, as clearance of previous high at 90.23, open way for resumption of larger uptrend. Break above 90.39, Fib 76.4% of 94.97/75.56, opens way towards initial 91.00 target. Previous peak at 90.23, along with psychological 90.00 level, offer initial support. Any stronger reversal is expected to find ground at 89.40/50 zone.

Res: 90.67, 91.00, 91.50, 92.00
Sup: 90.25, 90.00, 89.67, 89.36

USD/CHF

The pair comes under increased pressure, after basing attempt at 0.9270 zone and subsequent bounce, failed to sustain gains above 0.9300. Quick reversal and penetration of 0.9270, signals that consolidative phase may be over, as the price also broke below 4h 55 day EMA and fresh weakness towards 0.9250 and 0.9200, Fib 50% / 61.8% of 0.9109/0.9387, would be the likely near-term scenario. Any bounce would be seen as corrective, with recent range top at 0.9323, expected to cap for now.

Res: 0.9300, 0.9323, 0.9330, 0.9350
Sup: 0.9273, 0.9248, 0.9215, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The single currency continues to trend higher, with last Friday’s break and weekly close above 1.3400 barrier, opening way towards key medium-term resistance at 1.3500 zone. Rally peaked at 1.3477, just ahead of 2012 high at 1.3485 and 50% of 1.4938/1.2042 descend at 1.3490 that also marks the neckline of weekly inversed H&S pattern. The barrier is reinforced by weekly 200 day MA and seen as breakpoint for more significant gains, with 1.3800 zone, Fib 61.8%, expected to come in near-term focus on a clear break above 1.3500. Hourly studies are in descending mode, off overbought territory, however, strong 4h chart readings see room for attempt through 1.3500, with 20 day EMA and previous highs at 1.3400, offering good support for now. Only break here would signal further hesitation ahead of 1.3500 and allow for stronger reversal.

Res: 1.3477, 1.3485, 1.3490, 1.3525
Sup: 1.3400, 1.3370, 1.3350, 1.3300

GBP/USD

Cable remains under heavy pressure, as recovery attempt from last Friday’s lows at 1.5750 zone, failed to sustain gains above important 1.5800 level. Fresh weakness, despite weekly close slightly above 1.5800, accelerated on weekly gap-lower opening, focusing initial 1.5700 target. Negative 1 and 4h chart structure keeps the downside favored, however, brief consolidation at 1.5700, is not ruled out, as hourly indicators are entering oversold territory. Below 1.5700, static support at 1.5634, 16 Aug low, is seen next, ahead of psychological 1.5600 level. Session high at 1.5784, offers initial resistance, while filling gap and extension above 1.5800 would delay immediate bears.

Res: 1.5745, 1.5784, 1.5800, 1.5823
Sup: 1.5700, 1.5660, 1.5634, 1.5600

USD/JPY

The pair remains well supported, as last Friday’s rally penetrated psychological 91.00 barrier, to bring the next target at 92.00 zone in near-term focus. Corrective easing is expected to precede fresh rally, with previous high at 90.23, reinforced by 4h 20 day EMA, acting as initial support and dips ideally to be contained around 90.00 zone, also Fib 38.2% of 88.05/91.24 ascend.

Res: 91.24, 91.50, 92.00, 92.50
Sup: 90.55, 90.23, 90.00, 89.64

USD/CHF

Near-term price action moves in a recovery mode, off last Friday’s fresh low at 0.9220, Fib 61.8% of 0.9109/0.9387 rally. Improved hourly conditions see potential for possible attempt at 0.9300 barrier, as the rally retraced 61.8% of 0.9323/0.9220 descend at 0.9287, where 20 day EMA limited gains for now. From the other side, prevailing negative tone on 4h chart does not see much upside potential, as long as the price holds below 0.9323, 24 Jan high. Only break here would sideline bears and shift focus higher. Otherwise, reversal under 0.9323, would risk lower top and fresh weakness towards 0.9220/00.

Res: 0.9287, 0.9300, 0.9323, 0.9345
Sup: 0.9270, 0.9255, 0.9220, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The single currency continues to trend higher, with last Friday’s break and weekly close above 1.3400 barrier, opening way towards key medium-term resistance at 1.3500 zone. Rally peaked at 1.3477, just ahead of 2012 high at 1.3485 and 50% of 1.4938/1.2042 descend at 1.3490 that also marks the neckline of weekly inversed H&S pattern. The barrier is reinforced by weekly 200 day MA and seen as breakpoint for more significant gains, with 1.3800 zone, Fib 61.8%, expected to come in near-term focus on a clear break above 1.3500. Hourly studies are in descending mode, off overbought territory, however, strong 4h chart readings see room for attempt through 1.3500, with 20 day EMA and previous highs at 1.3400, offering good support for now. Only break here would signal further hesitation ahead of 1.3500 and allow for stronger reversal.

Res: 1.3477, 1.3485, 1.3490, 1.3525
Sup: 1.3400, 1.3370, 1.3350, 1.3300

GBP/USD

Cable remains under heavy pressure, as recovery attempt from last Friday’s lows at 1.5750 zone, failed to sustain gains above important 1.5800 level. Fresh weakness, despite weekly close slightly above 1.5800, accelerated on weekly gap-lower opening, focusing initial 1.5700 target. Negative 1 and 4h chart structure keeps the downside favored, however, brief consolidation at 1.5700, is not ruled out, as hourly indicators are entering oversold territory. Below 1.5700, static support at 1.5634, 16 Aug low, is seen next, ahead of psychological 1.5600 level. Session high at 1.5784, offers initial resistance, while filling gap and extension above 1.5800 would delay immediate bears.

Res: 1.5745, 1.5784, 1.5800, 1.5823
Sup: 1.5700, 1.5660, 1.5634, 1.5600

USD/JPY

The pair remains well supported, as last Friday’s rally penetrated psychological 91.00 barrier, to bring the next target at 92.00 zone in near-term focus. Corrective easing is expected to precede fresh rally, with previous high at 90.23, reinforced by 4h 20 day EMA, acting as initial support and dips ideally to be contained around 90.00 zone, also Fib 38.2% of 88.05/91.24 ascend.

Res: 91.24, 91.50, 92.00, 92.50
Sup: 90.55, 90.23, 90.00, 89.64

USD/CHF

Near-term price action moves in a recovery mode, off last Friday’s fresh low at 0.9220, Fib 61.8% of 0.9109/0.9387 rally. Improved hourly conditions see potential for possible attempt at 0.9300 barrier, as the rally retraced 61.8% of 0.9323/0.9220 descend at 0.9287, where 20 day EMA limited gains for now. From the other side, prevailing negative tone on 4h chart does not see much upside potential, as long as the price holds below 0.9323, 24 Jan high. Only break here would sideline bears and shift focus higher. Otherwise, reversal under 0.9323, would risk lower top and fresh weakness towards 0.9220/00.

Res: 0.9287, 0.9300, 0.9323, 0.9345
Sup: 0.9270, 0.9255, 0.9220, 0.9200

 

[WindsorBrokers]

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

EUR/USD

The single currency remains in a near-term consolidative mode, following repeated failure at 1.3477 that keeps key 1.3500 zone intact for now. With the lower boundary of near-term range and 55 day EMA, coming under pressure, further easing is seen likely, as hourly studies are negatively aligned. From the other side, positive tone on 4h chart, keeps the upside in focus, with possible extension into 1.3400/1.3370, Fib 38.2% / 50% of 1.3264/1.3477, seen preceding fresh rally. Only slide below 1.3300, psychological support at Fib 38.2% of larger 1.2996/1.3477, would be harmful for near-term bulls.

Res: 1.3459, 1.3477, 1.3485, 1.3490
Sup: 1.3425, 1.3400, 1.3370, 1.3345

GBP/USD

Cable maintains negative near-term tone, with steady descent from 02 Jan’s peak at 1.6380, losing another support at 1.5700. Yesterday’s close below the latter, suggests further easing towards next targets at 1.5634 and 1.5600. Corrective bounce on oversold hourly conditions faces good resistance at 1.5745, previous low and 50% of 1.5825/1.5673 downleg, with 1.5800 zone expected to cap recovery attempts, as 4h studies remain in red. However, appearance of bullish divergence on 4h chart RSI and MACD, cannot rule out stronger rally that requires break above 1.5800/25 to confirm near-term base and put immediate bears on hold.

Res: 1.5745, 1.5784, 1.5800, 1.5823
Sup: 1.5673, 1.5660, 1.5634, 1.5600

USD/JPY

Hourly structure is neutral, as the pair moves within 90.40/91.00 range, following repeated failure at 91.00 yesterday. More downside risk is seen on 4h chart studies that are in descending mode, from overbought zone, with immediate risk seen on a break below 90.40/23, overnight’s low / 20 day EMA / previous high, as well as psychological 90.00 level, loss of which would trigger stronger corrective action. Conversely, regain of 91.00 would open 91.24 and possible resumption of larger uptrend.

Res: 91.00, 91.08, 91.24, 91.50
Sup: 90.58, 90.40, 90.23, 90.00

USD/CHF

Near-term bears remain in play, as the price slides after yesterday’s recovery failure on approach to psychological 0.9300 barrier, on recovery attempt from 0.9220, last Friday’s fresh low. With 61.8% of 0.9220/91 rally being retraced so far, immediate focus comes at 0.9220/00 support zone, loss of which to signal further retracement of the larger 0.9109/0.9387 rally that so far reversed 61.8%. Negative 1 and 4h chart studies support the notion and only sustained break above 0.9300 barrier, reinforced by daily Ichimoku cloud top, would ease immediate bear-pressure.

Res: 0.9266, 0.9291, 0.9300, 0.9323
Sup: 0.9245, 0.9220, 0.9200, 0.9175

 

[WindsorBrokers]

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

EUR/USD

The single currency remains in a near-term consolidative mode, following repeated failure at 1.3477 that keeps key 1.3500 zone intact for now. With the lower boundary of near-term range and 55 day EMA, coming under pressure, further easing is seen likely, as hourly studies are negatively aligned. From the other side, positive tone on 4h chart, keeps the upside in focus, with possible extension into 1.3400/1.3370, Fib 38.2% / 50% of 1.3264/1.3477, seen preceding fresh rally. Only slide below 1.3300, psychological support at Fib 38.2% of larger 1.2996/1.3477, would be harmful for near-term bulls.

Res: 1.3459, 1.3477, 1.3485, 1.3490
Sup: 1.3425, 1.3400, 1.3370, 1.3345

GBP/USD

Cable maintains negative near-term tone, with steady descent from 02 Jan’s peak at 1.6380, losing another support at 1.5700. Yesterday’s close below the latter, suggests further easing towards next targets at 1.5634 and 1.5600. Corrective bounce on oversold hourly conditions faces good resistance at 1.5745, previous low and 50% of 1.5825/1.5673 downleg, with 1.5800 zone expected to cap recovery attempts, as 4h studies remain in red. However, appearance of bullish divergence on 4h chart RSI and MACD, cannot rule out stronger rally that requires break above 1.5800/25 to confirm near-term base and put immediate bears on hold.

Res: 1.5745, 1.5784, 1.5800, 1.5823
Sup: 1.5673, 1.5660, 1.5634, 1.5600

USD/JPY

Hourly structure is neutral, as the pair moves within 90.40/91.00 range, following repeated failure at 91.00 yesterday. More downside risk is seen on 4h chart studies that are in descending mode, from overbought zone, with immediate risk seen on a break below 90.40/23, overnight’s low / 20 day EMA / previous high, as well as psychological 90.00 level, loss of which would trigger stronger corrective action. Conversely, regain of 91.00 would open 91.24 and possible resumption of larger uptrend.

Res: 91.00, 91.08, 91.24, 91.50
Sup: 90.58, 90.40, 90.23, 90.00

USD/CHF

Near-term bears remain in play, as the price slides after yesterday’s recovery failure on approach to psychological 0.9300 barrier, on recovery attempt from 0.9220, last Friday’s fresh low. With 61.8% of 0.9220/91 rally being retraced so far, immediate focus comes at 0.9220/00 support zone, loss of which to signal further retracement of the larger 0.9109/0.9387 rally that so far reversed 61.8%. Negative 1 and 4h chart studies support the notion and only sustained break above 0.9300 barrier, reinforced by daily Ichimoku cloud top, would ease immediate bear-pressure.

Res: 0.9266, 0.9291, 0.9300, 0.9323
Sup: 0.9245, 0.9220, 0.9200, 0.9175