Short Term Technical Analysis for Majors

[WindsorBrokers]

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

EUR/USD

The Euro eventually attacks strong 1.3500 barrier, after yesterday’s break and close above previous high at 1.3477. Positive sentiment that drives the pair is supported by positive technicals and strong bullish momentum for clear break above 1.3500, 50% retracement of 1.4938/1.2042 and weekly inverted H&S neckline that is seen as a trigger for extension of broader uptrend from July 2012 annual low at 1.2042. Immediate targets lie at 1.3547/67, 02 Dec / 18 Nov 2011 highs, ahead of psychological 1.3600 barrier. On the downside, previous peaks at 1.3477 offer initial support, while any stronger retracement is expected to hold above 1.3420/00, 28/29 Jan range floor / previous highs.

Res: 1.3547, 1.3567, 1.3600, 1.3650
Sup: 1.3495, 1.3477, 1.3460, 1.3420

GBP/USD

Near-term structure remains positive, as the pair recovers from the recent lows under 1.5700 handle, where temporary support was found. With over 61.8% of 1.5825/1.5673 being retraced so far, focus remains at 1.5800/20 breakpoint, reinforced by descending 55 day EMA, clearance of which is required to confirm near-term base and allow for stronger recovery. However, studies on 4h chart are still below their midlines and unless 1.5820 is cleared, risk of lower top and fresh weakness, as a part of larger downmove from 1.6380, still exists.

Res: 1.57721.5784, 1.5800, 1.5823
Sup: 1.5740, 1.5708, 1.5694, 1.5673

USD/JPY

The pair regains strength, as corrective easing from 91.24 peak was contained by 20 day EMA at 90.31, just above strong 90.23/00 support zone. With 91.00 handle being regained and hourly studies turning positive, attack at 91.24 and fresh extension towards 92.00, is seen as likely near-term scenario. Any retracement should not exceed 90.00, in order to keep immediate bulls intact.

Res: 91.08, 91.24, 91.50, 92.00
Sup: 90.83, 90.31, 90.23, 90.00

USD/CHF

Near-term bears remain in play, as the price consolidates above 0.9200 handle, following break below that spiked to 0.9191, Fib 138.2% extension of 0.9220/0.9291 upleg. With negative structure dominating on the lower timeframes studies, the downside remains favored, with sustained break below 0.9200, expected to open 0.9100/0.9080 base. The upside is seen protected at 0.9240/50 zone, Fib 50% / 61.8% of 0.9291/0.9191 / 55 day EMA, where rallies should be capped.


Res: 0.9224, 0.9240, 0.9253, 0.9291
Sup: 0.9205, 0.9191, 0.9175, 0.9109

 

[WindsorBrokers]

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

EUR/USD

The Euro eventually attacks strong 1.3500 barrier, after yesterday’s break and close above previous high at 1.3477. Positive sentiment that drives the pair is supported by positive technicals and strong bullish momentum for clear break above 1.3500, 50% retracement of 1.4938/1.2042 and weekly inverted H&S neckline that is seen as a trigger for extension of broader uptrend from July 2012 annual low at 1.2042. Immediate targets lie at 1.3547/67, 02 Dec / 18 Nov 2011 highs, ahead of psychological 1.3600 barrier. On the downside, previous peaks at 1.3477 offer initial support, while any stronger retracement is expected to hold above 1.3420/00, 28/29 Jan range floor / previous highs.

Res: 1.3547, 1.3567, 1.3600, 1.3650
Sup: 1.3495, 1.3477, 1.3460, 1.3420

GBP/USD

Near-term structure remains positive, as the pair recovers from the recent lows under 1.5700 handle, where temporary support was found. With over 61.8% of 1.5825/1.5673 being retraced so far, focus remains at 1.5800/20 breakpoint, reinforced by descending 55 day EMA, clearance of which is required to confirm near-term base and allow for stronger recovery. However, studies on 4h chart are still below their midlines and unless 1.5820 is cleared, risk of lower top and fresh weakness, as a part of larger downmove from 1.6380, still exists.

Res: 1.57721.5784, 1.5800, 1.5823
Sup: 1.5740, 1.5708, 1.5694, 1.5673

USD/JPY

The pair regains strength, as corrective easing from 91.24 peak was contained by 20 day EMA at 90.31, just above strong 90.23/00 support zone. With 91.00 handle being regained and hourly studies turning positive, attack at 91.24 and fresh extension towards 92.00, is seen as likely near-term scenario. Any retracement should not exceed 90.00, in order to keep immediate bulls intact.

Res: 91.08, 91.24, 91.50, 92.00
Sup: 90.83, 90.31, 90.23, 90.00

USD/CHF

Near-term bears remain in play, as the price consolidates above 0.9200 handle, following break below that spiked to 0.9191, Fib 138.2% extension of 0.9220/0.9291 upleg. With negative structure dominating on the lower timeframes studies, the downside remains favored, with sustained break below 0.9200, expected to open 0.9100/0.9080 base. The upside is seen protected at 0.9240/50 zone, Fib 50% / 61.8% of 0.9291/0.9191 / 55 day EMA, where rallies should be capped.


Res: 0.9224, 0.9240, 0.9253, 0.9291
Sup: 0.9205, 0.9191, 0.9175, 0.9109

 

[WindsorBrokers]

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

EUR/USD

The pair continues to trend higher and approaches the next target at 1.3600, following break above very strong 1.3500 resistance zone. Positive technical were supported by fundamentals that gave the single currency an additional boost. Corrective easing on overbought hourly / 4h conditions faces support at 1.3520, Fib 38.2% of 1.3413/1.3587, reinforced by hourly 55 day EMA and strong one at 1.3500 zone, previous resistance. Yesterday’s close above 1.3500 and 1.3526, 200 day MA is seen supportive, with clearance of psychological 1.3600, seeing no significant barriers until 1.3700, round figure and 1.3726, Fib 76.4% of 1.4246/1.2042 descend.

Res: 1.3547, 1.3567, 1.3600, 1.3650
Sup: 1.3532, 1.3520, 1.3500, 1.3477

GBP/USD

Cable holds positive near-term sentiment, extending recovery from 1.5700 support zone. Regain of initial 1.5800 barrier and test of more significant 1.5825 breakpoint, sees scope for fresh extension higher and possible full retracement of 1.5891/1.5673 downleg, above which to open way for stronger recovery. Break above 4h 55 day EMA and 4h indicators entering positive territory, supports the notion. Previous barriers at 1.5800/ 1.5780 zone, now act as initial supports.

Res: 1.5840, 1.5850, 1.5891, 1.5925
Sup: 1.5800, 1.5780, 1.5764, 1.5724

USD/JPY

Near-term price action moves in a consolidative mode, following yesterday’s stretch to a fresh high at 91.40. While immediate support higher platform base at 90.40 zone stays intact, near-term structure will remain aligned towards the upside. Extension of broader uptrend through 91.40, to focus next barrier at 92.00. Hourly studies hold neutral tone, however, reversing 4h chart indicators do not rule out further easing that would harm immediate bulls if psychological / Fibonacci support at 90.00 contains any stronger dips.

Res: 91.00, 91.25, 91.40, 92.00
Sup: 90.73, 90.55, 90.31, 90.23

USD/CHF

The pair accelerated losses after repeated attempt lower finally broke below 0.9200 support and fresh slide dipped through 0.9100, to test very strong support and near-term base at 0.9080. Dominating negative tone on lower and larger timeframes studies, keeps bears firmly in play, however, corrective action on oversold conditions and attempt at strong support, is seen preceding fresh leg lower. Minor resistance lies at 0.9120 zone, with more significant barrier seen at 0.9165, Fib 38.2% of 0.9291/0.9086 downleg, reinforced by descending hourly 55 day EMA, while 0.9200 zone is seen capping for now. On the downside, break below 0.9080 to open psychological 0.9000, also March 2012 low, next.

Res: 0.9125, 0.9140, 0.9165, 0.9188
Sup: 0.9086, 0.9080, 0.9050, 0.9000

 

[WindsorBrokers]

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

EUR/USD

The pair continues to trend higher and approaches the next target at 1.3600, following break above very strong 1.3500 resistance zone. Positive technical were supported by fundamentals that gave the single currency an additional boost. Corrective easing on overbought hourly / 4h conditions faces support at 1.3520, Fib 38.2% of 1.3413/1.3587, reinforced by hourly 55 day EMA and strong one at 1.3500 zone, previous resistance. Yesterday’s close above 1.3500 and 1.3526, 200 day MA is seen supportive, with clearance of psychological 1.3600, seeing no significant barriers until 1.3700, round figure and 1.3726, Fib 76.4% of 1.4246/1.2042 descend.

Res: 1.3547, 1.3567, 1.3600, 1.3650
Sup: 1.3532, 1.3520, 1.3500, 1.3477

GBP/USD

Cable holds positive near-term sentiment, extending recovery from 1.5700 support zone. Regain of initial 1.5800 barrier and test of more significant 1.5825 breakpoint, sees scope for fresh extension higher and possible full retracement of 1.5891/1.5673 downleg, above which to open way for stronger recovery. Break above 4h 55 day EMA and 4h indicators entering positive territory, supports the notion. Previous barriers at 1.5800/ 1.5780 zone, now act as initial supports.

Res: 1.5840, 1.5850, 1.5891, 1.5925
Sup: 1.5800, 1.5780, 1.5764, 1.5724

USD/JPY

Near-term price action moves in a consolidative mode, following yesterday’s stretch to a fresh high at 91.40. While immediate support higher platform base at 90.40 zone stays intact, near-term structure will remain aligned towards the upside. Extension of broader uptrend through 91.40, to focus next barrier at 92.00. Hourly studies hold neutral tone, however, reversing 4h chart indicators do not rule out further easing that would harm immediate bulls if psychological / Fibonacci support at 90.00 contains any stronger dips.

Res: 91.00, 91.25, 91.40, 92.00
Sup: 90.73, 90.55, 90.31, 90.23

USD/CHF

The pair accelerated losses after repeated attempt lower finally broke below 0.9200 support and fresh slide dipped through 0.9100, to test very strong support and near-term base at 0.9080. Dominating negative tone on lower and larger timeframes studies, keeps bears firmly in play, however, corrective action on oversold conditions and attempt at strong support, is seen preceding fresh leg lower. Minor resistance lies at 0.9120 zone, with more significant barrier seen at 0.9165, Fib 38.2% of 0.9291/0.9086 downleg, reinforced by descending hourly 55 day EMA, while 0.9200 zone is seen capping for now. On the downside, break below 0.9080 to open psychological 0.9000, also March 2012 low, next.

Res: 0.9125, 0.9140, 0.9165, 0.9188
Sup: 0.9086, 0.9080, 0.9050, 0.9000

 

[WindsorBrokers]

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

EUR/USD

The single currency continues to rally higher, with 1.3600 barrier being cleared during the Asian session. Near-term bulls remain unobstructed, with strong bullish reading on 4h ADX, signaling further extension. Overbought 4h RSI still holds above its 7-day day and points higher, accompanied with strong bullish momentum that see potential for stretch towards 1.3700, round figure resistance and 1.3726, Fib 76.4% of larger 1.4246/1.2042 descend. Any reversal would face initial support at 1.3590 zone, ahead of more significant 1.3550/40, yesterday’s consolidation floor / 4h 20 day EMA.

Res: 1.3639, 1.3650, 1.3700, 1.3726
Sup: 1.3587, 1.3540, 1.3500, 1.3477

GBP/USD

Cable maintains positive near-term tone, as yesterday’s strong rally through 1.5825 breakpoint, extended gains through Fib 38.2% at 1.5866 and approached psychological 1.5900 barrier, also 200 day MA. Sideways moving hourly studies suggest that further consolidation is likely, while ascending 4h indicators see scope for attack at 1.5900 and 1.5925, 50% of 1.6177/1.5673, break of which and weekly close above, would attract psychological 1.6000 barrier in the near-term. Bullish crossover of 10/55 day EMA’s at 1.5825 that also acts as static support, underpins the action, while only loss of 1.5800 would be bearish.

Res: 1.5891, 1.5900, 1.5925, 1.5943
Sup: 1.5845, 1.5825, 1.5800, 1.5780

USD/JPY

The pair resumes its strong rally after breaking above three-day 90.30/91.40 consolidation. Break above previous high and clearance of our net target at 92.00, shows that near-term bulls remain fully in play, despite overbought conditions on lower and larger timeframes studies. Nest upside target lies at 92.87, May 2010 high, with full retracement of broader 94.97/75.55 bear phase, seen as near-term scenario. However, overextended technicals should anticipate corrective action, with good supports lying at 91.40/25, then 91.00/90.77. Key near-term support and breakpoint lies at 90.30.

Res: 92.28, 92.50, 93.00, 93.50
Sup: 91.85, 91.60, 91.40, 91.25

USD/CHF

Near-term structure remains bearish, as 4h ADX keeps bears fully in play, while hourly structure turns into sideways mode, as the price hesitates at strong support and base at 0.9080 that holds for now. However, hourly studies are still in red that keeps the downside favored, with any stronger bounce, requiring break above near-term cap at 0.9120 and 0.9150, 4h 20 day EMA and 50% of 0.9225/0.9073, to ease immediate bear-pressure, while break above 0.9200/25 would provide relief. On the downside, loss of 0.9080 base to open 0.9000 next.

Res: 0.9106, 0.9125, 0.9150, 0.9172
Sup: 0.9073, 0.9050, 0.9000, 0.8930

 

[WindsorBrokers]

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

EUR/USD

The Euro eased further, to nearly fully retrace 1.3540/1.3710 upleg, once 1.3600 handle was lost. Initial signals of basing are seen on hourly chart, as 1.3540/30 area is seen as ideal reversal point, between 50% and 61.8% of larger 1.3413/1.3710 ascend, to keep underlying bull-trend intact. To confirm this scenario and re-focus 1.3700 zone, regain of minimum 1.3650, 61.8% of 1.3710/1.3547 decline is required. Conversely, loss of 1.3540 handle, would risk extension towards 1.3500/1.3477, next support levels.

Res: 1.3585, 1.3617, 1.3648, 1.3674
Sup: 1.3540, 1.3528, 1.3500, 1.3477

GBP/USD

Cable enters near-term corrective phase sharp slide from last Friday peak at 1.5877, found footstep at 1.5684, just ahead of more important 1.5673, 28 Jan fresh 5-month low. Current bounce is seen as further consolidation ahead of fresh leg lower, as previous recovery attempt was rejected on approach to psychological / 200 day MA resistance that keeps the upside limited for now. Upside extension through 1.5700, sees strong barrier at 1.5760, Fib 38.2% of 1.5877/1.5684 and hourly 55 day EMA, with potential break higher to prolong the consolidation and allow for possible recovery towards Fibonacci resistances at 1.5780/1.5800, 50% and 61.8% retracement. On the downside, penetration of 1.5684/73, would open fresh bear-phase and expose 1.5600.

Res: 1.5760, 1.5773, 1.5800, 1.5845
Sup: 1.5707, 1.5684, 1.5673, 1.5634

USD/JPY

Fresh extension through psychological 93.00 barrier, show bulls firmly in play for possible test of our next upside targets at 93.75, Jan 2010 high and 94.00, round-figure barrier. Daily studies continue to point higher, despite overextended conditions that so far did not generate any reversal signal. On the other side, easing towards initial support and higher base at 92.50, was triggered by overbought 1/4h studies, with further corrective dips towards 92.00 zone, Fib 38.2% of 90.73/93.17 / 4h 20 day EMA, seen not harmful for near-term bulls.

Res: 92.95, 93.17, 93.50, 93.75
Sup: 92.50, 92.28, 92.00, 91.77

USD/CHF

Corrective action from last Friday’s fresh low at 0.9020, remains capped under initial barrier at 0.9120, 31 Jan highs / Fib 38.2% of 0.9291/0.9020 descend / 20 day EMA, keeping the downside at risk. As hourly studies are losing traction and 4h indicators remain in the negative territory, not much of recovery could be expected in the near-term, as long as market stays below psychological / 50% retracement barrier at 0.9200. This keeps the downside favored for now, as loss of 0.9020/00 support are would open 0.8930, Feb 2012 low and 0.8900, psychological support, next.

Res: 0.9120, 0.9156, 0.9187, 0.9200
Sup: 0.9074, 0.9020, 0.9000, 0.8930

 

[WindsorBrokers]

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

EUR/USD

The Euro eased further, to nearly fully retrace 1.3540/1.3710 upleg, once 1.3600 handle was lost. Initial signals of basing are seen on hourly chart, as 1.3540/30 area is seen as ideal reversal point, between 50% and 61.8% of larger 1.3413/1.3710 ascend, to keep underlying bull-trend intact. To confirm this scenario and re-focus 1.3700 zone, regain of minimum 1.3650, 61.8% of 1.3710/1.3547 decline is required. Conversely, loss of 1.3540 handle, would risk extension towards 1.3500/1.3477, next support levels.

Res: 1.3585, 1.3617, 1.3648, 1.3674
Sup: 1.3540, 1.3528, 1.3500, 1.3477

GBP/USD

Cable enters near-term corrective phase sharp slide from last Friday peak at 1.5877, found footstep at 1.5684, just ahead of more important 1.5673, 28 Jan fresh 5-month low. Current bounce is seen as further consolidation ahead of fresh leg lower, as previous recovery attempt was rejected on approach to psychological / 200 day MA resistance that keeps the upside limited for now. Upside extension through 1.5700, sees strong barrier at 1.5760, Fib 38.2% of 1.5877/1.5684 and hourly 55 day EMA, with potential break higher to prolong the consolidation and allow for possible recovery towards Fibonacci resistances at 1.5780/1.5800, 50% and 61.8% retracement. On the downside, penetration of 1.5684/73, would open fresh bear-phase and expose 1.5600.

Res: 1.5760, 1.5773, 1.5800, 1.5845
Sup: 1.5707, 1.5684, 1.5673, 1.5634

USD/JPY

Fresh extension through psychological 93.00 barrier, show bulls firmly in play for possible test of our next upside targets at 93.75, Jan 2010 high and 94.00, round-figure barrier. Daily studies continue to point higher, despite overextended conditions that so far did not generate any reversal signal. On the other side, easing towards initial support and higher base at 92.50, was triggered by overbought 1/4h studies, with further corrective dips towards 92.00 zone, Fib 38.2% of 90.73/93.17 / 4h 20 day EMA, seen not harmful for near-term bulls.

Res: 92.95, 93.17, 93.50, 93.75
Sup: 92.50, 92.28, 92.00, 91.77

USD/CHF

Corrective action from last Friday’s fresh low at 0.9020, remains capped under initial barrier at 0.9120, 31 Jan highs / Fib 38.2% of 0.9291/0.9020 descend / 20 day EMA, keeping the downside at risk. As hourly studies are losing traction and 4h indicators remain in the negative territory, not much of recovery could be expected in the near-term, as long as market stays below psychological / 50% retracement barrier at 0.9200. This keeps the downside favored for now, as loss of 0.9020/00 support are would open 0.8930, Feb 2012 low and 0.8900, psychological support, next.

Res: 0.9120, 0.9156, 0.9187, 0.9200
Sup: 0.9074, 0.9020, 0.9000, 0.8930

 

[WindsorBrokers]

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

EUR/USD

Underlying bull-trend remains intact as reversal from 1.3710 found support at 1.3458 yesterday, ahead of more significant supports at 1.3430, daily 20 day EMA and 1.3400, previous tops. Subsequent bounce to 1.3600 barrier that retraced over 50% of 1.3710/1.3458 downleg, regained some bullish momentum, with break above 1.3600, required to maintain positive sentiment. Otherwise the downside will remain vulnerable, with immediate support at 1.3500 and risk seen on a break here to expose 1.3458, below which would complete the failure swing and open way for deeper pullback.

Res: 1.3595, 1.3614, 1.3635, 1.3651
Sup: 1.3523, 1.3500, 1.3458, 1.3430

GBP/USD

Cable continues to trend lower after basing attempt at 1.5673/84 failed and break lower tested next target at 1.5634, 16 Aug low, ahead of psychological 1.5600 level. Yesterday’s outside day confirms negative structure and keeps the downside favored, as lower timeframe studies maintain bearish tone and keep immediate focus at 1.5600, also Fib 100% expansion of the wave from 1.5804, as break below 1.5600 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 rally. Corrective attempts have so far been capped by descending 10 day EMA and ahead of strong resistances at 1.5673/84

Res: 1.5665, 1.5673, 1.5684, 1.5700
Sup: 1.5629, 1.5600, 1.5550, 1.5530

USD/JPY

Bulls remain fully in play, despite overextended larger picture studies, with the pair continuing its steady rise by posting fresh 33-month high at psychological 94.00 barrier. This opens way towards the next target and key med-term barrier at 94.97, May 2010 high, regain of which to confirm full retracement of 2010/2011 descend and confirm base at 75 zone, lows of 2011. Any reversal should ideally hold above 92.00 handle, to keep the structure intact.

Res: 94.00, 94.50, 94.97, 95.72
Sup: 93.50, 93.17, 93.00, 92.76

USD/CHF

The near-term structure shows signs of improvement, as the price attempts above one-week consolidation top at 0.9120. Fresh bullish momentum rises hopes of stronger recovery, with clearance of 0.9150/60, 55 day EMA / Fib 38.2% of 0.9387/0.9020, required to confirm and open 0.9200, round figure / 50% retracement. However, larger picture maintains bearish tone and keeps the downside favored, as long as 0.9300, daily Ichimoku cloud top stays intact.

Res: 0.9150, 0.9160, 0.9191, 0.9220
Sup: 0.9120, 0.9100, 0.9074, 0.9020

 

[WindsorBrokers]

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

EUR/USD

Underlying bull-trend remains intact as reversal from 1.3710 found support at 1.3458 yesterday, ahead of more significant supports at 1.3430, daily 20 day EMA and 1.3400, previous tops. Subsequent bounce to 1.3600 barrier that retraced over 50% of 1.3710/1.3458 downleg, regained some bullish momentum, with break above 1.3600, required to maintain positive sentiment. Otherwise the downside will remain vulnerable, with immediate support at 1.3500 and risk seen on a break here to expose 1.3458, below which would complete the failure swing and open way for deeper pullback.

Res: 1.3595, 1.3614, 1.3635, 1.3651
Sup: 1.3523, 1.3500, 1.3458, 1.3430

GBP/USD

Cable continues to trend lower after basing attempt at 1.5673/84 failed and break lower tested next target at 1.5634, 16 Aug low, ahead of psychological 1.5600 level. Yesterday’s outside day confirms negative structure and keeps the downside favored, as lower timeframe studies maintain bearish tone and keep immediate focus at 1.5600, also Fib 100% expansion of the wave from 1.5804, as break below 1.5600 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 rally. Corrective attempts have so far been capped by descending 10 day EMA and ahead of strong resistances at 1.5673/84

Res: 1.5665, 1.5673, 1.5684, 1.5700
Sup: 1.5629, 1.5600, 1.5550, 1.5530

USD/JPY

Bulls remain fully in play, despite overextended larger picture studies, with the pair continuing its steady rise by posting fresh 33-month high at psychological 94.00 barrier. This opens way towards the next target and key med-term barrier at 94.97, May 2010 high, regain of which to confirm full retracement of 2010/2011 descend and confirm base at 75 zone, lows of 2011. Any reversal should ideally hold above 92.00 handle, to keep the structure intact.

Res: 94.00, 94.50, 94.97, 95.72
Sup: 93.50, 93.17, 93.00, 92.76

USD/CHF

The near-term structure shows signs of improvement, as the price attempts above one-week consolidation top at 0.9120. Fresh bullish momentum rises hopes of stronger recovery, with clearance of 0.9150/60, 55 day EMA / Fib 38.2% of 0.9387/0.9020, required to confirm and open 0.9200, round figure / 50% retracement. However, larger picture maintains bearish tone and keeps the downside favored, as long as 0.9300, daily Ichimoku cloud top stays intact.

Res: 0.9150, 0.9160, 0.9191, 0.9220
Sup: 0.9120, 0.9100, 0.9074, 0.9020

 

[WindsorBrokers]

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

EUR/USD

The Euro starts the week in the red territory, after Friday’s close below 1.3400 handle and retraced 50% of 1.3037/1.3710 ascend. Negative 4h studies see room for further weakness, with psychological / Fib 61.8% 1.3300 seen next, ahead of strong 1.3265 higher platform and trendline support. Brief correction on oversold hourlies, does not see much upside potential for now, as initial 1.3400 barrier stays intact for now, ahead of more significant 1.3428, Friday’s high / 20 day EMA and 1.3458, 05 Feb low.

Res: 1.3400, 1.3428, 1.3458, 1.3500
Sup: 1.3352, 1.3300, 1.3265, 1.3200

GBP/USD

Cable corrects last Thu/Fri corrective rally that spiked above 1.5800, as Friday’s close occurred below 1.5800 and fresh weakness pressures the price at the beginning of European session. Hourly structure maintains positive tone, however, underlying bear-trend, sees risk of lower top, as gains were limited by descending 20 day EMA and failed to regain 1.5877, 01 Feb previous top. With 4h studies holding in the negative territory and 38.2% of 1.5630/1.5843 rally being retraced so far, near-term risk of losing 1.5740/00 supports that would bring near-term bears back in play, for possible re-visit of 1.5630/00. Alternative scenario requires clearance of 1.5877 and close above here, with regain of minimum 1.5900 to confirm reversal pattern.

Res: 1.5800, 1.5843, 1.5877, 1.5900
Sup: 1.5750, 1.5737, 1.5711, 1.5700

USD/JPY

Near-term structure remains weak, as bounce from 92.00 zone, where reversal from 94.02 found temporary ground, remains capped under 93.00 handle. Near-term price action is stuck between 4h 55 day EMA on the downside and 20 day EMA on the upside. With 4h indicators penetrating below the midlines, downside risk persists. Break below 92.00 is required to trigger further reversal and open Fibonacci supports at 91.74 and 91.0., 38.2% and 50% of 88.05/94.02 ascend. Conversely, sustained break above 93.00, would avert immediate downside risk and confirm basing attempt.

Res: 92.91, 93.00, 93.31, 93.58
Sup: 92.40, 92.17, 92.00, 91.77

USD/CHF

Near-term price action moves in a consolidative mode, holding below 0.9200 barrier, 50% of 0.9387/0.9020 descend, reached yesterday, with brief easing being contained by 0.9150, 06 Feb spike high and 20/55 day EMA’s bullish crossover.. Hourly studies are lacking momentum, despite being in the positive territory, however, more supportive 4h structure, sees scope for eventual attempt through 0.9200, also daily Ichimoku cloud base, with close above here, seen as initial signal for stronger correction that was indicated by a triple Doji and subsequent bounce.


Res: 0.9186, 0.9200, 0.9220, 0.9250
Sup: 0.9150, 0.9131, 0.9115, 0.9095

 

[WindsorBrokers]

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

EUR/USD

The Euro trades in a sideways mode, consolidating recent reversal from 1.3710 that found footstep at 1.3352, the midpoint of 1.2996/1.3710 upleg. Near-term price action moves within 1.3352 and 1.3428, last Friday’s high / low, as yesterday’s recovery rally stalled at 1.3426, where 4h 20 day EMA capped. Hourly studies remain neutral, while 4h structure is still neutral and sees the downside at risk, as long as the price holds within near-term bear-channel off 1.3710. Initial barriers lie at 1.3428 and 1.3438, Fib 38.2% of 1.3710/1.3352, ahead of pivotal 1.3460 area, 05 Feb low / 50% of 1.3576/1.3352 / channel resistance, break of which to signal recovery, confirmation of which requires break above 1.3500. On the downside, slide below 1.3352 would signal bearish continuation and open psychological 1.3300 support, ahead of more significant 1.3260, higher platform / bull-trendline off 1.2660.

Res: 1.3400, 1.3428, 1.3458, 1.3500
Sup: 1.3375, 1.3352, 1.3300, 1.3265

GBP/USD

Cable lost ground after pullback from last Friday’s high at 1.5843 accelerated and lost 1.5740/00 handles, to nearly fully retrace 1.5630/1.5843 recovery rally. This suggests that broader bearish structure, triggered by break below four-month range and multi-year bull-trendline from 2009 low at 1.3500, remains intact and keeps the downside in focus. Completion of near-term corrective phase below 1.5630, opens 1.5600, then 1.5530, Fib 76.4% of 1.5267/1.6380 ascend. Previous supports at 1.5700 and 1.5740 now act as resistances and are expected to cap for now.

Res: 1.5680, 1.5700, 1.5740, 1.5765
Sup: 1.5640, 1.5630, 1.5600, 1.5530

USD/JPY

Bulls returned to play after recovery rally from 92.17 base accelerated through 94.00 barrier that signals bullish continuation of larger uptrend from 77.00 zone. This brings our initial target at 94.97, May 2010 high, in near-term focus, break of which to confirm medium-term base and signal stronger recovery of 2007/2011 downtrend. Corrective dips are seen preceding fresh rally, as the price pulls back from yesterday’s fresh high at 94.45, with 94.00 zone holding for now. Only slide below 92.00, would have the stronger impact on the near-term structure.

Res: 94.35, 94.45, 94.97, 95.72
Sup: 93.85, 93.58, 93.31, 93.00

USD/CHF

The pair holds positive tone, as break 0.9200 barrier, 50% of 0.9387/0.9020 descend signals resumption of recovery rally from 0.9020 that paused on 0.9200/0.9150 consolidative phase. Positive near-term studies support the notion, with initial barrier at 0.9247, Fib 61.8%, seen as a trigger for extension towards psychological / Fib 76.4% resistance at 0.9300. Any slide below 0.9200, should hold above 0.9150, recent rage floor, to keep near-term bulls afloat. However, overall bearish tone persists and improvement requires regain of 0.9400 zone, previous highs / 200 day MA.

Res: 0.9247, 0.9273, 0.9300, 0.9323
Sup: 0.9200, 0.9178, 0.9150, 0.9115

 

[WindsorBrokers]

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

EUR/USD

The Euro trades in a sideways mode, consolidating recent reversal from 1.3710 that found footstep at 1.3352, the midpoint of 1.2996/1.3710 upleg. Near-term price action moves within 1.3352 and 1.3428, last Friday’s high / low, as yesterday’s recovery rally stalled at 1.3426, where 4h 20 day EMA capped. Hourly studies remain neutral, while 4h structure is still neutral and sees the downside at risk, as long as the price holds within near-term bear-channel off 1.3710. Initial barriers lie at 1.3428 and 1.3438, Fib 38.2% of 1.3710/1.3352, ahead of pivotal 1.3460 area, 05 Feb low / 50% of 1.3576/1.3352 / channel resistance, break of which to signal recovery, confirmation of which requires break above 1.3500. On the downside, slide below 1.3352 would signal bearish continuation and open psychological 1.3300 support, ahead of more significant 1.3260, higher platform / bull-trendline off 1.2660.

Res: 1.3400, 1.3428, 1.3458, 1.3500
Sup: 1.3375, 1.3352, 1.3300, 1.3265

GBP/USD

Cable lost ground after pullback from last Friday’s high at 1.5843 accelerated and lost 1.5740/00 handles, to nearly fully retrace 1.5630/1.5843 recovery rally. This suggests that broader bearish structure, triggered by break below four-month range and multi-year bull-trendline from 2009 low at 1.3500, remains intact and keeps the downside in focus. Completion of near-term corrective phase below 1.5630, opens 1.5600, then 1.5530, Fib 76.4% of 1.5267/1.6380 ascend. Previous supports at 1.5700 and 1.5740 now act as resistances and are expected to cap for now.

Res: 1.5680, 1.5700, 1.5740, 1.5765
Sup: 1.5640, 1.5630, 1.5600, 1.5530

USD/JPY

Bulls returned to play after recovery rally from 92.17 base accelerated through 94.00 barrier that signals bullish continuation of larger uptrend from 77.00 zone. This brings our initial target at 94.97, May 2010 high, in near-term focus, break of which to confirm medium-term base and signal stronger recovery of 2007/2011 downtrend. Corrective dips are seen preceding fresh rally, as the price pulls back from yesterday’s fresh high at 94.45, with 94.00 zone holding for now. Only slide below 92.00, would have the stronger impact on the near-term structure.

Res: 94.35, 94.45, 94.97, 95.72
Sup: 93.85, 93.58, 93.31, 93.00

USD/CHF

The pair holds positive tone, as break 0.9200 barrier, 50% of 0.9387/0.9020 descend signals resumption of recovery rally from 0.9020 that paused on 0.9200/0.9150 consolidative phase. Positive near-term studies support the notion, with initial barrier at 0.9247, Fib 61.8%, seen as a trigger for extension towards psychological / Fib 76.4% resistance at 0.9300. Any slide below 0.9200, should hold above 0.9150, recent rage floor, to keep near-term bulls afloat. However, overall bearish tone persists and improvement requires regain of 0.9400 zone, previous highs / 200 day MA.

Res: 0.9247, 0.9273, 0.9300, 0.9323
Sup: 0.9200, 0.9178, 0.9150, 0.9115

 

[WindsorBrokers]

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

EUR/USD

The single currency regained some ground, as bounce from 1.3352 base cracked important barrier at 1.3365, channel resistance / 50% of 1.3576/1.3352, but failed to break higher. Consolidative action is for now held by hourly 20 day EMA and above 1.3430, previous range tops that keeps immediate focus at the upside. However, hourly studies are in positive territory but lacking momentum for now, while 4h structure looks more supportive. Break above 1.3465 is seen as initial trigger for further recovery, with clearance of 1.3500 barrier, near 61.8%, required to confirm. Conversely, slide under 1.3400, would weaken the structure and re-focus 1.3352.

Res: 1.3465, 1.3477, 1.3490, 1.3500
Sup: 1.3430, 1.3400, 1.3370, 1.3352

GBP/USD

Yesterday’s recovery rally from fresh annual low at 1.5572, retraced daily losses and returned to the opening levels, but lacked strength to clear pivotal 1.5700 barrier, also 50% of 1.5843/1.5572. Slight improvement on hourly studies is insufficient for stronger recovery for now, as 4h structure remains negative, along with overall bearish picture that describes the latest rally as corrective and preceding fresh weakness. Slide below 1.5600/1.5572 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 and 1.5500 next. Only clear break above 1.5700, would delay immediate bears for 1.5740/1.5780, while more significant improvement requires regain of 1.5843/77 peaks.

Res: 1.5675, 1.5688, 1.5700, 1.5740
Sup: 1.5645, 1.5600, 1.5572, 1.5545

USD/JPY

Sharp reversal from yesterday’s high at 94.40 dipped below important 93.00, Fib 61.8% of 92.17/94.45 and weakened near-term structure. Dips were so far contained by 55 day EMA at 92.80, with quick reversal above 93.00, keeping the bullish stance. However, failure to regain 93.60, yesterday’s intraday high and 50% of 94.40/92.80 slide, would risk fresh weakness that may focus key near-term support at 92.00, loss of which would be bearish. From the other side, lift above 93.60 and regain of 94.40, to bring bulls fully in play for possible retest of strong 94.45/40 barrier.

Res: 93.44, 93.60, 93.85, 94.00
Sup: 93.00, 92.80, 92.44, 92.17

USD/CHF

The pair lost traction, after failure to clear 0.9200 breakpoint, as gains stalled at 0.9213, capped by daily Ichimoku cloud base. Subsequent reversal returned to near-term range floor at 0.9150 that so far contained dip, along with 55 day EMA. Negative hourly structure keeps the downside at risk, with 4h chart indicators losing momentum. Loss of 0.9150/40, recent range floor and Fib 38.2% of 0.9020/0.9213 would revive near-term bears for test of 0.9100, while lift above 0.9200, requires regain of 0.9247, 50% of 0.9387/0.9020, to improve.

Res: 0.9180, 0.9200, 0.9213, 0.9247
Sup: 0.9150, 0.9115, 0.9100, 0.9065

 

[WindsorBrokers]

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

EUR/USD

The single currency regained some ground, as bounce from 1.3352 base cracked important barrier at 1.3365, channel resistance / 50% of 1.3576/1.3352, but failed to break higher. Consolidative action is for now held by hourly 20 day EMA and above 1.3430, previous range tops that keeps immediate focus at the upside. However, hourly studies are in positive territory but lacking momentum for now, while 4h structure looks more supportive. Break above 1.3465 is seen as initial trigger for further recovery, with clearance of 1.3500 barrier, near 61.8%, required to confirm. Conversely, slide under 1.3400, would weaken the structure and re-focus 1.3352.

Res: 1.3465, 1.3477, 1.3490, 1.3500
Sup: 1.3430, 1.3400, 1.3370, 1.3352

GBP/USD

Yesterday’s recovery rally from fresh annual low at 1.5572, retraced daily losses and returned to the opening levels, but lacked strength to clear pivotal 1.5700 barrier, also 50% of 1.5843/1.5572. Slight improvement on hourly studies is insufficient for stronger recovery for now, as 4h structure remains negative, along with overall bearish picture that describes the latest rally as corrective and preceding fresh weakness. Slide below 1.5600/1.5572 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 and 1.5500 next. Only clear break above 1.5700, would delay immediate bears for 1.5740/1.5780, while more significant improvement requires regain of 1.5843/77 peaks.

Res: 1.5675, 1.5688, 1.5700, 1.5740
Sup: 1.5645, 1.5600, 1.5572, 1.5545

USD/JPY

Sharp reversal from yesterday’s high at 94.40 dipped below important 93.00, Fib 61.8% of 92.17/94.45 and weakened near-term structure. Dips were so far contained by 55 day EMA at 92.80, with quick reversal above 93.00, keeping the bullish stance. However, failure to regain 93.60, yesterday’s intraday high and 50% of 94.40/92.80 slide, would risk fresh weakness that may focus key near-term support at 92.00, loss of which would be bearish. From the other side, lift above 93.60 and regain of 94.40, to bring bulls fully in play for possible retest of strong 94.45/40 barrier.

Res: 93.44, 93.60, 93.85, 94.00
Sup: 93.00, 92.80, 92.44, 92.17

USD/CHF

The pair lost traction, after failure to clear 0.9200 breakpoint, as gains stalled at 0.9213, capped by daily Ichimoku cloud base. Subsequent reversal returned to near-term range floor at 0.9150 that so far contained dip, along with 55 day EMA. Negative hourly structure keeps the downside at risk, with 4h chart indicators losing momentum. Loss of 0.9150/40, recent range floor and Fib 38.2% of 0.9020/0.9213 would revive near-term bears for test of 0.9100, while lift above 0.9200, requires regain of 0.9247, 50% of 0.9387/0.9020, to improve.

Res: 0.9180, 0.9200, 0.9213, 0.9247
Sup: 0.9150, 0.9115, 0.9100, 0.9065

 

[WindsorBrokers]

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

EUR/USD

The Euro remains in two-day 1.3300/1.3400 range, with near-term structure showing bears still holding control. Studies on 4h chart are in the negative territory and descending 20 day EMA limits the upside. Basing attempt at 1.3300 is evident, as Friday’s Doji signals indecision, however, prevailing negative tone, keeps the downside pressured. With 1.3300 offering initial support, series of strong supports lie just below here, with trendline (1.2660/1.2996) at 1.3285 and 1.3265, January’s higher platform. Break here is required to confirm reversal and open way towards 1.3185/70 breakpoint. On the upside, break above 1.3400, would provide relief, while only regain of 1.3500 zone, 50% of 1.3710/1.3305 would shift near-term focus higher.

Res: 1.3357, 1.3374, 1.3392, 1.3411
Sup: 1.3324, 1.3305, 1.3285, 1.3265

GBP/USD

Cable remains under pressure, as price slides below 1.5500 again, following brief recovery to 1.5550, seen last Friday. Overnight’s gap-lower opening, along with negative near-term studies, keeps near-term focus at the downside, with break below Friday’s low at 1.5459, to open 1.5400 zone initially, for possible extension towards key supports at 1.5267/33, 2012 lows, seen as likely near-term scenario. Overextended 4h chart conditions, however, may delay bears, with corrective rallies seen capped at 1.5550/70 zone, Fib 38.2% / 50% of 1.5688/1.5459 descend. Only break above 1.5600, Fib 61.8%, would avert immediate downside risk and signal near-term basing attempt, confirmation of which requires regain of 1.5700 handle.

Res: 1.5497, 1.5550, 1.5571, 1.5600
Sup: 1.5459, 1.5392, 1.5320, 1.5267

USD/JPY

The pair regained strength, as near-term range floor and base at 92.00 zone, proved to be good support. Fresh rally and weekly gap-higher opening, along with break above psychological 94.00 barrier, see scope for retest of recent highs and near-term range top at 94.40/45, for resumption of broader uptrend towards the next target at 94.97, May 2010 high. Four-hour chart indicators emerged from the negative territory and see room for fresh bulls, however, gains may be delayed by overbought hourlies. Initial support lies at 93.80, 10 day EMA, ahead of session low at 93.64, where dips should be ideally contained, while only penetration of 93.20, Fib 61.8% of 92.21/94.21 and psychological 93.00 support, would sideline near-term bulls.

Res: 94.00, 94.21, 94.40, 94.45
Sup 93.83, 93.64, 93.45, 93.30

USD/CHF

The pair attempts higher to resume near-term recovery off 0.9020, after fresh strength breaks above last Thu/Fri consolidation top and Fib 61.8% of 0.9387/0.9020 descend. Next target lies at 0.9300, 76.4% retracement, above which to confirm base at 0.9020 and open next targets at 0.9381/87. With 4h 20 day EMA at 0.9220 holding the downside for now, any stronger reversal should stay above 0.9200 higher base, keep immediate bulls intact. Otherwise, break here would soften near-term tone and open 0.9150, 12/13 Feb lows.

Res: 0.9256, 0.9300, 0.9323, 0.9387
Sup: 0.9233, 0.9220, 0.9200, 0.9150

 

[WindsorBrokers]

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

EUR/USD

The Euro remains in two-day 1.3300/1.3400 range, with near-term structure showing bears still holding control. Studies on 4h chart are in the negative territory and descending 20 day EMA limits the upside. Basing attempt at 1.3300 is evident, as Friday’s Doji signals indecision, however, prevailing negative tone, keeps the downside pressured. With 1.3300 offering initial support, series of strong supports lie just below here, with trendline (1.2660/1.2996) at 1.3285 and 1.3265, January’s higher platform. Break here is required to confirm reversal and open way towards 1.3185/70 breakpoint. On the upside, break above 1.3400, would provide relief, while only regain of 1.3500 zone, 50% of 1.3710/1.3305 would shift near-term focus higher.

Res: 1.3357, 1.3374, 1.3392, 1.3411
Sup: 1.3324, 1.3305, 1.3285, 1.3265

GBP/USD

Cable remains under pressure, as price slides below 1.5500 again, following brief recovery to 1.5550, seen last Friday. Overnight’s gap-lower opening, along with negative near-term studies, keeps near-term focus at the downside, with break below Friday’s low at 1.5459, to open 1.5400 zone initially, for possible extension towards key supports at 1.5267/33, 2012 lows, seen as likely near-term scenario. Overextended 4h chart conditions, however, may delay bears, with corrective rallies seen capped at 1.5550/70 zone, Fib 38.2% / 50% of 1.5688/1.5459 descend. Only break above 1.5600, Fib 61.8%, would avert immediate downside risk and signal near-term basing attempt, confirmation of which requires regain of 1.5700 handle.

Res: 1.5497, 1.5550, 1.5571, 1.5600
Sup: 1.5459, 1.5392, 1.5320, 1.5267

USD/JPY

The pair regained strength, as near-term range floor and base at 92.00 zone, proved to be good support. Fresh rally and weekly gap-higher opening, along with break above psychological 94.00 barrier, see scope for retest of recent highs and near-term range top at 94.40/45, for resumption of broader uptrend towards the next target at 94.97, May 2010 high. Four-hour chart indicators emerged from the negative territory and see room for fresh bulls, however, gains may be delayed by overbought hourlies. Initial support lies at 93.80, 10 day EMA, ahead of session low at 93.64, where dips should be ideally contained, while only penetration of 93.20, Fib 61.8% of 92.21/94.21 and psychological 93.00 support, would sideline near-term bulls.

Res: 94.00, 94.21, 94.40, 94.45
Sup 93.83, 93.64, 93.45, 93.30

USD/CHF

The pair attempts higher to resume near-term recovery off 0.9020, after fresh strength breaks above last Thu/Fri consolidation top and Fib 61.8% of 0.9387/0.9020 descend. Next target lies at 0.9300, 76.4% retracement, above which to confirm base at 0.9020 and open next targets at 0.9381/87. With 4h 20 day EMA at 0.9220 holding the downside for now, any stronger reversal should stay above 0.9200 higher base, keep immediate bulls intact. Otherwise, break here would soften near-term tone and open 0.9150, 12/13 Feb lows.

Res: 0.9256, 0.9300, 0.9323, 0.9387
Sup: 0.9233, 0.9220, 0.9200, 0.9150

 

[WindsorBrokers]

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

EUR/USD

The near-term price action remains in a sideways mode, moving in a bearish pennant-shape consolidation. Yesterday’s spike higher failed to reach range top and initial barrier at 1.3400, keeping the upside limited by descending 20 day EMA, with negative structure on 4h chart, holding the downside at risk. However, near-term indecision is evident, as double Doji appears on a daily chart and while 1.3300/1.3275 base / trendline support hold the downside, further consolidation is not ruled out. Resumption of underlying bear-trend requires slide below the trendline and higher base at 1.3265, for extension towards main bull trendline, drawn off 1.2042 at 1.3220 and possible test of pivotal 1.3185/70, 50% of 1.2660/1.3710 / Sep 2012 peaks. On the upside, break above 1.3400, would ease bear-pressure, however, to revive bulls and shift focus higher, regain of 1.3500 barrier and 50% of 1.3710/1.3305 is required.


Res: 1.3355, 1.3365, 1.3378, 1.3392
Sup: 1.3335, 1.3320, 1.3305, 1.3275

GBP/USD

Cable continues to trend lower, with fresh low at 1.5437 being posted yesterday, as the price failed to fill weekly-opening gap. Negative near-term studies keep the downside favored, with initial targets lying at psychological 1.5400 and 1.5390, July 2012, as broader weakness off 1.6380 peak, keeps focus at key supports and larger range floor at 1.5267/33. Overextended 4h studies do not rule out consolidative / corrective action, with initial barrier at 1.5550, seen capping for now. Only lift above 1.5600/40, Fib 38.2% / 50% of 1.5843/1.5437 downleg, would spark stronger recovery.

Res: 1.5500, 1.5550, 1.5571, 1.5600
Sup: 1.5455, 1.5437, 1.5392, 1.5320

USD/JPY

The pair remains in a near-term 92.00/94.40 range, as yesterday’s rally, despite regaining 94.00 barrier, stalled on approach to range tops at 94.40/45. Loss of 94.00 handle, weakens the hourly structure that sees room for further retracement, as 38.2% of 92.21/94.21 upleg, has been reversed so far. Next targets lie at 93.21 and 92.97, 50%v / 61.8% retracement levels, while 94.00 offers initial resistance. However, holding within the range will keep the price directionless.

Res: 93.75, 94.00, 94.21, 94.40
Sup 93.21, 93.00, 92.68, 92.21

USD/CHF

No big changes seen in the near-term price action that stays in a consolidative 0.9200/50 range, as a part of steady recovery from 0.9020 base. Overall picture remains bullish in the near-term, with regain of the next barrier at 0.9300, also 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top, required to trigger stronger recovery towards key barriers and breakpoint at 0.9400 zone. Initial support at 0.9200 guards 0.9150/40, previous range floor / mid-point of recent recovery and only break here will bring bears back in play.

Res: 0.9241, 0.9256, 0.9300, 0.9323
Sup: 0.9221, 0.9200, 0.9150, 0.9140

 

[WindsorBrokers]

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

EUR/USD

The near-term price action remains in a sideways mode, moving in a bearish pennant-shape consolidation. Yesterday’s spike higher failed to reach range top and initial barrier at 1.3400, keeping the upside limited by descending 20 day EMA, with negative structure on 4h chart, holding the downside at risk. However, near-term indecision is evident, as double Doji appears on a daily chart and while 1.3300/1.3275 base / trendline support hold the downside, further consolidation is not ruled out. Resumption of underlying bear-trend requires slide below the trendline and higher base at 1.3265, for extension towards main bull trendline, drawn off 1.2042 at 1.3220 and possible test of pivotal 1.3185/70, 50% of 1.2660/1.3710 / Sep 2012 peaks. On the upside, break above 1.3400, would ease bear-pressure, however, to revive bulls and shift focus higher, regain of 1.3500 barrier and 50% of 1.3710/1.3305 is required.


Res: 1.3355, 1.3365, 1.3378, 1.3392
Sup: 1.3335, 1.3320, 1.3305, 1.3275

GBP/USD

Cable continues to trend lower, with fresh low at 1.5437 being posted yesterday, as the price failed to fill weekly-opening gap. Negative near-term studies keep the downside favored, with initial targets lying at psychological 1.5400 and 1.5390, July 2012, as broader weakness off 1.6380 peak, keeps focus at key supports and larger range floor at 1.5267/33. Overextended 4h studies do not rule out consolidative / corrective action, with initial barrier at 1.5550, seen capping for now. Only lift above 1.5600/40, Fib 38.2% / 50% of 1.5843/1.5437 downleg, would spark stronger recovery.

Res: 1.5500, 1.5550, 1.5571, 1.5600
Sup: 1.5455, 1.5437, 1.5392, 1.5320

USD/JPY

The pair remains in a near-term 92.00/94.40 range, as yesterday’s rally, despite regaining 94.00 barrier, stalled on approach to range tops at 94.40/45. Loss of 94.00 handle, weakens the hourly structure that sees room for further retracement, as 38.2% of 92.21/94.21 upleg, has been reversed so far. Next targets lie at 93.21 and 92.97, 50%v / 61.8% retracement levels, while 94.00 offers initial resistance. However, holding within the range will keep the price directionless.

Res: 93.75, 94.00, 94.21, 94.40
Sup 93.21, 93.00, 92.68, 92.21

USD/CHF

No big changes seen in the near-term price action that stays in a consolidative 0.9200/50 range, as a part of steady recovery from 0.9020 base. Overall picture remains bullish in the near-term, with regain of the next barrier at 0.9300, also 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top, required to trigger stronger recovery towards key barriers and breakpoint at 0.9400 zone. Initial support at 0.9200 guards 0.9150/40, previous range floor / mid-point of recent recovery and only break here will bring bears back in play.

Res: 0.9241, 0.9256, 0.9300, 0.9323
Sup: 0.9221, 0.9200, 0.9150, 0.9140

 

[WindsorBrokers]

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

EUR/USD

The single currency’s break above four-day 1.3300/1.3400 consolidation, averts downside risk and signals basing attempt at 1.3300. Initial barrier at 1.3440, Fib 61.8% of 1.3518/1.3305 / 4h Ichimoku cloud base, comes under pressure, with break here expected to open more significant resistance and pivotal point at 1.3500 zone, 50% of entire 1.3710/1.3305 descend at 1.3508 and 13 Feb lower high at 1.3518, above which to confirm near-term base and open way for stronger recovery. Improved 4h chart studies support the notion, with previous barrier at 1.3400, now offering initial support, reinforced by 55 day EMA. However, underlying bear-trend keeps risk of lower top and fresh weakness, as long as 1.3518 stays intact.

Res: 1.3437, 1.3468, 1.3508, 1.3518
Sup: 1.3400, 1.3381, 1.3354, 1.3327

GBP/USD

Near-term bears remain fully in play, as the pair continues to post fresh lows, with the latest seen at 1.5413, just ahead of our next target at 1.5400/1.5390 zone. Near-term focus remains at key supports at 1.5267/33, med-term range lows, with upside being protected at 1.5500/50 and only breaks here would signal pause in current descend, for some corrective action.

Res: 1.5460, 1.5500, 1.5550, 1.5571
Sup: 1.5413, 1.5400, 1.5392, 1.5320

USD/JPY

Near-term consolidative range remains intact, with neutrals tone seen on near-term studies, as the price holds around the mid-point of 92.00/94.45 range. From the other side, reversing daily studies may question bulls, with loss of 92.00 base, required to confirm and bring bears in play. Otherwise, bullish continuation above 94.45, would look for test of our near-term target at 94.97, May 2010 high.

Res: 93.80, 94.00, 94.21, 94.40
Sup: 93.13, 93.00, 92.68, 92.21

USD/CHF

Near-term bulls are losing traction after failure to sustain gains above recent range top at 0.9200. Subsequent slide below range floor and initial support at 0.9200 softens the near-term structure. As 4h chart indicators are attempting below the midlines, increased risk is seen towards pivotal 0.9150/40 support, loss of which will be bearish. Conversely, holding above the latter, would keep hopes of fresh rally in play, however, clear break above 0.9256 is required to confirm bullish resumption for test of psychological / 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top at 0.9300.

Res: 0.9229, 0.9256, 0.9300, 0.9323
Sup: 0.9182, 0.9150, 0.9140, 0.9100

 

[WindsorBrokers]

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

EUR/USD

The single currency’s break above four-day 1.3300/1.3400 consolidation, averts downside risk and signals basing attempt at 1.3300. Initial barrier at 1.3440, Fib 61.8% of 1.3518/1.3305 / 4h Ichimoku cloud base, comes under pressure, with break here expected to open more significant resistance and pivotal point at 1.3500 zone, 50% of entire 1.3710/1.3305 descend at 1.3508 and 13 Feb lower high at 1.3518, above which to confirm near-term base and open way for stronger recovery. Improved 4h chart studies support the notion, with previous barrier at 1.3400, now offering initial support, reinforced by 55 day EMA. However, underlying bear-trend keeps risk of lower top and fresh weakness, as long as 1.3518 stays intact.

Res: 1.3437, 1.3468, 1.3508, 1.3518
Sup: 1.3400, 1.3381, 1.3354, 1.3327

GBP/USD

Near-term bears remain fully in play, as the pair continues to post fresh lows, with the latest seen at 1.5413, just ahead of our next target at 1.5400/1.5390 zone. Near-term focus remains at key supports at 1.5267/33, med-term range lows, with upside being protected at 1.5500/50 and only breaks here would signal pause in current descend, for some corrective action.

Res: 1.5460, 1.5500, 1.5550, 1.5571
Sup: 1.5413, 1.5400, 1.5392, 1.5320

USD/JPY

Near-term consolidative range remains intact, with neutrals tone seen on near-term studies, as the price holds around the mid-point of 92.00/94.45 range. From the other side, reversing daily studies may question bulls, with loss of 92.00 base, required to confirm and bring bears in play. Otherwise, bullish continuation above 94.45, would look for test of our near-term target at 94.97, May 2010 high.

Res: 93.80, 94.00, 94.21, 94.40
Sup: 93.13, 93.00, 92.68, 92.21

USD/CHF

Near-term bulls are losing traction after failure to sustain gains above recent range top at 0.9200. Subsequent slide below range floor and initial support at 0.9200 softens the near-term structure. As 4h chart indicators are attempting below the midlines, increased risk is seen towards pivotal 0.9150/40 support, loss of which will be bearish. Conversely, holding above the latter, would keep hopes of fresh rally in play, however, clear break above 0.9256 is required to confirm bullish resumption for test of psychological / 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top at 0.9300.

Res: 0.9229, 0.9256, 0.9300, 0.9323
Sup: 0.9182, 0.9150, 0.9140, 0.9100