Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:20 GMT)

EUR/USD

Rally from 1.2522, 13 July higher low, peaked at 1.3006 on 17 July, ahead of correction. This has found support at 1.2868, and today’s fresh rally has dented 1.3006 barrier, with 1.3026 seen so far. Sustained break higher is needed to open 1.3073, 61.8% of 1.3816/1.1875 decline first, ahead of extension towards 1.3123, 38.2% of 1.5411/1.1875 fall. Below 1.2925 offers initial support, while break below 1.2868 delays bulls.

Res: 1.3026, 1.3073, 1.3095, 1.3123
Sup: 1.2925, 1.2868, 1.2835, 1.2800

GBP/USD

Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350 yesterday, extending losses to 1.5198 thus far. Correction from here needs to regain minimum 1.5350 to resume short-term bulls and keep retest of 1.5470 in focus. Otherwise, lower top and fresh weakness would target 1.5085, possibly 1.4947 on a break.

Res: 1.5350, 1.5396, 1.5445, 1.5470
Sup: 1.5198, 1.5187, 1.5148, 1.5085

USD/JPY

Extended decline from 89.14 lower top, with loss of 86.96, 01 July low, extending losses to 86.25 thus far. Correction off here is now underway, with break above 87.35/58 required to delay bears. Below, loss of 86.25 to resume the near-term downtrend and target 85.85, possibly 84.80, 2009 low.

Res: 87.21, 87.35, 87.58, 88.00
Sup: 86.47, 86.25, 86.15, 85.85

USD/CHF

Extends corrective gains off a double bottom at 1.0399/1.0401, with scope for rise towards 1.0617 next. However, only a lift above 1.0675/95 will signal medium-term base, otherwise risks remains for break below 1.0399 to target 1.0366/00 territory.

Res: 1.0560, 1.0583, 1.0617, 1.0645
Sup: 1.0480, 1.0445, 1.0421, 1.0399

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:20 GMT)

EUR/USD

Rally from 1.2522, 13 July higher low, peaked at 1.3006 on 17 July, ahead of correction. This has found support at 1.2868, and today’s fresh rally has dented 1.3006 barrier, with 1.3026 seen so far. Correction lower followed, with higher low required between 1.2835/1.2776, ahead of fresh strength. Above 1.3026 to open 1.3073, 61.8% of 1.3816/1.1875 decline first, then 1.3123, 38.2% of 1.5411/1.1875 fall.

Res: 1.3026, 1.3073, 1.3095, 1.3123
Sup: 1.2835, 1.2802, 1.2776, 1.2715

GBP/USD

Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350 yesterday, extending losses to 1.5152, just above 1.5148, 61.8% retracement of 1.4947/1.5470 ascend. Break here to trigger further weakness for possible full retracement. Upside, regain of 1.5308 is needed to ease bear pressure.

Res: 1.5308, 1.5350, 1.5396, 1.5445
Sup: 1.5148, 1.5085, 1.5067, 1.5046

USD/JPY

Extended decline from 89.14 lower top, with loss of 86.96, 01 July low, extending losses to 86.25 thus far. Correction off here is now underway, with break above 87.35/58 required to delay bears. Below, loss of 86.25 to resume the near-term downtrend and target 85.85, possibly 84.80, 2009 low.

Res: 87.21, 87.35, 87.58, 88.00
Sup: 86.47, 86.25, 86.15, 85.85

USD/CHF

Extends corrective gains off a double bottom at 1.0399/1.0401, with scope for rise towards 1.0617 next. However, only a lift above 1.0675/95 will signal medium-term base, otherwise risks remains for break below 1.0399 to target 1.0366/00 territory.

Res: 1.0560, 1.0583, 1.0617, 1.0645
Sup: 1.0480, 1.0445, 1.0421, 1.0399

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Corrective reversal of yesterday’s 1.3026 high has so far tested 1.2835, 38.2 % retracement of 1.2522/1.3026 ascend, ahead of bounce. A higher low is required to resume rally, and above 1.3026 to target 1.3073, 61.8% of 1.3816/1.1875 decline first, then 1.3123, 38.2% of 1.5411/1.1875 fall. 1.2835 now offers initial support, with possible extension towards 1.2802/1.2776, though, loss of the latter to sideline immediate bulls.

Res: 1.2924, 1.2966, 1.3026, 1.3073
Sup: 1.2869, 1.2835, 1.2802, 1.2776

GBP/USD

Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350, extending losses to 1.5152, just above 1.5148, 61.8% retracement of 1.4947/1.5470 ascend. Correction higher has followed, reaching 1.5335, over 50% of 1.5470/1.5152 decline, with higher low sought below 1.5350, 61.8%, before fresh weakness to target 1.5152. Above 1.5350 would attract 1.5470 instead.

Res: 1.5350, 1.5396, 1.5445, 1.5470
Sup: 1.5179, 1.5152, 1.5085, 1.5067

USD/JPY

Succession of higher lows off 86.25, 16 July low, sees an attempt to extend recovery, with break above 87.58 now required. However, the latest sharp reversal now threats recovery and possible break below 86.62 to re-focus 86.25, break of which will expose 85.85/84.80.

Res: 87.58, 87.84, 88.00, 88.26
Sup: 86.62, 86.47, 86.25, 86.15

USD/CHF

Minor ranging takes hold above 1.0445, 19 July higher low, setting state for next push through 1.0560, towards 1.0617 and key barriers at 1.0675/95. A reversal below 1.0445, however, resumes near-term decline and opens 1.0366 first, then 1.0344/00.

Res: 1.0560, 1.0583, 1.0617, 1.0645
Sup: 1.0451, 1.0445, 1.0421, 1.0399

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD

Extends reversal off 1.3026 high, breaking through 1.2835/02 support zone, to focus 1.2776, 14 July high/50% retracement of 1.2522/1.3026 upleg. Break here confirms top at 1.3026 and exposes 1.2715, 61.8% level next, with full retracement of the entire rally not ruled out.

Res: 1.2838, 1.2869, 1.2924, 1.2966
Sup: 1.2776, 1.2715, 1.2681, 1.2613

GBP/USD

Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350, extending losses to 1.5152, just above 1.5148, 61.8% retracement of 1.4947/1.5470 ascend. Correction higher has followed, reaching 1.5335, over 50% of 1.5470/1.5152 decline, with higher low sought below 1.5350, 61.8%, before fresh weakness to target 1.5152. Above 1.5350 would attract 1.5470 instead.

Res: 1.5335, 1.5350, 1.5396, 1.5445
Sup: 1.5179, 1.5152, 1.5085, 1.5067

USD/JPY

Succession of higher lows off 86.25, 16 July low, sees an attempt to extend recovery, with break above 87.58 now required. However, the latest sharp reversal now threats recovery and possible break below 86.62 to re-focus 86.25, break of which will expose 85.85/84.80.

Res: 87.58, 87.84, 88.00, 88.26
Sup: 86.62, 86.47, 86.25, 86.15

USD/CHF

Minor ranging takes hold above 1.0445, 19 July higher low, setting state for next push through 1.0560, towards 1.0617 and key barriers at 1.0675/95. A reversal below 1.0445, however, resumes near-term decline and opens 1.0366 first, then 1.0344/00.


Res: 1.0560, 1.0583, 1.0617, 1.0645
Sup: 1.0483, 1.0451, 1.0445, 1.0421

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:40 GMT)

EUR/USD

Further corrects the upleg off 1.2522, 13 July higher low to 1.3026, 20 July high. Market has so far retraced over 50%, reaching 1.2731 low late yesterday. Next target stands at 1.2715, 61.8% and 1.2681, 14 July low, where possible higher low is sought. However, upside regain of 1.2920/30 is needed to return to strength, while loss of 1.2681 risks retest of 1.2522.

Res: 1.2838, 1.2869, 1.2924, 1.2966
Sup: 1.2731, 1.2715, 1.2681, 1.2613

GBP/USD
Maintains negative near-term structure, off 1.5470, 15 July high, as the market already retraced over 61.8% of 1.4947/1.5470 upleg, reaching 1.5123 so far. This may signal a potential return to weakness, with loss of 1.4947 required to confirm. Upside attempt are for now capped by 1.5350 and only break here to pivot market higher.

Res: 1.5240, 1.5257, 1.5335, 1.5350
Sup: 1.5125, 1.5085, 1.5067, 1.5046

USD/JPY

Recovery attempt off 86.25 failed at 87.56, ahead of fresh weakness. Break below 86.85/47 support zone now focuses 86.25, break of which to expose 85.85 first, ahead of possible retest of key 84.80, 2009 low. Above, regain of 87.35/56 is needed to return to strength.

Res: 86.85, 87.35, 87.58, 87.84
Sup: 86.25, 86.15, 86.00, 85.85

USD/CHF

Is breaking lower from the recent bear flag to signal the next leg lower, to test 1.0400, and below here to open 1.0366, with studies confirming the negative structure. Upside, 1.0545/60 zone is expected to cap, and only break above the latter to trigger fresh strength.

Res: 1.0545, 1.0560, 1.0583, 1.0617
Sup: 1.0399, 1.0366, 1.0344, 1.0317

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15 GMT)

EUR/USD
Correction off 1.3026 reached 1.2731 on 21 July, ahead of fresh push higher. Initial resistance at 1.2921 has been dented, with 1.2928 seen so far. Sustained break here is required to confirm higher low and expose 1.3026, ahead of possible extension to 1.3073/1.3125 on a break. Upside rejection at 1.2928, however, risks 1.2776, trendline support first, then 1.2731.

Res: 1.2899, 1.2928, 1.2989, 1.3026
Sup: 1.2838, 1.2817, 1.2776, 1.2731

GBP/USD

Price action off 1.5123, 21 July higher low, suggests further upside extension after market broke above 1.5295, yesterday’s high. Immediate resistance stands at 1.5335,/50, with break here to open way for retest of 1.5470 and then 1.5524, 15 Apr high. Failure under 1.5350 risks fresh weakness towards 1.5123 initially.

Res: 1.5335, 1.5350, 1.5396, 1.5445
Sup: 1.5232, 1.5196, 1.5172, 1.5123

USD/JPY

Recovery attempt off 86.25 failed at 87.56, ahead of reversal to 86.33 yesterday. A negative consolidation above 86.33/25 will precede fresh weakness, and below 86.25 to target 85.85/84.80. Only reclaim of 87.58 improves the outlook.

Res: 87.22, 87.35, 87.58, 87.84
Sup: 86.72, 86.58, 86.33, 86.25

USD/CHF

Yesterday’s break lower from the recent bear flag signals the next leg lower, briefly breaking below 1.0400, to reach 1.0393 so far. 1.0366 is seen next, with studies confirming the negative structure. Upside, 1.0462/836 area caps for now.

Res: 1.0462, 1.0483, 1.0516, 1.0545
Sup: 1.0393, 1.0366, 1.0344, 1.0317

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15 GMT)

EUR/USD

Maintains positive tone off 1.2731, 21 July higher low, as the dip from 1.2965, last Friday’s low, found support at 1.2792, just above trendline drawn off 1.2522. Break above 1.2965 is now required to confirm the uptrend and open 1.3026 next. Above here to focus 1.3125, 38.2% of 1.5144/1.1875. Only loss of 1.3731 higher platform to weaken the structure and turn focus towards 1.2522.

Res: 1.2965, 1.2989, 1.3026, 1.3073
Sup: 1.2859, 1.2834, 1.2807, 1.2776

GBP/USD

Continues to trend higher, following bounce off 1.5123, last week’s higher low and today’s lift above 1.5470, 15 July previous high. Market now focuses 1.5526, 15 Apr high and 1.5575, 23 Feb high, while 1.5345, last Friday’s intraday low, underpins the advance.

Res: 1.5526, 1.5575, 1.5635, 1.5665
Sup: 1.5375, 1.5345, 1.5335, 1.5297

USD/JPY

Congestive lows at 86.25/33, posted on 16/22 July, marked a tentative short-term base that has supported recovery through 87.58, 20 July previous high, to reach 87.71, 50% of the 89.14/86.25 decline, so far. A lower top is sought for fresh weakness to retest the 86.33/25 zone, while only sustained break above 88 area would improve the structure.

Res: 87.71, 87.84, 88.00, 88.26
Sup: 86.72, 86.58, 86.33, 86.25

USD/CHF

Is trading within 1.0393/1.0560 range, following recent weakness from 1.1730, 2010 high, posted on 01 June. Slight loss of momentum at upper short-term range now warns of a possible relapse back to 1.0400/1.0393 zone. Regain of 1.0562, however, would firm the tone.

Res: 1.0562, 1.0583, 1.0617, 1.0645
Sup: 1.0475, 1.0462, 1.0393, 1.0366

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:45 GMT)

EUR/USD

Maintains positive tone off 1.2731, 21 July higher low, with yesterday’s break through 1.2965 barrier, now attempting at key near-term resistance at 1.3026. Break here is required to resume gains towards 1.3073 and 1.3125, 38.2% of 1.5144/1.1875 decline. Immediate support stands at 1.2888/59.

Res: 1.3026, 1.3073, 1.3095, 1.3125
Sup: 1.2980, 1.2888, 1.2859, 1.2834

GBP/USD

Continues to trend higher, following bounce off 1.5123, last week’s higher low and clearance 1.5470, 15 July previous high, to attempt at 1.5526 today. Break here to focus 1.5575, 23 Feb high and 1.5635, 50% retracement of 1.7044/1.4230 decline. Below, loss of 1.5345/35 support zone to weaken the outlook.

Res: 1.5529, 1.5575, 1.5635, 1.5665
Sup: 1.5449, 1.5375, 1.5345, 1.5335

USD/JPY

Congestive lows at 86.25/33, posted on 16/22 July, marked a tentative short-term base that has supported recovery through 87.58, 20 July previous high, to reach 87.71, 50% of the 89.14/86.25 decline, so far. Immediate reversal has so far found support at 86.80, with risk seen on a break under 86.80/72 to expose 86.33/25. Above 87.71 resumes recovery.

Res: 87.38, 87.71, 87.84, 88.00
Sup: 86.80, 86.72, 86.58, 86.33

USD/CHF

Is trading within 1.0393/1.0562 range, following recent weakness from 1.1730, 2010 high, posted on 01 June. Loss of momentum at upper short-term range has seen a drop to 1.0458 yesterday, ahead of fresh strength. Break through the upper boundary at 1.0562 is now required to resume recovery attempt towards 1.0617/45 next.

Res: 1.0562, 1.0583, 1.0617, 1.0645
Sup: 1.0480, 1.0458, 1.0406, 1.0393

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:15 GMT)

EUR/USD

Maintains positive tone off 1.2731, 21 July higher low, as clearance of 1.2965 confirms a trend continuation. Today’s break through 1.3026, with 1.3044 seen so far, now opens way for test of 1.3073/93 and 1.3125. Corrective pullback should be contained by 1.2888/59 to keep immediate bulls in play.

Res: 1.3044, 1.3073, 1.3093, 1.3125
Sup: 1.2961, 1.2888, 1.2859, 1.2834

GBP/USD

Continues to trend higher, following bounce off 1.5123, last week’s higher low and clearance 1.5470, 15 July previous high. Today’s lift above 1.5526 has so far tested 1.5561/75, 200 days moving average / 23 Feb high, with sustained break here required to open 1.5635, 50% retracement of 1.7044/1.4230 decline, next. Initial support stands at 1.5440, while loss of 1.5345 delays.

Res: 1.5575, 1.5635, 1.5665, 1.5688
Sup: 1.5440, 1.5375, 1.5345, 1.5335

USD/JPY

Recovery attempt off 86.25/33 stalled at 87.71 yesterday, ahead of reversal to 86.80, where the fresh strength emerged. Today’s price action has seen renewed attempt at 87.71, with break here needed to resume recovery. Otherwise, failure at 87.71 may mark a double top for fresh weakness towards 86.33/25.

Res: 87.38, 87.71, 87.84, 88.00
Sup: 86.80, 86.72, 86.58, 86.33

USD/CHF

Confirmed a minor double bottom at 1.0393, 22 Jul low, with today's strength through 1.0562, currently breaking above 1.0617 resistance. Bulls seek 1.0632, 200 days MA, ahead of the 1.0676 pivot. Only loss of 1.0480/58 would defer for a 1.0394 retest.

Res: 1.0632, 1.0645, 1.0676, 1.0697
Sup: 1.0538, 1.0500, 1.0480, 1.0458

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15 GMT)

EUR/USD

Near-term structure remains positive, with bull flag completed on Monday projecting further strength. Clearance of yesterday’s high at 1.3044 will extend gains toward 1.3125, 38.2% retracement of 1.5144/1.1875 decline. Immediate support now stands at 1.2965/51 zone.

Res: 1.3044, 1.3073, 1.3093, 1.3125
Sup: 1.2965, 1.2951, 1.2925, 1.2888

GBP/USD

Continues to trend higher, with lift above 1.5576, previous high, now approaching 1.5635, 50% retracement of 1.7041/1.4230 decline. Break of which will expose 1.5688, 18 Feb high, next. Key support at 1.5440 is expected to hold dips to keep immediate bulls in play.

Res: 1.5635, 1.5665, 1.5688, 1.5708
Sup: 1.5440, 1.5375, 1.5345, 1.5335

USD/JPY

Correction off 87.96, yesterday’s high, has found support at 87.64, ahead of fresh strength. The latest break above 88.03, 61.8% retracement of 89.14/86.25 downleg, as well as break above 5-wwek falling trendline, now opens way towards 88.50/80 next. Only reversal under 87.25 would delay.

Res: 87.38, 87.71, 87.84, 88.00
Sup: 87.64, 87.42, 87.25, 86.80

USD/CHF

Fresh strength off 1.0458 higher low, has broken above the recent 1.0393/1.0565 range, extending gains above 1.0600, to reach 1.0638 so far. Break here is required to resume bulls and focus 1.0675/95 area next. 1.0458 remains key support.


Res: 1.0645, 1.0675, 1.0695, 1.0750
Sup: 1.0562, 1.0538, 1.0500, 1.0480

 

[WindsorBrokers]

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

EUR/USD

The recent upside failure at 1.3044 has seen a narrow consolidation, ahead of today’s renewed attempt higher. Break above the later is required to resume gains, with 1.3073/93 seen next, ahead of 1.3125 Fibonacci level. Immediate support stands at 1.2965/51 zone.

Res: 1.3044, 1.3073, 1.3093, 1.3125
Sup: 1.2965, 1.2951, 1.2925, 1.2888

GBP/USD

The latest strength retraced 50% of 1.7041/1.4230 descend at 1.5637 yesterday, with consolidation just below here followed. Fresh push higher is now underway, with clear break above 1.5637 to focus 1.5688, 18 Feb high, next. Below, 1.5544 offers initial support, while 1.5440 remains key support and possible break under here to weaken the structure and allow deeper corrective pullback.

Res: 1.5665, 1.5688, 1.5708, 1.5735
Sup: 1.5544, 1.5505, 1.5476, 1.5440

USD/JPY

The latest upleg off 86.82 higher low stalled at 88.10 yesterday, ahead of reversal. This has so far reached 87.09, retracing over 50% of the entire upleg off 86.25, increasing risk of lower top and possible fresh weakness towards 86.33/25, key support zone. Otherwise, regain of 88.10 would revive bulls and resume recovery.

Res: 87.50, 87.71, 88.10, 88.26
Sup: 87.09, 86.82, 86.72, 86.58

USD/CHF

Upside rejection at 1.0638, 200 days M.A on 27 July has triggered a reversal to 1.0515 so far. To maintain immediate bulls, higher low above 1.0480 is now required. Above 1.0638/45 will open 1.0675/95 barriers, with break here required to resume recovery. Loss of 1.0480/58, however, would attract key 1.0406/1.0393 support zone.

Res: 1.0593, 1.0638, 1.0645, 1.0675
Sup: 1.0515, 1.0480, 1.0458, 1.0406

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Yesterday’s break above 1.3045, previous high, has cleared 1.3073/93 barriers, to hit 1.3105, en-route to 1.3125 target. Potential break here would look for an extension above 1.3200. Below, 1.2965/51 is a key, and below here to weaken the structure.

Res: 1.3105, 1.3125, 1.3200, 1.3214
Sup: 1.3025, 1.3005, 1.2965, 1.2951

GBP/USD

Has retraced over 50% of 1.7041/1.4230 descend, to reach 1.5661, just ahead of 1.5688, 18 Feb high. Potential break higher to open 1.5816 17 Feb high, near term. Below, 1.5544 offers initial support and below here may trigger deeper correction. 1.5440 still key.

Res: 1.5661, 1.5688, 1.5708, 1.5735
Sup: 1.5570, 1.5544, 1.5505, 1.5476

USD/JPY

Upside rejection at 88.10 and break below 86.80 has confirmed a lower top, with the latest break through key near-term support area at 86.33/25, marking a fresh phase lower. First target stands at 85.86, 30 Nov 09 low, ahead of 84.80, key medium-term support. Upside, 86.97 is expected to cap.

Res: 86.97, 87.17, 87.50, 87.71
Sup: 86.15, 85.86, 84.80, 84.00

USD/CHF

Upside rejection at 1.0638, 200 days M.A on 27 July, just below 1.0645 resistance has triggered a sharp reversal to fully retrace the recent 1.0393/1.0638 recovery attempt. Today’s loss of 1.0393 support has also breached 1.0366, 25 Jan low, targeting now 1.0317/1.0250. Immediate resistance stands at 1.0430.

Res: 1.0430, 1.0458, 1.0480, 1.0536
Sup: 1.0360, 1.0317, 1.0250, 1.0224

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Completes the inverted head and shoulders formation at 1.3093 on a daily chart. Further strength towards 1.3125, 38.2% of 1.5144/1.1875 decline is now favored, with potential break here to trigger fresh upside. Corrective pullbacks should be contained by 1.2965/51, key support, to keep bulls in play, otherwise, loss here will signal a return to weakness.

Res: 1.3093, 1.3105, 1.3125, 1.3200
Sup: 1.3025, 1.3005, 1.2979, 1.2965

GBP/USD

Break above 50% of 1.7041/1.4230 descend, and clearance of 1.5688, 18 Feb high, now focuses 1.5814/50, 17 Feb high/01 Feb low. However, hourly studies are entering overbought zone, suggesting correction. 1.5550 remains key near-term support and only loss here to weaken the structure.

Res: 1.5814, 1.5835, 1.5850, 1.5886
Sup: 1.5679, 1.5661, 1.5570, 1.5550

USD/JPY

Posted a fresh year to day low at 85.93 last Friday, ahead of bounce. Gains reached 86.81 today, above 38.2% retracement of 88.10.85.93 downleg, just ahead of 86.97/87.17, break of which is needed to resume the latest strength. Failure to break here, however, would signal a lower top and open fresh weakness.

Res: 86.97, 87.17, 87.50, 87.71
Sup: 86.26, 85.93, 85.86, 84.80

USD/CHF

Today's trade has seen a swift downside rejection potentially completing a down phase from 1.0638. The latest break above last Friday’s high at 1.0464, now firms for test of 1.0536. Downside, 1.0360 offers key support.

Res: 1.0480, 1.0536, 1.0578, 1.0638
Sup: 1.0391, 1.0360, 1.0317, 1.0250

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:40 GMT)

EUR/USD

Has met the target of the daily inverted head and shoulders formation near 1.3100, close to the 38.2% retrace of the 1.5144/1.1875 fall. Short-term strength remains favored. Below 1.2965 warns of return to weakness.

Res: 1.3200, 1.3250, 1.3325, 1.3365
Sup: 1.3050, 1.3025, 1.3005, 1.2979

GBP/USD

Rises to probe the resistance of a rising daily channel and in doing so has crossed the 50% retrace of the 1.7044/1.4230 fall, at 1.5636. Possible exhaustion pattern is forming in an hourly time frame.

Res: 1.5886, 1.5921, 1.5940, 1.5972
Sup: 1.5730, 1.5695, 1.5661, 1.5570

USD/JPY

Posted a new yearly low last Friday, before consolidating. It would take gains above 86.99/87.11 to suggest a swing low is in place to complete a down phase from the 88.12 high, possibly the larger structure from 92.89, 04 July high.

Res: 86.97, 87.17, 87.50, 87.71
Sup: 86.26, 85.93, 85.86, 84.80

USD/CHF

Today's trade has seen a swift downside rejection potentially completing a down phase from 1.0638. The latest break above last Friday’s high at 1.0464, now firms for test of 1.0536. Downside, 1.0360 offers key support.

Res: 1.0480, 1.0536, 1.0578, 1.0638
Sup: 1.0360, 1.0317, 1.0250, 1.0231

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Has met and exceeded the 38.2% retracement of the 1.5144/1.1875 fall at 1.3125. Break above the resistance of a rising daily wedge warns of a pullback. However, while holding above 1.3090, bulls remain favored.

Res: 1.3265, 1.3325, 1.3365, 1.3417
Sup: 1.3140, 1.3105, 1.3090, 1.3050

GBP/USD

Persistent strength looks set to target the 61.8% retracement of the 1.7041/1.4230 fall at 1.5968. Failure to meet resistance near 1.5968 opens up 1.6070, 03 Feb high, next. However, overbought hourly conditions warn of a pullback.

Res: 1.5968, 1.6010, 1.6027, 1.6070
Sup: 1.5865, 1.5829, 1.5805, 1.5780

USD/JPY

Today’s break under 86.20 negates the series of rising lows seen from last Friday's 85.95 rejection low. With fresh annual lows now being printed, this opens up the equality projection at 82.30.

Res: 86.70, 86.89, 86.97, 87.17
Sup: 85.86, 84.80, 84.00, 83.51

USD/CHF

A possible diamond formation is developing in an hourly timeframe warning of a possible basing formation. However, a break under the trend-line from yesterday's low at 1.0314, currently at 1.0365, may negate this pattern.

Res: 1.0458, 1.0480, 1.0536, 1.0578
Sup: 1.0344, 1.0317, 1.0293, 1.0231

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:40 GMT)

EUR/USD

Has met and exceeded the 38.2% retrace of the 1.5141-1.1876 fall at 1.3125. Break above the resistance of a rising daily wedge warns of a pullback. However, while over 1.3146, bulls favored short-term.

Res: 1.3265, 1.3325, 1.3365, 1.3417
Sup: 1.3140, 1.3105, 1.3090, 1.3050

GBP/USD

Persistent strength looks set to target the 61.8% retrace of the 1.7044-1.4228 fall at 1.5968. Failure to meet resistance near 1.5968 opens up 1.6070 (03 Feb high). Overbought conditions warn of a pullback..

Res: 1.5968, 1.6010, 1.6027, 1.6070
Sup: 1.5865, 1.5829, 1.5805, 1.5780

USD/JPY

Today's break under 86.20 negates the series of rising lows seen from last Friday's 85.95 rejection low. With fresh annual lows now being printed, this opens up the equality projection at 82.30.

Res: 86.70, 86.89, 86.97, 87.17
Sup: 84.00, 83.51, 83.00, 82.30

USD/CHF

Bears continue to pressure the 76.4% retracement level at 1.0344. A breakdown there would expose 1.0314 ahead of the 1.0239 prior high (near 1.236x 1.0676/1.0394 fr 1.0640). Above 1.0477 would neutralize declines.

Res: 1.0458, 1.0480, 1.0536, 1.0578
Sup: 1.0344, 1.0317, 1.0293, 1.0231

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (06.10 GMT)

EUR/USD

Four hourly structure reveals a rising chnnl which had it's resistance breached yesterday, warning of a potential false break higher and the initiation of a corrective phase. While over 1.3146 s-term bulls may persist.

Res: 1.3265, 1.3300, 1.3365, 1.3417
Sup: 1.3140, 1.3105, 1.3090, 1.3050

GBP/USD

A re-test of the recent high at 1.5968 remains viable. However, overbought conditions warn of an imminent corrective phase. A push back under 1.5695 may end the current bullish phase.

Res: 1.5968, 1.6010, 1.6027, 1.6070
Sup: 1.5865, 1.5829, 1.5805, 1.5780

USD/JPY

Continues to print fresh annual lows with scope for an eventual return to 79.75 upon a break under last years low at 84.82. This would also constitute a break under monthly trend-line support off 79.75.

Res: 85.67, 86.12, 86.65, 86.89
Sup: 84.00, 83.51, 83.00, 82.30

USD/CHF

Recent hourly consolidation featuring both higher highs and lower lows hints at a possible diamond formation implying possible basing. Regaining 1.0477 high will relieve and avert extension to 1.0344/00.

Res: 1.0458, 1.0480, 1.0536, 1.0578
Sup: 1.0344, 1.0317, 1.0293, 1.0231

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (06:50 GMT)

EUR/USD

Yesterday's break out of a four hourly rising channel that failed to hold now warns of a false break higher and the initiation of a corrective phase. Risk of a pullback to Monday's 1.3054 weekly low (nr 38.2% of 1.2732 upleg).

Res: 1.3183, 1.3242, 1.3262, 1.3300
Sup: 1.3090, 1.3054, 1.3027, 1.3002

GBP/USD

Although a re-test of the recent 1.5968 high remains possible, over-bought conditions warn of a relapse, with the formation of an hourly head and shoulders top (triggered under yesterday's low at 1.5857).

Res: 1.5913, 1.5945 1.5968, 1.6010,
Sup: 1.5829, 1.5805, 1.5780, 1.5723

USD/JPY

Wed's piercing candle pattern marks key reversal day with scope for recovery at 86.72 (50% of 88.12/85.32 fall) and weekly high of 86.89. Dips seek a swing high towards previous hourly lower high at 85.91.

Res: 86.46, 86.65, 86.89, 87.17
Sup: 85.00, 85.32, 85.56, 85.70

USD/CHF

The hourly diamond type formation seen over recent sessions has acted as a reasonable short term base, fueling a recovery rally above the 1.0477 lower top. Scope is set at 1.0640, 200-day MA and key 1.0676/97 resistance band.

Res: 1.0536, 1.0565, 1.0578. 1.0623
Sup: 1.0477, 1.0413, 1.0381, 1.0348

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (06:10 GMT)

EUR/USD

Short-term remains rangebound with initial signs of exhaustion following the earlier breaj out of a four hour rising channel. Regaining 1.3236/40 will hint at renewed strength. Below 1.3119 signals a pullback to 1.3054/1.2980.

Res: 1.3242, 1.3262, 1.3300, 1.3365
Sup: 1.3107, 1.3090, 1.3054, 1.3027

GBP/USD

Yesterday's failure to follow through on an hourly head and shoulders top has turned the outlook short-term bullish with scope for a re-test of the recent high at 1.5968. Blw 1.5820 defers. Region remains good for l-term shorts.

Res: 1.5925, 1.5945 1.5968, 1.6010,
Sup: 1.5820, 1.5780, 1.5761, 1.5723

USD/JPY

A further leg higher is anticipated in a potential corrective cycle off the recent annual low at 85.32. A possible higher low is in place at yesterday's 85.71 for a return to 86.46 initially. Below 85.71 defers.

Res: 86.23, 86.35, 86.46, 86.89
Sup: 85.00, 85.32, 85.56, 85.70

USD/CHF

Wednesday's push over 1.0477 suggests a short term base may be in place. While over 1.0413 a continuation of the near-term recovery is favoured towards 1.0580 before a possible lower high may form.

Res: 1.0519, 1.0555, 1.0565. 1.0580
Sup: 1.0413, 1.0390, 1.0381, 1.0348

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (10:50 GMT)

EUR/USD
Channeling structure continues with scope set towards 1.3365/1.3417. Near-term 1.3523 (20 Apr, nr 200-day MA) hinted. Below 1.3119 will break rising channel support, opening up a corrective phase.

Res: 1.3340, 1.3365, 1.3390, 1.3425
Sup: 1.3240, 1.3160, 1.3120, 1.3055

GBP/USD
Short-term structure has broken over the 1.5968 level (61.8% of 1.7044/1.4228 fall) and now probes the 1.6000 region where a breakout would favor 1.6070 next. The current region may act as a reasonable entry for med-term shorts.

Res: 1.6010, 1.6040, 1.6070, 1.6120
Sup: 1.5865, 1.5820, 1.5780, 1.5760

USD/JPY
Weakness last week saw a test of multi-month trend-line support off the key long-term low at 79.75. A break under the 2009 low at 84.82 is expected over coming sessions to trigger a return to 79.75, medium-term.

Res: 86.00, 86.25, 86.45, 86.70
Sup: 85.00, 84.80, 84.00, 83.50

USD/CHF
A daily falling channel dominates with resistance through highs at 1.0676/1.0640. A re-test of channel support, currently at 1.0325 is expected where a break lower may occur for a re-test of 1.0231.

Res: 1.0450, 1.0480, 1.0515, 1.0555
Sup: 1.0335, 1.0310, 1.0290, 1.0230