Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 2
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Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Daily structure exposes a potential bear flag developing, with a push under 1.3383, 31 Mar pivot low, increasing the probability of a return to 1.3266, 25 Mar annual low. In the meantime a short-term swing higher is not ruled out.
Res: 1.3459, 1.3496, 1.3537, 1.3591
Sup: 1.3383, 1.3344, 1.3324, 1.3305
GBP/USD
The second attempt at 1.5315, 23.6% retracement of the entire 1.7041/1.4780 fall failed, ahead of fresh push lower. Weekly structure since 1.7041 favors a shallow retrace and a resumption of weakness. 1.5380 is seen key resistance and only break here would improve the outlook.
Res: 1.5244, 1.5262, 1.5315, 1.5380
Sup: 1.5165, 1.5117, 1.5088, 1.5042
USD/JPY
Daily structure since the annual low at 88.13 hints at possible exhaustion of the current rise. Potential is seen for a pullback now towards the 200 day MA, currently at 91.46. Bulls remain in play while 93.55 holds.
Res: 94.77, 95.02, 95.30, 95.50
Sup: 93.55, 93.27, 93.05, 92.75
USD/CHF
Daily structure reveals a possible bull flag forming from the low at 1.0130, 11 Jan low. A break back over 1.0749 will further strengthen outlook, and likely trigger a return to 1.0897, annual high, posted on 19 Feb. However, near-term weakness, preceding fresh bulls, is not ruled out.
Res: 1.0688, 1.0705, 1.0749, 1.0795
Sup: 1.0585, 1.0553, 1.0535, 1.0487
Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Hourly structure continues to be negative with yesterday's break below 1.3390/83, 61.8% retracement of the 1.3266/1.3591 rise / 31 Mar low, warning of a full retrace of the move. Scope is now for a short-term swing higher, before leaving a lower top.
Res: 1.3438, 1.3459, 1.3496, 1.3537
Sup: 1.3355, 1.3344, 1.3305, 1.3266
GBP/USD
Continues to trade close to the 23.6% retracement of the 1.7041/1.4780 fall at 1.5315. Weekly structure continues to favor a shallow retrace and eventual relapse to retest 1.4780, the annual low.
Res: 1.5282, 1.5315, 1.5330, 1.5380
Sup: 1.5192, 1.5128, 1.5117, 1.5042
USD/JPY
Daily structure since the annual low at 88.13 hints at possible exhaustion of the current rise. Potential is seen for a pullback now towards the 200 day MA, currently at 91.46. Bulls remain in play while 93.55 holds, with potential break here to open 93.27 and 92.75. Only regain of 94.39 would suggest renewed strength.
Res: 94.39, 94.77, 95.02, 95.30
Sup: 93.55, 93.27, 93.05, 92.75
USD/CHF
Continues to head higher off recent lower rejection of 200-day MA, with scope set at 1.0779, break of which will trigger a larger daily bull flag with an initial target at 1.0899, annual high, posted on 19 Feb).
Res: 1.0720, 1.0749, 1.0795, 1.0810
Sup: 1.0643, 1.0585, 1.0553, 1.0487
Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Continues to trend lower, with risk seen for further drop to fully retrace the 1.3266/1.3591 upleg. Break below 1.3266, yearly low, would open 1.3190, 30 Apr 2009 low next, while 1.3409 expected to cap corrective attempts.
Res: 1.3377, 1.3409, 1.3438, 1.3459
Sup: 1.3266, 1.3245, 1.3213, 1.3190
GBP/USD
Failed again in attempt at 1.5282/1.5315 area, with fresh weakness now under way. 1.5147/28 zone offers strong support, and break there is required to resume a broader weakness towards 1.4797/80. Regain of 1.5315/80, however, would improve.
Res: 1.5250, 1.5282, 1.5315, 1.5380
Sup: 1.5147, 1.5128, 1.5117, 1.5042
USD/JPY
Current pullback is seen as corrective in structure with an hourly reversal pattern having been triggered. Scope is now for further weakness towards 92.75 and 91.45, 200 day moving average. Back over 94.03 defers.
Res: 93.55, 93.85, 94.03, 94.25
Sup: 93.05, 92.75, 92.45, 92.11
USD/CHF
Daily structure continues to be constructive with a bull-flag in place, following the recent break over 1.0749. Hourly structure also remains positive, with scope for a near-term rise towards 1.0809/27. Downside, 1.0677 offers initial support.
Res: 1.0795, 1.0809, 1.0827, 1.0898
Sup: 1.0712, 1.0677, 1.0643, 1.0585
could you keep us UPDATE
on the previous day -- how is the prediction turn out (after 1 trading day) -- and what SL / TP would you recommend for each pair