Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 56
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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Extends the short-term uptrend, after two days congestion under 1.3061/75 resistance zone. Fresh strength was boosted by yesterday’s FOMC release, surging through 1.3075 and 1.3100, en-route to the next significant barrier at 1.3145, 04 Oct 2011 low and currently testing daily 55 day SMA at 1.3124. Short-term positive sentiment keeps the upside favored, though overextended near-term conditions may slow the rally. Daily structure continues to improve after break above 20 day SMA, with fresh momentum and MACD emerging above the centerlines, suggesting further recovery. Clearance of 1.3145 to open 1.3200 next. On the downside, key support remains at 1.2875, with initial supports lie at 1.3075/61 and 1.3000.
Res: 1.3145, 1.3196, 1.3211, 1.3258
Sup: 1.3100, 1.3075, 1.3061, 1.3000
GBP/USD
The pair resumes short-term uptrend from 1.5233, 13 Jan low, after corrective pullback from 1.5627 was contained at initial support at 1.5530, where fresh strength emerged. Rally through 1.5620/27 barrier, daily Ichimoku cloud base / 24 Jan previous high, is currently testing next strong resistance zone at 1.5760/70, daily 90 day SMA / 03 Jan high / main bear trendline off 1.617 high, with sustained break higher to expose 1.5700, Fib 50% of 1.6164/1.5233 descend, ahead of very strong resistance at 1.5770 zone, Dec’s range ceiling, also near Fib 61.8%. Overextended hourly studies suggest corrective pullback, with initial supports at 1.5627, also 20 day SMA and 1.5600. Key short-term support zone lies at 1.5535/00.
Res: 1.5677, 1.5700, 1.5770, 1.5800
Sup: 1.5627, 1.5600, 1.5550, 1.5530
USD/JPY
USD/JPY has erased over half of its latest strong rally that ended testing key med-term resistance zone at 78.20/30, after release of dollar negative FOMC data accelerated losses through initial support at 77.60, also broken bear-trendline. Negative near-term sentiment keeps the pair under pressure for extension lower and test of strong supports at 77.40/32, Fib 61.8% / previous highs, loss of which to confirm top and signal return to previous 77.32/76.85 range. Initial resistances lie at 77.80 and 78.00 and only break above the latter to ease near-term bear pressure.
Res: 77.80, 78.00, 78.27, 78.40
Sup: 77.50, 77.32, 77.00, 76.85
USD/CHF
Resumes the downtrend off 0.9600 resistance zone, after near-term consolidative/corrective phase failed to sustain gains above initial resistance at .9300, leaving a lower top under strong barrier at 0.9376, ahead of sharp fall under our initial target at 0.9200, Fib 38.2% of 0.8566/0.9593. Negative short-term structure keeps the downside favored, with break below 0.9178, 90 day SMA to expose 0.9100, then 0.9075/64, Fib 50% / 30 Nov 2011 low. Oversold 1 and 4H conditions, however, suggest corrective action preceding fresh weakness, with 0.9230/50 offering initial resistance and 20 day SMA, currently at 0.9275, expected to cap the upside.
Res: 0.9233, 0.9250, 0.9268, 0.9300
Sup: 0.9193, 0.9178, 0.9150, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (09:00 GMT)
EUR/USD
The near-term price action shows the pair in corrective pullback after extending two-week uptrend. Regain of significant barriers at 1.3145 and 1.3200, where daily Ichimoku cloud was briefly penetrated, sees scope for further extension higher. The pair so far reached 1.3232, exactly 38.2% retracement of 1.4246/1.2622 descend, looking for test of 1.3300, possibly 1.3429/58, Fib 50% / 08 Dec high, on a break. Dips have so far found footstep at 1.3135, ahead of figure support at 1.3100 and 1.3080, 27 Jan higher platform / Fib 50% of 1.2930/1.3232 ascend that should keep the downside protected for now.
Res: 1.3196, 1.3232, 1.3250, 1.3300
Sup: 1.3100, 1.3080, 1.3061, 1.3045
GBP/USD
Reverses lower after renewed attempt above 1.5700 barrier failed to sustain gains. Pullback of marginally fresh high at 1.5739 vs previous one at 1.5733, dipped below 1.5700 handle, so far holding above initial supports at 1.5660/40, with next array of support standing at 1.5625/00, where also main bull trendline lies. Near-term studies are losing momentum and risk break below 1.5600 that may signal short-term bulls on hold, while reversal above 1.5600 would keep 1.5770, critical resistance, in focus.
Res: 1.5700, 1.5733, 1.5770, 1.5800
Sup: 1.5672, 1.5660, 1.5640, 1.5625
USD/JPY
Maintains negative near-term sentiment after upside rejection at key barrier at 78.20/30 zone, with subsequent strong reversal losing important support at 77.00. Dip below the later now risks test of very important level at 76.50, med-term range floor, below which to open way for test of 76.00 zone initially and possibly posting fresh record lows. Corrective actions are seen limited at 77.00/30 zone for now.
Res: 76.85, 77.00, 77.28, 77.60
Sup: 76.65, 76.50, 76.10, 76.00
USD/CHF
Continues to head south, extending short-term bears from 0.9600 zone, where gains were capped, to post fresh low at 0.9113 last Friday, just ahead of our next downside target at 0.9100 / 0.9075, figure support / Fib 50% of 0.8566/0.9695 ascend. Corrective bounce on oversold near-term conditions, faces initial barrier at 0.9200, also 20 day SMA, while gains are likely to stay capped at 0.9230 zone, 24 Jan low / 27 Jan high, before fresh push lower, as studies on larger timeframes are entering negative territory. Loss of 0.9100 support to open 0.9075/64, Fibonacci level / 30 Nov low and possibly signal broader weakness towards 0.9000 and 0.8955, Fib 61.8% on a break. Only regain of 0.9300/38 barriers would provide relief.
Res: 0.9175, 0.9200, 0.9215, 0.9230
Sup: 0.9134, 0.9113, 0.9100, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (15:00 GMT)
EUR/USD
Extends pullback from last Friday’s closing, when the pair hit fresh high at 1.3232. Further easing broke below 1.3100 handle, currently testing strong support zone at 1.3080, Jan higher platform / Fib 50% of 1.2930/1.3232 ascend, with risk of extension towards 1.3060/45, main bull trendline / Fib 61.8%, possibly to 1.3000, as hourly Bollingers are widening. Hourly studies maintain negative tone, with oversold conditions suggesting corrective bounce. Immediate barrier lies at 1.3165 zone, also 20 day SMA and only sustained break here to improve near-term structure.
Res: 1.3131, 1.3165, 1.3196, 1.3232
Sup: 1.3075, 1.3061, 1.3045, 1.3000
GBP/USD
Remains under pressure after today’s recovery attempt off 1.5653, where a temporary support was found, failed under 1.5700 barrier, also 20 day SMA, reversing back to 1.5650, strong support zone. Holding above here, would keep possibility of fresh rally and extension of broader uptrend, with clearance of 1.5700 required to expose 1.5739, ahead of critical barrier at 1.5770. Failure to break above 1.5700, however, would risk fresh weakness and expose 1.5615/00, main bull trendline / figure support.
Res: 1.5700, 1.5724, 1.5739, 1.5770
Sup: 1.5653, 1.5640, 1.5625, 1.5600
USD/JPY
Continues to spiral lower after losing very strong support at 76.50 that kept the downside protected for past two months. Hourly studies in the negative territory, keep the downside favored, with initial target at 76.10/00 now in focus, after the pair posted fresh 3-month low at 76.30. Possibility of Bank of Japan’s intervention is getting higher, however, no official comments for now. On the upside, 76.75/85 offers initial barriers, ahead of 77.00/20, that is expected to cap.
Res: 76.50, 76.65, 76.85, 77.00
Sup: 76.30, 76.10, 76.00, 75.56
USD/CHF
Near-term recovery attempt from today’s fresh low at 0.9113, broke briefly above 0.9200, initial barrier. Hourly structure remains supportive for further gains, with regain of 0.9230, also Fib 23.6% of 0.9573/0.9113 descend, required to spark stronger recovery. Weakening studies on larger timeframes, however, keep the downside under pressure and risk further reversal, with 0.9100/0.9075 seen next.
Res: 0.9208, 0.9230, 0.9250, 0.9268
Sup: 0.9160, 0.9134, 0.9113, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EUR/USD
Returns to strength, regaining levels just under 1.3200, after yesterday’s pullback from fresh high at 1.3232 was contained at 1.3075, strong support, 27 Jan higher platform / Fib 50% of 1.2930/1.3232 ascend. Some positive tones that came from Greece, keep the single currency supported, however clearance of 1.3232, previous high / Fib 38.2% of 1.4246/1.2622, to signal a resumption of short-term bull-trend and open 1.3300/40, figure resistance / 90 day SMA, next. Positive hourly studies suggest further gains, however, corrective dips are likely. Immediate support lies at 1.3145, 20 day SMA and 1.3111, while only loss of 1.3075/60 support zone, would delay bulls.
Res: 1.3197, 1.3232, 1.3258, 1.3300
Sup: 1.3145, 1.3132, 1.3111, 1.3100
GBP/USD
Retests previous highs and strong barrier at 1.5740 zone, just ahead of very strong resistance at 1.5770, after correction lower was contained by 90 day SMA at 1.5650 zone. Clearance of the latter to signal fresh phase higher, as this will signal a break above two- month range that was capped at 1.5770. Near-term studies remain supportive, but overbought, while daily studies keep strong bullish tone. Dynamic support at 1.5700, 20 day SMA, underpins, while only break below 1.5650/40 zone, previous lows / main bull trendline, would risk stronger weakness.
Res: 1.5753, 1.5770, 1.5800, 1.5850
Sup: 1.5724, 1.5700, 1.5676, 1.5653
USD/JPY
The pair slumps to the levels close to 76.00 support, after upside rejection at 78.30 zone, previous range ceiling / 200 day SMA, triggered sharp reversal. Short-term outlook remains negative, with possible extension below 76.00 and test of record low at 75.56, posted on 31 Oct 2011, seen as likely scenario. However, possibility of Bank of Japan’s action is also quite high, as main support at 76.50 has been lost. Corrective bounces on oversold near-term conditions, face resistance at 76.50/75, with 20 day SMA, currently at 76.85, limiting the upside for now.
Res: 76.50, 76.65, 76.75, 76.85
Sup: 76.16, 76.10, 76.00, 75.56
USD/CHF
Remains under pressure, maintaining short-term negative structure, after corrective bounce from last Friday’s fresh low at 0.9113 was capped by descending 20 day SMA at 0.9208, just ahead of initial barrier at 0.9227, Friday’s high / Fib 23.6% of 0.9573/0.9113 descend. While the latter stays intact, downside risk towards 0.9113 / 0.9100 dominates, with break lower to trigger fresh extension of short-term bear-trend and expose Fib 50% at 0.9075 and figure support at 0.9000.
Res: 0.9165, 0.9188, 0.9208, 0.9227
Sup: 0.9128, 0.9113, 0.9100, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
The pair ticks lower in the mi-European session and beginning of US session, after fresh strength from yesterday’s base at 1.3075, failed to sustain gains above 1.3200 mark. Initially positive sentiment on near-term studies is now fading, with immediate risk of retesting support zone at 1.3160/50, today’s intraday low / 20 day SMA, however, while main bull trendline at 1.3100 and strong support at 1.3075 hold, broader bullish structure would stay intact. Loss of 1.3075 would weaken the near-term structure and confirm completion of Head and Shoulders pattern on hourly chart, as the neckline lies at 1.3075. On the upside, lift above 1.3232, to resume bulls towards 1.3300 next.
Res: 1.3212, 1.3232, 1.3258, 1.3300
Sup: 1.3160, 1.3145, 1.3132, 1.3111
GBP/USD
The recent rally from 1.5653, yesterday’s low and strong support zone, where the pair based, eventually broke above critical barrier at 1.5770, extending gains to 1.5794 so far. Brief consolidation is under way, with positive near-term studies favoring fresh rally and extension above 1.5800, Fib 61.8% of 1.6164/1.5622, for test of next barriers at 1.5875/85. Today’s close above 1.5770 to confirm positive structure. Initial support lies at 1.5740, previous highs / 20 day SMA.
Res: 1.5794, 1.5805, 1.5850, 1.5875
Sup: 1.5761, 1.5740, 1.5724, 1.5700
USD/JPY
The pair slumps to the levels close to 76.00 support, after upside rejection at 78.30 zone, previous range ceiling / 200 day SMA, triggered sharp reversal. Short-term outlook remains negative, with possible extension below 76.00 and test of record low at 75.56, posted on 31 Oct 2011, seen as likely scenario. However, possibility of Bank of Japan’s action is also quite high, as main support at 76.50 has been lost. Corrective action on oversold near-term conditions remains so far limited under initial barrier at 76.50, however, further extension higher towards 76.75/77.00 is not ruled out, before bears take control.
Res: 76.50, 76.65, 76.75, 76.85
Sup: 76.21, 76.16, 76.10, 76.00
USD/CHF
Remains under pressure, maintaining short-term negative structure, after corrective bounce from last Friday’s fresh low at 0.9113 was capped by descending 20 day SMA at 0.9208, just ahead of initial barrier at 0.9227, Friday’s high / Fib 23.6% of 0.9573/0.9113 descend. While the latter stays intact, downside risk towards 0.9113 / 0.9100 dominates, with break lower to trigger fresh extension of short-term bear-trend and expose Fib 50% at 0.9075 and figure support at 0.9000.
Res: 0.9158, 0.9188, 0.9208, 0.9227
Sup: 0.9120, 0.9113, 0.9100, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Near-term structure strengthened again after descend from 1.3212, yesterday’s high, was contained by 20 day EMA, just ahead of 1.3000 support. Strong rally regained 1.3200 handle, penetrating daily Ichimoku cloud again, but struggling to sustain gains through bear-trendline, connecting 1.3232 and 1.3212 highs. Hourly studies remain positive, with 1.3115/00 zone, today’s intraday low / 20 day SMA, required to contain dips on overbought hourlies, with clearance of 1.3200/12 required for fresh attack at 1.3232. Loss of 1.3100 handle would risk return to 1.3000.
Res: 1.3075, 1.3090, 1.3100, 1.3136
Sup: 1.3115, 1.3000, 1.3090, 1.3025
GBP/USD
Strong rally from today’s low at 1.5705, surged through critical barrier at 1.5770/1.5800, Nov/Dec range ceiling / Fib 61.8% of 1.6164/1.5266, to hit fresh 8-week high at 1.5867, just ahead of our initial target at 1.5557, 18 Nov high and figure resistance at 1.5900. Positive short-term structure remains supportive, with supports at 1.5800 and 1.5770, expected to contain corrective action on overbought near-term conditions. Only loss of 1.5700 handle would weaken near-term structure.
Res: 1.5867, 1.5887, 1.5900, 1.5940
Sup: 1.5800, 1.5770, 1.5743, 1.5700
USD/JPY
Remains under pressure after losing key med-term support at 76.50, as the pair ticked lower off near-term narrow consolidation band and tested next support at 76.00. Negative structure keeps the downside in focus, for possible test of all-time low at 75.56 and further extension lower. Immediate barriers lie at 76.40/50, ahead of 76.75/85, while only regain of 77.00 would ease bear pressure.
Res: 76.40, 76.50, 76.75, 76.85
Sup: 76.00, 75.56, 75.00, 74.50
USD/CHF
Continues to move sideways, within 0.9113/0.9250 near-term range, after corrective bounce failed to sustain gains above initial barriers at 0.9208/27, when rally ran out of steam at 0.9250. Near-term studies remain turned towards the downside, as broader downtrend from 0.9600 barrier stays intact, with break below 0.9100 to open Fibonacci levels at 0.9075 and 0.8655, 50% & 61.8%. Only lift above range ceiling at 0.9250, also near Fib 61.8% of 0.9338/0.9113 downleg, to signal bottom and allow for stronger recovery.
Res: 0.9161, 0.9183, 0.9200, 0.9250
Sup: 0.9120, 0.9113, 0.9100, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
The upside remains capped under 1.3232, previous peak / Fib 38.2% of 1.4246/1.2622, during past couple of days, as the pair continues to move sideways, holding within 1.3025/1.3200 range. Wider picture, however, keeps short-term bullish structure intact, while daily 20 day EMA holds the downside at 1.3030 zone. Clear break above initial barrier at 1.3200/12, to open 1.3232, strong resistance for retest, above which to start fresh leg higher and expose 1.3300, daily 90 day EMA. Immediate support lies at 1.3140, ahead of 1.3100/1.3075 zone that is expected to hold the downside for now. Only loss of 1.3025, yesterday’s low and 1.3000, Fib 38.2% of 1.2622/1.3232, would weaken short-term structure.
Res: 1.3190, 1.3200, 1.3112, 1.3232
Sup: 1.3140, 1.3115, 1.3000, 1.3075
GBP/USD
Maintains positive structure after sharp rally through critical 1.5770/1.5800 barrier and yesterday’s close above here. The pair has so far reached initial target at 1.5880 zone, 18 Nov high, with 1.5900, figure resistance and 1.5940, 200 day SMA / Fib 76.4%, in focus. However, overbought near-term conditions, suggest corrective pullback may precede fresh rally, with initial levels at 1.5800/1.5570, now reverted to supports, ahead of 1.5700, above which dips should be contained. Only break here would sideline immediate bulls, in favor of stronger correction.
Res: 1.5881, 1.5887, 1.5900, 1.5940
Sup: 1.5817, 1.5800, 1.5770, 1.5743
USD/JPY
Remains under pressure after losing key med-term support at 76.50, as the pair ticked lower off near-term narrow consolidation band and tested 76.00 support. Near-term price action sees the pair in sideways mode, moving within very narrow range, with negative structure keeping the downside in focus, for possible test of all-time low at 75.56 and further extension lower. Immediate barriers lie at 76.40/50, ahead of 76.75/85, are expected to cap corrective rallies. Possible action of BOJ remains on the table.
Res: 76.40, 76.50, 76.75, 76.85
Sup: 76.00, 75.56, 75.00, 74.50
USD/CHF
Continues to move sideways, within 0.9113/0.9250 near-term range, after corrective bounce failed to sustain gains above initial barriers at 0.9208/27, when rally stalled just ahead of Fib 61.8% of 0.9338/0.9113 downleg at 0.9250. Resumption of short-term downtrend from 0.9600 is seen on a break below 0.9100, to open Fibonacci levels at 0.9075 and 0.8955, 50% and 61.8%, as negative daily studies and widening Bollingers, suggest fresh weakness. Only sustained break above range ceiling at 0.9250, would allow for stronger recovery.
Res: 0.9163, 0.9183, 0.9200, 0.9250
Sup: 0.9128, 0.9113, 0.9100, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Continues to move within 1.3025/1.3200 range, after repeated failure to reclaim previous peak at 1.3232. Near-term tone is showing the downside pressure, as the pair opened with gap lower and continues to move lower. Break below initial support and higher base at 1.3085/65, now looks for test of next levels at 1.3025/00, 01 Feb low / Fib 38.2% of 1.2622/1.3232 ascend, below which would question short-term bulls and open way for further retracement towards next significant support at 1.2930, 25 Jan low / Fib 50%. Near-term studies are in the negative territory, with dailies starting to point lower and price breaking below 55 day SMA, keeping the upside targets out of reach for now. On the upside, filling the overnight gap and regain of 1.3135, 20 day SMA, is required to improve the immediate tone.
Res: 1.3085, 1.3100, 1.3130, 1.3166
Sup: 1.3052, 1.3025, 1.3000, 1.2930
GBP/USD
Corrective easing off 1.5881, 01 Feb fresh high, attempts to base at 1.5750 zone, also main bull trendline, to keep short-term bullish structure intact. However, further correction is not ruled out, as near-term studies are negative, with levels to come in focus on break below 1.5750, at 1.5740 and 5705. Larger timeframe studies remain positive, signaling possible fresh strength and attack at 1.5900, figure resistance and 1.5950, 200 day SMA, while 1.5700 zone and 90 day SMA at 1.5675, hold corrective dips.
Res: 1.5785, 1.5800, 1.5830, 1.5859
Sup: 1.5750, 1.5740, 1.5705, 1.5660
USD/JPY
Near-term positive tone, established after last Friday’s US NFP data, cleared initial resistance at 76.40/50, previous strong support, to test the next barrier at 76.75, so far, ahead of 76.89, Fib 38.2% of 78.27/76.00 downleg. Hourly studies are positive, corrective pullback on overbought conditions under way. Initial support, at 76.50/40 needs to hold the downside for possible fresh strength towards 77.00 and, 77.10 / 77.31, 20 / 55 / 90 days MA’s, also Fib 50%, clearance of which to avert downside risk.
Res: 76.79, 76.89, 77.00, 77.10
Sup: 76.50, 76.40, 76.13, 76.00
USD/CHF
The pair continues to move higher, post US data, after creating near-term base at 0.9110 zone. Regain of previous barriers at 0.9208 and 0.9227, improves near-term outlook, however, while the recent high at 0.9250, also Fib 61.8% of 0.9338/0.9113 descend, needs to be cleared to confirm base and open way for stronger recovery towards 0.9300 and strong barrier at 0.9338, 25 Jan high. Otherwise, holding below 0.9250 would signal further range trading.
Res: 0.9250, 0.9283, 0.9300, 0.9338
Sup: 0.9200, 0.9172, 0.9125, 0.9113
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Near-term price action shows the pair under pressure, after several unsuccessful attempts at 1.32 barrier. While daily Ichimoku cloud continues to cap the upside, focus remains at lower targets, as the pair tested near-term range floor at 1.3025 so far. Negative hourly studies see scope for test of 1.3000, figure support / Fib 38.2% of 1.2622/1.3232 upleg, ahead of next significant level at 1.2930, 25 Jan low / Fib 50%. Negative news from Greece, put additional pressure on Euro. Upside barriers at 1.3135/60, 20 day SMA / bear-trendline, are expected to cap for now.
Res: 1.3080, 1.3100, 1.3130, 1.3166
Sup: 1.3025, 1.3000, 1.2953, 1.2930
GBP/USD
Near-term corrective pullback off 1.5881, found temporary support at 1.5730, also 26/27 Jan highs, after losing significant supports at 1.5785 and 1.5750. Quick recovery on oversold hourly studies, heads towards 1.5800 barrier, also 20 day SMA, break of which is required to ease bear pressure and allow for stronger recovery towards 1.5830/45, last Friday’s intraday high / bear-trendline off 1.5881. Failure to lift above 1.5800, however, would risk lower top and fresh extension of near-term corrective phase off 1.5881, with important level at 1.5705, 01 Feb low / Fib 50%, to come in focus.
Res: 1.5800, 1.5830, 1.5860, 1.5881
Sup: 1.5730, 1.5705, 1.5660, 1.5640
USD/JPY
Remains congested around 76.60, after last Friday’s rally cleared initial resistance at 76.40/50, previous strong supports, to test the next barrier at 76.75, daily 20 day SMA, where gains were limited for now, just ahead of 76.89, Fib 38.2% of 78.27/76.00 downleg and 77.00, figure resistance. Holding above 76.50 would keep near-term gains in play for further recovery, however, hourly studies are losing momentum that may risk loss of 76.50 and further reversal. On the upside, regain of 77.00 and MA’s at 77.10/30, is required to confirm base at 76.00 and turn short-term focus higher, as the wider picture shows the pair moving within 76.00/78.00 range.
Res: 76.69, 76.79, 76.89, 77.00
Sup: 76.50, 76.40, 76.13, 76.00
USD/CHF
The pair maintains positive near-term structure, after last Friday’s upbeat jobs data, boosted the dollar. Bounce off near-term base at 0.9110 zone and regain of previous barriers at 0.9208 and 0.9227, resulted in brief break above key near-term barrier and range ceiling at 0.9250, also Fib 61.8% of 0.9338/0.9113 downleg. Sustained break here is required to resume recovery and open 0.9300 and strong barrier at 0.9338, 25 Jan high and confirm base. Near-term studies remain supportive, however, corrective pullback may precede fresh gains, as 1 and 4H RSI is in overbought zone. Only loss of 0.9200/0.9180 would weaken near-term structure and signal further range-trade.
Res: 0.9261, 0.9283, 0.9300, 0.9338
Sup: 0.9222, 0.9210, 0.9200, 0.9172
Windsor Brokers - Short Term Technical Analysis for Majors (09:30 GMT)
EUR/USD
Has regained some ground after yesterday’s weakness was contained at key near-term support and range floor at 1.3025. The downside remains vulnerable, as long as key barriers at 1.3200/32 cap the upside. This morning’s fresh strength probed levels above bear-trendline at 1.3160, however, sustained break here is required maintain fresh strength off 1.3025 for possible attack at 1.3200/32. Hourly studies are turning positive, with 20 day SMA at 1.3110, underpinning. On the downside, break below 1.3100/1.3088, to signal an end of recovery attempt and re-focus key near-term support at 1.3025.
Res: 1.3080, 1.3100, 1.3130, 1.3166
Sup: 1.3025, 1.3000, 1.2953, 1.2930
GBP/USD
Improves the near-term outlook after yesterday’s dip under strong support at 1.5750, 03 Feb low / Fib 38.2% of 1.5530/1.5881, proved to be a false break, as the pair quickly recovered to the levels above 1.5800. However, broader picture keeps the negative tone, a long as bear-trendline off 1.5881, currently at 1.5837, limits the upside. Break here is required to open 1.5859 and 1.5881 barriers and signal an end of near-term corrective/consolidative phase. Key near-term supports lie at 1.5730/05 and only loss of the latter to sideline short-term bulls in favor of stronger correction.
Res: 1.5839, 1.5859, 1.5881, 1.5900
Sup: 1.5800, 1.5791, 1.5750, 1.5730
USD/JPY
The pair enters near-term range-trade, following the latest rally of 76.00 base that was limited at 76.80 so far. However, while key support and recent range floor at 76.50 holds, the potential for further recovery exists, with break through Fibonacci 38.2% at 76.86 and 77.00, figure resistance, to expose dynamic resistances at 77.10/30, 55 / 90 day SMA’s and Ichimoku cloud base at 77.40. Regain of these levels is required to bring the pair back to the previous ranges and avert downside risk of testing all-time low at 75.56.
Res: 76.79, 76.89, 77.00, 77.10
Sup: 76.61, 76.50, 76.40, 76.13
USD/CHF
Returns to the near-term range, after yesterday’s brief break above strong barrier and range ceiling at 0.9250, also Fib 38.2% of 0.9338/0.9113 descend. Sharp reversal and break below 0.9200 handle, turns the near-term structure into neutral/negative territory, with break of either side to define near-term direction. Daily studies, however, keep the downside focused, as congestion at 0.9250 zone limits the upside, with widening daily Bollingers, looking for retest of 0.9113/00 for possible attack at Ichimoku cloud base at 0.9057, below which to signal further extension of short-term downtrend from 0.9593, 09 Jan peak.
Res: 0.9200, 0.9213, 0.9250, 0.9261
Sup: 0.9160, 0.9125, 0.9113, 0.9100