Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 57
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Break above 1.3232, previous high / Fib 38.2% of 1.4246/1.2622, ended near-term corrective phase that found ground at 1.3025, where fresh strength emerged and triggered fresh extension of short-term uptrend from 1.2622, 13 Jan low. Immediate upside target at 1.3300 comes under pressure, with more significant levels at 1.3320, 90 day SMA and 1.3400/30, figure resistance / Fib 50%, coming in focus. Short-term studies remain positive, however, overbought conditions warn of correction. Previous high at 1.3232 offers immediate support, ahead of 1.3200 zone and dynamic 20 day SMA at 1.3150, where dips should be contained. Key short-term support lies at 1.3025 higher platform.
Res: 1.3285, 1.3300, 1.3320, 1.3460
Sup: 1.3240, 1.3232, 1.3216, 1.3200
GBP/USD
The pair cleared near-term barrier at 1.5880, after fresh strength emerged from 1.5730, where higher low was left on a false break below 1.5750, previous range floor. Break above 1.5900, now approaches important 200 day SMA barrier at 1.5935, however, despite positive short and longer-term studies, overbought conditions on shorter and larger timeframes, suggest that pair may struggle at this point. Initial supports lie at 1.5880, 1.5860 and 1.5840.
Res: 1.5900, 1.5935, 1.6000, 1.6050
Sup: 1.5880, 1.5860, 1.5840, 1.5800
USD/JPY
Resumes the near-term uptrend off 76.00 base, after important level at 76.50 contained short consolidative phase. Regain of 77.00 handle and 55 day SMA at 77.10, also Fib 50% of 78.27/76.00 descend, now looks for test of next dynamic barrier of 90 day SMA, currently at 78.28, to continue recovery towards 78.00. Near-term studies are supportive, however, extended conditions see risk of consolidation/correction, preceding fresh rally. Immediate support lies at 76.80, while only loss of 76.50, would weaken the near-term tone.
Res: 77.14, 77.28, 77.50, 78.00
Sup: 77.00, 76.80, 76.61, 76.50
USD/CHF
Breaks briefly below the near-term range floor at 0.9113, after upside failure to clear range ceiling at Fibonacci level at 0.9250, triggered sharp sell-off. This signals possible end of consolidative phase and resumption of broader downtrend from 0.9600 area, with clear break below 0.9100 required to confirm. Dib 50% of 0.8566/0.9593, at 0.9075, comes next, ahead of 90 day SMA, currently at 0.9000. On the upside, only regain of 0.9200 would avert immediate downside risk and signal further range trading.
Res: 0.9139, 0.9155, 0.9177, 0.9200
Sup: 0.9100, 0.9075, 0.9050, 0.9000
Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)
EUR/USD
Rallies higher after rather positive news from Greece, to recover last Friday’s losses that found support at 1.3150. Today’s gap higher opening suggests possible extension towards 1.3300/20 barriers, where 90 day SMA limited upside attempts. The recent rally suggests that most of the optimism regarding Greece’s deal have already been priced in, although positive hourly studies support the latest advance, along with wider picture’s outlook. Clearance of 1.3320 MA is required to resume short-term rally and open 1.3400 and Fibonacci level at 1.3425. Immediate barriers lie at 1.3285/1.3300 zone, while downside remains protected at 1.3220/00 zone, also 20 day SMA and only loss of the latter to trigger further weakness and cover today’s gap.
Res: 1.3275, 1.3285, 1.3300, 1.3320
Sup: 1.3232, 1.3220, 1.3200, 1.3153
GBP/USD
Extended the near-term weakness off 1.5926, 08 Feb peak and 200 day SMA, to test key near-term support at 1.5730 last Friday. Current bounce is seen corrective as long as 1.5820/50, trendline resistance / Friday’s high / 20 day SMA, stay intact, as the pair struggles at 1.5800, former higher base and broken H&S neckline. Risk is seen of fresh lower high and retest of 1.5730, loss of which to open next supports at 1.5700 and 1.5650. Only lift above 1.5820 would provide near-term relief.
Res: 1.5800, 1.5820, 1.5850, 1.5880
Sup: 1.5777, 1.5757, 1.5730, 1.5700
USD/JPY
Remains in a strong uptrend, with near-term price action seen consolidating the recent gains that peaked at 77.80 and currently moving within 77.50/80 range. Near-term focus is at next strong barrier at 78.00, where main bear trendline off 2007 peak and 200 day SMA lie, above which to focus the next significant resistance at 78.27, Nov/Dec 2011 range ceiling / 25 Jan peak. Daily studies are breaking above their midlines and confirming the current bullish structure. Today’s low at 77.50, offers initial support, with previous high and Fibonacci level at 77.20, expected to contain corrective dips.
Res: 77.80, 78.00, 78.27, 78.40
Sup: 77.50, 77.20, 77.00, 76.80
USD/CHF
The pair comes under pressure again after false break below static support at 0.9100 and subsequent bounce stalled at 0.9200. Today’s gap lower opening and current test of 0.9100 risks further weakness, as the upside stays capped for now. Firm break below 0.9100 and 0.9075, Fibonacci 50% of 0.8566/0.9593 ascend / daily Ichimoku cloud base, to resume short-term weakness off 0.9593, 09 Jan peak and expose 0.9000, figure support and Fib 61.8% at 0.8955.
Res: 0.9134, 0.9158, 0.9171, 0.9200
Sup: 0.9150, 0.9135, 0.9110, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
The pair comes under increased pressure after yesterday’s failure to clear initial resistance at 1.3280, resulted in fresh weakness. Loss of day low at 1.5757 filled the gap, extending losses through last Friday’s low at 1.3153, also main bull trendline off 1.2622, 13 Jan low, after downgrade of a number of European countries was announced. Break below daily 20 day SMA, currently at 1.3117 to open way towards next targets at 1.3100/1.3090 zone, with key near-term support at 1.3025, to come in focus. Corrective action on oversold hourly conditions, faces strong resistance at 1.3200/30 zone that is expected to limit the upside for now.
Res: 1.3163, 1.3200, 1.3220, 1.3230
Sup: 1.3126, 1.3100, 1.3090, 1.3025
GBP/USD
Yesterday’s failure to clear 1.5800 congestion, also bear trendline off 1.5926 high, triggered fresh weakness through higher platform and H&S neckline at 1.5730 and 1.5700, daily 20 / 90 day SMA’s, to signal further weakness ahead. Immediate targets lie at 1.5650/40 zone, as near-term studies remain negative. Oversold conditions on hourly chart, however, suggest corrective rally before near-term bears resume, with 1.5790 zone, 20 day SMA / trendline resistance, expected to cap.
Res: 1.5727, 1.5757, 1.5777, 1.5790
Sup: 1.5683, 1.5650, 1.5640, 1.5600
USD/JPY
The near-term positive sentiment was boosted by BoJ decision to further loosen monetary policy, as the pair emerged from two-day consolidation, rallying through long-term bear-trendline, drawn off 2007 high and attempting through next strong barrier at 78.05, 200 day SMA . Break here to expose another significant resistance at 78.27, Nov/Dec 2011 range ceiling / 25 Jan peak, to possibly re-focus post-intervention highs at 79.00/50, on a break. Near-term studies are positive, yet no signals of reversal, despite overbought hourly conditions. Initial support lies at 77.80, previous range ceiling, with 20 day SMA at 77.65, expected to contain. Only break below yesterday’s lows at 77.35, would delay immediate bulls.
Res: 78.05, 78.27, 78.40, 79.00
Sup: 77.80, 77.50, 77.35, 77.20
USD/CHF
Returns to the near-term range, after finding good support at 0.9100, with sharp recovery after false break lower, regaining last Friday’s high at 0.9200 zone. Studies on 4H chart turned positive and see potential for further extension higher and test of key upside levels at 0.9250/60, near-term range ceiling, break of which to open way for stronger recovery of broader downtrend from 0.9600 high. Clear break above 0.9200 barrier is required, however, pullback overbought hourly conditions, may delay rally. Immediate support lies at 0.9170, ahead of strong one at 0.9150 zone.
Res: 0.9195, 0.9225, 0.9250, 0.9260
Sup: 0.9170, 0.9158, 0.9150, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Continues to channel lower as fears of Greece’s bailout failure and recent downgrade of European countries credit rate, put additional pressure on the pair. Break below key near-term support at 1.3025 and figure support at 1.3000, sets scope for fresh leg lower, with immediate target at 1.2970, Fib 50% of 1.2622/1.3320 and 1.2930, 25 Jan low. Negative near-term studies keep the focus at the downside, immediate resistance at 1.3025, previous support, ahead of 20 day SMA at 1.3050 and previous low at 1.3078, expected to limit corrective rallies.
Res: 1.3030, 1.3050, 1.3078, 1.3100
Sup: 1.2970, 1.2930, 1.2900, 1.2875
GBP/USD
Near-term price action shows the pair remains under pressure, as recovery attempt from fresh low at 1.5643 was limited by 20 day SMA that maintains short-term downtrend off 1.5926. While 1.5730 zone, yesterday’s high / 10/6 Feb lows / channel resistance, caps, near-term focus remains towards the downside, with loss of 1.5643 to expose 55 day SMA at 1.5600 and Fib 50% at 1.5580.
Res: 1.5711, 1.5721, 1.5735, 1.5770
Sup: 1.5658, 1.5643, 1.5600, 1.5580
USD/JPY
Trades in a near-term consolidative mode after bulls surged through very strong barriers at 78.00 and 78.27, to post fresh 3 ½ month high at 78.65. Corrective dips were contained at initial 78.30/20 support zone that sees potential of further extension higher. Above 78.65 to target 79.00 and very strong resistance at 79.52, post October’s intervention peaks. Near-term studies are pointing higher, with initial support at 78.20, ahead of 78.00, 200 day SMA.
Res: 78.52, 78.65, 79.00, 79.52
Sup: 78.35, 78.20, 78.00, 77.80
USD/CHF
Extends gains off 0.9100 support zone, after yesterday’s pullback was held above 20 day SMA, to clear strong resistance and near-term range ceiling at 0.9250/60, currently attempting through Fib 38.2% of 0.9293/0.9087 descend. Positive near-term sentiment sees potential for further recovery towards round figure barrier at 0.9300 and 55 day SMA at 0.9315, ahead of more significant static resistance at 0.9338, 25 Jan high / Fib 50%, above which to confirm base at 0.9100 zone. Previous highs at 0.9260/50 offer initial support, ahead of 0.9227, while only loss of 0.9200 zone would weaken the near-term structure.
Res: 0.9282, 0.9300, 0.9315, 0.9338
Sup: 0.9260, 0.9250, 0.9227, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Maintains positive sentiment off last Thursday’s low at 1.2973, as positive outcome for Greece is expected on today’s Eurozone Financial Ministers meeting. Today’s gap higher opening shows the pair well bid, with 76.4% retracement of 1.3320/1.2973 downleg, seen so far. Near-term studies continue to point higher, as the last barriers at 1.3280 zone, 13 Feb high / 90 day SMA, come in focus, ahead of key resistance at 1.3320.Initial support lies at 1.3173, ahead of 1.3137/14 zone that is expected to contain corrective dips and keep near-term bulls in play.
Res: 1.3236, 1.3277, 1.3282, 1.3300
Sup: 1.3196, 1.3173, 1.3137, 1.3114
GBP/USD
Extends near-term bulls off 1.5650 zone double bottom, to test 1.5880 so far, the last barrier ahead of key hurdles at 1.5913/26, 200 day SMA / 08 Feb high. Break here is required to resume short-term uptrend from 1.5233, 13 Jan low and expose 1.6000 next. Positive near-term studies remain supportive, however, corrective pullback may precede fresh rally, with 1.5800/1.5770 zone expected to hold the downside.
Res: 1.5878, 1.5882, 1.5900, 1.5926
Sup: 1.5826, 1.5800, 1.5792, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, has finally cleared the main barrier at 79.52, 31 Oct 2011 post-intervention peak, reaching 79.88 high so far, ahead of psychological barrier at 80.00, above which to signal break above longer-term range from Aug 2011. Corrective easing on overbought hourly/4H conditions sees supports at 79.00 and 78.70.
Res: 79.59, 79.88, 80.00, 80.23
Sup: 79.00, 78.70, 78.50, 78.35
USD/CHF
Extends the near-term weakness after upside failure just under 0.9300, with break below daily Ichimoku cloud, bringing key supports at 0.9100/0.9087 into focus. Loss of the latter to trigger fresh bear-phase and extend the short-term downtrend from 0.9593, 09 Jan high, for test of Fibonacci level at 0.9075, possibly 0.9000, figure support, on a break. Strong resistance lies at 0.9200, 17/10 Feb highs / 20 day SMA.
Res: 0.9161, 0.9177, 0.9200, 0.9250
Sup: 0.9136, 0.9113, 0.9100, 0.9087
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
The pair rallied on Greek deal announcement, moving from overnight’s low at 1.3187, to briefly break above daily 90 day SMA, but so far failed to regain psychological level at 1.3300 and key near-term barrier at 1.3320. Positive structure off 1.2973, last week’s low / Fib 50% of 1.2622/1.3320 ascend, sees potential for attempt through 1.3320, to resume short-term uptrend from 1.2622 and expose 1.3400 and 1.3430, Fib 50% of 1.4246/1.2622 descend. Previous resistance at 1.3230, now offers initial support, ahead of more significant 1.3180 zone and 4H 20 day SMA at 1.3160, where corrective dips should be contained, to keep immediate bulls intact.
Res: 1.3292, 1.3300, 1.3320, 1.3350
Sup: 1.3230, 1.3200, 1.3180, 1.3137
GBP/USD
Holds the near-term positive tone from 1.5650 zone double-bottom, but gains are still capped under 200 day SMA at 1.5911 and key near-term resistance at 1.5926, 08 Feb peak. Clear break here is required to resume short-term rally and signal fresh bull-phase, however, wider picture outlook is more pessimistic, as studies started to point lower, with risk of repeating the scenario from Oct / Nov 2011, when price action was capped by 200 day SMA and triggered significant losses. Strong near-term support lies at 1.5800 zone.
Res: 1.5860, 1.5879, 1.5882, 1.5900
Sup: 1.5815, 1.5800, 1.5788, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, has finally cleared the main barrier at 79.52, 31 Oct 2011 post-intervention peak, reaching 79.88 high so far, ahead of psychological barrier at 80.00, above which to signal break above longer-term range from Aug 2011. Subsequent consolidation found ground at 79.50, now acting as support, with fresh gains under way, looking for fresh extension of short-term uptrend. Near-term studies remain supportive.
Res: 79.88, 80.00, 80.23, 80.40
Sup: 79.50, 79.00, 78.70, 78.50
USD/CHF
Remains under pressure after the recent upside rejection at 0.9300, with subsequent slide breaking below strong support zone at 0.9100/0.9087, to post marginally lower low at 0.9081 so far. Bounces are seen corrective, as long as holding below 0.9150/80 zone, with focus at 0.9075, Fibonacci level, ahead of 0.9000, psychological support. To improve the short-term structure, clear break above 0.9300 barrier is required.
Res: 0.9120, 0.9150, 0.9162, 0.9177
Sup: 0.9100, 0.9087, 0.9081, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Near-term price action sees the pair moving in a narrow range and directionless mode, after initial optimism about Greek’s deal faded and price dropped to 1.3200 zone, where temporary support was found. Hourly studies are neutral, while 4H structure is weakening. Break below key near-term supports at 1.3210/00, yesterday’s intraday lows / 20 day SMA and 1.3181/70, yesterday’s low / Fib 38.2% of 1.2973/1.3292, to further weaken the structure and open 1.3150, 10 Feb low and 1.3133, Fib 50%. On the upside, minor resistances lie at 1.3250/74, with yesterday’s high at 1.3292 and key barrier at 1.3320, clearance of which is required to end near term congestion and resume broader uptrend from 1.2622, 13 Jan low.
Res: 1.3250, 1.3266, 1.3274, 1.3292
Sup: 1.3210, 1.3200, 1.3180, 1.3170
GBP/USD
Extends near-term weakness off 1.5880, 20/09/01 Feb highs, where the recent strong rally off 1.5650 double-bottom was capped. Steady decline has so far erased 50% of the initial rally at 1.5762, with potential for further weakness seen on negative hourly studies, as corrective bounce stays limited at 1.5800 for now. Loss of 1.5762 to expose 1.5740/35 zone next, Fib 61.8% / 15 Feb high, below which would confirm lower high at 1.5880 and re-focus strong support at 1.5650. Only regain of 1.5830 zone, where 20 day SMA lies, would improve near-term tone.
Res: 1.5860, 1.5879, 1.5882, 1.5900
Sup: 1.5815, 1.5800, 1.5788, 1.5770
USD/JPY
The pair’s strong three-week rally off 76.00 base, continues to break its upside barriers, with the last one at 80.00, cleared today. This opens way for further gains and test of breakpoint at 80.23, also med-term range ceiling of Jul 2011/Feb 2012 broader congestion. Break here to signal basing attempt and open way for stronger recovery of long-term downtrend from 2007. Hourly studies are positive, but overbought conditions signal corrective pullback, ahead of fresh rally, as yet no signal of reversal on the wider picture’s outlook. Previous high at 79.52, along with 20 day SMA, offers good support for now.
Res: 80.00, 80.23, 80.40, 80.50
Sup: 79.88, 79.60, 79.50, 79.00
USD/CHF
The downside remains in focus after upside rejection at 0.9300 barrier and subsequent slide broke below initial supports at 0.9100/0.9090, as the price action holds below daily Ichimoku cloud. Yesterday’s corrective attempt was capped at initial barrier at 0.9150, with fresh weakness under way, however, hourly structure shows the price action entrenched in 50-pips range and in directionless mode, as long as 0.9100/0.9080 support holds, with break here to signal an extension of short-term downtrend and expose round figure support at 0.9000.
Res: 0.9135, 0.9150, 0.9162, 0.9188
Sup: 0.9100, 0.9087, 0.9081, 0.9075
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Hourly structure remains neutral, as the price action still in a range-trading mode, with the downside protected at 1.3200 support zone for now. Brief bounce to 1.3280 so far, needs to clear minimum 1.3292, to improve the near-term outlook and expose key barrier at 1.3320, clearance of which to resume the uptrend from January’s low at 1.2622. Four-hour chart outlook, however, shows more positive tone and keeps focus at 1.3320 peak, with 20 day SMA at 1.3240, underpinning. On the downside, loss of consolidation floor at 1.3200 would weaken the near-term structure and allow for stronger pullback, with Fib 38.2% / 50% of 1.2973/1.3292 at 1.3170/1.3132, to come next.
Res: 1.3282, 1.3292, 1.3320, 1.3400
Sup: 1.3230, 1.3200, 1.3180, 1.3170
GBP/USD
The pair consolidates yesterday’s heavy losses that fully erased the near-term rally from 1.5650, double-bottom to 1.5880, where gains were capped. Attempt to make a new base at 1.5650, must regain minimum 1.5770, previous high / near Fib 50%, to avert immediate downside risk, as near-term studies are negative, with the latest bounce seen corrective. Clear break above 1.5800/13 is required to confirm. On the downside, loss of very strong support at 1.5650, to confirm lower top at 1.5880 and open fresh bear-phase and possibly repeat the scenario from Oct/Nov 2011, when repeated attempts to clear 200 day SMA at 1.6100/1.6000 zone failed and triggered significant losses to 1.5400 zone, initially.
Res: 1.5700, 1.5720, 1.5735, 1.5760
Sup: 1.5650, 1.5600, 1.5580, 1.5530
USD/JPY
Holds positive short-term tone off 76.00 base, with yesterday’s break above key med-term barrier and breakpoint at 80.23, looking for further recovery towards weekly 90 day SMA at 81.30. Hourly studies show the pair in corrective mode, while bigger picture remains firmly bullish and showing no signal reversal, despite daily RSI being in overbought zone. Supports lie at 80.00 and 79.88, 4H 20 day SMA, with 79.50 expected to contain.
Res: 80.23, 80.40, 80.50, 81.00
Sup: 80.00, 79.88, 79.60, 79.50
USD/CHF
Near-term structure turns negative after recovery attempt failed at initial resistance at 0.9150. Attempt to create base at 0.9100/0.9070 zone is now fading, as renewed pressure pushed the price to 0.9070 so far. Break here to signal an extension of short-term downtrend off 0.9593, Jan’s peak and expose 0.9000 and 0.8655, Fibonacci 61.8% of 0.8566/0.9593, Oct / Jan rally. Previous support at 0.9100 offers initial resistance, along with 20 day SMA at 0.9115, while 0.9150 is expected to cap for now.
Res: 0.9100, 0.9115, 0.9135, 0.9150
Sup: 0.9070, 0.9050, 0.9000, 0.8955
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Corrective pullback off last Friday’s fresh high at 1.3465, levels last time visited at the beginning of Dec 2011, found footstep at 1.3365, 4H 20 day SMA and just ahead of strong support zone at 1.3350/40. Fresh strength above 1.3400 handle, regained 1.3450 so far, however, clearance of yesterday’s intraday high at 1.3463 is required to re-focus 1.3485/1.3500, otherwise, further easing is not ruled out, as hourly studies started to point lower. Immediate supports at 1.3400/1.3380 zone are expected to contain, to keep positive sentiment intact, while only break below 1.3365/40 support zone would allow for stronger pullback and turn the near-term focus lower.
Res: 1.3450, 1.3463, 1.3485, 1.3500
Sup: 1.3400, 1.3385, 1.3365, 1.3356
GBP/USD
Rally from 1.5650, very strong support zone was once more capped by 200 day SMA at 1.5900, keeping the upside intact for now. Subsequent reversal was contained at 1.5800 zone, above 20 day SMA and more significant 1.5770 support. Holding above the latter, keeps the pair within the range, while break lower to turn focus towards 1.5720/00, next supports. Only sustained break above 1.5900/26 would signal break above 1.5900/1.5650 range and resume broader uptrend from 1.5233, 13 Jan low.
Res: 1.5868, 1.5880, 1.5900, 1.5926
Sup: 1.5809, 1.5800, 1.5770, 1.5720
USD/JPY
Near-term price action shows the pair in defense after hitting fresh 9-month high at 81.65 yesterday. Swing lower was for now contained at 80.00, just above static support at 79.84, attempting through yesterday’s intraday high and hourly 55 day SMA at 80.65, break of which is required to trigger further recovery. Hourly studies, however, are still weak and further easing is not ruled out, as long as 81.00 stays intact, with potential break below 80.00, to expose next support at 79.50.
Res: 80.75, 81.00, 81.24, 81.65
Sup: 80.00, 79.84, 79.50, 79.00
USD/CHF
Trades in a near-term corrective mode, off 0.8929, last Friday’s fresh low. Upside was so far capped at 0.9000 resistance, but room for stronger bounce still exists. While today’s low at 0.7960 holds, immediate focus is at 0.9000, above which to trigger further recovery towards strong resistance zone at 0.9070/0.9100. Wider picture, however, shows bears off 0.9573, 09 Jan high, firmly in play.
Res: 0.9000, 0.9009, 0.9025, 0.9063
Sup: 0.8960, 0.8945, 0.8929, 0.8900
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Maintains positive near-term tone off 1.3365, 27 Feb low, retracing fully the recent 1.3485/1.3365 pullback. Hourly studies are supportive for fresh attempt through 1.3485, to test 1.3500, figure resistance and 1.3547, 02 Dec high. 20 day EMA, currently at 1.3460, underpins, ahead of static supports at 1.3388 and 1.3365/56, loss of which would delay immediate bulls. Larger timeframe’s outlook is bullish, as 20 day SMA is crossing above 90 day and break above current congestion to signal resumption of broader uptrend.
Res: 1.3485, 1.3500, 1.3547, 1.3567
Sup: 1.3450, 1.3400, 1.3388, 1.3365
GBP/USD
The pair regained strength after yesterday’s renewed attempt lower found ground at 1.5800, previous low, with fresh rally breaking above very strong barrier at 1.5900, 200 day SMA / last Friday’s high and previous peak of 08 Feb at 1.5926. This may signal fresh bull-phase, as price breaks above one-month 1.5900/1.5650 range and expose upside targets at 1.6000, round figure resistance and 1.6090/1.6129, 14 / 08 Nov 2011 highs, ahead of key medium-term barrier at 1.6164, 31 Oct 2011 peak. Daily studies are positive, while overbought hourly conditions see potential for corrective pullback, before fresh rally. Previous high at 1.5900 offers initial support, where also 20 day EMA lies, with reversal above 1.5850 required to keep bulls intact.
Res: 1.5937, 1.5950, 1.5989, 1.6000
Sup: 1.5900, 1.5871, 1.5865, 1.5850
USD/JPY
Remains in defensive, following pullback off the latest high at 81.65, posted on 27 Feb, with downside protected for now at 80.00, yesterday’s low. Upside attempts, however, remain capped by hourly Ichimoku cloud base at 80.70 zone, keeping the downside still vulnerable, along with weak hourly studies that hold below their midlines. Break above 80.68/77, previous highs and figure resistance at 81.00 is required to turn focus higher and open 81.65 peak for retest. Otherwise, risk is seen towards 80.00 base, loss of which to trigger further correction and expose 79.50 and 79.00 supports.
Res: 80.68, 80.77, 81.00, 81.24
Sup: 80.24, 80.00, 79.84, 79.50
USD/CHF
Near-term negative tone after upside rejection at 0.9000 barrier, continues to pressure, as price action holding just above last Friday’s high at 0.8929. Bounces higher are seen corrective, while below 0.9000, as larger timeframes show bears fully in play. Loss of 0.8929/00 handles to open way towards 200 day SMA and Fibonacci 61.8 expansion at 0.8765. Only lift above 0.9000 would delay for possible extension towards another strong barriers at 0.9070/0.9100 zone.
Res: 0.9000, 0.9009, 0.9025, 0.9063
Sup: 0.8934, 0.8929, 0.8900, 0.8850