Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 67
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro came under pressure at the beginning of the week, as last Friday’s bounces failed to sustain gains above the bear-trendline off 1.3170 high and failed to regain 1.3080/1.3100 breakpoints. Fresh weakness brings the pair in the red territorry and just above the downtrend’s low at 1.2919, posted last week. Negative 1 and 4h chart studies keep the downside favored, as the price breaks below 4h 55 day EMA at 1.2955, where hourly 10 day EMA keeps the upside limited. Clearance of 1.2919, also Fib 38.2% of larger 1.2500/1.3170 upleg, is seen as a trigger for fresh weakness, with 1.2900 and 1.2850 to come in focus on a break. Initial resistance lies at 1.3000, ahead of Friday’s peaks at 1.3040/50 zone, while any change of direction requires break above 1.3080/1.3100 barriers.
Res: 1.2953, 1.2980, 1.3000, 1.3047
Sup: 1.2926, 1.2919, 1.2900, 1.2855
GBP/USD
The pair failed to capitalize last Friday’s break above key 1.6300 barrier, as fresh weakness followed two unsuccessful attempts higher. With nearly 76.4% of initial 1.6162/1.6308 upleg being erased, as the price briefly dipped below 1.6200 handles, more weakness is seen in the near-term action. Hourly studies moved in the negative territory and 10 day EMA, crossing below 55 and 20 day ones, maintaining the downside pressure. Sustained break below important 1.6200, also 4h cloud top, to open key near-term support at 1.6162, 20 Sep low, loss of which would open way for extension towards 1.6100 and 1.6074. Any bounce would face good barrier at 1.6260/70 zone and only break here would ease bear-pressure.
Res: 1.6240, 1.6258, 1.6266, 1.6294
Sup: 1.6200, 1.6185, 1.6162, 1.6100
USD/JPY
The pair’s near-term sideways movement, turns the sentiment more negative, as the price, unable to lift above range top at 78.36, attacks the base at 78.00. Hourly indicators are in negative mode, though still moving sideways, while more negative tone is seen on 4h chart, as indicators are in the negative territorry and 20/55 day EMA’s bearish crossover, keeps the downside pressure. Break below 78.00 base to open way for retest of key supports at 77.12/00, as any corrective action faces good barriers at 78.36/55 and only clearance of the latter to provide near-term relief.
Res: 78.27, 78.36, 78.45, 78.55
Sup: 78.00, 77.92, 77.50, 77.12
USD/CHF
The pair regains ground, following last Friday’s congestion, as the price found support just above bull-trendline off 0.9237 low. Lift above previous high at 0.9354, sees potential for fresh recovery, with Fibonacci 38.2% of 0.9577/0.9237, seen as last obstacle on the way towards key near-term barrier at 0.9400 zone, previous high and 200 day MA. Holding above psychological 0.9300 support is required to keep near-term bulls in play.
Res: 0.9364, 0.9400, 0.9416, 0.9432
Sup: 0.9338, 0.9313, 0.9300, 0.9283
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair continues to trend lower, with marginally fresh low posted this morning at 1.2886, following brief 1.2890/1.2952 corrective rally that was capped by 55 day EMA. Loss of momentum, accompanied with negative hourly studies, keeps the downside favored, as 10/20 day EMA bearish crossover pressures. Immediate downside targets lie at 1.2864/54, 4h Ichimoku cloud base / 13 Sep low and 1.2835, 50% of 1.2500/1.3170, ahead of 1.2826/00, 200 day MA / broken med-term bear-trendline off 1.3485, annual high, as break here would confirm top and signal further retracement of 1.2042/1.3170 corrective rally. Overnight’s high at 1.2952, reinforced by 55 day EMA, offers initial resistance, while only regain of 1.3000 handle would delay bears.
Res: 1.2939, 1.2952, 1.2971, 1.3000
Sup: 1.2886, 1.2854, 1.2835, 1.2826
GBP/USD
Near-term price action remains well supported, despite yesterday’s dip below 1.6200 handle that was contained by 55 day EMA and above important 1.6162 support. The current movements could be described as sideways and consolidating, following brief probe above 1.6300 barrier. With hourly studies in a rather neutral mode and 4h ones slightly aligned to the downside, the most significant picture is on the daily chart. With studies showing signs of fatigue and being well in the overbought zone, as well as double doji candle, could be seen as signals of stronger reversal. Break below initial 1.6162 support is seen as a trigger, with 1.6100, also Fib 38.2% of 1.5769/1.6308, to come in focus on a break. Conversely, lift above 1.6308 to possibly signal a resumption of broader uptrend and break above long-term 1.5300/1.6300 congestion.
Res: 1.6242, 1.6258, 1.6294, 1.6308
Sup: 1.6200, 1.6180, 1.6162, 1.6130
USD/JPY
The pair’s break and close below important 78.00 support, signals further extension of near-term downtrend from 79.21, 19 Sep high. As near-term studies stand well in the negative territory and ma’s maintaining downward move, focus comes to the next support at 77.62, Fib 76.4% of 77.12/79.21 upleg, loss of which to expose key levels at 77.12 and 77.00. On the upside, previous support at 78.00, now acts as initial resistance, while only regain of 78.36, previous range top, would provide near-term relief.
Res: 77.90, 78.00, 78.27, 78.36
Sup: 77.73, 77.62, 77.45, 77.12
USD/CHF
The pair extends near-term recovery off 0.9237 low, as break above initial barriers at 0.9254/64, 20 Sep high / Fib 38.2% of 0.9577/0.9237, opened way towards key near-term resistance and pivotal point at 0.9400/16, where 200 day MA / 50% retracement and 13 Sep high lie. Rally was interrupted by brief 0.9390/50 correction. Positive near-term studies remain supportive, with break above 0.9400/16, required to resume recovery towards 0.9447, 61.8% and 0.9482, 10 Sep high. Initial support lies at overnight’s low at 0.9340, reinforced by 55 day EMA, ahead of 0.9329 and 0.9300, loss of which would delay near-term bulls.
Res: 0.9390, 0.9400, 0.9416, 0.9432
Sup: 0.9354, 0.9340, 0.9329, 0.9300
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains at the back foot, as overnight’s price action steadies below 1.2900 handle. With yesterday’s corrective bounce being capped at initial 1.2970 barrier and pivotal 1.3000 point staying out of reach, more downside pressure is seen in the near-term. Negative tone on near-term studies, accompanied with widening Bollingers, focuses 1.2835/25, 50% retracement of 1.2500/1.3170 / 200 day MA and 1.2800/ broken bear-trendline / round figure support. Daily indicators in descending mode, confirm the negative outlook. Initial resistance lies at 1.2900, with yesterday’s high at 1.2970, also 20/55 day EMA’s bearish crossover, expected to cap.
Res: 1.2886, 1.2900, 1.2911, 1.2952
Sup: 1.2854, 1.2835, 1.2826, 1.2800
GBP/USD
The near-term outlook turns more negative, as the price loses ground, with lower boundaries of recent consolidation, coming under pressure. As hourly studies moved well into the negative territory and initial support at 1.6162 being dented, clear break here, also marking the neckline of H&S pattern, shown on 4h chart, would be a trigger for stronger corrective action. Immediate downside targets lie at 1.6130, 12 Sep high and 1.6100, round figure / Fib 38.2% of 1.5769/1.6308 upleg / 4f Ichimoku cloud base. Figure resistance at 1.6200 comes first, while only regain of 1.6265, yesterday’s highs, would improve near-term structure.
Res: 1.6181, 1.6200, 1.6242, 1.6265
Sup: 1.6148, 1.6130, 1.6100, 1.6074
USD/JPY
Fresh consolidative phase at 77.70 zone, followed recent break below strong 78.00 support. Hourly structure is in negative/neutral mode, while larger picture’s bears remain in play, with 20 day EMA on 4h chart, maintain downtrend at 78.00 zone. Initial targets remain at 77.12/00, with minor correction seen capped at 78.60 area. Key barriers lie at 79.00/30 zone.
Res: 77.80, 78.00, 78.27, 78.36
Sup: 77.65, 77.45, 77.12, 77.00
USD/CHF
The pair extends near-term recovery off 0.9237 low, following 0.9390/26 corrective phase, attacking important 0.9400 resistance zone. A cluster of barriers, starting from figure resistance, 200 day MA via 50% retracement (0.9407) and previous high (0.9416), seen as pivotal point for further retracement of larger retracement, with 0.9447 (Fib 61.8%) and 0.9500, seen on a break. Initial support lies at 0.9350 zone, while only break below 0.9326, would weaken near-term tone.
Res: 0.9400, 0.9407, 0.9416, 0.9432
Sup: 0.9377, 0.9366, 0.9354, 0.9340
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro enters near-term corrective action after bears find temporary support at 1.2834, just above 200 day MA at 1.2824. As gains were limited by 20 day EMA at 1.2900 zone, with indicators on lower timeframes still holding in the negative territory, not much of recovery to be expected, unless break above trendline resistance at 1.2924, also near Fib 38.2% of 1.3047/1.2834 occurs. Regain of key near-term barrier at 1.2970, 25 Sep high / Fib 61.8%, is required to signal near-term bottom and provide relief. Conversely, any reversal below here would signal a lower top and fresh leg lower, with near-term targets at 1.2824, 200 day MA and 1.2780, bull trendline off 1.2254 being in focus.
Res: 1.2900, 1.2911, 1.2924, 1.2940
Sup: 1.2865, 1.2834, 1.2824, 1.2800
GBP/USD
Cable finds near-term support at 1.6136, as subsequent bounce regains initial 1.6200 barrier. Improved hourly conditions see scope for fresh recovery, however, clearance of 1.6220/30 breakpoint, trendline resistance and 50% of 1.6308/1.6136, is required to confirm recovery and turn near-term focus higher. Otherwise, risk of lower top and fresh weakness will exist, as 4h chart studies remain weak.
Res: 1.6204, 1.6222, 1.6231, 1.6265
Sup: 1.6175, 1.6148, 1.6136, 1.6100
USD/JPY
The pair’s near-term structure remains weak, despite bounce of yesterday’s low at 77.58, provided temporary relief, with gains being capped at initial 77.90 barrier. Overall negative sentiment does not see much potential for stronger recovery, unless clear break above 78.00 occurs. On the downside, loss of 77.58 support, will focus our near-term targets at 77.12/00.
Res: 77.75, 77.90, 78.00, 78.27
Sup: 77.62, 77.58, 77.45, 77.12
USD/CHF
The pair eases lower following attack and brief break above important 0.9400 zone. As expected, the barrier proved to be tough for the first attempt break. Dips have so bar been contained at 0.9360 zone, 20 day EMA, however, weakening hourly studies do not rule out further extension, with reversal ideally to occur above .0.9326, 25 Sep higher low, otherwise, near-term bulls would be delayed in favor of stronger correction.
Res: 0.9400, 0.9416, 0.9432, 0.9447
Sup: 0.9379, 0.9360, 0.9340, 0.9326
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency starts the week with negative sentiment, as failure to sustain recent recovery and regain initial barrier at 1.2970, resulted in fresh slide under 1.2900, figure support. Weekly close below 1.2900 and extension to 1.2800, with 200 day MA and bull trendline support being penetrated, turns near-term outlook more negative and sees potential for further retracement of 1.2042/1.3170, July/Sep rally. Bounce on oversold hourly conditions, approaching 1.2900 barrier, is for now seen as corrective, as long as initial 1.2970 resistance stays intact. Only break here and psychological 1.3000 would provide relief. On the downside, 1.2820/00 zone offers strong support, break of which to open 1.2740 zone, mid-June highs / Fib 38.2% of 1.2042/1.3170. Daily close below 200 day MA is required to confirm negative near-term stance.
Res: 1.2880, 1.2900, 1.2926, 1.2958
Sup: 1.2860, 1.2828, 1.2800, 1.2740
GBP/USD
Cable breaks below near-term consolidative range as renewed attempt towards key 1.6300 barrier failed. Losses accelerated on a break below 1.6200, clearing previous support at 1.6136, to approach psychological 1.6100, also Fib 38.2% of 1.5769/1.6308 ascend. With 1.6200 zone offering good resistance and near-term studies in the negative territory, more focus is seen towards 1.6100 and 1.6077, trendline support initially.
Res: 1.6162, 1.6181, 1.6200, 1.6216
Sup: 1.6128, 1.6107, 1.6100, 1.6077
USD/JPY
Last Friday’s strong rally that regained initial 78.00 barrier, provided near-term relief and keeps the pair away from dangerous 77.00 zone. Overnight’s easing to 77.80, where 55 day EMA contained losses, is for now seen as corrective, with improving conditions on 4h chart, seeing potential for further recovery. Clearance of initial barrier at 78.10, last Friday’s high and Fib 38.2% of 79.21/77.42 descend, is required for further extension higher, with 78.31/53, 50% / 61.8%, seen as next targets. However, larger picture still keeps negative tone and as long as key near-term barriers at 79.00/30 zone stay intact, downside remains vulnerable.
Res: 78.00, 78.10, 78.31, 78.53
Sup: 77.78, 77.68, 77.42, 77.12
USD/CHF
The pair reverses from session’s fresh high at 0.9436, following brief break above important 0.9400 resistance zone, as hourly studies entered overbought territory. Near-term bulls remain in play while above trendline support at 0.9350, however, weakening hourly studies and loss of bullish momentum, see risk of further weakness, with break below 0.9350 and higher low at 0.9436, to sideline bulls. On the upside, 0.9400/36, offer initial resistance, with break above the latter to resume near-term recovery and open 0.9447 and 0.9482.
Res: 0.9400, 0.9416, 0.9436, 0.9447
Sup: 0.9373, 0.9350, 0.9334, 0.9326
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro holds steady around 1.2900 handle, after regaining ground at psychological 1.2800 support. Yesterday’s rally that hit 1.2937, failed to regain 1.2970 breakpoint, however, possibility of fresh rally exists, as hourly studies keep positive tone and dips being contained just under 1.2900, overnight. Larger picture, from the other side, remains aligned towards the downside, as steady downtrend of corrective pullback off 1.3170, hasn’t ended yet. Near-term price action is now entrenched within 1.2800, where 200 day MA holds the downside for now and important 1.2970/1.3000 barriers that are seen capping for now. Immediate barrier, triangle resistance at 1.2900 that keeps the upside limited for now, comes under pressure, with break here required to open way towards the upper barriers, while loss of session lows at 1.2880 zone, would weaken the near-term tone.
Res: 1.2916, 1.2937, 1.2958, 1.2970
Sup: 1.2896, 1.2875, 1.2837, 1.2822
GBP/USD
Cable’s near-term price action moves within 1.6100/75 consolidative range, following sharp fall from 1.6271, last Friday’s rejection that found footstep at psychological 1.6100 level. Near-term studies remain negative, with formation of double-top at 1.6270 zone and price being capped at important 1.6175 barrier, keeping the downside vulnerable. Loss of 1.6100, Fib 38.2% of 1.5769/1.6308 / bull trendline off 1.5489 low, is seen as a trigger for further retracement of 1.5769/1.6308 upleg, with 1.6074, 13 Sep low and 1.6035 zone, 07 Sep high / 50% retracement, seen as next downside target. On the upside, break above 1.6175/1.6200, yesterday’s high / Ichimoku 4h cloud base, is required to improve near-term structure.
Res: 1.6162, 1.6175, 1.6200, 1.6216
Sup: 1.6120, 1.6107, 1.6100, 1.6074
USD/JPY
The pair holds near-term positive tone, as rebound from last Friday’s low at 77.42, extends gains and briefly breaks above previous high at 78.10, after corrective dip found support at 78.80. As 4h chart studies break above midlines, prospect for further recovery still exists, with 78.31/53, Fib 38.2% and 50%, seen as next upside barriers. Only loss of 77.80, would weaken the near-term structure and re-focus recent lows.
Res: 78.14, 78.31, 78.53, 78.65
Sup: 78.00, 77.78, 77.68, 77.42
USD/CHF
Near-term bulls off 0.9237, 14 Sep low, come under pressure, as upside rejection at 0.9436, following break above important 0.9400 resistance zone, triggered fresh slide to 0.9350, yesterday’s low. With brief recovery attempt being capped under 0.9400, by 55 day EMA and near-term studies being weak, more focus is seen towards the downside in the near-term Immediate support, bull trendline off 0.9237, is now under pressure, as break here and 0.9350 would be a trigger for fresh weakness towards 0.9330 breakpoint. Alternative scenario requires break above 0.9400 to turn near-term focus towards the upside barriers.
Res: 0.9387, 0.9400, 0.9416, 0.9436
Sup: 0.9363, 0.9350, 0.9334, 0.9326
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Yesterday’s repeated upside rejection at 1.2966, proves that this barrier is tough and the pair lacks momentum for push higher. With subsequent reversal and slide below 1.2900, confirming near-term range trading within 1.2800 and 1.2970, risk-off mode is being established again. Near-term studies remain weak, with the latest reversal retracing 50% of two-day 1.2800/1.2966 rally, focus comes on 1.2875/65 support zone, higher platform / Fib 61.8% / bull trendline, loss of which to possibly attract 200 day MA at 1.2820 and range floor at 1.2800.
Res: 1.2900, 1.2937, 1.2966, 1.2970
Sup: 1.2883, 1.2875, 1.2865, 1.2820
GBP/USD
The pair comes under increased pressure, as brief break above 1.6175 barrier failed to regain 1.6200 handle. Quick reversal and close below 1.6175, shifted near-term focus to the lower boundary of near-term range at 1.6100, with trendline support at 1.6125 being already lost. Break below 1.6100, also Fib 38.2% of 1.5769/1.6308 and 1.6074, 13 Sep low, to trigger fresh extension of corrective pullback from 1.6308, with 1.6035, 07 Sep high / 50% retracement and 1.6000, psychological level, expected to come in focus. Negative near-term studies remain supportive for such scenario.
Res: 1.6168, 1.6175, 1.6200, 1.6216
Sup: 1.6100, 1.6074, 1.6035, 1.6000
USD/JPY
The pair continues to post marginally higher highs and higher lows, marking the near-term uptrend off 77.42 low. With the latest high at 78.29 and yesterday’s close above 78.00 handle, positive sentiment keeps near-term focus at the upside. Immediate targets lie at 78.36, 21 Sep high / daily 55 day MA and 78.53, Fib 61.8%, break of which to open way towards key near-term barriers at 79.00/30 zone. Bullish 20/55 day EMA’s crossover at 78.00, underpins near-term action.
Res: 78.36, 78.53, 78.78, 79.00
Sup: 78.10, 78.00, 77.78, 77.68
USD/CHF
The pair regains ground, as the second leg of reversal from 0.9436, 01 Oct high, penetrated bull trendline and previous low at 0.9360/50, to find support at 0.9330, near-term higher base. As the bounce attempts at important 0.9387/0.9400 barrier and near-term indicators returning to the positive territory, focus turns higher. However, clear break and close above 0.9400 is required to re-attract 0.9436 barrier, for possible extension of near-term uptrend from 0.9237. On the downside, loss of important 0.9330 and 0.9300 supports will bring bears back in play.
Res: 0.9387, 0.9400, 0.9416, 0.9436
Sup: 0.9367, 0.9350, 0.9331, 0.9326
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains directionless, moving within narrowed 1.2875/1.2940 range, awaiting today’s data. Larger range top at 1.2870, along with psychological 1.3000 barrier, also 4h Ichimoku cloud top, is seen as an upside trigger for fresh bulls. Otherwise, loss of range floor and trendline support at 1.2875 would expose more significant 1.2820, 200 day MA and 1.2800, 01 Oct low, with break of either side, to define near-term direction.
Res: 1.2938, 1.2966, 1.2970, 1.3000
Sup: 1.2900, 1.2886, 1.2875, 1.2865
GBP/USD
The pair remain under pressure, following break below 1.6125/00 bull trendline /near-term base and psychological support, that triggered fresh losses to 1.6066, breaking below our initial target at 1.6074, 13 Sep low. As recovery bounce stays capped at 1.6100 for now and near-term studies holding in the negative territory, fresh losses could be anticipated, 1.6160/75 pivotal zone stays intact. Main downside targets lie at 1.6035/00 zone, 07 Sep high / 50% retracement of 1.5769/1.6308 / round figure support.
Res: 1.6105, 1.6125, 1.6141, 1.6175
Sup: 1.6083, 1.6066, 1.6035, 1.6000
USD/JPY
Regain of important 78.50 barrier and yesterday’s close at this level, signals further extension of near-term rally, as the pair rallied to a fresh session high at 78.71 overnight. Positive sentiment keeps the upside favored, with key barriers at 79.00, psychological and 79.21/30, 19 Sep high / daily Ichimoku cloud top / 200 day MA, coming in near-term focus. However, gain s may be interrupted by corrective pullback, as near-term indicators enter overbought zone. Any dips should ideally be contained at 78.40/30 zone, while only loss of psychological 78.00 support and 02 Oct low, would soften the structure.
Res: 78.71, 78.78, 79.00, 79.21
Sup: 78.41, 78.29, 78.10, 78.00
USD/CHF
Near-term price action remains capped by 0.9400 barrier, round figure and 200 day MA, with choppy trading within narrowed 0.9365/90 range, sees the near-term action in a directionless mode. As the price holds below main bull-trendline off 0.9237 low, has already been dented and yesterday’s close occurred below 0.9400, further weakness looks more likely. Loss of 0.9330 higher base is required t confirm bearish stance.. Conversely, lift above initial 0.9400 barrier, is seen as spark for fresh rally and possible test of 0.9436, 01 Oct fresh 3-week high.
Res: 0.9390, 0.9400, 0.9416, 0.9436
Sup: 0.9366, 0.9353, 0.9331, 0.9326
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro starts the week at the back foot, following easing off last Friday’s fresh high at 1.3070. Despite weekly close above 1.3000, the pair failed to sustain gains, as more negative sentiment came on a thin-volume Asian trading, sending the single currency below 1.3000 handle. Hourly studies turned negative, with price approaching strong support at 1.2970, previous peak of 02 Oct and Fib 38.2% of 1.2800/1.3070 ascend, reinforced by bull trendline off 1.2800. As indicators on 4h chart are descending and price below hourly MA’s (10/20), immediate risk is seen on a break below 1.2970 that would open way for further retracement, with next support at 1.2940 zone, 50% / 4h Ichimoku cloud top / 55 day EMA. As the risk of lower top at 1.3070 becomes more evident, failure to reverse at 1.2970 or 1.2940, would spark fresh weakness and expose 1.2900, figure support / 61.8% retracement, loss of which to confirm lower top and shift near-term focus towards 1.2800 base. Alternative scenario sees reversal, ideally at/above 1.2970 that will keep near-term bulls in play for fresh attempt at upper barriers.
Res: 1.2992, 1.3000, 1.3030, 1.3070
Sup: 1.2970, 1.2940, 1.2900, 1.2875
GBP/USD
Cable’s last week’s fresh gains and brief break above 1.6200 barrier were short-lived, as the price sharply fell on Friday’s late hours and extended weakness at the beginning of the week, losing another psychological support at 1.6100. Upside rejection at 1.6216, just under bear-trendline at 1.6235 and fresh weakness that reached 1.6080 so far, keep the near-term bears off 1.6308 in play, with loss of 1.6066, 03 Oct low and immediate target, seen as confirmation of lower top. With 4h chart indicators entering negative territory, downside remains in focus, as loss of 1.6066 to open 1.6035, previous high / 50% of 1.5753/1.6308 and 1.6000, figure support. Bears may be delayed by brief corrective action on oversold hourly conditions, however, no reversal signal have been generated yet.
Res: 1.6100, 1.6114, 1.6140, 1.6172
Sup: 1.6080, 1.6066, 1.6035, 1.6000
USD/JPY
The pair remains under pressure after last Friday’s strong rally that stalled on approach to psychological 79.00 barrier and capped by daily cloud base. Subsequent easing has so far found footstep at 78.50, previous high and 55 day EMA, however, weak tone on hourly chart studies and price holding below 10/20 day EMA’s, sees the downside still vulnerable. Loss of 78.50 handle would indicate further easing, with 78.30 and key near-term and psychological support at 78.00. Conversely, regain of 78.75, as initial barrier, would improve the tone, but any failure under 79.00 would keep bears in play.
Res: 78.75, 78.86, 79.00, 79.21
Sup: 78.50, 78.30, 78.10, 78.00
USD/CHF
The pair recovers a part of last week’s losses that dipped to 0.9273, where temporary ground was found. Improvement on hourly studies sees prospect for further recovery, as the price stays above MA’s and indicators break above their midlines. However, 4h chart studies are pointing higher but still in the negative zone, with strong barrier at 0.9350, 55 day EMA / 4h Ichimoku cloud base, break of which is required to keep near-term positive sentiment for possible attempt towards key hurdle at 0.9400, 200 day MA / psychological resistance. Immediate supports lie at 0.9322 and 0.9300, with loss of the latter to bring bears back in play.
Res: 0.9350, 0.9390, 0.9400, 0.9436
Sup: 0.9322, 0.9300, 0.9273, 0.9237
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro approaches moth’s lows, as negative sentiment keeps bears in play. Fresh weakness off yesterday’s upside rejection at 1.2990, breached important 1.2900, figure / trendline support and reached levels close key support zone at 1.2820, 200 day MA and 1.2800, figure support, 01 Oct low. Negative studies on lower timeframes see test of 1.2820/00 favored, however, corrective action on overextended hourlies is not ruled out, with 1.2885/1.2900 barriers seen capping bounces. Only break above 1.2900 and bear-trendline at 1.2940, would improve near-term picture. On the downside, loss of 1.2800 handle is seen as a trigger for stronger correction of 1.2042/1.3170 ascend, with 1.2745, previous high and Fibonacci support, seen as next target.
Res: 1.2885, 1.2900, 1.2940, 1.2960
Sup: 1.2834, 1.2820, 1.2800, 1.2745
GBP/USD
Near-term downtrend from 1.6308 peak remains unobstructed, as the pair accelerated losses through 1.6066 and broke below psychological 1.6000 support, also near Fib 61.8% of 1.5753/1.6308 upleg. Brief consolidation under the latter is seen preceding fresh weakness that would look for test of 1.5900 zone 23 Aug high / Fib 38.2% of 1.5267/1.6308 / daily 55 day MA. Corrective bounces face solid barriers at 1.6066, previous support / Fib 38.2% of 1.6216/1.5975 downleg and 1.6100, 50% retracement and only break here would delay bears in favor of stronger correction.
Res: 1.6000, 1.6045, 1.6066, 1.6100
Sup: 1.5975, 1.5958, 1.5910, 1.5900
USD/JPY
Negative tone continues to dominate in the near-term outlook, despite the pair started to move sideways. Range floor and strong support at78.00 holds the downside, while upside stays limited by descending 55 day EMA, approx 38.2% of 78.86/78.07 downleg at 78.40. Break here and above 78.60, to re-focus upper barriers at 78.86 and 79.00, ahead of key hurdles at 79.21/32. Otherwise, slide through pivotal 78.00, would spark fresh weakness and re-open 77.42 and 77.12 lows.
Res: 78.34, 78.40, 78.59, 78.75
Sup: 78.14, 78.07, 78.00, 77.78
USD/CHF
The pair cracks key resistance zone at 0.9400/36, 200 day MA / 01 Oct top, on its near-term rally from 0.9273, with 0.9430 seen so far and yesterday’s close at 0.9400. Clear break here is required to signal near-term base and allow for stronger recovery of larger 0.9970/0.9237 descend. With positive near-term studies, upside remains in focus, however, gains may be interrupted by corrective easing on overbought hourly studies, with ideal reversal seen at 0.9370 zone. Increased risk will be seen on downside extension below 0.9320, 08 Oct higher platform / near 61.8% of 0.9273/0.9430 upleg..
Res: 0.9430, 0.9436, 0.9461, 0.9500
Sup: 0.9395, 0.9383, 0.9370, 0.9350