Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 68
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 (07:00 GMT)
[EUR/USD
The Euro dipped to a fresh low at 1.2825, just ahead of 200 day MA, following yesterday’s rejection at 1.2900. Overall negative tone, with additional pressure seen on a break below 1.2500/1.2802 bull trendline keeps near-term focus at key 1.2820/00 support zone, below which is expected to spark fresh weakness towards 1.2745/00. Corrective action is not ruled out as 1.2800 zone offers strong support and hourly MACD bullish divergence becomes evident, with initial barriers at 1.2900/10, trendline resistance / yesterday’s high, above which would delay immediate bears. Only reclaim of 1.2975/1.3000 barriers would shift near-term focus towards the upside targets.
Res: 1.2875, 1.2900, 1.2910, 1.2920
Sup: 1.2825, 1.2820, 1.2800, 1.2745
GBP/USD
The pair remains in near-term consolidative sideways mode, off fresh one-month low at 1.5975, with daily Doji candle, confirming near-term indecision. Brief break above 1.6000 handle, still lacks momentum to sustain gains, with hourly studies being neutral. Initial upside signal is given by 4h studies that started to point higher, however, break above minimum 1.6045, range top is required to open way for stronger recovery. Otherwise, fresh extension of near-term downtrend from 1.6308, with 1.5900 seen as next target, would be the likely scenario.
Res: 1.6033, 1.6045, 1.6066, 1.6100
Sup: 1.5983, 1.5975, 1.5958, 1.5910
USD/JPY
The pair loses ground again, after brief consolidation above 78.07, previous low, failed to break above 78.40, range top and yesterday’s close below range floor, with fresh weakness now testing levels below pivotal 78.00 support. Negative near-term tone focuses initial support at 77.80, ahead of possible extension lower to open 77.42, 28 Sep low and signal possible full retracement of 77.12/78.86 rally. On the upside, regain of initial barrier at 78.40, would provide relief.
Res: 78.07, 78.14, 78.40, 78.59
Sup: 77.94, 77.78, 77.42, 77.12
USD/CHF
The pair remains congested at 0.9400 zone, following recent attempt through 0.9400/36 barriers that peaked at 0.9430, as subsequent reversal found support at 0.9370, Fib 38.2% of 0.9273/0.9330 upleg / 55 day EMA. Neutral hourly studies and positive tone seen on 4h chart, see more potential towards the upside barriers, however, clear break above 0.9400, 200 day MA and 0.9430/36, is required to confirm bulls for fresh extension of broader recovery rally from 0.9273. Conversely, loss of 0.9370, would risk extension towards 0.9350, 50% and 0.9330, 61.8% retracement of 0.9273/0.9430 upleg.
Res: 0.9417, 0.9430, 0.9436, 0.9461
Sup: 0.9385, 0.9370, 0.9350, 0.9320
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro returns to strength after finding ground at 1.2900 zone yesterday, with psychological 1.3000 barrier, coming under pressure. However, sideways consolidation still keeps the price within 1.2800/1.3070 range, as yesterday’s Doji candle signals lack of direction. Break above cluster of barriers at 1.3000; 1.3025, trendline resistance and upper range boundary at 1.3070, is required to turn focus higher, otherwise, upside rejection would risk slide towards 1.2930, trendline support and 1.2900 higher low, with return towards strong 1.2820/00 support not ruled out on break lower. Hourly structure remains positive, while 4h chart indicators start to point higher, with lift above initial 1.3000/25 required to confirm near-term bullish stance.
Res: 1.3000, 1.3025, 1.3047, 1.3070
Sup: 1.2952, 1.2930, 1.2900, 1.2890
GBP/USD
Cable’s fresh strength off 1.6020 higher base, approaches pivotal 1.6100 point, as a part of larger recovery from 1.5975, 10 Oct low. Positive hourly studies are supportive for possible break higher, however, appearance of Doji candle, may question current rally, as 4h chart outlook still lacks direction and sees risk of further congestion between 1.6000 and 1.6100. From the other side, break above 1.6100 and Fib 61.8% of 1.6216/1.5975 at 1.6124, would confirm near-term bulls and open way for possible extension towards the next significant barriers at 1.6200 zone.
Res: 1.6090, 1.6100, 1.6124, 1.6150
Sup: 1.6059, 1.6042, 1.6020, 1.6000
USD/JPY
Positive sentiment, established on a bounce from 78.00 base, approaches important barrier at 79.00, round figure resistance / daily Ichimoku cloud top, break of which is required to open 79.21/37, 19 Sep high / 200 day MA and confirm near-term base on a break. Positive tone dominates on near-term studies, however, overbought hourly conditions signal corrective action preceding fresh strength. Dips should be ideally contained at 78.50 zone, otherwise, further easing towards 78.30, strong support, would put near-term bulls on hold.
Res: 78.92, 79.00, 79.21, 79.37
Sup: 78.62, 78.50, 78.30, 78.26
USD/CHF
The pair comes under increased pressure, as recovery attempt from 0.9304, last Friday’s low, stalls at 0.9370, leaving a double-top top, ahead of fresh weakness. Brief break below psychological 0.9300 support, increases risk of slide through 0.9273, 05 Oct low, to focus key near-term support at 0.9237, 14 Sep low and confirm daily double-top pattern at 0.9430 zone that will signal further extension of larger downtrend from 0.9970.
Res: 0.9342, 0.9370, 0.9400, 0.9430
Sup: 0.9293, 0.9273, 0.9237, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro extends its latest upleg from 1.2900, as penetration through initial 1.3000 barrier triggered fresh strength that cleared 1.3070, 05 Oct high and figure resistance at 1.3100. Immediate focus now turns towards September’s double-top at 1.3170, break of which to confirm higher base and double-bottom at 1.2800 zone and signal resumption of broader uptrend from 1.2042, 24 July low, towards psychological 1.3200 barrier. Near-term bullish structure remains intact, however, corrective pullback on overbought hourlies cannot be ruled out. Immediate supports lie atb1.3085/60 zone, ahead of 1.3030 and 1.3000 that should contain any stronger dips.
Res: 1.3122, 1.3170, 1.3180, 1.3200
Sup: 1.3085, 1.3060, 1.3030, 1.3014
GBP/USD
Cable’s rallied through important 1.6100/24 barriers, bringing near-term bulls that were interrupted by 1.6100/1.6020 pullback, back to play. Clearance of Fibonacci barrier at 1.6124 now opens way towards trendline resistance at 1.6175 and Fib 61.8% of 1.6308/1.5975, break of which to focus more significant 1.6200/16 zone, round figure resistance / 05 Oct lower top. Positive near-term structure supports the notion, with immediate support at 1.6100, reinforced by 55 day EMA.
Res: 1.6140, 1.6175, 1.6180, 1.6200
Sup: 1.6115, 1.6100, 1.6090, 1.6059
USD/JPY
The pair falls to approx 38.2% of 77.94/78.96 rally, following failure to clear important 79.00 barrier and reversal being signaled by hourly MACD bearish divergence. Hourly studies moved into negative territory, but overall bullish structure remains intact for now. However, break above 79.00 is required to resume rally for test of key barriers at 79.21/37, 19 Sep high / 200 day MA. Conversely, slide below78.60 breakpoint would sideline near-term bulls and allow for stronger correction towards 78.45 and 78.30/25, Fib 61.8% / higher platform.
Res: 78.90, 79.00, 79.21, 79.37
Sup: 78.60, 78.45, 78.30, 78.26
USD/CHF
Bears remain fully in play, as the price slides below key near-term support at 0.9237, with fresh extension lower confirming double-top pattern and opening way for further bearish action. Psychological support at 0.9200 comes under pressure, with brief consolidation on overextended hourly studies seen so far. Gains stay limited at previous low and 20 day EMA, with any stronger bounce expected to be capped at 0.9273, previous low / Fib 38.2% of 0.9370/0.9214 slide. Only break above 0.9300 would provide relief. On the downside, break below 0.9200 would risk full retracement of 0.9041/0.9970 ascend in the near-term.
Res: 0.9246, 0.9273, 0.9292, 0.9310
Sup: 0.9214, 0.9200, 0.9113, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency maintains positive tone off 1.2800 zone double-bottom, as breach of 1.3070/1.3100 barriers keeps focus at key resistances at 1.3150, long-term bear-trendline off 1.4938 and 1.3170, 17 Sep high and double-Fibonacci barrier. Further hesitation is not ruled out, as the pair already underwent corrective easing from 1.3138 that was contained at 1.3100 zone for now and deeper dips would risk extension towards 1.3000/1.2975, approx 50% of entire rally. Clear break above 1.3170 would attract 1.3282/1.3300 initially.
Res: 1.3138, 1.3170, 1.3180, 1.3200
Sup: 1.3100, 1.3085, 1.3060, 1.3020
GBP/USD
The near-term uptrend remains in play, as the pair extends gains to test 1.6180, trendline resistance and Fib 61.8% of 1.6216/1.5975 downleg, where gains stalled. Subsequent pullback has so far found footstep at 55 day EMA at 1.6120 zone. Near-term focus remains at the upside barriers, with penetration through 1.6180, expected to open 1.6200/16 and confirm base at 1.5975. Any further easing would face supports at 1.6100/1.6050, Fibonacci support, while extension below 1.6020 would revive larger picture bears.
Res: 1.6180, 1.6200, 1.6216, 1.6271
Sup: 1.6120, 1.6100, 1.6075, 1.6050
USD/JPY
The price surges through 79.00 barrier after leaving a double-bottom at 78.60 zone, to approach initial barrier at 79.21, 19 Sep high and 79.37, 200 day MA. Overall bulls keep the break higher in focus, as the break higher would introduce 79.65 and 80.00 barriers, however, gains may be interrupted, as overextended hourly studies suggest corrective action. Initial support lies at 79.00, while any further extension should be contained at/above 78.60, also near 50% of 77.94/79.19 rally, to keep bullish structure intact.
Res: 79.21, 79.37, 79.65, 80.00
Sup: 79.00, 78.89, 78.60, 78.45
USD/CHF
The pair continues to move sideways, consolidating recent losses that tested psychological 0.9200 support. Overall bears see scope for full retracement of 0.9042/0.9970 rally on a break below 0.9200, as larger picture outlook maintains bears and completion of double-top pattern keeps the downside favored. However, overextended studies on 4h chart and hourlies already moving upward, see potential for stronger corrective action that would precede fresh bears. Previous supports at 0.9237/73, now offer initial resistance, while violation of 0.9300 zone, near Fib 61.8% of 0.9370/0.9213, would ease bear-pressure.
Res: 0.9246, 0.9273, 0.9292, 0.9310
Sup: 0.9214, 0.9200, 0.9113, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro starts the week in a positive mode, recovering a part of losses of a pullback from 1.3138 that found ground at 1.3012. Weekly closure above psychological 1.3000 support keeps overall positive tone. Hourly MACD is approaching the midline, with strong bullish momentum evident, but 4h chart studies are losing traction, as price struggles to clear 20 day EMA at 1.3050. Unless minimum 1.3075, 50% of 1.3138/1.3012 is regained, downside would remain vulnerable, with near-term risk seen on a break below 1.3000, also 55 day EMA that would signal further easing and possibly expose 1.2900 zone. Conversely, strength above 1.3075/1.3100, to open initial 1.3138 barrier, ahead of key one at 1.3170, also near-term range top.
Res: 1.3076, 1.3100, 1.3138, 1.3170
Sup: 1.3010, 1.3000, 1.2990, 1.2970
GBP/USD
Near-term structure remains negative, as the pair suffered heavy losses last week, following upside rejection at 1.6178, trendline resistance, with subsequent sharp fall nearly fully retracing 1.5974/1.6178 recovery rally at 1.5989, overnight’s low. Bounce higher is so far seen corrective, as hourly and 4h studies remain in the negative territory. Extension above 1.6060, last Friday’s highs / Fib 38.2% of 1.6178//1.5989, would provide temporary relief, however, break above 1.6150, trendline resistance and 1.6178, previous top, is required to confirm double-bottom and allow for stronger recovery of broader 1.6308/1.5275 downtrend. Continuation of the downtrend is seen on a break below 1.5974 that will expose another significant support at 1.5900 zone.
Res: 1.6040, 1.6060, 1.6066, 1.6083
Sup: 1.5989, 1.5975, 1.5958, 1.5910
USD/JPY
The week starts with fresh strength, as the price closed above 79.00 support, with rally through 200 day MA / previous high at 79.40/45, now heading towards 80.00, psychological barrier, as interim resistance at 79.65 is penetrated. Positive tone dominates on both, 1 and 4h charts, however, hourly RSI already in overbought zone and overextended 4h chart indicators, suggest that corrective pullback may precede fresh rally, with no clear reversal signal generated yet.
Res: 79.94, 80.00, 80.09, 80.61
Sup: 79.45, 79.40, 79.21, 79.21
USD/CHF
Hourly studies weakened, as the price slides lower, following reversal from 0.9288, peak of recovery rally from 0.9214, 17/18 Oct lows. More negative structure is seen on 4h chart studies, with 55 day EMA capping and price sliding bellow 20 day EMA that increases risk of re-visiting 0.9214 support, loss of which to signal a resumption of broader downtrend from 0.9970, as formation of double-top at 0.9400 zone signal further downside extension.
Res: 0.9288, 0.9292, 0.9310, 0.9350
Sup: 0.9254, 0.9240, 0.9214, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Near-term price action moves in a choppy directionless mode, trading within 1.3000/70 range. Hourly studies show prevailing neutral tone, but loss of momentum may be a signal for revisiting range’s lower boundary, as the price slides below initial support at 1.3040. On 4h chart price breaks below 20 day EMA, with indicators turning lower. With upside being capped by previous high at 1.3070 and good support at 1.3000 zone, Fib 38.2% of 1.2802/1.3138 and 55 day EMA, keeping the downside protected for now, break of either side would give more clear picture of near-term direction. However, overall bulls off 1.2800 higher base and larger uptrend from 1.2042, remain intact for now, with clearance of 1.3138/70 barriers required to resume. Conversely, break below strong support at 1.2800, double-bottom / 200 day MA / main bear trendline off 1.2042, would significantly weaken the structure.
Res: 1.3076, 1.3100, 1.3138, 1.3170
Sup: 1.3023, 1.3012, 1.3000, 1.2990
GBP/USD
Cable’s near-term structure remains negative, as consolidation of the latest sharp fall stalled on approach to the initial resistance at 1.6065, 19 Oct high / Fib 38.2% of 1.6178/1.5989 downleg and subsequent easing struggling to hold above 1.6000 support. Hourly studies remain weak, as the price slides below 10/20 EMA’s, while more negative tone is shown on 4h chart, as indicators hold in the negative territory and price broke below 4h Ichimoku cloud and Tenkan-sen line. This keeps the downside favored in the near-term, also as a part of broader downtrend from 1.6308, with break below 1.6000/1.5975, seen as a trigger for fresh weakness towards 1.5900 zone, 23 Aug high / Fib 38.2% of 1.5267/1.6308 ascend.
Res: 1.6023, 1.6051, 1.6065, 1.6083
Sup: 1.6000, 1.5989, 1.5975, 1.5958
USD/JPY
The pair continues to trend higher, with clearance of last barrier at 79.65, resulted in test of our near-term target and psychological barrier at 80.00. Overall bullish tone keeps the upside favored, however, pause in current rally is likely, as hourly indicators emerge from overbought territory, while overextended 4h chart indicators started to point lower. Immediate supports lie at 79.65 and 79.45, previous highs, with significant support at 79.00, Fib 38.2% of 77.42/80.00, reinforced by ascending 55 day EMA, expected to contain any stronger reversal and keep near-term bulls in play. Upside clearance of 80.00/09, round figure / 05 July high , to open 80.65, 25 June peak / 50% of 84.17/77.12 descend, next.
Res: 80.00, 80.09, 80.65, 81.00
Sup: 79.78, 79.65, 79.45, 79.21
USD/CHF
Hourly studies are showing signs of improvement, as reversal from 0.9288, last Friday’s recovery high, find footstep at 0.9250 zone and fresh strength emerges from there. With fresh momentum on 4h chart and MACD attempting through the midline, immediate scope is seen for test of 0.9288, also 55 day EMA, break of which and 0.9300, Fib 38.2% of 0.9430/0.9213 / main bear-trendline, is required to resume near-term corrective action of the larger downmove from 0.9430 and expose important barriers at 0.9350/70. However, larger picture bears off 0.9970 remain fully in play and regain of minimum 0.9400 barrier would improve the structure.
Res: 0.9288, 0.9292, 0.9310, 0.9350
Sup: 0.9258, 0.9247, 0.9213, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair comes under increased pressure at the beginning of European session, after narrow-range consolidative trading during the Asian session. Extension of weakness from yesterday’s upside rejection at 1.3020 and break below 1.2945, completes hourly head and shoulders pattern, opening prospect for further easing, as price broke below 1.2936, Fib 61.8% of 1.2881/1.3020 upleg / broken channel resistance off 1.3170. As near-term indicators dip into negative territory, bears see immediate target at 1.2900 base, previous lows / daily Ichimoku cloud top, loss of which to confirm double-top at 1.3020 and risk return to very strong support zone at 1.2830/00, also 7-week range floor. Initial resistance lies at 1.2945/50 zone, while only lift above 1.2970/80 would ease bear-pressure.
Res: 1.2945, 1.2950, 1.2969, 1.2982
Sup: 1.2920, 1.2900, 1.2881, 1.2840
GBP/USD
Near-term rally from 1.6005 higher low, has nearly fully retraced 1.6142/1.6005 reversal, as gains reached 1.6138 so far. Near-term bullish structure and positive sentiment, keep the upside favored for now, as price broke above main bear-trendline and emerges above daily Ichimoku cloud. Clearance of 1.6142 is required to resume rally and open next upside targets at 1.6178 and 1.6200. Corrective dips would face good support at 1.6100, Fib 23.6% and ascending 55 day EMA / broken bear-trendline, with possible further easing to be contained at 1.6080 zone, Fib 38.2% / bull-trendline off 1.5911, to keep near-term bulls intact.
Res: 1.6138, 1.6142, 1.6178, 1.6200
Sup: 1.6119, 1.6100, 1.6085, 1.6075
USD/JPY
The pair continues to move higher, after finding ground at 79.27, with steady recovery, moving above important 80.00 barrier, to hit fresh session high at 80.12. Corrective easing is seen on extended hourlies, should ideally be contained at 79.80/70, Fibonacci supports and 55 day EMA, before bulls re-assert for fresh attempt towards initial barrier at 80.37, 26 Oct high. Loss of 79.70, however, would put near-term bulls on hold and risk stronger reversal.
Res: 80.00, 80.13, 80.37, 80.65
Sup: 79.90, 79.80, 79.70, 79.50
USD/CHF
The pair extends near-term recovery off 0.9275, yesterday’s fresh low, where temporary footstep has been found. Bounce off overnight’s consolidation range top at 0.9320, attempts to complete inverted head and shoulders-like shape, with bullish extension retracing so far 61.8% of 0.9380/0.9275 downleg. Hourly studies are in the positive territory, while 4h chart indicators started to point higher, with regain of very important 0.9385, 200 day MA / daily Ichimoku cloud base, seen as a trigger for possible test of 0.9430/36 double-top. Previous resistances at 0.9320/00, now offer initial supports, with potential loss of the latter to revive bears.
Res: 0.9339, 0.9350, 0.9373, 0.9385
Sup: 0.9320, 0.9311, 0.9300, 0.9275
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains under pressure at the beginning of the week, following last Friday’s acceleration lower that tested the upper boundary of strong 1.2830/00 support zone, denting 200 day MA at 1.2829. Overall bearish tone keeps further weakness favored, with test of 1.2800 platform seen likely. Break below 1.2800, 5-week congestion floor, to signal major correction and open 1.2740 zone, mid-June highs / Fib 38.2% of 1.2042/1.3170 rally. Corrective rallies see good barrier at 1.2880/1.2900, previous supports, where gains would be likely capped.
Res: 1.2841, 1.2862, 1.2880, 1.2900
Sup: 1.2813, 1.2800, 1.2740, 1.2700
GBP/USD
Negative sentiment continues to dominate on the near-term outlook, as last Friday’s bearish acceleration fully retraced 1.6005/1.6174 upleg, as the price posted fresh session low at 1.6006. Brief corrective action on oversold hourlies did not give many results, with near-term focus at 1.6000 support, also Fib 61.8% of larger 1.5911/1.6174 rally, seen as a trigger for fresh weakness and possible retest of key near-term support at 1.5900. Any bounce is expected to be limited at 20/55 EMA’s bearish crossover at 1.6075 and only break here would provide temporary relief.
Res: 1.6038, 1.6066, 1.6075, 1.6100
Sup: 1.6005, 1.6000, 1.5974, 1.5935
USD/JPY
Corrective pullback off last Friday’s fresh high at 80.67, when the price reached our initial target, weakened hourly structure, with bulls giving way after lower top was posted at 80.55. Also, indicators on 4h chart are starting to descend off overbought territory. However, bullish daily studies remain intact for now, with the latest reversal seen as corrective, as long as 80.15, Fib 38.2% of 79.27/80.67 upleg, reinforced by 20 day EMA and psychological 80.00 level, stay intact. Otherwise, confirmation of failure swing would be a trigger for stronger correction. On the upside, break above 80.67 to open 81.00 next.
Res: 80.37, 80.55, 80.67, 81.00
Sup: 80.26, 80.15, 80.00, 79.90
USD/CHF
Near-term bulls continue to drive the price higher, after the pair found ground at 0.9275 last week and acceleration through 0.9385/0.9400, previous peaks / 200 day MA, and weekly close above here, now testing 0.9430/36 double bottom. Break here is seen as a trigger for stronger correction of 0.9970/0.9213 descend and confirmation of base at 0.9200 zone. With fresh momentum emerging on a daily chart, upside remains favored, however, overextended conditions of hourly studies, may signal pause in current rally. Previous barriers at 0.9400/0.9385, now offer good support.
Res: 0.9436, 0.9461, 0.9500, 0.9523
Sup: 0.9414, 0.9400, 0.9385, 0.9374
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro comes under renewed pressure, following brief consolidation above yesterday’s low at 1.2766, with previous strong support at 1.2800, keeping the upside limited for now. Negative near-term sentiment, sees the downside favored, with immediate focus at 1.2760/40 zone, channel support / 09/10 Sep lows / Fib 38.2% of 1.2042/1.3170 rally. Only bounce above 1.2840, yesterday’s high / 20 day EMA, would delay bears.
Res: 1.2800, 1.2825, 1.2841, 1.2862
Sup: 1.2766, 1.2760, 1.2740, 1.2700
GBP/USD
The pair holds within broader 1.5911/1.6174 range, with near-term tone turning negative after losing 1.6000 and 1.5974 supports. Losses have so far been contained at 1.5956, with corrective action seen on oversold conditions. Initial barrier lies at 1.6000, near 23.6% of 1.6175/1.5956, while only lift above 1.6030/40, 4h Ichimoku cloud base / Fib 38.2% would provide temporary relief and prevent the pair sliding towards 1.5911, key near-term support.
Res: 1.6000, 1.6038, 1.6066, 1.6075
Sup: 1.5969, 1.5956, 1.5935, 1.5911
USD/JPY
Near-term bulls are losing traction, as pullback from 80.67 peak, cracks important 80.00 support. With hourly studies in the negative territory, the downside remains vulnerable, as 4h indicators are pointing lower. Larger picture, from the other side, holds firm bullish tone, with near-term risk seen on a slide below 78.80, Fib 61.8% of 79.27/80.67 that may trigger retest of 79.50/27 supports. Conversely, regain of 80.40 zone, would shift focus higher again.
Res: 80.30, 80.37, 80.55, 80.67
Sup: 79.96, 79.80, 79.50, 79.27
USD/CHF
The pair consolidates the latest rally that broke above near-term range top at 0.9430 zone and posted fresh high at 0.9449. Overall bullish tone remains intact, however, overbought conditions on 4h studies and appearance of MACD bearish divergence on hourly chart, may signal further hesitation on the way towards 0.9500, round figure / Fibonacci barrier. Any reversal sees good support at 0.9400/0.9385, while only loss of the latter, would be a signal of stronger corrective action.
Res: 0.9449, 0.9461, 0.9500, 0.9523
Sup: 0.9428, 0.9400, 0.9385, 0.9374
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro bounces strongly on dollar-negative US elections results, leaving temporary base at 1.2770 zone, with break below important 1.2800 support, proved to be false for now. With hourly bulls gaining pace and indicators well in the positive territory, 4h chart outlook shows prevailing bear-trend is now fading, but to give more credibility and confirm reversal, break above important 1.2880/1.2900 zone (previous base / daily Ichimoku cloud top / 55 day EMA / channel resistance) is required. Sustained break above 1.2900 handle, between 50 % and 61.8% of 1.3020/1.2762 descend, would avert immediate downside risk and bring the pair back to two-month range. On the downside, 1.2840/25 zone (05 Nov high / 200 day MA), offers good support, while slide below 1.2800 would signal resumption of larger downtrend from 1.3138.
Res: 1.2873, 1.2880, 1.2890, 1.2900
Sup: 1.2840, 1.2825, 1.2800, 1.2783
GBP/USD
Hourly structure turns positive, as the price finds footstep at 1.5956, with subsequent bounce through 1.6000 handle retracing 38.2% of 1.6174/1.5956 descend at 1.6040. As 4h studies start to point higher, break here, also 55 day EMA and regain of 1.6090, Fib 61.8% / 1.6100, round figure resistance, would confirm near-term bullish stance. Otherwise, lower boundaries of near-term range, would remain in focus. Daily structure is in neutral mode, as the price remains entrenched within 1.5900/1.6170 range, since mid-October.
Res: 1.6040, 1.6066, 1.6091, 1.6100
Sup: 1.6024, 1.6000, 1.5996, 1.5967
USD/JPY
Near-term price action moves in a sideways mode, as previous high at 80.67 stays intact for now and downside remains protected at 80.00 and 79.80, overnight’s spike low and 61.8% of 79.27/80.67 upleg. Hourly studies are still in the negative zone, while 4h indicators are losing traction. Regain of yesterday’s high at 80.43 to improve and shift focus higher. Conversely, losing 80.00/79.80 support zone, would revive bears and open way for stronger reversal towards Fib 38.2% of 77.94/80.67 at 79.63 and key near-term support at 79.27, 30 Oct low / 50% retracement.
Res: 80.43, 80.55, 80.67, 81.00
Sup: 80.00, 79.80, 79.63, 79.27
USD/CHF
The pair loses ground after unsuccessful attempt to clear 0.9430/36 barrier and fresh weakness below 0.9400 handle, as signaled by hourly RSI and MACD divergence. With hourly indicators in the negative territory and 4h ones descending from overbought area, further correction is seen likely, as the price cracks 200 day MA and daily Ichimoku cloud base, with Fibonacci supports at 0.9360 and 0.9335, seen next. Loss of 0.9300 handle, also Fib 61.8% of 0.9213/0.9454, would be bearish. On the upside, lift above initial 0.9400 barrier, is required to re-focus 0.9436/54.
Res: 0.9400, 0.9418, 0.9448, 0.9454
Sup: 0.9379, 0.9362, 0.9335, 0.9305