Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 70
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro continues its rally after consolidation around 1.3000 and weekly close just below the figure. Fresh strength through 1.3000, also daily Ichimoku cloud top and 1.3020/25, previous highs / Fib 76.4%, opens way towards trendline resistance at 1.3082 and psychological 1.3100 barrier. 10-day EMA at 1.3020 offers initial support, ahead of more significant 1.3000, while any deeper dips should be contained at 1.2970/60, higher platform / 50% of 1.2879/1.3046, to keep immediate bulls intact. Conversely, violation of 1.2960/40 support zone, would delay bulls in favor of stronger retracement towards 1.2920/00, next support area.
Res: 1.3046, 1.3050, 1.3082, 1.3100
Sup: 1.3020, 1.3000, 1.2981, 1.2968
GBP/USD
Cable remains congested under strong 1.6050 barrier, following last Friday’s unsuccessful attempt to break higher. Near-term price action is entrenched within 1.6060 and 1.5960 range, as bulls run out of steam and indicators hold neutral tone. Upside break to open 1.6100, while penetration of 1.6000/1.5990 supports, would risk test of range floor and possibly open way for fresh weakness towards 1.5900.
Res: 1.6046, 1.6060, 1.6067, 1.6092
Sup: 1.6026, 1.6000, 1.5990, 1.5960
USD/JPY
The pair lacked momentum for full reversal of 82.83/81.68 descend, as rally from 81.68 stalled at 82.74 and subsequent corrective action is under way. Weekly close above 82.00 keeps bullish structure intact for possible attempt at psychological 83.00 level, with 82.00 expected to contain. Only violation of 81.68 support would sideline bulls and allow for stronger corrective action towards 81.40, Fib 38.2% of 79.06/82.83 and 81.00, round figure support.
Res: 82.50, 82.74, 82.83, 83.00
Sup: 82.20, 82.00, 81.90, 81.68
USD/CHF
The pair continues to trend lower, with series of loser lows, keeping focus at key near-term support and larger consolidation range floor at 0.9213. With fresh low being posted overnight and upside capped by descending 20 day EMA at 0.9260, bears remain fully in play. Negative studies on 1 and 4h chart support the notion. Only break above 0.9300, daily Ichimoku cloud base / Fib 61.8% of 0.9339/0.9242, would avert immediate downside risk.
Res: 0.9261, 0.9279, 0.9290, 0.9300
Sup: 0.9242, 0.9213, 0.9200, 0.9193
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro’s near-term bulls remain unobstructed, as the single currency clears trendline resistance at 1.3082 and psychological 1.3100 barrier, with fresh high posted at 1.3123, levels last time seen in mid-October. Strong bullish tone, shown on lower and larger timeframes studies, with strong momentum being established, keeps the key upside targets at 1.3138/70 in focus, as potential break here would signal fresh bullish phase of the larger uptrend from 1.2042, 24 July annual low that was interrupted by broader 1.3170/1.2660 correction. Immediate supports stand and 1.3070, 03 Dec high / 55 day EMA and 1.3046, 03 Dec intraday high / 04 Dec low.
Res: 1.3123, 1.3138, 1.3170, 1.3200
Sup: 1.3100, 1.3070, 1.3046, 1.3020
GBP/USD
Near-term structure remains positive, as the pair regains 1.6100 handle, following pullback from yesterday’s fresh high at 1.6129 that found footstep at 1.6087. Weakening hourly studies, however, warn of possible hesitation and reversal in case of failure to clear recent high, also Fib 61.8% of 1.6308/1.5826 descend. The notion is also supported by 4h indicators that start to point lower. Loss of 1.6100/1.6087 would confirm pause in current rally and open way for corrective action towards strong supports at 1.6050 and 1.6000. Conversely, lift above 1.6129, is expected to expose key barriers and double-top at 1.6174/78.
Res: 1.6119, 1.6129, 1.6174, 1.6178
Sup: 1.6100, 1.6087, 1.6060, 1.6050
USD/JPY
The pair averts immediate downside risk after finding support at 81.70, near-term range floor and subsequent bounce retraces near 61.8% of 82.83/81.70 downleg at 82.33. Hourly studies turned positive, however, still weak conditions on 4h chart, keep the downside risk in play. Unless 82.50/60 barriers are regained, likely near-term scenario would be further range trading, with focus at the lower boundaries of the range. Loss of 81.70 to signal stronger corrective action.
Res: 82.33, 82.50, 82.60, 82.74
Sup: 82.12, 82.00, 81.68, 81.58
USD/CHF
The pair remains near-term consolidative phase, holding above fresh low at 0.9239 and key support and near-term target at 0.9213. With hourly studies losing ground again, as 0.9300 barrier capped corrective attempts and 4h indicators holding in the negative territory, downside remains in near-term focus. Attack at key support at 0.9213 is seen as likely scenario, with break here to open way for resumption of broader downtrend from 0.9970, interrupted by corrective / consolidative 0.9213/0.9511 phase.
Res: 0.9273, 0.9292, 0.9300, 0.9339
Sup: 0.9244, 0.9239, 0.9213, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro starts the week under increased pressure, despite Friday’s close above 1.2900 handle, as gap lower open tested levels below 50% of 1.2660/1.3125 ascend. With bears fully in control on lower timeframes studies, and failure to fill the gap, further weakness is seen as likely near-term scenario. Immediate target lies at 1.2839, Fib 61.8%, ahead of strong support zone at 1.2820, where daily Ichimoku cloud base and bull-trendline off 1.2042 lie. Overnight’s high at 1.2914, reinforced by hourly 200 day EMA, offer initial resistance, followed by 1.2950, 06 Dec low / 07 Dec intraday high / 55 day EMA and 1.2971, 07 Dec high / Fib 38.2% of 1.3125/1.2876. Only regain of psychological 1.3000 barrier, also 50% retracement, would avert immediate downside risk.
Res: 1.2914, 1.2950, 1.2971, 1.3000
Sup: 1.2876, 1.2839, 1.2825, 1.2800
GBP/USD
Cable’s near-term price action moves above psychological 1.6000 support, also last Friday’s low, with gains being capped by 4h 55 day EMA at 1.6040 zone. Negative hourly studies are lacking momentum for stronger recovery, as additional pressure comes from 4h indicators that moved into negative territory. This keeps immediate focus at the downside, as loss of 1.6000 handle is expected to open way for further retracement of 1.5826/1.6129 rally and confirm double-top pattern. Immediate downside targets lie at 1.5978/60, Fib 50% / 28 now low, below which to possibly target 1.5942/00, Fib 61.8% / 76.4% retracement. Overnight’s high at 1.6042, offers initial resistance, while break through 1.6060, Last Friday’s high and 50% of 1.6127/1.6000, would provide relief and signal basing attempt.
Res: 1.6032, 1.6042, 1.6060, 1.6090
Sup: 1.6012, 1.6000, 1.5987, 1.5960
USD/JPY
Near-term tone shows signs of improvement, as hourly / 4h studies broke higher and the price attacked 82.80 barrier and near-term range –top. However, failure to clear 83.00 barrier, shows lack of momentum and keeps the range barrier intact for now. Holding above 82.20, 55 day EMA, would keep the prospect for possible fresh attempt high, while break below would shift near-term focus lower and expose 82.00 and 81.70, range floor.
Res: 82.63, 82.74, 82.83, 83.00
Sup: 82.20, 82.00, 81.68, 81.58
USD/CHF
The pair maintains near-term positive stance, following break above important 0.9300/40 barriers and extension higher that so far retraced over 50% of 0.9511/0.9239 decline at 0.9381. Overnight gap-higher opening and approach to important 0.9400/20 resistance zone, keeps the downside protected for now and looks for further retracement. However, extended hourly conditions may signal further consolidation, with 0.9320 zone, last Friday’s lows, reinforced by ascending 55 day EMA, expected to contain. Break of 0.9400 and 0.9420, 200 day MA, is required to resume recovery and signal triple-bottom.
Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9346, 0.9325, 0.9315, 0.9300
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro steadies above 1.2900 support, with overnight’s brief break above initial 1.2950 resistance, lacking momentum for test of more significant 1.2970, Fib 38.2% and 1.3000, round figure / 50% retracement of 1.3125/1.2876. Hourly studies are losing traction, while 4h 20 day EMA capping and indicators in the negative territory, with Stochastic reversing, seeing the downside still vulnerable. Failure to regain 1.3000 handle that would open way for stronger recovery, sees risk of retesting 1.2900/1.2876, to possibly trigger further retracement of larger 1.2660/1.3125 ascend.
Res: 1.2961, 1.2971, 1.3000, 1.3030
Sup: 1.2927, 1.2900, 1.2885, 1.2876
GBP/USD
Cable holds near-term positive tone, established on a strong bounce from 1.6000 support zone, despite yesterday’s rejection on approach to psychological 1.6100 barrier. While the near-term consolidation holds above 1.6060, previous resistance, scope exists for fresh attempt higher, with clearance of 1.6100 and more important 1.6129 double-top, required to confirm bullish stance. Otherwise, loss of 1.6060, also 55 day EMA, would see increased risk of re-visiting 1.6000 area. Hourly studies are losing momentum, while 4h indicators are about to break above the midlines, with regain of 1.6100, required to confirm.
Res: 1.6086, 1.6095, 1.6100, 1.6127
Sup: 1.6060, 1.6042, 1.6012, 1.6000
USD/JPY
The pair holds in the middle of near-term 81.70/82.83 range, following unsuccessful attempt at upper boundary and dips being contained above psychological 82.00 support. Near-term studies remain neutral, with break of either side of the range, required to establish fresh direction.
Res: 82.43, 82.63, 82.74, 82.83
Sup: 82.29, 82.10. 82.00, 81.68
USD/CHF
The pair holds near-term positive tone, as reversal from last Friday’s fresh high at 0.9381, finds ground at initial support at 0.9320, reinforced by 20 day EMA. Positive 4h chart structure keeps the upside in focus, with hourly studies starting to point higher and gaining bullish momentum. Regain of important 0.9400 barrier is seen as initial signal of bullish resumption, with break above 200 day MA at 0.9420 and previous peaks at 0.9430 zone, required to confirm. Conversely, loss of 0.9320/00 would revive bears and re-expose 0.9239 and key support at 0.9213.
Res: 0.9368, 0.9381, 0.9400, 0.9430
Sup: 0.9320, 0.9300, 0.9263, 0.9254
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro holds positive stance, consolidating recent rally at 1.3000 zone. Regain of 1.3000 level, also 50% of 1.3125/1.2876 descend, sees more prospect for further recovery, as 4h studies are ascending and see room for fresh extension and test of next barrier at 1.3030, Fib 61.8%, above which 1.3085/1.3100 would come in near-term focus. However, hourly indicators are reversing from overbought zone that may signal further corrective action, with strong support at 1.2970, previous high of 07 Dec and 20/55 day EMA’s bullish crossover, expected to contain dips and keep bullish structure intact..
Res: 1.3013, 1.3030, 1.3041, 1.3066
Sup: 1.2995, 1.2970, 1.2950, 1.2927
GBP/USD
Cable has nearly fully retraced recent 1.6127/1.6000 downleg on rally from higher base at 1.6060 and break above psychological 1.6100 barrier that posted high at 1.6121. Corrective pullback on overbought hourly studies, faces static support at 1.6060, also 50% of 1.6000/1.6121 ascend, seen as ideal reversal point, as 4h studies hold bullish momentum and keep the upside favored. However, clear break above 1.6127/29 double-top is required to confirm and open next barrier at 1.6174. Increased downside risk would be seen on slide below 1.6040 zone, 07/10 Dec highs / Fib 61.8% that would signal triple-top formation and expose lower targets.
Res: 1.6100, 1.6121, 1.6127, 1.6129
Sup: 1.6090, 1.6060, 1.6042, 1.6012
USD/JPY
Near-term bulls are returning to play, as the price attacks the upper boundary of near-term range at 82.80 zone. Positive structure on lower timeframes studies, remains supportive, with confirmation seen on a break above 82.80/83.00 barriers that would signal an end of consolidative phase and resume larger uptrend from 77.12, 13 Sep low. Repeated failure at 82.80/83.00 would keep the pair within the range.
Res: 82.83, 83.00, 83.29, 84.08
Sup: 82.52, 82.32, 82.10, 82.00
USD/CHF
Strong near-term support zone at 0.9320/00 remains under pressure, as the pair reverses, following failure on attempt at cluster of resistances at 0.9400 zone. With nearly 50% of recovery rally from 0.9239 to 0.9381, being retraced so far and negative hourly structure, downside remains at risk. The notion is supported by descending 4h chart studies that are breaking into negative territory. Slide below 0.9300 to confirm lower top at 0.9381 and re-focus downside targets at 0.9254 and 0.9239. Alternative scenario sees downside rejection above 0.9300 that would keep hopes of fresh strength and possible attempt at 0.9380/0.9400, with regain of minimum 0.9367, yesterday’s high, required to confirm.
Res: 0.9335, 0.9367, 0.9381, 0.9400
Sup: 0.9312, 0.9300, 0.9263, 0.9254
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains well supported, with last Friday’s surge through key barriers at 1.3138/70, resulted in testing levels just under psychological 1.3200 level and 30d Bollinger Band during the Asian session. Corrective easing is seen likely, as hourly indicators are emerging out of overbought zone, while 4h ones started o reverse. However, overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks. On the upside, immediate target lies at 1.3282, 01 May high and psychological 1.3300 barrier. With dips being contained by 20 day EMA at 1.3140 for now, next strong supports lies at 1.3100 zone, also 55 day EMA and 1.3070, last Friday low / Fib 38.2% of 1.2876/1.3186 ascend.
Res: 1.3170, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3118, 1.3100, 1.3065
GBP/USD
Cable is poised to break above psychological 1.6200 barrier, also Fib 76.4% of 1.6308/1.5826, the last barrier en-route to strong 1.6300 resistance zone. Near-term studies are positively aligned and keep the upside favored, with psychological support at 1.6100, also 50% of 1.6000/1.6200, expected to contain any stronger reversal.
Res: 1.6200, 1.6216, 1.6250, 1.6271
Sup: 1.6175, 1.6155, 1.6130, 1.6100
USD/JPY
Strong bullish stance has been confirmed by overnight’s gap-higher opening, as the price broke above previous annual high at 84.17. Corrective action off overnight’s fresh high at 84.32, holds for now above last week’s closing price, with any stronger retracement, as 4h studies are overbought and divergence appears on hourly chart, would face good supports at 83.30 and 83.00, levels expected to contain. On the upside, psychological 85.00 barrier comes in the near-term focus.
Res: 84.00, 84.15, 84.32, 84.50
Sup: 83.84, 83.50, 83.30, 83.00
USD/CHF
Near-term bears remain fully in play, as the pair dips to 0.9150, following loss of 0.9200 base. Brief corrective action on oversold near-term conditions strong barriers at 0.9200/40 area that are expected to cap, with 0.9100 zone seen in the near-term focus, as the pair resumes broader downtrend from 0.9970, 24 July annual high.
Res: 0.9192, 0.9200, 0.9213, 0.9240
Sup: 0.9175, 1.9164, 0.9151, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains well supported, with last Friday’s surge through key barriers at 1.3138/70, resulted in testing levels just under psychological 1.3200 level and 30d Bollinger Band during the Asian session. Corrective easing is seen likely, as hourly indicators are emerging out of overbought zone, while 4h ones started o reverse. However, overall bullish tone remains intact, as clear break above 1.3200 would signal fresh bull phase after three-month congestion under 1.3170/38 peaks. On the upside, immediate target lies at 1.3282, 01 May high and psychological 1.3300 barrier. With dips being contained by 20 day EMA at 1.3140 for now, next strong supports lies at 1.3100 zone, also 55 day EMA and 1.3070, last Friday low / Fib 38.2% of 1.2876/1.3186 ascend.
Res: 1.3170, 1.3186, 1.3200, 1.3250
Sup: 1.3142, 1.3118, 1.3100, 1.3065
GBP/USD
Cable is poised to break above psychological 1.6200 barrier, also Fib 76.4% of 1.6308/1.5826, the last barrier en-route to strong 1.6300 resistance zone. Near-term studies are positively aligned and keep the upside favored, with psychological support at 1.6100, also 50% of 1.6000/1.6200, expected to contain any stronger reversal.
Res: 1.6200, 1.6216, 1.6250, 1.6271
Sup: 1.6175, 1.6155, 1.6130, 1.6100
USD/JPY
Strong bullish stance has been confirmed by overnight’s gap-higher opening, as the price broke above previous annual high at 84.17. Corrective action off overnight’s fresh high at 84.32, holds for now above last week’s closing price, with any stronger retracement, as 4h studies are overbought and divergence appears on hourly chart, would face good supports at 83.30 and 83.00, levels expected to contain. On the upside, psychological 85.00 barrier comes in the near-term focus.
Res: 84.00, 84.15, 84.32, 84.50
Sup: 83.84, 83.50, 83.30, 83.00
USD/CHF
Near-term bears remain fully in play, as the pair dips to 0.9150, following loss of 0.9200 base. Brief corrective action on oversold near-term conditions strong barriers at 0.9200/40 area that are expected to cap, with 0.9100 zone seen in the near-term focus, as the pair resumes broader downtrend from 0.9970, 24 July annual high.
Res: 0.9192, 0.9200, 0.9213, 0.9240
Sup: 0.9175, 1.9164, 0.9151, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro continues to trend higher, extending the latest upleg from 1.2876, 07 Dec low. Break and close above psychological 1.3200 barrier, confirms the fresh bull-phase, following three-month congestion under 1.3170 peak. Larger picture bulls see room for fresh extension higher and test of initial targets at 1.3282, 01 May high and 1.3300, round-figure resistance, with strong resistance zone at 1.3500, yearly high / Fib 50% of 1.4938/1.2042, expected to come in near-term focus. Consolidative / corrective action on extremely overbought hourly studies, may precede fresh bulls, with initial static supports standing at 1.3220/00, reinforced by 20 day EMA and previous high at 1.3186. Any stronger reversal should be contained by 1.3100 zone, Fib 38.2% of 1.2876/1.3253 / 55 day EMA.
Res: 1.3253, 1.3282, 1.3300, 1.3350
Sup: 1.3220, 1.3200, 1.3186, 1.3142
GBP/USD
Near-term bulls remain fully in play for possible test of key barrier and multi-month range top at 1.6300, as yesterday’s strong rally reached 1.6286 high, just ahead of 1.6300/08, 30 Apr / 21 Sep yearly peaks. Overextended near-term studies suggest a pause in rally, however, no clear reversal signal seen yet. Overnight’s corrective low at 1.6244 offers immediate support, ahead of more significant higher platform and Fib 38.2% of 1.6084/1.6286 upleg at 1.6200 that is expected to contain any stronger pullback.
Res: 1.6286, 1.6300, 1.6308, 1.6388
Sup: 1.6244, 1.6200, 1.6190, 1.6175
USD/JPY
The pair resumes near-term rally that was interrupted by two-day 84.32/83.60 corrective action. With fresh high posted just under our initial target at 84.50, scope is seen for possible stretch towards psychological barrier at 85.00, also weekly 200 day MA. However, overbought conditions on lower and larger timeframes, require caution, as failure to surpass 84.50, would result in stronger corrective action towards 83.80/60 support zone.
Res: 84.42, 84.50, 85.00, 85.51
Sup: 84.21, 84.00, 83.80, 83.60
USD/CHF
Bears remain unobstructed, as the pair continues to post fresh lows, following loss of important 0.9200 level. As the price approaches psychological 0.9100 support, bearish extension through here would eye 0.9041 and 0.9000, 01 May / 03 Apr lows. Near-term indicators in the oversold territory do not rule out bounce, with previous low at 0.9151, offering initial resistance, ahead of more significant 0.9200, round figure / near Fib 38.2% of 0.9381/0.9112 descend, break of which would provide temporary relief.
Res: 0.9136, 0.9151, 0.9192, 0.9215
Sup: 0.9112, 0.9100, 0.9080, 0.9041
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency is taking a pause in recent strong rally, as psychological 1.3300 level proves to be tough barrier. Subsequent quick pullback and slide below 1.3200 handle, sidelines near-term bulls, as hourly indicators moved in the negative territory and notion being supported by Gravestone Doji that signals loss of upward momentum and stronger reversal. With initial strong support at 1.3200/1.3186 being dented, where 20 day EMA contained dips for now. However, further reversal cannot be ruled out, with next support at 1.3140 zone, Fib 38.2% of 1.2876/1.3307 and 17 Dec low, required to hold and prevent the pair form deeper slide. On the upside, lift above 1.3250 would signal higher low and shift focus towards 1.3300 barrier. Strong bullish stance on a daily chart, still keeps the upside favored, with 1.3360, weekly 90 day MA and 1.3380, April highs, seen as near-term targets.
Res: 1.3227, 1.3253, 1.3307, 1.3360
Sup: 1.3200, 1.3186, 1.3142, 1.3100
GBP/USD
Near-term bulls are losing traction, after Cable briefly tested very strong 1.6300 barrier but failure to sustain gains, resulted reversal to initial support zone at 1.6240, where 55 day EMA so far contained losses. Negative structure on hourly chart, with price holding below descending 20 day EMA and 4h indicators reversing from overbought zone, see potential for further retracement, with 1.6200, round figure / near 38.2% of 1.6000/1.6305, seen as next downside target, with break here to confirm near-term top and open way towards 1.6100.
Res: 1.6260, 1.6268, 1.6300, 1.6308
Sup: 1.6236, 1.6200, 1.6190, 1.6175
USD/JPY
The pair dips below psychological 84.00 support, as gains stalled at 84.61 and reversal retraced nearly 61.8% of 83.30/84.61 upleg at 83.84. near-term structure is now negatively aligned, with immediate risk seen towards 83.60/30 support. Losing the latter will also fill last Monday’s gap and risk stronger correction of the recent rally. Reversing 4h and overbought daily studies are supporting such scenario, with close below 84.00, required to confirm. Conversely, regain of previous top at 84.32, would avert immediate downside risk.
Res: 84.00, 84.32, 84.46, 84.61
Sup: 83.80, 83.60, 83.30, 83.00
USD/CHF
The pair enters corrective phase after fresh losses through psychological 0.9100 support, found temporary ground at 0.9085, 20 day lower Bollinger Band. Subsequent bounce so far tested initial barrier and previous low at 0.9150, where 20 day EMA limited recovery for now. Improved conditions on hourly chart, see potential for possible further extension higher and test of psychological 0.9200 barrier, break of which is required to confirm recovery. From the other side, firmly bearish daily structure, sees the current move as corrective and preceding fresh weakness that would focus 0.9040/00, next downside targets.
Res: 0.9153, 0.9200, 0.9240, 0.9268
Sup: 0.9126, 0.9100, 0.9085, 0.9040
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Strong rally from 1.3000 base brought near-term bulls fully in play, as the price surged above important 1.3300 barrier. Weekly close above the latter confirms positive sentiment, with fresh extension higher testing next target and psychological 1.3400 barrier overnight. Positive daily structure sees scope for further retracement of larger 1.4938/1.2042, 2011/2012 descend, with Feb 2012 peak at 1.3485, along with 50% retracement and psychological 1.3500 resistance, seen next. From the other side, overextended conditions on one and four-hour chart, with hourlies already pointing lower, suggest corrective pullback. Immediate supports lie at 1.3350/30, hourly 20 day EMA / Friday’s intraday low, ahead of more significant 1.3300 zone, where dips should be ideally contained. Any reversal under 1.3247 higher platform, would delay bulls.
Res: 1.3402, 1.3450, 1.3485, 1.3500
Sup: 1.3350, 1.3330, 1.3300, 1.3280
GBP/USD
Cable trades in a corrective/consolidative mode, following last Friday’s failure to regain psychological 1.6200 barrier. However, 1.6100 support zone offers good support, with dips being contained there for now. Hourly studies are weak, while 4h chart outlook hold more positive tone and sees potential for fresh attempt at 1.6177 and 1.6200, with 1.6115/00 zone, 20/55 day EMA’s / round figure support, required to hold and prevent fresh slide towards 1.6074/62, 08 Jan high / Fib 61.8% of 1.5991/1.6177 rally, loss of which would sideline bulls.
Res: 1.6154, 1.6177, 1.6200, 1.6231
Sup: 1.6115, 1.6100, 1.6088, 1.6074
USD/JPY
The pair continues to travel north after clearance of previous high at 88.40, cleared 89.00 level and shifted focus towards psychological 90.00 barrier. Corrective easing is seen on overbought near-term conditions and faces good supports at 89.34/00, ahead of 88.73 and 88.40, where any stronger pullback should find ground, to keep near-term bulls intact.
Res: 89.66, 90.00, 90.39, 90.50
Sup: 89.34, 89.00, 88.73, 88.40
USD/CHF
The pair remains under pressure, following last week’s corrective attempt failure under strong 0.9200 barrier, psychological resistance and 20/55 day EMA’s bearish crossover. Subsequent reversal towards initial 0.9100 support, keeps bears in play, as the price looks for test of 0.9080 base, loss of which would trigger fresh extension of larger downtrend from 0.9970 and expose 0.9041/00, next downside targets. Any recovery under 0.9200, would be described as corrective, while only break here would provide relief.
Res: 0.9142, 0.9177, 0.9191, 0.9200
Sup: 0.9110, 0.9100, 0.9080, 0.9041