Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 72
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency regained some ground, as bounce from 1.3352 base cracked important barrier at 1.3365, channel resistance / 50% of 1.3576/1.3352, but failed to break higher. Consolidative action is for now held by hourly 20 day EMA and above 1.3430, previous range tops that keeps immediate focus at the upside. However, hourly studies are in positive territory but lacking momentum for now, while 4h structure looks more supportive. Break above 1.3465 is seen as initial trigger for further recovery, with clearance of 1.3500 barrier, near 61.8%, required to confirm. Conversely, slide under 1.3400, would weaken the structure and re-focus 1.3352.
Res: 1.3465, 1.3477, 1.3490, 1.3500
Sup: 1.3430, 1.3400, 1.3370, 1.3352
GBP/USD
Yesterday’s recovery rally from fresh annual low at 1.5572, retraced daily losses and returned to the opening levels, but lacked strength to clear pivotal 1.5700 barrier, also 50% of 1.5843/1.5572. Slight improvement on hourly studies is insufficient for stronger recovery for now, as 4h structure remains negative, along with overall bearish picture that describes the latest rally as corrective and preceding fresh weakness. Slide below 1.5600/1.5572 is expected to open 1.5530, Fib 76.4% of 1.5267/1.6380 and 1.5500 next. Only clear break above 1.5700, would delay immediate bears for 1.5740/1.5780, while more significant improvement requires regain of 1.5843/77 peaks.
Res: 1.5675, 1.5688, 1.5700, 1.5740
Sup: 1.5645, 1.5600, 1.5572, 1.5545
USD/JPY
Sharp reversal from yesterday’s high at 94.40 dipped below important 93.00, Fib 61.8% of 92.17/94.45 and weakened near-term structure. Dips were so far contained by 55 day EMA at 92.80, with quick reversal above 93.00, keeping the bullish stance. However, failure to regain 93.60, yesterday’s intraday high and 50% of 94.40/92.80 slide, would risk fresh weakness that may focus key near-term support at 92.00, loss of which would be bearish. From the other side, lift above 93.60 and regain of 94.40, to bring bulls fully in play for possible retest of strong 94.45/40 barrier.
Res: 93.44, 93.60, 93.85, 94.00
Sup: 93.00, 92.80, 92.44, 92.17
USD/CHF
The pair lost traction, after failure to clear 0.9200 breakpoint, as gains stalled at 0.9213, capped by daily Ichimoku cloud base. Subsequent reversal returned to near-term range floor at 0.9150 that so far contained dip, along with 55 day EMA. Negative hourly structure keeps the downside at risk, with 4h chart indicators losing momentum. Loss of 0.9150/40, recent range floor and Fib 38.2% of 0.9020/0.9213 would revive near-term bears for test of 0.9100, while lift above 0.9200, requires regain of 0.9247, 50% of 0.9387/0.9020, to improve.
Res: 0.9180, 0.9200, 0.9213, 0.9247
Sup: 0.9150, 0.9115, 0.9100, 0.9065
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro came under increased pressure after yesterday’s upside rejection at 1.3518, accelerating loses through 1.3428, previous highs and broken channel line and psychological 1.3400 support. With over 76.4% of 1.3352/1.3518 ascend being reversed so far, immediate focus shifts towards near-term base at 1.3352, also 50% of larger 1.2996/1.3710 upleg, below which to signal resumption of downtrend from 1.3710, towards 1.3300 and 1.3265/70 higher platform / bull-trendline off 1.2660. Negative near-term studies support the notion. Corrective rallies would face good barriers at 1.3428 and 1.3460 zone and only break here would turn focus higher.
Res: 1.3400, 1.3428, 1.3465, 1.3477
Sup: 1.3370, 1.3352, 1.3300, 1.3270
GBP/USD
Cable continues to move south, approaching our next target at 1.5500. Strong bearish tone in short-term studies suggests that further extension lower is likely, as clearance of psychological 1.5500 support is expected to open 1.5489/57, Aug 2012 lows initially, with key med-term supports at 1.5267 and 1.5233, Jan / June 2012, coming in near-term focus. Possible hesitation at 1.5500 handle would be expected on oversold 1/4h conditions, with corrective rallies seen limited at 1.5630 zone.
Res: 1.5571, 1.5584, 1.5600, 1.5630
Sup: 1.5500, 1.5489, 1.5457, 1.5392
USD/JPY
Near-term price action moves in a sideways mode, with 93.00 zone protecting the downside and keeping slightly positive tone in play. Regain of initial barrier and range top at 93.76, as well as 94.00, previous high, is required confirm bullish structure and confirm higher low at 92.81, for attempt at recent peaks at 94.40/45. Conversely, slide below 93.00/92.80, would weaken near-term structure and shift focus towards key near-term support at 92.00.
Res: 93.76, 93.90, 94.00, 94.40
Sup: 93.12, 93.00, 92.80, 92.44
USD/CHF
No significant changes seen in past sessions, as the price action was entrenched between 0.9150 and 0.9213 range. Near-term tone is slightly aligned towards the upside, following attempts at range tops, however, sustained break above 0.9200 and regain of Fibonacci barrier at 0.9247, is required to confirm bullish resumption and open way for fresh extension towards 0.9300. On the downside, range floor at 0.9150 guards 0.9100.
Res: 0.9218, 0.9247, 0.9300, 0.9323
Sup: 0.9165, 0.9150, 0.9115, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains in two-day 1.3300/1.3400 range, with near-term structure showing bears still holding control. Studies on 4h chart are in the negative territory and descending 20 day EMA limits the upside. Basing attempt at 1.3300 is evident, as Friday’s Doji signals indecision, however, prevailing negative tone, keeps the downside pressured. With 1.3300 offering initial support, series of strong supports lie just below here, with trendline (1.2660/1.2996) at 1.3285 and 1.3265, January’s higher platform. Break here is required to confirm reversal and open way towards 1.3185/70 breakpoint. On the upside, break above 1.3400, would provide relief, while only regain of 1.3500 zone, 50% of 1.3710/1.3305 would shift near-term focus higher.
Res: 1.3357, 1.3374, 1.3392, 1.3411
Sup: 1.3324, 1.3305, 1.3285, 1.3265
GBP/USD
Cable remains under pressure, as price slides below 1.5500 again, following brief recovery to 1.5550, seen last Friday. Overnight’s gap-lower opening, along with negative near-term studies, keeps near-term focus at the downside, with break below Friday’s low at 1.5459, to open 1.5400 zone initially, for possible extension towards key supports at 1.5267/33, 2012 lows, seen as likely near-term scenario. Overextended 4h chart conditions, however, may delay bears, with corrective rallies seen capped at 1.5550/70 zone, Fib 38.2% / 50% of 1.5688/1.5459 descend. Only break above 1.5600, Fib 61.8%, would avert immediate downside risk and signal near-term basing attempt, confirmation of which requires regain of 1.5700 handle.
Res: 1.5497, 1.5550, 1.5571, 1.5600
Sup: 1.5459, 1.5392, 1.5320, 1.5267
USD/JPY
The pair regained strength, as near-term range floor and base at 92.00 zone, proved to be good support. Fresh rally and weekly gap-higher opening, along with break above psychological 94.00 barrier, see scope for retest of recent highs and near-term range top at 94.40/45, for resumption of broader uptrend towards the next target at 94.97, May 2010 high. Four-hour chart indicators emerged from the negative territory and see room for fresh bulls, however, gains may be delayed by overbought hourlies. Initial support lies at 93.80, 10 day EMA, ahead of session low at 93.64, where dips should be ideally contained, while only penetration of 93.20, Fib 61.8% of 92.21/94.21 and psychological 93.00 support, would sideline near-term bulls.
Res: 94.00, 94.21, 94.40, 94.45
Sup 93.83, 93.64, 93.45, 93.30
USD/CHF
The pair attempts higher to resume near-term recovery off 0.9020, after fresh strength breaks above last Thu/Fri consolidation top and Fib 61.8% of 0.9387/0.9020 descend. Next target lies at 0.9300, 76.4% retracement, above which to confirm base at 0.9020 and open next targets at 0.9381/87. With 4h 20 day EMA at 0.9220 holding the downside for now, any stronger reversal should stay above 0.9200 higher base, keep immediate bulls intact. Otherwise, break here would soften near-term tone and open 0.9150, 12/13 Feb lows.
Res: 0.9256, 0.9300, 0.9323, 0.9387
Sup: 0.9233, 0.9220, 0.9200, 0.9150
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The near-term price action remains in a sideways mode, moving in a bearish pennant-shape consolidation. Yesterday’s spike higher failed to reach range top and initial barrier at 1.3400, keeping the upside limited by descending 20 day EMA, with negative structure on 4h chart, holding the downside at risk. However, near-term indecision is evident, as double Doji appears on a daily chart and while 1.3300/1.3275 base / trendline support hold the downside, further consolidation is not ruled out. Resumption of underlying bear-trend requires slide below the trendline and higher base at 1.3265, for extension towards main bull trendline, drawn off 1.2042 at 1.3220 and possible test of pivotal 1.3185/70, 50% of 1.2660/1.3710 / Sep 2012 peaks. On the upside, break above 1.3400, would ease bear-pressure, however, to revive bulls and shift focus higher, regain of 1.3500 barrier and 50% of 1.3710/1.3305 is required.
Res: 1.3355, 1.3365, 1.3378, 1.3392
Sup: 1.3335, 1.3320, 1.3305, 1.3275
GBP/USD
Cable continues to trend lower, with fresh low at 1.5437 being posted yesterday, as the price failed to fill weekly-opening gap. Negative near-term studies keep the downside favored, with initial targets lying at psychological 1.5400 and 1.5390, July 2012, as broader weakness off 1.6380 peak, keeps focus at key supports and larger range floor at 1.5267/33. Overextended 4h studies do not rule out consolidative / corrective action, with initial barrier at 1.5550, seen capping for now. Only lift above 1.5600/40, Fib 38.2% / 50% of 1.5843/1.5437 downleg, would spark stronger recovery.
Res: 1.5500, 1.5550, 1.5571, 1.5600
Sup: 1.5455, 1.5437, 1.5392, 1.5320
USD/JPY
The pair remains in a near-term 92.00/94.40 range, as yesterday’s rally, despite regaining 94.00 barrier, stalled on approach to range tops at 94.40/45. Loss of 94.00 handle, weakens the hourly structure that sees room for further retracement, as 38.2% of 92.21/94.21 upleg, has been reversed so far. Next targets lie at 93.21 and 92.97, 50%v / 61.8% retracement levels, while 94.00 offers initial resistance. However, holding within the range will keep the price directionless.
Res: 93.75, 94.00, 94.21, 94.40
Sup 93.21, 93.00, 92.68, 92.21
USD/CHF
No big changes seen in the near-term price action that stays in a consolidative 0.9200/50 range, as a part of steady recovery from 0.9020 base. Overall picture remains bullish in the near-term, with regain of the next barrier at 0.9300, also 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top, required to trigger stronger recovery towards key barriers and breakpoint at 0.9400 zone. Initial support at 0.9200 guards 0.9150/40, previous range floor / mid-point of recent recovery and only break here will bring bears back in play.
Res: 0.9241, 0.9256, 0.9300, 0.9323
Sup: 0.9221, 0.9200, 0.9150, 0.9140
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The single currency’s break above four-day 1.3300/1.3400 consolidation, averts downside risk and signals basing attempt at 1.3300. Initial barrier at 1.3440, Fib 61.8% of 1.3518/1.3305 / 4h Ichimoku cloud base, comes under pressure, with break here expected to open more significant resistance and pivotal point at 1.3500 zone, 50% of entire 1.3710/1.3305 descend at 1.3508 and 13 Feb lower high at 1.3518, above which to confirm near-term base and open way for stronger recovery. Improved 4h chart studies support the notion, with previous barrier at 1.3400, now offering initial support, reinforced by 55 day EMA. However, underlying bear-trend keeps risk of lower top and fresh weakness, as long as 1.3518 stays intact.
Res: 1.3437, 1.3468, 1.3508, 1.3518
Sup: 1.3400, 1.3381, 1.3354, 1.3327
GBP/USD
Near-term bears remain fully in play, as the pair continues to post fresh lows, with the latest seen at 1.5413, just ahead of our next target at 1.5400/1.5390 zone. Near-term focus remains at key supports at 1.5267/33, med-term range lows, with upside being protected at 1.5500/50 and only breaks here would signal pause in current descend, for some corrective action.
Res: 1.5460, 1.5500, 1.5550, 1.5571
Sup: 1.5413, 1.5400, 1.5392, 1.5320
USD/JPY
Near-term consolidative range remains intact, with neutrals tone seen on near-term studies, as the price holds around the mid-point of 92.00/94.45 range. From the other side, reversing daily studies may question bulls, with loss of 92.00 base, required to confirm and bring bears in play. Otherwise, bullish continuation above 94.45, would look for test of our near-term target at 94.97, May 2010 high.
Res: 93.80, 94.00, 94.21, 94.40
Sup: 93.13, 93.00, 92.68, 92.21
USD/CHF
Near-term bulls are losing traction after failure to sustain gains above recent range top at 0.9200. Subsequent slide below range floor and initial support at 0.9200 softens the near-term structure. As 4h chart indicators are attempting below the midlines, increased risk is seen towards pivotal 0.9150/40 support, loss of which will be bearish. Conversely, holding above the latter, would keep hopes of fresh rally in play, however, clear break above 0.9256 is required to confirm bullish resumption for test of psychological / 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top at 0.9300.
Res: 0.9229, 0.9256, 0.9300, 0.9323
Sup: 0.9182, 0.9150, 0.9140, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro lost ground after leaving an hourly double top at 1.3433, unable to sustain gains above recent consolidative range top at 1.3400. Losses accelerated on a break below 1.3400, losing also near-term base at 1.3300 and bull trendline off 1.2660 at 1.3275, to dip to 1.3235 so far, just ahead of main bull trendline, drawn off 1.2042 at 1.3230. Consolidation above the latter is seen likely, as hourly studies are oversold, however, 4h chart studies show room for further extension lower. The notion is supported by daily indicators sliding into negative territory, with break below trendline support, seen as a trigger for fresh weakness towards strong support area at 1.3185, 50% of 1.2660/1.3710 / daily Ichimoku cloud top and 1.3170, Sep 2012 highs. Previous base at 1.3300, now acts as initial resistance and along with 1.3330, 50% of yesterday’s slide and 55 day EMA, seen capping for now.
Res: 1.3270, 1.3300, 1.3330, 1.3357
Sup: 1.3235, 1.3200, 1.3185, 1.3170
GBP/USD
Cable slumped to 1.5130 after sharp sell-off was triggered on a break below 1.5400. More significant is loss of multi-year range floor at 1.5233 and monthly Ichimoku cloud base that confirm bearish breakout and commences fresh bear-phase. Immediate focus turns towards 1.5100, Fib 261.8% expansion of the extended wave from 1.6380 and psychological 1.5000 support. Corrective action on extremely stretched near-term studies, faces initial barriers at 1.5200/50 zone, with key near-term levels seen at 1.5290/1.5325, 50% / 61.8% of yesterday’s fall and only break above the latter would spark more significant recovery.
Res: 1.5200, 1.5250, 1.5290, 1.5325
Sup: 1.5130, 1.5100, 1.5050, 1.5000
USD/JPY
The pair’s near-term price action shows no significant changes, compared to the previous few sessions, moving within 93.00/94.00 range. Near-term studies hold neutral stance, while overall bulls are showing initial signals of fatigue, as daily indicators started to move lower and ADX shows bulls sidelined. However, break below 92.00 base and breakpoint is to confirm bearish reversal and conversely, lift above 94.45 to open next upside target at 95.00, May 2010 high.
Res: 93.80, 94.00, 94.21, 94.40
Sup: 93.34, 93.00, 92.68, 92.21
USD/CHF
Near-term bulls regained ground after yesterday’s brief break below 0.9200 higher base, found ground above 0.9150 breakpoint. Fresh extension through 0.9256, previous range top, so far tested our next target at 0.9300, Fib 76.4% of 0.9387/0.9020 and daily Ichimoku cloud top, where overbought hourly studies limited rally. However, fresh attempt above midlines of 4h chart indicators, suggests that extension towards key near-term barriers at 0.9381/87 is likely, with clearance of 0.9300 barrier required to confirm. Corrective easing should ideally find support at / above 0.9250 area, previous tops and Fib 38.2% of yesterday’s rally, to keep near-term bulls intact, with further easing seen not very harmful for near-term bears, as long as 0.9200 and yesterday’s low at 0.9182 hold.
Res: 0.9300, 0.9323, 0.9345, 0.9381
Sup: 0.9271, 0.9254, 0.9227, 0.9210
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains within near-term 1.3144/1.3243 consolidative range, with hourly studies building up momentum, following gap higher opening. The notion is supported by last Friday’s Doji that may signal basing attempt, however, break above range top at 1.3243 is seen as initial requirement, with regain of more significant 1.3300, previous base and near 50% of 1.3431/1.3144, required to confirm. Conversely, bearish continuation through 1.3144, also 90 day MA, would open 1.3100 and 1.3061, 50% of 1.2660 /1.3710 upleg.
Res: 1.3243, 1.3253, 1.3287, 1.3300
Sup: 1.3174, 1.3144, 1.3100, 1.3061
GBP/USD
Cable ticks higher following last Friday’s fall from 1.5300 zone and overnight’s gap lower opening that posted fresh 1 ½ low at 1.5069. Technical correction is attempting to fill the overnight gap that may trigger stronger recovery, however, only break above 1.5300 zone would have more significant impact and sideline bears. Otherwise, test of psychological 1.5000 support is seen as near-term scenario, with break here to shift focus towards 1.4230, 2010 low. Weekly close at 1.5190, reinforced by 20 day EMA and 50% of 1.5315/1.5069 is seen as breakpoint.
Res: 1.5163, 1.5190, 1.5221, 1.5257
Sup: 1.5114, 1.5100, 1.5069, 1.5000
USD/JPY
The pair skyrocketed on weekly over 100 pips gap-higher opening and posted fresh 22-month high at 94.55, aiming towards near-term target at 94.97, 2010 high. Break above recent range, sees potential for fresh extension higher, as 94.00 zone offers initial support. Only filling the overnight gap and fall below Friday’s closing price, would signal false break, while key near-term support lies at 92.00 base and break here is required to bring bears in play.
Res: 94.29, 94.45, 94.55, 94.97
Sup: 94.00, 93.87, 93.66, 93.50
USD/CHF
Near-term structure shows signs of fatigue, as the price attempts below consolidation range floor at 0.9280, after failing to sustain gains above important 0.9300 barrier. Hourly structure is turning negative, while larger picture technical still maintain positive tone and would allow pullback towards 0.9240, Fib 61.8% of 0.9181/0.9332 upleg / 55 day EMA, while only loss of 0.9200 handle would increase risk of stronger reversal of near-term 0.9020/0.9332 recovery.
Res: 0.9300, 0.9315, 0.9332, 0.9345
Sup: 0.9256, 0.9240, 0.9217, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains in a near-term consolidative mode, moving within 100 pips range. Hourly structure is negatively aligned, as 55 day EMA limits the upside and price holds below 1.3120/40, range top / Friday’s low. Break here would allow for further correction, however, prevailing negative tone on 4h chart, with channel support being cracked, keeps the downside favored. Immediate supports lie at 1.3030, daily Ichimoku cloud base and 1.3017, yesterday’s low, ahead of psychological 1.3000 level, also 04 Jan low, loss of which would open 1.2900 zone, Fib 76.4% of 1.2660/1.3710 ascend. Channel resistance at 1.3280 and 25 Feb peaks 1.3317 are seen as near-term breakpoints.
Res: 1.3100, 1.3121, 1.3144, 1.3167
Sup: 1.3030, 1.3017, 1.3000, 1.2908
GBP/USD
Cable remains weak, as the price returns to weekly lows, following recovery failure at 1.5220, Fib 61.8% of 1.5315/1.5069 downleg. Near-term studies are negative and see potential for further weakness towards initial 1.5000 target are likely. From the other side, bullish MACD / RSI divergence, developing on 4h chart, suggest basing attempt above psychological 1.5000 support that may result in stronger consolidative / corrective action. Upside break above initial 1.5218 barrier, is required to give initial signal, while regain of 1.5300 zone, would sideline near-term bears.
Res: 1.5160, 1.5192, 1.5220, 1.5257
Sup: 1.5080, 1.5069, 1.5000, 1.4950
USD/JPY
The pair consolidates within bearish pennant pattern, following bounce off 90.85, Monday’s fresh one-month low. Break and yesterday’s close below previous strong support at 92.00, keeps the downside favored, with resumption of recent sharp fall, seen on a break below 90.85, also near 50% of 86.81/94.55, to confirm reversal and open 90.00/89.75 next. Conversely, bounce above 92.00 would delay bears and shift near-term focus towards 92.75/93.00 barriers.
Res: 92.00, 92.25, 92.75, 93.14
Sup: 91.62, 91.12, 90.85, 90.67
USD/CHF
The pair remains in a near-term sideways mode, confirmed by yesterday’s Doji and holding below range tops at 0.9330 zone. Hourly bulls are losing traction and see risk of slide below 0.9300 that may risk violation of range floor at 0.9280 and signal stronger pullback. The notion is supported 4h studies that are losing bullish momentum. However, overall bulls from 0.9020 base will remain in play for eventual test of key 0.9381/87 barriers, as long as 0.9200/0.9180, also 50% of 0.9020/0.9325, stay intact.
Res: 0.9337, 0.9348, 0.9381, 0.9387
Sup: 0.9300, 0.9280, 0.9256, 0.9240
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro broke above consolidation top at 1.3120, but gains are still limited under 50% of 1.3317/1.3017 fall and for now, insufficient to confirm reversal, signaled by Doji and big white candle, seen on 26/27 Feb. Positive hourly structure sees the upside favored for now, with stretch towards 1.3200/25 zone, Fib 61.8% / daily Ichimoku cloud top and Tenkan-sen line. Overall bearish tone, however, keeps the downside risk in play, with current move seen as corrective and preceding test of 1.3000, next target. Only break above 1.3300/15, channel resistance / 25 Feb peaks, would delay bears in favor of stronger recovery.
Res: 1.3167, 1.3200, 1.3215, 1.3246
Sup: 1.3124, 1.3100, 1.3039, 1.3017
GBP/USD
Cable remains entrenched within 1.5069/1.5218 consolidative range, with near-term studies holding neutral tone. Bullish divergence on 4h chart so far did not produce any significant gains, as the pair failed to capitalize in filling Monday’s gap. With 20 day EMA limiting the upside and 4h studies still lacking momentum, the downside remains vulnerable. Upside break above 1.5218 would delay bears that dominate on larger timeframes studies, however, only clearance of 1.5315, 22 Feb double-top, would prevent the pair sliding towards initial target at 1.5000.
Res: 1.5190, 1.5220, 1.5257, 1.5315
Sup: 1.5150, 1.5120, 1.5080, 1.5069
USD/JPY
Near-term structure improves, as the price moves towards the upper boundary of consolidation range at 92.70. Break and close above important 92.00 resistance, previous base, would signal stronger reversal of sharp 94.55/90.85 fall, as 92.70 marks 50% of entire downleg, where also 55day EMA lies. However, weak 4h studies do not see much potential for stronger rebound that requires regain of 93.00 barrier, to re-focus 94.55 and 94.97, 2010 high. On the downside, loss of 92.00 handle will be seen as initial signal of weakness, but break below 90.85/67 is to confirm reversal from 94.55 and open next downside target at 90.00.
Res: 92.70, 93.14, 93.68, 94.00
Sup: 92.16, 92.00, 91.62, 91.12
USD/CHF
Larger picture bulls remain intact for now, however, near-term studies are lacking momentum for break above one-week range top at 0.9330 zone. Hourly structure is getting negatively aligned, as the price attempts at range floor at 0.9280, with 4h studies losing traction that keep the downside at risk. Downside break of 0.9280/50 supports is to further weaken the structure, while loss of pivotal 0.9200 zone will put near-term bulls aside. Alternative scenario sees break above 0.9330 as a trigger for bullish extension towards key barriers and near-term targets at 0.9381/87.
Res: 0.9300, 0.9326, 0.9337, 0.9381
Sup: 0.9280, 0.9256, 0.9240, 0.9200
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro regains strength after yesterday’s spike to 1.3072 and quick return to 1.3000, where support was found. Hourly structure holds slight positive tone, as the price attempts at 50% of 1.3133/1.2950 fall and previous high, however, 4h studies are lacking momentum, with upside being limited by 55 day EMA. Overall, near-term price action is in sideways mode, as shown on 4h chart and entrenched within 1.3160/1.2950 range, consolidating the recent losses. Larger picture bears are still in play and see the downside vulnerable, as loss of 1.2950 would open 1.2900 and 1.2875, 50% retracement of larger 1.2042/1.3710 upleg. Conversely, clearance of 1.3133/60 barriers, would sideline bears and allow for stronger recovery.
Res: 1.3052, 1.3072, 1.3100, 1.3133
Sup: 1.3013, 1.2985, 1.2950, 1.2900
GBP/USD
Cable trades in a near-term corrective mode, after bounce from yesterday’s fresh low at 1.4830, recovered over 50% of 1.5046/1.4830 fall at 1.4951, testing the initial resistance at 1.4950/60 zone. Hourly indicators moved in the positive territory, however, 4h structure still sees prevailing negative tone that, along with double-Doji candle, may produce further consolidation, while psychological 1.5000 and 1.5046, 08 Mar high, cap. Overextended daily studies may signal stronger rebound ahead, with clearance of 1.5000/46, seen as trigger. Upside rejection, however, would risk fresh extension of larger bear-trend and expose 1.4800, initially.
Res: 1.4960, 1.5000, 1.5050, 1.5080
Sup: 1.4900, 1.4865, 1.4830, 1.4800
USD/JPY
The pair remains under pressure, as fresh weakness below yesterday’s low at 95.63, threatens for extension of near-term corrective pullback from 96.70, yesterday’s fresh high. Descending 4h chart indicators and hourlies already in the red territory, support such scenario and focus the next target at 95.25, Fib 38.2% of 92.90/96.70 upleg, ahead of 94.80, 50% retracement / 55 day EMA. Overall bulls, however, remain intact for now and keep the next target at 97.00 in near-term focus, once corrective pullback is over. Only slide below previous strong barrier at 94.50 zone, would delay bulls.
Res: 96.00, 96.26, 96.70, 97.00
Sup: 95.25, 95.00, 94.84, 94.55
AUD/USD
Near-term structure holds positive tone, as the price attempts at yesterday’s highs at 1.0330 zone, after brief consolidation was contained above psychological 1.3000 level. Positive near-term studies favor further recovery off 1.0114 fresh low and turn focus towards 1.0356,/73, 200 day MA / 50% of 1.0597/1.0114 / 15 Feb high, seen as initial target. Downside should stay protected at 1.0300 to keep bullish structure intact.
Res: 1.0335, 1.0356, 1.0373, 1.0400
Sup: 1.0300, 1.0284, 1.0265, 1.0253