Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 10
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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Attempts to build a recovery phase off 1.2142/53, 19/27 May double bottom, but only breakout of 1.2671, 21 May swing high, completes the bullish pattern. Until then, 1.2415/80 may obstruct gains for a lower top.
Res: 1.2394, 1.2415, 1.2445, 1.2480
Sup: 1.2280, 1.2242, 1.2203, 1.2153
GBP/USD
Recovery off 1.4230/57 was capped by 1.4606 yesterday, with reversal underway. Short-term bulls remain intact while trendline support, currently at 1.4462 holds. Otherwise, stronger correction into 1.4401/1.4365 is likely. Upside, clearance of 1.4606/39 is needed to open way for key 1.4719, break of which would resume recovery.
Res: 1.4606, 1.4639, 1.4702, 1.4719
Sup: 1.4462, 1.4447, 1.4401, 1.4365
USD/JPY
Firmed off 89.80 higher low, breaking through key 90.66/63 resistances. This firms the short-term recovery structure off 88.95 for gains towards 91.88, possibly 92.14 on a break. Reversal below 90.66/20 ends recovery and risks 89.91/58 instead.
Res: 91.54, 91.86, 92.14, 92.42
Sup: 90.66, 90.19, 89.91, 89.80
USD/CHF
Shallow correction from 1.1694, 25 May yearly high, precedes a likely push higher to challenge 1.1785, trendline drawn off Feb 2006 high. Support at 1.1449 now keeps immediate bulls in play, with break above 1.1655 needed to confirm fresh swing higher.
Res: 1.1655, 1.1694, 1.1725, 1.1742
Sup: 1.1481, 1.1449, 1.1417, 1.1402
Windsor Brokers - Short Term Technical Analysis for Majors (08:15 GMT)
EUR/USD
Retains negative structure while holding below 1.2671, 21 May lower top. The latest push higher off 1.2153 stalled at 1.2451 on Friday, with subsequent pullback extending losses under 1.2281 support and neutralizing near-term recovery attempt. Focus is now at 1.2259, break of which opens 1.2202/1.2153, ahead of key support zone at 1.2142/34. Back above 1.2451 to revive recovery.
Res: 1.2381, 1.2393, 1.2451, 1.2480
Sup: 1.2259, 1.2202, 1.2153, 1.2142
GBP/USD
Recovery off 1.4230/57 stalled at renewed attempt at 1.4610 on Friday, ahead of reversal. Break through 1.4460, trendline support, has triggered decline to 1.4399 thus far. Higher low above 1.4257 is required to keep bulls in play, though, only clearance of 1.4610 would resume rally. Otherwise, stronger correction into 1.4365/1.4257 and final attempt through 1.4230 would be likely scenario.
Res: 1.4527, 1.4592, 1.4610, 1.4639
Sup: 1.4441, 1.4399, 1.4365, 1.4329
USD/JPY
Further retracement of 93.62/88.95 fall to 91.85, 61.8% retracement / 20 May high, is likely while trading above 90.58. Gains are temporary and recoil below 89.80/69, 27 May low / trendline support, would trigger fresh weakness towards 88.95.
Res: 91.61, 91.86, 92.14, 92.42
Sup: 90.58, 90.19, 89.91, 89.80
USD/CHF
Shallow correction from 1.1694, 25 May yearly high, precedes a likely push higher to challenge 1.1785, trendline drawn off Feb 2006 high. Support at 1.1479/49 now keeps immediate bulls in play, with break above 1.1655 needed to confirm fresh swing higher.
Res: 1.1623, 1.1655, 1.1694, 1.1725
Sup: 1.1522, 1.1479, 1.1449, 1.1417
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Holding below 1.2451, 28 May spike high, confirms the bear structure as the market continues to consolidate above the key 1.2153/34 region. Break here is needed to trigger a fresh phase lower. Upside, 1.2334 caps for now. Only regain of 1.2451/80 firms.
Res: 1.2334, 1.2381, 1.2393, 1.2451
Sup: 1.2176, 1.2153, 1.2142, 1.2134
GBP/USD
Continues corrective / consolidative phase off 1.4230 annual low, with 1.4610 limiting the upside for now. 1.4399/65 offers immediate support for fresh attempt higher, and break above 1.4610 to open 1.4639/1.4701 next. Below 1.4365, however, to favor a possible return to 1.4257/30.
Res: 1.4547, 1.4592, 1.4610, 1.4639
Sup: 1.4437, 1.4399, 1.4365, 1.4329
USD/JPY
Maintains positive structure off 88.95/89.21, with 91.21 seen so far. Reversal is now under way, with immediate support standing at 90.58, and higher low above there is needed to resume recovery. Otherwise, break below 90.58 would extend correction and target next significant levels at 89.91/80.
Res: 91.61, 91.86, 92.14, 92.42
Sup: 90.58, 90.19, 89.91, 89.80
USD/CHF
Break up through 1.1592/1.1623 completes a bull flag that resumes underlying strength. Today's low at 1.1522 now underpins advance, through 1.1655/94, to target key 1.1774 trendline drawn off Feb 2006 high.
Res: 1.1655, 1.1694, 1.1725, 1.1742
Sup: 1.1522, 1.1479, 1.1449, 1.1417
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Holding below 1.2451, 28 May spike high, confirms the bear structure as the market continues to consolidate above the key 1.2153/34 region. Break here is needed to trigger a fresh phase lower. Upside, 1.2334 caps for now. Only regain of 1.2451/80 firms.
Res: 1.2334, 1.2381, 1.2393, 1.2451
Sup: 1.2176, 1.2153, 1.2142, 1.2134
GBP/USD
Continues corrective / consolidative phase off 1.4230 annual low, with 1.4610 limiting the upside for now. 1.4399/65 offers immediate support for fresh attempt higher, and break above 1.4610 to open 1.4639/1.4701 next. Below 1.4365, however, to favor a possible return to 1.4257/30.
Res: 1.4547, 1.4592, 1.4610, 1.4639
Sup: 1.4437, 1.4399, 1.4365, 1.4329
USD/JPY
Maintains positive structure off 88.95/89.21, with 91.21 seen so far. Reversal is now under way, with immediate support standing at 90.58, and higher low above there is needed to resume recovery. Otherwise, break below 90.58 would extend correction and target next significant levels at 89.91/80.
Res: 91.61, 91.86, 92.14, 92.42
Sup: 90.58, 90.19, 89.91, 89.80
USD/CHF
Break up through 1.1592/1.1623 completes a bull flag that resumes underlying strength. Today's low at 1.1522 now underpins advance, through 1.1655/94, to target key 1.1774 trendline drawn off Feb 2006 high.
Res: 1.1655, 1.1694, 1.1725, 1.1742
Sup: 1.1522, 1.1479, 1.1449, 1.1417