Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 24
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Windsor Brokers - Short Term Technical Analysis for Majors (08:45 GMT)
EUR/USD
Clearance of 1.3690 pivot and positive studies open further upside, with 1.3800/16, 161.8% Fibonacci extension of 1.3332/1.2586 downleg/ March high, seen next. Downside, 1.3571/58 expected to hold corrective dips and possible break here to delay bulls.
Res: 1.3730, 1.3741, 1.3780, 1.3800
Sup: 1.3602, 1.3571, 1.3555, 1.3520
GBP/USD
Upside rejection at 1.5921 has triggered sharp reversal through 1.5761/17 supports, to reach 1.5668, ahead of current bounce. This is seen corrective while 1.5921 remains intact and risks lower top for fresh weakness for retest of 1.5610/02 zone. Only above 1.5921 firms for 1.5997.
Res: 1.5824, 1.5873, 1.5894, 1.5921
Sup: 1.5702, 1.5668, 1.5640, 1.5610
USD/JPY
Maintains negative tone from 85.92/38, 17 Sep high/24 Sep lower high, with break below 83.55, 76.4% retracement of 82.86/85.92 upleg, now looking for retest of 82.86, year-to-day low. Break here would trigger further weakness and expose 81.77, May 1995 low. Upside, 83.63/80 caps for now.
Res: 83.63, 83.80, 84.07, 84.33
Sup: 83.15, 82.86, 82.30, 81.77
USD/CHF
Extended decline off 1.0181 to post fresh low of 0.9706, ahead of bounce. 0.9841 seen so far, though break above 0.9800/30 is needed to ease bear pressure and open way for stronger recovery. Otherwise, break below 0.9706 will look for test of 0.9630 initially.
Res: 0.9841, 0.9876, 0.9900, 0.9930
Sup: 0.9766, 0.9749, 0.9732, 0.9706
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Surged through key 1.4027 resistance to extend gains through 1.4100 barrier, reaching 1.4121 so far. Shallow correction followed, with fresh push above 1.4121 to target 1.4195, 25 Jan high. Overbought daily studies see scope for correction, with 1.3911/1.3774 support area expected to hold dips to keep near-term bulls in play.
Res: 1.4086, 1.4106, 1.4121, 1.4180
Sup: 1.4008, 1.4000, 1.3953, 1.3911
GBP/USD
Extended strength off 1.5754, breaking through 1.6016, to reach 1.6065, just ahead of 1.6070 target. Further gains look for test of 1.6180, 29 Jan high, with 1.6250 seen on a break. Downside, 1.5970/45 offers immediate support, ahead of key near term support at 1.5870 (61.8%).
Res: 1.6050, 1.6065, 1.6070, 1.6100
Sup: 1.5970, 1.5945, 1.5907, 1.5870
USD/JPY
Extends losses through 81.37, previous low to complete a three-day pennant, and post fresh 15-year low at 80.88 yesterday. Correction higher is so far capped by 81.66, with fresh weakness through 80.88 to expose 79.75, 1995 all-time low. Only break above 82.00/34 would ease immediate bear pressure.
Res: 81.66, 81.83, 82.00, 82.34
Sup: 80.88, 80.50, 80.00, 79.75
USD/CHF
Maintains negative structure after breaking below previous low at 0.9553, to hit fresh all-time low at 0.9461 yesterday. Correction is under way, with 0.9565/0.9607 expected to cap, as major bear flag on daily chart continues to project further losses.
Res: 0.9565, 0.9607, 0.9640, 0.9726
Sup: 0.9509, 0.9461, 0.9400, 0.9350
Windsor Brokers - Short Term Technical Analysis for Majors (08:20 GMT)
EUR/USD
Extended reversal from 1.4156 spike high, after leaving a lower top at 1.4003 and falling through key near-term support at 1.3774. This has completed and hourly head and shoulders pattern, reaching 1.3696 low, ahead of bounce. This is seen corrective while 1.4003 hold, with lower top below here ahead of fresh weakness through 1.3696 towards 1.3636, 05 Oct low, seen as likely scenario.
Res: 1.3830, 1.3883, 1.3957, 1.4003
Sup: 1.3696, 1.3680, 1.3636, 1.3602
GBP/USD
Broke below 1.5754/1.5668 key support levels, as well as testing the trendline off 1.4344, June low, currently at 1.5720, to confirm forming of a top. Market has so far tested 1.5649, with fresh extension towards 1.5610/02, Sep lows/61.8% retracement of 1.5295/1.6105 upleg, now favored. Previous low at 1.5836 should the upside attempts.
Res: 1.5754, 1.5773, 1.5836, 1.5861
Sup: 1.5640, 1.5610, 1.5602, 1.5503
USD/JPY
Corrective/consolidative phase off 80.88 yearly low, failed at 81.91 yesterday, just under one month trendline resistance, ahead of fresh weakness. Break below trendline support at 81.33 now increases risk of retest of 80.88 and fresh weakness. However, higher low above 80.88 would keep hopes of fresh push higher and break through 81.91 to open key near-term resistance at 82.34, 12 Oct high.
Res: 81.66, 81.88, 81.91, 82.34
Sup: 81.12, 80.88, 80.50, 80.00
USD/CHF
Corrective attempt off 0.9461, all-time low, reached 0.9755 high so far, though break above Aug/Oct channel resistance, currently at 0.9800 is required to resume recovery. Correction lower is now under way, with 0.9648/29 offering support, ahead of trendline support at 0.9597. Break here would signal fresh weakness and possible return to 0.9461.
Res: 0.9726, 0.9755, 0.9788, 0.9800
Sup: 0.9658, 0.9648, 0.9629, 0.9597