Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 31

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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD

Reversal from 1.3457, 14 Jan peak has found support at 1.3243, just above 38.2% retracement of 1.2872/1.3457 ascend, ahead of fresh strength. Break above 1.3400 barrier now looks for retest of 1.3457, ahead of key 1.35 resistance, break of which is needed to spark fresh phase higher. Immediate support lies at 1.33 zone, while possible loss of 1.3243 would put test of 1.35 on hold and signal deeper correction towards 1.3165.

Res: 1.3427, 1.3457, 1.3497, 1.3530

Sup: 1.3341, 1.3313, 1.3302, 1.3252

GBP/USD

Clearance of 1.5910, key near-term support has triggered fresh gains through 1.60, to hit 1.6058 high so far. Corrective pullback on overbought studies should be contained by 1.58 zone to keep immediate bulls in play, and through 1.6058 to target 1.6080/90.

Res: 1.6014, 1.6058, 1.6080, 1.6095

Sup: 1.5953, 1.5904, 1.5885, 1.5868

USD/JPY

Upside rejection at 83.67 and reversal of nearly 50% of 80.92/83.67 upleg suggests near-term top, ahead of further extension lower, with break below 82.30 to look for test of 82.00/81.65 zone, and possible return to 80.92, key short-term support. Upside, regain of 83.00 is needed to improve the tone for 83.45 and 83.67 retest.

Res: 82.79, 83.05, 83.14, 83.45

Sup: 82.27, 82.00, 81.67, 81.27

USD/CHF

Break below the latest consolidation floor at 0.9594, following an upside rejection at 0.9782, now suggests further reversal. Market has so far reached 0.9555, just above 50% retracement of 0.9301/0.9782 upleg, and break here to focus 0.9486, 61.8% next, loss of which would signal an end of corrective phase off 0.9301. Early downside rejection, however, would suggest higher low, though regain of 0.9685/0.9705 zone is required to confirm.

Res: 0.9600, 0.9630, 0.9685, 0.9705

Sup: 0.9555, 0.9540, 0.9515, 0.9486

 
 
 
 
 
 

Windsor Brokers - Short Term Technical Analysis for Majors 14:00 GMT)

EUR/USD

Corrects lower after the latest push higher reached fresh high at 1.3685. Temporary support was found at 1.3627, ahead of key near-term support at 1.3539. Break above 1.3685 to trigger fresh strength towards 1.3738 and 1.3784. Loss of 1.3539, however, would suggest stronger reversal towards 1.3465 and 1.3400 zone.

Res: 1.3637, 1.3685, 1.3738, 1.3784

Sup: 1.3673, 1.3539, 1.3465, 1.3412

GBP/USD

Upside rejection at 1.6020 zone has triggered reversal, with loss of first support at 1.5920, accelerating decline through 1.5837/00 zone, to reach 1.5750 low so far. This turns near-term outlook negative, with correction higher expected to precede fresh weakness. 1.5835/65 offer initial resistance, though, regain of 1.5920 to suggest retest of 1.6020, possibly 1.6058 on a break. Downside, 1.5716, 120 days MA offers initial support, ahead of 1.5660/20 zone.

Res: 1.5837, 1.5865, 1.5920, 1.6016

Sup: 1.5750, 1.5716, 1.5700, 1.5660

USD/JPY

Upside remains capped for now after fresh strength from 81.84 failed just under trendline resistance at 83.22. While holding below the latter, focus remains on test of 81.84, loss of which would signal an end of short-term recovery attempt from 80.92, and expose 81.67 next. Break above 83.10, however, opens way for further gains and possible retest of 83.67, clearance of which is required to resume recovery and expose key short-term resistance at 84.49.

Res: 82.63, 82.76, 83.11, 83.45

Sup: 82.25, 81.84, 81.67, 81.51

USD/CHF

Fresh weakness on upside failure at 0.9685, broke below 0.9518/00 support zone, to extend losses to 0.9422 so far. This signals a possible end of recovery attempt from 0.9301, historical low. Corrective attempts are seen capped by 0.9520, while only regain of 0.9621 would signal fresh recovery. Downside, below 0.9420/00, targets 0.9365/01.

Res: 0.9493, 0.9520, 0.9550, 0.9565

Sup: 0.9420, 0.9400, 0.9365, 0.9301

 
 
 
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