Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 32
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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)
EUR/USD
Continues to trade below 1.3757, fresh two-month high, hovering at 1.37 area. Immediate support at 1.3670/40 needs to hold to keep 1.3757/84 targets in play, otherwise, risk is seen of deeper correction towards 1.3573/39. Only loss of 1.3420/00 zone would signal fresh weakness and expose key support at 1.3245.
Res: 1.3744, 1.3757, 1.3784, 1.3800
Sup: 1.3678, 1.3636, 1.3573, 1.3539
GBP/USD
Recovery attempt from 1.5750, 25 Jan higher platform, stalled on approach to 1.6016 resistance at 1.5989. Reversal has so far found support at 1.5852, though fresh gains from here so far unable to regain 1.5989. Break through 1.5965/89 is needed to resume recovery, while loss of 1.5850/40 support zone would signal return back to 1.5750.
Res: 1.5965, 1.5989, 1.5910, 1.5936
Sup: 1.5852, 1.5841, 1.5819, 1.5768
USD/JPY
Broke below 82.50 support to fully retrace the recent 82.00/83.20 rally. 82.10/00 zone, trendline support / previous low, have so far contained the latest dip, though break below 82.00/81.84 would signal an end of recovery phase from 80.92 and turn immediate focus lower. Upside, regain of 83.00/20 zone is needed to spark fresh rally towards 83.45/67, key near-term resistances.
Res: 82.60, 82.92, 83.07, 83.20
Sup: 82.10, 81.97, 81.84, 81.67
USD/CHF
Continues to trend lower after recovery attempt from 0.9301, historical low, failed at 0.9782, and subsequent reversal almost fully retraced the recent 0.9301/0.9782 upleg, reaching 0.9388 thus far. Pair is currently trading in a narrow consolidative range, with bounces higher seen limited by 0.9520 zone, ahead of fresh attempt at 0.9301. Above 0.9520 to trigger recovery, though clearance of 0.9620/85 needed to re-focus 0.9782.
Res: 0.9468, 0.9480, 0.9493, 0.9520
Sup: 0.9418, 0.9401, 0.9388, 0.9365
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Regained strength after the sharp reversal, following an upside rejection at 1.3757, found support at 1.3570. The latest fall has nearly been fully retraced, though clear break above 1.3757 to confirm. Immediate target lies at 1.3784, ahead of 1.3838, 76.4% retracement of 1.4280/1.2872 down move. Longer-term descending trendline, connecting 1.5144 and 1.4280 peaks and currently standing at 1.4044, is seen as key short-term resistance. Downside, 1.3570/39 area offers initial support, and expected to contain dips, to keep immediate bulls in play, otherwise, further losses into 1.34 zone would be likely scenario.
Res: 1.3757, 1.3784, 1.3824, 1.3838
Sup: 1.3662, 1.3636, 1.3600, 1.3570
GBP/USD
Has fully retraced the recent leg lower from 1.6058, after finding ground at 1.5750 and fresh bulls breaking through 1.6058, key near-term resistance. This signals an end of corrective phase off 1.6297 and opens way for test of 1.6093, 19 Nov 2011 high and 1.6166, longer term trendline, drawn off 1.7041, 2009 high. Downside, 1.5820/1.5750 underpin the advance and only loss of the latter to weaken short-term structure.
Res: 1.6078, 1.6093, 1.6166, 1.6200
Sup: 1.6003, 1.5989, 1.5965, 1.5911
USD/JPY
Recent failure to sustain gains above 83.00 zone has triggered fresh weakness through 82.10, triangle support and attempt through 81.84, key near-term support, to suggest an end of recovery phase from 80.92 and extension of broader downtrend from 84.49, confirming lower top at 83.67, Immediate downside target lies at 80.92, key short-term support , ahead of possible return to 80.24, multi-year low, posted on Nov 2010.open way for retest of 80.92, 03 Jan 2011 low. Upside, 83.20 caps for now.
Res: 82.14, 82.24, 82.46, 82.70
Sup: 81.74, 81.67, 80.92, 80.24
USD/CHF
Maintains negative tone after the latest recovery attempt from 0.9301, historical low failed at 0.9782, with subsequent weakness clearing the last support at 0.9413, 76.4% retracement of 0.9301/0.9782 ascend, and opening way for attack at key 0.9301 support. Loss of the latter would signal and extension of the broad downtrend and fresh phase lower to expose psychological levels at 0.9200/0.9100. Only regain of 0.9620/80 would put immediate bears on hold and keep alive hopes of fresh recovery.
Res: 0.9447, 0.9468, 0.9480, 0.9493
Sup: 0.9367, 0.9306, 0.9301, 0.9250
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Extends gains off 1.3570 higher low, surging through 1.3784, Nov 2010 lower high and 1.38 barrier, to post fresh 3-month high at 1.3860 overnight. Immediate resistances lie at 1.3886 and 1.3938, 76.4% of 1.4280/1.2872, ahead of key longer-term descending trendline, currently at 1.4039. Clearance of the latter will open way for retest of 1.4280, key lower high of the broader downtrend from 1.6039. Bulls are firmly in play, but entering overbought zone, suggesting correction would precede fresh push higher. Downside, 1.3760 offers initial resistance, while loss of 1.37 to sour near-term structure. However, only below 1.3570 would sideline immediate bulls in favor of stronger correction.
Res: 1.3860, 1.3886, 1.3938, 1.4039
Sup: 1.3812, 1.3776, 1.3757, 1.3725
GBP/USD
Strong rally from 1.5821, 31 Jan higher low, has so far cleared 1.6058/1.61 barriers, to dent key longer-term trendline resistance at 1.6166. Sustained break here is needed to expose 1.6297, 31 Oct 2010 high and signal resumption of recovery from 1.4230, May 2010 low. Immediate supports lie at 1.6058/15, with dips contained above here, otherwise, potential is for deeper reversal towards 1.59 zone.
Res: 1.6211, 1.6297, 1.6430, 1.6456
Sup: 1.6127, 1.6080, 1.6058, 1.6036
USD/JPY
Extends short-term downtrend from 83.67 after the latest recovery attempt failed at 83.20 and fresh weakness broke below 81.84, key near-term support, to reach 81.30, fresh one-month low today. Immediate downside target lies at 80.92, 2011 low and key support, loss of which is expected to open way towards 80.24, Nov 2010 15-years low. Upside, 81.84 offers immediate resistance, while only regain of 83.20 improves short-term structure.
Res: 81.84, 81.90, 82.14, 82.24
Sup: 81.30, 81.21, 80.92, 80.52
USD/CHF
Maintains negative tone after the latest recovery attempt from 0.9301, historical low failed at 0.9782, with subsequent weakness clearing the last support at 0.9413, 76.4% retracement of 0.9301/0.9782 ascend, posting fresh lows en-route to key 0.9301 support. Loss of the latter would signal and extension of the broad downtrend and fresh phase lower to expose psychological levels at 0.9200/0.9100. Upside, 0.9450/80 zone caps for now.
Res: 0.9367, 0.9417, 0.9447, 0.9468
Sup: 0.9327, 0.9306, 0.9301, 0.9250
Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)
EUR/USD
Trades in a near-term corrective/consolidative mode after the latest rally reached fresh 3-month high at 1.3860. Dips broke below 1.38 level, though further extension into 1.3760/50 is seen corrective, ahead of fresh attempt higher. Above 1.3860 to target 1.3886/1.3938, with test of key 1.4039, trendline resistance, seen short-term. Only loss of 1.3750, 38.2% of 1.3570/1.3860 would anticipate deeper correction and focus 1.3715/1.3680. Short-term, 1.3570 remains key support.
Res: 1.3844, 1.3860, 1.3886, 1.3938
Sup: 1.3787, 1.3750, 1.3725, 1.3715
GBP/USD
Surged through 1.32 barrier today, after clearing 1.6166, longer-term trendline resistance, to reach 1.6228 so far. Intraday studies remain supportive for final thrust towards 1.6297, key short-term resistance, break of which is required to trigger fresh phase higher and confirm higher low at 1.5343. Overbought conditions, however, may see corrective pullback preceding fresh strength. Immediate supports lie at 1.6120/1.6080 and is expected to contain corrective dips, otherwise, deeper correction below 1.6000 would be likely.
Res: 1.6228, 1.6297, 1.6430, 1.6456
Sup: 1.6127, 1.6080, 1.6058, 1.6036
USD/JPY
Continues to trade in a near-term consolidative mode after bears extended to post fresh low of 81.30 yesterday, just above 80.92, key short-term support. Intraday studies remain bearish, looking for further losses, with break below 80.92 to expose 80.24, 15-year low. Hourly studies, however, see scope of possible near-term basing above 81.30, though minimum of 81.84/82.24 should be regained to confirm recovery attempt.
Res: 81.84, 81.90, 82.14, 82.24
Sup: 81.30, 81.21, 80.92, 80.52
USD/CHF
Maintains negative tone after the latest recovery attempt from 0.9301, historical low failed at 0.9782, with subsequent weakness clearing the last support at 0.9413, 76.4% retracement of 0.9301/0.9782 ascend, posting fresh lows en-route to key 0.9301 support. Market posted fresh low at 0.9327, with subsequent recovery attempt failure at 0.9395, keeping bears firmly in play, and loss of 0.9301 to signal extension of the broad downtrend and fresh phase lower. Upside, 0.9450/80 zone caps for now.
Res: 0.9367, 0.9395, 0.9417, 0.9447
Sup: 0.9327, 0.9306, 0.9301, 0.9250