Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 36
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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Trades in a narrow consolidative range after brief break through psychological barrier at 1.40 failed to sustain gains. Near-term studies remain supportive for fresh attempt at 1.40, with clear break to expose 1.4083/1.4100 next, ahead of key resistance at 1.4280, Nov 2010 lower high and trendline resistance, currently at 1.4307. Overbought daily studies, however, see scope for correction, with 1.3860/30 zone offering initial support.
Maintains positive tone after spike to 1.40 level was followed by sharp reversal to 1.3940. Retest of 1.40 and extension towards 1.4083/1.41 zone on a break remains favored, while 1.3940/24 offers immediate support, while 1.3860, former high, underpins the advance.
Res: 1.4005, 1.4050, 1.4083, 1.4100
Sup: 1.3940, 1.3924, 1.3890, 1.3845
GBP/USD
Reversal from 1.6342, 02 Mar fresh high has so far been contained by 1.6240/30 zone, with fresh strength looking for test 1.63 zone. Sustained break here will open 1.6342 for retest, and possible extension towards 1.6371 and 1.6456. At the downside, loss of 1.6230/14 supports will allow for stronger correction towards key near-term support at 1.6030.
Res: 1.6281, 1.6295, 1.6314, 1.6342
Sup: 1.6234, 1.6214, 1.6185, 1.6132
USD/JPY
Has spiked to 83.05, 61.8% retracement of 83.96/81.57 downleg, ahead of sharp reversal. Previous high at 82.50, now reverted to support, has been lost, turning the near-term tone negative. Break below 82.00 handle will turn focus towards 81.70/57, ahead of 81.10/80.92, key support zone. At the upside, 82.30/50 caps for now.
Res: 82.30, 82.50, 82.75, 82.90
Sup: 81.92, 81.76, 81.57, 81.10
USD/CHF
Recovery attempt from 0.9200 low has so far been capped by 0.9320 zone, with the latest weakness retracing nearly 61.8% of 0.9200/0.9320 ascend, and turning immediate tone negative. However, while above 0.9220, scope exists for fresh recovery attempt, though, regain of 0.9320 is required to confirm, otherwise return to 0.9200 and fresh record lows on a break, would be the likely scenario.
Res: 0.9274, 0.9290, 0.9318, 0.9327
Sup: 0.9221, 0.9200, 0.9150, 0.9100
Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)
EUR/USD
Upside rejection at 1.4035 has triggered fresh weakness under 1.40 zone. After finding initial support at 1.3950, losses accelerated after break here, to probe under 1.39 level. Previous high at 1.3860 is in focus, ahead of 1.3830 and 1.3800, 38.2% retracement of 1.3427/1.4035 ascend, above which higher low is expected, to keep near-term bulls in play for renewed attempt through 1.40 barrier. Otherwise, fresh weakness below 1.38, towards 1.3725/00, would be the next step.
Res: 1.3910, 1.3942, 1.3955, 1.3987
Sup: 1.3860, 1.3845, 1.3803, 1.3725
GBP/USD
Extends reversal from 1.6342 after short consolidation above 1.6180 today. Break below 1.6145, 61.8% retracement of 1.6030/1.6342 ascend, now brings 1.6089/71 in focus, ahead of possible full retracement at 1.6030. Oversold conditions, however, see scope for corrective bounce, with 1.6205 expected to cap, to maintain immediate bears.
Res: 1.6165, 1.6181, 1.6205, 1.6214
Sup: 1.6118, 1.6089, 1.6071, 1.6030
USD/JPY
Returns to strength after sharp reversal from 83.05 spike high dipped to 81.94, where a footstep was found. Clearance of 82.40 now attempt at 83.00 zone, also 61.8% retracement of 83.96/81.57 decline, break of which is needed to confirm recovery mode from 81.57 and re-expose 84.00/84.49 key short-term resistance zone. Failure under 83.05, however, would suggest an end of recovery phase, with loss of 82.20/05, 20 day MA / trendline support, needed to confirm.
Res: 82.85, 83.05, 83.23, 83.52
Sup: 82.45, 82.20, 81.94, 81.76
USD/CHF
Fresh strength from 0.9234 higher low broke above 0.9327 resistance, to confirm near-term floor at 0.9221/00. Focus is now at 0.9415/32, 38.2% retracement / 21Feb former low, break of which is required to confirm recovery and open way towards 0.9504/37 next. Overbought hourly conditions, however, warn of correction, with immediate support at 0.9300/0.9275.
Res: 0.9390, 0.9415, 0.9432, 0.9504
Sup: 0.9333, 0.9320, 0.9302, 0.9275