Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 41
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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Loses ground after failure to clear 1.45 barrier, with fresh weakness losing 1.44/1.4364 supports, to hit fresh one week low at 1.4348. Consolidation under 1.44 barrier is now under way, but negative hourly conditions see scope for further easing towards 1.4300 and strong support at 1.4240. 20 day MA, currently at 1.44 maintains bear trend, with break above here to possibly signal fresh strength.
Res: 1.4400, 1.4420, 1.4454, 1.4469
Sup: 1.4364, 1.4348, 1.4300, 1.4290
GBP/USD
Recovery attempt from 1.6226 higher platform remains capped by 1.6380, with subsequent easing returning below 1.63 handle. Market is looking for renewed attempt at 1.6250/26 support zone, as hourly studies turned negative, with loss of the latter to signal lower top at 1.6380, ahead of fresh weakness towards 1.6175/1.6090. On the upside, 1.6324 caps for now.
Res: 1.6309, 1.6324, 1.6369, 1.6382
Sup: 1.6253, 1.6236, 1.6226, 1.6200
USD/JPY
Remains on a back foot after losing 200 day MA and 83.00 support, with immediate target at 82.55/00, 31 Mar low / 38.2% retracement of 76.32/85.50 upleg. Negative near-term conditions support fresh weakness, but oversold hourly conditions suggest correction, before fresh leg lower, with 83.77 expected to cap.
Res: 83.25, 83.42, 83.77, 83.92
Sup: 82.70, 82.55, 82.00, 81.83
USD/CHF
Trades in a narrow consolidative range after extending losses below 0.8900, previous low, to hit fresh all-time low at 0.8894. Immediate resistance at 0.8990 needs to be cleared, to signal fresh recovery under way, and focus 0.9060/0.9100. On the downside, loss of 0.8920, range floor will, however, signal fresh weakness, with break below 0.8894 needed to confirm.
Res: 0.8968, 0.8990, 0.9017, 0.9060
Sup : 0.8929, 0.8920, 0.8906, 0.8894
Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Extends rally from 1.4156 higher low, clearing 1.4380, Fibonacci 61.8% retracement and 1.44 barrier, looking for test of 76.4% retracement at 1.4435 and 1.4454, 15 Apr intraday high, ahead of possible attempt at key barriers at 1.4500/18. Break here is needed to resume bulls and open 1.4579, 2010 high, next. Overbought hourly conditions, however, warn of corrective pullback, with 1.4330/00 zone expected to contain dips and maintain immediate bulls.
Res: 1.4412, 1.4435, 1.4454, 1.4500
Sup: 1.4382, 1.4330, 1.4315, 1.4300
GBP/USD
Maintains near-term positive tone after loss of 1.6226 support extended decline to 1.6165, where a good support was found for fresh attempt higher. Regain of 1.63 handle has so far seen 1.6365 high, with 1.6382, 14 Apr high in sight, ahead of eventual attack at key resistances at 1.6400/26, above which will signal a resumption of broader uptrend and open 1.6456, 2010 high, next. Initial support lies at 1.63 zone.
Res: 1.6382, 1.6400, 1.6426, 1.6456
Sup: 1.6328, 1.6312, 1.6300, 1.6257
USD/JPY
Recovery attempt from 82.17 low broke above 4-hour 20 day MA at 82.87, to briefly break above 83.00 barrier. This signals fresh recovery towards 83.25 and strong resistance at 83.77, 15 Apr high, with 82.65 expected to hold dips, to maintain near-term positive tone.
Res: 83.09, 83.25, 83.42, 83.77
Sup: 82.65, 82.31, 82.17, 82.00
USD/CHF
Brief break above 0.9000 barrier was capped by 55 day MA at 0.9011, with reversal below 20 day MA, currently at 0.8960, under way. This turns immediate tone negative, and opens 0.8900/0.8894 lows for retest. Loss of the latter will signal a resumption of broader downtrend and open way towards 0.8800 zone. Only sustained break above 0.9000 would improve the outlook.
Res: 0.8975, 0.9006, 0.9017, 0.9060
Sup : 0.8945, 0.8920, 0.8904, 0.8894