Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 46
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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)
EUR/USD
Steadies above main trendline off 1.4938, to briefly test 1.4200, Fibonacci level. Break here to open 1.4231/59 next. Caution of hourly studies approaching overbought zone, with potential pullback ideally to reverse at 1.4130/00 zone, to maintain immediate bulls. Hourly 20 day MA at 1.4140 underpins.
Res: 1.4202, 1.4231, 1.4259, 1.4300
Sup: 1.4145, 1.4130, 1.4100, 1.4065
GBP/USD
Clear break above 1.6300 barrier brings near-term bulls fully in play. Initial target at 1.6378 tested so far, with 1.6400/20 in sight and test of 1.6516, key near-term resistance not ruled out. Possible pullback on overbought hourly conditions should be contained above 1.6200, to keep focus higher.
Res: 1.6378, 1.6400, 1.6420, 1.6462
Sup: 1.6334, 1.6300, 1.6273, 1.6250
USD/JPY
Extended reversal after upside failure at 82.20, with sharp fall losing trendline support at 81.55 and strong level at 81.31, to mark over 38.25 retracement of 79.55/82.20 ascend, dipping close to 81.00 support zone. Near-term tone has turned negative, focusing 80.90/60 next, while 81.60 zone limiting the upside for now.
Res: 81.31, 81.50, 81.60, 81.90
Sup: 81.14, 81.00, 80.90, 80.60
USD/CHF
Ends hopes for further recovery after 0.8880/90 zone capped the upside and fresh weakness confirmed lower top at 0.8890 after break below triangle support at 0.8787 extended losses through 0.8746/06 supports, to probe the levels under 0.8700, Fib 61.8% of 0.8550/0.8944 upleg, to reach 0.8646, so far. This brings record low at 85.50 in near-term focus, with corrective attempts seen capped at 0.8730/50 for now.
Res: 0.8716, 0.8730, 0.8746, 0.8780
Sup : 0.8646, 0.8600, 0.8586, 0.8550
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Has regained momentum from 1.3968, to approach 1.3944, 20 May previous high / 38.2% retracement of 1.4938/1.3968 downleg. Gains were so far capped at 1.4330 zone by daily 55 day MA, with pullback expected to find ground above 1.4200 zone, to maintain immediate bulls. Clearance of 1.4344 is required to confirm recovery and open fresh leg higher towards 1.4420/40 resistance zone. Failure to break above 1.4344, however, risks lower top and extension of the downtrend from 1.4938 and potential loss of 1.4080/70, trendline support / 26 May higher low, to focus 1.4000/1.3968 next.
Res: 1.4305, 1.4325, 1.4344, 1.4400
Sup: 1.4256, 1.4200, 1.4170, 1.4125
GBP/USD
Remains well supported above 1.6400 zone, previous range ceiling, with latest rally attempting at 1.6516, key short-term barrier. Corrective pullback on overbought near-term conditions is expected to reverse above 1.6400/1.6380, previous low / 4-hour 20 day MA, ahead of fresh attempt higher. Clear break above 1.6516, to focus 1.6570/80, 04 May high / 76.4%b retracement of 1.6745/1.6057. Loss of 1.6400/1.6380 support zone, would delay immediate bulls and allow for stronger correction into 1.6340/1.6300 zone.
Res: 1.6501, 1.6516, 1.6542, 1.6573
Sup: 1.6460, 1.6400, 1.6380, 1.6334
USD/JPY
Remains at the back foot as upside rejection at 82.20 and fresh decline through trendline support at 81.55 and 80.93 previous low, extended losses to 80.70, strong support, so far. Near-term consolidation is seen here, before fresh leg lower to focus 80.33/15, ahead of psychological support at 80.00 and possible extension lower, to target 79.55, 05 May low. On the upside, 81.10, daily 20 day MA offers immediate resistance and potential break here to signal fresh near-term recovery. However, regain of 82.00/20 zone, daily 55 / 90 day MA / previous high, is needed to confirm.
Res: 80.94, 81.10, 81.28, 81.44
Sup: 80.70, 80.33, 80.15, 80.00
USD/CHF
Maintains strong bear-tone after minor recovery from previous record low at 0.8531 was capped by hourly 20 day MA at 85.90 zone and fresh weakness extended through 0.831 and important support at 0.8500, post new all-time low at 0.8463. Bounce on oversold hourly conditions, faces immediate barrier at 0.8530/50 zone, with regain of minimum 0.8600 needed to ease immediate bear pressure.
Res: 0.8531, 0.8550, 0.8593, 0.8660
Sup : 0.8500, 0.8463, 0.8450, 0.8400
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