Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 50
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Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)
EUR/USD
Extends the short-term downtrend from 1.4548, 29 Aug high, after break below channel support and loss of 1.4200 handle, opening way for test of 1.4100, 11 Aug low, ahead of key short-term support at 1.4056, 05 Aug low. Short-term studies remain bearish and favor further weakness, with break under 1.4056 to signal fresh leg lower and expose 1.4000 zone where daily 200 day MA currently lies. On the upside, 1.4170/1.4200 zone offers initial resistance, while only regain of 1.4258/86 improves.
Res: 1.4135, 1.4169, 1.4182, 1.4200
Sup: 1.4100, 1.4056, 1.4013, 1.4000
GBP/USD
Maintains short-term negative tone after hitting fresh low at 1.6131 on 01 Sep and subsequent recovery attempt being capped by 20 day MA at 1.6250. Fresh weakness is looking for retest of 1.6131, below which to open way for full retracement of 1.6110/1.6617 upleg and break below key short-term support at 1.6110, also near Fib 61.8% of 1.5779/1.6617 ascend, to signal fresh bear phase, with 1.6000 to come in focus. Initial resistances lie at 1.6184/1.6200.
Res: 1.6184, 1.6207, 1.6251, 1.626
Sup: 1.6131, 1.6110, 1.6050, 1.6050
USD/JPY
Returns back to levels under 77.00 mark and broader range trade, after fresh strength from 76.40, range floor, cleared 77.00 barrier, but gains stalled at 77.25. Clearance of 76.40/77.25 range barriers is required to define direction.
Res: 76.95, 77.00, 77.25, 77.68
Sup: 76.68, 76.51, 76.41, 76.30
USD/CHF
Bounces higher after pullback from 0.8239, 29 Aug low, dipped to 0.7710 last Friday, retracing between 38.2% and 50% of 0.7067/0.8239 upleg. Temporary support was found at 0.7710, with 0.7911 seen so far. Upside break above 20 day MA, currently at 0.7962, is required to signal further recovery and open 0.8000 zone for test. On the downside, loss of 0.7710 would signal a return to near-term weakness and open 0.7655, Fib 50% next.
Res :0.7911, 0.7924, 0.7958, 0.7993
Sup: 0.7837, 0.7802, 0.7756, 0.7710
Windsor Brokers - Short Term Technical Analysis for Majors (14:45 GMT)
EUR/USD
The pair trades in a near-term corrective mode after hitting fresh one-month high at 1.3952, earlier today. Corrective pullback has so far tested initial support at 1.3820. Next support level lies at 1.3800, ahead of trendline support at 1.3740, with reversal above here required to keep short-term bulls in play for fresh attempt higher, as near-term studies, still in positive territory, but started pointing lower, do not rule out deeper correction. On the upside, 1.3900/13 offer initial resistance, while break above 1.3952 to focus 1.4000, Fibonacci level.
Res: 1.3870, 1.3900, 1.3913, 1.3952
Sup: 1.3820, 1.3800, 1.3740, 1.3700
GBP/USD
Corrects the latest rally that tested 1.6000, psychological barrier, today. Hourly MACD bearish divergence would signal deeper reversal, with 1.5900 tested so far, below which opens key near-term supports at 1.5850/00, previous high / trendline support. However, reversal above 1.5800 would keep short-term bulls from 1.5271 intact for fresh push towards 1.6000 barrier.
Res: 1.5955, 1.6000, 1.6043, 1.6082
Sup: 1.5900, 1.5850, 1.5800, 1.5752
USD/JPY
The downside remains vulnerable as corrective bounce from 75.80, new record low, was capped by previous range floor at 75.50. Fresh weakness returned to the levels under 76.00 mark, increasing risk of renewed attack at 75.80, blow which to spark fresh bear-leg and open 75.00 next. Upside remains capped at 76.50, with negative near-term studies keeping focus at the downside.
Res: 76.47, 76.55, 76.65, 76.85
Sup: 75.97, 75.80, 75.50, 75.00
USD/CHF
The latest bear-leg extended losses to test 0.8800 zone so far, after completing 4-hour head and shoulders pattern and breaking below the neckline at 0.8920. Bounce on oversold hourly conditions was so far limited under 0.8900 barrier, however, 4-hour MACD bullish divergence may signal further correction, to possibly test 0.8900/50 resistance zone. On the downside, loss of 0.8800 handle to open 0.8755, 200 day MA, next.
Res: 0.8876, 0.8900, 0.8950, 0.9000
Sup: 0.8804, 0.8789, 0.8754, 0.8700