Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 65
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Windsor Brokers - Short Term Technical Analysis for Majors (09:00 GMT)
EUR/USD
Trading in narrow range ahead of a busy day of economical figures, and after fading hopes of stimulus news, the pair managed to rise as high as 1.2330 so far ahead of 1.2350, a break there would open further acceleration towards 1.24010/35 zone, 24th July Low. On the other hand we have seen a higher low action during the past couple of days starting from 1.2225 30th July low up till now. Support levels are found at 1.2280 ahead of 1.2265, while 1.2225 remains the main trigger for bears.
Res: 1.2330, 1.2350, 1.2390, 1.2410
Sup: 1.2280, 1.2265, 1.2225, 1.2170
GBP/USD
Negative outlook remains in play as long as the pair remains below 1.5700 to continue the head & shoulders pattern, another resistance is seen at 1.5730 ahead of medium term barrier of 1.5775, highest point since 22nd May. From the downside support can be visible at 1.5655 ahead of yesterdays low at 1.5625, a break would target 1.5590 and then 1.5550 zone.
Res: 1.5700, 1.5730, 1.5755, 1.5775
Sup: 1.5655, 1.5625, 1.5590, 1.5550
USD/JPY
More volatility than yesterday is seen on the pair after the drop to first support at 77.95 during the Asian session, followed by the rise towards 78.30 zone where the first resistance is visible. A break of the said two points would open a direction for the pair either up towards previous peak of 27th July at 78.68 or below towards 77.65 low of 1st of June.
Res: 78.30, 78.40, 78.65, 78.95
Sup: 77.95, 77.65, 77.35, 76.50
Gold
Trading on a side way action until yesterday’s evening drop towards 1610 gave bulls the momentum to re-enter the market and lift the Gold towards 1620 resistance. Breaking that resistance would open further upside to previous highs of 1627-29 zone and maybe higher towards the upper range of the sideway medium term trend to 1640. On the other hand, holding 1620 would trigger bears to test 1610 and 1600 next, which might open further drop towards 1590 and 1582
Res: 1620, 1629, 1635, 1640
Sup: 1610, 1600, 1590, 1582
Windsor Brokers - Short Term Technical Analysis for Majors (09:00 GMT)
EUR/USD
After the FOMC rate statement the single currency has dropped sharply to 1.2218 few pips lower our initial support at 1.2225 30th July low, hourly oversold conditions could drive the pair higher towards 1.2270 and probably to 1.2284 zone, maintaining those resistance levels would signal further acceleration again lower for another test of 1.2225 and 1.2165 next. Only a break of 1.2284 would signal an uptrend.
Res: 1.2270, 1.2284, 1.2350, 1.2390
Sup: 1.2225, 1.2195, 1.2170, 1.2120
GBP/USD
Still in negative tone, the cable managed to break all three support during yesterdays drop, lowest price reached was 1.5522 ahead of 1.5500 zone. From the upside a corrective action could take place reaching 1.5582 and 1.5622 next, which would open further upside for bulls. Oversold conditions could add a little to the upside to the previously mentioned resistance levels, however, 1.5470 could be in sight ahead of 1.5400 medium term barrier.
Res: 1.5570, 1.5620, 1.5690, 1.5725
Sup: 1.5520, 1.5500, 1.5470, 1.5400
USD/JPY
A rise was established towards 30th July high at 78.54 ahead of previous peak of 29th July high at 78.68, this 15 pips zone would open the path for more acceleration to the upside, if broken, towards 79.15 strong resistance level. Any drop below 78.30/25 level would trigger a negative tone towards 77.95 zone.
Res: 78.55, 78.68, 78.95, 79.15
Sup: 78.30, 78.25, 77.95, 77.65
NZDUSD
Trading in a side way for the past week between 0.8070 and 0.8140 zone, the Kiwi dropped in a sharp move reaching 0.8067 zone ahead of support at 0.8055 19th July high, ahead of 0.8030 support. Holding these supports will keep the positive tone to test the 0.8240 zone 30th April high, however, a break of 0.8143 yesterdays high is needed to confirm bulls. And drop below 0.8030 would signal the go to bears for a drop to 0.07920
Res: 0.8130, 0.8143, 0.8180, 0.8240
Sup: 0.8070, 0.8055, 0.8030, 0.7990
Short Term Technical Analysis for Majors (09:00 GMT)
EUR/USD
The single currency remained below Medium term barrier after a break during yesterdays Monday opening, however, it has not managed to drop lower than 1.2330. Price action is expected to remain neutral unless a moment is build in above 1.2420 to open 1.2505 first zone. A break there would open targets of 1.2555 and 1.2625. on the downside a drop below 1.2330 would open 1.2290, 50% Fibo of 1.2130/1.2442.
Res: 1.2420, 1.2440, 1.2505, 1.2555
Sup: 1.2330, 1.2290, 1.2215, 1.2160
GBP/USD
Trading in neutral trend, cable managed to reach as high as 1.5642 ahead of resistance level of 1.5650, this resistance would open further to the upside for a test of 1.5690 and 1.5730, ahead of medium term barrier of 1.5770. The downside is protected by 1.5560 in which would open 1.5520 and 1.5490 next, the downside medium term barrier remain at 1.5400
Res: 1.5650, 1.5690, 1.5730, 1.5770
Sup: 1.5560, 1.5520, 1.5490, 1.5455
USD/JPY
The remains in neutral territory after a drop of 78.70 zone were a false break was made few pips higher that the higher territory, however, still maintained by 77.90/95 zone low of 23ed July and 1st Aug, were if broken a drop is expected to 77.65 low of 1st of Jun. a break of 78.70 would open the upside to 79.10 and 80.00 next.
Res: 78.70, 79.10, 80.00, 80.60
Sup: 77.90, 77.65, 77.10, 76.40
Gold
Remaining in a side way trend on the Medium term between 1640 and 1530, while currently trading near the higher side of the chart gives the up side a possibility for a further rise to 1618 which would open a test of 1630/40 zone. On the downside, a break of 1605 would open further drop to 1597 and 1584 next, in which a break would allow bears to target 1566 zone.
Res: 1618, 1628, 1635, 1640
Sup: 1605, 1597, 1584, 1566
Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The pair dropped yesterday to 38.2% Fibo at 1.2325 of 1.2130 to 1.2440 rise, still on a side way trend if 1.2440 high is not broken. On the downside 1.2325 remains the first support ahead of 50% Fibo 1.2285, and 61.8% Fibo at 1.2250, were a break there would open the point the rise started at 1.2215, the upside will be resumed after a break of 1.2440, then to 1.2505, which will open 1.2555 and 1.2625 next.
Res: 1.2440, 1.2505, 1.2555, 1.2625
Sup: 1.2325, 1.2290, 1.2250, 1.2215
GBP/USD
Maintained after yesterday’s drop to 1.5570 zone, cable managed to rise again to 1.5680/90 zone where previous highs since the beginning of Aug kept the market from rising. Most indicators are showing a side way trend, unless 1.5570 and 1.5690 range is broken. A break above 1.5690 would open 1.5730 and 1.5770. Were the downside is possible after a break of 1.5570 and 1.5545 zone, in which it will open 1.5490 zone.
Res: 1.5680, 1.5690, 1.5730, 1.5770
Sup: 1.5570, 1.5545, 1.5490, 1.5455
USD/JPY
Still trading in side way range and after Last night’s BOJ rate statement did nothing but a small drop to 78.27. Daily indicators are showing a positive direction to the upside as a daily higher low pattern is forming. However, the pair is still trading between 78.70 and 77.90, which will open the upside to 79.15 and 80.00 next, or the downside to 77.65 and 76.00 next.
Res: 78.70, 79.10, 80.00, 80.60
Sup: 77.90, 77.65, 77.30, 76.70
Gold
Ranging trading dominates the action on Gold as 1618 was not broken from the upper side, on the other hand, 1600 zone is still holding gold from any drop to 1584 support. A break of 1618 would open 27th July high at 1628 and then 1635/40 the higher side of the medium term barrier, the downside is favored after a break of 1600 zone to 1584.
Res: 1618, 1628, 1635, 1640
Sup: 1603, 1597, 1584, 1566
Crude Oil
Still trading on high territory Oil managed to break through yesterdays high with 30 pips, as long as the lower sides are maintained the uptrend is expected to resume, the down side is protected at 92.30 and 91.70 zone, a break there would open 90.55 and 89.40. on the upside, first resistance lays at 95.40 which will open 97.55 and 100.75 next.
Res: 94.65, 95.40, 97.55, 100.75
Sup: 92.30, 91.70, 90.55, 89.40
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
One week descend off 1.2440 double-top, has so far retraced exactly 50% of initial 1.2042/1.2240 upleg, with downside pressure seen on lower timeframes. Consolidation above last Friday’s 1.2240 low, was unable to clear 1.2300 barrier, as 55 day EMA capped the upside and near-term price action moving sideways. Immediate support lies at 1.2260, overnight’s low, ahead of 1.2240, key near-term level, below which to signal further extension lower, with significant support zone at 1.2220/00, along with Fib 61.8%, seen next. Near-term range’s high at 1.2315, offers initial barrier, while regain of 1.2350/1.2400 would reduce the downside risk.
Res: 1.2300, 1.2315, 1.2345, 1.2364
Sup: 1.2260, 1.2240, 1.2220, 1.2200
GBP/USD
The larger picture shows the pair entrenched within 1.5500/1.5760 range, with 200 day SMA keeping the upside protected, while daily studies showing slight improvement. Hourly outlook, however, holds positive tone, as last Friday’s rally touched psychological 1.5700 barrier, with series of higher highs, seeing potential for possible attack at the upper range boundaries. Corrective action should ideally find ground at 1.5640 zone, otherwise, risk of losing 1.5600 handle and possible revisiting 1.5570/50 support zone, would be likely near-term scenario.
Res: 1.5681, 1.5700, 1.5729, 1.5766
Sup: 1.5653, 1.5640, 1.5625, 1.5600
USD/JPY
Sideways movement and consolidation of short-term losses above 78.00, are shown on a daily chart, with studies in the negative territory and upside being capped at 78.80/79.20 zone, where also 200 day SMA lies. Clear break here is required to signal more serious action. More negative tone is seen on a lower timeframes, with hourly structure showing near-term correction on oversold conditions, with strong barrier seen at 78.40, where 4h 20/55 day EMA’s bearish crossover, keeps the pair under pressure. Fresh losses will be seen on potential loss of strong support and range bottom at 78.00 that is seen as a trigger for test of 77.65, 01 June low.
Res: 78.34, 78.45, 78.64, 78.78
Sup: 78.15, 78.00, 77.93, 77.65
USD/CHF
Short-term outlook remains positive, as the pair resumes its corrective move off 0.9654, 06 Aug low, with nearly 50% of 0.9970/0.9654 downmove seen on last Friday’s brief break above 0.9800 barrier. Near-term price action is in a consolidative mode, with important support at 0.9750 zone, also 20/55 day EMA’s, expected to hold the downside for fresh push higher, and near-term studies in the positive field. Immediate upside targets lie at 0.9800 zone, with clear break here required to resume rally towards 0.9850. Loss of 0.9750, however, would delay and turn the near-term structure negative.
Res: 0.9784, 0.9800, 0.9808, 0.9850
Sup: 0.9761, 0.9747, 0.9700, 0.9656
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Maintains near-term positive tone, with yesterday’s rally extending gains to 1.2372 so far. As the price holds above psychological 1.2300 level and corrective pullback being contained at our initial support / 20 day EMA at 1.2320, fresh strength is looking for retest of 1.2372, above which to open 1.2386, 09 Aug high and 1.2400, figure resistance / 55 day SMA. Any dips should be held above 1.2300 handle, otherwise risk of revisiting recent lows would increase, as larger picture still shows bears in play.
Res: 1.2372, 1.2386, 1.2400, 1.2428
Sup: 1.2343, 1.2324, 1.2315, 1.2300
GBP/USD
The pair holds positive near-term structure, as the price action moves around 1.5700 handle, following yesterday’s brief break higher to 1.5716. Immediate targets at very strong resistance zone at 1.5720, 200 day MA and range tops at 1.5760, remain in focus, as near-term indicators stay in the positive territory, with higher base at 1.5656, reinforced by 55 day EMA, expected to contain dips.
Res: 1.5716, 1.5720, 1.5736, 1.5766
Sup: 1.5673, 1.5656, 1.5640, 1.5625
USD/JPY
The near-term price action continues to move higher, supported by positive near-term studies, after finding ground at 78.15 zone. However, short-term range-trade will continue, unless the upper boundary at 78.80, also Fib 38.2% of 80.09/77.90, is cleared. Dominating negative tone on the larger timeframe, requires caution, as 200 day SMA at 79.16, keeps the upside protected for now.
Res: 78.59, 78.64, 78.78, 79.00
Sup: 78.45, 78.36, 78.28, 78.15
USD/CHF
The pair remains at the back foot, as yesterday’s extension under 0.9750, tested our next target at 0.9700, with subsequent bounce being capped by descending 20 day EMA at 0.9742, just under initial 0.9750 barrier. Fresh weakness, supported by negative near-term studies, looks for break below important 0.9700 level, loss of which to signal lower top at 0.9808 and turn focus towards 0.9655, 07/08 Aug double-bottom and daily 55 day EMA.
Res: 0.9742, 0.9750, 0.9784, 0.9800
Sup: 0.9700, 0.9684, 0.9664, 0.9656
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
Near-term picture turns negative, as the price slides below 1.2300 support, following an upside rejection under 1.2400 barrier, where the med-term bear-trendline off 1.3282, 01 May peak, capped gains. Initial support at 1.2260 has been tested, with 1.2300 offering initial resistance, as key short-term support at 1.2240, 10 Aug low / 50% of 1.2042/1.2441, comes in focus, with extension to 1.2200, seen on a break.
Res: 1.2300, 1.2342, 1.2386, 1.2400
Sup: 1.2258, 1.2240, 1.2220, 1.2200
GBP/USD
The pair accelerates losses on a break below 1.5655 platform, turning the near-term outlook negative and keeping strong resistance zone above 1.5700 out of reach for now. Losses have so far retraced 50% of 1.5489/1.5727 ascend, with more significant support zone at 1.5600/1.5570, coming in focus. Larger picture’s range-trade stays intact, as 200 day SMA continues to cap.
Res: 1.5673, 1.5700, 1.5717, 1.5727
Sup: 1.5634, 1.5608, 1.5600, 1.5575
USD/JPY
The pair continues to trend higher, following break above main bear-trendline at 78.70 and range top at 78.80, with surge through 79.00 barrier and 200 day SMA, looking for test of next significant barrier at 80.00. Overextended conditions on hourly chart, however, signal corrective action, with initial support at 79.00 and 78.80, previous resistance, reinforced by ascending 55 day EMA, expected to contain dips.
Res: 79.35, 79.50, 79.94, 80.09
Sup: 79.00, 78.84, 78.67, 78.59
USD/CHF
Bounce off important 0.9700 support remains sees potential for further recovery, as the price approaches important barrier at 0.9800 zone, previous high / 50% of 0.9970/0.9655 descend, with break here required to confirm higher low and resume gains. Break above 0.9800 to open 0.9850, Fib 61.8%, next, while support at 0.9750 zone, along with 4h 20/55 day EMA’s crossover, underpins.
Res: 0.9796, 0.9808, 0.9850, 0.9897
Sup: 0.9777, 0.9758, 0.9749, 0.9730
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Driven by the news, the single currency broke out of short-term range, when gains accelerated, to clear key short-term barrier at 06/07 Aug double top at 1.2440. Positive sentiment that came in play on increased risk appetite, keeps the upside in focus in the near-term, as gains approached initial target at 1.2500. Consolidative action on overbought hourlies is under way, with possible deeper reversal to be ideally contained at/above 1.2415/00 zone, where Fib 38.2% and 55 day EMA, along with psychological 1.2400 level, offer good support.
Res: 1.2477, 1.2486, 1.2500, 1.2520
Sup: 1.2440, 1.2415, 1.2400, 1.2380
GBP/USD
The pair consolidates its yesterday’s gains that broke above two-month range top and cracked our initial target at 1.5800. Shallow reversal on overbought hourly conditions has so far been contained by strong support of 20 day EMA and previous range ceiling at 1.5775, keeping the upside in focus, however, hourly indicators still pointing lower and extended conditions on 4h chart, do not rule out further corrective action. Another good support at 1.5750/40 zone, where Fib 38.2% and 50%, along with previous top and 55 day EMA, is seen as ideal reversal point in case of stronger dips. Only loss of 1.5700/1.5680, higher platform / trendline support, will sideline bulls. On the upside, lift above 1.5800 to open 1.5847, 22 May high, ahead of psychological 1.5900 barrier.
Res: 1.5803, 1.5847, 1.5900, 1.5905
Sup: 1.5765, 1.5753, 1.5743, 1.5722
USD/JPY
Remains in near-term corrective mode off 79.65, 20 Aug fresh high, where daily Ichimoku cloud capped the upside action. Temporary footstep was found at 79.15, marked as ideal reversal point, along with 79.00/78.90 zone, Fib 38.2% / 50% of 78.15/79.65 and 55 day EMA. However, still negative structure on hourly and indicators pointing lower on 4h chart, keep the downside vulnerable. From the other side, clear break above 79.65 is seen as a trigger for test of 80.00.
Res: 79.52, 79.65, 79.94, 80.09
Sup: 79.15, 79.08, 79.00, 78.90
USD/CHF
The negative sentiment keeps to drive the pair lower, as loss of initial 0.9700 platform, accelerated losses through key short-term support and double bottom at 0.9655, approaching psychological 0.9600 level. Brief consolidation off 0.9617, yesterday’s low, has not shown much of recovery, as negative short-term studies keep the downside in focus, with some delay in stronger slide, to be seen on oversold short-term conditions. Clear break below 0.9600, to expose 0.9650 zone, 90 day SMA / daily Ichimoku cloud base, ahead of psychological 0.9500 level. On the upside, regain of minimum 0.9700/20, is required to ease bear pressure, while 0.9800 zone caps for now.
Res: 0.9655, 0.9700, 0.9720, 0.9747
Sup: 0.9617, 0.9600, 0.9550, 0.9500
Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)
EUR/USD
Continues to trend higher, as yesterday’s fresh rally broke above psychological 1.2500 barrier. Strong resistance at 1.25/6070 zone, Fib 38.2% of 1.3384/1.2042 / 90 day SMA, has been dented, with break here to spark fresh gains towards round figure resistance at 1.2600. However, studies in lower timeframes are overbought, with hourlies already pointing lower and MACD bearish divergence developing on hourly chart that signals a pause in current rally and opens way for corrective easing. Hourly supports lie at 1.2512, 20 day EMA, 1.2500, figure support and 1.2486, Fib 23.6% of 1.2254/1.2552 ascend. More downside risk would be seen on a break below 1.2430/00 zone, Fib 38.2% / yesterday’s low / figure support.
Res: 1.2552, 1.2590, 1.2600, 1.2624
Sup: 1.2512, 1.2500, 1.2486, 1.2430
GBP/USD
Yesterday’s acceleration through 1.5800 handle, backed by FOMC comments that significantly weakened the greenback, pushed the pair briefly through our next target and psychological barrier and Fib 61.8% of larger 1.6300/1.5267 descend at 1.5900. Positive sentiment, established on a break above two-month congestion top at 1.5776, now sees potential for further gains, with another significant barrier at 1.6000, coming in short-term focus. However, overbought conditions on 1 and 4h chart studies, warns of corrective action preceding fresh rally. Initial supports lie at 1.5880/70 zone, ahead of strong ones at 1.5800/1.5780, loss of which would sideline short-term bears.
Res: 1.5911, 1.5931, 1.5950, 1.6000
Sup: 1.5880, 1.5816, 1.5800, 1.5776
USD/JPY
The pair loses ground, as reversal from 79.65, 20 Aug high, where gains were capped by daily Ichimoku cloud top, accelerated losses on a break below 200 day MA at 79.20 and breaking below previous strong resistance and previous range top at 78.80, to nearly fully retrace recent 78.15/79.65 rally. Dips so far reached 78.27, with return below broken bear trendline off 84.08, turning the near-term sentiment into negative territory. Brief corrective/consolidative action has so far been limited at 78.60 zone, with more significant bounce required to regain minimum 79.00 to ease bear pressure and avoid revisit of strong support and base at 78.00 zone.
Res: 79.65, 78.80, 78.96, 79.12
Sup: 78.46, 78.27, 78.15, 78.00
USD/CHF
Acceleration of losses was seen on a break below important 0.9700 and 0.9655 supports, with loss of 0.9600 handle, extending decline to 0.9550 so far, where daily Ichimoku cloud base and 90 day MA offers near-term footstep. Corrective bounce on overextended short-term studies has been signaled on a hourly chart, however, not much of action to be expected as long as important barriers at 0.9655/0.9700 stay intact and only violation of this zone would sideline short-term bears. On the downside, break below 0.9550, to expose figure support at 0.9500, then 0.9461/20, 19/18 June higher base.
Res: 0.9584, 0.9600, 0.9617, 0.9655
Sup: 0.9550, 0.9500, 0.9461, 0.9420
Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)
EUR/USD
The Euro remains in defensive since posting fresh seven-week high at 1.2588 last week, with one-month rally being backed by hopes of ECB’s action. The initial strength may be further losing momentum, as the single currency slips below psychological 1.2500 level. Today’s weakness dipped to 1.2464, Fib 38.2% of near-term 1.2254/1.2588 rally, just ahead of 1.2440/30 break point, also near 50% retracement and 55 day EMA, loss of which would spark further weakness. Negative near-term studies keep the downside favored, as immediate barrier at 1.2500 stays impact. Only lift above 1.2534, yesterday’s high, would delay bears.
Res: 1.2500, 1.2534, 1.2560, 1.2588
Sup: 1.2464, 1.2441, 1.2430, 1.2406
GBP/USD
The pair continues to trend lower, as a part of near-term corrective pullback off 1.5911, last week’s high. The slide touched important 1.5750/40 zone, where previous high / Fib 38.2% of 1.5489/1.5911 upleg and bull trendline off 1.5489 lie, as initial support and previous range top at 1.5770 zone has been lost. Potential break below 1.5740 would be seen as a trigger for stronger reversal and keep the upside targets sidelined, in favor of test of 1.5715/00, 200 day MA / 50% retracement, as near-term technicals remain weak. Immediate resistance lies at 1.5800, reinforced by descending 55 day EMA, while only regain of 1.5830 zone would provide relief.
Res: 1.5800, 1.5830, 1.5850, 1.5868
Sup: 1.5753, 1.5740, 1.5715, 1.5700
USD/JPY
The near-term price action is running out of steam, as initial target at 79.00 stays intact, after recovery rally being capped at 78.80 zone, where 55 day EMA limited the upside. Fresh slide under bull trendline off 78.27 low, despite dips being contained at initial 78.45 support, sees more risk towards the downside, as near-term structure remains weak. Loss of 78.44/36 to expose 78.00 base for retest, while only lift above 79.00 would be a signal of further recovery towards 79.65 peak.
Res: 78.70, 78.83, 78.96, 79.12
Sup: 78.44, 78.35, 78.27, 78.15
USD/CHF
Corrective rally off 0.9537, 23 Aug low, extends gains to 0.9634 so far, with positive near-term structure seeing potential for test of important 0.9660 zone, 22 Aug lower high/ 55 day EMA and 50% retracement of 0.9766/0.9537 downleg, break above which to confirm near-term base and open way for stronger recovery towards 0.9700, next target. However, negative larger picture, sees the current move as corrective part of larger downtrend from 0.9970 and unless firm break above 0.9700 zone, also bear-trendline off 0.9970, is seen, risk of lower top and fresh weakness, remains high.
Res: 0.9634, 0.9655, 0.9679, 0.9700
Sup: 0.9610, 0.9580, 0.9557, 0.9537