Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 86
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
EURUSD
The Euro came under pressure after overnight’s gap lower opening which followed last Friday’s test of 1.39 barrier and hesitation, confirmed by Doji candle. Weakened hourly studies see risk of further easing that should be viewed as corrective phase of larger uptrend, with notion confirmed by 4-hour indicators reversing form overbought territory. Extension of Asian narrow range trading would threaten test of strong 1.3820/00 support zone, where previous tops of 01/02 Apr lay, along with Fibonacci 38.2% retracement of 1.3671/1.3904 upleg and support being reinforced by broken bear-trendline, drawn off 1.3965 peak and daily Kijun-sen line. Ideally, dips should find support around 1.38 handle and above 1.3779, 09 Apr higher low / daily Tenkan-sen line, to keep near-term bullish structure intact for renewed attempt through 1.3900 hurdle and eventual test of key 1.3965 barrier, 13 Mar peak. Violation of 1.3779 and Fibonacci 61.8% at 1.3760, would sideline near-term bulls and shift near-term focus lower.
Res: 1.3859; 1.3900; 1.3946; 1.3965
Sup: 1.3820; 1.3800; 1.3779; 1.3760
GBPUSD
Cable trades in near-term corrective mode off fresh high at 1.6819, after fresh bulls completed 1.6821/1.6464 corrective phase. Pullback was so far contained at 1.6715, Fibonacci 38.2% of 1.6548/1.6819 upleg / broken bear-channel upper line, where dips should be ideally contained. Overall picture remains positive and favors final push through 1.6821 peak, to resume broader bull-trend on extension of the third wave from 1.6548, 04 Apr higher low, to 1.6849, its 138.2% Fibonacci expansion and 1.6900, Fibonacci expansion 161.8%, in extension, once corrective phase is completed. However, risk of further consolidation and possible deeper corrective action is seen on overextended studies on 4-hour chart, as Evening star pattern is formed on a daily chart. Break below 1.6715 support to open 1.6684, 31 Mar previous peak and 50% retracement and 1.6652, Fibonacci 61.8% retracement in extension.
Res: 1.6748; 1.6790; 1.6821; 1.6849
Sup: 1.6715; 1.6683; 1.6652; 1.6600
USDJPY
The pair trades in near-term sideways mode, consolidating recent losses that found temporary support at 101.31. Near-term studies are bearish and look for final attack at strong 101.20 base, to fully retrace 101.20/ 104.11 bull-leg and open way towards key short-term support at 100.74, 04 Feb low. However, hesitation on approach to key support levels, should be anticipated, as 4-hour studies are reversing from oversold zone and suggest further consolidative action. Signal of stronger recovery attempt requires bounce above 102.14, 09 Apr lower platform reinforced daily cloud base, to sideline immediate downside risk and open way for stronger recovery towards Fibonacci barriers at 102.38 and 102.71, 38.2% / 50% retracement of 104.11/101.31 descend , with psychological 103 barrier, also double MA’s bear-cross, and Fibonacci 61.8% retracement, expected to cap stronger rallies.
Res: 101.86; 102.14; 102.38; 102.71
Sup: 101.31; 101.20; 100.74; 100.00
AUDUSD
The pair corrects fresh bulls that peaked at 0.9460 last week, with near-term price action consolidating above the pullback low and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line. Overall positive sentiment keeps the upside still in play for eventual test of next targets at 0.9477, Fibonacci 138.2% expansion of the third wave from 0.8889 and 0.9500, round-figure resistance / Fibonacci 76.4% retracement of 0.9755/0.8658 descend. However, hourly studies are losing traction, while 4-hour indicators are descending from overbought territory that may delay bulls for further consolidative/corrective action. Previous peaks and Fibonacci 61.8% retracement of 0.9204/0.9460 at 0.9300, should contain stronger pullbacks.
Res: 0.9425; 0.9460; 0.9477; 0.9500
Sup: 0.9362; 0.9332; 0.9300; 0.9253
GOLD
Spot Gold remains supported and resumed near-term uptrend after clearing last Thu/Fri consolidation tops at 1324. Immediate targets lay at 1334, 50% retracement of 1392/1277 descend and 1342, 21 Mar lower high. Positively aligned near-term technicals support the scenario, with 1324 now offering initial support. Further down, Friday’s correction low and previous consolidation peaks at 1313, offer strong support and should keep the downside protected.
Res: 1334; 1342; 1348; 1354
Sup: 1324; 1313; 1309; 1300
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
EURUSD
The Euro remains at the back foot with fresh acceleration probing below 1.3800, psychological support / Fibonacci 38.2% of 1.3671/1.3904, reinforced by broken bear-trendline and 4-hour 55SMA. Clear break here to signal stronger reversal and mark near-term top at 1.3904. Negative hourly technicals favor further downside, with 4-hour indicators breaking below their midlines and supporting bearish scenario. Immediate targets lay at 1.3780 zone, 50% retracement / 09 Apr higher low and 1.3760, Fibonacci 61.8% retracement. Consolidation high at 1.3832 offers initial resistance, ahead of more significant yesterday’s highs at 1.3860, reinforced by double 10/55 and 20/55 SMA’s bearish crosses, where upside attempts should be capped. Only break here and filling yesterday’s gap would turn the picture bullish and signal higher base formation for fresh attempt at the upper targets at 1.3904 and 1.3965.
.
Res: 1.3832; 1.3862; 1.3904; 1.3946
Sup: 1.3780; 1.3760; 1.3736; 1.3700
GBPUSD
Cable trades in near-term corrective mode off 10 Apr high at 1.6819, after completing short-term 1.6821/1.6464 corrective phase. Fresh weakness through 1.6715, Fibonacci 38.2% of 1.6548/1.6819 upleg / broken bear-channel upper line, cracked psychological 1.67 support, signaling deeper pullback, as the price so far spiked near 61.8 % retracement of 1.6548/1.6819 ascend. Indicators on 4-hour chart are breaking into negative territory that suggests further easing, as hourly technicals are bearish. Break below 1.6652/42, Fibonacci 61.8% of 1.6548/1.6819 and 50% retracement of 1.6464/1.6819 ascend, to confirm near-term top and the price’s return back to range trading. Extension below 1.66 handle would risk possible retest of key near-term support at 1.6548, 04 Apr higher low. Alternative scenario requires lift above previous consolidation tops at 1.6740 zone, to avert immediate downside risk.
Res: 1.6740; 1.6790; 1.6821; 1.6900
Sup: 1.6652; 1.6642; 1.6600; 1.6563
USDJPY
The pair trades in near-term sideways mode, consolidating recent losses that found temporary support at 101.31. Near-term tone is turning positive as the price moves towards the upper boundary at 102.00/15, reinforced by broken bear-trendline off 100.74, with hourly studies gaining traction. Clear break here is required to revive 4-hour bulls and allow for stronger recovery, as reversal pattern is building up on daily chart. However, upside attempts are so far seen limited, as overall picture remains bearish and favors further weakness for full retracement of 101.20/104.11 ascend and test of key support at 100.74 in extension. Only break above 103 barrier would improve and shift near-term focus higher.
Res: 102.00; 102.14; 102.38; 102.71
Sup: 101.83; 101.31; 101.20; 100.74
AUDUSD
The pair trades in near-term consolidative mode, after fresh extension of bull-phase from 0.8658 bulls peaked at 0.9460 last week. Near-term price action consolidates above the pullback low and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line. Overall positive sentiment keeps the upside still in play for eventual test of next targets at 0.9477, Fibonacci 138.2% expansion of the third wave from 0.8889 and 0.9500, round-figure resistance / Fibonacci 76.4% retracement of 0.9755/0.8658 descend. However, hourly studies are losing traction, while 4-hour indicators are descending from overbought territory that may delay bulls for further consolidative/corrective action. Previous peaks and Fibonacci 61.8% retracement of 0.9204/0.9460 at 0.9300 zone should contain stronger pullbacks.
Res: 0.9424; 0.9460; 0.9477; 0.9500
Sup: 0.9362; 0.9332; 0.9300; 0.9253
GOLD
Spot Gold enters near-term corrective phase off fresh high at 1330, posted yesterday. Acceleration through initial supports at 1324 and 1310 brings hourly bears in play, with Fibonacci 38.2% retracement of recovery rally from 1277 to 1330, being tested so far. Further weakness would risk extension to 1300, 09 Apr higher low / psychological support / 200SMA and near 50% retracement, where dips should find support to avert risk of neutralizing bulls and fresh extension towards key support and near-term base at 1277.
Res: 1313; 1319; 1324; 1330
Sup: 1304; 1300; 1295; 1281
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
EURUSD
The Euro trades in a corrective mode off fresh low at 1.3789, where strong support, 50% retracement of 1.3671/1.3904 / broken bear-trendline off 1.3965 peak, contained reversal off 1.3965 for now. Consolidative action broke above initial 1.3832, yesterday’s recovery rally peak and Fibonacci 38.2% retracement of 1.3904/1.3789 pullback, to retrace 50% so far, on extension to 1.3850. Improving hourly studies support further advance towards pivotal 1.3860, weekly highs and Fibonacci 61.8% retracement of 1.3904/1.3789, above which to confirm higher low formation and look for retest of key 1.3904 peak, after filling Monday’s gap. Bullish daily studies support scenario. Session low at 1.3805, also higher low of ascend from 1.3789, should keep the downside protected. Alternative scenario requires loss of 1.3805 and more significant 1.3789 support to bring bears back in play for extension of the downmove from 1.3904, 11 Apr peak.
Res: 1.3860; 1.3879; 1.3904; 1.3941
Sup: 1.3832; 1.3805; 1.3789; 1.3760
GBPUSD
Cable completed near-term corrective phase off 1.6819, as the pullback was generally contained at 1.6700 zone, broken bear-channel resistance line, excluding yesterday’s short-lived spike lower to 1.6657. Near-term bulls are fully in play for eventual break above 1.6819/21 peak, clearance of which to signal an end of short-term congestion and resume larger bull-trend towards 1.6900, round-figure, above which to expose interim barrier at 1.6957, Fibonacci 138.2% projection, en-route to psychological 1.7000 resistance. Larger picture bullish structure is supportive. Corrective actions should be ideally contained above 1.6750, previous congestion tops.
Res: 1.6821; 1.6850; 1.6900; 1.6957
Sup: 1.6790; 1.6750; 1.6718; 1.6700
USDJPY
The pair is gaining traction after break above initial 102.00/15 barriers improves near-term structure and signals basing attempt. Break above the next hurdle at 102.38, Fibonacci 38.2% retracement of 104.11/101.31 is requires to sideline downside risk and open way for further recovery towards 102.71, 50% retracement and psychological 103 barrier, also Fibonacci 61.8% retracement and reinforced by double MA’s bear-cross. Weak daily studies see corrective action limited and only break above 103 barrier is required to bring bulls fully in play.
Res: 102.38; 102.7; 103.00; 103.29
Sup: 102.00; 101.80; 101.50; 101.31
AUDUSD
The pair came under pressure after extension below near-term consolidation floor and 38.2% retracement of 0.9204/0.9460 upleg at 0.9360, also broken channel resistance line extended pullback to 0.9331, 50% retracement of 0.9204/0.9460 upleg. Negative hourlies and 4-hour indicators breaking into negative territory, keep the downside favored in the near-term, with completion of consolidative phase expected to trigger further weakness. Return and possible break of pivotal 0.9300 support, Fibonacci 61.8% retracement / previous peaks of 28 Mar / 01 Apr, to confirm reversal and mark near-term top at 0.9460. Reversing daily indicators favor the scenario, with clear break below 0.93 handle, required to confirm.
Res: 0.9383; 0.9400; 0.9424; 0.9460
Sup: 0.9331; 0.9300; 0.9253; 0.9204
GOLD
Spot Gold came under strong pressure and slumped yesterday, losing all important supports, with price dipping to 1286 so far, to nearly fully retrace near-term rally from 1277 to 1330. Corrective action on oversold near-term studies is under way, with psychological barrier and previous strong support, reinforced by 200SMA at 1300, holding the upside attempts limited, despite marginal break higher. Overall negative tone favors final push to 1277, with completion of 1277/1330 bull phase to confirm lower top formation at 1330 and spark fresh leg lower, as extension of larger downtrend from 1392, 17 Mar peak. Alternatively, clear break above 1300 barrier and regain of 1313, previous support and Fibonacci 61.8% retracement of 1330/1286 downleg, would sideline near-term bears and avert immediate risk towards 1277 breakpoint.
Res: 1308; 1313; 1319; 1324
Sup: 1293; 1286; 1277; 1262
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
EURUSD
The Euro holds positive near-term tone off fresh low at strong 1.3789 support, as the price stabilizes above 1.38 higher base, supported by daily 20SMA / Tenkan-sen line. Recovery attempts are so far limited at initial 1.3850 barrier, also 50% retracement of 1.3904/1.3789 fall and ahead of more significant 1.3860, weekly highs / last Friday’s low and Fibonacci 61.8% retracement of 1.3904/1.3789. Sustained break here that also requires to fill Monday’s gap, is required to bring bulls fully in play for eventual attempt at 1.3904, 11 Apr high and possible attack at key 1.3965 high. Hourly structure is positive, while neutral tone prevails on 4-hour studies. Break above initial barriers and near-term congestion tops is required to revive 4-hour bulls and avert risk of re-visiting 1.3800 and more important 1.3789, loss of which will be bearish.
Res: 1.3850; 1.3860; 1.3904; 1.3946
Sup: 1.3824; 1.3800; 1.3789; 1.3760
GBPUSD
Cable eventually broke above multi-month congestion tops at 1.6820 and trades at levels last time seen in 2009. However, marginal break higher requires today’s close above 1.6820, to confirm bullish resumption of the bull-leg from 1.4812, July 2013 low and open 1.6877, November 2009 peak and 1.6900 in extension. Sustained break higher is required to shift focus towards psychological 1.7000 barrier and key longer-term resistance at 1.7041, August 2009 peak. Overall picture remains bullish and keeps the upside favored, with corrective dips to face initial support at 1.6780 higher base. Key near-term support lies at 1.67 base and only break here would sideline near-term bulls.
Res: 1.6836; 1.6877; 1.6900; 1.6950
Sup: 1.6780; 1.6768; 1.6750; 1.6725
USDJPY
Acceleration above near-term congestion top at 102.00 failed to clear 102.38, Fibonacci 38.2% retracement of 104.11/101.31 descend and daily Ichimoku cloud top, as rally stalled here. Subsequent return to the levels below 102 handle, now support, retraced 50% of larger 100.74/102.35 ascend, would signal false break and risk further weakness, if the price slides below 101.70, Fibonacci 61.8% retracement / bull-trendline drawn off 101.31 low. Negative hourly studies support such scenario. However, positive tone, persisting on 4-hour chart, would keep the upside favored if the price stabilizes above 102 handle and renewed attempt higher breaks above 102.38, minimum requirement to confirm bear-term base at 101.31 and allow for stronger recovery. Strong resistance and breakpoint lies at 103 zone, Fibonacci 61.8% retracement of 104.11/101.31 descend / daily Ichimoku cloud top, where possible stronger rallies should be capped , as larger picture bears remain in play.
Res: 102.38; 102.71; 103.00; 103.29
Sup: 101.85; 101.70; 101.50; 101.31
AUDUSD
The pair trades in near-term consolidative mode after corrective attempt off fresh low at 0.9331, 50% retracement of 0.9204/0.9460 upleg, stays capped under psychological 0.9400 barrier. Near-term technicals are neutral, with break of 0.94 barrier required to confirm higher base and re-open fresh high at 0.9460. Otherwise, the downside would remain at risk in the near-term, with loss of 0.9331 temporary support, expected to trigger fresh extension of corrective pullback from 0.9460, towards 0.9300 breakpoint, Fibonacci 61.8% retracement / previous peaks of 28 Mar / 01 Apr, loss of which to sideline near-term bulls in favor of stronger correction.
Res: 0.9400; 0.9424; 0.9460; 0.9500
Sup: 0.9351; 0.9331; 0.9300; 0.9253
GOLD
Spot Gold trades in neutral near-term tone, with recovery attempts off fresh low at 1286, being capped at 1306, as the price failed to sustain gains above psychological 1300 barrier. Near-term technicals remain weak and keep the downside favored for eventual push to 1277, 01 Apr low, to full retrace 1277/1330 recovery phase. Break lower to confirm lower top formation at 1330 and spark fresh extension of larger downmove from 1392, 17 Mar peak and expose 1262, Fibonacci 61.8% retracement of larger 1182/1392 rally. Daily studies are negative and keep the downside risk in play, while only sustained break and weekly close above 1300 support, also 200SMA, would ease immediate bear-pressure.
Res: 1308; 1313; 1319; 1324
Sup: 1293; 1286; 1277; 1262
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
EURUSD
The Euro gains negative momentum and attempts at the lower boundary of week-long range trading. Yesterday’s failure to sustain recovery attempt above initial 1.38 support, triggered fresh weakness, as broken bull-trendline off previous 15 Apr low at 1.3789, capped the rally. Negative tone is establishing on near-term studies and keeps the downside pressured, with clear break below 1.3789 range’s lowest point, required to confirm lower top at yesterday’s 1.3829 peak and resume the third wave off 1.3729, towards its 100% Fibonacci expansion at 1.3769 and Fibonacci 61.8% retracement of 1.3671/1.3904 at 1.3760, also broken bear-trendline, drawn off 1.3965, 13 Mar peak. Acceleration lower to confirm bears fully in play and open way towards 1.3730/20, main bull-trendline off 1.3475, 03 Feb low / daily Ichimoku cloud base and psychological 1.3700 support. Previous support at 1.38 zone, now offers initial resistance, ahead of 1.3829, yesterday’s high and above 50% of 1.3863/1.3784 descend, with alternative scenario requiring break here to sideline immediate bears.
Res: 1.3800; 1.3815; 1.3829; 1.3850
Sup: 1.3760; 1.3726; 1.3700; 1.3671
GBPUSD
Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Hourly tone remains neutral, after the price found footstep at 1.6773 and trades within narrow range. On the other side, positive 4-hour studies see the upside favored, with eventual break above 1.6841 peak, required to resume larger rally and avert risk of deeper reversal, signaled by bearish MACD / RSI divergence. Break above 1.6841 to open 1.6877, November 2009 peak and 1.6900, round figure resistance in extension. Conversely, break below 1.67 higher base and Fibonacci 38.2% of 1.6464/1.6841 upleg, would revive near-term bears and signal reversal scenario.
Res: 1.6821; 1.6841; 1.6877; 1.6900
Sup: 1.6773; 1.6750; 1.6720; 1.6700
USDJPY
The pair maintains positive near-term tone and continues to move higher, as extension from 101.85 higher low penetrated daily cloud base and so far tested 102.71, 50% retracement of 104.11/101.31. Further advance remains favored, with next barriers laying at 102.89, 100SMA and 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 base and resume rally from 101.31, 11 Apr low. Bullish 20/55SMA’s crossover at 102.20 zone, where corrective dips should ideally find support, underpins the action, while only reversal below 101.85 higher low and Fibonacci 61.8% of 101.31/102.71 upleg, would bring near-term bears back in play and risk retest of 101.20 base. Negatively aligned daily studies would keep the downside at risk while 103 barrier caps recovery attempts.
Res: 102.71; 102.89; 103.00; 103.29
Sup: 102.20; 102.00; 101.85; 101.50
AUDUSD
The pair trades in near-term corrective mode off fresh high at 0.9460, with fresh acceleration higher seen off 0.9314 low. The rally retraced nearly 38.2% of 0.9460/0.9314 reversal, with hourly studies turning positive. However, risk of lower top formation and fresh weakness would remain in play, as long as the price holds below initial 0.9389 lower top of 17 Apr and 50% retracement, with negatively aligned 4-hour technicals supporting the notion. Clear break above 0.9389 and psychological 0.9400 barrier, is required to bring bulls fully in play and signal higher low formation for eventual push towards key near-term barrier at 0.9460. Bullish daily studies favor this scenario and only loss of 0.9300 breakpoint would delay bulls.
Res: 0.9370; 0.9390; 0.9424; 0.9460
Sup: 0.9345; 0.9315; 0.9300; 0.9253
GOLD
Spot Gold maintains negative tone, as fresh extension lower posted new low at 1281, above which near-term consolidation is under way. Fresh bears are looking for final push to key 1277 support, 01 Apr low, break of which to complete 1277/1330 upleg and signal fresh extension of larger downtrend from 1392, 17 Mar peak, as well as confirm lower top formation at 1330. Prevailing bearish tone on lower and larger timeframes, supports scenario. Initial resistances lay at 1293 and 1300, while sustained break above recent consolidation tops at 1304, would avert immediate downside risk.
Res: 1293; 1300; 1304; 1308
Sup: 1281; 1277; 1262; 1250
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
EURUSD
The single currency bounced after yesterday’s attempt at near-term range floor left marginally lower low at 1.3784. Cracking important resistance at 1.3830, 21 Apr high / main bear-trendline off 1.3904 peak / Fibonacci 61.8% retracement of 1.3863/1.3784 downleg, confirms base at 1.3790 zone and brings the price back to the range. Improved hourly structure sees potential for eventual push towards 1.3863, 17 Apr lower top and range top, regain of which to confirm double-bottom formation on 4-hour chart and re-focus key near-term barrier at 1.3904, 11 Apr peak. However, still weak 4-hour studies require caution and keep in play risk of possible stall and lower top formation under 1.3904. Corrective pullbacks off fresh highs should not exceed 1.38 support, to keep freshly established near-term bulls in play.
Res: 1.3850; 1.3863; 1.3904; 1.3941
Sup: 1.3800; 1.3784; 1.3760; 1.3736
GBPUSD
Cable trades in consolidative mode after probing levels above short-term congestion tops at 1.6820 and posting fresh multi-year high at 1.6841. Positive near-term tone keeps the upside in focus, as the price attempted again at the recent peak. Also, positive 4-hour studies support the notion, with eventual break above 1.6841 peak, required to resume larger rally and avert risk of deeper reversal, signaled by bearish MACD / RSI divergence formation. Break above 1.6841 to open 1.6877, November 2009 peak and 1.6900, round figure resistance in extension. Conversely, extension below initial support and consolidation floor at 1.6773, would signal corrective action, while only break below 1.67 higher base and Fibonacci 38.2% of 1.6464/1.6841 upleg, would revive near-term bears for stronger pullback.
Res: 1.6841; 1.6877; 1.6900; 1.6950
Sup: 1.6773; 1.6750; 1.6720; 1.6700
USDJPY
The pair maintains positive near-term tone and consolidates recent gains after extension from 101.85 higher low, so far tested 102.71, 50% retracement of 104.11/101.31. Further advance remains favored, with next barriers laying at 102.89, 100SMA and 103 zone, Fibonacci 61.8% retracement / daily cloud top, clearance of which to re-confirm 101.20/30 base and resume rally from 101.31, 11 Apr low. Bullish 20/55SMA’s crossover at 102.20 zone, also Fibonacci 38.2% retracement of 101.32/102.71 upleg, underpins the action and is seen as ideal reversal point in case of stronger pullback. Only loss of 101.85 higher low and Fibonacci 61.8% of 101.31/102.71 upleg, would bring near-term bears back in play and risk retest of 101.20 base. Negatively aligned daily studies would keep the downside at risk while 103 barrier caps recovery attempts.
Res: 102.71; 102.89; 103.00; 103.29
Sup: 102.40; 102.20; 102.00; 101.85
AUDUSD
The price accelerated reversal off 0.9460 peak after leaving lower top at 0.9377 and lost pivotal 0.9300 support, on a dip to 0.9272 so far. As hourly studies turned negative and 4-hour indicators remain in the negative territory, downside risk remains in play. Extension to the next strong support and breakpoint at 0.92 zone, 03 Apr higher low, reinforced by main bull-trendline, drawn off 0.8658, is seen as likely near-term scenario. Reversing daily indicators support the notion of deeper corrective action, as a part of larger uptrend from 0.8658, 19 Jan year-to-date low. Corrective rallies on oversold hourly conditions face initial 0.9300 barrier, ahead of previous consolidation floor at 0.9315, with extensions higher to be ideally capped under 0.9340, 61.8% of the fall from 0.9375, to keep bears intact. Upside pivot lies at 0.9375 and only break here to neutralize near-term bears.
Res: 0.9300; 0.9315; 0.9340; 0.9375
Sup: 0.9273; 0.9253; 0.9200; 0.9150
GOLD
Spot Gold eventually cracked important 1277 support, 1 Apr low / 100SMA and fully retraced bull-phase off 1277 that peaked at 1330. Clear break lower is required to confirm lower top at 1330, 14 Apr high and signal resumption of larger downtrend from 1392, 17 Mar peak. According to the wave principles, the third wave that commenced from 1330, could extend to its 61.8% Fibonacci expansion at 1258, just under Fibonacci 61.8% retracement of 1182/1392 ascend at 1262 and could travel to 1212, its 100% expansion. Negative tone prevails on all timeframes and keeps the downside favored in the near-term. Corrective actions should be ideally limited under 1300, psychological barrier and 20/200SMA’s death cross.
Res: 1288; 1293; 1300; 1306
Sup: 1276; 1262; 1258; 1240
SILVER
Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.
Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56
EUR/USD
Side way trend dominates the picture yet for another week, the single currency bounced from 1.3780 zone towards 1.3860 and dropped again. Any break above 1.3860 would open the uptrend towards 1.3940 and 1.3970 next 13th March high, and a break there would open acceleration above 1.4000
Below 1.3780 will also open a downtrend towards1.3735 and 1.3640-70 previous lows of 4th April and 27th February.
Res: 1.3862, 1.3904, 1.3940, 1.3970
Sup: 1.3800, 1.3784, 1.3735, 1.3640
GBP/USD
Cable still holds below 1.6840 double top and managed to break previous lows at 1.3770-75 and 38.2% Fibonacci level of (1.6655 to 1.6840) uptrend, reaching as low as 1.6760 where it found ground before attempting a new rise towards 50% of (1.6840-1.6760) drop at 1.6805.
A continuation above 1.6805 zone would open a fresh attempt to 1.6840, and then a break there would open 1.6875 (Peak of Nov 2009). while a drop below 1.6775 would open a retest to yesterdays bottom and then towards 1.6745 (a 50% Fibonacci of 1.6655 to 1.6840. where a break there would open downside acceleration towards 1.6718 and 1.6655.
Res: 1.6804, 1.6840, 1.6875, 1.6925
Sup: 1.6775, 1.6745, 1.6718, 1.6655
USD/JPY
After a test of 102.70-75 zone and 50% Fibonacci level of 104.12 to 101.30 downtrend, the pair managed to maintain that resistance and started a daily (lower high, lower low pattern) reaching as low as 102.16 yesterday which is also a 38.2% Fibonacci level of 101.30 to 102.70 rise. A break below yesterdays low would open further to the downside and confirms the reversal for a fresh attempt on 101.20 zone, however before the latter lies support at 101.85
Res: 102.45, 102.70, 102.75, 103.00
Sup: 102.16, 101.86, 101.50, 101.20
GOLD
Spot gold still holding above midterm support of 1277, the lowest price since 11th Feb. A clear break would open further acceleration for a downtrend towards 1256, 1238, 1230 supports. On the other hand, resistance is found at 1288 and 1293 (this week highs), and next at 1300-1307 zone. Above there would reverse the current downtrend into an uptrend towards previous peaks.
Res: 1288; 1293; 1300; 1307
Sup: 1276; 1258; 1238; 1230
EUR/USD
The single currency managed to break 1.3860-65 zone (highest price since last Monday the 14th April), followed by a drop during the US session to 1.3840 (a 61.8% Fibo of yesterdays low/high) where it found ground for a fresh attempt during today on 1.3878 (Yesterday’s high).
A break above yesterdays high – 1.3878 - would open further to the upside towards previous highs at 1.3904 and 1.3945 ahead of highest price of 13th March at 1.3970
Only below 1.3820-40 zone would open a negative tone for a test of 1.3780 area, and if broken a reversal of the trend towards lower borders.
Res: 1.3878, 1.3904, 1.3945, 1.3970
Sup: 1.3840, 1.3820, 1.3790, 1.3780
GBP/USD
A break above 1.6840 opened the path for a potential uptrend, reaching as far as 1.6855 ahead of 1.6875 (High of Nov 2009), a correction yesterday found ground at 1.6800 ahead of yesterdays low at 1.6778. Waiting for a test of 1.6875 area, and a break there would open higher ground towards 1.7055 (a 5 years high).
Below 1.6800 would offer a negative tone towards 1.6780 and 1.6760 next.
Res: 1.6855, 1.6875, 1.6925, 1.7055
Sup: 1.6800, 1.6780, 1.6760, 1.6747
USD/JPY
Positive tone dominated the pair yesterday for an attempt to reach as high as 102.62 (last Thursday’s high) followed by a corrective action to a low of 103.30 (a 50% Fibo of 101.96 Friday’s low and Yesterday’s high at 102.62), where it found support and currently testing 102.70 zone. A break above 102.70 would open a continuation towards 103.00 and 103.30 ahead of April’s high at 104.12
Support is seen at 102.20-30 zone where it should maintain the positive tone for a fresh highs, below there a negative more is expected towards 101.85 and 101.20 ahead of 101.50 support.
Res: 102.70, 103.00, 103.30, 104.12
Sup: 102.30, 102.20, 101.85, 101.50
GOLD
Spot Gold dropped almost 17 dollars after reaching important resistance at 1307, which was almost yesterday’s high. The next foreseeable support is found at 1287 where price is trading near this level, and a break there would open further to the downside towards 1276 and 1268 next.
Above 1299 would open a retest of yesterdays high and if broken an uptrend is expected towards 1320 and 1332
Res: 1304; 1307; 1320; 1332
Sup: 1298, 1287, 1276; 1258
EUR/USD
A break above 1.3860 didn’t increase trader’s appetite for a continuation and found resistance during last couple of trading sessions at 1.3878. Currently we are back to the same support levels and lower border at 1.3780 and a break below there would open a downtrend towards 1.3735 and even 1.3640-70. Resistance is found at 1.3830 and 1.3855 ahead of previous high at 1.3878
Today we are expecting important fundamentals that could give high volatility during the day.
Res: 1.3830, 1.3855, 1.3878, 1.3904
Sup: 1.3790, 1.3780, 1.3735, 1.3670
GBP/USD
Cable managed to hold above 1.6800 yesterday but on the other hand didn’t manage to break previous day’s high at 1.6857 and only reached up to 1.6847.
If cable found support today at 1.6800 a potential rise towards 1.6875 is expected, below 1.6800 neutral tone will be in play with a potential test of 1.6780 and 1.6760 next. Below 1.6750-60 would offer negative sentiment. Resistance is found at 1.6830 and 1.6845 ahead of Monday’s high at 1.6857 and 1.6875 next.
Res: 1.6830, 1.6845, 1.6957, 1.6875
Sup: 1.6800, 1.6780, 1.6760, 1.6747
USD/JPY
A test was made at 102.70 zone during yesterday’s session with no break, followed by a drop towards 102.20-30 support area a break will, force a continuation towards 101.85 support levels and if broken towards 101.20 on the other hand, only above 102.70 would open 103.30 and then 104.12 (April’s high)
Res: 102.70, 103.00, 103.30, 104.12
Sup: 102.30, 102.20, 101.85, 101.50
GOLD
After the test on previous high at 1307, Spot gold dropped towards support area of 1287 reaching 1286.20 where it found ground and tried to test 1299 reaching 1300. Same levels will be monitored today and a break below 1287 would open fresh lows towards 1276 and 1268 next, and from the upside above 1299 would open 1307 high. Only above 1307 would bring bulls in play.
Res: 1300; 1307; 1320; 1332
Sup: 1286, 1276; 1256, 1238
EUR/USD
After yesterday’s drop and a test of 1.3780 intermediate support level was made, the single currency managed to close near previous highs and broke even higher reaching as high as 1.3888 so far. With a clear break of 1.3860, and demand at 1.3780, the single currency is expected to resume the uptrend for targets at 1.3905 (11th April high) and next 1.3947 and 1.3970 zone.
On the downside, support is found at 1.3869, 1.3854 and 1.3827 a break below 1.3854 would offer sellers a chance to see 1.3780 zone in case of overbought conditions.
Res: 1.3905, 1.3947, 1.3970, 1.4025
Sup: 1.3869, 1.3854, 1.3827, 1.3780
GBP/USD
Cable was supported yesterday at 1.6805, 5 pips ahead of 1.6800 support level, and managed to reach as high as 1.6900 during yesterday’s session. Remaining on an uptrend many supports are found at 1.6875, 1.6860, 1.6845 and at 1.6822 at the point where the rise started during yesterday’s session. The area of 1.6845-60 might offer sellers a boost if broken. On the other hand upside target is found at 1.7040 (2009 ultimate year high).
Res: 1.6925, 1.6960, 1.7000, 1.7040
Sup: 1.6875, 1.6860, 1.6845, 1.6820
USD/JPY
Resistance at 102.70 managed to hold the pair below and found sellers reaching as low as 102.03 yesterday. Only resistance before 102.70 is found at 102.36 (a 50% Fibo level of 102.77 to 102.03) and if broken a retest of 102.70 will be expected.
Below targets are found below 102.00 at 101.86, 101.50 and 101.20
Res: 102.36, 102.70, 103.00, 103.30
Sup: 102.00, 101.86, 101.50, 101.20
GOLD
Spot Gold found resistance yesterday below 1299 resistance level, it was tested twice and reached as high as 1297. Support level at 1286 was broken for a further test of lower borders at 1276 and even lower towards 1268, 1256.
A break above 1299 would open 1307 intermediate resistance where it is expected to reverse to an uptrend if broken. Another small resistance is found at 1290-92 zone, where couple of peaks appeared today.
Res: 1292, 1299, 1307, 1320
Sup: 1276, 1268, 1256, 1238