Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 87
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 fell to 1.3750 zone, ending the week in red and erased all gains of last week, following false break above 1.39 resistance zone and upside rejection on approach to 1.40 barrier. Loss of 1.38, round-figure / trendline support and 1.3780, previous range floor, significantly weakened near-term structure and increased risk of double-top formation, in case of further weakness that requires loss of 1.3720, daily cloud base and 1.3670, 04 Apr higher low, to be confirmed. Bears may be delayed for corrective action, as near-term studies are oversold, with initial resistance at psychological 1.38 barrier, also near former range floor and 1.3840 lower top / near Fibonacci 38.2% retracement of 1.3992/1.3744 descend. Any stronger rallies should be capped under 1.39, previous strong resistance, to keep bears in play.
Res: 1.3800; 1.3840; 1.3868; 1.3900
Sup: 1.3744; 1.3720; 1.3700, 1.3670
GBPUSD
Cable stalled on approach to psychological 1.7000 barrier and pulled back to 1.6830 zone, triggering daily and weekly close in red and signaling possible stronger pullback in larger bull-trend. Reversal was so far contained by daily 20SMA and just above previous peaks, keeping overall bulls so far intact and marking current easing a technical pullback, before fresh attempts higher. On the other side, negative near-term studies and daily indicators in descending mode from overbought territory, keep the downside risk in play. Confirmation of negative scenario, however, requires clear break below higher platform at 1.6760 zone, to confirm. Otherwise, the upside targets will remain in near-term focus, with regain of 1.69 handle, required to confirm bulls back in play.
Res: 1.6900; 1.6918; 1.6973; 1.6995
Sup: 1.6800; 1.6760; 1.6730; 1.6700
USDJPY
The pair closed below 102 barrier, marking weekly close in negative tone, with daily indicators in negative zone, maintaining downside risk on the larger picture. On the other side, lower timeframes studies hold neutral stance, after near-term price action stabilized above 101.20, short-term base, averting immediate risk of violation of strong 101.20 / 100.74 support, in favor of extended consolidation. Gains so far hold below 102 resistance, keeping sideways mode in play, despite improved hourly studies. Only sustained break above 102 barrier and lower top at 102.18, to signal double-bottom formation and fresh recovery attempt.
Res: 102.00; 102.18; 102.40; 102.78
Sup: 101.42; 101.31; 101.20; 101.00
AUDUSD
The Aussie holds positive near-term tone against the greenback, as bounce from 0.92 base retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern is nearly completed, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s. Break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next. Conversely, break below trendline support 0.9300 to delay, while only loss of 0.92 handle will be bearish
Res: 0.9377; 0.9393; 0.9424; 0.9460
Sup: 0.9346; 0.9317; 0.9300; 0.9250
EURUSD
The Euro holds negative near-term tone, following last week’s sharp fall and hovers above fresh lows, in a narrow consolidation, capped so far under initial 1.38 resistance. Negative hourly studies and 4-hour indicators probing below the midlines, maintain near-term pressure and see risk of penetration of recent lows, reinforced by 100SMA, to open psychological 1.37 support and key 1.3670 higher low, reinforced by broken bear-trendline off 1.3965 previous peak, in extension. Loss of the latter would further weaken the structure, as formation of double-top pattern may trigger stronger pullback and put larger bulls on hold. Daily indicators’ attempts below their midlines support the notion. Alternative scenario requires break above initial 1.38 barrier and 1.3940 lower top / Fibonacci 38.2% retracement of 1.3992/1.3744 fall, to ease immediate bear pressure, while regain of 1.39 handle is required to re-focus the upper targets.
Res: 1.3773; 1.3800; 1.3840; 1.3868
Sup: 1.3744; 1.3720; 1.3700, 1.3670
GBPUSD
Cable remains at the back foot in the near term, after recovery attempt from fresh low at 1.6829, run out of steam at initial 1.69 barrier. Near-term technicals are negatively aligned and keep the downside at risk, while the price holds below 1.69 handle. Fresh weakness through 1.6821, previous high and psychological 1.68 support, also near 38.2% retracement of 1.6464/.6995 ascend, is required to confirm reversal and open 1.6760 higher platform and 1.6730, rally’s mid-point. Conversely, sustained break above 1.69 barrier, would bring bulls fully in play and signal an end of near-term corrective phase, for fresh attempt towards psychological 1.7000 resistance.
Res: 1.6900; 1.6932; 1.6973; 1.6995
Sup: 1.6861; 1.6829; 1.6800; 1.6760
USDJPY
The pair regained strength and eventually broke through 102 barrier, extending near-term recovery off 101.40 higher base. Neat-term studies turned positive and keep further upside favored for now, with next targets laying at 102.70, mid-point of 104.11/101.31 fall/ daily cloud top and 103, range top. Clear break of the latter is required to break above 101.20/103 congestion and resume recovery. Otherwise, further range trading would likely near-term scenario. However, still negative daily studies keep the downside at risk, as long as the price remains below 103 handle.
Res: 102.40; 102.70; 103.00; 103.38
Sup: 101.42; 101.84; 101.60; 101.45
AUDUSD
The pair maintains positive near-term tone and consolidates under fresh highs near 0.94 barrier. Recovery rally from 0.92 base, so far retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern hasn’t been completed yet, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s, however, further hesitation ahead of 0.94 hurdle cannot be ruled out, as hourly studies are losing traction, with loss of psychological / trendline support at 0.93 to further delay bulls, while only loss of 0.92 handle would revive bears. Conversely, break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next.
Res: 0.9365; 0.9384; 0.9393; 0.9424
Sup: 0.9317; 0.9300; 0.9250; 0.9200
EURUSD
The Euro remains under pressure, with fresh leg lower, following brief consolidation, probing levels below 1.37, psychological support. Technicals are negative on all timeframes, with price action establishing below daily cloud that keeps at the downside, looking for final push to key short-term support at 1.3670. Break here to confirm an end of corrective 1.3670/1.3992 phase and signal double-top formation, bearish pattern, which may trigger more significant retracement of larger uptrend that commenced from 1.2042, 2012 low. Corrective actions are seen limited with initial barrier at 1.3770, previous consolidation top and rallies to be capped at 1.38 zone, Fibonacci 38.2% of the downmove from 1.3992 to 1.3688. Any break above here would delay immediate bears.
Res: 1.3773; 1.3800; 1.3840; 1.3876
Sup: 1.3688; 1.3670; 1.3642; 1.3619
GBPUSD
Cable continues to trend lower and posted marginally lower low at 1.6817, approaching psychological 1.68 support, also Fibonacci 38.2% retracement of 1.6464/1.6995 upleg. Near-term studies are negative and favor further downside, while bulls are still in play on the larger timeframe that requires reversal above 1.6760 higher platform, to maintain the structure in positive mode for fresh attempt higher and repeated attack at psychological 1.70 barrier. Extension below 1.6760, however, to sideline bulls, confirm reversal and open 1.6730, 50% retracement and 1.6700, round figure, in extension.
Res: 1.6885; 1.6900; 1.6927; 1.6973
Sup: 1.6817; 1.6800; 1.6760; 1.6730
USDJPY
The pair lost traction and fell below 102 support, Fibonacci 38.2% retracement of 101.45/102.35 upleg. This weakens the structure, as hourly technicals turned negative and threatens further downside. On the other side, 4-hour studies are still positive and see possibility for fresh attempt higher that requires 101.79, Fibonacci 61.8% retracement level, to hold. Such scenario sees potential of higher low formation that requires regain of 102.35 high, to confirm and resume near-term bulls off 101.45. Otherwise, fresh push lower and pressure at strong 101.40/20 support zone, with corrective attempts being rejected under 102.35, would be likely near-term scenario.
Res: 102.00; 102.35; 102.78; 103.00
Sup: 101.79; 101.42; 101.31; 101.20
AUDUSD
The pair regained positive near-term tone after pullback from 0.9393 high found support at 0.9332 and fresh strength eventually broke above psychological 0.94 barrier, to complete cup and holder reversal pattern. Overall bullish tone sees test of key 0.9460 barrier as likely scenario, as the price action continues to move higher, above main bull-trendline. Clear break above 0.9460 is required to confirm bullish resumption and open psychological 0.9500 barrier next. Corrective dips should not exceed 0.9360, Fibonacci 61.8% of entire rally from 0.9332, to keep bulls in play.
Res: 0.9439; 0.9450; 0.9500; 0.9541
Sup: 0.9378; 0.9360; 0.9345; 0.9332
GOLD
Spot Gold remains in near-term sideways mode, after false attempts to break out of the range in both directions. Overall tone remains negatively aligned and keeps the downside vulnerable, as the price establishes below the first breakpoint at 1300, reinforced by 20/200 SMA death cross. Barriers at 1300 and 1315 lower platform, reinforced by daily 55SMA, arE expected to cap recovery attempts, ahead of fresh push lower. Break below fresh low at 1277, to open next supports at 1273/68. Conversely, fresh gains above 1315 barrier to delay bears, however, regain of key near-term barrier and recent range top at 1330, is required to neutralize bears and signal stronger recovery.
Res: 1298; 1303; 1306; 1315
Sup: 1290; 1284; 1277; 1273
EURUSD
The Euro remains under pressure and moved lower, ending brief consolidation above 1.37 handle. Overall bearish tone keeps the downside preferred, with consolidative action expected to hold below initial 1.3770 barrier, ahead of fresh push lower. Key near-term target lies at 1.3670, 04 Apr low, break of which to confirm completion of short-term corrective phase and signal double-top formation ahead of further weakness. Corrective actions should be capped by 1.38 psychological / Fibonacci 38.2% resistance, to keep bears intact. Alternatively, rally above 1.38 handle would signal stronger recovery and put bears on hold.
Res: 1.3700; 1.3729; 1.3773; 1.3800
Sup: 1.3642; 1.3619; 1.3600; 1.3561
GBPUSD
Cable remains pressured and continues to move lower, eventually breaking below 1.68 support and posting fresh lows on approach to 1.6700, psychological support. Near-term studies are negative and favor further downside, as bulls on the larger timeframe lost momentum and will be likely sidelined in favor of fresh weakness. Loss of 1.6730/20, 50% retracement of 1.6464/1.6995 upleg / daily 55SMA, is required to confirm. Corrective rallies face immediate barrier at 1.6775/85, ahead of 1.68 zone, while 1.69 lower top and Fibonacci 61.8% of descend from 1.6995, should keep the upside attempts limited.
Res: 1.6785; 1.6800; 1.6829; 1.6873
Sup: 1.6730; 1.6700; 1.6667; 1.6650
USDJPY
The pair lost traction and fell below 102 handle, posting fresh low at 101.66, Fibonacci 76.4 retracement of 101.42/102.35 ascend. Fresh bulls, established on a rally from 101.42 and break above 102 handle, are now on hold, as neart-term studies turned negative. This shifted focus lower for possible retest of very strong 101/40/20 support zone. However, bulls may be revived if fresh recovery attempts emerge above 102 and regain 13 May’s fresh high at 102.35, where rally was capped by daily cloud base. Otherwise, negative tone would prevail and focus lower boundaries short-term range.
Res: 102.00; 102.15; 102.35; 102.78
Sup: 101.78; 101.66; 101.42; 101.31
AUDUSD
The pair’s general positive tone remains in play after probe above 0.94 barrier and subsequent pullback to 0.9360, also Fibonacci 61.8% of 0.9332/0.9407 upleg. Extended consolidation is expected to precede eventual push towards key 0.9460 barrier, 10 Apr peak, to complete corrective phase and resume broader uptrend. Clear break higher to expose 0.9500, round figure resistance and 0.9541, 03 Nov 2013 peak in extension. Only loss of 0.9320 trendline support would delay bulls, while break below key 0.9200 handle is required to bring bears in play.
Res: 0.9383; 0.9400; 0.9460; 0.9500
Sup: 0.9360; 0.9345; 0.9332; 0.9320
EURUSD
The Euro probed levels below important 1.3670 support, with broken bull-trendline off 1.3665 previous high, containing dips at 1.3647 for now. Quick recovery to 1.37zone, where gains are so far capped by daily cloud base, may signal hesitation ahead of fresh weakness and clear break lower which is required to confirm double-top pattern formation and trigger further weakness. Failure to complete the third weekly close in red, could be supportive for near-term pause in weakness and possible stronger recovery. Hourly studies are neutral, as the price trades in a narrow range around 1.37 handle, however, overall picture remains bearish and unless price regains 1.3770/80, lower platform / Fibonacci 38.2% of 1.3992/1.3647 descend and 1.3800 round figure barrier, downside risk would remain in play. Loss of 1.3647 temporary handle to open 1.3623, 200 SMA and psychological 1.36 support initially, with 1.3519, 38.2% retracement of larger 1.2754/1.3992 upleg, seen in extension. Rally above 1.38 handle would signal fresh upside.
Res: 1.3731; 1.3779; 1.3800; 1.3820
Sup: 1.3700; 1.3683; 1.3647; 1.3619
GBPUSD
Cable holds overall bearish tone, with loss of 1.68 handle posting fresh low at 1.6730, 50% retracement of 1.6464/1.6995 ascend. Consolidative action through 1.68 barrier, improved near-term structure, however, upside is seen limited while the price holds below 1.69 breakpoint, near 61.8% retracement of 1.6995/1.6730 and lower top of 12 May, with fresh leg lower expected to commence from levels below this point. Fresh weakness through 1.67 handle to open Fibonacci 61.8% retracement level at 1.6667, next, with 100SMA at 1.6627 and 1.66, round – figure support seen in extension.
Res: 1.6839; 1.6872; 1.6900; 1.6937
Sup: 1.6800; 1.6782; 1.6752; 1.6730
USDJPY
The pair maintains negative tone after fall below 102 handle, re-tested strong supports and short-term base at 101.40/20 zone. As the structure turned negative, immediate risk is shifted towards the downside, with clear break below 101.20 base, required to confirm. Immediate target lies at 101 support and more significant 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Further consolidation above 101.20 would signal extended sideways movements, while break above 103 barrier is required to bring bulls back in play.
Res: 101.66; 102.00; 102.11; 102.35
Sup: 101.20; 101.00; 100.74; 100.00
AUDUSD
The pair continues to trade in near-term consolidative mode below fresh high at 0.9407, with downside being so far protected at 0.9330 zone, Fibonacci 38.2% retracement of 0.9201/0.9407 upleg. Further weakness is not ruled out as hourly studies are bearish and 4-hour technicals are turning negative, however, extension lower should hold above 0.9300 psychological / 50% retracement support to keep overall bullish picture intact. Fresh leg higher needs to clear 0.9400 barrier for eventual push towards key 0.9460 peak and near-term target. Conversely, loss of 0.93 handle would sideline bulls.
Res: 0.9372; 0.9407; 0.9460; 0.9500
Sup: 0.9325; 0.9300; 0.9280; 0.9350
EURUSD
The Euro remains directionless and trades within narrow range, around 1.37 handle in past few sessions. Probe below 1.3670 support, 04 Apr low and breakpoint, was short-lived and showed false break for now. However, upside attempts were also limited and so far capped by daily 100SMA, with near-term price action being entrenched between 1.3647 and 1.3733 range. Near-term technicals are generally neutral and suggest further range-trading, while larger picture remains bearish that keeps downside targets in focus. Fresh attempts lower require clear break below 1.3670 and fresh low at 1.3647, to confirm bearish resumption towards 1.3626, 200 SMA and psychological 1.36 support. Alternative scenario requires sustained break above 1.38 barrier, reinforced by daily 20/55SMA’s bear-cross, to sideline bears and allow for stronger recovery
Res: 1.3735; 1.3779; 1.3800; 1.3820
Sup: 1.3700; 1.3683; 1.3647; 1.3619
GBPUSD
Cable trades in near-term corrective phase off fresh low at 1.6730. Rallies were so far capped by daily 20 SMA, with near-term technicals being in neutral/negative mode. On the other side, larger timeframes’ studies are losing momentum that sees downside risk still in play. Yesterday’s Doji confirm near-term indecision and keeps risk of lower top formation, ahead of fresh weakness. Break below 1.6730 support, also daily 55SMA, to confirm bearish scenario and resume larger bears off 1.6995 towards Fibonacci 61.8% retracement level at 1.6667, with 100SMA at 1.6634 and 1.66, round- figure support seen in extension. Only break above 1.69 barrier would neutralize bears.
Res: 1.6843; 1.6872; 1.6900; 1.6937
Sup: 1.6800; 1.6782; 1.6752; 1.6730
USDJPY
The pair maintains overall negative tone, as weakness off 102.35, recovery rejection level, dented strong supports and short-term base at 101.40/20 zone. Overall structure is negative and keeps risk towards the downside, with clear break below 101.20 base, required to confirm. Immediate targets lie at 101.20/00 supports and more significant 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Current consolidation above 101.20 would signal prolonged sideways movements, while only break above 103 barrier would revive bulls.
Res: 101.66; 102.00; 102.11; 102.35
Sup: 101.10; 101.00; 100.74; 100.00
AUDUSD
The pair lost ground and fell below 0.9300 handle, after break below initial 0.9330 support and previous consolidation range. Near-term studies lost traction and fell into negative territory that risks further weakness and possible full retracement of 0.9201/ 0.9407 ascend. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation under fresh peak at 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next strong support lies at 0.9154 and marks Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play.
Res: 0.9300; 0.9330; 0.9372; 0.9407
Sup: 0.9250; 0.9226; 0.9200, 0.9154
EURUSD
The Euro continues to trade in sideways mode, with the upside being capped by 100 SMA at 1.3730 zone for now and holding below daily Ichimoku cloud base at 1.3725. Attempts lower were contained above 1.3670, the first breakpoint that acts as support. Lower timeframes studies are in neutral / negative mode, with overall price action being capped by descending 4-hour 55 SMA. Daily Technicals are negative and see scope for fresh leg lower, after completion of near-term consolidative phase. Fresh attempts lower require clear break below 1.3670 and lows at 1.3647/42, May/Feb lows, to confirm bearish resumption towards 1.3626, 200 SMA and psychological 1.36 support. Conversely, lift above recent peaks would delay bears, however, break above 1.38 barrier, reinforced by daily cloud top and 20/55SMA’s bear-cross, is needed to neutralize bears and signal stronger recovery.
Res: 1.3725; 1.3735; 1.3779; 1.3800
Sup: 1.3700; 1.3687; 1.3676; 1.3647
GBPUSD
Cable trades in near-term corrective phase off fresh low at 1.6730, with fresh strength, developing on lower timeframes. Fresh strength eventually broke above 1.6900 breakpoint, also 61.8% Fibonacci retracement of 1.6995/1.6725 descend, signaling higher low formation and stronger recovery. Daily studies in positive territory, are gaining bullish momentum and support the notion. This opens way towards 1.70 psychological barrier, with corrective actions expected to interrupt. Immediate support lies at previous peak at 1.6860, ahead of 1.6830 and 1.68 breakpoint, loss of which to bring bears back in play.
Res: 1.6937; 1.6973; 1.6995; 1.7041
Sup: 1.6872; 1.6860; 1.6830; 1.6800
USDJPY
The pair maintains overall negative tone, as weakness off 102.35, recovery rejection, eventually broke below strong supports and short-term base at 101.40/20 zone. The structure is negative overall and keep risk towards the downside, with extension below 101.00, opening immediate target at 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Consolidation actions are expected to precede fresh weakness, with 104.40/60 lower tops, expected to ideally cap. Only break above 103 barrier would revive bulls and shift focus higher.
Res: 101.10; 1.10.20; 101.38; 101.59
Sup: 100.74; 100.60; 100.00; 99.14
AUDUSD
The pair maintains negative near-term tone after losing 0.9300 handle, with fresh weakness aiming towards 0.9200 support. Near-term studies are negative and support further weakness for full retracement of 0.9201/ 0.9407 upleg. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation between 0.9200 and 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next strong support lies at 0.9154, Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play. However, overextended conditions of lower timeframes studies, may delay immediate bears, in favor of corrective action, with 0.93 barrier, previous support and Fibonacci 38.2% of 0.9407/0.9215 descend offering the first strong resistance, ahead of 0.9330, Fibonacci 61.8% and previous range floor, where rallies should be limited.
Res: 0.9260; 0.9300; 0.9330; 0.9372
Sup: 0.9215; 0.9200, 0.9154; 0.9100
GOLD
Spot Gold remains in near-term sideways mode, trading within triangle-shaped narrowing range. Fresh attempt through psychological / 200SMA 1300 barrier, so far did not succeed, as the price holds below triangle’s upper boundary at 1304 and recent peak at 1308, posted on 14 May. The latter marks the first pivot, with break here required to signal further recovery and open next important barrier and range top at 1315, peak of 05 May. Studies on lower timeframes charts are neutral and see no direction for now. Sustained break above 1300 barrier is seen as an initial step for possible further upside, with break higher to confirm scenario. Otherwise, holding below 1300 handle would trigger further weakness. Clear break below 1285/83, recent lows and triangle support, to confirm bearish resumption and open 1277/73, ahead of key support at 1268, 24 Apr low.
Res: 1296; 1300; 1305; 1309
Sup: 1285; 1283; 1277; 1273
EURUSD
The Euro eventually broke below breakpoint at 1.3670, ending near-term consolidative phase and commencing fresh leg lower. The price spiked lower to 1.3633 so far, ticks away from 200SMA, with subsequent bounce being capped below 1.37 barrier, former consolidation floor. This is seen as initial signal of an end of two-month congestion and fresh bear-phase that also confirms double-top formation which could trigger more significant downside, as the price action establishes below 1.37 handle. Break below 1.3626, 200SMA, to confirm bearish resumption towards psychological 1.36 support, also Fibonacci 76.4% of larger rally from 1.3475 to 1.3992, lowest and the highest price seen in 2014 so far, with 1.3561, Feb lower top, seen in extension. Correction top at 1.3687, offers initial resistance, reinforced by hourly 55SMA, and should, along with 1.37 hurdle, ideally cap the upside attempts. Only break above previous range tops at 1.3730 zone would sideline immediate bears for fresh rally towards strong 1.3773 barrier, 12/13 / 05 lower tops / Fibonacci 38.2% of 1.3992/1.3633 descend
Res: 1.3725; 1.3735; 1.3779; 1.3800
Sup: 1.3647; 1.3633; 1.3600; 1.3561
GBPUSD
Cable maintains overall positive tone, as rally from 1.6730, correction low, probed above 1.69 barrier, with 1.6919, the highest seen so far. Near-term congestion fresh high is under way, with the downside being contained at 1.6855, near 38.2% retracement of 1.6730/1.6919 upleg and price action underpinned by 4-hour 20/55SMA bullish cross. While the latter levels stay intact, fresh upside attempts will remain in play, with the price’s move above 1.6919 and firm break higher, required to resume near-term uptrend from 1.6730 and open Fibonacci 76.4% at 1.6932, ahead of lower top at 1.6973 and psychological 1.7000 barrier in focus. Alternatively, slide below 1.6850 support zone, would delay bulls.
Res: 1.6902; 1.6919; 1.6932; 1.6973
Sup: 1.6874; 1.6855; 1.6825; 1.6800
USDJPY
The pair maintains overall negative tone, as weakness off 102.35, recovery rejection level, broke below strong supports and short-term base at 101.40/20 zone as well as psychological 101 support. Subsequent bounce to the levels that mark 61.8% retracement of 102.32/100.81 downleg, signal further hesitation at this important support zone. However, the structure is negative overall and will keep risk towards the downside, as long as the price holds below 102 barrier, with clear break below 101.20 base, required to confirm. Near-term target lies at 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Extension of the current correction above 102 handle, to delay bears for further sideways trading, while only break above the larger range top at 103, would provide relief and open way for stronger recovery.
Res: 101.75; 102.00; 102.11; 102.35
Sup: 101.60; 101.34; 101.10; 100.81
AUDUSD
The pair maintains negative near-term tone, with fresh weakness aiming towards 0.9200 support, as the price fell ticks away from this support. Overall picture is negative and looks for further weakness and full retracement of 0.9201/ 0.9407 ascend. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation under fresh peak at 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next supports lie at 0.9172, 200SMA, ahead of 0.9154 Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play. Current correction on overextended conditions of lower timeframes studies, delays immediate bears for corrective action, with 0.93 barrier, previous support and Fibonacci 38.2% of 0.9407/0.9215 descend, offering the first strong resistance, ahead of 0.9330, Fibonacci 61.8% and previous range floor, where rallies should be limited.
Res: 0.9272; 0.9288; 0.9300; 0.9330
Sup: 0.9255; 0.9207; 0.9200; 0.9172
EURUSD
The Euro remains under pressure and returns to the levels near 1.36 support, following brief corrective attempt, which was capped under 1.3670, previous break point, with marginally lower low being posted at 1.3611. Near-term technicals are negative and favor further downside, with break below 1.36 handle to open the next targets at 1.3561, 12 Feb higher low; 1.3519, 38.2% retracement of larger 1.2754/1.3992 ascend and psychological 1.35 support, in extension. Alternative scenario, from the other side, requires confirmation of reversal, signaled by yesterday’s outside day candle, by close above initial 1.3667, recovery peak and 1.3672, Fibonacci 38.2% retracement of 1.3733/1.3611 downleg, to revive bulls and signal double-bottom formation. Extension above 1.3733 lower platform to confirm near-term base and open way for stronger recovery.
Res: 1.3637; 1.3670; 1.3687; 1.3733
Sup: 1.3625; 1.3611; 1.3600; 1.3561
GBPUSD
Cable came under pressure yesterday, after leaving lower top at 1.6880 and fresh acceleration through bull-trendline support at 1.6835, which retraced over 76.4% of 1.6730/1.6919 upleg. Near-term indicators are in the negative territory that keeps risk of full retracement of 1.6730/1.6919 rally and resumption of larger descend from 1.6917, on penetration of 1.6730 higher low. Fresh weakness below 1.6795, main bull-trendline, drawn off 1.6464, 24 Mar low and previous low at 1.6780, confirms the scenario, as daily studies are building up bearish momentum and being supportive.
Res: 1.6813; 1.6832; 1.6880; 1.6902
Sup: 1.6752; 1.6730; 1.6700; 1.6667
USDJPY
The pair remains supported and posted fresh high at 102.13, with consolidative action under way, before fresh attempt higher. Consolidation low at 101.70 zone, reinforced by 20/55SMA’s bullish cross, is expected to hold and maintain positive structure, formed on 4-hour chart, to fulfill minimum requirement for bullish resumption on a break above 102.35, 13May lower top / daily cloud base. Otherwise risk of lower top forming under 102.35, would remain in play, as daily studies hold negative tone and overall price action being capped by 100SMA, which reinforces 102.35 barrier.
Res: 102.04; 102.13; 102.35; 102.49
Sup: 101.70; 101.63; 101.31; 101.10
AUDUSD
The pair holds near recovery highs, but fresh extension higher, seen yesterday, failed to break above initial barriers at 0.9272, recovery high and 0.9283, Fibonacci 38.2% retracement of 0.9407/ 0.9207 descend. Near-term studies remain positively aligned and supportive for further gains through 0.9283/0.9300 barriers, to re-confirm 0.9200 base and bring bulls back in play for further retracement of 0.9407/0.9207 fall. Break higher to open psychological 0.93 barrier, also 50% retracement and daily cloud base and 0.9330, previous consolidation range floor and 61.8% retracement. Conversely, slide below 0.9230, recent lows, to bring bears back in play and re-focus 0.92 support.
Res: 0.9276; 0.9283; 0.9300; 0.9330
Sup: 0.9250; 0.9230; 0.9200; 0.9172
EURUSD
The Euro lost traction and weakened near-term tone off 1.3585 low, after Friday’s acceleration higher peaked at 1.3649, 76.4% of 1.3667/1.3585 downleg and subsequent pullback lost again 1.36 handle. Negative tone gaining studies on hourly and indicators below the midlines on 4-hour chart, are sidelining fresh attempts towards cracked 200SMA at 1.3640 and further upside that requires clearance of initial 1.3667, 27 May lower top, to signal recovery extension towards the next breakpoints at 1.3733/40, mid-May lower platform / Fibonacci 38.2% retracement of 1.3992/1.3585 fall. Instead, formation of Morning Star reversal pattern on a daily chart, is now under question mark, with downside risk towards 1.3585 and fresh extension of larger downmove from 1.3992, seen as favored in the near-term. Break lower to confirm an end of recovery phase and open next targets at 1.3561, 12 Feb low; 1.3519, Fibonacci 61.8% of larger 1.2754/1.3992 upleg and psychological 1.3500 support, in extension.
Res: 1.3649; 1.3667; 1.3687; 1.3733
Sup: 1.3585; 1.3561; 1.3519; 1.3500
GBPUSD
Cable remains under pressure, with near-term price action being in corrective mode after denting psychological 1.67 support. The recovery is so far limited, as the price remains capped by 38.2% retracement of 1.6917/1.6691 at 1.6777, with break here and psychological 1.6800 hurdle, required to open stronger recovery. Key near-term barrier and the first pivot lies at 1.6860, bear-trendline off 1.6995 peak and break here is required to confirm reversal, signaled by Morning Star pattern formation on a daily chart. Otherwise, extension of larger bears off 1.6995 would remain in play, as larger picture remains bearish. Slide below fresh low at 1.6691 is required to confirm scenario and open 1.6667, Fibonacci 61.8% of 1.6464/1.6995 and 1.6600, round figure support, in extension lower.
Res: 1.6760; 1.6776; 1.6800; 1.6835
Sup: 1.6723; 1.6703; 1.6691; 1.6667
USDJPY
The pair continues to consolidate under fresh high at 102.13, with the downside being so far contained by 101.41, near 50% retracement of 100.81/102.13 ascend. Near –term studies are positive, as the price trades near the upper barriers, with break above 102.13, required to signal resumption of recovery rally off 100.81 and open next pivot at 102.35, 13 May peak / near daily cloud base. Alternatively, failure to clear 102.13, would risk further consolidation, while slide below 101.41, 29 May low and retest of multi-month base at 101.20, would risk further weakness, with break below low at 100.81/74, 21 May spike low / 04 Feb low, to spark fresh bear-phase and resumption of larger downtrend from 105.43, 02 Jan year-to-date high.
Res: 102.13; 102.35; 102.78; 103.09
Sup: 101.83; 101.67; 101.41; 101.20
AUDUSD
The pair came under pressure after recovery rally from 0.9207 stalled at 0.9330, Fibonacci 61.8% retracement of 0.9407/0.9207 descend and subsequent acceleration lower weakened near-term technicals, retracing over 61.8% of 0.9207/0.9330 upleg. Near-term risk is skewed towards the downside, as 4-hour studies are turning negative and see risk of full retracement of 0.9207/0.9330 upleg. Formation of daily Evening Star Pattern, confirms the notion. Near-term bears may be delayed as hourly studies are oversold, however, only break above 0.9330 lower top would provide relief.
Res: 0.9274; 0.9287; 0.9312; 0.9330
Sup: 0.9238; 0.9207; 0.9177; 0.9121