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Thread: Short Term Technical Analysis for Majors by WindsorBrokers

  1. #351
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)

    EUR/USD
    The near-term range ceiling at 1.3380 zone stays intact for now, as today’s renewed attempt higher, failed t break higher, stalling at 1.3380. Subsequent weakness brings last Friday’s low / trendline support at 1.3300 in focus. Break here would weaken the structure in favor of extension towards next array of supports at 1.3280/50 zone, with loss of the latter to signal near-term top and sideline bulls. Hourly and 4H studies are pointing lower and keep the downside vulnerable.

    Res: 1.3330, 1.3375, 1.3384, 1.3400
    Sup: 1.3300, 1.3290, 1.3280, 1.3250





    GBP/USD
    Short-term bulls extended gains today and post fresh yearly high at 1.6061. Sharp reversal from here was triggered on overbought hourly studies and MACD bearish divergence, shown on 1 and4H charts. Break below initial support at 1.6036, previous high and attempt through 1.6000, would weaken the near-term structure in case 1.6000 support gives way for extension towards 1.5980/65, next support zone. Larger timeframe’s structure remains positive and only loss of 1.5920//00 would sideline bulls and open way for fresh weakness.

    Res: 1.6025, 1.6036, 1.6050, 1.6061
    Sup: 1.5980, 1.5965, 1.5950, 1.5900





    USD/JPY
    Remains under pressure, as reversal off today’s high at 83.30, just ahead of strong barrier at 83.38, where gains stalled. Loss of 83.00 handle and 55 day EMA at 82.75, triggered fresh extension lower, with 82.00 zone coming under pressure, as hourly studies are breaking below the midlines that may risk retest of key near-term support and breakpoint at 81.95/85, loss of which to spark further retracement of two-month rally of 76.00/84.17.

    Res: 82.50, 83.00, 83.30, 83.38
    Sup: 82.00, 81.96, 81.85, 81.50





    USD/CHF
    Bounce off today’s low at 0.9000 is seen corrective, as overall picture remain negative. However, some improvement is seen on hourly chart, with clearance of the first barriers at 0.9090/0.9100 needed to ease immediate bear-pressure and allow for further correction, otherwise, risk is seen of lower top, before bears take control. Break below 0.9000 to expose key short-term support at 0.8930, end of Feb double-bottom.

    Res: 0.9091, 0.9100, 0.9135, 0.9177
    Sup: 0.9043, 0.9025, 0.9015, 0.9000


  2. #352
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)

    EUR/USD
    The near-term structure weakens again, as today’s attempt towards key barrier at 1.3380 zone, failed at 1.3366 and subsequent weakness pushed the price through trendline support at 1.3330, to test the top of strong support zone at 1.3300/1.3280 so far. This pushes hourly studies towards the negative territory, with similar situation on 4H chart, where indicators are pointing lower. Unless today’s high at 1.3366 is regained, near-term outlook remains in a neutral/negative mode, with risk of losing 1.3300/1.3280 handles for extension towards next significant support and near-term range floor at 1.3250, below which to possibly signal near-term top.

    Res: 1.3324, 1.3354, 1.3366, 1.3384
    Sup: 1.3300, 1.3277, 1.3265, 1.3250





    GBP/USD
    The pair comes under increased pressure after failing to regain 1.6061, yesterday’s fresh high. Reversal under 1.6000 support, also dented the next support zone at 1.5980/60, also Fib 38.2% of 1.5841/1.6061 upleg. With hourly studies losing momentum, near-term outlook remains aligned towards the downside, with break below 1.5930/25, 5 day EMA / Fib 61.8%, required to sideline short-term bulls. Larger picture, however, maintains bullish tone, as 200 day MA at 1.5850, underpins the price action, with initial target at 1.6100 still in focus.

    Res: 1.5991, 1.6000, 1.6045, 1.6061
    Sup: 1.5965, 1.5950, 1.5925, 1.5900





    USD/JPY
    The near-term recovery attempt off yesterday’s low at 81.54 holds around initial barrier at 82.20 for now, with regain of momentum seen on hourly chart that may spark further correction towards next significant barrier at 82.60. Negative tone on 4H and daily charts, however, sees no much potential for stronger recovery. While the key near-term resistances at 83.00/30 stay intact, risk exists for further correction and test of 81.05, Fib 38.2% of 79.00/84.17.

    Res: 82.22, 82.50, 82.60, 83.00
    Sup: 82.00, 81.82, 81.50, 81.05





    USD/CHF
    Near-term price action remains in a choppy range trade, during the past couple of days, as 0.9000 holds the downside and upside attempts stay capped at 0.9069. Hourly studies are neutral, but structure on 4H chart is more negative and sees the current consolidation preceding fresh weakness and attack at key support at 0.8930, as long as 0.9100 zone caps the upside. Negative tone dominates also on the daily chart, after the pair broke below bull trendline drawn off 0.8930.

    Res: 0.9046, 0.9069, 0.9091, 0.9100
    Sup: 0.9012, 0.9000, 0.8958, 0.8930


  3. #353
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)

    EUR/USD
    EUR/USD extends fall from yesterday, as Fibonacci 61.8% level at 1.3147 and 1.3132, 22 Mar low are cleared, with round figure support at 1.3100 now in focus. Strong support before our key downside targets at 1.3000 and 1.2973, 15 Mar low, lies at 1.3050 zone, where is low of 16 Mar and daily Ichimoku cloud base. Negative near-term studies continue to drive the pair lower, with no signal of correction, despite overextended hourly conditions.

    Res: 1.3132, 1.3180, 1.3191, 1.3250
    Sup: 1.3100, 1.3050, 1.3000, 1.2973





    GBP/USD
    The pair continues to trend lower, as minor supports at 1.5859/41 are out, opening way for the next array of supports at 1.5831, 50% retracement of 1.5600/1.6061 ascend, 1.5800, 26 Mar low and 1.5770, 22 mar low / Fib 61.8%. Outlook on lower timeframes remains negative, with hourly studies in oversold zone, suggesting possible corrective action.

    Res: 1.5859, 1.5900, 1.5916, 1.5965
    Sup: 1.5831, 1.5800, 1.5770, 1.5743




    USD/JPY
    Failure to break above 83.00 handle, reached late yesterday, triggered correction lower, where 82.50 zone was seen as good support to complete hourly bullish flag, before resuming higher. However, today’s fresh weakness under 82.50 has fully retraced yesterday’s strong rally off 82.00 , where the pair is currently attempting to base, but weaker near-term structure reduces possibility of further significant gains. Initial and strong barrier at 83.00 needs to be cleared to confirm near-term bullish stance off 81.54, otherwise, the latter may come in focus again.

    Res: 82.69, 83.00, 83.29, 83.38
    Sup: 82.00, 81.82, 81.50, 81.05





    USD/CHF
    Strong rally off 0.9000 base regained important barrier at 0.9175, 22 Mar high / 50% of 0.9333/0.9000, with further extension higher and test of next hurdle at 0.9200, 15 mar low / Fib 61.8%, seen next. Near-term structure remains positive, however, overbought conditions on both, 1 and 4H charts warn of corrective pullback. Initial support lies at 0.9133, while strong support zone at 0.9100/0.9080 is expected to keep the downside protected, to prevent retest of 0.9000.

    Res: 0.9181, 0.9200, 0.9252, 0.9300
    Sup: 0.9133, 0.9100, 0.9080, 0.9075


  4. #354
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The pair undergoes mild correction after hitting fresh low just above 0.9100 supports, yesterday. Corrective rally was so far capped at 1.3150 zone by 20 day EMA. Hourly studies emerged from oversold zone, seeing potential for further recovery, however, situation on 4H chart shows more negative tone. To improve current structure, regain of minimum 1.3200 zone, where also Fib 31.8% of 1.3380/1.3106 descend lies. The recent fall weakened daily structure, as studies approach the midlines, suggesting that corrective action would be limited and fresh weakness seen as likely scenario. Break below 1.3100 low and main bull trendline, to open key short-term support zone at 1.3000/1.2973, lows of 15 Mar / 16 Feb.

    Res: 1.3157, 1.3180, 1.3191, 1.3210
    Sup: 1.3136, 1.3100, 1.3050, 1.3000





    GBP/USD
    Near-term corrective phase off yesterday’s low at 1.5832 holds at 1.5900, initial resistance zone, after regaining 200 day MA that was briefly broken. Improvement on hourly chart studies, keeps hopes for further recovery, with lift above 1.5920/30 zone, Fibonacci level and 20/55 day EMA’s required, but prospects remain limited as larger timeframes studies hold more negative tone. Loss of 200 day MA at 1.5850 and yesterday’s low at 1.5832 to expose next targets at 1.5800 and 1.5770.

    Res: 1.5908, 1.5920, 1.5930, 1.5950
    Sup: 1.5878, 1.5850, 1.5832, 1.5800




    USD/JPY
    Near-term price action remains entrenched within 82.00/83.00 range, with tone skewed towards the downside, as hourly studies broke below the midlines and 20 day EMA limiting the upside during Asian session. Risk is seen on los of strong near-term support at 82.00 that would weaken the tone further and re-attract recent low at 81.54, loss of which to signal further retracement of 76.00/84.17 rally and open Fibonacci level at 81.05. Only lift above 83.00 handle would avert immediate downside risk.

    Res: 82.34, 82.67, 83.00, 83.29
    Sup: 82.00, 81.82, 81.50, 81.05





    USD/CHF
    Corrects the near-term recovery rally off 0.9000 that peaked at 0.9181, strong resistance. Shallow reversal was so far contained by hourly 20 day EMA and just above Fib 23.6 of 0.9000/0.9181 upleg, with hourly studies still above the midlines, seeing potential of base. Indicators on 4H chart are more supportive, as holding positive tone and coming out of overbought territory. Firm break above 0.9180/0.9200, also Fib 61.8% of larger downmove from 0.9333 to 0.9000, is required to resume recovery and confirm bottom at 0.9000. Only break below 0.9100 would harm the near-term structure.

    Res: 0.9181, 0.9200, 0.9252, 0.9300
    Sup: 0.9142, 0.9135, 0.9113, 0.9100


  5. #355
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)

    EUR/USD
    Continues to trend lower, after overnight brief correction that was capped at 1.3163. Fresh weakness through 1.3050, 16 Mar low / daily Ichimoku cloud base, now opens way towards significant support zone at 1.3000/1.2973, Feb/Mar lows. Negative tone dominates on near-term studies, with no signals of reversal, despite being in oversold territories. Initial resistances lie at 1.3100/32.

    Res: 1.3100, 1.3132, 1.3163, 1.3180
    Sup: 1.3038, 1.3025, 1.3000, 1.2973




    GBP/USD
    Slide off 1.6061, yearly high, was interrupted today by brief corrective bounce off 1.5832, with gains being limited at 1.5900, before bears took control. Fresh weakness broke below 200 day MA at 1.5845 and yesterday’s low at 1.5832, also 50% of 1.5600/1.6061 upleg, signaling further retracement. Immediate downside targets lie at 1.5800 and 1.5770, while today’s high at 1.5908 caps the upside for now.

    Res: 1.5841, 1.5859, 1.5900, 1.5908
    Sup: 1.5816, 1.5800, 1.5770, 1.5743




    USD/JPY
    Near-term structure weakened further after loss of 82.00 base. Dips so far reached 81.82, ahead of quick reversal above 82.00 barrier. This is seen corrective, as long as yesterday’s intraday high and 55 day EMA at 82.60 zone stay intact and only break here to improve near-term negative outlook. Hourly RSI emerged from oversold zone, while other indicators hold negative tone, while 4H studies remain negative, keeping the downside vulnerable for retest of previous low at 81.54, below which to open 81.00 zone next.

    Res: 82.34, 82.67, 83.00, 83.29
    Sup: 82.00, 81.82, 81.50, 81.05





    USD/CHF
    Remains in a strong uptrend from 0.9000 base, after brief pause off 0.9181, ended at 0.9141. Fresh strength surged through 0.9181 and 0.9200, Fib 61.8% of 0.9333/0.9000, to signal further recovery towards next barrier at 0.9250, 16 Mar high. Near-term positive structure remains supportive although studies are quite extended. Today’s intraday high and correction floor at 0.9181/41, offer initial support.

    Res: 0.9221, 0.9252, 0.9300, 0.9333
    Sup: 0.9181, 0.9141, 0.9135, 0.9116


  6. #356
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Continues to trade within 1.3050/1.3150 range, with near-term price action moving towards the upper side of the range. Hourly studies keep slightly positive tone, with 4H chart studies improving. Break above strong barrier at 1.3165, where 55 day EMA limits the near-term recovery off 1.3032, is required to trigger fresh gains for test of next significant resistance zone at 1.3200/20, where 55/90 day MA’s and trendline resistance lie. Daily studies, still in the negative territory, keep the downside pressured with critical supports at 1.3000/1.2973, broader range floor, remaining in focus, as long as 1.3200 zone caps.

    Res: 1.3156, 1.3163, 1.3191, 1.3200
    Sup: 1.3105, 1.3092, 1.3065, 1.3050




    GBP/USD
    Near-term corrective phase off 1.5800 base, remains limited at 1.5930 zone, 50% retracement of 1.6061/1.5800 downleg, so far. Current test of range ceiling is supported with positive hourly/4H studies, with break higher to avert downside risk and open way towards 1.6000 zone. Loss of 1.5800 platform, however, would bring bears back in play.

    Res: 1.5937, 1.5964, 1.6000, 1.6045
    Sup: 1.5910, 1.5885, 1.5850, 1.5834




    USD/JPY
    Not much action seen after the pair tested our target at 80.57, as near-tern corrective bounce holds at 81.00 zone. Immediate barrier lies at 81.20 and with improving hourly studies, stronger correction through 81.20 towards 81.85/82.00 is not ruled out. However, negative outlook on larger timeframes keeps the downside favored, with 80.00 zone seen as next target, after 80.57 is cleared.

    Res: 81.00, 81.20, 81.66, 81.85
    Sup: 80.61, 80.43, 80.09, 80.00





    USD/CHF
    The pair trades in a neutral mode during the past few days, after the upside was capped at 0.9221. As studies on 4H chart are entering negative territory and brief break below range floor and 55 day EMA at 0.9144, keeps the downside vulnerable. Immediate downside targets lie at 0.9127, yesterday’s low, ahead of 0.9112 50% retracement, while loss of 0.9100 handle would confirm lower top at 0.9221 and re-focus 0.9000 base. On the upside, 0.9180/0.9200 offer good resistance and regain of these levels is required to bring bulls back in play.


    Res: 0.9162, 0.9180, 0.9193, 0.9209
    Sup: 0.9141, 0.9127, 0.9100, 0.9090


  7. #357
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (10:00 GMT)

    EUR/USD
    Bounce off yesterday’s fresh one-month low at 1.2993, when the pair tested the upper border of very strong 1.3000/1.2950 support zone, provided near-term relief. Extension from today’s higher low at 1.3090, broke above yesterday’s high at 1.3146 and dented trendline resistance at 1.3155, with sustained break here required to open way for test of next strong barrier at 1.3200/11, main bear-trendline off 1.4246 / 12 Apr high / 55 day MA and confirm near-term base at 1.2993. Hourly studies are positive, but approaching overbought territory, while indicators on 4H chart are attempting to break above midlines. Daily studies, however, are still in the negative zone and only firm break above 1.3200 barrier would signal an improvement.

    Res: 1.3171, 1.3200, 1.3211, 1.3252
    Sup: 1.3090, 1.3053, 1.3032, 1.3000




    GBP/USD
    The pair’s near-term price action moves in a steep uptrend, after very strong support at 1.5800 zone, also top of daily Ichimoku cloud, contained the latest slide off 1.5984, 12 Apr high. The third leg of recovery from 1.5817, yesterday’s low, started at 1.5861, today’s low, is approaching our key near-term resistance at 1.5984, above which to signal break above near-term range and re-focus 1.6061, yearly high of 02 Apr. Extended hourly studies may signal corrective action, preceding fresh rally, with initial support at 1.5900 zone, expected to protect the downside. Only loss of today’s low at 1.5861 weakens the structure and risks return to 1.5800 support zone.

    Res: 1.5969, 1.5984, 1.6000, 1.6061
    Sup: 1.5910, 1.5900, 1.5861, 1.5841




    USD/JPY
    The near-term consolidation above yesterday’s fresh low at 80.28, is seen as a pause in a broader downtrend off 84.17, yearly high, as short-term studies remain negative, as well as daily ones. As long as previous consolidation range ceiling at 81.18 stays intact, immediate focus will be at the downside, with targets at 80.00 and 79.52, in case 80.28 support gives way. Only lift above 81.18 would allow for stronger correction and open next barriers at 81.54 and 81.81.

    Res: 80.72, 81.00, 81.20, 81.66
    Sup: 80.28, 80.09, 80.00, 79.52





    USD/CHF
    Comes under increased pressure after yesterday’s failure to sustain gains above key barriers at 0.9220 zone, previous high / main bear trendline / 90 day MA, as fresh weakness broke below strong supports at 1.9150/40 zone. Immediate risk is seen on retesting main bull trendline off 0.9000 base, loss of which to open way towards very strong supports at 0.9000 and 0.8930, on a break. Overall negative tone on lower timeframes, keeps the downside pressured, while studies on a daily chart are moving sideways and holding around their midlines.

    Res: 0.9180, 0.9200, 0.9221, 0.9250
    Sup: 0.9120, 0.9100, 0.9090, 0.9069


  8. #358
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The pair starts the week at the back foot, following last week’s strong gains off 1.3000 base that slightly exceeded previous peak at 1.3211. Overnight’s gap lower opening sees potential of corrective action, as hourly studies are pointing lower. Initial supports lie at 1.3170/60, ahead of 1.3140 zone where 55day EMA and Fib 38.2% of 1.2993/1.3223 ascend should contain dips to keep bullish short-term structure intact. Only loss of 1.3110, 90 day MA and 1.3100, figure support, would weaken the structure. Immediate resistance lies at 1.3223, last Friday’s peak, ahead of 1.3235, Fib 61.8% of 1.3385/1.2993 descend and 1.3250/77, 29 Mar / 02 Apr lows.

    Res: 1.3200, 1.3211, 1.3223, 1.3235
    Sup: 1.3170, 1.3160, 1.3140, 1.3120




    GBP/USD
    Remains in a steady uptrend from last week’s low at 1.5817, with fresh high posted last Friday at 1.6142. Daily structure remains bullish, focusing the next target and strong resistance at 1.6164, 31 Oct 2011 high and Fib 61.8% of longer-term descend from 1.6745, 2011 peak, to 1.5233, low of 2012. Overextended studies on 4H chart, however, would signal corrective pullback, with initial support at 1.6100, coming under pressure, ahead of 1.6061, previous high / 20 day EMA. Loss of breakpoint at 1.6000 would turn focus lower.

    Res: 1.6142, 1.6164, 1.6200, 1.6223
    Sup: 1.6100, 1.6061, 1.6037, 1.6008




    USD/JPY
    The near-term structure weakens as the pair, unable to clear 81.80, bear-trendline off 84.08 high, breaks below past few day’s range floor at 81.40. Hourly studies are below their midlines, with 4H chart ones, pointing lower. Immediate focus lies at 81.00 zone, also 50% of 80.28/81.77 upleg, below which to confirm lower top, ahead of possible return to 80.28, last week’s low. Initial barriers lie at 81.40/65, while only break above 81.74/77, trendline resistance / previous peak would signal an extension of short-term bulls from 80.28.

    Res: 81.40, 81.65, 81.77, 82.00
    Sup: 81.16, 81.00, 80.85, 80.28





    USD/CHF
    Maintains negative short-term tone off last weeks’ peak at 0.9250, with break below 0.9100 zone, short-term range floor / Fib 61.8%, further weakening the structure. Today’s gap higher opening, with hourly studies emerging from their extremes, sees potential for stronger corrective action, with initial resistance at 0.9125 being tested so far. Trendline resistance at 0.9156, comes next and only sustained break here to avert immediate downside risk, as studies on 4H chart remain negative. Daily indicators are still holding neutral tone.

    Res: 0.9134, 0.9156, 0.9173, 0.9194
    Sup: 0.9100, 0.9090, 0.9084, 0.9069


  9. #359
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Returns to 1.3150, previous support, after reversal from Friday’s peak at 1.3223, found support at 1.3100 zone, also 50% retracement of 1.2993/1.3223 upleg. Overnight’s trading was moving within very narrow range and in a sideways mode. Fresh momentum on hourly chart sees potential for break higher, as price holds above hourly 20/55 day EMA’s, with immediate resistance at 1.3170 zone, previous highs / Fib 61.8% of the latest fall, break of which to confirm higher low and re-focus key near-term hurdle at 1.3223. Still weak picture on a daily chart sees 1.3200/23 zone as strong barriers, as the price action remains trapped between 55 day MA on the upside and 90 day MA on the downside, currently at 1.3200 and 1.3113, respectively.

    Res: 1.3170, 1.3180, 1.3200, 1.3223
    Sup: 1.3144, 1.3100, 1.3068, 1.3056




    GBP/USD
    Near-term price action holds neutral tone, as the pair continues to consolidate under last Friday’s high at 1.6142, with downside being protected at 1.6075, yesterday’s low. Extended studies on 4-hour chart, reduce possibilities of break higher, with risk seen for stronger correction, in case initial support zone at 1.6075/61, gives way. Significant supports lie at 1.6010 zone, 19 Apr low / Fib 38.2% of 1.5817/1.6142 / 55 day EMA. On the upside, clearance of 1.6142, opens very strong barrier at 1.6164, 31 Oct 2011 high / Fib 61.8% of 1.6745/1.5233 longer-term descend, for test.

    Res: 1.6126, 1.6142, 1.6164, 1.6200
    Sup: 1.6075, 1.6061, 1.6020, 1.6008





    USD/JPY
    Continues to trend lower after recovery rally from 80.28 was capped just under bear-trendline from 84.08. Loss of 81.00 handle has so far tested 80.85, Fib 61.8% of 80.28/81.77 rally, with negative near-term outlook, keeping the downside favored for now. Immediate target lies at 80.57, ahead of key short-term support at 80.28, loss of which would signal an extension of broader reversal from 84.17, 15 Mar annual high and open next targets at 80.00 and 79.52. Strong hourly resistance lies at 81.20, overnight’s high / 55 day EMA and only lift above here would avert immediate downside risk. However, regain of 81.67/77, trendline resistance / 20 Apr high, provides relief.

    Res: 81.00, 81.25, 81.40, 81.67
    Sup: 80.85, 80.57, 80.28, 80.09





    USD/CHF
    Maintains negative short-term tone off 0.9250 peak, following yesterday’s false break above main bear-trendline, drawn off 0.9250. Reversal under the trendline and break below overnight’s range floor at 0.9130, risks retest of key short-term support zone at 0.9100/0.9080, lows of 12 and 20 Apr, as well as Fib 61.8% of 0.9000/0.9250 upleg. Break here to open way for fresh leg lower and expose 0.9000. Initial resistance lies at 0.9140, while only break above 0.9170, yesterday’s high, would improve the short-term structure.

    Res: 0.9140, 0.9150, 0.9170, 0.9187
    Sup: 0.9113, 0.9100, 0.9090, 0.9084


  10. #360
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    No significant changes from last Friday, when the pair reached fresh 4-week high at 1.3269. Overnight price action moved within narrow range , hovering around 1.3250. Positive tone on short-term studies keeps the upside favored, with immediate targets at 1.3269 and 1.3277, 02 Apr low, above which to expose psychological barrier at 1.3300. Overnight’s low at 1.3230 offers initial support, ahead of 1.3200, figure support / 55 day MA, while only break below 1.3157/64, last Friday’s low / Fib 38.2% of 1.2993/1.3269 ascend, would delay bulls.

    Res: 1.3269, 1.3277, 1.3300, 1.3366
    Sup: 1.3229, 1.3211, 1.3200, 1.3157





    GBP/USD
    Maintains strong bullish tone, with gains accelerating after clearance of 1.6200 barrier. Overnight’s gap higher opening confirms upside action towards 1.6300, initial resistance, with clear break here to expose 1.6388, Fib 76.4% of longer-term 1.6745/1.5233 descend. However, overextended conditions on lower timeframes, see risk of corrective pullback. Initial supports lie at 1.6263/28, while strong support at 1.6200 zone is expected to contain.

    Res: 1.6300, 1.6350, 1.6388, 1.6400
    Sup: 1.6263, 1.6253, 1.6228, 1.6205




    USD/JPY
    Remains under strong pressure after upside rejection at 81.77/68, with loss of previous low at 80.28, confirming lower top at 81.77 and extension of broader downtrend from 84.17, annual high. The pair is currently testing 80.00 zone, 50% of 76.00/84.17 and daily Ichimoku cloud base, loss of which to open next support at 79.52, Oct 2011 post-intervention peak. Negative near-term studies keep the downside in focus, however, overextended hourlies, see potential for corrective bounce. Previous low and overnight’s high at 80.28/38, offer initial resistance, with regain of 81.00, 55 day EMA, required to ease bear-pressure and allow for stronger correction.

    Res: 80.28, 80.38, 80.50, 80.74
    Sup: 80.07, 80.00, 79.52, 79.00





    USD/CHF
    Continues to trend lower after losing important support at 0.9100 zone. Last Friday’s upside rejection at trendline resistance at 0.9130 and sharp fall to 0.9050 so far, keeps our next target at 0.9000 in focus. Any bounce higher would be seen as corrective, while only clearance of 0.9130 barrier provides near-term relief. Short-term studies hold negative tone, as the pair attacks daily triangle support at 0.9050.

    Res: 0.9077, 0.9100, 0.9130, 0.9170
    Sup: 0.9050, 0.9015, 0.9000, 0.8930


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