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Thread: Short Term Technical Analysis for Majors by WindsorBrokers

  1. #361
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (08:45 GMT)

    EUR/USD
    The single currency extends its near-term weakness off 1.3282, yesterday’s high, where short-term rally was limited, just ahead of key barrier at 1.3290/1.3300. Brief consolidation above initial support at 1.3200, was short-lived, as more negative data from Eurozone, increased pressure on that pair. Near-term studies weakened further, as the price broke below 1.3200/1.3172 supports, with immediate focus at 1.3157, 27 Apr low and 1.3138, 50% retracement of 1.2993/1.3282 upleg, ahead of more significant support at 1.3100, 23 Apr low / Fib 61.8%. Previous support at 1.3200, now reverts to initial resistance.

    Res: 1.3200, 1.3232, 1.3243, 1.3269
    Sup: 1.3157, 1.3138, 1.3123, 1.3100





    GBP/USD
    Commences the third leg of reversal from 1.6300, 30 Apr fresh 8-month high, after initial attempt to create base at 1.6200 zone failed and recovery attempt being capped at 1.6240 zone. Fresh weakness tests lower levels of 1.6200/1.6185 support zone, with break here to expose next support, at 1.6152, 27 Apr low / 55 day EMA and Fibonacci 38.2%level at 1.6115. Negative tone on near-term studies keeps the downside favored for now and only lift above 1.6250 would improve and avert immediate downside risk. Daily studies, close to extreme points, see risk of stronger reversal.

    Res: 1.6234, 1.6250, 1.6300, 1.6350
    Sup: 1.6185, 1.6152, 1.6115, 1.6100





    USD/JPY
    Yesterday’s bounce off 79.63 fresh 6-month low and 90 day MA, averted immediate downside risk and improved the near-term structure, as price broke above initial barriers at 80.00 and 80.28. However, this is still seen as corrective movement, as larger picture remains firmly bearish. While the price holds below next strong barriers, round figure resistance at 81.00 and main bear-trendline off 84.08 high, at 81.15, risk of further retracement of 76.00/84.17 rally still exists

    Res: 80.65, 80.85, 81.00, 81.20
    Sup: 80.25, 80.00, 79.63, 79.52





    USD/CHF
    The pair remains in a near-term bullish mode, as fresh rally off 0.9070 zone, overnight’s lows and consolidation floor, surged through initial barrier at 0.9100. Gains have so far retraced 38.2% of 0.9250/0.9041 descend, testing breakpoint zone at 0.9120/30, also daily triangle resistance, clearance of which to signal stronger recovery and expose 0.9170, 23 Apr high / Fib 61.8%. Positive tone on near-term studies, sees the pair near-term price action supported, however, overextended conditions on hourly chart, suggest a pause in recent strong gains.

    Res: 0.9130, 0.9145, 0.9170, 0.9200
    Sup: 0.9100, 0.9072, 0.9050, 0.9041


  2. #362
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Extension below 1.2900 support that was lost yesterday, posted fresh 5-month low at 1.2813, overnight, just ahead of figure support at 1.2800. Negative structure sees potential for further weakness, with yearly low at 1.2622 now coming in focus. Any bounce higher, as hourly studies are in oversold territory, is for now seen as corrective, with strong barrier at 1.2900, previous low / 20 day EMA, while only lift above 1.2955/80 would delay bears.

    Res: 1.2860, 1.2880, 1.2900, 1.2955
    Sup: 1.2813, 1.2800, 1.2762, 1.2700





    GBP/USD
    Maintains near-term corrective tone off 1.6050, yesterday’s low, with brief break above 1.6100 handle and 1.6080 zone holding the downside for now. Clearance of 1.6130 zone, yesterday’s high / 55 day EMA / Fib 61.8% of 1.6181/1.6050 downleg is required to confirm near-term base at 1.6050 and open way for stronger retracement. On the downside, penetration of 1.6000 would signal an extension of short-term downtrend off 1.6300.

    Res: 1.6122, 1.6130, 1.6181, 1.6200
    Sup: 1.6084, 1.6050, 1.6000, 1.5984




    USD/JPY
    Brief penetration of 80.00 barrier also daily Ichimoku cloud base and quick reversal, keeps the upside limited for now. However, near-term price action remains supported at 79.80, with prospect for fresh strength still in play, as hourly studies started to point higher. Clearance of yesterday’s high / trendline resistance at 80.17/14 and Fibonacci 38.2% barrier at 80.32 is required to confirm further recovery. Otherwise, fresh attempt lower, as part of broader downtrend from 84.17, would be the likely scenario, as larger picture remains bearish.

    Res: 79.92, 80.00, 80.17, 80.30
    Sup: 79.80, 79.67, 79.42, 79.13





    USD/CHF
    Yesterday’s clearance of strong barrier at 0.9330, has so far reached 0.9371 high, en-route to initial target at 0.9400, with key med-term barriers above 0.9500, coming in focus. Overall positive structure keeps the upside favored, with corrective action on overextended near-term studies under way. Initial support at 0.9330is under pressure, with further reversal expected to find ground at 0.9300 zone, previous high / Fib 38.2% of 0.9193/0.9371 upleg, to keep bulls intact.

    Res: 0.9371, 0.9388, 0.9400, 0.9450
    Sup: 0.9330, 0.9300, 0.9269, 0.9250


  3. #363
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The single currency spirals lower after yesterday’s break below 1.2800 handle and longer-term bull trendline at 1.2770 and today’s loss of the last obstacle at 1.2700, towards 1.2622, January’s yearly low. Negative sentiment keeps the pair under heavy pressure and despite short-term studies being at their extreme levels, the price action continues to increase the pace of descending. Break below 1.2622 to open 1.2586 Aug 2010 low next, with 1.2000/zone expected to come in short-term focus. Initial resistance lies at 1.2720, with more significant barriers at 1.2800/15 and 1.2868.

    Res: 1.2700, 1.2720, 1.2800, 1.2815
    Sup: 1.2622, 1.2586, 1.2550, 1.2500



    GBP/USD
    The pair accelerated losses after losing key supports at 1.6050 and 1.6000, with break below 55 day MA at 1.5959, looking for test of round figure support at 1.5900 and possible extension towards 1.5850, Fib 38.2% of larger 1.5233/1.6300 ascend. Loss of bullish momentum on daily studies sees risk of further weakness, with test of 200 day MA at 1.5828 and strong support and higher platform at 1.5800, seen on a break below 1.5900. Near-term studies are overextend, yet no firm signals of any corrective action. Previous supports at 1.6000/50 are now reverted to initial barriers.

    Res: 1.5971, 1.6000, 1.6050, 1.6065
    Sup: 1.5947, 1.5900, 1.5852, 1.5900




    USD/JPY
    Clearance of strong resistance zone at 80.00, where 90 day MA and main bear trendline off 84.08, were limiting recent upside attempt, has so far extended gains to 80.43. Positive near-term sentiment keeps the upside in focus, with next target at 80.60, 02 may high / Fib 38.2% of 81.77/79.42 downleg. Break here is required to confirm base at 79.42 and allow for stronger recovery, with 80.90/81.00 to come in focus. Broken 90 day MA, now underpins the rally, along with 20/55 day EMA’s crossover at 80.00.

    Res: 80.43, 80.60, 80.90, 81.00
    Sup: 80.32, 80.15, 80.00, 79.67



    USD/CHF
    Accelerates gains after clearance of strong barriers at 0.9330 and 0.9400, with yearly high at 0.9593, posted in mid January, now coming in focus. No significant obstacles seen on a way towards 0.9593, with positive but extremely overextended near-term studies, underpinning the advance and not showing any signs of fatigue for now. Initial support lies at 0.9400, ahead of 0.9360 zone, Fibonacci support / 20 day EMA. On the upside, figure resistance comes first at 0.9500, ahead of 0.9545, 15 Dec 2011 high and 0.9593, 13 Jan 2012 peak.

    Res: 0.9468, 0.9500, 0.9545, 0.9593
    Sup: 0.9429, 0.9400, 0.9360, 0.9330


  4. #364
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Extends the near-term recovery above initial barriers at 1.2750 zone, after temporary footstep was found at 1.2640, last Friday. Bounce from here briefly broke above 1.2800 barrier, also Fib 23.6%, where descending trendline, connecting 1.3282/1.3177 tops, limited gains at 1.2811, with corrective easing on overbought hourly studies under way. Dips need to be contained at 1.2760/40 zone, to maintain positive near-term tone for possible fresh attack at upper barriers. Lift above 1.2800, to face significant resistances at 1.2886, Fib 38.2% and 1.2900 zone, clearance of which to confirm near-term base and open way for stronger retracement of 1.3282/1.2641 downleg, with 1.2950/80 seen next. On the downside, loss f 1.2740 and psychological support at 1.2700, would turn focus lowercase larger timeframes outlook remains negative.

    Res: 1.2800, 1.2811, 1.2868, 1.2886
    Sup: 1.2757, 1.2748, 1.2736, 1.2713





    GBP/USD
    Undergoes near-term corrective action, after finding ground at 1.5731, fresh 2-month low, posted last Friday. Bounce above 1.5800 has so far been capped by daily 200 day MA, daily Ichimoku cloud base and hourly 55 day EMA at 1.5830 zone. With hourly indicators starting to point lower and 4H chart ones still in the negative territory, there is not much to expect from the current rally, However, sustained break above 200 day MA, with regain of 1.5877, Fib 38.2% of 1.6112/1.5731 downleg and 1.5900, psychological barrier, would bring more optimism in the near-term outlook. On the downside, loss of 1.5731 and 1.5700 support would risk further extension of broader downtrend from 1.6300 and expose 1.5640, mid February lows and Fib 61.8% of 1.5233/1.6300 ascend.

    Res: 1.5841, 1.5877, 1.5889, 1.5900
    Sup: 1.5800, 1.5780, 1.5731, 1.5700




    USD/JPY
    Last week’s steep decline through strong psychological support at 80.00 and previous low at 79.42, so far tested our next target at 79.00, also near Fib 61.8% of 76.00/84.17 upleg. Temporary support was found here and the pair is attempting to base for some stronger recovery action. However, studies on both, lower and larger timeframes remain in the negative territory that increases risk of fresh weakness, with regain of initial resistance at 79.45 and more significant one at 80.00, required to improve near-term structure and open way for possible stronger correction. Otherwise, retest of 79.00 and extension towards our next downside target at 78.30 zone, would be the likely short-term scenario.

    Res: 79.45, 79.60, 79.77, 80.00
    Sup: 79.10, 79.00, 78.50, 78.30





    USD/CHF
    The pair trades in a near-term corrective mode, after testing our upside target at 0.9500, where gains were limited for now. Dips need to be contained above 0.9324, Fib 38.2% of 0.9041/0.9500 ascend and more significant 0.9300 support, to keep short-term bullish structure off 0.9041 intact, for possible extension above 0.9500 and test of our next targets at 0.9545 and yearly high at 0.9593. Only loss of 0.9300 would weaken the near-term structure and allow for stronger reversal.

    Res: 0.9420, 0.9444, 0.9480, 0.9500
    Sup: 0.9373, 0.9330, 0.9324, 0.9300


  5. #365
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Maintains near-term positive tone off last Friday’s low at 1.2641, as yesterday’s dip was contained above important 1.2700 level. Fresh gains above 1.2800 and previous high at 1.2811, see potential for further retracement and test of strong resistance zone at 1.2900/15, with break above initial dynamic barrier of 55 day EMA at 1.2830 required. However, overall bearish tone still keeps the downside vulnerable. Immediate supports lie at 1.2780, overnight’s low and 1.2770, trendline support, while loss of 1.2724, yesterday’s low, would weaken the near-term structure.

    Res: 1.2780, 1.2800, 1.2811, 1.2868
    Sup: 1.2781, 1.2750, 1.2724, 1.2700





    GBP/USD
    The near-term price action moves in a sideways mode, trading within narrow 1.5780/1.5840 range, with no much prospect seen for stronger recovery. Hourly studies are neutral, while 4H chart indicators pointing higher, but still in the negative territory. Daily studies hold bearish tone, as the pair remains limited at 200 day MA and Ichimoku cloud base. Break below initial support at 1.5780 to signal fresh weakness and possible return to 1.5731, ahead of more significant 1.5700 support. On the upside, only regain of 1.5900 and 1.5950, Fib 38.2% of 1.6300.1.5731, would improve current picture.

    Res: 1.5840, 1.5865, 1.5889, 1.5900
    Sup: 1.5800, 1.5780, 1.5731, 1.5700




    USD/JPY
    The pair is attempting above past two days consolidation range that followed last week’s sharp slide to 79.00. Trendline resistance at 79.80 comes as first barrier, with regain of strong resistance at 80.00, also Fib 61.8% of 80.54/79.00 downleg, required to confirm near-term base. Hourly studies remain supportive, however, negative structure on a daily chart keeps the downside pressure and unless key barrier at 80.60 is cleared, current action would be seen as corrective and preceding fresh weakness. Strong support lies at 79.00, ahead of 200 day MA at 78.50.

    Res: 79.60, 79.80, 80.00, 80.54
    Sup: 79.23, 79.00, 78.50, 78.30




    USD/CHF
    Extends the near-term corrective pullback off 0.9500, last Friday’s peak that was triggered by overbought short-term studies. The pair has so far reached 0.9360 zone, where 55 day EMA offers support, however, weak hourly studies see potential for further easing and test of important supports at 0.9324, Fib 38.2% of 0.9041/0.9500 and psychological 0.9300 level. As larger picture keeps bulls still in play, reversal at/above 0.9300 would be ideal for resumption of short-term uptrend, with clearance of 0.9500 to open 0.9545 and yearly peak at 0.9593. Loss of 0.9300 would delay.

    Res: 0.9394, 0.9420, 0.9444, 0.9480
    Sup: 0.9366, 0.9330, 0.9324, 0.9300


  6. #366
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The pair comes under increased pressure after recovery attempt stalled just above 1.2800 and renewed risk-off sentiment pushed the price lower to fully retrace recent 1.2641/1.2823 corrective leg. Negative studies keep our short-term target at 1.2622 in focus, with consolidative/corrective action above 1.2641, seen on overextended hourly studies. Immediate resistance lies at 1.2680/1.2900 zone, while only lift above 1.2730/50 would provide near-term relief.

    Res: 1.2780, 1.2800, 1.2811, 1.2823
    Sup: 1.2657, 1.2641, 1.2622, 1.2622





    GBP/USD
    Cable flirts with recent low at 1.5731, as mild corrective attempt didn’t show much of action and gains being capped at 1.5840. Reversal to the lows, along with negative short and longer-term studies and yesterday’s close below 200 day MA, sees risk of further extension of short-term downtrend from 1.6300, with 1.5700, psychological support, seen next, ahead of strong one at 1.5640, mid-Feb range lows / Fib 61.8%. Initial resistances lie at 1.5800 and 1.5840, ahead of 1.5900, 55 day EMA.

    Res: 1.5800, 1.5821, 1.5847, 1.5865
    Sup: 1.5740, 1.5731, 1.5700, 1.5640




    USD/JPY

    Strong rally through important barrier at 80.00, failed to sustain gains, as corrective action stalled at 80.13, just ahead of 90 day MA, with subsequent sharp reversal, reducing chances of fresh recovery. Near-term support was found at 79.44, previous strong resistance and Fib 61.8% of 79.00/80.13 upleg, with loss of momentum on hourly studies, increasing risk of revisiting 79.00 zone. Only regain of 80.00 zone would revive bulls.

    Res: 79.64, 79.85, 80.00, 80.54
    Sup: 79.44, 79.23, 79.00, 78.50




    USD/CHF
    Renewed strength off last Monday’s 0.9366 higher low, regained 0.9500 barrier and kept overall bullish sentiment intact for fresh gains towards 0.9545 and key short-term barrier at 0.9593, 2012 high. Corrective action on overbought hourly conditions, holds above Fib 23.6% at 0.9465 for now, with potential further easing expected to find ground above 0.9450/40 zone. Only loss of 0.9416/00 would sideline short-term bulls.

    Res: 0.9485, 0.9500, 0.9545, 0.9593
    Sup: 0.9465, 0.9450, 0.9440, 0.9412


  7. #367
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The single currency bounces vs the dollar at the beginning of the week, with gap-higher opening backed by positive news from Eurozone. Initial barriers at 1.2600/20 are now coming under pressure. On the downside, 1.2500 offers solid support for now, despite last Friday’s brief break that posted fresh low at 1.2496. Larger picture, however, shows bears fully in play, though indicators at their extreme points, with bounces higher seen as corrective, as long as 1.2800 zone, previous high of 21 May and Fib 38.2% of 1.3282/1.2496 limits the upside. Positive tone on hourly chart sees potential for further corrective action, once 1.2620 is cleared, with 1.2670, 50% and 1.2700, figure resistance / Fib 61.8%, seen next.

    Res: 1.2620, 1.2633, 1.2670, 1.2685
    Sup: 1.2584, 1.2558, 1.2515, 1.2500




    GBP/USD
    The pair moves in a near-term corrective mode, after broad slide from 1.6300, yearly high, found temporary support at 1.5630, near Fib 61.8% of 1.5233/1.6300 ascend. Overextended studies on a daily chart see potential for stronger corrective action, however, no firm signal seen yet. Positive tone on hourly chart, from the other side, supports current action higher, with overnight’s gap-higher opening, attempting at first significant barrier at 1.5700/25 zone, Fib 38.2% / 24 May high. To confirm recovery, regain of minimum 1.5800, 200 day MA, is required.

    Res: 1.5716, 1.5725, 1.5737, 1.5763
    Sup: 1.5675, 1.5662, 1.5646, 1.5629




    USD/JPY
    Recovery attempt off 79.00 is losing ground after gains were capped at 80.00 zone, daily Ichimoku cloud base. Subsequent easing below bull trendline connecting 79.00/20 lows, with weakening near-term studies, sees risk of revisiting our key short-term support at 79.00, break of which to open way for fresh extension of broader downtrend from 84.17, annual high and expose 78.50, 200 day MA, next. Initial resistances lie at 79.7080, where 55 day EMA caps, while only firm break above 80.00, previous high / Fib 38.2%, would bring short-term bulls back in play for possible attack at the next significant barrier at 80.60.

    Res: 79.50, 79.70, 79.81, 80.00
    Sup: 79.20, 79.00, 78.50, 78.30





    USD/CHF
    Remains in a near-term corrective mode, after 0.9600 zone limited recent strong gains. Initial support at 0.9540 now comes under pressure, below which to open 0.9500. Only extension below 0.9465, last week’s higher platform and Fib 61.8% of 0.9366/0.9609 ascend, would signal a pause in short-term uptrend in favor of stronger corrective action, with 0.9400 and 0.9366 to come in focus. On the upside, filling today’s gap will bring bulls fully in play for fresh extension towards 0.9700 zone, our next target.

    Res: 0.9570, 0.9590, 0.9609, 0.9650
    Sup: 0.9513, 0.9500, 0.9465, 0.9443


  8. #368
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Near-term sentiment turned negative, as the pair lost ground again after brief correction and basing attempt failed. Upside rejection above 1.2600 and subsequent reversal that resulted in loss of near-term footstep at 1.2500, opened way for extension of broader downtrend, with 1.2439 low seen so far. As more negative news come from the Eurozone, the outlook for the single currency remains bleak, with short-term focus turning towards 1.2150, June 2010 low and retest of 1.2000, not ruled out in the coming weeks. Previous base at 1.2500, now offers initial resistance, while any stronger corrective action requires break above 1.2600 zone.

    Res: 1.2480, 1.2500, 1.2515, 1.2550
    Sup: 1.2439, 1.2400, 1.2380, 1.2350




    GBP/USD

    Cable dipped below temporary support zone at 1.5640, approaching next significant support at 1.5600, 12 Mar low and the last strong hurdle on the way towards 1.5233, 13 Jan yearly low. As bearish tone continues to drive the price lower, possible bounce higher would occur on oversold near-term studies. Previous lows at 1.5630/40 zone offer initial barriers, while any stronger gains are seen limited at 1.5700/50 zone for now.

    Res: 1.5600, 1.5630, 1.5640, 1.5654
    Sup: 1.5561, 1.5550, 1.5530, 1.5500




    USD/JPY
    The pair breaks below near-term triangle support at 79.40, as corrective action off 79.00 stalled at psychological 80.00 barrier and subsequent weakness, followed by narrow consolidation, lost momentum. Immediate focus comes at 79.20, ahead of strong 79.00 support, loss of which to signal an extension of broader downtrend from yearly high at 84.17 and expose 78.60 200 day MA, next. Near-term studies are turning negative after brief neutral-mode movements. On the upside, recent range top at 79.60, offers initial resistance, ahead of more significant 80.00 zone. Only break here would ease bear pressure.

    Res: 79.60, 79.70, 79.81, 80.00
    Sup: 79.28, 79.20, 79.00, 78.50





    USD/CHF
    Continues to travel north after brief consolidation followed two unsuccessful attempts through 0.9600 barrier, with footstep found above initial support at 0.9530. Clearance of 0.9600 opens way towards our next upside target at 0.9700, figure resistance / 150 day MA. Positive near-term studies remain supportive, however, caution required as MACD bullish divergence appearing on 4H chart and daily studies at extreme levels. Immediate support lies at 0.9600, ahead of 0.9556 and 0.9527 that are expected to keep the downside protected for now.

    Res: 0.9653, 0.9700, 0.9743, 0.9773
    Sup: 0.9622, 0.9600, 0.9556, 0.9527


  9. #369
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The Euro continues to travel south, as concerns about Eurozone crisis rise. Negative sentiment drives the pair lower, with 1.2000 zone coming in focus. Loss of near-term base at 1.2500 has triggered fresh weakness, with yesterday’s break below the next round figure support at 1.2400, extending losses to 1.2356, fresh 2-year low so far, en-route to 1.2150, low of June 2010, our next target. Any corrective action would be triggered by overextended studies, with strong barriers at 1.2500 and 1.2600 zone, expected to cap for now, with interim minor resistances at 1.2400 and 1.2460/80.

    Res: 1.2400, 1.2422, 1.2460, 1.2480
    Sup: 1.2356, 1.2350, 1.2300, 1.2250





    GBP/USD
    The pair accelerated losses after break below 1.5640/00, the last significant hurdle on its way down, towards 1.5233, 2012 low, posted on 13 Jan. Minor supports at 1.5530/00 have been also cleared, as negative sentiment increases. With near-term studies deeply in the negative territory, some corrective action may be seen, preceding fresh weakness. Previous supports at 1.5500/30, now offer initial barrier, while any stronger bounce should find strong resistance at 1.5600/40 zone.

    Res: 1.5500, 1.5530, 1.5600, 1.5640
    Sup: 1.5461, 1.5400, 1.5350, 1.5300




    USD/JPY
    The pair has lost ground after near-term recovery attempt failure and returned to a broader downtrend, after breaking below main bear-trendline off 84.08 and key near-term support at 79.00. Fresh weakness is approaching our next downside barrier at 78.60, 200 day MA, below which to focus 78.30, Feb’s range top and 78.00, round figure support. With hourly indicators at extreme points, corrective movements are seen in the near-term. Previous support and today’s high at 79.00/12, now act as initial resistance, while only regain of 79.40/60 zone would provide relief.

    Res: 79.00, 79.12, 79.20, 79.60
    Sup: 78.70, 78.60, 78.30, 78.00






    USD/CHF
    The near-term rally accelerated on a break above strong barrier at 0.9600 and extended through 0.9700, weekly 150 day MA, posting fresh high at 0.9718, during the Asian session. Bulls remain firmly in play, with corrective pullback on overbought near-term studies, under way. Immediate support lies at 0.9675, ahead of minor ones at 0.9640/20 zone and key near-term support at 0.9600, also near Fib 38.2% of 0.9366/0.9718 rally and should contain any stronger reversal. On the upside, return to the levels above 0.9700 to focus 0.9743/73, ahead of 0.9800, figure resistance.

    Res: 0.9700, 0.9718, 0.9743, 0.9773
    Sup: 0.9675, 0.9636, 0.9622, 0.9600


  10. #370
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Moves in a third wave from last Friday’s low at 1.2287, after yesterday’s strong reversal from day’s high at 1.2541, found support at 1.2410, 50% retracement of 1.2287/1.2541 upleg. Fresh strength regained 1.2500 handle and briefly broke above main bear trendline, drawn off 1.3282 peak, increasing possibilities for stronger gains, as hourly indicators moved into positive territory. Clearance of 1.2541 barrier and close above here, will confirm near-term bullish structure for fresh extension towards 1.2600 and breakpoint zone at 1.2623/41. Broken bear trendline, along with yesterday’s intraday high at 1.2470, offers initial support, while key near-term support lies at 1.2400 zone and break here would be bearish.

    Res: 1.2500, 1.2515, 1.2541, 1.2572
    Sup: 1.2470, 1.2440, 1.2410, 1.2400





    GBP/USD
    Break above near-term range top, last Friday’s spike high and Fib 38.2% of 1.5715/1.5267 descend at 1.5437, now signals fresh strength ahead. As hourly studies regained momentum, potential is seen for test of significant barriers at 1.5500/25 clearance of which to allow for stronger recovery and possibly expose 1.5600, previous strong support, now reverted to resistance. Yesterday’s higher low at 1.5320, along with 1.5300, round figure support and long-term bull trendline off 1.3500, 2009 low, offer key near-term support, with break here to bring bears back in play for test of 1.5267/33.

    Res: 1.5460, 1.5500, 1.5525, 1.5544
    Sup: 1.5414, 1.5400, 1.5374, 1.5340





    USD/JPY
    Maintains positive tone off last Friday’s low at 77.65, as the near-term price action breaks above 200 day MA at 78.65 and main bear trendline at 78.70. Fresh strength approaches the next strong barrier at 79.00, retracing so far over 50% of 80.13/77.65 downleg, with break here to signal stronger correction of broader downtrend from 84.17, yearly high. Toppish hourly studies may delay fresh strength, with previous resistance at 78.60 zone, now offering support and required to contain dips. However, only loss of 78.00, would be a signal that bears are back in play.


    Res: 78.64, 78.80, 79.00, 79.12
    Sup: 78.30, 78.20, 78.00, 77.75





    USD/CHF
    The pair extended its near-term corrective pullback through 0.9637/00 support zone, to dip to 0.9575 so far, where a temporary footstep was found. Bounce from here was short-lived, as gains were capped on approach to 0.9700, our next barrier and subsequent slide below 0.9600, now increase risk of further easing. Loss of 0.9575 to open 0.9500, next strong support, for test, ahead of possible further easing towards 0.9400 and strong support at 0.9366, 21 May higher low.

    Res: 0.9623, 0.9664, 0.9700, 0.9769
    Sup: 0.9575, 0.9557, 0.9520, 0.9500


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