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Thread: Short Term Technical Analysis for Majors by WindsorBrokers

  1. #371
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (13:00 GMT)

    EUR/USD
    The near-term positive sentiment brought the pair to our initial target and first barrier at 1.2600. Brief easing, seen today, found footstep at strong support at 1.2540, keeping bulls firmly in play. Lift above 1.2600, also daily 20 day MA, opens way towards the next strong barrier and breakpoint at 1.2620/40 zone, Fib 61.8% / 28 May high / previous yearly and 25 May low, break of which to signal stronger correction. Initial support lies at 1.2540, today’s low / main bull trendline, ahead of 1.2500.

    Res: 1.2623, 1.2641, 1.2686, 1.2700
    Sup: 1.2584, 1.2541, 1.2526, 1.2500





    GBP/USD
    Cable rallied sharply today, propped by BOE’s decision to keep rate and QE target unchanged. Rally from today’s low at 1.5428, accelerated pace after break above 1.5500/14, clearing 1.5544, Fib 61.8%, to come few ticks ahead of the next barrier at 1.5600. Strong bullish momentum sees potential for further gains, with clearance of 1.5600 to expose 1.5640, mid Feb lows and 1.5662, Fib 38.2% of 1.6300/1.5267 downleg. As hourly studies approach overbought zone, corrective action is not ruled out., Previous resistances at 1.5525/00 zone, now offer initial support, with 1.5470/50 zone expected to contain any stronger reversal.

    Res: 1.5600, 1.5630, 1.5640, 1.5662
    Sup: 1.5550, 1.5525, 1.5500, 1.5470





    USD/JPY
    The pair jumped after breaking above today’s previous high at 79.50, to approach our target and nest resistances at 80.00/13 zone, figure resistance / Fib 38.2% of 84.14/77.65 descend. Positive sentiment, established last Friday, nearly fully retraced recent 80.13/77.65 downleg, as gains accelerated after clearance of 78.65, 200 day MA / main bear trendline at former base at 79.00. Break above 80.13 to signal further correction towards 80.60, former double-top of 02/15 May. Corrective dips should ideally be contained at/above 79.00.

    Res: 79.81, 80.00, 80.13, 80.60
    Sup: 79.50, 79.20, 79.00, 78.60





    USD/CHF
    Continues to travel south, after yesterday’s break below significant support at 0.9675, extended near-term corrective pullback to 0.9520, Fib 61.8% of 0.9366/0.9769 upleg. As negative sentiment continues to drive the pair lower, test of the next support at 0.9500 is likely, with break here to open way for further retracement towards 0.9465/35. Near-term studies remain in the negative territory, with 20/55 day EMA’s crossover, maintaining negative tone and keeping the upside protected.

    Res: 0.9575, 0.9600, 0.9650, 0.9675
    Sup: 0.9500, 0.9465, 0.9436, 0.9400


  2. #372
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The negative sentiment has come back in play, as initial optimism from Spanish bailout and yesterday’s jump higher, were short-lived. Filling yesterday’s gap has resulted in further weakness that nearly fully retraced initial rally from 1.2434 to 1.2667. As overnight’s bounce was capped at 1.2500 barrier, also 20 day EMA, with weak hourly studies, near-term outlook remains negative. Break below 1.2440 zone, also Fib 61.8% of 1.2287.1.2667 upleg and 1.2400, 05 June low / figure support, to possibly signal an end of short-term corrective action. Only regain of 1.2550/66, upper Bollinger / yesterday’s intraday high, would ease bear pressure.

    Res: 1.2506, 1.2550, 1.2566, 1.2600
    Sup: 1.2449, 1.2440, 1.2434, 1.2409





    GBP/USD
    Near-term price action shows the pair at the back foot, following the upside rejection at 1.5600, however, positive short-term structure off 1.5267, 01 June low, remain intact for now. Bull trend line, connecting 1.5267 and 1.5400, now offers good support and holding above here, would keep hopes of fresh strength alive. Upside break above 1.5600, key near-term barrier, is required to trigger stronger corrective action and open 1.5640 and 1.5700 next. On the downside, break below trendline and 1.5400, 08 June higher low, would risk test of very strong support at 1.5320, 05 June low / long-term bull trendline off 2009 low and 1.5300, figure support.

    Res: 1.5581, 1.5600, 1.5640, 1.5700
    Sup: 1.5523, 1.5500, 1.5474, 1.5450





    USD/JPY
    The pair holds short-term positive tone off 77.65, 01 June low, as near-term consolidative/corrective action has so far been contained above important 79.00 support / bull trendline off 77.65 and 55 day EMA at 79.10 zone. Fresh strength is under way, looking for test of initial barrier at 79.78, last week’s high, ahead of more significant 80.00/13, figure resistance / 22 May high / Fib 38.2% of 84.17/77.65 descend. As daily 55 day MA crossed below 90 day MA at 80.40, this would be limiting the upside, in case of lift above 80.00/13 barrier. On the downside, key supports lie at 79.00 at 78.68, 200 day MA, loss of which would be bearish.

    Res: 79.71, 79.81, 80.00, 80.13
    Sup: 79.43, 79.16, 79.10, 79.00





    USD/CHF
    Yesterday’s strong rally off 0.9477, where the pair dipped after gap-lower Monday’s opening, has nearly fully retraced Friday/Monday 0.9656/0.9477 slide, but failed to regain 0.9656 on a first attempt. While the downside remains protected at 0.9560/40 zone, hopes of fresh attempt higher exist, with clearance of initial barrier at 0.9644 and more significant 0.9656/75, required to signal bottom at 0.9477 and turn near-term focus higher. Otherwise, further retracement of 0.9366/0.9769 upleg would be likely short-term scenario.

    Res: 0.9620, 0.9644, 0.9656, 0.9675
    Sup: 0.9589, 0.9561, 0.9550, 0.9541


  3. #373
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Remains in a range established yesterday, after fall from 1.2667 peak found support at 1.2450 zone. Sideways movements in past 24-hours were limited at 1.2530, Fib 38.2% of 1.2287/1.2667 upleg and descending 55 day EMA. Hourly studies hold neutral tone, while 4-hour chart indicators are in the negative territory. Unless initial barrier at 1.2530, as well as 1.2560, 50% retracement is breached, downside will remain vulnerable, while regain of Fib 61.8% at 1.2584 and 1.2600 handle will re-focus 1.2667. Key supports lie at 1.2440 and 1.2400, below which, bears will be taking control for fresh leg lower and possible retest of 1.2300/1.2287.

    Res: 1.2515, 1.2528, 1.2550, 1.2566
    Sup: 1.2472, 1.2441, 1.2434, 1.2409





    GBP/USD
    Maintains short-term positive tone off 1.5267 low, after finding ground at 1.5450, trendline support. Yesterday’s fresh strength and brief break above bear-trendline off 1.5600 and previous high at 1.5581, comes closer to our near-term target and key barrier at 1.5600, break of which to open fresh bull-leg, as part of short-term corrective bounce from 1.5267, 01 June low. Near-term studies in the positive territory, remain supportive, with break above 1.5600 to open 1.5640/50 zone next. Any pullbacks should be contained at 1.5500/1.5480, 20 day EMA / bull trendline.

    Res: 1.5562, 1.5581, 1.5589, 1.5600
    Sup: 1.5500, 1.5476, 1.5450, 1.5404





    USD/JPY
    Near-term price action remains congested under 80.00 barrier, as several attempt here failed. However, downside stays protected above 79.00 support, with ascending 55 day EMA holding dips, along with bull trendline off 77.65 low. Clearance of range top at 79.80 zone and 80.00/13, figure resistance / Fib 38.2% of 84.17/77.65 descend, is required to resume short-term recovery and open 80.50/60 next. Minor support lies at 79.35, while only loss of 79.00 and 200 day MA at 78.68, would bring bears back in play.

    Res: 79.38, 79.81, 80.00, 80.13
    Sup: 79.35, 79.16, 79.10, 79.00





    USD/CHF
    Consolidates recent strong rally off 0.9477, Monday’s low, after gains reached level just under our initial targets at 0.9656/75. As near-term consolidation range remains supported by ascending 55 day EMA at 0.9580 zone and near-term studies holding positive tone, possibilities of fresh extension higher are likely. Clearance of 0.9656/75 to open 0.9700 and possibly re-focus 0.9769, 01 June peak. On the downside, loss of near-term range floor and Fib 38.2% of .9477/0.9649 upleg at 0.9580, would delay, while break below 0.9550 will sideline near-term bulls.

    Res: 0.9626, 0.9649, 0.9656, 0.9675
    Sup: 0.9594, 0.9583, 0.9546, 0.9512


  4. #374
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    Default Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Remains in a near-term range that was interrupted by brief break to 1.2667 on Monday. Hourly structure is still positive, with 20 day EMA holding the downside during the overnight session, however, yesterday’s upside rejection at 1.2609 and this morning’s failure at 1.2587, see risk of retesting strong support zone at 1.2550/40, where also Fib 38.2% of 1.2455/1.2609 upleg and near-term bull trendline off 1.2455, 12 June low lie. Break here would weaken the near-term structure and allow for further slide towards Fibonacci supports at 1.2525 and 1.2505, with loss of the latter seen bearish. Studies on the daily chart have regained some momentum, however, yesterday’s gains were capped by descending trendline, connecting 1.3282 and 1.2667 peaks that may be a signal for fresh weakness ahead. Break above week’s high and Fib 38.2% of 1.3282/1.2287 descend at 1.2667 is required to confirm short-term bulls and trigger stronger recovery.

    Res: 1.2587, 1.2600, 1.2609, 1.2667
    Sup: 1.2550, 1.2540, 1.2525, 1.2500





    GBP/USD
    Came under pressure after renewed attempt higher stalled at strong barrier at 1.5600, where descending daily 20 day MA capped gains.. The third wave off yesterday’s peak at 1.5597, broke below bull trendline at 1.5500 that sparked fresh sell-off, with test of Fib 38.2% at 1.3470 seen so far. As hourly studies broke into negative territory, further weakness is likely, with next barriers at 1.5452, 12 June low and more significant 1.5400, 08 June low, loss of which to confirm top at 1.5600 and open 1.5320/00 next. On the upside, today’s high at 1.5530, offers initial resistance, together with 20 day EMA, while only lift above bear-trendline, connecting 1.5600 and 1.5581 peaks, would turn focus higher.

    Res: 1.5500, 1.5530, 1.5566, 1.5581
    Sup: 1.5470, 1.5450, 1.5432, 1.5400





    USD/JPY
    The dollar came under pressure again on negative fundamentals, keeping the upside target at 80.00 intact for now. However, Short term positive tone still exists, as long as higher base at 79.10 zone holds, with initial support at 79.30, 55 day EMA. Negative tone that dominates on hourly chart and descending 4H chart studies attempting at their midlines, see risk of further easing. Key supports lie at 79.00 and 78.70, 200 day MA, below which, larger picture’s bears off 84.17, yearly high, will take control. Overnight’s high at 79.47 offers initial resistance, ahead of recent range ceiling at 79.80 zone that capped the past few day price action.

    Res: 79.50, 79.81, 80.00, 80.13
    Sup: 79.30, 79.16, 79.10, 79.00





    USD/CHF
    Maintains negative near-term tone, as reversal from 0.9650, 12 June high, broke below Fibonacci 61.8% support at 0.9543, to hit 0.9520 so far. Brief corrective action was so far capped by 20 day EMA on hourly chart, with indicators holding below their midlines and keeping the downside vulnerable. Break below 0.9520/00 breakpoint will be a trigger for further extension of short-term reversal from 0.9769 peak, with 0.9400 and 0.9366 expected to come in short-term focus. Loss of bullish momentum on a daily chart, sees potential for further retracement of 0.9041/0.9761 upleg.

    Res: 0.9567, 0.9593, 0.9600, 0.9626
    Sup: 0.9543, 0.9527, 0.9512, 0.9500


  5. #375
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The risk appetite is back after Greek election’s results provided relief and the Euro extended its past four days gains against the dollar. Last Friday’s break above descending trendline off 1.2823 and close just under week’s high at 1.2667, overnight’s gap higher opening that regained levels above 1.2700 handle, keeps the near-term outlook positive. Immediate focus lies at 1.2800/23 zone, however, corrective easing on extended hourly conditions, is not ruled out. Initial support at 1.2667 has been briefly touched, with possible extension towards 1.2630, 55 day EMA / Fib 38.2% of 1.2441/1.2745 and 1.2600, where dips should be contained, to keep short-term bulls intact.

    Res: 1.2700, 1.2714, 1.2745, 1.2800
    Sup: 1.2667, 1.2645, 1.2630, 1.2600





    GBP/USD
    Strong rally, seen last Friday, after the pair broke above strong barrier and near-term range top at 1.5600, extended gains through 1.5715, our next target, to hit 1.5740 so far, just ahead of 200 day MA at 1.5750. Corrective action on overbought near-term conditions is expected to precede fresh strength, with strong support at 1.5640, mid-February range floor, offering good support. Break above 1.5750 to expose 1.5800 and 1.5847, 22 May high, while only loss of 1.5600 handle would weaken short-term structure.

    Res: 1.5700, 1.5718, 1.5740, 1.5750
    Sup: 1.5650, 1.5640, 1.5600, 1.5581





    USD/JPY
    The pair bounced of dangerous zone, as 200 day MA at 78.50 keeps the downside protected for now. Regain of 79.00 handle, previous support, sees potential for further gains, as hourly studies turned positive, however, still weak tone on 4H chart studies, sees risk of fresh weakness unless strong barrier at 79.80 is regained. Break here to open way for further gains towards 80.00/13 and 80.60. On the downside, 78.50, offers strong support, ahead of 77.65, broken bear – trendline / 01 June low.

    Res: 79.29, 79.50, 79.80, 80.00
    Sup: 79.10, 78.80, 78.60, 78.50





    USD/CHF
    Extends the short-term weakness off 0.9769, 01 June high, after today’s gap-lower opening, broke below last week’s low at 0.9477, with dip seen to 0.9425 so far. As negative near-term tone keeps the downside in focus, the pair approaches 0.9400, our initial target, also 50% retracement of 0.9041/0.9769 ascend, ahead of very strong support at 0.9366, 21 May low. Corrective bounce on oversold hourly conditions, stays capped by previous support at 0.9477, for now, however further rally is not ruled out, with 0.9500 zone, also 55 day EMA, seen capping. Only lift above 0.9540/50 zone would provide near-term relief.

    Res: 0.9477, 0.9494, 0.9405, 0.9540
    Sup: 0.9439, 0.9420, 0.9400, 0.9366


  6. #376
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    Yesterday’s reversal from fresh high at 1.2745, hit day’s low at 1.2557, also Fib 61.8% of 1.2441/1.2745 upleg, where temporary support was found. Brief recovery hasn’t shown much, despite regain of 1.2600 handle, as near-term structure remains negative, following yesterday’s losses. Bounce from 1.2557 was capped by 55 day EMA at 1.2613, with fresh slide under 1.2600, keeping the downside in focus. Loss of strong supports at 1.2557, yesterday’s low and 1.2543, bull trendline connecting 1.2287 and 1.2441 lows, to trigger further weakness and open 1.2500 and 1.2440 higher platform. On the upside, only regain of strong barrier at 1.2665 would turn focus higher.

    Res: 1.2600, 1.2613, 1.2645, 1.2665
    Sup: 1.2557, 1.2541, 1.2534, 1.2500





    GBP/USD
    Bounce from 1.5629, yesterday’s low, where a corrective pullback off 1.5740 high, found support, remains under initial barrier at 1.5700, with more sideways movement seen in late Asia / early Europe trading. Near-term focus remains at the upside, as studies keep positive tone, however, break above 1.5700 is required for fresh attempt towards strong resistance zone at 1.5740/50, yesterday’s high / 200 day MA. Fibonacci level at 1.5660 offers initial support, ahead of yesterday’s low at 1.5629, while break below 1.5600 would weaken the near-term structure.

    Res: 1.5700, 1.5718, 1.5740, 1.5750
    Sup: 1.5660, 1.5630, 1.5600, 1.5576





    USD/JPY
    Narrows the near-term range, following yesterday’s upside rejection at 79.40, with 78.80 zone still holding the downside protected from retest of key near-term support at 78.60. As hourly indicators are entering negative territory and price action unable to break above 79.00, more weakness is seen likely. Loss of 78.60 would confirm bears are back in play, while bounce above 79.40 would provide near-term relief. Key upside barriers lie at 79.80 and 80.00.

    Res: 79.13, 79.40, 79.50, 79.80
    Sup: 78.92, 78.80, 78.60, 78.50





    USD/CHF
    Maintains near-term positive tone, after strong rally from yesterday’s low at 0.9420 broke above 0.9500/36 barriers, to peak at 0.9562, Fib 61.8% of 0.9649/0.9420 downleg. Brief easing on overbought near-term conditions, found support at 55 day EMA at 0.9517. As hourly studies started to point higher, potential is seen for test of 0.9562/72 barriers, break of which to open way for further retracement and expose figure resistance at 0.9600, ahead of very significant barriers at 0.9656/75. On the downside, loss of 0.9500 would turn near-term focus lower.

    Res: 0.9562, 0.9572, 0.9600, 0.9626
    Sup: 0.9517, 0.9500, 0.9481, 0.9439


  7. #377
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The Euro remains well supported, as strong rally from yesterday approaches initial barrier and 18 Jun high at 1.2745, with 1.2729 seen so far. Dominating positive tone on near-term studies, keeps bulls in play, with 1.2745 and 1.2800 levels in focus. Overnights correction low at 1.2661, offer initial support, along with 20 day EMA, while key near-term support, reinforced by bull trendline off 1.2287, lies at 1.2557 and break here to signal a double-top formation.

    Res: 1.2700, 1.2729, 1.2745, 1.2800
    Sup: 1.2661, 1.2643, 1.2623, 1.2600




    GBP/USD
    Continues to trend higher, with break above previous high at 1.5740, cracking 200 day MA at 1.5750 and signaling further recovery. As larger timeframes studies show strong momentum building up and hourlies maintaining positive tone, break above 1.5750 is expected to look for test of next barriers at 1.5800 and 1.5850, 22 May high. Figure support at 1.5700 with 20 day EMA, offers initial support, while only loss of 1.5600, previous resistance and trendline support, will be bearish.

    Res: 1.5756, 1.5800, 1.5820, 1.5847
    Sup: 1.5700, 1.5630, 1.5614, 1.5600





    USD/JPY
    The pair remains under pressure, as bear-trendline off 79.73 continues to limit the upside, with overnight’s dip below 79.00 and 78.85, near-term range floor, increasing risk of retesting key near-term support and 200 day MA at 78.60. Break here would be a signal of further weakness, with 77.65, previous low and broken bear-trendline off 84.08, to come in focus. On the upside, minor barriers lie at 79.00/13, while only regain of 79.40 would improve the near-term tone.

    Res: 79.00, 79.13, 79.40, 79.50
    Sup: 78.85, 78.85, 78.60, 78.50





    USD/CHF
    Came under pressure again, as near-term recovery attempt off 0.9420, failed at Fib 61.8% of 0.9649/0.9420 downleg at 0.9562, with fresh weakness nearly fully retracing the 0.9420 to 0.9562 rally. Losses reached 0.9431 low so far. Corrective action on oversold hourly studies turn remains limited under 0.9500, keeping the downside in focus. Break below 0.9420 to open 0.9400 and 0.9366.

    Res: 0.9483, 0.9500, 0.9521, 0.9553
    Sup: 0.9459, 0.9431, 0.9420, 0.9400


  8. #378
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    No significant action seen post FOMC, as the price remains capped under key near-term barrier at 1.2745, but downside seen more vulnerable. Loss of bullish momentum that cracked initial support at 1.2665 sees risk of break below near-term range and fresh weakness ahead, with important supports at 1.2600, where 55 day EMA lies and more significant, 1.2557, 18 June low, also near 38.2% of 1.2287/1.2745, to come in focus. Lift above 1.2745, however, will avert downside risk and open 1.2800/50 instead.

    Res: 1.2686, 1.2700, 1.2720, 1.2729
    Sup: 1.2655, 1.2636, 1.2627, 1.2600





    GBP/USD
    Easing from yesterday’s fresh high at 1.5776, after failure to clear 200 day MA, is so far seen as corrective, as long as trendline support at 1.5630 and near-term floor at 1.5615 stay intact. However, weakening hourly studies may be a signal that the pair is running out of steam. Break below 1.5615/00 to confirm and end of near-term 1.5600/1.5774 cycle and allow for stronger retracement of broader 1.5267/1.5771 rally. On the upside, 1.5720/40 zone now offers good resistance and break here would turn near-term focus higher.

    Res: 1.5700, 1.5720, 1.5740, 1.5756
    Sup: 1.5650, 1.5630, 1.5615, 1.5600





    USD/JPY
    Yesterday’s bounce off 78.80 lows, where 200 day MA again kept the downside protected, moved the near-term price action off dangerous zone and turned focus higher again. Strong rally that approached key barriers at 79.80 and 80.00 that kept the upside limited for a past couple of weeks sees risk of repeated failure. Clear break here to signal fresh recovery and confirm base at 77.65. Immediate supports at 79.40/20 zone, are expected to contain any pullback and keep immediate bulls in play.

    Res: 79.80, 80.00, 80.13, 80.60
    Sup: 79.56, 79.40, 79.20, 79.11





    USD/CHF
    The near-term focus remains skewed lower, despite slight recovery seen on a bounce from yesterday’s spike to 0.9423. However, some improvement, seen on hourly chart studies, keeps hopes of possible stronger recovery alive, with clear break above 0.9500 zone, also 61.8% of 0.9562/0.9423 descend, required to ease immediate downside risk. Regain of key near-term barrier at 0.9562, would provide relief and signal double bottom formation. On the downside, key supports lie at 0.9420 and 0.9400, loss of which will open way for fresh extension of broader downtrend from 0.9769, 01 June peak.

    Res: 0.9486, 0.9500, 0.9521, 0.9553
    Sup: 0.9465, 0.9440, 0.9420, 0.9400


  9. #379
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The negative sentiment continues to drive euro lower at the beginning of the week, as continuation of the strongest sell-off in past six months. After rather quiet movements overnight, the pair accelerates losses at the beginning of European session. Break below last week’s low at 1.2518, also 50% of 1.2287/1.2745 ascend and slide under 1.2500 handle, opens way towards Fib 61.8% support at 1.2462 and higher platform at 1.2440 zone. Strong barriers at 1.2580/1.2600 zone are expected to cap any corrective movements, while only firm break above 1.2600 would ease bear pressure.

    Res: 1.2547, 1.2543, 1.2580, 1.2600
    Sup: 1.2462, 1.2440, 1.2409, 1.2400





    GBP/USD
    Extends short-term weakness off 1.5776, 20 June high, as price broke below Fib 38.2% of 1.5267/1.5776 rally at 1.5581, last Friday. Brief consolidation above 1.5600 was limited by descending hourly 20 day EMA, with today’s fresh weakness threatening Friday’s low at 1.5555, loss of which to focus 1.5521, 50% retracement and figure support at 1.5500. As near-term conditions remain negative, further weakness would be expected. At the upside, last Friday’s peak at 1.5633, along with 55 day EMA, offers solid resistance and only lift above here to provide relief.

    Res: 1.5600, 1.5615, 1.5633, 1.5650
    Sup: 1.5555, 1.5521, 1.5500, 1.5461





    USD/JPY
    Undergoes corrective pullback after strong rally through 79.80/80.00 barriers, tested our next target at 80.60. As hourly studies are running out of steam, with loss of bullish momentum and formation of MACD bearish divergence, the threat of further retracement of the latest rally increases. Price action approaches 80.00 support, with break through 80.00/79.80, also 38.2% of 78.80/80.60 ascend, risks sidelining near-term bulls.

    Res: 80.21, 80.50, 80.60, 80.71
    Sup: 80.00, 79.90, 79.80, 79.50





    USD/CHF
    Attempts through 0.9590/0.9600 barriers, to mark the third leg of recovery rally from 0.9420, last week’s base and confirms near-term double-bottom formation. Positive near-term studies are supportive for further gains, with clear break above 0.9600 to expose 0.9636, Fib 61.8 and another strong barrier at 0.9660 zone, 08/12 June peaks. Ascending 20 day EMA underpins the advance at 0.9576, while only break below 0.9541, last Friday’s consolidation range floor, would delay bulls.

    Res: 0.9609, 0.9626, 0.9650, 0.9675
    Sup: 0.9590, 0.9576, 0.9541, 0.9500


  10. #380
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    Default Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

    EUR/USD
    The Euro continues to trend lower, ahead of EU summit, as negative sentiment, fuelled by comments of German Chancellor Merkel, Spanish auctions and Germany’s credit rating cut keep the price under pressure. As the pair touched strong support at 1.2440 yesterday, immediate focus turns towards 1.2400 and possible extension to annual low at 1.2287 in a short-term. Overnight’s brief consolidation was limited at 1.2500, by 55 day EMA, with negative near-term studies seeing not much prospect for further corrective action for now, with significant barriers above 1.2500, standing at 1.2530 and 1.2580.

    Res: 1.2507, 1.2529, 1.2550, 1.2580
    Sup: 1.2479, 1.2440, 1.2409, 1.2400





    GBP/USD
    The near-term outlook still sees the downside risk, as bounce off 1.5538, 25 June low, struggles at 1.5650 zone, with near-term price action in sideways mode. However, the near-term rally remains protected by rising trendline off 1.5538 at 1.5600 zone, where also 55 day EMA lies. Loss of this level would weaken the structure and re-focus the downside. Clearance of 1.5650 to open 1.5685/1.5700 next.
    Larger picture’s upside rejection at 1.5776, where 200 day MA capped the rally, however, will keep the short-term structure under pressure, as long as the latter caps the upside.

    Res: 1.5650, 1.5660, 1.5685, 1.5700
    Sup: 1.5620, 1.5600, 1.5575, 1.5562




    USD/JPY
    Reversal off 80.60 barrier that so far fell to 79.22, keeps the near-term price action under pressure, after loss of very strong supports at 80.00 and 79.80. Corrective/consolidative move off 79.36, remains limited under initial resistance at 79.80, with bearish short-term technicals, seeing risk of further decline and test of 79.00, figure support and 78.83, 200 day MA. Any stronger corrective action needs to clear minimum 80.00, to provide relief.

    Res: 79.60, 79.80, 80.00, 80.60
    Sup: 79.34, 79.22, 79.00, 78.83





    USD/CHF
    Moves sideways around 0.9600 handle, after rally from 0.9420 base briefly tested 0.9650 barrier yesterday. Near-term picture keeps positive tone and sees potential for further retracement of 0.9769/0.9420 descend, however, hourly MACD bearish divergence, increases risk of fresh weakness. Consolidation range floor at 0.9580, holds the downside for now, with break lower to expose strong support at 0.9540 zone, loss of which will be bearish. At the upside, lift above 0.9650 opens 0.9675 and 0.9700.

    Res: 0.9622, 0.9650, 0.9675, 0.9700
    Sup: 0.9600, 0.9580, 0.9550, 0.9541


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