Short Term Technical Analysis for Majors

[WindsorBrokers]

EUR/USD

Upswing off 1.3383, yesterday’s low, has probed above 1.3540, 50% retracement of 1.3815/1.3266 downleg to open 1.3570, key 23 Mar lower ceiling. Potential break here would attract 1.3605, 61.8% retracement, next. Loss of 1.3433/15 would resume the underlying bear trend.

Res: 1.3560, 1.3570, 1.3605, 1.3638
Sup: 1.3475, 1.3433, 1.3415, 1.3383




GBP/USD

Continues to trade within an hourly rising channel, to reach 1.5246, just ahead of 1.5256, 19 Mar high. Scope is now seen for further near term strength, with potential break through the latter to open way for the key 1.5380, 17 Mar peak. Upside rejection, however, risks a lower top for an eventual relapse lower back towards 1.4780 annual low.

Res: 1.5256, 1.5278, 1.5315, 1.5327
Sup: 1.5167, 1.5117, 1.5088, 1.5042




USD/JPY

Continues to trend higher, fueled by the longer-term bear channel break. Completion of bull flag completion and yesterday’s lower rejection at 92.75 now supports fresh gains towards initial 9375, yearly high, posted on 08 Jan. Break here opens 94.05/30 first.

Res: 93.75, 94.05, 94.30, 94.65
Sup: 93.05, 92.75, 92.45, 92.11




USD/CHF

Has broken out of a minor bearish coil which held below 1.0688/1.0703 hourly lower tops. Subsequent break below 1.0505, 17 Mar swing low, now reaffirms 3-legged 0.9916/1.0898 rise, with short-term risk at 1.0424/1.0368 next.

Res: 1.0565, 1.0585, 1.0649, 1.0688
Sup: 1.0485, 1.0775, 1.0447, 1.0424

[WindsorBrokers]

EUR/USD

Hourly structure continues to be negative with yesterday's break below 1.3390/83, 61.8% retracement of the 1.3266/1.3591 rise / 31 Mar low, warning of a full retrace of the move. Scope is now for a short-term swing higher, before leaving a lower top.

Res: 1.3438, 1.3459, 1.3496, 1.3537
Sup: 1.3355, 1.3344, 1.3305, 1.3266




GBP/USD

Continues to trade close to the 23.6% retracement of the 1.7041/1.4780 fall at 1.5315. Weekly structure continues to favor a shallow retrace and eventual relapse to retest 1.4780, the annual low.

Res: 1.5282, 1.5315, 1.5330, 1.5380
Sup: 1.5192, 1.5128, 1.5117, 1.5042




USD/JPY

Daily structure since the annual low at 88.13 hints at possible exhaustion of the current rise. Potential is seen for a pullback now towards the 200 day MA, currently at 91.46. Bulls remain in play while 93.55 holds, with potential break here to open 93.27 and 92.75. Only regain of 94.39 would suggest renewed strength.

Res: 94.39, 94.77, 95.02, 95.30
Sup: 93.55, 93.27, 93.05, 92.75




USD/CHF

Continues to head higher off recent lower rejection of 200-day MA, with scope set at 1.0779, break of which will trigger a larger daily bull flag with an initial target at 1.0899, annual high, posted on 19 Feb).

Res: 1.0720, 1.0749, 1.0795, 1.0810
Sup: 1.0643, 1.0585, 1.0553, 1.0487

[WindsorBrokers]

EUR/USD

Continues to trend lower, with risk seen for further drop to fully retrace the 1.3266/1.3591 upleg. Break below 1.3266, yearly low, would open 1.3190, 30 Apr 2009 low next, while 1.3409 expected to cap corrective attempts.

Res: 1.3377, 1.3409, 1.3438, 1.3459
Sup: 1.3266, 1.3245, 1.3213, 1.3190





GBP/USD

Failed again in attempt at 1.5282/1.5315 area, with fresh weakness now under way. 1.5147/28 zone offers strong support, and break there is required to resume a broader weakness towards 1.4797/80. Regain of 1.5315/80, however, would improve.

Res: 1.5250, 1.5282, 1.5315, 1.5380
Sup: 1.5147, 1.5128, 1.5117, 1.5042





USD/JPY

Current pullback is seen as corrective in structure with an hourly reversal pattern having been triggered. Scope is now for further weakness towards 92.75 and 91.45, 200 day moving average. Back over 94.03 defers.

Res: 93.55, 93.85, 94.03, 94.25
Sup: 93.05, 92.75, 92.45, 92.11




USD/CHF

Daily structure continues to be constructive with a bull-flag in place, following the recent break over 1.0749. Hourly structure also remains positive, with scope for a near-term rise towards 1.0809/27. Downside, 1.0677 offers initial support.

Res: 1.0795, 1.0809, 1.0827, 1.0898
Sup: 1.0712, 1.0677, 1.0643, 1.0585

[WindsorBrokers]

EUR/USD

Yesterday’s failure to break below 1.3266 yearly low, has triggered a corrective phase. A higher low is now sought in an hourly time frame for a fresh leg higher, with 1.3409/59 offering strong resistance. Break above the latter is required to sideline near-term bears in favor of stronger correction, while failure to break higher would risk fresh weakness and re-focus 1.3266.

Res: 1.3409, 1.3438, 1.3459, 1.3497
Sup: 1.3341, 1.3320, 1.3282, 1.3266




GBP/USD

Daily structure continues to seek for a shallow retrace, with a short-term rise back over 1.5380 not ruled out, before leaving a lower top. Latest clearance of 1.5315 now confirms this scenario.

Res: 1.5380, 1.5400, 1.5420, 1.5475
Sup: 1.5235, 1.5220, 1.5167, 1.5128




USD/JPY

Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

Res: 93.72, 93.85, 94.03, 94.25
Sup: 93.05, 92.82, 92.75, 92.45




USD/CHF

Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

Res: 1.0742, 1.0795, 1.0809, 1.0827
Sup: 1.0677, 1.0650, 1.0608, 1.0585

[WindsorBrokers]

EUR/USD

Undergoes corrective phase after yesterday’s bounce off 1.3282, just above 1.3266, 2010 low. Today’s clearance of 1.3409 resistance has so far reached 1.3417, followed by pullback. 1.3341, today’s low, needs to hold to keep immediate bulls in play, and above 1.3417 to extend correction towards 1.3459, where a lower top should take place, ahead of fresh weakness. Only break above the latter would allow for stronger correction.

Res: 1.3417, 1.3438, 1.3459, 1.3497
Sup: 1.3341, 1.3320, 1.3282, 1.3266




GBP/USD

Extends gains off 1.4797 to dent key 1.5380 resistance today. Clear break here would signal further recovery towards 1.5475, while early upside rejection risks lower top, for fresh attempt at 1.5167/28 zone.

Res: 1.5400, 1.5420, 1.5475, 1.5520
Sup: 1.5235, 1.5220, 1.5167, 1.5128




USD/JPY

Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

Res: 93.85, 94.03, 94.25, 94.77
Sup: 93.05, 92.82, 92.75, 92.45




USD/CHF

Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

Res: 1.0742, 1.0795, 1.0809, 1.0827
Sup: 1.0677, 1.0650, 1.0608, 1.0585

[WindsorBrokers]

EUR/USD

The latest advance off 1.3280, 08 Apr low, has breached key 1.3591 resistance, to extend gains to 1.3691 overnight and retrace over 61.8% of the broader 1.3816/1.3266 decline. Scope is now seen for upside attempt towards 1.3735, with current pullback on overbought conditions to be contained by 1.3538/1.3496, to keep immediate bulls in play.

Res: 1.3691, 1.3735, 1.3788, 1.3816
Sup: 1.3604, 1.3592, 1.3538, 1.3496




GBP/USD

Recovery phase from 1.4780/1.4800 lows broke above key 1.5380 lower platform, to hit 1.5484 earlier this morning. Overbought hourly structure sees correction now under way, with 1.5380 offering immediate support, ahead of fresh push higher, as daily conditions remain supportive for continuation of the recent strength, focusing 1.5574 next. Below 1.5380, however, may risk deeper reversal.

Res: 1.5484, 1.5520, 1.5574, 1.5632
Sup: 1.5380, 1.5313, 1.5267, 1.5235




USD/JPY

Rally off 89.74, 18 Mar low, peaked at 94.77 on 05 Apr. A corrective phase followed and support was found at 92.83, near 38.2% retracement of the entire move. 92.77, today’s higher low now supports and clearance of 93.55/78 expected to resume near-term gains and open 94.25 next. Downside loss of 92.88/75 risks 92.26/11 instead.

Res: 93.55, 93.85, 94.03, 94.25
Sup: 92.88, 92.75, 92.45, 92.26




USD/CHF

Continues to fall sharply off last week’s failure at 1.0784, possibly completing recent 3-week expanded flat, ahead of retesting 200-day MA, currently at 1.0475, and lower towards 1.0435. Intraday falling gap left at 1.0626/55 weighs for now.

Res: 1.0625, 1.0655, 1.0686, 1.0713
Sup: 1.0525, 1.0510, 1.0475, 1.0435