Short Term Technical Analysis for Majors

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:15 GMT)

EUR/USD

Yesterday’s upside rejection at 1.3520 has opened fresh phase lower with today’s clearance of 1.3416 and 1.3397/66 supports, now looking for test of 1.3340, then a key trendline support at 1.3300. Upside remains capped by 1.3444/48 for now.

Res: 1.3448, 1.3501, 1.3520, 1.3544
Sup: 1.3340, 1.3300, 1.3280, 1.3265

GBP/USD

Daily structure may have seen the completion of a three legged correction off 1.4780, 2010 low, posted on 01 Mar. Further resistance to strength may be provided by 1.5463, daily trendline resistance, drawn off 1.6456, 19 Jan yearly high, ahead of 1.5520 15 Apr peak.

Res: 1.5448, 1.5472, 1.5520, 1.5535
Sup: 1.5330, 1.5287, 1.5256, 1.5190

USD/JPY

Correction off 94.77, 05 Apr high, dipped to 91.58, ahead of strong bounce. Clearance of 93.10/18, previous peak/trendline resistance, now focuses 93.51/77, possibly 94.25 on a break. 92.50 area supports the advance for now.

Res: 93.39, 93.51, 93.77, 94.25
Sup: 92.95, 92.56, 92.10, 91.58

USD/CHF

Remains constructive off 1.0500, 14 Apr low, with yesterday's higher rejection at 1.0600 now underpinning a fresh attempt at 1.0750/61. Clearance here projects significant near-term gains. Loss of 1.0620/00, however, weakens the outlook.

Res: 1.0723, 1.0750, 1.0761, 1.0784
Sup: 1.0658, 1.0620, 1.0600, 1.0586

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (09:45 GMT)

EUR/USD

Maintains weak tone from 1.3691/77 top area. Market is trending lower to challenge 1.3300, key trendline support connecting 1.3266/1.3282 lows. Break here would complete a medium-term bear flag for significant move lower. Only regain of 1.3448/1.3520 firms the short-term outlook.

Res: 1.3422, 1.3448, 1.3501, 1.3520
Sup: 1.3356, 1.3340, 1.3300, 1.3280

GBP/USD

Extended gains to break through 1.5448, daily trendline resistance, connecting 1.6456/1.5523, 19 Jan/15 Apr highs. A lower high is sought in this region for fresh falls back towards the 1.4780 annual low. Regain of 1.5520 strengthens.

Res: 1.5472, 1.5520, 1.5535, 1.5575
Sup: 1.5400, 1.5360, 1.5330, 1.5287

USD/JPY

Is attempting again through the trendline resistance connecting 94.77/ 93.70, with 93.43 being reached so far. A possible higher low has now been posted at 92.72, and this is expected to support fresh attempt to 93.45. Break here and 93.77 opens 94.25/77 first.

Res: 93.43, 93.51, 93.77, 94.25
Sup: 92.72, 92.56, 92.38, 92.10

USD/CHF

Pullback from 1.0784, 08 Apr high, found support at 1.0500 on 14 Apr. Higher lows have subsequently developed and above the 1.0600/20 completed a base for recovery toward 1.0761/84. Break above there is required to complete a medium-term bull flag. 1.0658 now offers initial support.


Res: 1.0723, 1.0750, 1.0761, 1.0784
Sup: 1.0658, 1.0620, 1.0600, 1.0586

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:45 GMT)

EUR/USD

Broke below key 1.3300/1.3267 levels yesterday, to complete a 5 week bear flag, extending losses to 1.3201, fresh yearly low, earlier today. Correction followed, with lower top seen ahead of fresh attempt lower. Below 1.3201 to target 1.3140/20.


Res: 1.3345, 1.3356, 1.3422, 1.3448
Sup: 1.3255, 1.3201, 1.3190, 1.3140

GBP/USD

Reversal from yesterday’s 1.5472 high has the makings of head and shoulders top pattern and this shifts focus lower, targeting 1.5287/56 and 1.5216, trendline support. Only regain of 1.5520 will to negate current scenario.

Res: 1.5410, 1.5439, 1.5472, 1.5520
Sup: 1.5287, 1.5256, 1.5216, 1.5190

USD/JPY

Break above the corrective channel at 93.43 signals fresh strength. Market is currently firming off 92.72, 22 Apr low, with latest break through 93.77, now attempting at 94.25. Break here opens on 94.77, 05 Apr high.

Res: 94.25, 94.38, 94.60, 94.77
Sup: 93.25, 92.72, 92.56, 92.38

USD/CHF

Broke above 1.0750 yesterday to complete a 2 month bull flag and clear a falling trendline off last November’s peak. This signals and confirms significant medium-term strength, with 1.0848 seen thus far. Next target stands at1.0899, ahead of 1.1026.

Res: 1.0848, 1.0898, 1.0940, 1.0956
Sup: 1.0744, 1.0724, 1.0674, 1.0658

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:45 GMT)

EUR/USD

Maintains negative one off 1.3691, 12 Apr high, with the latest bounce from 1.3201, 23 Apr low, attempting to leave a lower top at 1.3398. If this is confirmed, then fresh relapse towards key 1.3201/1.3190 lows is likely, and potential break here to extend weakness. Break above 1.3398/1.3422, however, will delay immediate bears and open way for stronger correction.


Res: 1.3345, 1.3356, 1.3422, 1.3448
Sup: 1.3332, 1.3268, 1.3201, 1.3190

GBP/USD

Renewed attempt higher off 1.5294, 23 Apr higher low has cleared 1.5428, trendline resistance, and 1.5472, 22 Apr lower top, en-route to key 1.5523, 15 Apr peak. Potential break here would open a fresh leg higher off 1.4780, yearly low, though, over-extended hourly studies warn of correction. However, failure under 1.5523 may signal return to weakness and below 1.5294/1.5190 to re-focus 1.4780.

Res: 1.5508, 1.5520, 1.5575, 1.5635
Sup: 1.5413, 1.5350, 1.5294, 1.5256

USD/JPY

Remains in uptrend off 92.72 higher low, with the latest attempt through 94.25, 07 Apr high, looking for test of key 94.77, 05 Apr peak. Break here is required to extend short-term recovery from 91.58, 19 Apr low, with test of 95.05, 61.8% retracement of 101.43/84.81 downleg, seen next. 93.29, 23 Apr low, offers initial support and break there would delay immediate bulls.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.90, 93.45, 93.29, 92.72

USD/CHF

Correction from 1.0848, 23 Apr peak, is attempting to leave a higher low, ahead of extension of upleg from 1.0500, 14 Apr higher low. Clearance of 1.0848 is needed to re-focus key 1.0898, 19 Feb yearly high, and potential break higher to resume correction from 0.9916, 26 Nov 2009 low. 1.0711 offers support for now and only break below 1.0674, 22 Apr low, would delay bulls.

Res: 1.0808, 1.0848, 1.0898, 1.0940
Sup: 1.0711, 1.0674, 1.0657, 1.0618

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (07:30 GMT)

EUR/USD

Correction from 1.3201, 23 Apr low, remains capped by 1.3422 thus far, keeping the broader downtrend in play. Downside loss of 1.3290/68 will open 1.3201/1.3190 for retest. Break above 1.3422, however, delays and opens stronger correction towards 1.3448/1.3520.

Res: 1.3422, 1.3448, 1.3501, 1.3520
Sup: 1.3344, 1.3290, 1.3268, 1.3201

GBP/USD

Near-term structure favors a decline towards 1.5396, ahead of final swing higher to complete the upleg from 1.5294. Loss of 1.5350, however, will end bullish bias and open fresh weakness

Res: 1.5508, 1.5520, 1.5575, 1.5635
Sup: 1.5396, 1.5350, 1.5294, 1.5256

USD/JPY

Continues to trend higher, with break through important 93.73/79 area, seeing an extension to 94.35, ahead of the current minor easing. This should precede a challenge on key 94.77, 05 Apr high and near-term pivot, where an eventual break is expected to trigger broader gains off 84.80, 27 Nov 2009 low.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.62, 93.45, 93.29, 92.72

USD/CHF

Correction off 1.0848 is taking the form of a descending wedge and this will set up the next leg higher to test 1.0898 2010 high. 1.0787 marks a short-term pivot, while 1.0698/74 area offers initial support.

Res: 1.0787, 1.0808, 1.0848, 1.0898
Sup: 1.0698, 1.0674, 1.0657, 1.0618

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD

Correction from 1.3201, 23 Apr low, remains capped by 1.3422 thus far, keeping the broader downtrend in play. 1.3290 already dented, with further losses through 1.3268, to open 1.3201/1.3190 next. Break above 1.3422, however, delays and opens stronger correction towards 1.3448/1.3520.

Res: 1.3422, 1.3448, 1.3501, 1.3520
Sup: 1.3268, 1.3201, 1.3190, 1.3165

GBP/USD

Short-term structure has now weakened further, as failing to find support for a potential higher low, has extended losses through 1.5396/50 support, to reach 1.5320 so far. This ends near-term bullish bias and opens way for fresh decline towards 1.5190.

Res: 1.5473, 1.5497, 1.5508, 1.5520
Sup: 1.5320, 1.5294, 1.5256, 1.5190

USD/JPY

Upleg off 91.58, 19 Apr low, has stalled at 94.35 yesterday, just ahead of 94.77, 05 Apr pivot. Subsequent reversal broke below 93.62 and 93.45 supports, threatening now important 93.29, 23 Apr low support. Potential break here to risk 92.96/72, 50% retracement / 22 Apr higher platform, next. Only regain of 94.02 to improve tone.

Res: 94.02, 94.35, 94.60, 94.77
Sup: 93.29, 92.96, 92.72, 92.56

USD/CHF

Correction off 1.0848 has taken the form of a descending wedge and this sets up the next leg higher to test 1.0898, 2010 high. 1.0787 marks a short-term pivot, while 1.0698/74 area offers initial support.

Res: 1.0808, 1.0848, 1.0898, 1.0940
Sup: 1.0718, 1.0698, 1.0674, 1.0657

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

Correction from 1.3201, 23 Apr low, stalled at 1.3412 yesterday, just ahead of key 1.3422 resistance. Retracement of the latest upleg has been completed today, with break under 1.3201/1.3190, now looking for fresh weakness towards1.3120, possibly 1.2964 on a break. 1.3263 offers initial resistance

Res: 1.3263, 1.3290, 1.3342, 1.3412
Sup: 1.3143, 1.3120, 1.3090, 1.2963

GBP/USD

Yesterday's break under 1.5330, trendline support, drawn off 1.4797, 25 Mar low, has pushed back below 1.5294, negating the potential of a double bottom. Losses so far reached 1.5206, just ahead of key 1.5190, 19 Apr low. Break there is needed to re-focus return to 1.4797/1.4780. Upside, 1.5351 expected to cap corrective attempt.

Res: 1.5473, 1.5497, 1.5508, 1.5520
Sup: 1.5190, 1.5128, 1.5042, 1.5004

USD/JPY

Has fallen through 93.29, last Friday's low, to highlight recent 3-legged upswings from 91.58, with immediate risk set at 92.72/56. A swing low, however, remains sought over key 91.60, ahead of return to 94.35/77. Eventual break here to extend short term uptrend..

Res: 93.37, 93.71, 94.02, 94.35
Sup: 92.80, 92.72, 92.56, 92.38

USD/CHF

Yesterday’s corrective triangle break pushed market up to challenge 1.0898. A daily bull flag and trendline break also buoys. The minor corrective ease should now precede an extension to 1.0940/1.1026 next. 1.0759 supports for now, with 1.0700 seen as key.

Res: 1.0808, 1.0848, 1.0898, 1.0940
Sup: 1.0839, 1.0787, 1.0759, 1.0698

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Maintains negative tone, with break of corrective triangle on 27 Apr, extending losses fresh year low at 1.3114 yesterday. Minor correction now precedes a test on 1.3090, 76.4% retracement of 1.2455/1.5140 upleg, possibly 1.2885 near-term. Immediate resistance stands at 1.3263.

Res: 1.3263, 1.3290, 1.3342, 1.3412
Sup: 1.3141, 1.3114, 1.3090, 1.2963

GBP/USD

Recent break under trend-line support off 1.4797 negates the possibility of a double bottom at 1.4780/97. Scope is now seen for a short-term rise to create a lower high for a continuation of weakness.

Res: 1.5240, 1.5293, 1.5351, 1.5365
Sup: 1.5124, 1.5042, 1.5004, 1.4929

USD/JPY

Lower rejection at 92.80 on 27 Apr, confirmed the underlying bull structure. A break above 94.31/35, 26/28 Apr highs, will complete a multi week bull configuration that sights the 97.00 area. Only break below 92.80 would delay.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.71, 93.37, 92.97, 92.80

USD/CHF

Remains in uptrend from 1.0500, with break of hourly triangle on 27 Apr, triggering the latest rise that cleared key 1.0898 barrier, to reach 1.0922 yesterday. 1.0812 now marks a tentative higher platform for fresh attempt at 1.0940 and 1.1026.

Res: 1.0922, 1.0940, 1.0956, 1.0987
Sup: 1.0812, 1.0787, 1.0759, 1.0698

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:15 GMT)

EUR/USD

Bounce off 1.3114, fresh yearly low, remains so far capped by 1.3290, as rally stalled at 1.3277. Negative structure favors break through 1.3114 to focus 1.3090, possibly 1.2885 near-term. Only clearance of 1.3290 to allow stronger correction.

Res: 1.3290, 1.3342, 1.3412, 1.3422
Sup: 1.3181, 1.3141, 1.3114, 1.3090

GBP/USD

Recent break under trend-line support off 1.4797 negates the possibility of a double bottom at 1.4780/97. Scope is now seen for a short-term rise to create a lower high for a continuation of weakness. Regain of 1.5293, would delay immediate bears.

Res: 1.5283, 1.5293, 1.5351, 1.5365
Sup: 1.5141, 1.5124, 1.5042, 1.5004

USD/JPY

Lower rejection at 92.80 on 27 Apr, confirmed the underlying bull structure. A break above 94.31/35, 26/28 Apr highs, will complete a multi week bull configuration that sights the 97.00 area. Only break below 92.80 would delay.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.71, 93.37, 92.97, 92.80

USD/CHF

Remains in uptrend from 1.0500, with break of hourly triangle on 27 Apr, triggering the latest rise that cleared key 1.0898 barrier, to reach 1.0922 yesterday. 1.0787/59 now offers support for fresh attempt at 1.0940 and 1.1026.

Res: 1.0922, 1.0940, 1.0956, 1.0987
Sup: 1.0787, 1.0759, 1.0698, 1.0674

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:45 GMT)

EUR/USD

Bounce off 1.3114, fresh yearly low, currently attempting through 1.3290, with 1.3305 reached so far. Lower top now sought under 1.3342 for fresh weakness to retest 1.3114. An eventual loss here will open 1.3090, then 1.2885.

Res: 1.3342, 1.3412, 1.3422, 1.3447
Sup: 1.3209, 1.3181, 1.3141, 1.3114

GBP/USD

The latest rebound of 1.5141, yesterday’s low, has extended gains through 1.5283/93 and 1.5351 resistances, to reach 1.5389 thus far. This now increases possibilities for final push towards 1.5497/1.5508, with correction on overbought hourly studies seen preceding the rally. 1.5285 offers initial support.

Res: 1.5389, 1.5420, 1.5473, 1.5497
Sup: 1.5314, 1.5285, 1.5219, 1.5141

USD/JPY

Unfolding a potential bull flag on the hourly chart, ahead of next upswing through 94.35, towards key 94.77. Deeper pullback below 93.83/71 would delay while seeking a swing low over 92.80, before next upswing.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.83, 93.71, 93.37, 92.97

USD/CHF

Multiweek flag drives market higher, with break through hourly triangle, triggering the latest rise that reached 1.0922 on 28 Apr. 1.0759 now supports for the next leg higher, and break through 1.0922, to expose 1.1026, 24 Jun 09 high.

Res: 1.0868, 1.0922, 1.0940, 1.0956
Sup: 1.0759, 1.0698, 1.0674, 1.0657

 

[WindsorBrokers]

Windsor Brokers - Short Term Technical Analysis for Majors (08:45 GMT)

EUR/USD

Bounce off 1.3114, fresh yearly low, currently attempting through 1.3290, with 1.3305 reached so far. Lower top now sought under 1.3342 for fresh weakness to retest 1.3114. An eventual loss here will open 1.3090, then 1.2885.

Res: 1.3342, 1.3412, 1.3422, 1.3447
Sup: 1.3209, 1.3181, 1.3141, 1.3114

GBP/USD

The latest rebound of 1.5141, yesterday’s low, has extended gains through 1.5283/93 and 1.5351 resistances, to reach 1.5389 thus far. This now increases possibilities for final push towards 1.5497/1.5508, with correction on overbought hourly studies seen preceding the rally. 1.5285 offers initial support.

Res: 1.5389, 1.5420, 1.5473, 1.5497
Sup: 1.5314, 1.5285, 1.5219, 1.5141

USD/JPY

Unfolding a potential bull flag on the hourly chart, ahead of next upswing through 94.35, towards key 94.77. Deeper pullback below 93.83/71 would delay while seeking a swing low over 92.80, before next upswing.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.83, 93.71, 93.37, 92.97

USD/CHF

Multiweek flag drives market higher, with break through hourly triangle, triggering the latest rise that reached 1.0922 on 28 Apr. 1.0759 now supports for the next leg higher, and break through 1.0922, to expose 1.1026, 24 Jun 09 high.

Res: 1.0868, 1.0922, 1.0940, 1.0956
Sup: 1.0759, 1.0698, 1.0674, 1.0657

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Correction from 1.3114, 28 Apr yearly low needs a clear break above 1.3412/22 to neutralize immediate bears. Downside bias now favors a weakness through 1.3114, to target 1.3090, 76.4% retracement of 1.24551.5144 rise.

Res: 1.3342, 1.3360, 1.3412, 1.3422
Sup: 1.3204, 1.3181, 1.3141, 1.3114

GBP/USD

Break under daily trend line support off 1.4797, seen last week, negated the prior potential for a double bottom reversal in favor of a fresh relapse towards 1.5124 initially. Regain of 1.5389, last Friday’s high, is needed to neutralize near-term weakness.

Res: 1.5334, 1.5364, 1.5389, 1.5421
Sup: 1.5210, 1.5160, 1.5141, 1.5124

USD/JPY

The 5-wave rally from 88.13, 04 Mar yearly low, remains so far capped by 94.58/77 area, equality of 88.13/92.09 rise from 91.58 higher low/2.236 extension, but breakout would highlight 2.618 target at 95.86. However, positive tone persists while 92.80/72 supports hold.

Res: 94.35, 94.60, 94.77, 95.05
Sup: 93.83, 93.71, 93.37, 92.97

USD/CHF

Multiweek flag drives market higher, with break through hourly triangle, triggering the latest rise that reached 1.0922 on 28 Apr. Higher low at 1.0728 now supports for the next leg higher, and break through 1.0922, to expose 1.1026, 24 Jun 09 high.

Res: 1.0868, 1.0922, 1.0940, 1.0956
Sup: 1.0745, 1.0728, 1.0698, 1.0674

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD
Correction from 1.3114, 28 Apr yearly low needs a clear break above 1.3412/22 to neutralize immediate bears. Downside bias now favors a weakness through 1.3114, to target 1.3090, 76.4% retracement of 1.24551.5144 rise.

Res: 1.3342, 1.3360, 1.3412, 1.3422
Sup: 1.3204, 1.3181, 1.3141, 1.3114

GBP/USD
Break under daily trend line support off 1.4797, seen last week, negated the prior potential for a double bottom reversal in favor of a fresh relapse towards 1.5124 initially. Regain of 1.5389, last Friday’s high, is needed to neutralize near-term weakness.

Res: 1.5334, 1.5364, 1.5389, 1.5421
Sup: 1.5210, 1.5160, 1.5141, 1.5124

USD/JPY

The 5-wave rally from 88.13, 04 Mar yearly low, remains so far capped by 94.58/77 area, equality of 88.13/92.09 rise from 91.58 higher low/2.236 extension, but breakout would highlight 2.618 target at 95.86. However, positive tone persists while 92.80/72 supports hold.

Res: 94.58, 94.77, 95.05, 95.30
Sup: 93.83, 93.71, 93.37, 92.97

USD/CHF

Multiweek flag drives market higher, with break through hourly triangle, triggering the latest rise that reached 1.0922 on 28 Apr. Higher low at 1.0728 now supports for the next leg higher, and break through 1.0922, to expose 1.1026, 24 Jun 09 high. Only loss of 1.0698 would delay.

Res: 1.0868, 1.0922, 1.0940, 1.0956
Sup: 1.0745, 1.0728, 1.0698, 1.0674

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:15 GMT)

EUR/USD

Correction off 1.3114 stalled at 1.3360 yesterday, ahead of sharp reversal. This confirms the underlying bear structure. Break through1.3141 will open 1.3114 where an eventual loss will expose 1.3090 first. Near-term, 1.2885 is seen next. Upside, 1.3223/52 expected to cap.

Res: 1.3211, 1.3223, 1.3252, 1.3342
Sup: 1.3141, 1.3114, 1.3090, 1.2965

GBP/USD

Recent failure to sustain gains off daily double bottom at 1.4780/1.4797 had been triggered warns of a relapse back towards 1.5141 initially. Hourly structure remains negative with a bear flag now triggered, and potential break through 1.5141/24 to re-focus 1.4797/80. Only regain of 1.5389 to improve the outlook.

Res: 1.5334, 1.5364, 1.5389, 1.5421
Sup: 1.5160, 1.5141, 1.5124, 1.5075

USD/JPY

Maintains positive structure, with today’s clearance of 94.77 resistance, market now focusing 95.07, 61.8% of 101.43/84.80 descend. Break here opens 95.30/50 next, with near-term target standing at 97.00 area. 94.42 offers initial support, ahead of 93.83.

Res: 94.97, 95.07, 95.30, 95.50
Sup: 94.42, 93.83, 93.71, 93.37

USD/CHF

Maintains bullish tone, with yesterday’s lower rejection at 1.0728 now supporting fresh advance to retest 1.0922, 28 Apr peak. Break here will open 1.0985 first, ahead of possible extension to 1.1021. Immediate support now stands at 1.0808, ahead of key 1.0728 level.


Res: 1.0922, 1.0940, 1.0985, 1.1021
Sup: 1.0808, 1.0745, 1.0728, 1.0698

 

[samuelhogg]

Re: Short Term Technical Analysis for Majors (08:15 GMT)

Thank you for your analysis but I think it would be better if you kept all the posts to one thread.
This would make it easier to see previous days analysis and also keep the forum more tidy.

Maybe call it 'Short Term Technical Analysis for Majors - Provided by windsorbrokers'. If that is allowed.

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (14:15 GMT)

EUR/USD

Continues to trend lower, following yesterday’s failure at 1.3360. Today’s break below 1.3114, yearly low, has triggered an extension of the underlying bear structure, with 1.3000, psychological level, seen next. Below here would focus 1.2964, then 1.2885, Apr 2009 low.

Res: 1.3153, 1.3214, 1.3252, 1.3342
Sup: 1.3000, 1.2964, 1.2885, 1.2835

GBP/USD

Recent failure to sustain gains off daily double bottom at 1.4780/1.4797 had been triggered warns of a relapse back towards 1.5141 initially. Hourly structure remains negative with a bear flag now triggered, and potential break through 1.5141/24 to re-focus 1.4797/80. Only regain of 1.5389 to improve the outlook.

Res: 1.5210, 1.5265, 1.5283, 1.5334
Sup: 1.5124, 1.5075, 1.5042, 1.4929

USD/JPY

Today’s attempt at 95.07 failed at 94.97, ahead of pullback. This has dented 94.42, initial support, increasing possibility of stronger correction, ahead of fresh push higher. 94.27/93.83 offer good support for now and only below the latter to question near-term bulls. Above 95.07, will focus 95.30/50.

Res: 94.97, 95.07, 95.30, 95.50
Sup: 94.27, 93.83, 93.71, 93.37

USD/CHF

Extends gains from 1.0728, yesterday’s higher low, and break through 1.0922, 28 Apr peak, currently testing 1.0985, 08 Jun 2009 high. Clear break here to expose 1.1021/1.1057, June/May 2009 highs, respectively. Overbought hourly studies warn of correction, with 1.0839/08 offering initial support.


Res: 1.0985, 1.1021, 1.1057, 1.1070
Sup: 1.0839, 1.0808, 1.0745, 1.0728

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

Continues to trend lower, following reversal off key lower top at 1.3360, and break below pivotal 1.3114 low. 1.2935 has been reached so far, en-route to 1.2885/40, 22 Apr 2009 low/trendline off 1.2331, Oct 2008 bottom. 1.2995/1.3047 offers immediate resistance.

Res: 1.3047, 1.3113, 1.3153, 1.3214
Sup: 1.2935, 1.2920, 1.2885, 1.2835

GBP/USD

Maintains negative tone after break of trendline drawn off 1.4797 higher low, with fresh 1.5089 low being reached yesterday. Market now looks for test of 1.5042, break of which would re-focus 1.4797/80. Upside, regain of key 1.5389 high is now required to improve outlook.

Res: 1.5186, 1.5210, 1.5265, 1.5283
Sup: 1.5089, 1.5075, 1.5042, 1.4929

USD/JPY

Remains bullish after break through long-term falling trendline drawn off 123.95, projecting further gains. Consolidation under 94.97 is forming a likely continuation for a break above 95.07, 61.8% retracement of 101.43/84.80. This opens 95.30/50 first. 94.30 offer initial support.

Res: 94.97, 95.07, 95.30, 95.50
Sup: 94.30, 93.83, 93.71, 93.37

USD/CHF

Ascend from 1.0728 higher low has cleared 1.1021, extending gains to 1.1072 thus far. Short-term studies are overstretched, signaling correction. Higher low near 1.0923 is favored, for fresh attempt higher, and above 1.1072 to focus 1.1180, 61.8% of the 1.1966/0.9916 decline.

Res: 1.1072, 1.1107, 1.1130, 1.1165
Sup: 1.1000, 1.0976, 1.0923, 1.0887

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Continues to trend lower, following reversal off key lower top at 1.3360, and break below pivotal 1.3114 low. 1.2885/40 targets have been cleared, exposing trendline support at 1.2680 next. Hourly studies are overstretched and correction may precede fresh weakness.


Res: 1.2945, 1.2996, 1.3047, 1.3113
Sup: 1.2800, 1.2755, 1.2730, 1.2680

GBP/USD

Maintains negative tone after break of trendline drawn off 1.4797 higher low, extending losses through 1.5089, yesterday low, to reach 1.5066, just ahead of 1.5042 target. Break here to favor further weakness and open way towards 1.4797/80. Only regain of 1.5389 improves.

Res: 1.5172, 1.5186, 1.5210, 1.5265
Sup: 1.5042, 1.5004, 1.4975, 1.4929

USD/JPY

Remains bullish after break through long-term falling trendline drawn off 123.95, projecting further gains. Consolidation under 94.97 is forming a likely continuation for a break above 95.07, 61.8% retracement of 101.43/84.80. This opens 95.30/50 first. 94.30 offer initial support.

Res: 94.97, 95.07, 95.30, 95.50
Sup: 94.30, 93.83, 93.71, 93.37

USD/CHF

Ascend from 1.0728 higher low has breached 1.1072 resistance, rallying sharply to reach 1.1185, 61.8% retracement of the 1.1966/0.9916 decline. Next target is seen at 1.1266. Hourly studies remain overstretched.

Res: 1.1072, 1.1107, 1.1130, 1.1165
Sup: 1.1000, 1.0976, 1.0923, 1.0887

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (09:00 GMT)

EUR/USD

The latest push lower has taken out 1.2885, 22 Apr higher low to extend losses to 1.2736 thus far, within a falling channel off 1.4580 yearly high. Downside risk is seen to channel support at 1.2695, while regain of 1.2857/1.2906 is needed to strengthen.

Res: 1.2857, 1.2906, 1.2945, 1.2996
Sup: 1.2736, 1.2695, 1.2680, 1.2616

GBP/USD

Break under 1.5075, 61.8% retracement of the 1.4797/1.5523 upleg, confirms the negative structure in place already. 1.5011 low has been reached today, with return to 1.4797 now very likely. Further losses on break of 1.4797/80 are not ruled out. Regain of 1.5389 is needed to improve.

Res: 1.5066, 1.5146, 1.5172, 1.5186
Sup: 1.5011, 1.4975, 1.4929, 1.4888

USD/JPY

Hourly double top at 94.97, posted on04/05 May, sparked a corrective dip under 94.32, to clear 93.51 spike low, to hit 93.28 today. This suggests a deeper setback towards 92.80, before underlying bulls attempt to reassert. Break above 94.00 firms tone.

Res: 93.98, 94.31, 94.48, 94.97
Sup: 93.28, 92.97, 92.80, 92.72

USD/CHF

Monday’s break above the corrective triangle has pushed the market up through 1.0925/1.1021/1.1180 resistance, to reach 1.1244 high so far. Near-term studies remain stretched as the market now looks for test of 1.1262, with correction likely. 1.1103/1.1021 should hold dips.

Res: 1.1244, 1.1262, 1.1335, 1.1365
Sup: 1.1150, 1.1103, 1.1021, 1.1000

 

[WindsorBrokers]

Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Extended losses through a long-term trendline support at 1.2695 to reach fresh low of 1.2515 yesterday, above 1.2455, Mar 2009 major higher low, and key 1.2331, 2008 bottom. Current bounce is seen corrective, ahead of fresh weakness, with 1.2770/1.2857 capping for now.

Res: 1.2771, 1.2826, 1.2857, 1.2906
Sup: 1.2583, 1.2555, 1.2515, 1.2455

GBP/USD

Broke through key 1.4797/80 supports, accelerating losses to 1.4594 today. Bounce emerged from here is seen corrective, while 1.4780, now reverted to resistance, holds. Fresh weakness through 1.4594 to focus 1.4515, with possible extension towards 1.4200zone not ruled out. Above 1.4780, however, to allow stronger correction.

Res: 1.4780, 1.4932, 1.4951, 1.5011
Sup: 1.4594, 1.4515, 1.4445, 1.4395

USD/JPY

Collapsed to 87.95 yesterday, breaking below key 88.13 Mar low, before rebounding powerfully to reach 92.77 so far. Dips now need to retain footing over 91.00 to maintain immediate bull tone.

Res: 92.77, 93.27, 93.52, 93.98
Sup: 91.52, 90.98, 90.00, 89.70

USD/CHF

Break of a multiweek trendline and bull flag has been driving market higher. 1.1244 high was reached yesterday, ahead of consolidation that precedes a likely push higher, to target 1.1484, 76.4% retracement of 1.1966/0.9916 decline. 1.1015 now buoys advance.

Res: 1.1180, 1.1244, 1.1262, 1.1335
Sup: 1.1090, 1.1015, 1.0976, 1.0923