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

EURUSD

The Euro cracked psychological 1.06 support, on extension of last Friday’s bearish acceleration that left bearish outside day. Strong bearish stance is also confirmed by negative weekly close. Firm break below 1.06 handle, is expected to trigger stops and accelerate towards next target at 1.0519, 10 Apr low with key med-term support at 1.0461, Mar 2015 year-to date low, seen in extension.
Limited corrections are expected, with falling daily 10SMA / Tenkan-sen, which maintains month-long descend, offering strong resistance at 1.07 zone, where upticks should be ideally capped.
Only sustained break above 1.0760, last Friday / 16 Nov peaks, would ease strong bearish pressure and allow for extended recovery.
Res: 1.0661; 1.0706; 1.0727; 1.0760
Sup: 1.0599; 1.0560; 1.0519; 1.0461








GBPUSD

Cable reversed quickly and left long daily bearish candle on Friday, following last Thursday’s upside rejection at strong 1.5340 zone, daily Ichimoku cloud base / 200SMA. Friday’s action was capped by south-turning daily 30SMA, where tower top was left at 1.5308.
Bearish acceleration closed below daily 10SMA at 1.5206 and so far touched 1.5138, below Fibonacci 61.8% of 1.5025/1.5334 upleg.
Near-term studies turned bearish on current weakness, while daily bears are re-confirmed on return to firm bearish setup of daily MA’s.
The pair is looking for next support at 1.5100, Fibonacci 76.4% level / hourly higher base, the last obstacle on the way to 1.5025, 06 Nov low and psychological 1.5000 support.
Oversold 4-hour slow Stochastic may trigger extended consolidation, with broken daily 10SMA, currently at 1.5205, expected to ideally cap.
Only break above falling daily 20SMA at 1.5246, would sideline near-term bears.

Res: 1.5175; 1.5205; 1.5246; 1.5260
Sup: 1.5138; 1.5100; 1.5025; 1.5000









USDJPY

The pair is gaining traction on bounce from 122.60/70 zone, last Thu/Fri lows and establishes above 123 handle. Fresh rally commenced after bears showed hesitation at 122.60 low, which stayed intact and Doji candle was left on Friday.
Weekly close was also bullish, despite strong selling pressure earlier.
Higher low is now forming at 122.60, for renewed attacks at key 123.74 barrier, peak of 18 Nov, which guards our short-term target at 124.14.
Broken daily 10SMA offers initial support at 123, ahead of 122.60 higher base and pivotal 122.20 higher low, reinforced by rising daily 20SMA.

Res: 123.31; 123.47; 123.74; 124.14
Sup: 123.00; 122.61; 122.20; 121.47









AUDUSD
Aussie pulls back below thin daily cloud base at 0.7170, after strong two-day bullish acceleration peaked at 0.7248. Recovery failed to close above 0.7240, Fibonacci 61.8% of 0.7380/0.7014 descend, missing another bullish signal, in favor of corrective pullback.
The pair found footstep at 0.7157, double-Fibonacci support, also former consolidation tops, which should act as ideal support and limit near-term bears off 0.7248.
Slow Stochastic of 4-hour chart is entering oversold territory and could be seen as initial reversal signal. However, regain of minimum 0.72 level, which lies near Fibonacci 38.2% of 0.7248/0.7157, is needed to confirm scenario.
Caution on overbought conditions of daily slow Stochastic and MACD / Momentum studies hovering around the midlines.
Return below 0.7157 will trigger fresh bears and signal extension of reversal from 0.7248.

Res: 0.7200; 0.7240; 0.7265; 0.7300
Sup: 0.7157; 0.7136; 0.7100; 0.7067

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

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

EURUSD

The Euro bounced after posting fresh low at 1.0615 yesterday, on profit-taking action that peaked at 1.0717. Falling daily 10SMA, reinforced by falling daily Tenkan-sen, which maintains downmove for the past month, capped so far the rally at 1.0717.
This barrier should ideally keep the upside protected, however, extension higher cannot be ruled out, as hourly studies turned positive.
Overall picture remains firmly bearish and favors fresh action lower, on completion of current consolidation.
Next significant barriers lay at 1.0760, hourly double top and 4-hour Ichimoku cloud base and 1.0800/28, Fibonacci 38.2% of 1.1094/1.0615 / 12 Nov low and mark the upside breakpoint
Res: 1.0717; 1.0760; 1.0800; 1.0828
Sup: 1.0666; 1.0629; 1.0615; 1.0600







GBPUSD

Cable probes above four-day 1.5262/1.5153 congestion, following two-day rally from 1.5153, 17 Nov range low, where higher low is forming, after false break below strong weekly Ichimoku cloud support at 1.5191.
Cracking descending daily 20SMA / Kijun-sen line at 1.5267, could be seen as initial bullish signal, though, gains so far stay below psychological 1.5300 barrier.
The notion is supported by near-term studies, which gained bullish tone.
On the other side, daily technicals remain bearishly aligned, with the pair facing strong resistance zone above 1.53 barrier, which consist of sideways-moving daily 30SMA and 200SMA at 1.5306 and 1.5339, respectively.
Sustained break here is needed to confirm bearish resumption and neutralize existing risk of recovery stall.

Res: 1.5291; 1.5306; 1.5340; 1.5370
Sup: 1.5248; 1.5226; 1.5206; 1.5185









USDJPY

The pair pulls back in corrective action, after marginally higher high was posted at 123.74. Probe below initial support and former consolidation floor at 123.17, Fibonacci 38.2% of 122.20/123.74, generated initial signal of deeper pullback, which so far hit support at 123.08, rising daily 10SMA.
Strong support lies at 123 zone, defined by 10SMA and 4-hour Ichimoku cloud top and should ideally contain dips, to prevent deeper pullback.
However, near-term studies are weakening and cannot rule out further correction.
Extended corrective action, also signaled by daily RSI / slow Stochastic, reversing from overbought territory, should not exceed key near-term support at 122.20, 16 Nov higher low.

Res: 123.36; 123.74; 124.14; 124.50
Sup: 123.08; 122.90; 122.79; 122.56








AUDUSD
The pair rallies above near-term 0.7156/0.7067 consolidation, after strong barriers of falling daily 20SMA and trendline resistance at 0.7125, were taken out.
Today’s fresh strength, follows yesterday’s indecision, shaped in Doji with long tail, commences the third wave of recovery from 0.7014, low of 10 Nov. Daily close above 0.7156, former range top and Fibonacci 38.2% of 0.7380/0.7014 downleg, is seen as minimum requirement to confirm bullish resumption. The notion is supported by probe above the top of thin daily cloud top, which twists higher.
Next important barriers lay at 0.7210/22, Fibonacci 100% expansion / 04 Nov lower top.
Daily indicators are heading north and gaining bullish momentum for fresh upside extension.
Broken daily 20SMA / bear-trendline, now offer strong support, guarding 0.7067 higher low and downside breakpoint.

Res: 0.7177; 0.7197; 0.7210; 0.7222
Sup: 0.7151; 0.7125; 0.7067; 0.7048

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

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

EURUSD

The Euro is back above 1.10 handle, where it closed on Friday, after recovery rally was capped by bear-trendline that connects 1.1712 and 1.1458 peaks at 1.1070 and daily candle with long upper shadow, signaled strong selling interest.
Further recovery cannot be ruled out, as daily slow Stochastic is heading north, after reversing from oversold zone, with potential probes above trendline resistance, now at 1.1055, expected to find strong barriers at 1.1082, falling daily 10SMA that formed Golden Cross and 200SMA 1.1107, which is expected to cap extended rallies.
Downside remains at risk, as bearish signal was given by strong bearish monthly close, with prolonged consolidation, signaled by weekly long-legged Doji and failure to close below monthly wedge support line, expected to precede fresh leg lower.


Res: 1.1048; 1.1082; 1.1107; 1.1138
Sup: 1.1011; 1.0964; 1.0895; 1.0862







GBPUSD

Cable remains well supported and looks for retest of strong 1.5506 barrier, lower platform, where several upside attempts were rejected, following last Friday’s strong rally that left the longest daily bullish candle after 14 Oct rally.
Bullish weekly and monthly close, support further upside, with another bullish signal, given by monthly Bullish Engulfing pattern.
Fresh strength probes above thin daily Ichimoku cloud, which doesn’t act as strong barrier.
Daily studies are positive, with daily MA’s, turning into firm bullish setup, after Friday’s strong rally, supporting final attack at1.5506 breakpoint.
Corrective dips could be anticipated before final break above 1.5506 platform, as near-term studies are entering overbought territory


Res: 1.5506; 1.5566; 1.5605; 1.5656
Sup: 1.5435; 1.5380; 1.5365; 1.5326









USDJPY

The pair continues to trade within 120.00/121.46, near-term congestion, following repeated rejection at strong 121.46 barrier. Return below daily cloud top at 120.73, which now acts as initial barrier and so far caps today’s action, weakens again near-term structure.
Extended consolidation is seen as favored near-term scenario, before the pair establishes in fresh direction, as the price remains in short-term directionless mode, holding within two-month range between 121.64 and 118.05.

Res: 120.70; 121.02; 121.46; 121.64
Sup: 120.16; 120.00; 119.60; 119.35








AUDUSD
The pair extends near-term recovery attempt off 0.7064, correction low, following Friday’s strong bullish close and today’s fresh rally that penetrated daily Ichimoku cloud base at 0.7120. Near-term technicals are gaining traction and see potential for further recovery.
Bullish monthly close could be seen as initial signal. However, rallies need to break above daily Ichimoku cloud top at 0.7180, reinforced by daily Tenkan-sen line and Fibonacci 38.2% of 0.7380/0.7064 downleg, to sideline downside risk and signal stronger correction.
Daily slow Stochastic is reversing from oversold zone and support scenario.
Lift above initial pivot at 0.7180, to expose next significant barriers at 0.7222, daily 20SMA and 0.7260, Fibonacci 61.8% retracement, break of which to confirm reversal.

Res: 0.7180; 0.7122; 0.7260; 0.7296
Sup: 0.7120; 0.7082; 0.7064; 0.7000

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

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

EURUSD

The pair closed in red yesterday, with psychological 1.13 support, reinforced by daily Kijun-sen line, containing dips for now. Near-term technicals are bearishly aligned and see risk of slide below 1.13 handle, for test of strong support zone that lies just below. Daily 20SMA offers initial support at 1.1280, followed by thin 1.1260/73 daily Ichimoku cloud and 1.1253, Fibonacci 61.8% of 1.1103/1.1494 rally.
However, setup of daily MA’s and indicators, remains bullish and signals possible reversal above strong support zone. Oversold daily slow Stochastic, support the notion.
Break below 1.1250 is needed to confirm bearish resumption, while bullish scenario requires lift above initial barrier at 1.1378, Fibonacci 38.2% of 1.1494/1.1304 / hourly lower base, as bullish signal. Return above 1.14 handle, is needed to confirm near-term bulls fully in play.


Res: 1.1378; 1.1395; 1.1422; 1.1450
Sup: 1.1300; 1.1270; 1.1253; 1.1230







GBPUSD

Cable remains in narrow near-term consolidation, entrenched within daily Ichimoku cloud, with fresh attempts above cloud top, underway. Near-term structure remains bullish and sees final push through 1.55 barrier and resumption of recovery rally, as favored scenario.
Bullish daily studies, with fresh attempts through 100SMA, which capped upside attempts in past few sessions and expanding 20d Bollinger bands, support scenario.
Daily slow Stochastic, which moves sideways in the overbought territory, warns of possible extended consolidation.
Daily cloud base at 1.5404, marks pivotal support and break lower would activate alternative scenario of stronger correction of 1.5198/1.5506 upleg.

Res: 1.5506; 1.5526; 1.5561; 1.5597
Sup: 1.5453; 1.5425; 1.5404; 1.5352







USDJPY


The pair extends near-term recovery from fresh low at 118.05 and probes above 119.65, last Friday’s recovery top / daily Kijun-sen line, after yesterday’s narrow consolidation. Near-term bulls are gaining traction and threaten to break above the first pivot at 119.85, daily 20SMA, which is expected to cap recovery rallies.
Break higher would sideline downside attempts, in favor of stronger recovery above 12 barrier, which would bring in focus breakpoint zone, shaped in thin daily Ichimoku cloud and laying at 120.32/70 span.
Otherwise, daily close below 20SMA, would signal an end of corrective phase and shift near-term focus lower again.

Res: 119.85; 120.00; 120.32; 120.70
Sup: 119.40; 119.12; 118.90; 118.70







AUDUSD

Aussie probes above descending daily cloud top again, following yesterday’s unsuccessful attempts above 0.73 barrier that left red daily candle with long upper shadow and weakened near-term structure.
Near-term studies hold neutral tone, as the price is entrenched within 0.7240/0.7305 range, in directionless mode.
Daily picture show the price action holding in triangular consolidation, following 0.7380/0.7196 corrective pullback. Setup of daily technicals remains bullish and favors fresh upside attempts, with 0.7305, marking initial barrier, followed by falling 100SMA at 0.7341 and 15 Oct lower top at 0.7361, to expose key 0.7380 peak.
On the downside, yesterday’s low at 0.7235, offers immediate support, guarding 0.7196 breakpoint, 14 Oct pullback’s low.

Res: 0.7305; 0.7341; 0.7361; 0.7380
Sup: 0.7273; 0.7235; 0.7196; 0.7157

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

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

EURUSD

Near-term structure remains bullish, as renewed strength attempts again at 1.14 barrier, after pullback from yesterday’s peak at 1.1395, found footstep at 1.1342, broken bull-channel resistance. Completion of consolidation phase, confirmed by yesterday’s Doji, to open fresh acceleration towards next targets at 1.1458/65, peaks of 18 Sep / 15 May and 1.1473, Fibonacci 61.8% of 1.1725/1.1086 descend. Daily close above the latter, would trigger fresh acceleration higher.
Yesterday’s low at 1.1342, offers good support, ahead of 1.1309, Fibonacci 38.2% of 1.1170/1.1395 rally, loss of which would revive near-term bears.


Res: 1.1396; 1.1458; 1.1473; 1.1500
Sup: 1.1375; 1.1360; 1.1342; 1.1307








GBPUSD

Cable is regaining traction and probes above three-day congestion top at 1.5380, after consolidative phase was contained at very strong 1.53 support zone, reinforced by daily 20SMA, with 200SMA, laying ticks above. Sustained break above 1.5380, which also marks the mid-point of 1.5656/1.5105 descend, is needed to resume recovery rally from 1.5105, interrupted by 1.5300/1.5380 consolidation. Next targets lay at 1.5427, daily 55SMA, ahead of 1.5446, Fibonacci 61.8% retracement.
Prolonged consolidation should hold above 1.53 handle, otherwise, sustained break here would signal lower platform formation and possible end of recovery phase.

Res: 1.5386; 1.5427; 1.5446; 1.5500
Sup: 1.5318; 1.5300; 1.5260; 1.5240







USDJPY

Near-term price action attacks the lower boundary of the triangle, after yesterday’s action was limited by daily 20SMA, keeping intact triangle’s top at 120.27 and more significant thin 127.37/70 daily Ichimoku cloud. Alignment of daily technicals is negative and will favor fresh downside attempts, while daily cloud caps. Sustained break below triangle support, currently at 120.68, will put pressure on short-term congestion floor at 119 zone and signal fresh direction, on violation of the latter.
Conversely, upside resumption requires break above daily cloud and 200SMA, currently at 120.87.

Res: 120.08; 120.27; 120.37; 120.70
Sup: 119.68; 119.23; 119.05; 118.67








AUDUSD
Aussie enters near-term corrective phase, after strong and uninterrupted rally from 0.6935 double-bottom, peaked at 0.7380, being limited by falling daily 100SMA. Corrective easing that returned into daily cloud and cracked psychological 0.7300 handle, so far holds above initial support at 0.7278, former peaks / Fibonacci 23.6% of 0.6935/0.7380 rally. Extended dips, which are signaled by overbought daily slow Stochastic, turning lower, should be ideally contained above 0.7210, Fibonacci 38.2% of 0.6935/0.7380, to keep overall bulls intact.

Res: 0.7362; 0.7380; 0.7409; 0.7435
Sup: 0.7291; 0.7273; 0.7210; 0.7180

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

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

EURUSD

Near-term action returns into daily Ichimoku cloud, base of which acted as strong resistance in past few days. Fresh attempts above bear-trendline, connecting 1.1712 and 1.1458 tops and daily Kijun-sen line at 1.1272, give positive signal and turn focus towards the upper boundary of near-term congestion at 1.131, also 61.8% of 1.1458/1.1103 and daily cloud top at 1.1356. The latter marks pivotal barrier and sustained break here is required to end near-term range phase and signal bullish resumption.
On the other side, daily 20SMA, offers support at 1.1244 and repeated close below here, would signal false breaks higher and confirm extended range-trading.
Pivotal support lies at 1.1147, 200SMA / bull-trendline off 1.1103 low.


Res: 1.1308; 1.1317; 1.1356; 1.1400
Sup: 1.1260; 1.1244; 1.1232; 1.1210







GBPUSD

Cable is attempting through strong barrier at 1.5315, Fibonacci 38.2% of 1.5656/1.5105 fall, reinforced by daily 20, 30 and 200SMA. Yesterday’s close that occurred above broken bull-trendline, connecting 4.4563 and 1.5163 lows, at 1.5300, gives positive signal for firm break above pivotal 1.5315 barrier. Daily close above here to confirm break and open immediate barrier at 1.5380, daily Kijun-sen line and 50% retracement. Further acceleration would expose 1.5446, Fibonacci 61.8% of 1.5656/1.5105. Session low and consolidation floor at 1.5295, offers initial support, ahead of 1.5260, Fibonacci 38.2% of 1.5135/1.5337 rally and pivotal 1.5240 support, tops of former 1.5105/1.5240 consolidation.

Res: 1.5337; 1.5381; 1.5446; 1.5500
Sup: 1.5295; 1.5260; 1.5240; 1.5213







USDJPY

Near-term focus shifts towards triangle’s lower boundary, after unsuccessful attempts to sustain attempts above triangle resistance, which were capped by daily cloud base, pivotal resistance. Technicals of lower timeframes are losing traction and could trigger further weakness, as daily studies remain bearish. Daily close below 119.60, triangle support line, is required to confirm scenario and expose 119 zone, floor of near-term congestion.

Res: 120.13; 120.55; 120.70; 120.86
Sup: 119.60; 119.47; 119.05; 118.67








AUDUSD
The pair corrects strong rally of past few days that peaked at 0.7233 yesterday, capped by the upper 20d Bollinger band and Fibonacci 61.8% of 0.7435/0.6906. The pullback is seen preceding final attack at 0.7278 peak and key resistance and should be ideally contained at 0.7145 Fibonacci 38.2% of 0.7000/0.7233 upleg. Otherwise, deeper correction could be expected towards pivotal 0.7090 support, daily 20SMA / Fibonacci 61.8% retracement. Only break here would neutralize near-term bulls.

Res: 0.7214; 0.7233; 0.7278; 0.7310
Sup: 0.7163; 0.7145; 0.7109; 0.7090

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

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

EURUSD

The Euro extends recovery rally off daily Ichimoku cloud top, which marks initial support and yesterday’s low. Today’s fresh acceleration higher, tested daily 20SMA at 1.1225, so far. Bullish near-term structure sees scope for further upside, on extension above 20SMA, to expose next strong barrier at 1.1265, 200SMA. Sustained break here would sideline current scenario that favors selling rallies, for stronger correction towards 1.1331, lower top of 01 Sep and breakpoint. Otherwise, look for lower top formation, ideally under 200SMA, for fresh leg lower, to re-focus near-term targets at 1.1086, hourly base and 1.1020/15, daily Ichimoku cloud base / higher lows of 18/19 Aug.

Res: 1.1230; 1.1265; 1.1278; 1.1300
Sup: 1.1150; 1.1120; 1.1086; 1.1015







GBPUSD

Cable accelerates higher, extending the third wave of recovery from 1.5165, hourly base. The wave C, which commenced from 1.5267, so far cracked its 100% Fibonacci expansion level at 1.5383 and could extend to 1.5428, 138.2% Fibonacci expansion. Also, break above 200SMA at 1.5356, supports scenario of extended correction, with near-term technicals, turning into bullish mode. The notion is supported by daily slow Stochastic that reversed from oversold zone and gives bullish signal. However, to confirm reversal and open way for further retracement of steep downmove from 1.5816 to 1.5163, break above 1.5490, 50% of the fall and daily 20SMA, is required.

Res: 1.5386; 1.5412; 1.5427; 1.5454
Sup: 1.5325; 1.5300; 1.5265; 1.5245









USDJPY

The pair is forming higher low at 118.57, 04 Sep low, following bounce that commenced yesterday and accelerated higher today. Fresh rally approaches psychological 120 barrier, reinforced by daily 10SMA, the first breakpoint, above which to open more significant 200SMA, which capped previous recovery attempt at 120.70. However, overall bearish structure sees limited upside action, ahead of fresh attempts lower, with rallies to be ideally capped under 200SMA. Only sustained break here, would sideline existing downside risk for stronger recovery action towards next breakpoint at 121.64, lower top of 31 Aug.

Res: 120.10; 120.77; 121.46; 121.64
Sup: 119.55; 119.15; 118.84; 118.57








AUDUSD
The pair extends above near-term consolidation range, formed above fresh 6 ½ low at 0.6906, signaling stronger action higher, after yesterday’s trading ended in tight Doji. Initial signal of recovery was given by hourly studies turning bullish, along with oversold daily technicals and RSI / slow Stochastic, reversing higher. Generating reversal signal, would spark stronger correction and sideline immediate downside risk, as overall picture remains firmly bearish. Look for extension above initial 0.7000 barrier, to open daily 10SMA at 0.7043, for confirmation of corrective phase. However, upside attempts should stay capped under falling daily 20SMA, currently at 0.7176 and only break here to open way for stronger correction.

Res: 0.7000; 0.7043; 0.7100; 0.7176
Sup: 0.6946; 0.6917; 0.6906; 0.6870

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

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

EURUSD

Bullish day for the euro yesterday rising 115 pips during the session. It opened at daily low 1.1015 and closed near the high 1.1130. This rise reversed 60% of the losses we saw over the previous few days. In today’s early trading we saw it continue going up to a high 1.1150. On the H1 Chart we have the double bottom reversal pattern at 1.1015 and prices above 55 moving average, confirming the reversal of the previous downtrend

Res: 1.1140, 1.1190, 1.1245
Sup: 1.1015, 1.0980, 1.0945




GBPUSD

Sideways action for the sterling, there was two failed attempts to break the important 1.57 barrier yesterday, low was at 1.5630. Early trading today went for a third attempt for 1.57 resistance and looks to have failed again. Regarding UK figures today we have Retail sales m/m with the expectation of 0.4% higher than the previous reading of -0.2%

Res: 1.5700, 1.5730, 1.5770
Sup: 1.5600, 1.5550, 1.5530




USDJPY

After trading sideways for the past 5 days, USDJPY tried to break this pattern with an attempt of breaking 123.80 support, it made a low of 123.66 but looks like it failed since it spent less than an hour below the support. Since then it went back up 40 pips and is currently trading near the daily high of 124. 123.80 was also the low it reached on the 12th of August

Res: 124.70, 125.25, 125.65
Sup: 123.80, 123.50, 123.00




AUDUSD

Again nothing to mention here, to understand what’s happening we have to have a look at the daily chart, which shows an overall downtrend that ended at a low of 0.7230 on the 31st of July. Since then it’s been sideways trading with another attempt at that support on the 12th of August. All the daily candles after that have had very tight ranges with no break of support or resistance levels

Res: 0.7390, 0.7410, 0.7450
Sup: 0.7280, 0.7235, 0.7210

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

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

EURUSD

Near-term structure remains positive, as the Euro closed Monday’s trading in another long bullish candle and above psychological 1.10 barrier. Bulls peaked at 1.1040, after cracking daily 100SMA at 1.1030 and being rejected just under 1.1047, Fibonacci 38.2% of 1.1434/1.0807 descend. Today’s pullback under 1.10 handle, is so far seen as corrective and looks to find footstep above daily 20SMA at 1.0946, to keep near-term bulls in play. Renewed attempts higher, need to clear 1.1047 barrier, to signal fresh weakness and expose breakpoint at 1.1128, 27 July lower top. Otherwise, downside risk would remain in play, as underlying trend remains bearish, with return below daily 20SMA, to soften near-term tone.

Res: 1.1011; 1.1030; 1.1040; 1.1065
Sup: 1.0959; 1.0946; 1.0924; 1.0890







GBPUSD

Cable returned above the mid-point of near-term range, after brief violation of range’s floor on Friday’s dip to 1.5420. Yesterday’s quick recovery that left long bullish daily candle, improved near-term technicals and neutralized downside risk, seen on test of daily cloud’s base on Friday. Fresh upside attempts look for extension above daily cloud top, currently at 1.5606, to re-expose key 1.5670 resistance zone and lower platform, break of which is needed to signal resumption of recovery phase from 1.5327, low of 08 July. Return and yesterday’s close above daily 20SMA, currently at 1.5571, gives positive signal, however, neutral mode of daily studies and contracting 20d Bollinger bands, suggest further sideways trading in the near-term.

Res: 1.5603; 1.5639; 1.5650; 1.5688
Sup: 1.5556; 1.5534; 1.5492; 1.5465






USDJPY

The pair regains bullish tone on near-term studies, after corrective pullback from upside rejection at 125 barrier, found support at 124.09, where dips were contained by ascending daily 20SMA. Yesterday’s long bullish daily candle and today’s fresh acceleration higher, look for break through 125 hurdle, to open way for final push towards key 125.84 barrier, 05 June peak. The notion is supported by strong bullish tone on daily studies, with daily 20SMA, underpinning the action. Initial support lies at 124.50, session low, ahead of pivotal 124.09, hourly base, reinforced by daily 20SMA.

Res: 125.05; 125.55; 125.84; 126.50
Sup: 124.50; 124.09; 123.50; 123.00






AUDUSD
Aussie fell sharply on action from China’s Central bank, leaving recovery tops above 0.74 barrier. Fresh weakness comes after Yesterday’s Doji that signaled hesitation above 0.74 and dipped so far near 0.73 support. Near-term studies are turning into negative mode, along with overall bearish structure, see increased downside risk. Firm break below 0.73 handle, to confirm double-top on 4-hour chart and return focus towards fresh 6-year lows at 0.7250/33. Broken daily 20SMA, offers immediate resistance at 0.7346, guarding recovery tops at 0.7426/35. Below 0.73 handle, initial support lies at 0.7260, ahead of spike low of 31 July at 0.7233 and short-term target at 0.7204, Fibonacci 76.4% of multi-year 0.6007/1.1079 rally.

Res: 0.7346; 0.7400; 0.7426; 0.7435
Sup: 0.7303; 0.7260; 0.7233; 0.7204

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

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

EURUSD

The Euro closed yesterday below former low of 30 July at 1.0891, leaving a long red candle that confirms further extension of the downleg from double upside rejection at 1.1121/28. Firm bearish tone on all timeframes, suggests final push towards short-term base and breakpoint at 1.08 zone, former lows of 27 Mat at 1.0818 and 20 July low at 1.0807. Break here to open way towards key med-term support levels at 1.0519/1.0461, lows of 12 Apr/15 Mar, the bottom of larger downtrend from 1.3992, May 2014 peak. Today’s fresh weakness confirms bearish stance. However, near-term studies are approaching oversold zone that may result in hesitation on approach to strong 108 zone supports. Initial resistance lies at 1.09 area, ahead of 1.0931, former hourly minor base, with extended rallies, expected to hold below pivotal barrier at 1.0986, yesterday’s high and near Fibonacci 61.8% retracement of 1.1121/1.0844 downleg.

Res: 1.0900; 1.0931; 1.0986; 1.1011
Sup: 1.0844; 1.0818; 1.0807; 1.0698







GBPUSD

Cable is losing traction in the near-term, as repeated upside rejections, where daily cloud top capped upside attempts and fresh weakness below of daily 20SMA, give initial negative signals. Repeated daily close in red, confirms the notion and moves the price into lower part of near-term 1.5464/1.5670 range. However, daily technicals hold neutral setup, together with contracting 20d Bollinger bands, suggesting prolonged sideways phase, with break of either boundary, required to establish fresh direction. Corrective rallies off fresh session low at 1.5524, should be ideally capped under yesterday’s high at 1.5632.

Res: 1.5570; 1.5600; 1.5632; 1.5670
Sup: 1.5524; 1.5488; 1.5464; 1.5449






USDJPY

The pair resumes the uptrend after brief consolidation at 124 zone and approaches pivotal resistance zone that lies between 124.36 and 124.72 highs at tops of short-term congestion. Overall bullish tone supports eventual break higher and resumption of larger uptrend from 120.69 low, with daily Tenkan-sen line containing dips at 123.77 and rising daily 20SMA underpinning the action at 123.70, guarding pivotal daily Ichimoku cloud top at 123.40. Near-term technicals are gaining bullish tone and favor further upside, however, extended consolidation ahead of final break higher, cannot be ruled out, as the pair approaches breakpoint zone and 4-hour studies are losing initial bullish momentum.

Res: 124.56; 124.72; 125.00; 125.50
Sup: 123.70; 123.40; 123.00; 122.48






AUDUSD
The pair corrects yesterday’s strong rally that peaked at 0.7426 and closed above daily 20SMA, leaving long bullish daily candle. Near-term technicals are gaining positive tone, but limited upside action is seen, while pivotal 0.7485/95 zone, daily Kijun-sen line / former lower platform stays intact. Pullback from fresh high at 0.7426, should be contained above 0.7324, Fibonacci 61.8% of 0.7261/0.7426 rally, to keep fresh near-term bulls in play. Overall picture, however, remains bearish and sees resumption of larger downtrend, after completion of current consolidation.

Res: 0.7400; 0.7426; 0.7447; 0.7495
Sup: 0.7324; 0.7306; 0.7258; 0.7233

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

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

EURUSD

The Euro remains at the back foot, following last Friday’s sharp reversal from recovery rejection at 1.1121 and yesterday’s close in red and below daily 20SMA that offers initial resistance at 1.0974, reinforced by base of thick 4-hour Ichimoku cloud. Psychological 1.10 barrier, also Fibonacci 38.2% of 1.1121/1.0931 pullback, comes next, with extended recovery attempts, expected to remain below daily cloud base at 1.1062. Weak near-term technicals and overall bearish structure, keep the downside in focus. Lows of yesterday and Friday at 1.0931/20, mark immediate supports, ahead of pivotal 1.0891, low of 30 July, loss of which to expose higher base and breakpoint at 1.08 zone.


Res: 1.0974; 1.1000; 1.1025; 1.1062
Sup: 1.0931; 1.0920; 1.0891; 1.0868







GBPUSD

Cable continues to trade in neutral near-term mode, with price action being for now supported by sideways-moving daily 20SMA that currently lies at 1.5556 and marks pivotal support. Upside attempts were so far limited, keeping rising daily cloud top at 1.5643 and cracked 1.5670 congestion tops zone, intact for now. Setup of daily indicators remains neutral, while daily MA’s are bullishly aligned, with upside-turning daily 20d Bollinger Bands, giving bullish signal. Initial range is defined by session low at 1.5569 and yesterday’s NY session high at 1.5622. Next barriers lay at 1.5643, yesterday’s high and 1.5670/88 breakpoint zone.

Res: 1.5643; 1.5670; 1.5698; 1.5729
Sup: 1.5569; 1.5547; 1.5526; 1.5488








USDJPY


The pair continues to consolidate at 124 zone, trading in narrow range and holding near-term studies in neutral mode. Overall picture, however, remains bullish and keeps focus at the upside. Renewed attack at last week’s high at 124.56 and sustained break higher, is required to confirm resumption of larger recovery rally from 120.39, 08 July low. Daily 10SMA offers initial support at 123.82, guarding more significant support zone at 123.49/40, daily Ichimoku cloud top / rising daily 20SMA and 123.00, higher low of the rally from 120.39, loss of which would weaken near-term tone.

Res: 124.09; 124.36; 124.56; 124.72
Sup: 123.82; 123.49; 123.40; 123.00








AUDUSD
Strong post-RBA acceleration probes above initial barriers at 0.7362/66, near-term consolidation top / falling daily 20SMA, leaving near-term base at 0.7350 zone that was cracked on last Friday’s spike to 0.7333, fresh 6-year low. Near-term studies are gaining bullish tone, signaling further correction, with 0.74 barrier seen next, ahead of 0.7485/95 breakpoint, daily Kijun-sen line and mid-July lower platform. Extended rallies should be ideally capped here, as overall picture maintains firm bearish tone and is expected to resume towards initial target at 0.7204 and psychological 0.7000 support, on completion of near-term consolidative phase.

Res: 0.7400; 0.7447; 0.7495; 0.7540
Sup: 0.7362; 0.7335; 0.7306; 0.7258

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