Windsor Brokers - Short Term Technical Analysis for Majors

[WindsorBrokers]

Windsor Brokers - Short Term Technical Analysis for Majors (11:15 GMT)

EURUSD
The pair holds positive near-term tone on two-day recovery from 1.1232 low, which came ticks away from pivotal 1.1348 barrier (daily Tenkan-sen line / 50% retracement of 1.1463/1.1232 downleg).
Overall bullish structure favors further upside, as reversed daily Slow Stochastic shows more room for bullish extension.
Sustained break above Tenkan-sen barrier to open 1.1375 (Fibo 61.8%) and psychological 1.1400 barrier. Daily close above 1.1375 is needed to shift focus towards key 1.1463 barrier (12 Apr fresh multi-month high).
Session low at 1.1300, marks initial support, with extended dips expected to find footstep above 1.1260 (daily Kijun-sen line.

Res: 1.1320; 1.1348; 1.1375; 1.1409
Sup: 1.1300; 1.1260; 1.1232; 1.1200

GBPUSD

Cable hit strong barrier at 1.4338 (daily Ichimoku cloud top), on today’s extension of two-day recovery from 1.4130 higher base.
Yesterday’s close in long bullish daily candle and above daily Kijun-sen line (1.4258), generated strong bullish signal for further recovery.
The pair met the first of two pivotal barriers at 1.4338/1.4345 (daily cloud top / 12 Apr high), with close above these barriers, required to bring short-term bulls fully in play and spark further recovery of larger 1.4512/1.4004 descend.
Broken daily Kijun-sen line at 1.4258, also Fibo 38.2% of 1.4130/1.4336 upleg, offers solid support, which is expected to ideally contain dips, while return below daily cloud base at 1.4219, will shift near-term bias lower.
Res: 1.4338; 1.4345; 1.4392; 1.4457
Sup: 1.4282; 1.4258; 1.4219; 1.4163

USDJPY

The pair trades in extended recovery from yesterday’s low at 107.82, as today’s fresh gains establish above 109 handle.
Near-term studies are in mixed setup, as hourlies hold in full bullish mode, while 4-hour technicals are neutral.
Bigger picture shows negative structure, with price action consolidating within 107.60/109.71 range and fresh recovery rallies, bringing the price in the upper side of near-term range.
Prolonged consolidation ahead of fresh weakness, is seen as favored near-term scenario, while sustained break above psychological 110.00 barrier, also Fibo 38.2% of 113.79/107.61 downleg, is required to signal formation of near-term base and stronger recovery.

Res: 109.71; 110.00; 110.65; 111.00
Sup: 108.73; 108.38; 107.82; 107.60

AUDUSD
Yesterday’s bullish Outside Day, generated strong positive signal for today’s fresh upside extension that peaked at 0.7800, posting fresh 10-month high, just ahead of near-term target at 0.7810 (FE 200% of extended wave C from 0.6972).
Firm bullish setup of daily studies favors further upside action, which now eyes 0.7900 (weekly Ichimoku cloud top), on extension above 0.7810 hurdle.
Meantime, correction on overbought near-term studies is under way and expected to find ideal support above 0.7735 (former top / Fibo 38.2% of 0.7629/0.7800 upleg).
Caution on overbought daily Slow Stochastic and Bearish Divergence on Momentum / MACD, which may trigger stronger correction on extension below 0.7682 (Fibo 38.2% of larger 0.7490/0.7800 upleg).

Res: 0.7800; 0.7810; 0.7864; 0.7900
Sup: 0.7735; 0.7720; 0.7682; 0.7608

 

[WindsorBrokers]

Windsor Brokers - Short Term Technical Analysis for Majors (09:15 GMT)

EURUSD
Reversal signal was generated on daily chart, following yesterday’s rally that left long bullish daily candle and peaked at 1.1445. Rally confirmed strong support at 1.1367 zone (Fibo 61.8% of 1.1213/1.1614 rally), which contained pullback off 1.1614 peak, for now.
Easing from 1.1445 is so far seen as corrective and should ideally stay above 1.1400 zone (psychological support / daily 30SMA), to keep fresh near-term bulls in play, for renewed attempts higher. Lift above initial barrier at 1.1445 will open next strong resistances at 1.1486 (50% retracement of 1.1614/1.1357 pullback, reinforced by daily Tenkan-sen line) and 1.1515 (Fibo 61.8% of 1.1614/1.1357 / weekly Ichimoku cloud top), break of which will confirm reversal.
Conversely, daily close below 1.1367 (Fibo 61.8% of 1.1213/1.1614 rally), will bring bears back to play and expose 1.1308 support (Fibo 76.4% retracement).

Res: 1.1427; 1.1445; 1.1486; 1.1515
Sup: 1.1396; 1.1378; 1.1357; 1.1308

GBPUSD

Cable left long-legged Doji candle yesterday, signaling hesitation to break above near-term congestion, despite posting fresh marginally higher high at 1.4486 on nearly 100-pips amplitude of yesterday’s trading.
Subsequent pullback that confirmed extended near-term directionless mode, keeps downside vulnerable and risk of possible renewed attack at key supports at 1.4373 (09 May correction low, reinforced by daily 30SMA) and 1.4320 (broken daily inverse H&S pattern neckline).
Daily technicals are mixed and see no clear direction while the price holds within 1.4373/1.4486 range.
Focus is on today’s BOE data, which are expected to influence pair’s near-term action. More dovish tone from BOE could put Cable under increased pressure, as loss of key 1.4373/20 supports, would open way towards key short-term support at 1.4004 (06 Apr low).
Alternative scenario requires clear break above 1.4486/91 barriers (congestion top / daily 10SMA), to signal recovery resumption towards 1.4524/70 (Fibo 38.2% / 50% of 1.4768/1.4373 downleg, respectively).

Res: 1.4453; 1.4486; 1.4524; 1.4570
Sup: 1.4393; 1.4373; 1.4320; 1.4296

USDJPY

The pair entered near-term congestion between 108.20 and 109.35, following repeated upside rejection at 108.35 hurdle (10/11 May highs). However, yesterday’s 100-pips fall, which left long red daily candle, so far did impact near-term bulls. Renewed attempts higher pressure initial barrier at 109.00 and show scope for fresh attack at 109.35 pivot (which lies just ahead of Fibo 61.8% of 111.87/105.53 downleg). Break here will expose psychological 110.00 barrier and 110.37 (Fibo 76.4%), in extension.
Conversely, weakness below congestion bottom at 108.20, will risk extension to 107.45 (daily tankan-sen) and signal lower top formation.
Setup of daily technicals is mixed and requires break out of near-term congestion, to signal fresh direction.

Res: 109.35; 110.00; 110.37; 110.88
Sup: 108.50; 108.20; 107.90; 107.60

AUDUSD
The pair returned to the lower side of near-term consolidation range and retested daily Ichimoku cloud base at 0.7320, which so far contained downleg from 0.7833 peak, following stall of recovery rally extension at 0.7400 yesterday. This signals extended consolidation as likely scenario, with risk remaining at the downside, on weak near-term technicals.
Daily chart studies maintain strong bearish tone (bearish setup of 10;20;30 SMA’s and indicators deeply in the negative territory). Reversal of daily Slow Stochastic from oversold zone, so far did show stronger impact on bears, keeping upside attempts limited for now.
Yesterday’s high at 0.7400 marks initial resistance, followed by 0.7424 (Fibo 23.6% of 0.7833/0.7298 downleg) and 0.7441 (falling daily 10SMA), which mark initial pivots.
However, regain of minimum 0.7500 (Fibo 38.2% of 0.7833/0.7298 downleg), is needed to signal stronger upside action.
Key supports lay at 0.7320/0.7298, loss of which could trigger bearish acceleration towards0.7259 (200SMA) and 0.7211 (Fibo 61.8% of broader 0.6826/0.7833 ascend).

Res: 0.7377; 0.7400; 0.7441; 0.7500
Sup: 0.7320; 0.7298; 0.7259; 0.7211

 

[WindsorBrokers]

Windsor Brokers - Short Term Technical Analysis for Majors (10:00 GMT)

EURUSD
Strong bearish signal was generated by yesterday’s long red daily candle. Weakness cracked daily Ichimoku cloud base at 1.1142 and hit fresh low at 1.1131. Near-term action is in narrow consolidation mode under initial barrier at 1.1162 (daily 100SMA).
Focus is at 1.1123 (Fibo 61.8% of 1.0820/1.1614 rally) and 1.1101 (sideways –moving 200SMA).
Close below daily cloud base is needed to confirm strong bearish stance.
Above 100SMA, next barrier lies at 1.1178 (former low / falling 5SMA), followed by top of previous consolidation at 1.1241, reinforced by descending 10SMA, which marks upside breakpoint.


Res: 1.1162; 1.1178; 1.1241; 1.1281
Sup: 1.1131; 1.1123; 1.1101; 1.1056

GBPUSD

Cable probes above former high of 19 May at 1.4660, after yesterday’s strong bullish acceleration fully retraced 1.4660/1.4440 pullback.
Strong bullish sentiment is in play and looks for sustained break above 1.4660, to retest key short-term barrier and recovery peak of 03 May at 1.4768, reinforced by descending 200SMA at 1.4781
Daily technicals maintain strong bullish setup and support the notion.
Session low at 1.4599 marks initial support, ahead of rising 5SMA at 1.4572. Bullish cross of 10/20SMA is forming at 1.4512 and underpinning bullish action.

Res: 1.4691; 1.4768; 1.4781; 1.4800
Sup: 1.4599; 1.4572; 1.4512; 1.4464

USDJPY

The pair fully reversed Monday’s strong fall that bottomed at 109.09, on yesterday’s bullish acceleration which extends today. Fresh strength penetrated again daily cloud base, which now acts as initial support at 109.80. Close above cloud base will confirm renewed bulls for retest of 110.57 (last Friday’s high) and signal resumption of recovery leg from 105.53 (low of 03 May).
Rising daily Tenkan-sen at 109.51 is expected to contain corrective dips.

Res: 110.37; 110.57; 111.00; 111.87
Sup: 108.80; 109.51; 109.09; 108.64

AUDUSD
Aussie closed in red yesterday after triple-Doji, signaling resumption of larger downtrend from 0.7833. The pair posted fresh nearly three-month low at 0.7143, however, long tail of yesterday’s candle signal hesitation.
Extended consolidation is expected to precede fresh bearish action towards targets at 0.7106/63 (29 Feb higher low / Fibo 76.4% retracement of 0.6826/0.7833 ascend).
Yesterday’s high at 0.7226 marks good resistance, with extended upticks to stay below 10/200SMA’s Death Cross that formed at 0.7253 and generated strong bearish signal.

Res: 0.7226; 0.7253; 0.7298; 0.7364;
Sup: 0.7171; 0.7143; 0.7106; 0.7063