Short Term Technical Analysis for Majors (07:00 GMT)

[WindsorBrokers]

EURUSD

The Euro has established positive tone on hourly chart, consolidating 1.3704/1.3807 recovery rally, despite failure to clear important 1.38 barrier, where 4-hour 55SMA capped for now. However, prevailing negative tone on 4-hour chart requires caution, as repeated upside rejection at 1.38 barrier, Fibonacci 38.2% retracement of 1.3965/1.3704, would risk fresh leg lower and retest near-term base and daily cloud top at 1.37 zone. Break here to resume downtrend off 1.3965, otherwise, sustained break above 1.38 hurdle would open 1.3835, 50% retracement / daily 20SMA and pivotal 1.3874, 24 Mar peak / near Fibonacci 61.8% retracement, above which to confirm formation of higher low at 1.3704 and shift focus towards 1.3946 and key 1.3965 resistance, peak of 13 Mar.

Res: 1.3807; 1.3845; 1.3874; 1.3900
Sup: 1.3760; 1.3721; 1.3700; 1.3662

GBPUSD

Cable continues to trend higher and broke above initial 1.6665 barrier to test 1.6685, Fibonacci 61.8% retracement of 1.6821/1.6464 descend so far. Hourly studies are positive, while overextended 4-hour conditions and yesterday’s Doji candle, warn of possible stall. Sustained break above 1.6716/33, 13 Mar high / bear-trendline off 1.6821, is required to confirm bullish resumption and open 1.6784, 07 Mar peak and key 1.6821 barrier, 17 Feb year-to-date high. Corrective dips should be contained above 1.66 handle, Fibonacci 38.2% retracement of 1.6464/1.6685 upleg, reinforced by 4-hour 55SMA, to keep bulls intact.

Res: 1.6685; 1.6700; 1.6716; 1.6733
Sup: 1.6655; 1.6638; 1.6600; 1.6574

USDJPY

The pair remains supported and aims towards key near-term barrier at 103.75, 07 Mar peak, to fully retrace 103.75/101.19 descend, after the price stabilizes above psychological 103 barrier, also daily cloud top. Near-term technicals are positive, however, 4-hour RSI enters overbought zone and may delay bulls. Neutral daily studies require break above 103.75, two-month congestion top, to bring fresh bulls in play. Initial supports lay at 103.00/102.88, with higher platform and Fibonacci 38.2% retracement of 101.71/103.42 upleg, offering solid support and seen as ideal reversal point for stronger dips.

Res: 103.42; 103.75; 104.00; 104.32
Sup: 103.00; 102.77; 102.67; 102.46

AUDUSD

The pair maintains positive near-term tone and consolidates after cracking psychological 0.9300 barrier. Near-term corrective action was contained above strong support at 0.9200, Fibonacci 38.2% of 0.9047/0.9294 upleg, keeping near-term bulls firmly in play for test of immediate targets at 0.9314, Fibonacci 100% expansion of the third wave from 0.8894 and 0.9336, Fibonacci 61.8% retracement of 0.9755/0.8658 descend, break of which to confirm wave principles and open 0.9446, 19/20 Now 2013 peaks and 0.9477, Fibonacci 138.2% expansion. Only loss of 0.9200 base would delay bulls and expose strong supports at 0.9140 zone, previous peaks and 200SMA.

Res: 0.9302; 0.9314; 0.9336; 0.9400
Sup: 0.9254; 0.9215; 0.9200; 0.9170

GOLD

Spot Gold remains under strong pressure and resumes downtrend off 1392 peak, interrupted by 1285/1298 consolidative phase. With psychological 1300 barrier, also 200SMA, being established as strong resistance, fresh weakness through previous low at 1285, approaches dynamic support at 1273, daily 100SMA, with 1262, Fibonacci 61.8% retracement of 1182/1392 ascend, coming in focus. Overall bearish tone keeps the downside favored, with consolidative /corrective action on oversold studies, seen preceding fresh weakness. Lower platform at 1300 is expected to limit upside attempts, while only sustained break here would put immediate bears on hold.

Res: 1290; 1300; 1306; 1316
Sup: 1277; 1273; 1262; 1252



SILVER

Spot Silver trades in extended consolidative phase above fresh low at 19.56, posted on 27 Mar, with corrective action being so far capped under psychological 20.00 barrier. Yesterday’s rejection at 20.00 hurdle and fresh slide below the range mid-point, keeps near-term studies in negative mode and maintains downside risk. Penetration through 19.56 handle to open interim supports at 19.30/11, 08 Jan 2014 / 19 Dec 2013 lows, for extension towards key support at 18.99, 30 Jan low, return to which to fully retrace 18.99/22/15 ascend. Only sustained break above 20.00 hurdle would sideline immediate bears and allow for stronger corrective action towards 201.19, 25 Mar high and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend.

Res: 19.91; 20.00; 20.20; 20.40
Sup: 19.62; 19.56; 19.30; 19.11

 

[riya.bajaj.9256]

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[WindsorBrokers]

EURUSD

The Euro holds positive near-term tone off fresh low at strong 1.3789 support, as the price stabilizes above 1.38 higher base, supported by daily 20SMA / Tenkan-sen line. Recovery attempts are so far limited at initial 1.3850 barrier, also 50% retracement of 1.3904/1.3789 fall and ahead of more significant 1.3860, weekly highs / last Friday’s low and Fibonacci 61.8% retracement of 1.3904/1.3789. Sustained break here that also requires to fill Monday’s gap, is required to bring bulls fully in play for eventual attempt at 1.3904, 11 Apr high and possible attack at key 1.3965 high. Hourly structure is positive, while neutral tone prevails on 4-hour studies. Break above initial barriers and near-term congestion tops is required to revive 4-hour bulls and avert risk of re-visiting 1.3800 and more important 1.3789, loss of which will be bearish.

Res: 1.3850; 1.3860; 1.3904; 1.3946
Sup: 1.3824; 1.3800; 1.3789; 1.3760

GBPUSD

Cable eventually broke above multi-month congestion tops at 1.6820 and trades at levels last time seen in 2009. However, marginal break higher requires today’s close above 1.6820, to confirm bullish resumption of the bull-leg from 1.4812, July 2013 low and open 1.6877, November 2009 peak and 1.6900 in extension. Sustained break higher is required to shift focus towards psychological 1.7000 barrier and key longer-term resistance at 1.7041, August 2009 peak. Overall picture remains bullish and keeps the upside favored, with corrective dips to face initial support at 1.6780 higher base. Key near-term support lies at 1.67 base and only break here would sideline near-term bulls.

Res: 1.6836; 1.6877; 1.6900; 1.6950
Sup: 1.6780; 1.6768; 1.6750; 1.6725

USDJPY

Acceleration above near-term congestion top at 102.00 failed to clear 102.38, Fibonacci 38.2% retracement of 104.11/101.31 descend and daily Ichimoku cloud top, as rally stalled here. Subsequent return to the levels below 102 handle, now support, retraced 50% of larger 100.74/102.35 ascend, would signal false break and risk further weakness, if the price slides below 101.70, Fibonacci 61.8% retracement / bull-trendline drawn off 101.31 low. Negative hourly studies support such scenario. However, positive tone, persisting on 4-hour chart, would keep the upside favored if the price stabilizes above 102 handle and renewed attempt higher breaks above 102.38, minimum requirement to confirm bear-term base at 101.31 and allow for stronger recovery. Strong resistance and breakpoint lies at 103 zone, Fibonacci 61.8% retracement of 104.11/101.31 descend / daily Ichimoku cloud top, where possible stronger rallies should be capped , as larger picture bears remain in play.

Res: 102.38; 102.71; 103.00; 103.29
Sup: 101.85; 101.70; 101.50; 101.31

AUDUSD

The pair trades in near-term consolidative mode after corrective attempt off fresh low at 0.9331, 50% retracement of 0.9204/0.9460 upleg, stays capped under psychological 0.9400 barrier. Near-term technicals are neutral, with break of 0.94 barrier required to confirm higher base and re-open fresh high at 0.9460. Otherwise, the downside would remain at risk in the near-term, with loss of 0.9331 temporary support, expected to trigger fresh extension of corrective pullback from 0.9460, towards 0.9300 breakpoint, Fibonacci 61.8% retracement / previous peaks of 28 Mar / 01 Apr, loss of which to sideline near-term bulls in favor of stronger correction.

Res: 0.9400; 0.9424; 0.9460; 0.9500
Sup: 0.9351; 0.9331; 0.9300; 0.9253

GOLD

Spot Gold trades in neutral near-term tone, with recovery attempts off fresh low at 1286, being capped at 1306, as the price failed to sustain gains above psychological 1300 barrier. Near-term technicals remain weak and keep the downside favored for eventual push to 1277, 01 Apr low, to full retrace 1277/1330 recovery phase. Break lower to confirm lower top formation at 1330 and spark fresh extension of larger downmove from 1392, 17 Mar peak and expose 1262, Fibonacci 61.8% retracement of larger 1182/1392 rally. Daily studies are negative and keep the downside risk in play, while only sustained break and weekly close above 1300 support, also 200SMA, would ease immediate bear-pressure.

Res: 1308; 1313; 1319; 1324
Sup: 1293; 1286; 1277; 1262





SILVER

Spot Silver remains directionless after unsuccessful attempts at the both sides of near-term range. Hourly studies are flat, however, positive tone persists on 4-hour chart that keeps hopes of renewed attempts higher, where 20.37, 10 Apr rally peak and 20.40, Fibonacci 38.2% retracement of 21.77/19.56 descend, offer initial barriers and pivotal points. Sustained break here is required to signal stronger recovery. Otherwise, downside will remain at risk, as larger picture studies remain bearish and risk further weakness for completion of 18.99/22.15 ascend, with the notion being supported by triple MA’s bear-crosses, 20/200SMA’s death-cross and 20/55 / 20/100 SMA’s bearish crosses.

Res: 20.12; 20.19; 20.37; 20.40
Sup: 19.90; 19.77; 19.60; 19.56

 

[WindsorBrokers]

EUR/USD

After yesterday’s drop and a test of 1.3780 intermediate support level was made, the single currency managed to close near previous highs and broke even higher reaching as high as 1.3888 so far. With a clear break of 1.3860, and demand at 1.3780, the single currency is expected to resume the uptrend for targets at 1.3905 (11th April high) and next 1.3947 and 1.3970 zone.
On the downside, support is found at 1.3869, 1.3854 and 1.3827 a break below 1.3854 would offer sellers a chance to see 1.3780 zone in case of overbought conditions.


Res: 1.3905, 1.3947, 1.3970, 1.4025
Sup: 1.3869, 1.3854, 1.3827, 1.3780

GBP/USD


Cable was supported yesterday at 1.6805, 5 pips ahead of 1.6800 support level, and managed to reach as high as 1.6900 during yesterday’s session. Remaining on an uptrend many supports are found at 1.6875, 1.6860, 1.6845 and at 1.6822 at the point where the rise started during yesterday’s session. The area of 1.6845-60 might offer sellers a boost if broken. On the other hand upside target is found at 1.7040 (2009 ultimate year high).

Res: 1.6925, 1.6960, 1.7000, 1.7040
Sup: 1.6875, 1.6860, 1.6845, 1.6820

USD/JPY


Resistance at 102.70 managed to hold the pair below and found sellers reaching as low as 102.03 yesterday. Only resistance before 102.70 is found at 102.36 (a 50% Fibo level of 102.77 to 102.03) and if broken a retest of 102.70 will be expected.
Below targets are found below 102.00 at 101.86, 101.50 and 101.20


Res: 102.36, 102.70, 103.00, 103.30
Sup: 102.00, 101.86, 101.50, 101.20

GOLD



Spot Gold found resistance yesterday below 1299 resistance level, it was tested twice and reached as high as 1297. Support level at 1286 was broken for a further test of lower borders at 1276 and even lower towards 1268, 1256.
A break above 1299 would open 1307 intermediate resistance where it is expected to reverse to an uptrend if broken. Another small resistance is found at 1290-92 zone, where couple of peaks appeared today.


Res: 1292, 1299, 1307, 1320
Sup: 1276, 1268, 1256, 1238

 

[WindsorBrokers]

EURUSD

The Euro fell to 1.3750 zone, ending the week in red and erased all gains of last week, following false break above 1.39 resistance zone and upside rejection on approach to 1.40 barrier. Loss of 1.38, round-figure / trendline support and 1.3780, previous range floor, significantly weakened near-term structure and increased risk of double-top formation, in case of further weakness that requires loss of 1.3720, daily cloud base and 1.3670, 04 Apr higher low, to be confirmed. Bears may be delayed for corrective action, as near-term studies are oversold, with initial resistance at psychological 1.38 barrier, also near former range floor and 1.3840 lower top / near Fibonacci 38.2% retracement of 1.3992/1.3744 descend. Any stronger rallies should be capped under 1.39, previous strong resistance, to keep bears in play.


Res: 1.3800; 1.3840; 1.3868; 1.3900
Sup: 1.3744; 1.3720; 1.3700, 1.3670

GBPUSD

Cable stalled on approach to psychological 1.7000 barrier and pulled back to 1.6830 zone, triggering daily and weekly close in red and signaling possible stronger pullback in larger bull-trend. Reversal was so far contained by daily 20SMA and just above previous peaks, keeping overall bulls so far intact and marking current easing a technical pullback, before fresh attempts higher. On the other side, negative near-term studies and daily indicators in descending mode from overbought territory, keep the downside risk in play. Confirmation of negative scenario, however, requires clear break below higher platform at 1.6760 zone, to confirm. Otherwise, the upside targets will remain in near-term focus, with regain of 1.69 handle, required to confirm bulls back in play.


Res: 1.6900; 1.6918; 1.6973; 1.6995
Sup: 1.6800; 1.6760; 1.6730; 1.6700

USDJPY

The pair closed below 102 barrier, marking weekly close in negative tone, with daily indicators in negative zone, maintaining downside risk on the larger picture. On the other side, lower timeframes studies hold neutral stance, after near-term price action stabilized above 101.20, short-term base, averting immediate risk of violation of strong 101.20 / 100.74 support, in favor of extended consolidation. Gains so far hold below 102 resistance, keeping sideways mode in play, despite improved hourly studies. Only sustained break above 102 barrier and lower top at 102.18, to signal double-bottom formation and fresh recovery attempt.


Res: 102.00; 102.18; 102.40; 102.78
Sup: 101.42; 101.31; 101.20; 101.00

AUDUSD

The Aussie holds positive near-term tone against the greenback, as bounce from 0.92 base retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern is nearly completed, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s. Break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next. Conversely, break below trendline support 0.9300 to delay, while only loss of 0.92 handle will be bearish


Res: 0.9377; 0.9393; 0.9424; 0.9460
Sup: 0.9346; 0.9317; 0.9300; 0.9250

 

[WindsorBrokers]

EURUSD

The Euro holds negative near-term tone, following last week’s sharp fall and hovers above fresh lows, in a narrow consolidation, capped so far under initial 1.38 resistance. Negative hourly studies and 4-hour indicators probing below the midlines, maintain near-term pressure and see risk of penetration of recent lows, reinforced by 100SMA, to open psychological 1.37 support and key 1.3670 higher low, reinforced by broken bear-trendline off 1.3965 previous peak, in extension. Loss of the latter would further weaken the structure, as formation of double-top pattern may trigger stronger pullback and put larger bulls on hold. Daily indicators’ attempts below their midlines support the notion. Alternative scenario requires break above initial 1.38 barrier and 1.3940 lower top / Fibonacci 38.2% retracement of 1.3992/1.3744 fall, to ease immediate bear pressure, while regain of 1.39 handle is required to re-focus the upper targets.


Res: 1.3773; 1.3800; 1.3840; 1.3868
Sup: 1.3744; 1.3720; 1.3700, 1.3670

GBPUSD

Cable remains at the back foot in the near term, after recovery attempt from fresh low at 1.6829, run out of steam at initial 1.69 barrier. Near-term technicals are negatively aligned and keep the downside at risk, while the price holds below 1.69 handle. Fresh weakness through 1.6821, previous high and psychological 1.68 support, also near 38.2% retracement of 1.6464/.6995 ascend, is required to confirm reversal and open 1.6760 higher platform and 1.6730, rally’s mid-point. Conversely, sustained break above 1.69 barrier, would bring bulls fully in play and signal an end of near-term corrective phase, for fresh attempt towards psychological 1.7000 resistance.


Res: 1.6900; 1.6932; 1.6973; 1.6995
Sup: 1.6861; 1.6829; 1.6800; 1.6760

USDJPY

The pair regained strength and eventually broke through 102 barrier, extending near-term recovery off 101.40 higher base. Neat-term studies turned positive and keep further upside favored for now, with next targets laying at 102.70, mid-point of 104.11/101.31 fall/ daily cloud top and 103, range top. Clear break of the latter is required to break above 101.20/103 congestion and resume recovery. Otherwise, further range trading would likely near-term scenario. However, still negative daily studies keep the downside at risk, as long as the price remains below 103 handle.

Res: 102.40; 102.70; 103.00; 103.38
Sup: 101.42; 101.84; 101.60; 101.45

AUDUSD

The pair maintains positive near-term tone and consolidates under fresh highs near 0.94 barrier. Recovery rally from 0.92 base, so far retraced nearly 76.4% of the pullback from 0.9460 to 0.9204. Daily cup-and-holder pattern hasn’t been completed yet, with clear break above 0.9380 required to confirm and open way for final push towards key 0.9460 barrier, 10 Apr high. The overall picture remains bullish, as near-term price action is underpinned by double bull-cross at 0.9150 zone; 20/200 and 55/200SMA’s, however, further hesitation ahead of 0.94 hurdle cannot be ruled out, as hourly studies are losing traction, with loss of psychological / trendline support at 0.93 to further delay bulls, while only loss of 0.92 handle would revive bears. Conversely, break above 0.9460 top to confirm bullish resumption and open psychological 0.95 barrier next.


Res: 0.9365; 0.9384; 0.9393; 0.9424
Sup: 0.9317; 0.9300; 0.9250; 0.9200

 

[WindsorBrokers]

EURUSD

The Euro eventually broke below breakpoint at 1.3670, ending near-term consolidative phase and commencing fresh leg lower. The price spiked lower to 1.3633 so far, ticks away from 200SMA, with subsequent bounce being capped below 1.37 barrier, former consolidation floor. This is seen as initial signal of an end of two-month congestion and fresh bear-phase that also confirms double-top formation which could trigger more significant downside, as the price action establishes below 1.37 handle. Break below 1.3626, 200SMA, to confirm bearish resumption towards psychological 1.36 support, also Fibonacci 76.4% of larger rally from 1.3475 to 1.3992, lowest and the highest price seen in 2014 so far, with 1.3561, Feb lower top, seen in extension. Correction top at 1.3687, offers initial resistance, reinforced by hourly 55SMA, and should, along with 1.37 hurdle, ideally cap the upside attempts. Only break above previous range tops at 1.3730 zone would sideline immediate bears for fresh rally towards strong 1.3773 barrier, 12/13 / 05 lower tops / Fibonacci 38.2% of 1.3992/1.3633 descend

Res: 1.3725; 1.3735; 1.3779; 1.3800
Sup: 1.3647; 1.3633; 1.3600; 1.3561

GBPUSD

Cable maintains overall positive tone, as rally from 1.6730, correction low, probed above 1.69 barrier, with 1.6919, the highest seen so far. Near-term congestion fresh high is under way, with the downside being contained at 1.6855, near 38.2% retracement of 1.6730/1.6919 upleg and price action underpinned by 4-hour 20/55SMA bullish cross. While the latter levels stay intact, fresh upside attempts will remain in play, with the price’s move above 1.6919 and firm break higher, required to resume near-term uptrend from 1.6730 and open Fibonacci 76.4% at 1.6932, ahead of lower top at 1.6973 and psychological 1.7000 barrier in focus. Alternatively, slide below 1.6850 support zone, would delay bulls.


Res: 1.6902; 1.6919; 1.6932; 1.6973
Sup: 1.6874; 1.6855; 1.6825; 1.6800

USDJPY

The pair maintains overall negative tone, as weakness off 102.35, recovery rejection level, broke below strong supports and short-term base at 101.40/20 zone as well as psychological 101 support. Subsequent bounce to the levels that mark 61.8% retracement of 102.32/100.81 downleg, signal further hesitation at this important support zone. However, the structure is negative overall and will keep risk towards the downside, as long as the price holds below 102 barrier, with clear break below 101.20 base, required to confirm. Near-term target lies at 100.74, 04 Feb low, loss of which to signal bearish resumption of larger downtrend from 105.43, 02 Jan year-to-date high and focus psychological 100 support. Extension of the current correction above 102 handle, to delay bears for further sideways trading, while only break above the larger range top at 103, would provide relief and open way for stronger recovery.

Res: 101.75; 102.00; 102.11; 102.35
Sup: 101.60; 101.34; 101.10; 100.81

AUDUSD

The pair maintains negative near-term tone, with fresh weakness aiming towards 0.9200 support, as the price fell ticks away from this support. Overall picture is negative and looks for further weakness and full retracement of 0.9201/ 0.9407 ascend. Support at 0.92 zone is seen as a breakpoint and in case of extension lower, would signal an end of larger consolidation under fresh peak at 0.9265, 10 Apr high and would trigger stronger correction of larger 0.8658/ 0.9460 uptrend. Next supports lie at 0.9172, 200SMA, ahead of 0.9154 Fibonacci 38.2% retracement and 55/200SMA golden cross, with break here required to confirm bears fully in play. Current correction on overextended conditions of lower timeframes studies, delays immediate bears for corrective action, with 0.93 barrier, previous support and Fibonacci 38.2% of 0.9407/0.9215 descend, offering the first strong resistance, ahead of 0.9330, Fibonacci 61.8% and previous range floor, where rallies should be limited.

Res: 0.9272; 0.9288; 0.9300; 0.9330
Sup: 0.9255; 0.9207; 0.9200; 0.9172

 

[WindsorBrokers]

EURUSD

The Euro’s near term price action is at the back foot after recovery attempt stalled at 1.3649, where 55SMA capped and fresh easing re-tested levels below 1.36 handle, with consolidation under way. Negative near term tone keeps the downside at risk, despite 1.3585 low so far proving as solid support. To avert immediate bearish risk, break above 1.3649 high is required to signal hourly double-bottom formation and trigger stronger recovery towards the next pivot at 1.3667 and possibly retest of key 1.3730 resistance and breakpoint, above which to bring bulls fully in play. Otherwise, 1.3561, 12 Feb low and 1.3519, Fibonacci 38.2% of larger 1.2754.1.3992 rally, would remain as near-term targets, once the price loses 1.3585 temporary base.

Res: 1.3635; 1.3649; 1.3667; 1.3687
Sup: 1.3585; 1.3561; 1.3519; 1.3500

GBPUSD

Cable remains under pressure, with near-term price action in consolidative mode, after corrective attempt off fresh low at 1.6691, ran out of steam at 1.6776, Fibonacci 38.2% retracement of 1.6880/1.6691 descend, reinforced by 55SMA. Failure to break here and psychological 1.6800 barrier, which would open bear-trendline resistance at 1.6850, would fail to complete Morning Star pattern formation and risk fresh weakness as hourly studies are neutral , while larger timeframes studies maintain negative tone. Push below 1.6691 to confirm bearish resumption and open 1.6667, Fibonacci 61.8% / 100SMA next and psychological 1.66 support in extension.


Res: 1.6760; 1.6776; 1.6800; 1.6835
Sup: 1.6723; 1.6703; 1.6691; 1.6667

USDJPY

The pair eventually broke above 102.13 and 102.35 barriers, on a fresh strength that so far tested 76.4% retracement of 103.01/100.81 descend at 102.46. This opens way for final push towards the next pivot at 103 zone, also short-term range top. However, corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally, reinforced by 55SMA and should contain corrective dips. Otherwise, weakness below here and yesterday’s low/ daily 20Sma at 101.74, will be bearish.

Res: 102.49; 102.78; 103.01; 103.75
Sup: 102.13; 102.00; 101.74; 101.41

AUDUSD

The pair came under pressure and fell to 0.9228, ahead of corrective bounce. However, near-term structure remains weak and would risk fresh weakness and return to 0.92 base, once corrective phase is over. To maintain negative scenario, lower to should be left under 0.9291, Fibonacci 61.8% of 0.9330/0.9228 descend and psychological 0.93 barrier. Break below 0.92 handle to open 0.9179, 200SMA and 0.9154, daily cloud base in extension. Conversely regain of 0.93 barrier would delay, while rally through 0.9330 is required to provide relief and signal an extension of corrective phase off 0.92 base.

Res: 0.9279; 0.9291; 0.9312; 0.9330
Sup: 0.9259; 0.9228; 0.9207; 0.9177

 

[WindsorBrokers]

EURUSD

The Euro is directionless in the near-term, with price action moving within 1.3585/1.3650 range, consolidating bear-leg from 1.3992, 08 May peak. Overall tone remains negative and sees further downside favored, while neutral near-term studies maintain current sideways mode. Immediate support and range floor lies at 1.3585, loss of which to open fresh weakness and expose targets at 1.3561, 12 Feb low and 1.3519, Fibonacci 38.2% of 1.2754.1.3992 rally. On the upside, 200SMA reinforces range ceiling, with clear break here required to establish an upside direction towards psychological 1.37 barrier and breakpoint at 1.3733 lower base / 100SMA.

Res: 1.3650; 1.3667; 1.3700; 1.3733
Sup: 1.3585; 1.3561; 1.3519; 1.3500

GBPUSD

Cable remains under pressure, with near-term recovery action being limited at 1.6780 zone by descending 55 SMA and unable to regain 1.68 handle. Failure to break here, triggers fresh weakness and re-focuses near-term base at 1.6700/1.6680 zone, fresh lows and daily cloud base, below which to resume larger descend from 1.6995 peak and expose 1.6667, Fibonacci 61.8% of 1.6464/1.6995/ 100SMA next and psychological 1.66 support in extension. Only sustain break above 1.68 handle would revive bulls for attempt at bear-trendline resistance at 1.6850.

Res: 1.6723; 1.6780; 1.6800; 1.6835
Sup: 1.6703; 1.6691; 1.6667; 1.6600

USDJPY

The pair remains supported and heads higher after break above 102.13 and 102.35 barriers, on a fresh strength towards the next target and pivotal barrier at 103 zone. Corrective action is likely to precede fresh attempts higher as near-term studies are overbought. Ideal support lies at 102.25 zone, Fibonacci 38.2% retracement of 101.41/102.46 rally / higher platform and should ideally contain corrective dips. Further easing below here and 102 handle, would sideline near-term bulls and put aside fresh attempts above 103 barrier.

Res: 102.78; 103.01; 103.75; 104.11
Sup: 102.47; 102.26; 102.10; 101.93

AUDUSD

The pair came recovered some looses on a fall to 0.9228, however, remains under pressure, as studies are weak on all timeframes. Failure to extend above recent congestion top at 0.93 zone, would keep the downside at risk of fresh attempt at strong 0.92 base and further weakness on a break here. Conversely, lift above 0.93 barrier to confirm higher low at 0.9228 for fresh attempt higher and test of the next breakpoint at 0.9330, 30 May high.

Res: 0.9279; 0.9296; 0.9312; 0.9330
Sup: 0.9243; 0.9228; 0.9207; 0.9177

 

[aaroncody]

Great I think there is a huge difference in short term analysis while comparing.

 

[WindsorBrokers]

EURUSD

The Euro has ended 10-day recovery phase after yesterday’s rally eventually left 1.36 zone and probed above 1.3642, 19 June peak. Final push is expected to extended corrective leg off 1.35 base and regain key 1.3676 barrier, 06 June peak. Completion of 1.3676/1.35 bear-phase is required to signal stronger reversal and correction of 1.3992/ 1.3500 descend. Positive tone, prevailing on lower timeframes studies, supports the notion. Break below immediate support and minor higher base at 1.3636 will face strong support at 1.36 higher base / 50% retracement of 1.3563/1.3650, where dips should be contained, to keep near-term positive structure intact.
Res: 1.3650; 1.3676; 1.3700; 1.3730
Sup: 1.3600; 1.3582; 1.3572; 1.3563

GBPUSD

Cable consolidates the pullback off 1.7061 peak which broke below psychological 1.70 support and found temporary support at 1.6950. Near-term studies hold neutral tone as the price moves within 50-pips range and recovery so far being capped at 1.70, now reverted to resistance and the notion being confirmed by yesterday’s Doji candle. Unless the price clearly breaks above 1.70 hurdle and confirm higher low formation, ahead of renewed attempt higher, risk would exist for fresh weakness through 1.6950, towards downside break points at 1.6920 and 1.6900, loss of which to trigger stronger pullback.

Res: 1.7000; 1.7029; 1.7061; 1.7100
Sup: 1.6950; 1.6920; 1.6900; 1.6836

USDJPY

The pair remains at the back foot and broke below near-term bases at 101.80/70, to eventually test 101.59, 12 June low/ 200SMA. Weak near-term studies see risk of full retracement of 101.41/ 102.78 upleg, with extension below 102.41 handle, expected to open short-term range floor levels at 101.81/74 for retest. Weakening daily studies support the notion, while only regain of 102.15/18 highs would ease immediate bear pressure.

Res: 101.86; 102.00; 102.18; 102.35
Sup: 101.59; 101.41; 101.10; 101.00

AUDUSD

The pair bounces off fresh low at 0.9352, where pullback from 0.9443 peak found footstep at 38.2% of 0.9209/0.9443 ascend. Regain of 0.94 handle firmed hourly studies for possible fresh attempt towards 0.9443, in case the price action sustains break. Also, 4-hour studies are attempting at their midlines and being supportive for further upside action, while price floats above 0.94 handle. Otherwise risk of return to initial 0.9350 support, also trendline support and extension to 0.932 higher base, would remain in play while the price unable to clearly break 0.94 zone . Overall picture, however, remains bullish and sees scope for further upside after completion of near-term consolidative phase off 0.9443 peak.

Res: 0.9413; 0.9429; 0.9460; 0.9500
Sup: 0.9393; 0.9350; 0.9320; 0.9300

 

[WindsorBrokers]

EURUSD

The Euro failed to sustain gains off 1.3585 base, after recovery rally stalled at 1.3639 and subsequent easing returned to 1.36 support zone. With near-term studies losing traction, downside risk increases, as loss of 1.36 handle to expose key supports at 1.3585 higher base and low of 07 July at 1.3574. Completion of 1.3574/1.3639 corrective phase to signal resumption of larger descends off 1.3699, 01 July peak and possibly open key short-term support and base at 1.35 zone. On the other side, ability to hold above 1.3585, would signal prolonged consolidation, while establishment of an upside direction requires fresh stretch and regain of 1.3639/49 barriers.

Res: 1.3625; 1.3639; 1.3649; 1.3699
Sup: 1.3600; 1.3585; 1.3574; 1.3559

GBPUSD

Cable lost bullish momentum and penetrated below initial 1.71 support and previous consolidation floor. This signals stronger corrective action, off fresh high at 1.7175, with previous top at 1.7061, being tested so far, as the pair aims towards the next target and psychological support at 1.7000. Negative near-term technicals support further easing, as reversal pattern is forming on a daily chart. Corrective rallies to face initial resistances at 1.7088/1.7100 zone, with extended rallies, to be contained by 1.7150 zone.

Res: 1.7088; 1.7100; 1.7120; 1.7134
Sup: 1.7049; 1.7000; 1.6950; 1.6937

USDJPY

The pair moves higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extension higher so far retraced nearly 50% of 102.25/101.05 descend, with positive hourly studies being supportive. However, 4-hour technicals are still weak and require regain of pivotal 101.85/102 barriers to confirm recovery. Otherwise, lower top formation and fresh weakness, in case of stall under 101.85, reinforced by 20/200 death cross, would remain on the table, as overall picture remains bearish and sees potential for final push towards key supports and short-term congestion floor levels at 100.81/74, loss of which to resume larger downtrend off 105.43, 2013 annual high.

Res: 101.65; 101.85; 102.00; 102.25
Sup: 101.51; 101.20; 101.05; 100.80

AUDUSD

The pair trades in near-term consolidative mode, with price action holding near the lower consolidation boundary at 0.9359, where acceleration from 0.9454 spike high, found temporary support. Near-term technicals are losing neutral bias, which requires confirmation on a break below 0.9359 handle, to bring bears back in play for return to 0.9320 breakpoint. Alternatively, holding above current supports, will keep the pair in extended consolidative mode, while lift above 0.9454 barrier is required to confirm bullish resumption, for eventual attack at key 0.9503 peak.

Res: 0.9407; 0.9429; 0.9454; 0.9503
Sup: 0.9359; 0.9339; 0.9327; 0.9320

 

[WindsorBrokers]

EURUSD

The Euro remains under pressure and left lower top at 1.3639, after fresh acceleration lower probes levels below 1.3585/74 supports. The way towards 1.35 base and key short-term support, is now open, as fresh weakness retraced nearly 76.4% of 1.3502/1.3699 rally. Bearish near-term studies support the notion, as daily tools are building bearish momentum for eventual completion of 1.3502/1.3699 phase, with probe below 1.35 base / main bull trendline off 1.2042 and return to another pivotal short-term support at 1.3475, 03 Feb higher low, to complete larger, Feb/May 1.3475/1.3699 ascend. Corrective rallies should find ideal cap at previous supports at 1.3585 and 1.3600, while only sustained break above the latter would delay immediate bears.

Res: 1.3574; 1.3585; 1.3600; 1.3625
Sup: 1.3556; 1.3534; 1.3511; 1.3502

GBPUSD

Cable rallied sharply and escaped from dangerous territory, neutralizing downside risk, which started to build up on a break below 1.71 handle. Strong rebound recovered all near-term losses and posted marginally higher high at 1.7189. This brought near-term focus back to the upside levels, for resumption of larger uptrend, being paused by 1.7177/1.7057 corrective phase, with reversal signaled by bullish engulfing pattern. Positively aligned near-term studies and already bullish larger picture, support the notion, however, close above near-term tops is required to confirm.

Res: 1.7166; 1.7177; 1.7189; 1.7200
Sup: 1.7123; 1.7108; 1.7095; 1.7068

USDJPY

The pair continues to move higher, on near-term corrective rally off fresh low at 101.05, posted on 05 July. Fresh extensions retraced over 76.4% of 102.25/101.05 descend, with positive near-term studies being supportive. The price action approaches the lower boundary, previous 09 July high / 200 SMA, of pivotal 101.85/102.00 resistance zone, break of which is required to confirm recovery. However, caution is still required as daily studies are weak and risk of lower top formation will persist while 102 barrier stays intact. Otherwise, break here to open next pivotal barriers at 102.25/35.

Res: 101.75; 101.85; 102.00; 102.25
Sup: 101.62; 101.42; 101.37; 101.20

AUDUSD

Near-term recovery attempt lost traction after spiking at 0.9454 and subsequent weakness nearly fully retraced 0.9327/0.9454 upleg. This brought immediate risk at key 0.9320 higher platform and Fibonacci 61.8% retracement of 0.9209/0.9503 ascend, with break here to trigger fresh extension of reversal from 0.9503 peak, which was interrupted by 0.9327/0.9454 corrective rally. Negative near-term studies support further weakness, however, hesitation ahead of 0.9320 base could be expected, as hourly studies are oversold. Corrective rallies should stay under 0.94 barrier, to keep fresh bears intact.

Res: 0.9376; 0.9407; 0.9429; 0.9454
Sup: 0.9327; 0.9320; 0.9300; 0.9250

 

[WindsorBrokers]

EURUSD

Due to lack of important economic figures affecting the euro zone area or the US yesterday we saw very weak action on EURUSD during the first trading session of the week. The daily range between high and low was only 20 pips. As a result the outlook remains bullish with an attempt to break first resistance at 1.3445.
The only important data to look for today will be at 14:00 GMT from the US ISM Non-Manufacturing PMI expected to be optimistic at 56.6 close to the previous reading of 56.0

Res: 1.3445, 1.3475, 1.3500
Sup: 1.3365, 1.3340, 1.3315

GBPUSD

We witnessed a little bit of bullish action yesterday on the sterling seeing it rise 50 pips from the daily low to close near the high at 1.6862. The daily low at was an attempt the break below our first support at 1.6810. It looks now heading to attempt to break above 1.6890 resistances. UK construction PMI was as optimistically expected yesterday which helped give it some support.
Today we are also expecting PMI figures from the UK at 08:30 GMT however this time concerning the service sector. Expectations are also optimistic 58.1

Res: 1.6890, 1.6920, 1.6965
Sup: 1.6810, 1.6780, 1.6755

USDJPY

USDJPY did not even reach close to our first resistance of 103.00 or support 102.30. Also posting a weak high low/range of 30 pips. Our outlook remains bearish if it stays below pivot point 103 due to the fall on the dollar on Friday as a result of weak Jobs data from the US. Targets stand at 102.30, 102 & 101.80. However a break above 103 opens the way up for 103.40 and 103.70.
The bearish outlook is further confirmed on the H1 chart as we see the current price below 55 & 20 exponential moving averages

Res: 103.00, 103.40, 103.70
Sup: 102.30, 102.00, 101.80

Gold

As with our comments on the currency pairs Gold did not break any support or resistance level. However the daily high was at 1295 which is close to our first resistance 1297 (high of 31.7.14 & 1.8.14) but did not find enough momentum to go above it. The double bottom at 1280 ( low of 31.7.14 & 1.8.14) still supports gold and we will consider it our pivot point for today. Gold saw a significant rise last Friday due to weak economic US jobs data

Res: 1297, 1304, 1312
Sup: 1280, 1266, 1259

 

[WindsorBrokers]

EURUSD

The Euro is at the back foot in the near-term, as the price moves lower after recovery rally stalled at 1.3431, short of 1.3443 pivotal top. Subsequent weakness, which broke below psychological 1.34 support, also Fibonacci 61.8% of 1.3316/1.3431 upleg, sees risk of further easing and possible retest of near-term base above 1.33 handle. Negative hourly studies support the notion, however, range trading will remain in play while the price holds within current boundaries, with overextended daily technicals suggesting extended consolidation and only break above 1.3343/49 lower top / Fibonacci 38.2% of larger 1.3639./1.3316 descend, to signal stronger recovery attempt. Penetration of strong 1.33 support zone, on the other side, is expected to resume broader weakness off 1.3392, 08 May peak and extend the third wave from 1.3699 lower top of 01 July, towards its 100% Fibonacci expansion at 1.3209.

Res: 1.3375; 1.3401; 1.3431; 1.3443
Sup: 1.3331; 1.3300; 1.3250; 1.3209

GBPUSD

Cable maintains negative tone and resumes larger downtrend, which was interrupted by 1.6764/94 consolidation, with psychological 1.68 support now acting as immediate resistance and keeping the upside attempts limited. Fresh weakness is looking for retest of 1.67 zone higher base, to complete the bull-leg from 1.67 to 1.7189. Break below 1.67 support to open 1.6650, 200SMA. Prevailing negative tone supports the notion, with consolidative actions expected to interrupt bears. On the upside, 1.68 offers solid resistance and sustained break here would delay bears for possible attempt at 1.6885 lower top and breakpoint.

Res: 1.6794; 1.6827; 1.6862; 1.6885
Sup: 1.6736; 1.6691; 1.6657; 1.6600

USDJPY

The pair regained traction on hourly chart studies, as the price action stabilizes above 102 handle and approaches pivotal 102.45 lower top and Fibonacci 61.8% of 103.07/101.49 descend. Break here is required to confirm higher low formation at 101.49 and open 103 zone for test. Daily studies are positive and support the notion, with close above 200SMA, to confirm. Psychological 102 support and higher low, also near daily cloud top, should stay intact to maintain the structure.

Res: 102.45; 102.91; 103.07; 103.42
Sup: 102.22; 102.00; 101.69; 101.49

AUDUSD

The pair maintains overall negative structure, as bearish acceleration off 0.9372 lower top of 06 Aug, posted new low at 0.9237, on approach to strong 0.92 zone base. Brief upside attempts are expected to delay bears, which are aiming towards 0.92 higher base and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Consolidative action off 0.9237 low, was so far limited under 0.9288, Fibonacci 38.2% of 0.9372/0.9237 downleg, with more significant corrective action to be sparked on a break above 0.9372 lower top.

Res: 0.9266; 0.9285; 0.9320; 0.9372
Sup: 0.9237; 0.9200; 0.9180; 0.9165

 

[WindsorBrokers]

EURUSD

The Euro returned to weakness and trades near 1.3330 base, following yesterday’s sharp rally, driven by fundamentals, which showed again lack of strength to break above near-term congestion tops and pivotal barriers. Negative near-term studies keep the downside favored, with penetration through 1.3330 base, reinforced by weekly cloud base, to trigger fresh extension of larger descend from 1.3392, towards 1.3247, Fibonacci 38.2% of 1.2042/1.3392 ascend. Overextended daily conditions, however, may delay bears for prolonged consolidative phase.

Res: 1.3372; 1.3414; 1.3431; 1.3443
Sup: 1.3347; 1.3331; 1.3300; 1.3250

GBPUSD

Cable came under increased pressure and slumped below 1.6690 higher base, on Sterling-negative data, released yesterday. Overall bears are confirmed by loss of strong support and target at 1.6690, with immediate target at 1.6657, 200SMA, being tested and psychological 1.66 support coming in focus. Oversold near-term conditions, however, are expected to interrupt bears for consolidative/corrective action, with psychological 1.67 barrier offering initial resistance, ahead of 1.6735, Fibonacci 38.2% of 1.6843/1.6668 downleg/hourly 55SMA and 1.6755, previous lows and descent’s mid-point, where rallies should be ideally capped.

Res: 1.6700; 1.6735; 1.6755; 1.6766
Sup: 1.6655; 1.6600; 1.6563; 1.6500

USDJPY

The pair remains supported and moves higher after eventually breaking above 102.45/47 lower top/Fibonacci barriers. Positive near-term studies favor further upside and eventual test of pivotal 103 resistance zone, with the notion being supported by reversal pattern, which is close to completion on a daily chart. Previous peaks and 200SMA at 102.30 zone should ideally contain corrective dips, with potential loss of 102 handle, to sideline bulls.

Res: 102.64; 102.91; 103.07; 103.42
Sup: 102.30; 102.07; 102.00; 101.69

AUDUSD

Pair’s overall structure remains negative, as bearish acceleration off 0.9372, 06 Aug lower top, posted new low at 0.9237, on approach to strong 0.92 zone base. Brief upside attempts are expected to delay bears, which are looking for test of 0.92 higher base and 0.9180, Fibonacci 38.2% retracement of larger 0.8658/0.9503 bull phase, with loss of these supports expected to accelerate bears off 0.9503 peak. Consolidative action off 0.9237 low has cracked psychological 0.93 barrier, also 50% retracement of 0.9372/0.9237, which may delay bears, however, only break above 0.9372 lower top would signal near-term base and more significant corrective action.

Res: 0.9320; 0.9372; 0.9400; 0.9423
Sup: 0.9286; 0.9237; 0.9200; 0.9180

 

[WindsorBrokers]

EURUSD

The Euro ended the week in red, maintaining overall negative tone, with lower timeframes studies being in positive mode, as last Friday’s price action probed again above 1.34 barrier, with daily close occurring just ticks below daily highs. This keeps the upside favored in the near-term, however, sustained break above near-term range tops, just above 1.34 level, is required to confirm near-term bulls and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top. Hourly higher base at 1.3355 zone, should keep the downside protected, to maintain near-term bulls. Repeated failure above 1.34 barrier, however, would signal prolonged sideways trade, with increased downside risk expected on violation of 1.3355 support.

Res: 1.3398; 1.3414; 1.3431; 1.3443
Sup: 1.3379; 1.3355; 1.3334; 1.3300

GBPUSD

Cable overall picture remains bearish, as the pair closed in red for the sixth consecutive week, keeping the short-term downtrend intact for now. On the other side, first signals of reversal come from last Friday’s Doji candle, just above 200SMA, which holds for now and today’s gap-higher opening. Near-term price action is attempting to stabilize above 1.67 handle, with bounce so far having retraced over 38.2% of 1.6843/1.6657 descend and hourly studies being positively aligned. Further upside and break above the next significant barrier at 1.6755, previous low of 12 Aug, also near 50% retracement, looks favored for now and is required to further improve near-term structure for possible attempt at key 1.6843, regain of which to sideline short-term bears. Otherwise, risk of lower top formation, in case of stall under 1.6843, would be likely near-term scenario.

Res: 1.6733; 1.6755; 1.6771; 1.6800
Sup: 1.6712; 1.6675; 1.6655; 1.6600

USDJPY

The pair trades in near-term consolidative mode after fresh bulls posted new high at 102.70 and subsequent sharp pullback retested levels close to pivotal 102 support. Hourly studies turned negative, while 4-hour picture holds bullish tone, which is, along with positive daily studies, expected to keep bulls in play for renewed attempt higher, with regain and break above 102.70 hurdle, to open pivotal 103 barrier. Alternatively, loss of 102 handle to confirm near-term bearish stance and extend weakness off 102.70 high.


Res: 102.70; 102.91; 103.07; 103.42
Sup: 102.23; 102.12; 102.00; 101.69

AUDUSD

The pair holds steady in the near-term and consolidates last week’s gains which peaked at 0.9332. Pullback off 0.9332 was contained just under 0.93 handle at Fibonacci 38.2% of 0.9237/0.9332 upleg that keeps near-term bulls in play for now. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term base for stronger correction, which would sideline larger picture bears and delay final push towards strong support and base at 0.92 zone. Hourly technicals are neutral and 4-hour tone remains positive, with 0.93 support zone required to hold.

Res: 0.9332; 0.9356; 0.9372; 0.9400
Sup: 0.9307; 0.9296; 0.9273; 0.9254

 

[WindsorBrokers]

EURUSD

The Euro remains in near-term range trading, following repeated stall of attempts at 1.34 resistance zone, seen yesterday. Near-term studies weakened and trade in the range’s lower part, following pullback of 1.3398, yesterday’s rejection level and high of the day. Break of either side of the range is required to define near-term direction, with loss of range’s floor and near-term base, seen as a trigger for bearish resumption towards psychological 1.33 support and acceleration lower to expose 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100expansion of the third wave which commenced from 1.3699, 01 July lower top. Alternatively, sustained break above near-term range tops, just above 1.34 level, is required to bring bulls in play and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top.

Res: 1.3365; 1.3380; 1.3398; 1.3414
Sup: 1.3334; 1.3300; 1.3247; 1.3209

GBPUSD

Cable is entrenched within narrow range in the near-term price action, after fresh bulls off 1.6655, failed to extend gains above 1.67 barrier. Overall picture remains bearish and keeps short-term downtrend intact for now. On the other side, initial signals of reversal, which came from last Friday’s Doji candle and yesterday’s gap-higher opening, so far did not materialize, as price action remains limited at 1.6736, yesterday’s high. This made hourly studies to start losing traction, with increased downside risk expected on a fresh weakness below 1.67 handle, as 4-hour technicals remain weak. Unless the price action rallies through initial 1.6755/71 barrier, previous low / Fibonacci 61.8% of 1.6843/1.6655 descend, near-term outlook will see extended sideways mode, with downside risk, as favored scenario.

Res: 1.6736; 1.6755; 1.6771; 1.6800
Sup: 1.6699; 1.6675; 1.6655; 1.6600

USDJPY

The pair holds positive near-term tone, as the price retraced the biggest part of 102.70/102.12 corrective pullback and aims at 102.70, as initial target. Positive near-term studies support fresh attempt at 102.70, for eventual attack at pivotal 103 resistance zone, above which to expose the upper boundaries of short term range. Corrective easing ahead of 102.70 barrier, should be ideally contained at 102.40 zone, to keep near-term bulls intact.

Res: 102.70; 102.91; 103.07; 103.42
Sup: 102.40; 102.23; 102.12; 102.00

AUDUSD

The pair remains steady and posted marginally higher high at 0.9340, after completing 0.9332/0.9296 corrective pullback. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term base for stronger correction, which would sideline larger picture bears and delay final push towards strong support and base at 0.92 zone. Near-term technicals are positive and favor further upside, with 0.93 support zone required to hold corrective dips.

Res: 0.9340; 0.9356; 0.9372; 0.9400
Sup: 0.9312; 0.9296; 0.9273; 0.9254

 

[WindsorBrokers]

EURUSD

The Euro has eventually broken near-term base and consolidation bottom, signaling resumption of larger downtrend, as the price tested psychological 1.3300 support. Studies on all timeframes remain negative and favor fresh downside, where the pair is looking for test of near-term targets at 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100% expansion of the third wave which commenced from 1.3699, 01 July lower top. Bears could be interrupted by corrective rallies, as near-term studies are becoming oversold, with previous base at 1.3330 zone offering initial resistance and extended rallies to be ideally capped under 1.3365 lower top.


Res: 1.3323; 1.3331; 1.3350; 1.3365
Sup: 1.3247; 1.3209; 1.3160; 1.3103

GBPUSD

Cable slumped below 1.66 support, following recovery attempt stall and subsequent acceleration which was triggered after the price filled Monday’s gap. Continuation of larger downtrend from 1.7189 peak is looking for 1.6548, 04 Apr higher low, psychological 1.65 support and 1.6464, low of 24 Mar 2014. However, oversold conditions of all timeframes studies suggests corrective rally in the near-term. Previous low at 1.6655, offers immediate resistance, ahead of previous rejection tops at 1.6736, where rallies should be capped. Otherwise, violation of the latter would allow for stronger corrective rally and expose the next pivotal resistance at 1.6843, 13 Aug lower top.

Res: 1.6655; 1.6700; 1.6736; 1.6755
Sup: 1.6600; 1.6548; 1.6500; 1.6464

USDJPY

The pair holds positive near-term tone and continues to trend higher, as fresh acceleration has eventually broken pivotal 103 barrier. Bull-leg off 101.49, 08 Aug higher low, is now looking for test of the upper boundaries of short-term range at 103.75 and 104.11, to eventually signal the end of consolidative phase and shift short-term focus higher. Corrective pullbacks on overbought near-term studies should ideally find ground above 102.70, previous peak and near 50% of 102.12/103.25 rally.


Res: 103.25; 103.42; 103.75; 104.11
Sup: 103.00; 102.70; 102.50; 102.23

AUDUSD

The pair lost traction after corrective rally off 0.9237 stalled at 0.9342 and subsequent dip to 0.9275 retraced 61.8% of 0.9237/0.9342 upleg. This has weakened hourly structure, which become bearish and sees risk of full retracement, on a break below temporary support at 0.9275. On the other side, 4-hour chart indicators are on the midlines and in case 0.9275 support hold, hopes of fresh attempts higher would remain in play. However, regain of lower top at 0.9315, is seen as minimum requirement to support such scenario. Overall picture remains bearish, with short-term price action being capped by 20/100SMA’s bearish cross.

Res: 0.9315; 0.9342; 0.9372; 0.9400
Sup: 0.9275; 0.9254; 0.9237; 0.9200

 

[WindsorBrokers]

EURUSD

The Euro continues to trend lower, with fresh acceleration below 1.33 handle, testing levels below initial 1.3247, Fibonacci 38.2% retracement target. Further bears are expected to test the next targets at 1.3209/00, Fibonacci 100% expansion of the wave from 1.3699 / psychological support, below which 1.3103, September 2013 higher low, will come in focus. Oversold conditions on all timeframes, however, suggest a pause in the downtrend, with 1.33 zone offering the first significant barrier, where lower top and 38.2% retracement of 1.3397/1.3240 descend lay, ahead of previous range floor and Fibonacci 61.8% retracement at 1.3340 zone, below which, rallies should be limited.

Res: 1.3273; 1.3300; 1.3323; 1.3340
Sup: 1.3240; 1.3209; 1.3160; 1.3103

GBPUSD

Cable remains under pressure and continued the downmove, which was interrupted by yesterday’s 1.6599/1.6677, corrective rally. Fresh weakness approaches the next target at 1.6548, 04 Apr higher low, below which psychological 1.65 support and 1.6464, low of 24 Mar 2014, are expected to come in focus. The negative scenario is additionally supported by loss of 200SMA, which signals further significant losses in the near-term. Corrective rallies on oversold near-term studies should be ideally capped under 1.6677 lower top, to keep immediate bears intact, otherwise, extended corrective action is expected to delay.

Res: 1.6600; 1.6622; 1.6651; 1.6677
Sup: 1.6561; 1.6548; 1.6500; 1.6464

USDJPY

The pair maintains positive overall tone and continues to trend higher, as fresh acceleration higher has taken out 103.75, 07 Mar high and approaches key barrier and short-term range top at 104.11, 04 Apr peak. Bulls remain fully in play and favor eventual break above 104.11, which will signal an end of short-term consolidative phase and expose year-to-date peak at 105.43, posted on 02 Jan 2014. Hesitation ahead of 104.11 cannot be ruled out, as studies are overbought on all timeframes. Previous peak at 103.07 offers solid support and should contain stronger dips.

Res: 104.11; 104.50; 104.83; 105.00
Sup: 103.66; 103.39; 103.07; 102.70

AUDUSD

The pair lost traction and slumped lower, to fully retrace 0.9237/0.9342 upleg. Former low offers temporary support for near-term consolidation, before fresh extension lower, as bears took control of near-term studies and Three Black Crows reversal pattern is nearly completed. Break below 0.9237 to confirm lower top at 0.9342, where 20/100SMA’s bearish cross capped recovery attempts and open way for final push towards key support and short-term target at 0.92 higher base zone. Corrective rallies off 0.9237, should be ideally capped at 0.9275/0.93 zone.

Res: 0.9275; 0.9300; 0.9315; 0.9342
Sup: 0.9237; 0.9200; 0.9180; 0.9132