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

[WindsorBrokers]

EUR/USD

Maintains positive tone after spike to 1.40 level was followed by sharp reversal to 1.3940. Retest of 1.40 and extension towards 1.4083/1.41 zone on a break remains favored, while 1.3940/24 offers immediate support, while 1.3860, former high, underpins the advance.

Res: 1.4000, 1.4050, 1.4083, 1.4100
Sup: 1.3940, 1.3924, 1.3890, 1.3845





GBP/USD

Extends corrective pullback from fresh high at 1.6342 to 1.6234, just ahead of key near-term handle at 1.6215, after losing an initial support at 1.6252. Holding above 1.6215 is needed to keep immediate bulls in play, with break through 1.63 zone to expose 1.6342. Loss of 1.6315, however, would signal further retracement of 1.6030/1.6342 upleg and open 1.6185/45 next.

Res: 1.6290, 1.6314, 1.6331, 1.6342
Sup: 1.6234, 1.6215, 1.6185, 1.6132





USD/JPY

Has spiked to 83.05, 61.8% retracement of 83.96/81.57 downleg, ahead of sharp reversal. Previous high at 82.50, now reverted to support, has been lost, with break below 82.28 today’s higher platform, to question current recovery attempt and open way for further weakness towards 82.13, 61.8% Fibonacci retracement. Downside rejection above 82.28 would signal fresh recovery under way.

Res: 82.50, 82.75, 82.90, 83.05
Sup: 82.28, 82.13, 81.76, 81.57





USD/CHF

Recovery attempt from 0.9200 low has so far been capped by 0.9320 zone, with the latest weakness retracing nearly 61.8% of 0.9200/0.9320 ascend, and turning immediate tone negative. However, while above 0.9230, scope exists for fresh recovery attempt, though, regain of 0.9320 is required to confirm, otherwise return to 0.9200 and fresh record lows on a break, would be the likely scenario.

Res: 0.9274, 0.9290, 0.9318, 0.9327
Sup: 0.9248, 0.9230, 0.9221, 0.9200

Yes it was over 10% gains today with 9% for the close, so does this mean that it is time to get into oil