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

[WindsorBrokers]

EUR/USD

Yesterday’s failure to break below 1.3266 yearly low, has triggered a corrective phase. A higher low is now sought in an hourly time frame for a fresh leg higher, with 1.3409/59 offering strong resistance. Break above the latter is required to sideline near-term bears in favor of stronger correction, while failure to break higher would risk fresh weakness and re-focus 1.3266.

Res: 1.3409, 1.3438, 1.3459, 1.3497
Sup: 1.3341, 1.3320, 1.3282, 1.3266




GBP/USD

Daily structure continues to seek for a shallow retrace, with a short-term rise back over 1.5380 not ruled out, before leaving a lower top. Latest clearance of 1.5315 now confirms this scenario.

Res: 1.5380, 1.5400, 1.5420, 1.5475
Sup: 1.5235, 1.5220, 1.5167, 1.5128




USD/JPY

Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

Res: 93.72, 93.85, 94.03, 94.25
Sup: 93.05, 92.82, 92.75, 92.45




USD/CHF

Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

Res: 1.0742, 1.0795, 1.0809, 1.0827
Sup: 1.0677, 1.0650, 1.0608, 1.0585