Short Term Technical Analysis for Majors (13:45 GMT)

[WindsorBrokers]

EUR/USD

Broke below key 1.3300/1.3267 levels yesterday, to complete a 5 week bear flag, extending losses to 1.3201, fresh yearly low, earlier today. Correction followed, with lower top seen ahead of fresh attempt lower. Below 1.3201 to target 1.3140/20.


Res: 1.3345, 1.3356, 1.3422, 1.3448
Sup: 1.3255, 1.3201, 1.3190, 1.3140




GBP/USD

Reversal from yesterday’s 1.5472 high has the makings of head and shoulders top pattern and this shifts focus lower, targeting 1.5287/56 and 1.5216, trendline support. Only regain of 1.5520 will to negate current scenario.

Res: 1.5410, 1.5439, 1.5472, 1.5520
Sup: 1.5287, 1.5256, 1.5216, 1.5190




USD/JPY

Break above the corrective channel at 93.43 signals fresh strength. Market is currently firming off 92.72, 22 Apr low, with latest break through 93.77, now attempting at 94.25. Break here opens on 94.77, 05 Apr high.

Res: 94.25, 94.38, 94.60, 94.77
Sup: 93.25, 92.72, 92.56, 92.38




USD/CHF

Broke above 1.0750 yesterday to complete a 2 month bull flag and clear a falling trendline off last November’s peak. This signals and confirms significant medium-term strength, with 1.0848 seen thus far. Next target stands at1.0899, ahead of 1.1026.

Res: 1.0848, 1.0898, 1.0940, 1.0956
Sup: 1.0744, 1.0724, 1.0674, 1.0658