Windsor Brokers - Short Term Technical Analysis for Majors (14:45 GMT)

[WindsorBrokers]

EUR/USD

The pair broke below the bull trendline and the recent range floor at 1.3445/21 zone, accelerating losses through weekly Ichimoku cloud base at 1.3407, to so far test levels close to our next target at 1.3360. Near-term studies maintain bearish tone, as 1/4H MACD extends below the signal line, however, oversold conditions are looking for near-term base and corrective bounce. Previous support at 1.3421, now reverted to resistance, offers initial barrier, while 1.3500 zone, also 20 day SMA is expected to cap. Dominating bears suggest further weakness, with loss of 1.3360 to open 1.3300 next.

Res: 1.3421, 1.3450, 1.3480, 1.3500
Sup: 1.3371, 1.3360, 1.3300, 1.3483
http://mediaserver.fxstreet.com/Repo...1123144653.gif



GBP/USD

Extends losses after break below 1.5611/00 support zone, to test 1.5555, daily Ichimoku cloud base. Break here to confirm short-term bearish structure and open way for fresh losses through 1.5541, 12 Oct low, towards initial targets at 1.5500, figure support and 1.5483, Fib 76.4% of 1.5271/1.6164 upleg. Overextended conditions on 4H chart see scope for corrective action, with initial resistance at 1.5600/20, ahead of breakpoint at 1.5690 that is expected to cap the upside attempts for now.

Res: 1.5600, 1.5620, 1.5633, 1.5653
Sup: 1.5555, 1.5541, 1.5500, 1.5483

http://mediaserver.fxstreet.com/Repo...1123144631.gif


USD/JPY

Improves the near-term tone after today’s rally from 77.00 extends gains towards initial barrier at 77.31. Break here and clearance of 77.50, 15 Nov spike high, is required to confirm near-term bulls and open way for fresh gains towards key short-term barrier at 78.00. Four-hour chart’s studies are emerging above their midlines and favor further gains, however, overextended hourlies may interrupt current rally. Holding above 77.00, 20 day SMA, maintains the near-term positive structure.

Res: 77.31, 77.50, 77.86, 78.00
Sup: 77.12, 77.00, 76.91, 76.80

http://mediaserver.fxstreet.com/Repo...1123144614.gif


USD/CHF

The near-term outlook shows signs of improvement after yesterday’s slide found support at 0.9105, just above strong support zone at 0.9100/0.9083. Fresh gains again stalled on approach to key near-term resistance at 0.9200, also broken bull trendline off 0.8566 low. Corrective pullback on overbought hourly conditions, needs to find support above 0.9160, today’s intraday high and 20 day SMA, to maintain near-term bulls for fresh attack at 0.9200 initially, ahead of possible extension towards key short-term barrier at 0.9234, 17 Nov high.

Res: 0.9199, 0.9207, 0.9234, 0.9300
Sup: 0.9160, 0.9125, 0.9105, 0.9083

http://mediaserver.fxstreet.com/Repo...1123144556.gif