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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 20, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends rally from 1.4156 higher low, clearing 1.4380, Fibonacci 61.8% retracement and 1.44 barrier, looking for test of 76.4% retracement at 1.4435 and 1.4454, 15 Apr intraday high, ahead of possible attempt at key barriers at 1.4500/18. Break here is needed to resume bulls and open 1.4579, 2010 high, next. Overbought hourly conditions, however, warn of corrective pullback, with 1.4330/00 zone expected to contain dips and maintain immediate bulls.

    Res: 1.4412, 1.4435, 1.4454, 1.4500
    Sup: 1.4382, 1.4330, 1.4315, 1.4300

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    GBP/USD

    Maintains near-term positive tone after loss of 1.6226 support extended decline to 1.6165, where a good support was found for fresh attempt higher. Regain of 1.63 handle has so far seen 1.6365 high, with 1.6382, 14 Apr high in sight, ahead of eventual attack at key resistances at 1.6400/26, above which will signal a resumption of broader uptrend and open 1.6456, 2010 high, next. Initial support lies at 1.63 zone.

    Res: 1.6382, 1.6400, 1.6426, 1.6456
    Sup: 1.6328, 1.6312, 1.6300, 1.6257


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    USD/JPY

    Recovery attempt from 82.17 low broke above 4-hour 20 day MA at 82.87, to briefly break above 83.00 barrier. This signals fresh recovery towards 83.25 and strong resistance at 83.77, 15 Apr high, with 82.65 expected to hold dips, to maintain near-term positive tone.

    Res: 83.09, 83.25, 83.42, 83.77
    Sup: 82.65, 82.31, 82.17, 82.00

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    USD/CHF

    Brief break above 0.9000 barrier was capped by 55 day MA at 0.9011, with reversal below 20 day MA, currently at 0.8960, under way. This turns immediate tone negative, and opens 0.8900/0.8894 lows for retest. Loss of the latter will signal a resumption of broader downtrend and open way towards 0.8800 zone. Only sustained break above 0.9000 would improve the outlook.

    Res: 0.8975, 0.9006, 0.9017, 0.9060
    Sup : 0.8945, 0.8920, 0.8904, 0.8894

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