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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 12, 2012.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The pair maintains bearish tone that was confirmed on a break blow 200 day MA and important 1.2800 support that confirmed daily double-top formation. Temporary base at 1.2700 zone comes under pressure, as fresh weakness erase overnight’s recovery to 1.2738. As 1.2700 has already been cracked and hourly 55 day EMA caps the upside, with hourly studies losing momentum, immediate focus comes on 1.2700/1.2689, last Friday’s low and bear-channel support. Break here to signal resumption of broader downmove from 1.3138, through 90 day MA at 1.2650, towards 50% retracement of 1.2042/1.3170 July/Sep rally at 1.2606. Alternative scenario sees further consolidation above 1.2700, with strong barrier at 1.2780/1.2800, expected to cap rallies.

    Res: 1.2738, 1.2761, 1.2787, 1.2800
    Sup: 1.2700, 1.2689, 1.2650, 1.2606

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    GBP/USD

    Near-term bears resume on last Friday’s slide through 1.5950/30, last week’s consolidation range floor, with violation of important 1.5900 support, Fib 38.2% of 1.5267/1.6308 ascend / 90 day MA, keeping the downside in focus. Fresh weakness from overnight’s correction top at 1.5914, pressures last Friday’s fresh low at 1.5886, loss of which to look for test of 200 day MA at 1.5848 initially. Previous strong support at 1.5950, reinforced by 20 day EMA, offers initial resistance, however, only bounce through 1.6000, round figure / 55 day EMA, would provide relief.

    Res: 1.5914, 1.5928, 1.5950, 1.5970
    Sup: 1.5900, 1.5886, 1.5850, 1.5800

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    USD/JPY

    The pair remains maintains near-term bearish tone, as pullback from 80.67, 02 Nov high dips close to psychological 79.00 support, also Fib 61.8% of 77.94/80.67 rally, where temporary base was found. Corrective bounce was so far limited by 55 day EMA that turns in the sideways mode on hourly chart, with last Friday Doji, showing indecision. Any further retracement needs to clear 80.00 barrier, Fib 61.8% of 80.67/79.06 downleg, to shift focus higher, while violation of 79.00 would signal stronger correction of 77.12/80.67 upleg.

    Res: 79.55, 79.75, 80.00, 80.43
    Sup: 79.30, 79.06, 79.00, 78.75

    [​IMG]



    USD/CHF

    Near-term bulls remain in play, as the pair approaches initial target at 0.9500 on a second attempt. Brief corrective action off last Friday’s high at 0.9497 was contained at 0.9466, by ascending 55 day EMA, with fresh bullish momentum looking for resumption of rally from 0.9213 through 0.9500, to focus 0.9528, 90 day MA and psychological 0.9600 barrier, also 50% of 0.9970/0.9213 descend. Initial support lies at 0.9466, ahead of previous strong barrier at 0.9430 zone, while only loss of 0.9400, also 200 day MA.

    Res: 0.9500, 0.9528, 0.9550, 0.9591
    Sup: 0.9466, 0.9450, 0.9427, 0.9400

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