1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 31, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Joined:
    Feb 18, 2010
    Messages:
    948
    Likes Received:
    1
    EUR/USD

    Failed to extend recovery off 1.2586, with reversal emerging from 1.2778, just above 23.6% retracement of 1.3332/1.2586 downleg. This has completed a rising wedge and market now looks for retest of 1.2586, break of which will open 1.2522 and 1.2480.

    Res: 1.2675, 1.2715, 1.2745, 1.2778
    Sup: 1.2608, 1.2586, 1.2522, 1.2480

    [​IMG]



    GBP/USD

    Correction from 1.5371 has stalled at 1.5596, just under 1.5610, 38.2% retracement of 1.5997/1.5371 decline, with bears now attempting to complete a three-legged reversal off 1.5596. Potential break below 1.5371 would open fresh weakness, as short-term outlook remains negative.

    Res: 1.5472, 1.5533, 1.5573, 1.5596
    Sup: 1.5371, 1.5335, 1.5322, 1.5296

    [​IMG]


    USD/JPY

    Maintains negative tone, following yesterday’s failure of the recovery attempt from 83.58 at 85.89. This now opens way for retest of 83.58, yearly low, and 83.51, Jun 1995 low. Corrective attempts are seen limited by 84.50/82 for now.

    Res: 84.50, 84.82, 85.19, 85.46
    Sup: 84.04, 83.89, 83.58, 83.51

    [​IMG]

    USD/CHF

    Continues to trend lower towards a major bear flag trendline at 1.0065, drawn off the Mar 2008 low. Cycle low at 1.0220, 27 Aug low, is now being lost, with next target standing at 1.0130, 2010 low, posted 11 Jan. Upside, 1.0310/19 zone expected to cap.

    Res: 1.0250, 1.0275, 1.0307, 1.0325
    Sup: 1.0182, 1.0162, 1.0130, 1.0065

    [​IMG]
     
Loading...

Share This Page