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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 2, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:
    Turns the near-term tone bearish after yesterday’s upside rejection at 1.4452 triggered sharp fall to fully retrace the recent 1.4228/1.4452 upleg, extending losses to 1.4184, Fib 50% of 3-weeks 1.3836/1.4452 ascend. Recovery attempt off 1.4184 was short-lived, as gains stalled at 1.4281 and subsequent reversal currently attempting through 1.4184. Below here 1.4137, 21 July low and 1.4100, Fib 61.8%, come next, as near-term bears are fully in play. Oversold hourly conditions, however, suggest corrective bounce may precede fresh leg lower, with today’s high at 1.4281 expected to cap.

    Res: 1.4452, 1.4470, 1.4506, 1.4529
    Sup: 1.4179, 1.4137, 1.4100, 1.4067



    Weakens near-term tone after reversal from yesterday’s fresh high at 1.6474, signaled by bearish divergence on 4-hour chart, broke below 1.6260, strong support zone, extending losses through daily 90-day MA, to hit fresh low at 1.6236. Corrective attempt was so far capped by 20 day MA at 1.6328, and while below here immediate bear tone will look for retest of 1.6236, break of which to expose 1.6207, Fib 38.2% retracement of 1.5779/1.6474 ascend. Only regain of 1.6328/50, today’s high / 20 day MA, would ease immediate bear pressure.

    Res: 1.6302, 1.6328, 1.6350, 1.6387
    Sup: 1.6265, 1.6236, 1.6207, 1.6192



    Trades in a near-term corrective mode after extending broader bear trend through previous low at 76.87, to test previous all-time low at 76.32, posted on 16 Mar and hit marginally fresh record low at 76.28. Corrective bounce has so far regained 77.81, just ahead of 78.00, strong barrier, break of which is required to ease bear pressure and open way for stronger recovery towards 78.16/45 next. Failure under 77.81, however, would signal a lower top and resumption of downtrend.

    Res: 77.71, 77.81, 78.03, 78.16
    Sup: 77.16, 77.05, 76.82, 76.41



    Co0rrects the latest sharp fall that resulted in posting fresh record low at 0.7728 yesterday’s. Gains were so far capped at 0.7853, previous 29 July low, and while below here, immediate scope remains for test of 0.7728 and fresh phase lower, with 0.7700 in focus. Regain of 0.7853, however, would provide near-term relief, while only clearance of 0.7930/0.8000 zone would improve short-term outlook.

    Res: 0.7800, 0.7821, 0.7832, 0.7853
    Sup: 0.7773, 0.7728, 0.7700, 0.7650


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