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Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 5, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Trading in a side way action since end of May until today, the EURUSD found support at 1.3585 and resistance at 1.3650. It seems like this side way action will come to an end during today and maybe tomorrow as we are expecting major fundamental news that should change the view. A break below 1.3585 would open 1.3555 (12 Feb low) and next 1.3475 (2014 year low). On the other hand, above 1.3650 would open 1.3670 (27 May high) and 1.3690 next. Midterm resistance is found at 1.3730

    Res: 1.3650, 1.3670, 1.3690, 1.3730
    Sup: 1.3585, 1.3555, 1.3520, 1.3475

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    GBP/USD
    Same sideway action for Sterling since the 28th of May has been dominating the view between 1.6780 and 1.6695. Incase 1.6695 is broken, support is found at 1.6680 (peak of 31st April) and 1.6655 (low of 15th April) where a break there would open further acceleration below 1.6500 zone. A small support is found at 1.6733 (a 50% Fibonacci retracement of yesterday’s rise). On the other hand, above 1.6780 (A 38.2% Fibonacci of 1.6920-1.6695 drop) would open 1.6815 and 1.6880-1.6920 (peaks of 21-22 May).

    Res: 1.6750, 1.6770, 1.6795, 1.6820
    Sup: 1.6733, 1.6695, 1.6680, 1.6655

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    USD/JPY
    After finding resistance at 102.80, the pair managed to find support at 102.45 zone during the past couple of days, as being still in an uptrend, if 102.80 was broken targets will be found at 103.00 (2nd May high) and 104.05 next (4th April high). On the lower side, and as mentioned first support is found at 102.45 and next 102.25 (couple of days low and 38.2% Fibonacci of 101.40-102.80 rise, and finally 102.05.


    Res: 102.80, 103.00, 104.05, 104.80
    Sup: 102.45, 102.25, 102.05, 101.40

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    GOLD
    Spot Gold found support at 1240 zone after a drop from 1295 zone during last week, resistance is found at 1252, 1260 and 1267 next. On the other hand, if the downtrend is maintained, targets will be found at 1238 (30th Jan low), 1231 (23nd Jan low).

    Res: 1252, 1260, 1267, 1280
    Sup: 1240, 1238, 1231, 1216

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