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Windsor Brokers - Short Term Technical Analysis for Majors (07:50 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 28, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s attempt towards 1.3510, 50% retracement of 1.5144/1.1875, reached 1.3504, ahead of pullback. This is seen corrective while 1.3285 level holds, with break through 1.3510 to open 1.3520/83, Apr highs. Below 1.3285 delays immediate bulls and allows for stronger correction.

    Res: 1.3470, 1.3494, 1.3504, 1.3510
    Sup: 1.3368, 1.3355, 1.3304, 1.3285

    [​IMG]



    GBP/USD

    Broke higher on Friday to test 76.4% retracement of 1.5997/1.5285 downleg. Sustained break here will open 1.5860 first, with possible retest of 1.5997, 06/09 Aug highs, not ruled out. Initial support lies at 1.5740/28, while break below 1.57 zone delays.

    Res: 1.5842, 1.5865, 1.5910, 1.5997
    Sup: 1.5771, 1.5740, 1.5728, 1.5697

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    USD/JPY

    Undergoes near-term consolidation following reversal off 85.92 and 85.38 lower top. Hourly structure remains negative, and break below 84.03, 61.8% retracement of 82.86/85.92 upleg to open way for possible retest of 82.86. Immediate cap lies at 84.46, while clearance of 85.38 firms tone

    Res: 84.46, 84.75, 84.90, 85.21
    Sup: 84.10, 84.03, 83.75, 83.60

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    USD/CHF

    Continues to trend lower, following reversal off 1.0181. Break below 0.9916, 2009 low, and 0.9803, 23 Sep previous low, have so far reached 0.9777. Consolidation is now underway and while 0.9880/98 caps, scope remains for extension towards 0.9700, possibly 0.9630.

    Res: 0.9880, 0.9898, 0.9931, 0.9980
    Sup: 0.9809, 0.9777, 0.9700, 0.9630

    [​IMG]
     
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