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 (08:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 4, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Joined:
    Feb 18, 2010
    Messages:
    948
    Likes Received:
    1
    EUR/USD
    Remains under pressure after yesterday’s sharp fall through a series of supports tested 1.36 zone so far, sidelining near-term bulls. Immediate focus is on 1.3570, key near-term support, loss of which will further weaken the structure and expose 1.3480, 38.2% of 1.2872/1.3860 ascend. Corrective attempts are seen capped by 1.3700/35 zone.

    Res: 1.3657, 1.3700, 1.3724, 1.3735
    Sup: 1.3608, 1.3595, 1.3570, 1.3539

    [​IMG]



    GBP/USD
    Gains through 1.6228, previous high, stalled at 1.6277, just under key barrier at 1.6297, followed by shallow correction. Near-term studies remain supportive for fresh attempt higher, with clearance of 1.6297 needed to resume the recent bull-leg from 1.5750 and open way for fresh bull phase, to target 1.6400, 38.2% retracement of the long-term 2.1161/1.3501 decline. Downside, 1.6120 offers immediate support, with potential break here to trigger deeper correction towards 1.6076/36. Loss of 1.60 zone, however, weakens the short-term structure.

    Res: 1.6174, 1.6228, 1.6277, 1.6297
    Sup: 1.6120, 1.6105, 1.6076, 1.6002

    [​IMG]



    USD/JPY
    Continues to trade sideways after the latest recovery attempt off 81.30 low faces strong resistance at 82.00 zone. While the latter intact, short-term bears remain in play for retest of 81.30 and 80.92, key support, loss of which would turn immediate focus at 80.24, 01 Nov 2010 multiyear low. Upside, regain of 82.00/25 to signal further recovery and open 82.50/83.00 zone next.

    Res: 81.69, 81.84, 82.05, 82.24
    Sup: 81.48, 81.39, 81.30, 80.92

    [​IMG]


    USD/CHF
    Remains in a corrective mode after decline from 0.9782 found temporary support at 0.9327, just above key historical low at 0.9301. Market briefly broke above 0.9499, 38.2% retracement of 0.9782/0.9327 downleg, to reach 0.9523, with break through here and 0.9553, 50%, to signal further recovery towards 0.9600 zone, clearance of which is required to confirm recovery, otherwise, lower top and resumption of the broader downtrend would the likely scenario.

    Res: 0.9500, 0.9523, 0.9554, 0.9607
    Sup: 0.9446, 0.9420, 0.9394, 0.9327

    [​IMG]
     
Loading...

Share This Page