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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 23, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Has fully reversed the recent pullback from 1.3714, last Friday’s previous high, after finding ground at 1.3525. Fresh strength cleared 1.3714, en-route to 1.3743, 09 Feb lower high. Break here is needed to signal an end of corrective phase off 1.3860 and expose the latter for retest. At the downside, 1.3634, yesterday’s higher platform, underpins the advance.

    Res: 1.3743, 1.3788, 1.3824, 1.3860
    Sup: 1.3677, 1.3634, 1.3608, 1.3595

    [​IMG]



    GBP/USD

    Regains 1.62 handle after yesterday’s pullback from 1.6262 high, just under key 1.6277/97 resistance zone, found support at 1.6100. Near-term structure is supportive for attempt higher and above 1.6297 to trigger fresh bull phase towards 1.6456. Immediate support lies at 1.6170/65, while loss of 1.61 will weaken near-term tone.

    Res: 1.6227, 1.6248, 1.6262, 1.6277
    Sup: 1.6162, 1.6124, 1.6100, 1.6075

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    USD/JPY

    Extends reversal from 83.96, 16 Feb peak, has so far retraced 50% of the latest 81.10/83.96 ascend, with negative near-term studies looking for further weakness towards 82.20, 61.8% retracement, loss of which will signal return to 81.76/81.10 levels. At the upside, 82.88/83.00 area offers immediate resistance and expected to cap. Otherwise, fresh recovery attempt will focus 83.50 next.

    Res: 82.88, 83.23, 83.52, 83.73
    Sup: 82.52, 82.20, 81.76, 81.10

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    USD/CHF

    Accelerates losses after yesterday’s recovery attempt from 0.9432 stalled at 0.9504. Immediate target lies at 0.9343, trendline support, ahead of 0.9327, 02 Feb higher low, and possible retest of 0.9301, historical low, break of which will open fresh bear-phase. At the upside, 0.9504 is expected to limit corrective attempts.

    Res: 0.9432, 0.9450, 0.9504, 0.9536
    Sup: 0.9353, 0.9342, 0.9327, 0.9301

    [​IMG]
     
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