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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Trades in a near-term corrective mode after hitting fresh high at 1.4247 yesterday. Initial support at 1.4135 is still intact, with possible extension to 1.4100, 38.2% of 1.3867/1.4247 upleg, before fresh push higher. Above 1.4247 to focus 1.4280 and 1.4303, key barriers.

    Res: 1.4185, 1.4200, 1.4217, 1.4247
    Sup: 1.4135, 1.4100, 1.4073, 1.4040

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    GBP/USD

    Continues to consolidate above 1.6340/26 support zone, following yesterday’s rally to fresh 14-month high at 1.6400. Further supports lie at 1.6290/80, hourly higher platform / 4-hour 20 day MA, while upside clearance of 1.6400 to spark fresh gains towards 1.6456/1.6500.

    Res: 1.6385, 1.6400, 1.6456, 1.6500
    Sup: 1.6340, 1.6290, 1.6280, 1.6225

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    USD/JPY

    Continues to trade in a narrow range after sharp recovery off 79.25 record low peaked at 82.00. Downside remains supported by 80.57, Friday’s low / 20 day MA, for now, with clearance of 81.30, range ceiling and 82.00 needed to resume recovery. 82.66, 90 day MA on a daily chart, and 83.30, 11 Mar high, are seen on a break. However, loss of 80.57 will signal fresh weakness under 80.00 handle. Longer-term outlook remains bearish.

    Res: 81.31, 81.74, 81.98, 82.41
    Sup: 80.57, 80.16, 80.00, 79.17

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    USD/CHF

    Remains in a near-term corrective/consolidative mode after reversal from 0.9089, last Friday’s recovery high, settles above 0.9000 level. Recent range’s ceiling at 0.9072/89 needs to be cleared to resume recovery attempt off 0.8900 record low, and expose 0.9139, near 50% retracement of 0.9367/0.8900 downleg where a lower high is anticipated, ahead of fresh weakness, with loss of 0.9000 support to re-focus 0.8961/0.8900 levels.
    Undergoes recovery after dipping to a fresh all-time low at 0.8900

    Res: 0.9072, 0.9089, 0.9139, 0.9200
    Sup: 0.9000, 0.8986, 0.8961, 0.8900

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