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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 24, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Negative near-term studies continue to pressure the pair to extend reversal from 1.4247, 22 Mar peak. Over 50% of 1.3867/1.4247 upleg has been retraced so far, to test 1.4050/40 support zone, where a higher low is anticipated, as hourly studies entered oversold zone. However, recovery attempts are seen corrective while lower top at 1.4213 caps, with break here needed to re-focus 1.4247 and 1.4280 on a break. At the downside, 1.4030/12 levels are next supports, with potential break lower to confirm near-term top and signal return to 1.3868/54 base.

    Res: 1.4090, 1.4113, 1.4136, 1.4161
    Sup: 1.4040, 1.4030, 1.4012, 1.3980

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    GBP/USD

    Extends retreat from 1.6400 peak after consolidation attempt above 1.6230 failed, to test 1.6200, 21 Mar higher platform. Loss of the latter will focus 1.6180/28, 50%/61.8% of 1.5959/1.6400 ascend, loss of which will suggest return to 1.5960, short-term range floor. At the upside, break above 1.6270, overnight’s high, is needed to spark fresh gains towards1.6340/50, then 1.6380/1.6400 barriers.

    Res: 1.6270, 1.6290, 1.6305, 1.6340
    Sup: 1.6200, 1.6180, 1.6150, 1.6128

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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: 80.69, 80.57, 80.16, 80.00

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    USD/CHF

    The recent narrow consolidative band floor at 0.9000 has been briefly broken, ticking 0.8976, just above key near-term support at 0.8961. Fresh strength cleared 0.9089, recent range floor, to extend gains above 0.91 level. Immediate focus is at 0.9133/39, 50% retracement of 0.9367/0.8900 decline / 15 Mar low, with lower top seen below 0.9200, to resume broader bear-trend. Only regain of 0.9367, 09 Mar high, would improve near-term tone and signal fresh recovery.

    Res: 0.9133, 0.9139, 0.9200, 0.9250
    Sup: 0.9070, 0.9000, 0.8976, 0.8961

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