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Windsor Brokers - Short Term Technical Analysis for Majors (08:10 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 17, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends recovery from 1.2643 higher low, clearing key 1.2931 and 1.3045 resistances, to approach 1.3158, 76.4% retracement of 1.3332/1.2586. Break here to open 1.3227 next, with full retracement at 1.3332 not ruled out. Downside, 1.3047/35 zone offers initial support.

    Res: 1.3158, 1.3186, 1.3227, 1.3260
    Sup: 1.3047, 1.3035, 1.3010, 1.2975

    [​IMG]



    GBP/USD

    Continues to trend higher, clearing the first barrier at 1.5700, en route to 1.5728, 61.8% retracement of 1.5997/1.5295 decline. This may offer a stronger resistance, together with overbought hourly conditions, to trigger a correction before continuing the uptrend. Downside, 1.5650 offers initial support, while below 1.5535 risks deeper pullback.

    Res: 1.5728, 1.5760, 1.5820, 1.5865
    Sup: 1.5650, 1.5595, 1.5575, 1.5535

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    USD/JPY

    Extends rally following the downside rejection at 82.86, with clearance of 85.91 to focus 86.40, 13 Aug high, and 86.67, 38.2% of 92.10/82.86 descend. Correction lower should be contained by yesterday’s higher platform at 85.21, to keep immediate bulls in play.

    Res: 85.91, 86.40, 86.89, 86.99
    Sup: 85.50, 85.21, 85.00, 84.72

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    USD/CHF

    Soared through 1.0050/61 resistance yesterday, to extend corrective phase off 0.9931. A lower top is anticipated near 1.0197, 76.4% retracement / trendline drawn off 1.0625, 12 Aug high, for a return to 0.9997/31. Break above 1.0276, 10 Sep high, needed to trigger a stronger recovery.

    Res: 1.0197, 1.0210, 1.0240, 1.0276
    Sup: 1.0137, 1.0110, 1.0060, 1.0050

    [​IMG]
     
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