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Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 7, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Broke out of a two week triangle to commence latest bear-leg to towards 1.1823, with fresh year to date low of 1.1876 seen so far. Any recovery attempt should now be capped my 1.2110/53, while loss of 1.1823 will open 1.1778 first, ahead of 1.1630, 2006 low.

    Res: 1.1966, 1.2021, 1.2080, 1.2110
    Sup: 1.1876, 1.1823, 1.1800, 1.1778

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    GBP/USD

    Short-term structure from the recent high at 1.4769 sees potential for a shallow retrace before fresh extension lower. 1.4329 and 1.4247 are seen next, with return to 1.3500 still in play medium-term. Back over 1.4586 delays.

    Res: 1.4490, 1.4505, 1.4552, 1.4588
    Sup: 1.4365, 1.4329, 1.4304, 1.4257

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    USD/JPY

    The latest recovery stalled at 92.87 on Friday, just under key 92.94, 18 May high. Sharp reversal of here reached 90.97, just ahead of 90.91/86, 50% retracement of 88.95/92.87 / 02 Jun intraday low, break of which will open 90.53 next. A key trendline support stands at 90.10. Correction higher under way, with break above 91.95 needed to delay immediate bears.

    Res: 91.95, 92.20, 92.49, 92.87
    Sup: 90.97, 90.86, 90.53, 90.14

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    USD/CHF

    Friday’s lower rejection at 1.1417 confirms the underlying bull structure, and clearance of 1.1571/1.1601 now opens way for retest of1.1730, just ahead of key weekly trendline resistance at 1.1782, where an eventual break is favored. 1.1590 now buoys.

    Res: 1.1672, 1.1694, 1.1730, 1.1782
    Sup: 1.1620, 1.1593, 1.1556, 1.1531

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