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Windsor Brokers - Short Term Technical Analysis for Majors (08:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Oct 1, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Clearance of 1.3690 pivot and positive studies open further upside, with 1.3800/16, 161.8% Fibonacci extension of 1.3332/1.2586 downleg/ March high, seen next. Downside, 1.3571/58 expected to hold corrective dips and possible break here to delay bulls.

    Res: 1.3730, 1.3741, 1.3780, 1.3800
    Sup: 1.3602, 1.3571, 1.3555, 1.3520

    [​IMG]



    GBP/USD

    Upside rejection at 1.5921 has triggered sharp reversal through 1.5761/17 supports, to reach 1.5668, ahead of current bounce. This is seen corrective while 1.5921 remains intact and risks lower top for fresh weakness for retest of 1.5610/02 zone. Only above 1.5921 firms for 1.5997.

    Res: 1.5824, 1.5873, 1.5894, 1.5921
    Sup: 1.5702, 1.5668, 1.5640, 1.5610

    [​IMG]



    USD/JPY

    Maintains negative tone from 85.92/38, 17 Sep high/24 Sep lower high, with break below 83.55, 76.4% retracement of 82.86/85.92 upleg, now looking for retest of 82.86, year-to-day low. Break here would trigger further weakness and expose 81.77, May 1995 low. Upside, 83.63/80 caps for now.

    Res: 83.63, 83.80, 84.07, 84.33
    Sup: 83.15, 82.86, 82.30, 81.77

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    USD/CHF

    Extended decline off 1.0181 to post fresh low of 0.9706, ahead of bounce. 0.9841 seen so far, though break above 0.9800/30 is needed to ease bear pressure and open way for stronger recovery. Otherwise, break below 0.9706 will look for test of 0.9630 initially.

    Res: 0.9841, 0.9876, 0.9900, 0.9930
    Sup: 0.9766, 0.9749, 0.9732, 0.9706

    [​IMG]
     
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