1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Windsor Brokers - Short Term Technical Analysis for Majors (08:50 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Oct 21, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Joined:
    Feb 18, 2010
    Messages:
    948
    Likes Received:
    1
    EUR/USD
    Reversal from 1.4156 found support at 1.3696 yesterday, with strong bounce followed by bullish engulfing candle. Market has retraced over 61.8% of 1.4156/1.3696 decline, with the latest break above 1.4003, now confirm underlying bull-trend and looking for test of 1.4156. Downside, 1.3871/22 zone offers support, while loss of 1.3696 would trigger stronger correction.

    Res: 1.4093, 1.4121, 1.4156, 1.4195
    Sup: 1.3871, 1.3822, 1.3800, 1.3753

    [​IMG]


    GBP/USD
    Yesterday’s break below trendline support at 1.5720 has triggered a dip to 1.5649, indicating further weakness. Bounce off 1.5649 retraced 50% of 1.6105/1.5649 downleg, ahead of reversal. However, break below 1.5649 is required to resume decline off 1.6105 and expose 1.5610/02, Sep lows/61.8% retracement of 1.5295/1.6105 upleg, while holding above 1.5649 may signal fresh attempt higher, though break above 1.5877 is needed to sustain gains for test of 1.5941, above which would focus key 1.6105 resistance.

    Res: 1.5821, 1.5877, 1.5897, 1.5941
    Sup: 1.5726, 1.5700, 1.5680, 1.5649

    [​IMG]


    USD/JPY
    Reached a marginal fresh yearly low at 80.83 yesterday, though this area continues to hold. Overnight’s strong rally failed just below 81.91 resistance, keeping the negative structure, with historical low at 79.75 seen as near-term primary target. Sustained break above 81.91 and more important 82.34 resistance, would ease immediate bear pressure and signal stronger correction.

    Res: 81.81, 81.91, 82.34, 82.57
    Sup: 80.83, 80.50, 80.00, 79.75

    [​IMG]



    USD/CHF
    Correction off 0.9461, all-time low, stalled 0.9755 yesterday, just below of 0.9788, 04 Oct high, with strong reversal to 0.9569 followed. Bounce of here needs to clear 0.9679, with break above 0.9755 required to resume corrective phase. Otherwise, loss of 0.9569 would signal a continuation of the underlying bear-trend and expose 0.9461 for retest.


    Res: 0.9679, 0.9690, 0.9726, 0.9755
    Sup: 0.9569, 0.9555, 0.9539, 0.9483

    [​IMG]
     
Loading...

Share This Page