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Windsor Brokers - Short Term Technical Analysis for Majors (09:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 22, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains short-term positive tone from 1.4056, 05 Aug higher low, holding gains above bear trendline and channel ceiling, drawn off 1.4938, 04 May peak. Clearance of 1.4500 barrier has so far reached 1.4516, just ahead of 1.4536, 27 July high, clearance of which is required to open 1.4576, 04 July high, next. Near-term corrective phase from 1.4516 is under way, with 1.4258/40, last Friday’s low / bull trendline off 1.4056, expected to contain dips ahead of fresh push higher. Only loss of 1.4240/30, trendline support / Fib 61.8% of 1.4056/1.4516 ascend, would signal temporary top and open way for deeper reversal.

    Res: 1.4451, 1.4500, 1.4516, 1.4536
    Sup: 1.4294, 1.4258, 1.4240, 1.4230

    [​IMG]


    GBP/USD

    Corrects the short-term strong rally from 1.6110 that cleared previous highs at 1.6475 and 1.6546 and peaked at 1.6617 last Friday. Short-term structure remains positive while 1.6420, 18 Aug low / Fib 38.2% of 1.6110/1.6617 upleg holds. Fresh strength through 1.6617 is required to open way for test of key barrier at 1.6745, 28 Apr high. Near-term tone, however, needs to clear ¼ hour 20 day MA at 1.6500, to signal fresh gains ahead.

    Res: 1.6509, 1.6553, 1.6589, 1.6617
    Sup: 1.6470, 1.6454, 1.6443, 1.6420

    [​IMG]


    USD/JPY

    Maintains short-term negative tone after strong post-intervention rally that regained levels above 80.00, stalled and immediate reversal erased gains and returned to 76.30, record low zone. Subsequent narrow range consolidation has preceded last Friday’s spike below 76.00 that posted fresh record low at 75.93, confirms negative structure, however, today’s higher opening and brief break above 77.00 barrier, may signal stronger recovery ahead of fresh bears, as near-term structure remains positive while above 76.55, today’s low / 20 day MA.

    Res: 76.86, 76.96, 77.30, 77.84
    Sup: 76.55, 76.45, 76.30, 75.93

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    USD/CHF

    Short-term structure remains positive after bounce from 0.7067, 09 Aug fresh record low, regained 0.8000 barrier and retraced over 61.8% of 0.8520/0.7067 decline at 0.8013. Current consolidation needs to hold above 0.7800/0.7770, to keep immediate scope for fresh attempt through 0.8013 and focus 0.8075 next. Loss of 0.7770, however, would open way for deeper reversal and risk lower top in case of break below 0.7550.

    Res: 0.7902, 0.7958, 0.7987, 0.8013
    Sup: 0.7838, 0.7800, 0.7770, 0.7700

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