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Windsor Brokers - Short Term Technical Analysis for Majors (09:15 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Failed to clearly break above 3-months falling trendline resistance, triggering reversal to 1.3639, just ahead of key 1.3620 support. Break there would increase risk of near-term bear resumption and expose 1.3545/30 area next. Only regain of 1.3703 would firm the tone.

    Res: 1.3703, 1.3728, 1.3760, 1.3798
    Sup: 1.3639, 1.3620, 1.3595, 1.3545

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    GBP/USD

    Shorter-term structure has broken below yesterday's 1.5018 low triggering a larger bear continuation pattern and breaching 61.8% of the prior 1.4871/1.5217 ascend. A return back over 1.5150 defers bears.

    Res: 1.5085, 1.5150, 1.5194, 1.5208
    Sup: 1.4945, 1.4925, 1.4871, 1.4855

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    USD/JPY

    Extended bull phase off 88.13, 4 Mar low, to stall at 91.08 just below 91.24, trendline resistance. Immediate support was found at 89.98, near 38.2% retracement of 88.13/91.08 ascend. Break above 90.55 would firm for a further gains towards 90.78/91.08, while 89.96/62 underpins.

    Res: 90.55, 90.85, 91.08, 91.35
    Sup: 89.97, 89.80, 89.62, 89.45

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    USD/CHF

    Last week’s break below key supports has triggered a fresh weakness to reach 1.0575 so far. Minor corrective attempt from there has so far stalled at 1.0641. Lower top is now sought for fresh extension towards 1.0515, 50% retracement. Upside, 1.0642/76 offers initial resistance.

    Res: 1.0646, 1.0676, 1.0697, 1.0729
    Sup: 1.0575, 1.0541, 1.0515, 1.0497

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