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Windsor Brokers - Short Term Technical Analysis for Majors (09:20 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Oct 29, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Today’s upside rejection at 1.3950 and break of triangle support, further weakened the near-term structure, with loss of 1.3850 support, bringing 1.3733 back in focus, as the diamond reversal pattern suggests fresh weakness. Loss of 1.3696, key near-term support would open 1.3636, with return to 1.3500 zone not ruled out. To ease immediate bear pressure, regain of 1.3950 is required, though, only clearance of 1.4080 would re-expose 1.4156, and 1.4195 on a break.


    Res: 1.3950, 1.3980, 1.4050, 1.4080
    Sup: 1.3796, 1.3762, 1.3733, 1.3696

    [​IMG]



    GBP/USD
    Extends correction from 1.5649/51 double bottom after reversal from 1.5895 found support at 1.5729, ahead of fresh push higher. Break above 1.5895 resistance has so far seen 1.5976, with current pullback expected to leave higher low above 1.5865 to keep bulls in play. Clearance of 1.5976 opens way for final push towards key 1.6105 pivot.

    Res: 1.5976, 1.6002, 1.6031, 1.6105
    Sup: 1.5865, 1.5828, 1.5761, 1.5729

    [​IMG]



    USD/JPY
    Failure to sustain recovery above 81.91 and rejection at 81.97 has triggered strong reversal, bringing bears back in play. Market has so far reached 80.53, just above 80.40 annual low, with break here to expose 79.75, all time low, posted in 1995. Corrective attempts seen limited by 81.09 for now and potential break here would provide relief and allow stronger correction towards 81.40/62.

    Res: 80.85, 81.09, 81.40, 81.62
    Sup: 80.53, 80.40, 80.00, 79.75

    [​IMG]



    USD/CHF
    Recovery from 0.9461 low, broke above channel resistance, to extended gains to 0.9927, ahead of reversal. Temporary foothold was found at 0.9802, with upside break of 0.9927 needed to resume recovery. Otherwise, risk would be for retest of 0.9802 and below here to target 0.9765 channel support


    Res: 0.9927, 0.9963, 0.9983, 1.0014
    Sup: 0.9836, 0.9802, 0.9765, 0.9743

    [​IMG]
     
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