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Windsor Brokers - Short Term Technical Analysis for Majors (09:45 GMT)

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Extends the near-term uptrend from 1.3733, after an upside rejection at 1.3950 found support at 1.3806 on Friday, ahead of fresh strength. Clearance of 1.3950 has so far tested 1.4010, trendline resistance connecting 1.4156/1.4080. Break here is needed to resume recovery towards 1.4080 and possible retest of key near-term resistance at 1.4156, break of which will signal a continuation of broader bull-trend and expose 1.4195 next. Downside, 1.3806/1.3796 zone underpins the advance.

    Res: 1.4010, 1.4050, 1.4080, 1.4156
    Sup: 1.3892, 1.3871, 1.3842, 1.3806

    [​IMG]


    GBP/USD
    Extends the latest strength from 1.5649/51, en-route to key near-term resistance at 1.6105. Sustained break here would signal resumption of the uptrend from 1.4230 and open 1.6177, then 1.6285, 29/22 Jan highs. Meantime, correction before final push higher, is likely, with 1.5895/1.5876 expected to hold, and only loss of the latter to delay bulls and re-open 1.5650.

    Res: 1.6105, 1.6177, 1.6230, 1.6285
    Sup: 1.5989, 1.5976, 1.5952, 1.5895

    [​IMG]



    USD/JPY
    Returns to weakness after today’s rejection at spike high at 81.59. This marked a lower top under 81.97, with sharp reversal followed. Loss of fresh yearly low at 80.24 will focus 79.75 historical low of 1995, next. Upside, only regain of 81.97 would provide relief.

    Res: 81.13, 81.59, 81.69, 81.97
    Sup: 80.24. 80.00, 79.75, 79.50

    [​IMG]



    USD/CHF
    Remains in a consolidative mode after recovery off 0.9461 stalled at 0.9927. Market now trades within 0.9802/0.9927 range, with increased risk of break under 0.9802 to signal an end of the recovery phase. Holding above 0.9802, however, keeps focus higher and potential break through 0.9927 to expose 0.9983 and indicate break above 1.0000.


    Res: 0.9908, 0.9927, 0.9963, 0.9983
    Sup: 0.9802, 0.9765, 0.9743, 0.9704

    [​IMG]
     
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