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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Break through 1.30 psychological support has so far reached 1.2968, ahead of bounce. This is seen corrective while 1.3149 caps, with lower top expected below here to keep immediate bears in play. Below 1.2968 to expose 1.2916, 06 Sep high, then 1.2791, 61.8% retracement of 1.1875/1.4280 upleg. Only break above 1.3149 to allow for stronger correction and open 1.3277/1.3300.

    Res: 1.3135, 1.3149, 1.3181, 1.3200
    Sup: 1.2968, 1.2955, 1.2920., 1.2916

    [​IMG]



    GBP/USD
    Dipped to 1.5483, following break below 1.5649 key support, to test 6 month rising trendline, ahead of corrective attempt. Immediate resistance lies at 1.5645/49, with break higher to open way for fresh correction towards 1.5711, 38.2% retracement of 1.6083/1.5483 decline, possibly 1.5780/1.5800 zone. Below 1.5483 to focus 1.5448.

    Res: 1.5649, 1.5705, 1.5725, 1.5745
    Sup: 1.5500, 1.5483, 1.5448, 1.5344

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    USD/JPY
    Reversal from 84.39, fresh high, broke below initial supports at 83.83/77, to reach 83.37 low so far. This may signal a near-term top and soften the near-term outlook for further correction, with 83.00, then 82.81/71 seen next. Upside, regain of 84.18/39 is needed to resume recovery off 80.24.

    Res: 83.88, 84.10, 84.39, 84.58
    Sup: 83.37, 82.93, 82.81, 82.71

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    USD/CHF
    Yesterday’s rejections at 0.9924/33 spike lows confirmed the bulls from 0.9847, with break through 1.0044/52, the latest consolidation ceiling, now focusing 1.0116, possibly 1.0181 on a break. Immediate support lies at 0.9998.

    Res: 1.0075, 1.0116, 1.0150, 1.0181
    Sup: 0.9998, 0.9933, 0.9924, 0.9896

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