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Windsor Brokers - Short Term Technical Analysis for Majors (10:20 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 9, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Keeps the focus lower, following reversal from 1.4280, with losses reaching 1.3822 thus far. Trendline support, currently at 1.3793, is seen first, ahead of 1.3733, 27 Oct higher low and key near-term support at 1.3696. Loss of the latter would confirm top and suggest stronger correction. Upside, 1.3990/1.4020 zone is expected to cap, while regain of 1.4085 needed to ease bear pressure.

    Res: 1.3949, 1.3976, 1.4083, 1.4185
    Sup: 1.3807, 1.3793, 1.3762, 1.3733

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    GBP/USD
    Currently trading within a narrow range after today’s rejection above yesterday’s 1.6065 low. 1.6165 limits the upside for now, with break here needed to trigger recovery and expose 1.6259, ahead of potential retest of key 1.6297/1.6321, 04 Nov high/trendline resistance. Loss of 1.6065, however, would signal further decline and open 1.6052 Fibonacci level and 1.6031/05 lows.

    Res: 1.6165,1.6207, 1.6259, 1.6297
    Sup:1.6065, 1.6031, 1.6005, 1.5960

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    USD/JPY
    Corrective/consolidative phase off 80.24, fresh yearly low, remains capped by 81.59/57, as the latest attempt higher failed at 81.46. Higher platform at 80.57 supports for now, with break through 81.59 and 81.97, 27 Oct high, needed to extend recovery. However, underlying bear trend favors lower top, ahead of fresh weakness through 80.57/24, to expose key long-term support and historical low of 79.75.

    Res: 81.24, 81.46, 81.59, 81.97
    Sup: 80.57, 80.45, 80.24, 79.75

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    USD/CHF
    Recovery off 0.9461, 14 Oct annual low, stalled at 0.9969, just under 60 day MA, ahead of strong reversal, with 0.9546 low seen so far, near 76.4% retracement of 0.9461/0.9969 upleg. Recovery attempt is so far limited by 0.9680, with fresh weakness looking for test of 0.9546, break of which would open 0.9483/61 next.

    Res: 0.9680, 0.9693, 0.9735, 0.9768
    Sup: 0.9600, 0.9546, 0.9483, 0.9461

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