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Windsor Brokers - Short Term Technical Analysis for Majors (10:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 22, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Retraces over 38.2% of the latest1.4280/1.3446 downleg, also briefly breaking through 1.3775, 12 Nov high. Near-term studies remain supportive for further upside, with 1.3820/30 zone seen next, ahead of 1.3862, 50% retracement, and 1.3960/72, 61.8%/09 Nov high, where a lower top is expected, before fresh weakness. Loss of 1.3446 to trigger stronger correction, though, short-term bulls would remain intact while trendline off 1.1875 at 1.3204 and 200 day MA at 1.3137 hold.

    Res: 1.3784, 1.3830, 1.3862, 1.3960
    Sup: 1.3722, 1.3706, 1.3629, 1.3607

    [​IMG]


    GBP/USD
    Maintains near-term uptrend off 1.5838, after an upside failure at 1.6093 and sharp reversal that followed, found support at 1.5934, ahead of fresh strength. Immediate resistance now lies at 1.6065/93, main trendline off 1.6297/previous peak, break of which is required to continue recovery and expose 1.6185. Break here is needed to open way for retest of 16297, 2010 high, while failure risks return to weakness and exposes 1.5845 first and then key supports at 1.5878/38, trendline off 1.5295/16 Nov higher low.

    Res: 1.6093, 1.6123, 1.6152, 1.6185
    Sup: 1.5945, 1.5934, 1.5878, 1.5838

    [​IMG]


    USD/JPY
    Recovery from 80.24 has so far retraced 61.8% of 85.92/80.24 downleg, followed by current narrow consolidation. The recent break above key trendline resistance and 60 day MA, sees scope for fresh strength and above 83.77 to expose 83.97, then 85.38/92. Corrective dips should be contained by 81.94/64, 20 day MA/12 Nov low, to keep immediate bulls in play.

    Res: 83.55, 83.70, 83.97, 85.38
    Sup: 83.00, 82.83, 82.70, 82.32

    [​IMG]



    USD/CHF
    Undergoes near-term consolidation/correction following recent double failure just under parity level, also 23.6% retracement of 1.1730/0.9461 downmove. Immediate support lies at 0.9853, the recent range bottom, with possible extension to 0.9827/0.9775, where a higher low is anticipated, ahead of fresh push higher. Break through 1.0000 to expose 1.0044, 50% retracement of 1.0625/0.9461 downleg, possibly 1.0183, 17 Sep high/61.8% retracement. Downside, loss of 0.9720, 61.8%, 0.9546/0.9996 upleg, however, weakens the structure.

    Res: 0.9974, 1.0000, 1.0044, 1.0075
    Sup: 0.9853, 0.9824, 0.9795, 0.9775

    [​IMG]
     
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