1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 5, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Joined:
    Feb 18, 2010
    Messages:
    948
    Likes Received:
    1
    EUR/USD

    Today’s upside rejection at 1.4900 has seen sharp reversal, breaking through 1.4804/1.4750 supports, to extend losses to 1.4676 so far and marking near 61.8% retracement of 1.4492/1.4938 ascend. Next strong support lies at 1.4646/30, with potential break here to put short-term bulls on hold, in favor of deeper setback towards 1.4500, key short-term support zone. Hourly RSI in overbought zone suggests corrective bounce, with immediate resistance at 1.4750.

    Res: 1.4712, 1.4754, 1.4770, 1.4804
    Sup: 1.4676, 1.4646, 1.4630, 1.4597

    [​IMG]



    GBP/USD

    Remains on a back foot after upside attempt from 1.6480 stalled below 1.6573, previous high, leaving lower top at 1.6542, ahead of fresh weakness. This is now testing key short-term support at 1.6430, loss of which would signal further extension of downleg from 1.6745 and open 1.6385, 61.8% Fibonacci retracement of 1.6165/1.6745 ascend. Holding above 1.6430, however, would keep hopes of fresh strength alive, but break above 1.6542/73 is needed to confirm.

    Res:1.6500, 1.6542, 1.6573, 1.6585
    Sup: 1.6441, 1.6430, 1.6385, 1.6306

    [​IMG]



    USD/JPY

    Extends the downtrend after losing key supports at 80.00/79.80, psychological support / 61.8% retracement of 76.32/85.50 upleg, to post fresh low at 79.55. This ends hopes of fresh recovery and opens way towards 79.00 zone next. Oversold hourly studies, however, see scope for correction, with immediate resistance at 80.69/81.00 zone.

    Res: 80.00, 80.69, 81.00, 81.25
    Sup: 79.55, 79.06, 78.82, 78.54

    [​IMG]



    USD/CHF

    Corrective attempt from 85.50 historical low has regained first resistance at 0.8646, extending towards key near-term resistance zone at 0.8670/0.8700 break of which is needed to pick-up fresh recovery and open 0.8760/0.8830 zone next. Hourly 20 day MA, currently at 0.8600, supports the advance.

    Res: 0.8670, 0.8700, 0.8760, 0.8800
    Sup : 0.8648, 0.8575, 0.8550, 0.8500

    [​IMG]
     
Loading...

Share This Page