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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 21, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends near-term recovery phase off 1.1875, 2010 low, posted 07 Jun, with fresh high of 1.2468 reached earlier today. A higher platform at 1.2350 now underpins advance for a push to 1.2525/1.2560. Under 1.2350/39 would shift focus lower and expose 1.2240, 17 Jun low.

    Res: 1.2410, 1.2468, 1.2485, 1.2525
    Sup: 1.2339, 1.2315, 1.2240, 1.2162

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    GBP/USD

    Continues to trade within the hourly rising wedge, with scope now seen for fresh gains towards 1.4965, wedge resistance. Potential break here would expose 1.5000/50 next, while 1.4771 underpins. Medium-term outlook, however, keeps return to 1.4230 favored.

    Res: 1.4885, 1.4935, 1.5005, 1.5054
    Sup: 1.4771, 1.4747, 1.4718, 1.4644

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    USD/JPY

    Accelerated decline off 92.10, 14 June lower top, after break below triangle support at 91.08, to hit fresh low of 90.22 today. Strong recovery emerged, clearing 91.07, en-route to 91.49/81, strong resistance area. Break here is needed to confirm higher low and resume gains towards 92.10.

    Res: 91.49, 91.81, 91.95, 92.10
    Sup: 90.22, 89.80, 89.21, 88.95

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    USD/CHF

    Declines off the 1.1730, 01 Jun yearly high, extend through 1.1060/36 supports, to target next extension at 1.0924, with 1.0995 seen so far. Recovery attempt now under way, with 1.1092 been dented, but clear break here and through 1.1249 to signal stronger recovery. Otherwise, risk remains for lower top, ahead of fresh weakness.

    Res: 1.1154, 1.1249, 1.1290, 1.1348
    Sup: 1.1007, 1.0995, 1.0924, 1.0840

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