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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 11, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Corrective attempt from 1.2872 remains capped by overnight’s high of 1.2988 for now. However, while 1.3085, 61.8% retracement of 1.3431/1.2872 downleg and 200 day MA holds, immediate scope remains for fresh weakness through 1.2872 to target 1.2795, possibly 1.2702 on a break.

    Res: 1.2988, 1.3020, 1.3054, 1.3085
    Sup: 1.2910, 1.2872, 1.2828, 1.2795

    [​IMG]


    GBP/USD
    Attempts towards the upper triangle limit at 1.5598 after finding fresh support at 1.5511 today. Near-term succession of higher lows keeps the upside in focus, with break through 1.5598 and 1.5644/59 needed to resume recovery phase off 1.5343. Immediate support lies at 1.5525/11, ahead of 1.5474 and key near-term support at 1.5404.

    Res: 1.5601, 1.5626, 1.5644, 1.5659
    Sup: 1.5554, 1.5526, 1.5511, 1.5474

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    USD/JPY
    Extended reversal following an upside rejection at 83.67, breaking through 82.84 support to reach 82.67, just above 38.2% of 80.92/83.67 upleg. Fresh push higher is so far holding below 83.27, and failure to break higher would re-focus 82.67/62, break of which to open 82.30/81.98, 50% / 61.8% retracement of 80.92/83.67 ascend. Lift above 83.27, however, to attract 83.67 retest.

    Res: 83.15, 83.27, 83.38, 83.67
    Sup: 82.67, 82.62, 82.30, 82.20

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    USD/CHF
    Narrow consolidation off 97.06, 06 Jan high, remains supported by 0.9594, with fresh attempts higher brieflyextending above 0.9706. Sustained break here is needed to signal an extension of recovery from 0.9301 and focus 0.9771, 61.8% Fibonacci retracement of 1.0064/0.9301 downleg, next. Only loss of 0.9594 would delay and allow for stronger pullback towards 0.9532/15.

    Res: 0.9724, 0.9732, 0.9771, 0.9815
    Sup: 0.9627, 0.9608, 0.9594, 0.9552

    [​IMG]
     
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