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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 12, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Strength off 1.2872 reached fresh high at 1.3044 today, ahead of reversal. This is seen corrective while 1.2940 holds, with break higher to focus key 1.3085 resistance, break of which opens 1.3150/1.3215. Loss of 1.2940, however, weakens the tone and focuses 1.2904/1.2872.

    Res: 1.3018, 1.3044, 1.3054, 1.3085
    Sup: 1.2960, 1.2943, 1.2904, 1.2872

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    GBP/USD
    Break above near-term triangle pattern and brief break above key near-term resistance at 1.5659, increases hopes of further recovery from 1.5343, with immediate focus on 1.5692, 61.8% retracement of 1.5910/1.5343 downleg. Upside, 1.5910 remains key, with break here to signal higher low at 1.5343 and opens way for further retracement of 1.6297/1.5343 decline. Today’s rejection at 1.5680 has seen a drop to 1.5581, with fresh strength followed. Immediate scope is for renewed attempt through 1.5680, while 1.5511/1.5474 remains intact.

    Res: 1.5659, 1.5692, 1.5714, 1.5770
    Sup: 1.5581, 1.5511, 1.5474, 1.5424

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    USD/JPY
    Continues to trade in a consolidative mode after the pullback from 83.67 high found support at 82.67. Yesterday’s rejection at 83.48, just under 83.67 peak, warns of fresh weakness, with break under 82.67/62, yesterday’s low / 38.2% retracement of 80.92/83.67 upleg, needed to confirm and open 82.30, 50% / 04 Jan high, possibly 81.97, 61.8%, loss of which would signal an end of corrective phase from 80.92. Upside break through 83.48/67, however, resumes recovery and opens 83.90/84.19.

    Res: 83.48, 83.67, 83.90, 84.19
    Sup: 82.89, 82.67, 82.62, 82.30

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    USD/CHF
    Maintains uptrend from 93.01 after reversal from 0.9706 found support at 0.9594 and fresh strength extended through 0.9706 to 0.9782 so far. This marks over 61.8% of 1.0064/0.9301 downleg, with immediate focus on 0.9850, 13 Dec 10 high and 0.9882, 76.4% retracement, then 0.9913, 08 Dec 10 high. Corrective pullbacks should be contained by 0.97 zone to keep immediate bulls in play, while loss of 0.9592 delays.

    Res: 0.9754, 0.9782, 0.9815, 0.9850
    Sup: 0.9700, 0.9658, 0.9594, 0.9515

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