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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 13, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Shallow reversal from yesterday’s 1.3143 high was contained by 1.3080 zone, ahead of strong rally. Break through 1.3200/17 barriers has triggered sharp rally, eyeing 1.3290, then 1.3320/30 zone for retest. Hourly studies remain bullish, but overbought, with correction expected to precede fresh rally. Today’s higher low at 1.3088 is now key near-term support.

    Res: 1.3289, 1.3330, 1.3378, 1.3415
    Sup: 1.3188, 1.3143, 1.3088, 1.3055

    [​IMG]



    GBP/USD
    Sustained break above 1.5659 resistance cleared 1.5800 level, now focusing 1.5910, key short-term lower top for retest. Break of the latter will confirm short-term bottom at 1.5343 and open way towards 1.60/1.61 zone. Failure under 1.5910, however, would signal a resumption of broader downtrend from 1.6297 peak.


    Res: 1.5861, 1.5910 , 1.5927, 1.5965
    Sup: 1.5779, 1.5717, 1.5680, 1.5581

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    USD/JPY
    Fresh weakness followed an upside rejection at 83.48, breaking briefly through 82.67, key near-term support. Holding below the latter weakens near-term outlook and opens further reversal towards 82.30/00 zone. Upside, regain of 83.13/45 is needed to turn focus back to 83.67/84.49.

    Res: 83.13, 83.48, 83.67, 83.90
    Sup: 82.53, 82.30, 82.00, 81.87

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    USD/CHF
    Today’s upside attempt failed at 0.9762, just under 0.9782 recovery peak, with subsequent reversal extending losses through 0.9659, initial support. Immediate focus is now at 0.9628 and 0.9594, key near-term support, loss of which would open way for stronger reversal of 0.9301/0.9782 upleg.

    Res: 0.9659, 0.9687, 0.9735, 0.9762
    Sup: 0.9628, 0.9594, 0.9540, 0.9515

    [​IMG]
     
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