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Windsor Brokers - Short Term Technical Analysis for Majors (14:15 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 29, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Bounce off 1.3114, fresh yearly low, remains so far capped by 1.3290, as rally stalled at 1.3277. Negative structure favors break through 1.3114 to focus 1.3090, possibly 1.2885 near-term. Only clearance of 1.3290 to allow stronger correction.

    Res: 1.3290, 1.3342, 1.3412, 1.3422
    Sup: 1.3181, 1.3141, 1.3114, 1.3090

    [​IMG]



    GBP/USD

    Recent break under trend-line support off 1.4797 negates the possibility of a double bottom at 1.4780/97. Scope is now seen for a short-term rise to create a lower high for a continuation of weakness. Regain of 1.5293, would delay immediate bears.

    Res: 1.5283, 1.5293, 1.5351, 1.5365
    Sup: 1.5141, 1.5124, 1.5042, 1.5004

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    USD/JPY

    Lower rejection at 92.80 on 27 Apr, confirmed the underlying bull structure. A break above 94.31/35, 26/28 Apr highs, will complete a multi week bull configuration that sights the 97.00 area. Only break below 92.80 would delay.

    Res: 94.35, 94.60, 94.77, 95.05
    Sup: 93.71, 93.37, 92.97, 92.80

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    USD/CHF

    Remains in uptrend from 1.0500, with break of hourly triangle on 27 Apr, triggering the latest rise that cleared key 1.0898 barrier, to reach 1.0922 yesterday. 1.0787/59 now offers support for fresh attempt at 1.0940 and 1.1026.

    Res: 1.0922, 1.0940, 1.0956, 1.0987
    Sup: 1.0787, 1.0759, 1.0698, 1.0674

    [​IMG]
     
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