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Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 4, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Extended losses from 1.3860 fresh high, after initial consolidation within narrow 1.3610/30 range, to briefly break through key near-term support at 1.3570. Immediate tone remains bearish, favoring break below 1.3570 to focus 1.3480, 38.2% of 1.2872/1.3860 ascend, next. Only regain of 1.3700/50 would ease near-term bear pressure.

    Res: 1.3640, 1.3657, 1.3700, 1.3724
    Sup: 1.3570, 1.3539, 1.3480, 1.3430

    [​IMG]



    GBP/USD
    Dips further after pullback from 1.6277, yesterday’s high, initially reached 1.6120, followed by short consolidation. Fresh weakness extended losses through 1.6076, 38.2% retracement of 1.5750/1.6277 ascend, to reach 1.6063 so far. Near-term studies are bearish, looking for further decline, to target key near-term support zone at 1.60, loss of which would signal an end of recovery attempt from 1.5750/1.5821.However, correction may precede fresh bears, as hourly studies entered oversold area.

    Res: 1.6120, 1.6149, 1.6174, 1.6228
    Sup: 1.6063, 1.6015, 1.6002, 1.5989

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    USD/JPY
    Continues to trade within 81.30/82.00 range, despite today’s spike low at 81.10. Upside, however, remains limited by 82.00 and while below here, immediate focus is at 81.30 and key short-term support at 80.92. Only break above 82.00/25 zone to signal further recovery and open 82.50/83.00 zone next.

    Res: 81.93, 82.05, 82.24, 82.50
    Sup: 81.39, 81.30, 81.10, 80.92

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    USD/CHF
    Remains in a corrective mode after decline from 0.9782 found temporary support at 0.9327, just above key historical low at 0.9301. Today’s fresh bulls extended gains to clear 50% of 0.9782/0.9327 decline at 0.9555, with immediate scope seen for extension higher and attempt at 0.9607/21, 61.8% / 24 Jan high, break of which is needed to re-focus 0.9782 short-term. Over-extended hourly conditions, however, see potential for correction preceding fresh strength. Only loss of 0.9450 to weaken near-term structure.


    Res: 0.9564, 0.9607, 0.9621, 0.9685
    Sup: 0.9514, 0.9460, 0.9446, 0.9420

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