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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 31, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Corrective rally from 1.3266, 25 Mar low, has so far been capped by 1.3536, just ahead of 1.3540, 50% retracement of 1.3816/1.3266 downleg. Reversal off 1.3536 reached 1.3383 low today, ahead of fresh strength. Break through is required to resume recovery to attempt at key 1.3570 level. Early upside rejection, however, risks lower top ahead of fresh weakness. 1.3383/44 offer initial support, while loss of 1.3266 would continue a broader downtrend.

    Res: 1.3536, 1.3540, 1.3570, 1.3605
    Sup: 1.3383, 1.3370, 1.3344, 1.3266

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    GBP/USD

    Extended correction of the 1.5380/1.4797 downleg, breaking through 1.512365, trendline resistance/19 Mar high, to retrace over 61.8% at 1.5185 today. Positive hourly studies see scope for further gains towards 1.5215/55, with correction on oversold conditions expected to precede the fresh upleg. 1.5042/18 support for now.


    Res: 1.5185, 1.5215, 1.5255, 1.5278
    Sup: 1.5042, 1.5018, 1.4975, 1.4955

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    USD/JPY

    Yesterday’s completion of a bull flag has triggered a continuation of near-term uptrend, with clearance of 92.94, current range ceiling, extending gains to 93.59 thus far. Correction is now under way, ahead of fresh push higher, with 93.75, 08 Jan 2010 high now seen key. Break above the latter there would attract 94.05, 28 Aug 09 high. 92.74 offer immediate support and only below 92.11 to delay immediate bulls.

    Res: 93.59, 93.75, 94.05, 94.30
    Sup: 92.74, 92.45, 92.11, 91.75

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    USD/CHF

    Rally from 1.0585, yesterday’s higher low, stalled at 1.0682, just below 1.0688 key resistance, today, ahead of fresh weakness. Recent break under 1.0599, trendline support and 1.0585/75, has triggered further losses, to probe 1.0545/32, 23/18 Mar low, ahead of possible attempt at key 1.0505. Upside remains capped by 1.0682/88 for now.

    Res: 1.0585, 1.0634, 1.0682, 1.0688
    Sup: 1.0532, 1.0505, 1.0497, 1.0485

    [​IMG]
     
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