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Windsor Brokers - Short Term Technical Analysis for Majors (14:40 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 2, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Regains strength again after the latest upside rejection under 1.3860 barrier found footstep at 1.3742 today, leaving a higher low, ahead of rally and eventual break of 1.3860, key near-term resistance. Sustained break here opens way for fresh leg higher and exposes 1.40 zone near-term. At the downside, 1.3742 underpins the advance while loss of 1.37 would signal near-term top and fresh weakness ahead, with immediate focus at 1.3690/50.

    Res: 1.3863, 1.3884, 1.3900, 1.3974
    Sup: 1.3803, 1.3780, 1.3742, 1.3710

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    GBP/USD

    Pullback from yesterday’s double top at 1.6328, reached 1.6215, 38.2% retracement of 1.6030/1.6328 ascend, where good support was found for fresh push higher. Market has so far reached 1.6322, and while above 1.63, scope remains for fresh phase higher and gains towards 1.6456, Jan 2010 high. Immediate support lies at 1.6277, today’s spike low, while break below 1.6215 higher low will soften the structure.

    Res: 1.6246, 1.6280, 1.6298, 1.6328
    Sup: 1.6271, 1.6245, 1.6215, 1.6198

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    USD/JPY

    Attempts to build near-term base after finding support at 81.61 were capped by 82.23/06, ahead of fresh weakness. Break below 81.61/57, previous low / trendline support, will bring into focus 81.10/80.92, 04 Feb / 03 Jan lows, ahead of possible attempt at 80.24, 15 year low. At the upside, break above 82.23 is required to continue near-term correction, but clearance of 82.50/86 to confirm.

    Res:82.06, 82.23, 82.31, 82.85
    Sup: 81.61, 81.55, 81.10, 80.92

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    USD/CHF

    Returns to weakness after corrective attempt from fresh record low at 0.9221 was capped by 0.9320 zone, with loss of 0.9250, recent range floor, turning focus lower. Loss of 0.9221 will signal fresh phase lower and eye 0.91 level next. To ease immediate bear pressure, regain of 0.9320 and 0.9390 barriers is required.

    Res: 0.9279, 0.9320, 0.9390, 0.9430
    Sup: 0.9221, 0.9200, 0.9150, 0.9100

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