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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 5, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Upside rejection at 1.3431 has triggered sharp reversal with today’s loss of key near-term support at 1.3249 accelerating losses. Key short-term supports at 1.3100/1.3085, trendline connecting 1.2968 and 1.3054 / 200 day moving average, are now in focus, break of which will look for retest of 1.2968, 30 Nov higher low pivot. Immediate cap lies at 1.3249, now reverted to resistance.

    Res: 1.3249, 1.3278, 1.3289, 1.3318
    Sup: 1.3107, 1.3100, 1.3085, 1.3054

    [​IMG]



    GBP/USD
    Upside so far remains capped by 1.5659 after yesterday’s renewed attempt higher stalled at1.5644, and today’s rally off 1.5535 higher low stalled at 1.5626. While holding below these levels, immediate risk is turned lower, though loss of 1.5497 trendline support and 1.5433 higher low is needed to confirm and open 1.5366/43 zone for retest.


    Res: 1.5535, 1.5578, 1.5626, 1.5644
    Sup: 1.5497, 1.5453, 1.5433, 1.5417

    [​IMG]



    USD/JPY
    Extends recovery off 80.92, 03 Jan low, after yesterday’s corrective pullback from 82.27 found support at 81.67. Fresh strength emerged from the latter, acceleration on a break above 82.27, to exceed 82.94 resistance and retracing over 50% of 84.49/80.92 downleg. Next target lies at 83.12, 61.8%, with lift above here to possibly re-focus 84.49. Support zone lies at 82.27/81.67.

    Res: 83.12, 83.38, 83.70, 83.90
    Sup: 82.52, 82.27, 81.87, 81.67

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    USD/CHF
    Break above yesterday’s 0.9515 high and 0.9531, 29 Dec high, has accelerated gains from 0.9301/06 all-time lows. Market is approaching next barriers at 0.9644 and 0.9681, 50% of 1.0064/0.9301 decline, ahead of 60 day MA at 0.9740 and 61.8% at 0.9770. Today’s minor higher platform at 0.9467 offers immediate support.

    Res: 0.9612, 0.9644, 0.9681, 0.9740
    Sup: 0.9531, 0.9482, 0.9467, 0.9429

    [​IMG]
     
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