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Short Term Technical Analysis for Majors (09:00 GMT)

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Short Term Technical Analysis for Majors (09:00 GMT)

Postby WindsorBrokers » Tue Aug 07, 2012 7:28 am

EUR/USD
The single currency remained below Medium term barrier after a break during yesterdays Monday opening, however, it has not managed to drop lower than 1.2330. Price action is expected to remain neutral unless a moment is build in above 1.2420 to open 1.2505 first zone. A break there would open targets of 1.2555 and 1.2625. on the downside a drop below 1.2330 would open 1.2290, 50% Fibo of 1.2130/1.2442.

Res: 1.2420, 1.2440, 1.2505, 1.2555
Sup: 1.2330, 1.2290, 1.2215, 1.2160

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GBP/USD
Trading in neutral trend, cable managed to reach as high as 1.5642 ahead of resistance level of 1.5650, this resistance would open further to the upside for a test of 1.5690 and 1.5730, ahead of medium term barrier of 1.5770. The downside is protected by 1.5560 in which would open 1.5520 and 1.5490 next, the downside medium term barrier remain at 1.5400

Res: 1.5650, 1.5690, 1.5730, 1.5770
Sup: 1.5560, 1.5520, 1.5490, 1.5455

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USD/JPY
The remains in neutral territory after a drop of 78.70 zone were a false break was made few pips higher that the higher territory, however, still maintained by 77.90/95 zone low of 23ed July and 1st Aug, were if broken a drop is expected to 77.65 low of 1st of Jun. a break of 78.70 would open the upside to 79.10 and 80.00 next.

Res: 78.70, 79.10, 80.00, 80.60
Sup: 77.90, 77.65, 77.10, 76.40

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Crude Oil
After penetrating 90.30 zone Oil managed to remain in the high territory for a test of 92.20 zone, a correction should be maintained by 90.30 and a break would open 89.40 zone, below 86.90 opens a negative direction. On the upside, clearing of 92.20 would open the upside for a test of 93.25 and 95.15 next.


Res: 92.20, 93.25, 94.45, 95.15
Sup: 90.30, 89.40, 88.35, 86.90

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Gold
Remaining in a side way trend on the Medium term between 1640 and 1530, while currently trading near the higher side of the chart gives the up side a possibility for a further rise to 1618 which would open a test of 1630/40 zone. On the downside, a break of 1605 would open further drop to 1597 and 1584 next, in which a break would allow bears to target 1566 zone.

Res: 1618, 1628, 1635, 1640
Sup: 1605, 1597, 1584, 1566

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