Forex Forum to Share, Discuss, Communicate and Trade Forex

Short Term Technical Analysis for Majors (08:00 GMT)

Fore Technical analysis from WindsorBrokers
Image

Short Term Technical Analysis for Majors (08:00 GMT)

Postby WindsorBrokers » Fri Mar 25, 2011 8:28 am

EUR/USD

Returns to strength after pullback from 1.4247 was contained at 1.4050/40 support zone, 17 Mar high/18 Mar lows, also near 50% retracement of 1.3867/1.4247 upleg. Key near-term barrier at 1.4213, 23 Mar lower top has been tested, ahead of the latest consolidation just under 1.42 level. Break above 1.4213/18 is now required for retest of 1.4247, above which will look for test of key barriers at 1.4280, 04 Nov 2010 high / major bear trendline connecting 1.6039 and 1.5140 peaks. However, risk of failure to clear 1.4213 still exists, with possible return to 1.4100/1.4050 not ruled out.

Res: 1.4213, 1.4218, 1.4247, 1.4280
Sup: 1.4150, 1.4105, 1.4094, 1.4052

Image



GBP/USD

Continues to trend lower on reversal from fresh high at 1.6400, losing 61.8% retracement level of 1.5959/1.6400, to hit 1.6091 low thus far. Corrective attempts should be capped by 1.6215, ahead of fresh leg lower to target 1.6065, 55 day MA and 1.6059, 18 Mar low, before final push towards 1.5959, the recent range bottom. At the upside, break above 1.6215 opens 1.6270, above which 1.64 comes in focus.


Res: 1.6148, 1.6194, 1.6215, 1.6270
Sup: 1.6091, 1.6065, 1.6059, 1.6018

Image



USD/JPY

Continues to trade in a narrow range after sharp recovery off 79.25 record low peaked at 82.00. Downside remains supported by 80.57, Friday’s low / 20 day MA, for now, with clearance of 81.30, range ceiling and 82.00 needed to resume recovery. 82.66, 90 day MA on a daily chart, and 83.30, 11 Mar high, are seen on a break. However, loss of 80.57 will signal fresh weakness under 80.00 handle. Longer-term outlook remains bearish.

Res: 81.31, 81.74, 81.98, 82.41
Sup: 80.69, 80.57, 80.16, 80.00

Image



USD/CHF

Maintains positive tone after pullback from 0.9122, yesterday’s fresh recovery high, found support at 0.9027. Renewed strength above 0.91 looks for clearance of 0.9122/39 to resume recovery towards 0.9187/0.9200, 61.8% retracement of 0.9367/0.8900 downleg / 02 Mar low, break of which will expose key short-term barrier at 0.9367. Higher low at 0.9027 underpins the advance, while loss of 0.8976/61 support zone, will signal bears back in play.

Res: 0.9122, 0.9139, 0.9200, 0.9250
Sup: 0.9075, 0.9050, 0.9027, 0.9000

Image
User avatar
WindsorBrokers
Senior Member
 
Posts: 504
Joined: Wed Jan 12, 2011 1:42 pm

Return to WindsorBroker Daily Fx Analysis

 

Who is online on Forum

Registered users: Baidu [Spider], Bing [Bot], Google [Bot], Joy Bahadur, l3imadi, Yahoo [Bot]