Forex Forum to Share, Discuss, Communicate and Trade Forex

Short Term Technical Analysis for Majors (07:00 GMT)

Fore Technical analysis from WindsorBrokers
Image

Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Thu Sep 06, 2012 11:05 am

EUR/USD

The Euro maintains positive sentiment, re-established yesterday after bouncing from the lower boundary at 1.2500. Overnight’s consolidation around 1.2600 level and fresh strength that is under way, keeps strong barrier at 1.2626/36 in focus for possible bullish breakout and extension of 5-week rally and expose 1.2680/1.2700. Near-term studies remain supportive, however, as the pair is driven by news and fundamentals, main focus is on today’s ECB’s release, leak of which has already been priced in and more focus seen on tomorrow’s US jobs data. Overnight’s base at 1.2590 offers initial support, along with 20 day EMA, while only loss of 1.2560/50 would signal further congestion.

Res: 1.2636, 1.2650, 1.2680, 1.2700
Sup: 1.2600, 1.2590, 1.2560, 1.2550

Image



GBP/USD

Cable holds near-term positive tone, following yesterday’s bounce from trendline support at 1.5825 that resulted in break above 1.5900 resistance zone, previous top / Fib 61.8% of 1.6300/1.5267 and posting fresh 3 ½ month high at 1.5933. Yesterday’s close at 1.5900 gives additional support. However, more sideways movements on 1 and 4h chart studies, do not rule out further consolidation, before fresh push higher, as break above yesterday’s high is required to open 1.6000 barrier. Good supports lie at 1.5890/50, ahead of 1.5835, trendline support, loss of which would sideline near-term bulls.

Res: 1.5933, 1.5950, 1.5984, 1.6000
Sup: 1.5900, 1.5890, 1.5850, 1.5835

Image


USD/JPY

The pair turned into sideways trade, moving within newly established 78.30/46 range. As the downside remains protected for now and recent gains were limited at 78.55, with flat hourly studies, no significant action to be expected in the near-term. Break of range limits at 78.00 or 78.80, is required to signal fresh direction.

Res: 78.46, 78.55, 78.60, 78.83
Sup: 78.37, 78.29, 78.20, 78.15

Image



USD/CHF

Near-term price action remains entrenched within narrowing range, as yesterday’s upside rejection under important 0.9615/3 barriers and subsequent sharp slide, keep the downside favored. Near-term studies are in negative/neutral mode, while larger picture’s bears remain in play and favor retest of strong 0.9500 support, for possible resumption of larger downtrend from 0.9970. On the upside, break above 0.9615 and 0.9635, previous high / trendline resistance, would revive near-term bulls for possible stronger recovery.

Res: 0.9565, 0.9580, 0.9606, 0.9615
Sup: 0.9541, 0.9528, 0.9507, 0.9500

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], Google Adsense [Bot], Yahoo [Bot]