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 » Wed Apr 20, 2011 7:38 am

EUR/USD

Extends rally from 1.4156 higher low, clearing 1.4380, Fibonacci 61.8% retracement and 1.44 barrier, looking for test of 76.4% retracement at 1.4435 and 1.4454, 15 Apr intraday high, ahead of possible attempt at key barriers at 1.4500/18. Break here is needed to resume bulls and open 1.4579, 2010 high, next. Overbought hourly conditions, however, warn of corrective pullback, with 1.4330/00 zone expected to contain dips and maintain immediate bulls.

Res: 1.4412, 1.4435, 1.4454, 1.4500
Sup: 1.4382, 1.4330, 1.4315, 1.4300

Image



GBP/USD

Maintains near-term positive tone after loss of 1.6226 support extended decline to 1.6165, where a good support was found for fresh attempt higher. Regain of 1.63 handle has so far seen 1.6365 high, with 1.6382, 14 Apr high in sight, ahead of eventual attack at key resistances at 1.6400/26, above which will signal a resumption of broader uptrend and open 1.6456, 2010 high, next. Initial support lies at 1.63 zone.

Res: 1.6382, 1.6400, 1.6426, 1.6456
Sup: 1.6328, 1.6312, 1.6300, 1.6257


Image


USD/JPY

Recovery attempt from 82.17 low broke above 4-hour 20 day MA at 82.87, to briefly break above 83.00 barrier. This signals fresh recovery towards 83.25 and strong resistance at 83.77, 15 Apr high, with 82.65 expected to hold dips, to maintain near-term positive tone.

Res: 83.09, 83.25, 83.42, 83.77
Sup: 82.65, 82.31, 82.17, 82.00

Image



USD/CHF

Brief break above 0.9000 barrier was capped by 55 day MA at 0.9011, with reversal below 20 day MA, currently at 0.8960, under way. This turns immediate tone negative, and opens 0.8900/0.8894 lows for retest. Loss of the latter will signal a resumption of broader downtrend and open way towards 0.8800 zone. Only sustained break above 0.9000 would improve the outlook.

Res: 0.8975, 0.9006, 0.9017, 0.9060
Sup : 0.8945, 0.8920, 0.8904, 0.8894

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], GDMFX, Google [Bot], l3imadi