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

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

Postby WindsorBrokers » Mon Feb 06, 2012 8:56 am

EUR/USD
Continues to move within 1.3025/1.3200 range, after repeated failure to reclaim previous peak at 1.3232. Near-term tone is showing the downside pressure, as the pair opened with gap lower and continues to move lower. Break below initial support and higher base at 1.3085/65, now looks for test of next levels at 1.3025/00, 01 Feb low / Fib 38.2% of 1.2622/1.3232 ascend, below which would question short-term bulls and open way for further retracement towards next significant support at 1.2930, 25 Jan low / Fib 50%. Near-term studies are in the negative territory, with dailies starting to point lower and price breaking below 55 day SMA, keeping the upside targets out of reach for now. On the upside, filling the overnight gap and regain of 1.3135, 20 day SMA, is required to improve the immediate tone.

Res: 1.3085, 1.3100, 1.3130, 1.3166
Sup: 1.3052, 1.3025, 1.3000, 1.2930

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GBP/USD
Corrective easing off 1.5881, 01 Feb fresh high, attempts to base at 1.5750 zone, also main bull trendline, to keep short-term bullish structure intact. However, further correction is not ruled out, as near-term studies are negative, with levels to come in focus on break below 1.5750, at 1.5740 and 5705. Larger timeframe studies remain positive, signaling possible fresh strength and attack at 1.5900, figure resistance and 1.5950, 200 day SMA, while 1.5700 zone and 90 day SMA at 1.5675, hold corrective dips.

Res: 1.5785, 1.5800, 1.5830, 1.5859
Sup: 1.5750, 1.5740, 1.5705, 1.5660

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USD/JPY
Near-term positive tone, established after last Friday’s US NFP data, cleared initial resistance at 76.40/50, previous strong support, to test the next barrier at 76.75, so far, ahead of 76.89, Fib 38.2% of 78.27/76.00 downleg. Hourly studies are positive, corrective pullback on overbought conditions under way. Initial support, at 76.50/40 needs to hold the downside for possible fresh strength towards 77.00 and, 77.10 / 77.31, 20 / 55 / 90 days MA’s, also Fib 50%, clearance of which to avert downside risk.

Res: 76.79, 76.89, 77.00, 77.10
Sup: 76.50, 76.40, 76.13, 76.00

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USD/CHF
The pair continues to move higher, post US data, after creating near-term base at 0.9110 zone. Regain of previous barriers at 0.9208 and 0.9227, improves near-term outlook, however, while the recent high at 0.9250, also Fib 61.8% of 0.9338/0.9113 descend, needs to be cleared to confirm base and open way for stronger recovery towards 0.9300 and strong barrier at 0.9338, 25 Jan high. Otherwise, holding below 0.9250 would signal further range trading.

Res: 0.9250, 0.9283, 0.9300, 0.9338
Sup: 0.9200, 0.9172, 0.9125, 0.9113

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

Postby topcop128 » Mon Feb 06, 2012 4:41 pm

Not a very good analysis of the EUR/USD. Do you have many followers? (Losers)?
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Re: Short Term Technical Analysis for Majors (08:00 GMT)

Postby suman » Sat Jul 27, 2013 9:14 am

To be a successful trader at first you have to observe the Technical Analysis reports.By analysis the report anyone can do the right work in correct time.Forex metal has a nice analysis report.
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