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Short Term Technical Analysis for Majors (14:00 GMT)

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Mar 19, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    Corrective pullback off last Friday’s high at 1.3186, also Fib 38.2% of 1.3485/1.3000, so far found footstep at 1.3140, 55 day EMA, but hourly studies continues to point lower. This sees potential of further easing towards next support at 1.3120/00, below which to open 1.3090, bull trendline off 1.3000 and 55 day SMA, where potential dips should be contained, to keep short-term bulls in play. On the upside, 1.3186 offers initial resistance, with break here to resume recovery and expose next strong barrier at 1.3290, 08 Mar high / Fib 61.8%.

    Res: 1.3169, 1.3186, 1.3190, 1.3243
    Sup: 1.3140, 1.3120, 1.3100, 1.3090

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    GBP/USD
    Brief consolidation under last Friday’s high and 200 day SMA at 1.5860, was contained at 1.5820. Fresh strength broke above 1.5860, initial barrier and also cleared 1.5881, 06 Mar high. Overbought hourly and extended studies on 4H chart warn of pullback, with 20 day EMA at 1.5835 and day’s low at 1.5820, offering initial support. Today’s close above 200 day SMA would signal further strengthening and possible attempt at 1.5990/1.6000 zone.

    Res: 1.5881, 1.5888, 1.5900, 1.5974
    Sup: 1.5820, 1.5800, 1.5760, 1.5735

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    USD/JPY
    The pair bounces off today’s low at 83.00, where the pullback off recent fresh high at 84.17 found temporary support. Initial barrier at 83.55 has been regained, with clearance of 83.93 required to re-focus 84.17, as hourly studies are gaining momentum. Upside rejection under 83.93, however, may risk lower top, ahead of fresh weakness, as studies on 4H chart are still pointing lower. Overextended daily studies also see risk of stronger correction of the recent strong rally from 76.00.

    Res: 83.55, 83.60, 83.93, 84.00
    Sup: 83.20, 83.00, 82.80, 82.50

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    USD/CHF
    The pair remains under pressure, after extending pullback from 0.9333, 15 Mar peak, through main bull trendline and Fib 38.2% at 1.3180.Near-term consolidation above 0.9150, day’s low is under way, with 20 day EMA limiting gains and hourly studies still in the negative territory, seeing potential for further easing and test of 0.9138/34, 13 Mar low / 50% retracement, next. On the upside, lift above 0.9200, initial barrier would improve the near-term structure.

    Res: 0.9176, 0.9200, 0.9215, 0.9252
    Sup: 0.9150, 0.9138, 0.9100, 0.9070

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