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

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Jul 12, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    Negative sentiment continues to drive the bloc currency lower, with succession of fresh lows posted on a daily basis. The price approaches our initial target at 1.2200, ahead of 1.2150, June 2010 low, loss of which to possibly open way towards psychological 1.2000 level in a short-term. Negative near-term studies keep the downside pressure, with descending 55 day EMA, currently at 1.2265, maintaining the downtrend. Any corrective action will face very strong barriers at 1.2300/35 and only break here will ease bear-pressure.

    Res: 1.2245, 1.2265, 1.2300, 1.2333
    Sup: 1.2200, 1.2150, 1.2115, 1.2100

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    GBP/USD
    The near-term structure turns negative after yesterdays’s upside rejection at 1.5576 and sharp slide that took out 1.5500 and cracked more significant 1.5460/50, short-term base. Clear break here to open 1.5400, however, overextended hourly conditions suggest corrective bounce preceding fresh weakness. Initial barriers lie at 1.5500/15, with improvement of the larger-picture negative outlook, requiring regain of yesterday’s high at 1.5576.

    Res: 1.5480, 1.5500, 1.5515, 1.5550
    Sup: 1.5447, 1.5400, 1.5320, 1.5300

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    USD/JPY
    The pair erases its strong gains after yesterday’s rally from 79.12 tested 79.80 barrier and accelerated gains on BOJ’s overnight release, spiking at 79.94, before sharp slide to the lower levels of 79.00/80.00 range. As 80.00 offers very strong barrier, near-term focus turns lower again. Violation of 79..12/00 support would signal fresh bear-phase and expose 78.60 next.

    Res: 79.50, 79.78, 80.00, 80.21
    Sup: 79.20, 79.12, 79.00, 78.80

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    AUD/USD
    The Aussie’s latest rally off 1.1050 higher base, failed to clear 200 day MA at 1.0270, with weak jobs data from Australia, released overnight, accelerating losses. Fresh weakness under 1.0225/00 support zone, dented key near-term support 1.0150, also 50% of 0.9968/1.0326, dipping to 1.0135 so far, ahead of Fib 61.8% and figure support at 1.0100. Corrective bounce on oversold conditions, signalled on hourly chart, faces barriers at 1.0180/1.0200, while only regain of 1.0240 would turn near-term focus higher and re-focus 200 day MA at 1.0270.

    Res : 1.0177, 1.0200, 1.0225, 1.0243
    Sup : 1.0135, 1.0125, 1.0100, 1.0076

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