1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Sep 25, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

    Joined:
    Nov 2, 2010
    Messages:
    8
    Likes Received:
    0
    EUR/USD

    The pair continues to trend lower, with marginally fresh low posted this morning at 1.2886, following brief 1.2890/1.2952 corrective rally that was capped by 55 day EMA. Loss of momentum, accompanied with negative hourly studies, keeps the downside favored, as 10/20 day EMA bearish crossover pressures. Immediate downside targets lie at 1.2864/54, 4h Ichimoku cloud base / 13 Sep low and 1.2835, 50% of 1.2500/1.3170, ahead of 1.2826/00, 200 day MA / broken med-term bear-trendline off 1.3485, annual high, as break here would confirm top and signal further retracement of 1.2042/1.3170 corrective rally. Overnight’s high at 1.2952, reinforced by 55 day EMA, offers initial resistance, while only regain of 1.3000 handle would delay bears.

    Res: 1.2939, 1.2952, 1.2971, 1.3000
    Sup: 1.2886, 1.2854, 1.2835, 1.2826

    [​IMG]



    GBP/USD

    Near-term price action remains well supported, despite yesterday’s dip below 1.6200 handle that was contained by 55 day EMA and above important 1.6162 support. The current movements could be described as sideways and consolidating, following brief probe above 1.6300 barrier. With hourly studies in a rather neutral mode and 4h ones slightly aligned to the downside, the most significant picture is on the daily chart. With studies showing signs of fatigue and being well in the overbought zone, as well as double doji candle, could be seen as signals of stronger reversal. Break below initial 1.6162 support is seen as a trigger, with 1.6100, also Fib 38.2% of 1.5769/1.6308, to come in focus on a break. Conversely, lift above 1.6308 to possibly signal a resumption of broader uptrend and break above long-term 1.5300/1.6300 congestion.

    Res: 1.6242, 1.6258, 1.6294, 1.6308
    Sup: 1.6200, 1.6180, 1.6162, 1.6130

    [​IMG]



    USD/JPY

    The pair’s break and close below important 78.00 support, signals further extension of near-term downtrend from 79.21, 19 Sep high. As near-term studies stand well in the negative territory and ma’s maintaining downward move, focus comes to the next support at 77.62, Fib 76.4% of 77.12/79.21 upleg, loss of which to expose key levels at 77.12 and 77.00. On the upside, previous support at 78.00, now acts as initial resistance, while only regain of 78.36, previous range top, would provide near-term relief.

    Res: 77.90, 78.00, 78.27, 78.36
    Sup: 77.73, 77.62, 77.45, 77.12

    [​IMG]



    USD/CHF

    The pair extends near-term recovery off 0.9237 low, as break above initial barriers at 0.9254/64, 20 Sep high / Fib 38.2% of 0.9577/0.9237, opened way towards key near-term resistance and pivotal point at 0.9400/16, where 200 day MA / 50% retracement and 13 Sep high lie. Rally was interrupted by brief 0.9390/50 correction. Positive near-term studies remain supportive, with break above 0.9400/16, required to resume recovery towards 0.9447, 61.8% and 0.9482, 10 Sep high. Initial support lies at overnight’s low at 0.9340, reinforced by 55 day EMA, ahead of 0.9329 and 0.9300, loss of which would delay near-term bulls.

    Res: 0.9390, 0.9400, 0.9416, 0.9432
    Sup: 0.9354, 0.9340, 0.9329, 0.9300

    [​IMG]
     

Share This Page