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 (08:00 GMT)

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Feb 20, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

    Joined:
    Nov 2, 2010
    Messages:
    8
    Likes Received:
    0
    EUR/USD
    Maintains positive sentiment off last Thursday’s low at 1.2973, as positive outcome for Greece is expected on today’s Eurozone Financial Ministers meeting. Today’s gap higher opening shows the pair well bid, with 76.4% retracement of 1.3320/1.2973 downleg, seen so far. Near-term studies continue to point higher, as the last barriers at 1.3280 zone, 13 Feb high / 90 day SMA, come in focus, ahead of key resistance at 1.3320.Initial support lies at 1.3173, ahead of 1.3137/14 zone that is expected to contain corrective dips and keep near-term bulls in play.

    Res: 1.3236, 1.3277, 1.3282, 1.3300
    Sup: 1.3196, 1.3173, 1.3137, 1.3114

    [​IMG]



    GBP/USD
    Extends near-term bulls off 1.5650 zone double bottom, to test 1.5880 so far, the last barrier ahead of key hurdles at 1.5913/26, 200 day SMA / 08 Feb high. Break here is required to resume short-term uptrend from 1.5233, 13 Jan low and expose 1.6000 next. Positive near-term studies remain supportive, however, corrective pullback may precede fresh rally, with 1.5800/1.5770 zone expected to hold the downside.

    Res: 1.5878, 1.5882, 1.5900, 1.5926
    Sup: 1.5826, 1.5800, 1.5792, 1.5770

    [​IMG]



    USD/JPY
    The pair’s strong three-week rally off 76.00 base, has finally cleared the main barrier at 79.52, 31 Oct 2011 post-intervention peak, reaching 79.88 high so far, ahead of psychological barrier at 80.00, above which to signal break above longer-term range from Aug 2011. Corrective easing on overbought hourly/4H conditions sees supports at 79.00 and 78.70.

    Res: 79.59, 79.88, 80.00, 80.23
    Sup: 79.00, 78.70, 78.50, 78.35

    [​IMG]



    USD/CHF
    Extends the near-term weakness after upside failure just under 0.9300, with break below daily Ichimoku cloud, bringing key supports at 0.9100/0.9087 into focus. Loss of the latter to trigger fresh bear-phase and extend the short-term downtrend from 0.9593, 09 Jan high, for test of Fibonacci level at 0.9075, possibly 0.9000, figure support, on a break. Strong resistance lies at 0.9200, 17/10 Feb highs / 20 day SMA.

    Res: 0.9161, 0.9177, 0.9200, 0.9250
    Sup: 0.9136, 0.9113, 0.9100, 0.9087

    [​IMG]
     

Share This Page