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, Mar 19, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

    Joined:
    Nov 2, 2010
    Messages:
    8
    Likes Received:
    0
    EUR/USD
    Holds the near-term positive tone off last week’s low at 1.3000, as last Friday’s price action accelerated gains to test 1.3186, Fib 38.2% of 1.3485/1.3000 descend, also 13 Mar previous high. The pair currently moves sideways, holding the narrow range, as consolidation of the latest strong rally. Positive near-term studies see potential for further recovery, with 20 day EMA underpinning at 1.3150 and break above 1.3190 barrier, to open next strong resistance at 1.3290/1.3300, 08 Mar high / Fib 61.8%. Only loss of 1.3120 would weaken the near-term structure.

    Res: 1.3186, 1.3190, 1.3243, 1.3290
    Sup: 1.3160, 1.3150, 1.3120, 1.3100

    [​IMG]



    GBP/USD
    Last week’s strong recovery rally off 1.5600 base, turned focus higher, as the price broke above key near-term barriers at 1.5830/42, 08 Mar high / Fib 61.8% of 1.5991/1.5600 downleg. Strong barrier of 200 day SMA at 1.5860, has been tested so far, with break here to open way towards next hurdles at 1.5880/1.5900. Hourly and 4H studies are extended that may risk stronger correction, however, positive structure would stay unharmed, while dips holds above 1.5750.

    Res: 1.5860, 1.5881, 1.5900, 1.5965
    Sup: 1.5817, 1.5800, 1.5760, 1.5735

    [​IMG]



    USD/JPY
    Corrective pullback off last week’s fresh 11-month high, has so far found good support just above 83.00 handle, also 20 day EMA, however, negative hourly studies see potential for further reversal. Next strong supports lie at 82.80/63, 50% retracement / 09 mar previous high, while only loss of 82.00 handle, also Fib 61.8%, would turn short-term focus lower. Daily studies are over-extended, however, no firm signal of reversal seen yet. On the upside, 83.55 offers initial resistance, ahead of 84.00.

    Res: 83.55, 83.60, 83.93, 84.00
    Sup: 83.00, 82.80, 82.50, 82.37

    [​IMG]



    USD/CHF
    Near-term structure holds negative tone, as reversal off 0.9333, last week’s fresh high, broke below main bull trendline, drawn off 0.8930 low and Fib 38.2% at 0.9180. The price now approaches next strong support at 0.9138, 13 Mar low / 50% retracement, with current consolidation seen capped at 0.9200, 15 Mar low , 55 day EMA. Daily studies are losing traction and see risk of further reversal, while only regain of 0.9250 averts immediate downside risk.


    Res: 0.9172, 0.9200, 0.9215, 0.9252
    Sup: 0.9150, 0.9138, 0.9100, 0.9070

    [​IMG]
     

Share This Page