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Short Term Technical Analysis for Majors (14:00 GM
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WindsorBrokers
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27-Dec-2010 23:16
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EUR/USD Trades in a narrow range after fall from 1.3358 lower high reached fresh low at 1.3054. Corrective attempts are so far limited by 1.3200, with immediate focus on retest of 1.2968, 30 Nov low. To avoid this scenario, higher low above the latter is requited and break above 1.32 to open 1.3358, then 1.3497. Res: 1.3179, 1.3200, 1.3225, 1.3264 Sup: 1.3072, 1.3059, 1.3049, 1.2968 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20101227135646.gif GBP/USD Accelerates downtrend from 1.5910, breaking below 1.5483, previous low; 1.5405, falling wedge support and 1.5389, 200 day MA, to test 1.5345. This suggests further weakness, with 1.5295 in focus, while 1.5575 offers immediate cap. Only regain of 1.5645 to ease bear pressure. Res: 1.5492, 1.5518, 1.5575, 1.5645 Sup: 1.5355, 1.5343, 1.5295, 1.5250 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20101227135625.gif USD/JPY Extends weakness of 84.49 after break below 82.83 support has so far seen 82.64, en-route to key near-term support at 82.33. Break here would open way for fresh bear phase and expose 81.85, 61.8% of 80.24/84.49 ascend. Above 84.49, however, would resume corrective attempt off 80.24. Res: 83.89, 84.19, 84.39, 84.49 Sup: 82.33, 81.85, 81.65, 81.25 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20101227140531.gif USD/CHF Extended fall from 1.0064/0.9916, to reach 0.9495, just above yearly low at 0.9461. Correction higher is underway, with immediate resistance at 0.9663, below where a lower top is anticipated for fresh attempt towards 0.9461. Upside regain of 0.9718/32 is required to open way for stronger correction. Res: 0.9663, 0.9694, 0.9718, 0.9732 Sup: 0.9573, 0.9550, 0.9495, 0.9461 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20101227135531.gif |
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