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Short Term Technical Analysis for Majors (14:00 GM
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lookcc
Master |
01-Feb-2011 23:02
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long  gbp. |
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WindsorBrokers
Senior |
01-Feb-2011 22:59
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EUR/USD Extended advance off 1.3569 higher low, to briefly break above 1.3757, 27 Jan previous high. Fresh 2 ½ month high was reached at 1.3774, followed by pullback to 1.3730 zone. However, short-term bulls remain in play while holding above 1.3570 and break above 1.3784 to focus 1.3838, 76.4% Fibonacci retracement of 1.4280/1.2872 decline. Res: 1.3757, 1.3784, 1.3824, 1.3838 Sup: 1.3662, 1.3636, 1.3600, 1.3570 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110201141921.gif GBP/USD Strong rally from 1.5821, yesterday higher low, has cleared previous high at 1.6058, surging through 1.61 barrier, to reach 1.6140 for now. This signals a continuation of recovery from 1.5343, with immediate focus on 1.6166, longer-term descending trendline connecting 1.7041 and 1.6297, 2009/2010 highs, break of which is required to resume higher and open 1.6297, 31 Oct 2010 high. Downside, 1.5821 underpins the advance, while loss of 1.5750 weakens short-term structure. Res: 1.6140, 1.6166, 1.6183, 1.6211 Sup: 1.6080, 1.6036, 1.6003, 1.5989 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20110201141859.gif   USD/JPY Recent failure to sustain gains above 83.00 zone has triggered fresh weakness, with loss of 81.84, key near-term support, extending losses to 81.46 so far and suggesting an end of recovery phase from 80.92. The latter now acts as key short-term support and comes in focus. Break below 80.92 would signal an end of correction from multiyear low at 80.24. Upside, 81.84/82.00 offer immediate resistance, while only break above 83 zone provides relief. Res: 81.84, 82.01, 82.14, 82.24 Sup: 81.46, 81.21, 80.92, 80.52 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20110201141836.gif   USD/CHF Maintains negative tone after the latest recovery attempt from 0.9301, historical low failed at 0.9782, with subsequent weakness clearing the last support at 0.9413, 76.4% retracement of 0.9301/0.9782 ascend, and opening way for attack at key 0.9301 support. Loss of the latter would signal and extension of the broad downtrend and fresh phase lower to expose psychological levels at 0.9200/0.9100. Only regain of 0.9620/80 would put immediate bears on hold and keep alive hopes of fresh recovery. Res: 0.9447, 0.9468, 0.9480, 0.9493 Sup: 0.9367, 0.9306, 0.9301, 0.9250 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20110201141757.gif |
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