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Short Term Technical Analysis for Majors (15:00 GM
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WindsorBrokers
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07-Jan-2011 23:23
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EUR/USD Final push through key 1.2968 support has so far seen 1.2934, ahead of 1.2920/18, Aug/Sep 10 highs and 1.2795, 61.8% retracement of the broader 1.1875/1.4280 uptrend. Bounce higher is for now seen capped by 1.3054/80, while lift above 1.3130/70 delays immediate bears. Res: 1.3021, 1.3054, 1.3080, 1.3130 Sup: 1.2934, 1.2916, 1.2891, 1.2795 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110107150217.gif GBP/USD Break below near-term supports at 1.5445/33 has so far found 1.5404, ahead of strong rally. Immediate targets lie at 1.5552/62 and break here required to delay near-term bears in favor of fresh strength and possible retest of key peaks at 1.5644/59, break of which will resume recovery from 1.5343. Failure under 1.5562, however, risks a lower top and renewed weakness through 1.5404 towards 1.5366/43. Res: 1.5552, 1.5562, 1.5626, 1.5644 Sup: 1.5465, 1.5424, 1.5404, 1.5366 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20110107150147.gif USD/JPY Dipped back to 82.87 support after extending gains above 83.38 to peak at 83.67. Fresh gains are under way, with break above the latter needed to resume the uptrend and target 83.90/84.17, possibly 84.34/49 on a break. Loss of 82.87, however, would trigger deeper correction towards 82.67/43, 50% and 61.8% of 81.67/83.67 ascend, where bulls should re-assert. Res: 83.38, 83.67, 83.90, 84.19 Sup: 83.08, 82.87, 82.67, 82.43 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20110107150124.gif USD/CHF Extends correction off the latest high at 0.9706 below previous low to temporarily find support at 0.9594, ahead of rally. Clearance of 0.9706 is required to signal fresh leg higher, otherwise, we may see stronger correction, with 0.9551, 38.2% of 0.9301/0.9706 seen next. Upside, 0.9720/30 initial target on a break of 0.9706, ahead of 0.9770. Res: 0.9689, 0.9706, 0.9720, 0.9730 Sup: 0.9614, 0.9608, 0.9594, 0.9551 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20110107150048.gif |
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