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  #1  
Old 23-03-2010, 15:06
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Default Short Term Technical Analysis for Majors

EUR/USD

Continues to trade within broader 1.3433/1.3816 consolidative range. The latest strong sell-off from 1.3816 found support at 1.3462 yesterday, just above 1.3433 range bottom, ahead of current recovery phase. This has so far stalled at 1.3568, with market attempting to leave a lower top, for fresh push higher. However, regain of 1.3639 is needed to resume short-term recovery, otherwise, attack at 1.3433 and possibly lower would be likely scenario.

Res: 1.3568, 1.3586, 1.3600, 1.3625
Sup: 1.3474, 1.3462, 1.3433, 1.3423




GBP/USD

Fresh strength emerges from 1.4971, today’s low, after recovery attempt off yesterday’s 1.4930 low failed at 1.5111. Break through 1.5111/60 is required to resume near term bears and open 1.5200/50 zone next. Early upside rejection, however, brings 1.4930, then 1.4871 and possibly 1.4780 levels back in focus.


Res: 1.5111, 1.5160, 1.5206, 1.5224
Sup: 1.4971, 1.4930, 1.4871, 1.4780




USD/JPY

Remains locked in 89.74/91.08 consolidation range, with positive bias seen in play while 89.74 support holds. However, sustained break above 90.79/91.08 is needed to resume short-term recovery and focus 92.13 next. Loss of 89.74 would weaken the structure and risk test of 88.13 instead.

Res: 90.37, 90.79, 91.08, 91.22
Sup: 90.12, 89.74, 89.62, 89.45





USD/CHF

Short-term trading remains entrenched within a corrective channel off 1.0887, 02 Mar lower high, while triangular consolidation from 1.0505, 17 Mar low may precede a further push lower through 1.0505/1.04497, strong support area. Only break above 1.0660/76 would ease immediate downside risk and pivot market higher.


Res: 1.0645, 1.0660, 1.0676, 1.0697
Sup: 1.0530, 1.0505, 1.0497, 1.0424


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  #2  
Old 24-03-2010, 11:54
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Default Short Term Technical Analysis for Majors (09:30 GMT)

EUR/USD

Latest sell-off from 1.3816 has finally broke below 1.3433, past four weeks range bottom, to open way for fresh weakness. Next targets stand at 1.3423 and 1.3339, May 2009 lows. Correction on oversold hourly studies is likely, with 1.3568 expected to cap.

Res: 1.3444, 1.3462, 1.3480, 1.3502
Sup: 1.3423, 1.3339, 1.3245, 1.3190




GBP/USD

Positive structure off 1.4930, 22 Mar low, suggests a final leg higher before the formation of a lower high and a possible retest of 1.4780 yearly low. Regain of 1.5207, 61.8% retracement of 1.5380/1.4930 decline, however would open fresh strength.

Res: 1.5018, 1.5051, 1.5086, 1.5111
Sup: 1.4930, 1.4871, 1.4855, 1.4780




USD/JPY

Fresh strength off 89.82, 22 Mar higher low, has cleared 90.76/79 resistances, to dent 91.08 key level. Clear break here would trigger upside extension towards 92.13, 19 Feb high, next. Only reversal under 89.74 would weaken current structure.

Res: 91.27, 91.38, 91.90, 92.13
Sup: 90.79, 90.35, 90.12, 89.74




USD/CHF

Triangular consolidation from 1.0505, 17 Mar low broke above key resistance, with 1.0700 being reached so far. Near-term structure remains positive and potential break above 1.0729, 11 Mar high to spark a recovery to 1.0805/10 next. 1.0637/09 now offers initial support.

Res: 1.0729, 1.0810, 1.0898, 1.0940
Sup: 1.0660, 1.0637, 1.0609, 1.0534

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  #3  
Old 24-03-2010, 16:20
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Default Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD

Today’s break below 1.3433, range bottom, triggered market lower to reach fresh yearly lows. 1.3339, 8 May 2009 low has also been cleared way for test of 1.3190, 30 Apr 2009 low. 1.3462, former support, now reverted to resistance, expected to cap, to hold immediate bears in play.

Res: 1.3444, 1.3462, 1.3480, 1.3502
Sup: 1.3245, 1.3190, 1.3165, 1.3120




GBP/USD

Negative tone now dominates after 1.5111 confirmed as lower top. Today’s break under 1.4930, key near-term support, triggered fresh weakness to test 1.4871, 10 Mar low. This sees potential for final attempt at 1.4780, break of which may signal a significant decline in a near future. Regain of 1.5086/1.5111, however, would ease bear pressure.

Res: 1.4930, 1.4971, 1.5018, 1.5051
Sup: 1.4871, 1.4855, 1.4780, 1.4765




USD/JPY

Today’s strength has broken out of 89.74/91.08 consolidation range, extending gains to 91.95 thus far. Next targets stand at key 92.13, 19 Feb high, break of which would allow stronger correction 93.15/39. Downside, 91.08/90.79 area offers initial support, while only loss of 89.74 would damage current structure.

Res: 92.13, 92.45, 93.15, 93.39
Sup: 91.08, 90.79, 90.35, 90.12





USD/CHF

Triangular consolidation from 1.0505, 17 Mar low, broke above key resistance, to extend gains to 1.0714 so far. Near-term structure remains positive and potential break above 1.0729, 11 Mar high to spark a recovery to 1.0805/10 next. Correction now under way, with 1.0637/09 now offering initial support.

Res: 1.0729, 1.0810, 1.0898, 1.0940
Sup: 1.0637, 1.0609, 1.0534, 1.0477

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  #4  
Old 25-03-2010, 11:10
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Default Short Term Technical Analysis for Majors (09:30 GMT)

EUR/USD

Two day bear flag seen on 23 Mar has triggered a fresh weakness to break through 1.3433 range bottom, to commence next key leg lower, targeting 1.3245, then 1.3190, en-route to 1.3090, short-term objective. Upside, 1.3433/62 area should now cap corrective rallies.

Res: 1.3346, 1.3376, 1.3444, 1.3462
Sup: 1.3281, 1.3245, 1.3190, 1.3165




GBP/USD

Positive near-term structure has triggered a minor double bottom reversal from 1.4782, targeting the 1.4950 region, where a lower high is seen forming, ahead of fresh attempt at 1.4780, key low. Regain of 1.5018, yesterday’s intraday high, however, would delay, for stronger recovery towards 1.5085/1.5111.

Res: 1.5018, 1.5051, 1.5086, 1.5111
Sup: 1.4871, 1.4855, 1.4780, 1.4765




USD/JPY

Rallied higher yesterday, breaking through 90.65/79 key resistance area, to complete a continuation pattern that signals an extension off 88.13, yearly low, posted on 04 Mar. Initial target at 92.13, has already been reached, with market now focusing 93.75, yearly high of 08 Jan. Current correction should hold above 91.35, to keep immediate bulls in play.

Res: 92.13, 92.45, 93.15, 93.39
Sup: 91.70, 91.38, 91.08, 90.79




USD/CHF

Triangular consolidation from 1.0505, 17 Mar low, broke above key resistance, to extend gains to 1.0714 so far. Near-term structure remains positive and holding above 1.0660 keeps scope for break above 1.0729, 11 Mar high, to spark a recovery to 1.0805/10 next. Loss of 1.0610, however, would delay and open 1.0560/45 zone instead.

Res: 1.0740, 1.0793, 1.0810, 1.0898
Sup: 1.0660, 1.0637, 1.0609, 1.0534

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  #5  
Old 25-03-2010, 15:53
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Default Short Term Technical Analysis for Majors (14:30 GMT)

EUR/USD
Fresh weakness off 1.3561, 23 Mar lower top, broke through 1.3433 range bottom, to commence next leg lower, targeting 1.3245, then 1.3190, en-route to 1.3090, short-term objective. Upside, 1.3433/62 area should now cap corrective rallies.

Res: 1.3376, 1.3444, 1.3462, 1.3486
Sup: 1.3281, 1.3245, 1.3190, 1.3165




GBP/USD

Positive near-term structure has triggered a minor double bottom reversal from 1.4782, targeting the 1.4950 region, where a lower high is seen forming, ahead of fresh attempt at 1.4780, key low. Regain of 1.5018, yesterday’s intraday high, however, would delay, for stronger recovery towards 1.5085/1.5111.

Res: 1.5003, 1.5018, 1.5051, 1.5086
Sup: 1.4855, 1.4780, 1.4765, 1.4755





USD/JPY

Rallied higher yesterday, breaking through 90.65/79 key resistance area, to complete a continuation pattern that signals an extension off 88.13, yearly low, posted on 04 Mar. Clearance of 92.13 has so far reached 92.59, en-route to 93.75, yearly high posted 08 Jan. 91.75/50, today’s low/200 days MA, underpin the advance for now.

Res: 92.75, 93.15, 93.39, 93.75
Sup: 91.75, 91.50, 91.38, 91.08




USD/CHF

Triangular consolidation from 1.0505, 17 Mar low and 50% retracement of 1.0130/1.0898 upleg, broke above key resistance, to extend gains through 1.0729 barrier to reach 1.0740 so far. Near-term structure remains positive and holding above 1.0673/60 keeps scope for recovery towards 1.0805/10. Loss of 1.0610, however, would delay and open 1.0560/45 zone instead.

Res: 1.0740, 1.0793, 1.0810, 1.0898
Sup: 1.0673, 1.0660, 1.0637, 1.0609

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  #6  
Old 26-03-2010, 10:26
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Default Short Term Technical Analysis for Majors (09:00 GMT)

EUR/USD

Declined through key 1.3433, range floor yesterday, to reach fresh yearly low at 1.3266 overnight. Next downside targets stand at 1.3245, then 1.3190, ahead of possible attempt at 1.3090. Correction now under way, with 1.3386, yesterday’s high, offering initial resistance. Holding below here would keep immediate bears in play, while break higher would allow stronger correction towards 1.3445/62.

Res: 1.3386, 1.3444, 1.3462, 1.3486
Sup: 1.3283, 1.3266, 1.3245, 1.3190




GBP/USD

Upside attempt off yesterday’s 1.4853 double bottom was short lived, and fresh weakness emerged from 1.5003 lower top, to reach 1.4797, just ahead of key 1.4780, annual low. Break here would likely spark significant weakness towards 1.45/1.44 zone in the near future. Upside, only regain of 1.5380 would improve the outlook.

Res: 1.4871, 1.4930, 1.5003, 1.5018
Sup: 1.4797, 1.4780, 1.4765, 1.4755




USD/JPY

Break through 91.74, two years falling trendline and 92.13, previous high, now focuses 93.09/75, 50% retracement of the broader 101.43/84.80 downmove / 08 Jan yearly high. 91.75 offers immediate support.

Res: 92.94, 93.09, 93.39, 93.75
Sup: 92.13, 91.75, 91.50, 91.38




USD/CHF

Extended recovery off 1.0505, 17 Mar low, to reach 1.0749 high yesterday. Corrective pullback now under way, with 1.0673/60 zone expected to hold, to keep immediate bulls in play for fresh attempt at 1.0805/10.

Res: 1.0749, 1.0793, 1.0810, 1.0898
Sup: 1.0673, 1.0660, 1.0637, 1.0609

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  #7  
Old 29-03-2010, 10:43
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Default Short Term Technical Analysis for Majors

EUR/USD

Corrective rally from 1.3266, 25 Mar low, broke through important 1.3433/60/74 resistances, extending gains to 1.3489 overnight, just above 38.2% retracement of 1.3816/1.3266 downleg. 1.3540/70 now seen as key resistance. Loss of 1.3345 weakens recovery phase for 1.3267 and below.

Res: 1.3489, 1.3540, 1.3570, 1.3600
Sup: 1.3415, 1.3380, 1.3345, 1.3322




GBP/USD

Extends bounce off 1.4797, 25 Mar low, currently attempting at 1.5003, 25 Mar peak, ahead of 1.5011, trendline resistance. Further, 1.5087, 50% retracement of 1.5380/1.4797 descend and 1.5111, 23 Mar high, offer resistance. However, lower top under 1.5380 would resume broader downtrend and expose 1.4797 first.

Res: 1.5003, 1.5018, 1.5087, 1.5111
Sup: 1.4878, 1.4845, 1.4824, 1.4797




USD/JPY

Break through 91.74, two years falling trendline and 92.13, previous high, now focuses 93.09/75, 50% retracement of the broader 101.43/84.80 downmove. 92.29/91.75 zone offers immediate support.

Res: 92.94, 93.09, 93.39, 93.75
Sup: 92.29, 92.13, 91.75, 91.50




USD/CHF

Reversal off 1.0749, 25 Mar high, spiked lower at 1.0575 overnight, ahead of bounce to 1.0688. Fresh decline is now under way targeting 1.0575 but only break below key 1.0545 to trigger near-term weakness. Only clearance of 1.0688/1.0702 would firm for 1.0749 and higher.

Res: 1.0688, 1.0702, 1.0722, 1.0749
Sup: 1.0579, 1.0575, 1.0545, 1.0505

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  #8  
Old 29-03-2010, 15:25
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Default Short Term Technical Analysis for Majors (13:30 GMT)

EUR/USD

Corrective rally from 1.3266, 25 Mar low, broke through important 1.3433/60/74 resistances, reached fresh high at 1.3505 today, to retrace between 38.2% and 50% of 1.3816/1.3266 downleg. 1.3540/70 now seen as key resistance, with potential break there to spark further recovery towards 1.3605, 61.8% retracement. Downside loss of 1.3345 weakens recovery phase for 1.3267 and below.

Res: 1.3489, 1.3505, 1.3540, 1.3570
Sup: 1.3415, 1.3380, 1.3345, 1.3322




GBP/USD

Extended recovery from 1.4797, 25 Mar low, to dent 1.5011, trendline resistance, with 1.5018 being reached so far. 1.5087, 50% retracement of 1.5380/1.4797 descend and 1.5111, 23 Mar high, offer resistance. However, lower top under 1.5380 would resume broader downtrend and expose 1.4797 first, ahead of key 1.4780 low.

Res: 1.5018, 1.5087, 1.5111, 1.5165
Sup: 1.4878, 1.4845, 1.4824, 1.4797





USD/JPY

Remains in consolidation mode, following break through 91.74, two years falling trendline and 92.13, previous high, to reach 92.94 high on 25 Mar. Focus remains on 93.09/75, 50% retracement of the broader 101.43/84.80 decline, 92.29/91.75 zone underpins.

Res: 92.94, 93.09, 93.39, 93.75
Sup: 92.29, 92.13, 91.75, 91.50




USD/CHF

Reversal 1.0749, 25 Mar high, spiked lower to reach 1.0575 overnight, ahead of bounce to 1.0688. Fresh dips are now possible, but only break below key 1.0545 to trigger near-term weakness. Upside clearance of 1.0688/1.0702, however, would firm for 1.0749 and higher.

Res: 1.0688, 1.0702, 1.0722, 1.0749
Sup: 1.0579, 1.0575, 1.0545, 1.0505

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  #9  
Old 30-03-2010, 09:29
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Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Corrective rally from 1.3266, 25 Mar low, has cleared 1.3505, yesterday’s peak, en-route to 1.3540, 50% of 1.3816/1.3266 downleg and key 1.3570 lower ceiling. 1.3433/15 offer initial support, while loss of 1.3375/45 to end recovery phase and focus 1.3266.

Res: 1.3489, 1.3505, 1.3540, 1.3570
Sup: 1.3540, 1.3570, 1.3605, 1.3630




GBP/USD

Continue to correct 1.5380/1.4797 downleg, with today’s clearance of 1.5018 high, now approaching 1.5087, 50% retracement. Above there, 1.5145, trendline resistance is a key level and potential break there to resume correction and open 1.5111 next. Regain of 1.5380, however, is required to neutralize bears. 1.4975/55 offer initial support, ahead of key 1.4890, yesterday’s low.

Res: 1.5087, 1.5111, 1.5165, 1.5204
Sup: 1.5018, 1.4975, 1.4955, 1.4890




USD/JPY

Remains in consolidation mode, following break through 91.74, two years falling trendline and 92.13, previous high, to reach 92.94 high on 25 Mar. Focus remains on 93.09/75, 50% retracement of the broader 101.43/84.80 decline, 92.11/91.75 zone underpins.

Res: 92.71, 92.96, 93.09, 93.39
Sup: 92.11, 91.75, 91.50, 91.33




USD/CHF

Reversal 1.0749, 25 Mar high, has so far found support at 1.0585/75, trendline support, with further dips to 1.0557 not ruled out, but loss of key 1.0545 to trigger near-term weakness. Upside clearance of 1.0661 to firm the tone for 1.0749 test.

Res: 1.0661, 1.0688, 1.0702, 1.0722
Sup: 1.0585, 1.0575, 1.0545, 1.0505

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  #10  
Old 31-03-2010, 09:40
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Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Corrective rally from 1.3266, 25 Mar low, has so far been capped by 1.3536, just ahead of 1.3540, 50% retracement of 1.3816/1.3266 downleg. Reversal off 1.3536 has so far reached 1.3383, ahead of 1.3370, 61.8% retracement of 1.3266/1.3436 upleg. Current softened tone now favors further weakness through 1.3383 to focus 1.3344, with possible retest of 1.3266 on a break. Only regain of 1.3536 would provide relief and target 1.3570, key lower ceiling.

Res: 1.3437, 1.3451, 1.3487, 1.3536
Sup: 1.3383, 1.3370, 1.3344, 1.3266




GBP/USD

Continue to correct 1.5380/1.4797 downleg, to extend gains to 1.5125 high, posted yesterday. Shallow pullback followed, with positive structure now seeking for 1.5123, trendline resistance, then of 1.5156, 61.8% retracement of 1.5380/1.4797 decline, ahead of possibly forming lower top.


Res: 1.5123, 1.5145, 1.5156, 1.5165
Sup: 1.5042, 1.5018, 1.4975, 1.4955




USD/JPY

Yesterday’s completion of a bull flag has triggered a continuation of near-term uptrend, with clearance of 92.94, current range ceiling, extending gains to 93.59 thus far. Further, 93.75, 08 Jan 2010 high is now key and clearance there would attract 94.05, 28 Aug 09 high. 92.74 offer immediate support and only below 92.11 to delay immediate bulls.

Res: 93.59, 93.75, 94.05, 94.30
Sup: 93.02, 92.74, 92.45, 92.11




USD/CHF

Pullback off 1.0749, 25 Mar high, spiked lower at 1.0575 on 29 Mar. A key higher low was then posted at 1.0585 on 30 Mar, also marking a trendline support, and the bounce has broken a trendline drawn off 1.0749. This signals further recovery through 1.0688 to challenge 1.0720, trendline off 1.0887.

Res: 1.0688, 1.0702, 1.0720, 1.0752
Sup: 1.0611, 1.0585, 1.0575, 1.0545

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  #11  
Old 01-04-2010, 09:29
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Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Upswing off 1.3383, yesterday’s low, has probed above 1.3540, 50% retracement of 1.3815/1.3266 downleg to open 1.3570, key 23 Mar lower ceiling. Potential break here would attract 1.3605, 61.8% retracement, next. Loss of 1.3433/15 would resume the underlying bear trend.

Res: 1.3560, 1.3570, 1.3605, 1.3638
Sup: 1.3475, 1.3433, 1.3415, 1.3383




GBP/USD

Continues to trade within an hourly rising channel, to reach 1.5246, just ahead of 1.5256, 19 Mar high. Scope is now seen for further near term strength, with potential break through the latter to open way for the key 1.5380, 17 Mar peak. Upside rejection, however, risks a lower top for an eventual relapse lower back towards 1.4780 annual low.

Res: 1.5256, 1.5278, 1.5315, 1.5327
Sup: 1.5167, 1.5117, 1.5088, 1.5042




USD/JPY

Continues to trend higher, fueled by the longer-term bear channel break. Completion of bull flag completion and yesterday’s lower rejection at 92.75 now supports fresh gains towards initial 9375, yearly high, posted on 08 Jan. Break here opens 94.05/30 first.

Res: 93.75, 94.05, 94.30, 94.65
Sup: 93.05, 92.75, 92.45, 92.11




USD/CHF

Has broken out of a minor bearish coil which held below 1.0688/1.0703 hourly lower tops. Subsequent break below 1.0505, 17 Mar swing low, now reaffirms 3-legged 0.9916/1.0898 rise, with short-term risk at 1.0424/1.0368 next.

Res: 1.0565, 1.0585, 1.0649, 1.0688
Sup: 1.0485, 1.0775, 1.0447, 1.0424

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  #12  
Old 07-04-2010, 09:52
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Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Hourly structure continues to be negative with yesterday's break below 1.3390/83, 61.8% retracement of the 1.3266/1.3591 rise / 31 Mar low, warning of a full retrace of the move. Scope is now for a short-term swing higher, before leaving a lower top.

Res: 1.3438, 1.3459, 1.3496, 1.3537
Sup: 1.3355, 1.3344, 1.3305, 1.3266




GBP/USD

Continues to trade close to the 23.6% retracement of the 1.7041/1.4780 fall at 1.5315. Weekly structure continues to favor a shallow retrace and eventual relapse to retest 1.4780, the annual low.

Res: 1.5282, 1.5315, 1.5330, 1.5380
Sup: 1.5192, 1.5128, 1.5117, 1.5042




USD/JPY

Daily structure since the annual low at 88.13 hints at possible exhaustion of the current rise. Potential is seen for a pullback now towards the 200 day MA, currently at 91.46. Bulls remain in play while 93.55 holds, with potential break here to open 93.27 and 92.75. Only regain of 94.39 would suggest renewed strength.

Res: 94.39, 94.77, 95.02, 95.30
Sup: 93.55, 93.27, 93.05, 92.75




USD/CHF

Continues to head higher off recent lower rejection of 200-day MA, with scope set at 1.0779, break of which will trigger a larger daily bull flag with an initial target at 1.0899, annual high, posted on 19 Feb).

Res: 1.0720, 1.0749, 1.0795, 1.0810
Sup: 1.0643, 1.0585, 1.0553, 1.0487

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  #13  
Old 08-04-2010, 10:11
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Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

Continues to trend lower, with risk seen for further drop to fully retrace the 1.3266/1.3591 upleg. Break below 1.3266, yearly low, would open 1.3190, 30 Apr 2009 low next, while 1.3409 expected to cap corrective attempts.

Res: 1.3377, 1.3409, 1.3438, 1.3459
Sup: 1.3266, 1.3245, 1.3213, 1.3190





GBP/USD

Failed again in attempt at 1.5282/1.5315 area, with fresh weakness now under way. 1.5147/28 zone offers strong support, and break there is required to resume a broader weakness towards 1.4797/80. Regain of 1.5315/80, however, would improve.

Res: 1.5250, 1.5282, 1.5315, 1.5380
Sup: 1.5147, 1.5128, 1.5117, 1.5042





USD/JPY

Current pullback is seen as corrective in structure with an hourly reversal pattern having been triggered. Scope is now for further weakness towards 92.75 and 91.45, 200 day moving average. Back over 94.03 defers.

Res: 93.55, 93.85, 94.03, 94.25
Sup: 93.05, 92.75, 92.45, 92.11




USD/CHF

Daily structure continues to be constructive with a bull-flag in place, following the recent break over 1.0749. Hourly structure also remains positive, with scope for a near-term rise towards 1.0809/27. Downside, 1.0677 offers initial support.

Res: 1.0795, 1.0809, 1.0827, 1.0898
Sup: 1.0712, 1.0677, 1.0643, 1.0585

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  #14  
Old 09-04-2010, 09:28
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Default Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD

Yesterday’s failure to break below 1.3266 yearly low, has triggered a corrective phase. A higher low is now sought in an hourly time frame for a fresh leg higher, with 1.3409/59 offering strong resistance. Break above the latter is required to sideline near-term bears in favor of stronger correction, while failure to break higher would risk fresh weakness and re-focus 1.3266.

Res: 1.3409, 1.3438, 1.3459, 1.3497
Sup: 1.3341, 1.3320, 1.3282, 1.3266




GBP/USD

Daily structure continues to seek for a shallow retrace, with a short-term rise back over 1.5380 not ruled out, before leaving a lower top. Latest clearance of 1.5315 now confirms this scenario.

Res: 1.5380, 1.5400, 1.5420, 1.5475
Sup: 1.5235, 1.5220, 1.5167, 1.5128




USD/JPY

Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

Res: 93.72, 93.85, 94.03, 94.25
Sup: 93.05, 92.82, 92.75, 92.45




USD/CHF

Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

Res: 1.0742, 1.0795, 1.0809, 1.0827
Sup: 1.0677, 1.0650, 1.0608, 1.0585

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  #15  
Old 09-04-2010, 15:02
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Posts: 16
Default Short Term Technical Analysis for Majors (14:00 GMT)

EUR/USD

Undergoes corrective phase after yesterday’s bounce off 1.3282, just above 1.3266, 2010 low. Today’s clearance of 1.3409 resistance has so far reached 1.3417, followed by pullback. 1.3341, today’s low, needs to hold to keep immediate bulls in play, and above 1.3417 to extend correction towards 1.3459, where a lower top should take place, ahead of fresh weakness. Only break above the latter would allow for stronger correction.

Res: 1.3417, 1.3438, 1.3459, 1.3497
Sup: 1.3341, 1.3320, 1.3282, 1.3266




GBP/USD

Extends gains off 1.4797 to dent key 1.5380 resistance today. Clear break here would signal further recovery towards 1.5475, while early upside rejection risks lower top, for fresh attempt at 1.5167/28 zone.

Res: 1.5400, 1.5420, 1.5475, 1.5520
Sup: 1.5235, 1.5220, 1.5167, 1.5128




USD/JPY

Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

Res: 93.85, 94.03, 94.25, 94.77
Sup: 93.05, 92.82, 92.75, 92.45




USD/CHF

Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

Res: 1.0742, 1.0795, 1.0809, 1.0827
Sup: 1.0677, 1.0650, 1.0608, 1.0585

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  #16  
Old 12-04-2010, 10:20
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Join Date: Mar 2010
Posts: 16
Default Short Term Technical Analysis for Majors (08:30 GMT)

EUR/USD

The latest advance off 1.3280, 08 Apr low, has breached key 1.3591 resistance, to extend gains to 1.3691 overnight and retrace over 61.8% of the broader 1.3816/1.3266 decline. Scope is now seen for upside attempt towards 1.3735, with current pullback on overbought conditions to be contained by 1.3538/1.3496, to keep immediate bulls in play.

Res: 1.3691, 1.3735, 1.3788, 1.3816
Sup: 1.3604, 1.3592, 1.3538, 1.3496




GBP/USD

Recovery phase from 1.4780/1.4800 lows broke above key 1.5380 lower platform, to hit 1.5484 earlier this morning. Overbought hourly structure sees correction now under way, with 1.5380 offering immediate support, ahead of fresh push higher, as daily conditions remain supportive for continuation of the recent strength, focusing 1.5574 next. Below 1.5380, however, may risk deeper reversal.

Res: 1.5484, 1.5520, 1.5574, 1.5632
Sup: 1.5380, 1.5313, 1.5267, 1.5235




USD/JPY

Rally off 89.74, 18 Mar low, peaked at 94.77 on 05 Apr. A corrective phase followed and support was found at 92.83, near 38.2% retracement of the entire move. 92.77, today’s higher low now supports and clearance of 93.55/78 expected to resume near-term gains and open 94.25 next. Downside loss of 92.88/75 risks 92.26/11 instead.

Res: 93.55, 93.85, 94.03, 94.25
Sup: 92.88, 92.75, 92.45, 92.26




USD/CHF

Continues to fall sharply off last week’s failure at 1.0784, possibly completing recent 3-week expanded flat, ahead of retesting 200-day MA, currently at 1.0475, and lower towards 1.0435. Intraday falling gap left at 1.0626/55 weighs for now.

Res: 1.0625, 1.0655, 1.0686, 1.0713
Sup: 1.0525, 1.0510, 1.0475, 1.0435

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