official Short Term Technical Analysis by WindsorBrokers.com

[Guest WindsorBrokers]

EUR/USD

Remains under pressure after failing to sustain gains above 1.3738, 61.8% retracement of 1.4280/1.2872 decline, with last Friday’s closure below 1.37 level, anticipating stronger correction. Immediate support at 1.3573 has been tested so far, as the pair posted fresh one-week low at 1.3569. Strong support lies at 1.3539, loss of which would expose 1.34 zone, above where bulls are expected to reassert. Regain of 1.3757 is needed to expose 1.3784, 22 Oct 2010 high and 1.3838, 76.4% retracement of 1.4280/1.2872. Only loss of key short-term support at 1.3245 would signal possible end of recovery phase from 1.2872.

Res: 1.3635, 1.3677, 1.3710, 1.3745

Sup: 1.3591, 1.3569, 1.3539, 1.3503

GBP/USD

Extends the short-term downtrend off 1.6058, 18 Jan peak, after sharp fall to 1.5750 and subsequent recovery failure to clear trendline resistance at 1.5989. Near-term tone is skewed to the downside, with 1.5821, triangle support being tested so far. Break here to suggest fresh weakness and test of 1.5785, 61.8% of 1.5343/1.6058 ascend and 1.5750, key short-term higher low, loss of which would signal further weakness and open 1.5660/17 zone for retest.

Res: 1.5911, 1.5965, 1.5989, 1.6016

Sup: 1.5821, 1.5768, 1.5750, 1.5717

USD/JPY

Continues to trade in negative short-term tone following recovery failure at 83.67 and the recent upside rejection at 83.20. Today’s break below 83.05, trendline support is now attempting at key short-term support at 81.84, loss of which would signal an end of recovery phase from 80.92 and extension of the downtrend from 84.49, to test 80.92, possibly multi-year low at 80.24 on a break. Only regain of 83.00/20 zone would improve the near-term outlook.

Res: 82.21, 82.46, 82.70, 82.92

Sup: 81.91, 81.84, 81.67, 80.92

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 hopes of fresh recovery.

Res: 0.9468, 0.9480, 0.9493, 0.9520

Sup: 0.9399, 0.9388, 0.9365, 0.9301

[Guest WindsorBrokers]

EUR/USD

Near-term price action sees consolidation of the past two days heavy losses, triggered by negative fundamentals. Yesterday’s break below key short-term levels at 1.3700/1.3655, Fib 50% of 1.3145/1.4246 and 18/20 Oct higher platform, has found temporary support at 1.3600 zone. Near-term studies remain negative, with further weakness favored. Below 1.3607, yesterday’s low, to expose 1.3565, 11 Oct low / Fib 61.8%. Upside is for now seen limited at 1.3800 zone and only sustained break above 1.3870 would ease current bear pressure.

Res: 1.3752, 1.3762, 1.3800, 1.3830

Sup: 1.3635, 1.3607, 1.3565, 1.3523

GBP/USD

Maintains negative near-tone off 1.6164, 31 Oct high, as 200 day SMA currently limits the upside. Easing through main bull trendline and 1.5964, initial support, has found support at 1.5900 zone for now, with corrective bounce being capped at 1.6000 barrier for now. Fresh weakness would look for retest of 1.5890, yesterday / 26 Oct lows, below which to open strong support at 1.5850 and Fib 38.2% of 1.5271/1.6164 at 1.5825. On the upside, regain of 1.6100 handle is required to improve near-term outlook.

Res: 1.6000, 1.6030, 1.6056, 1.6091

Sup: 1.5965, 1.5914, 1.5900, 1.5890

USD/JPY

Extends the sideways movements, within a narrow range, as the price action stabilizes above 78.00. Hourly positive tone is fading, however, daily studies are gaining strength, with break above initial barriers at 79.00/52 required to resume recent gains. Only loss of 77.75 would weaken the near-term structure.

Res: 78.40, 79.00, 79.52, 80.00

Sup: 78.00, 77.75, 77.65, 77.50

USD/CHF

Corrects the recent strong rally that peaked at 0.8957 yesterday. Break below 0.8900 handle has so far been contained at 0.8830, with further easing into 0.8800 zone, Fib 38.2% of 0.8566/0.8957 upleg, seen favored, as hourly studies are losing momentum and 20 day SMA, currently at 0.8875, turned to the downside. Wider picture’s outlook sees 200 day SMA at 0.8725, as main support and holding above here to maintain short-term focus at the upside.

Res: 0.8900, 0.8957, 0.9000, 0.9040

Sup: 0.8830, 0.8800, 0.8760, 0.8737

[Guest WindsorBrokers]

EUR/USD

Break below Daily Ichimoku cloud at 1.3566 and 1.3550, 10 Nov intraday low, keeps pressure to the downside, with 1.3510 low seen so far, just ahead psychological support at 1.3500. Corrective/ consolidative phase on oversold hourly conditions may precede final push towards key short-term support at 1.3483, with 1.3590, 20 day SMA/ yesterday’s low, offering good resistance for now. Only regain of 1.3650, overnight’s consolidation ceiling, would ease immediate bear pressure. Loss of 1.3483 to trigger fresh leg lower and expose 1.3400 zone, Fib 76.4% of 1.3145/1.4246 ascend.

Res: 1.3590, 1.3600, 1.3655, 1.3680

Sup: 1.3510, 1.3500, 1.3483, 1.3450

GBP/USD

Break below short-term range floor at 1.5867, and 1.5850 support, adds additional pressure on the pair. Fresh losses so far tested Fib 38.2% of 1.5271/1.6164 upleg and daily 55 day SMA at 1.5825. Clear break below 1.5825 to open way for fresh extension towards 1.5780, mid July’s low, next, ahead of Fib 50% at 1.5720. Previous strong support zone at 1.5870/90, now reverts to resistance and along with 20 day SMA, expected to cap corrective rallies.

Res: 1.5870, 1.5890, 1.5900, 1.5950

Sup: 1.5825, 1.5800, 1.5780, 1.5720

USD/JPY

Near-term price action sees the pair stabilizing around 77.00 level, following overnight’s spike to 77.50 and subsequent reversal back to 77.00 zone. Near-term studies continue to point lower, with 76.80/50 in focus, while 20 day SMA at 77.25, maintains bears, ahead of key near-term barrier at 77.50.

Res: 77.10, 77.50, 77.72, 77.87

Sup: 76.80, 76.67, 76.50, 76.30

USD/CHF

Today’s fresh rally through 0.9147, previous high, posted 10 Nov, extended gains to 0.9175 so far, followed by corrective pullback, as near-term studies entered overbought zone. Initial support at 0.9147 was dented, with strong levels at 0.9100/0.9080 expected to contain further dips and maintain immediate bearish structure. Clearance of 0.9175 to open 0.9200/50 next, while short-term focus remains at 0.9313, 06 Oct high.

Res: 0.9138, 0.9147, 0.9200, 0.9250

Sup: 0.9100, 0.9080, 0.9025, 0.9000

[Guest WindsorBrokers]

EUR/USD

The pair steadies at 1.3450 zone after corrective pullback of yesterday’s sharp rally that peaked above 1.3500 barrier, found footstep within our support zone at 1.3440/00. Positive tone on 4H chart keeps hopes of fresh push higher, with clearance of 1.3532, yesterday’s high / over Fib 50% of 1.3810.1.3211 downleg, to expose the next strong resistances at 1.3600 zone, Fib 61.8% at 1.3605 / 1.3614, 18 Nov high and signal near-term base. On the downside, 1.3400, key near-term support, is expected to hold, to keep bulls in play.

Res: 1.3472, 1.3500, 1.3532, 1.3567

Sup: 1.3420, 1.3400, 1.3370, 1.3360

GBP/USD

Yesterday’s surge through key barrier at 1.5690/1.5700 zone suggests the pair is attempting to base, as gains extended to 1.5777, over Fib 76.4% of 1.5887/1.5422 decline and turned near-term focus higher. Corrective reversal on overbought conditions steadies above our initial support at 1.5655 for now, near Fib 38.2% of 1.5422/1.5777 ascend, with focus at 1.5800, above which to open next barrier at 1.5880 zone, 18 Nov high / 03 Nov low. Only loss of 1.5600 handle would sideline near-term bulls and turn focus lower.

Res: 1.5716, 1.5777, 1.5800, 1.5875

Sup: 1.5672, 1.5655, 1.5600, 1.5580

USD/JPY

Corrective action from 77.28, yesterday’s low, where sharp decline found support, remains capped by 20 day SMA at 77.80 for now. While below the latter, near-term focus remains on the downside, with the fifth wave on pullback from 78.27 high, to possibly test 77.00 zone. Break above 77.80/78.00, however, would improve the outlook and re-focus recent highs at 78.14/27.

Res: 77.80, 78.00, 78.14, 78.27

Sup: 77.50, 77.28, 77.00, 76.80

USD/CHF

Remains in near-term downtrend from 0.9328 high, as yesterday’s sharp fall through key supports at 0.9100/0.9080, extended loses to 0.9064 so far. Corrective bounce found strong resistance at 0.9150, previous support, with negative near-term studies keeping the downside favored, risk of forming double top pattern is rising. Below 0.9064 to focus 0.9000 initially, while only regain of 0.9200 barrier would improve near-term tone.

Res: 0.9137, 0.9152, 0.9173, 0.9180

Sup: 0.9100, 0.9064, 0.9000, 0.8950

[Guest WindsorBrokers]

EUR/USD

Remains under pressure, as recovery attempt from today’s low at 1.3332, was capped at 1.3426, initial resistance zone. Fresh weakness is testing previous support at 1.3360, with 1.3332/29, day’s low / main short-term bull trendline in focus, as the hourly structure is losing momentum. The near-term price action is limited within the asymmetric triangle, with the upper boundary at 1.3430, limiting the upside for now.

Res: 1.3384, 1.3400, 1.3420, 1.3487

Sup: 1.3360, 1.3330, 1.3300, 1.3273

GBP/USD

The near-term bias remains skewed to the downside while broken bull trendline off 1.5422 low caps corrective attempts. Hourly studies are below their midlines, suggesting further extension of the short-term reversal from 1.5777, 30 Nov high. Initial support zone at 1.5600/1.5575, holds for now, however, weakening 4H conditions see scope for break lower to expose next array of supports at 1.5557, Fibonacci 61.8% and 1.5525/00. Today’s high at 1.5663 and bear trendline at 1.5687, keep the upside capped for now.

Res: 1.5641, 1.5663, 1.5700, 1.5714

Sup: 1.5586, 1.5576, 1.5558, 1.5525

USD/JPY

Moves in a narrow range after dip to 77.62, day’s low, tested main bull trendline of 76.56, with mild recovery so far unable to regain momentum. While below 78.00 barrier, weak tone is expected to persist, with potential break below trendline support and Fibonacci 50% level at 77.60, to trigger further weakness and expose 77.28, possibly 77.00 on a break. Only clear break above 78.00 would improve near-term structure and re-focus recent highs at 78.27/44.

Res: 77.85, 78.00, 78.14, 78.27

Sup: 77.62, 77.50, 77.28, 77.00

USD/CHF

Today’s corrective dip off day’s fresh high at 0.9294, was contained by hourly 20 day SMA at levels just above our initial support at 0.9200. Fresh gains are en-route to 0.9300 barrier, above which to look for retest of 0.9313/28 peaks and resume broader uptrend. Near-term studies remain supportive and only loss of strong support at 0.9200, also bull trendline off 0.9069 double bottom, would weaken near-term structure.

Res: 0.9285, 0.9294, 0.9300, 0.9313

Sup: 0.9242, 0.9215, 0.9200, 0.9164

[Guest WindsorBrokers]

EUR/USD

Recovery attempt from 1.3332, yesterday’s low, stalled at 1.3454, en-route to 1.3485, with subsequent reversal accelerating decline on pessimistic news from Germany. The pair has so far erased over 76.4% of 1.3332/1.3454 rally, losing 1.3360 support, the last barrier before retest of 1.3332, near Fib 61.8% of 1.3211/1.3547 upleg, also triangle support. Break here to confirm lower top and extend near-term downtrend off 1.5777 high. Hourly studies favor further weakness, with figure support at 1.3300 to come on break below 1.3332. On the upside, 20 day SMA, now pointing lower, maintains the weakness, while 1.3443/54, bear-trendline / day’s high, cap for now.

Res: 1.3400, 1.3426, 1.3453, 1.3485

Sup: 1.3332, 1.3300, 1.3273, 1.3258

GBP/USD

Maintains near-term positive tone off 1.5560, yesterday’s low, as the pair breaks through 1.5640 congestion, to probe above bear-trendline off 1.5777 high. While downside remains protected at 1.5600 zone, today’s lows / triangle support, scope exists for fresh extension through trendline resistance and possible test of 1.5715/25, 05/02 Dec highs, as near-term studies are emerging out of the negative territory. Regain of levels above 1.5700 mark, would signal higher low at 1.5560, with regain 1.5777, required to confirm. On the downside, loss of 1.5600/1.5575, support band, would be bearish.

Res: 1.5669, 1.5700, 1.5715, 1.5725

Sup: 1.5640, 1.5600, 1.5576, 1.5560

USD/JPY

Near-term price action gets entrenched in a narrow range, moving in directionless mode. While 77.60/50 supports stay intact, there are hopes of fresh attempt towards 78.00/10, bear-trendline / 05 Dec high, as fresh momentum emerges on hourly chart. Clearance of initial barriers at 77.80, range ceiling / 20 day SMA, is required to open way for test of 78.00 zone. Loss of 77.50, Fibonacci support, however, would signal and extension of bear-leg from 78.10.

Res: 77.85, 78.00, 78.14, 78.27

Sup: 77.61, 77.50, 77.28, 77.00

USD/CHF

The near-term price action shows the pair well bid but hesitating under initial barrier at 0.9300, as repeated attempts higher failed at 0.9294/86. Hourly studies are above their midlines, keeping the near-term focus at 0.9300 and key barriers at 0.9313/28, with 0.9235/00 support band, expected to hold and keep immediate bulls intact.

Res: 0.9286, 0.9294, 0.9300, 0.9313

Sup: 0.9235, 0.9225, 0.9215, 0.9200

[Guest WindsorBrokers]

EUR/USD

Bears remain firmly in play after the pair broke below 1.3300/1.3280, strong support zone, accelerating losses below channel support at 1.3250. Break below 1.3200, weekly Head and Shoulders neckline has so far reached 1.3160 low, just ahead of strong support at 1.3145, 04 Oct low. Corrective / consolidative phase is under way, as near-term studies are overstretched, however, upside is seen limited at 1.3280/1.3300 zone, also 20 day SMA on 4H chart, as negative sentiment continues to dominate. On the downside, loss of critical support at 1.3145 would open fresh bear-phase and expose 1.3000 zone next.

Res: 1.3250, 1.3280, 1.3290, 1.3300

Sup: 1.3182, 1.3160, 1.3145, 1.3100

GBP/USD

Returns back to two-week range after yesterday’s brief break below 1.5560 range floor, found support at 1.5536. Regain of 1.5600 handle sees potential for further extension and possible test of next barrier at 1.5660 zone, as hourly conditions are improving. However, broader picture’s bearish tone remains in play as long as 1.5750/70, daily 55 day SMA and range ceiling caps the upside. Immediate supports at 1.5570, day’s low and 1.5560, Fib 61.8% of 1.5422/1.5770 ascend need to hold, otherwise, fresh weakness towards 1.5536/25 and 1.5500, would be the likely near-term scenario, with key short-term support at 1.5422 to come in focus on a break below 1.5500 figure support.

Res: 1.5623, 1.5656, 1.5664, 1.5700

Sup: 1.5597, 1.5571, 1.5560, 1.5536

USD/JPY

The pair consolidates the recent gains from 77.50 support that broke through trendline resistance and briefly tested 78.00 barrier. Holding above 77.80, range floor and broken bear-trendline off 78.27 high, would keep near-term focus higher, with clearance of 78.00 required to open next static resistances at 78.27/44. Near-term studies are still supportive, with 20 day SMA, currently at 77.70, underpinning the action. Loss of 77.80/70, however, would sour the near-term tone and re-expose initial support at 77.50.

Res: 78.00, 78.10, 78.27, 78.44

Sup: 77.80, 77.70, 77.57, 77.48

USD/CHF

Yesterday’s strong rally that cleared key obstacles at 0.9300 and 0.9313/27, ended short-term corrective phase from 0.9328, 25 Nov previous high and opened fresh leg higher, extending the broader uptrend from 0.7067, 09 Aug record low. The pair so far tested levels just under 0.9400 barrier, with shallow correction contained by 20 day SMA at 0.9350, for now. Studies on 4H chart are positive, but oversold conditions see risk of deeper correction, before fresh rally. Firm break above 0.9400 to open way for test of psychological barrier at 0.9500. On the downside, potential loss of 0.9350 support would test previous resistance at 0.9328, however, dips need to hold above 0.9300 mark, also Fib 38.2% of 0.9180/0.9386 ascend, to keep immediate bulls intact.

Res: 0.9386, 0.9400, 0.9450, 0.9500

Sup: 0.9360, 0.9350, 0.9328, 0.9300

[Guest WindsorBrokers]

USD/CHF

Corrective dip off today’s fresh high at 0.9593 was contained by 4H 20 day SMA at 0.9489. Fresh gains above 0.9500, look for retest of 0.9593, clearance of which is required to resume broader uptrend and expose 0.9700 next. Otherwise, further consolidation would be likely, with bulls in play while 0.9400 holds the downside.

Res: 0.9543, 0.9564, 0.9577, 0.9593

Sup: 0.9485, 0.9468, 0.9413, 0.9400

WindsorBrokers

Posted Today, 01:50 AM

(IP: 41.178.74.78)

EUR/USD

Remains in a near-term corrective mode after leaving a higher low at 1.2720, with break above yesterday’s high at 1.2784, now approaching initial barrier at 1.2811/20, last Friday’s high / Fib 38.2% of 1.3071/1.2665 descend. Hourly studies remain supportive for further extension higher and possible retest of strong resistance at 1.2870 zone that is expected to limit gains, as wider timeframes remain in negative territory. However, regain of levels above 1.2900, would ease bear pressure and look for test of key near-term resistances at 1.3072/1.3100. On the downside, break below 1.2665 to resume broader downtrend and open key supports at 1.2600/1.2586.

Res: 1.2795, 1.2811, 1.2820, 1.2857

Sup: 1.2760, 1.2720, 1.2700, 1.2684

GBP/USD

The pair approaches 1.5500 barrier, figure resistance / Fib 38.2% of 1.5668/1.5374, on a third day of corrective action from 1.5374, last Friday’s fresh low. To confirm near-term basing attempt, regain of 1.5520 zone, Friday’s high / Fib 50%, is required. This would confirm wider picture’s range floor at 1.5360 intact and open way for stronger recovery towards 1.5600/40. Dynamic support at 1.5455, hourly 20 day SMA, maintains near-term bulls, with further dips to be contained above 1.5420, to keep near-term positive structure.

Res: 1.5500, 1.5520, 1.5555, 1.5579

Sup: 1.5450, 1.5420, 1.5400, 1.5374

USD/JPY

Hourly structure remains negative despite dips being contained at 76.75 zone, as 20 day SMA caps the near-term price action. In addition, 90 day SMA on a daily chart, that limited the recent attempts higher, now pointing lower, keeps the downside pressure and possible test of key support at 76.50 in play, with break here to expose 76.00 and pre-intervention low at 75.55. only break above 77.20/32 to avert immediate downside risk.

Res: 77.00, 77.32, 77.40, 77.60

Sup: 76.76, 76.59, 76.55, 76.10

USD/CHF

Near-term price action shows the pair at the back foot, after losing initial support at 0.9500 and additional pressure coming from yesterday’s SNB’s head resignation. Hourly structure remains negative, with 20 day SMA maintaining the latest decline and offering initial resistance, currently at 0.9500. Next downside target lies at 0.9448, Fib 50% of 0.9303/0.9593, loss of which to possibly attract key near-term support at 0.9400 zone, daily 20 day SMA / Fib 61.8%. On the upside, strong barriers lie at 0.9500 and 0.9540, with regain of the latter required to bring bulls in play and open way for retest of yesterday’s high at 0.9593.

Res: 0.9500, 0.9540, 0.9577, 0.9593

Sup: 0.9463, 0.9448, 0.9413, 0.9400

WindsorBrokers

Posted Today, 08:20 AM(IP: 41.178.74.78)

EUR/USD

The pair extended recovery from 1.2665 low, to probe levels above 1.2800 mark, with 1.2817 high, near Fib 38.2% of 1.3071/1.2665, seen so far. Hourly studies remain supportive, as 20 day SMA maintains recent gains. Clear break above 1.2820 to open next array of resistances at 1.2870 zone, Fib 50% / 2011 low, with lift above 1.2900 required to confirm near-term base. Today’s lows at 1.2762/40, offer initial support and are expected to contain dips and keep near-term positive structure intact.

Res: 1.2817, 1.2820, 1.2857, 1.2870

Sup: 1.2762, 1.2740, 1.2720, 1.2700

GBP/USD

Gets congested under 1.5500 barrier, as today’s fresh strength failed to break higher. Three-day corrective phase off 1.5374 low, maintains positive tone as long as 1.5455/45 zone, bull trendline off 1.5374 / today’s low, holds. Break above 1.5500 triangle resistance and clearance of more important 1.5520 barrier, 06 Jan high / Fib 50%, would signal stronger recovery towards next Fibonacci level at 1.5555 and figure resistance at 1.5600.

Res: 1.5500, 1.5520, 1.5555, 1.5579

Sup: 1.5455, 1.5445, 1.5420, 1.5400

USD/JPY

Continues to move within a narrow range, after finding temporary ground at 76.75. Hourly studies are in neutral mode, however, 4H outlook maintains bearish tone, while holding below strong barriers at 77.00 and 77.32, 06 Jan peak, where gains were capped by daily 90 day SMA. Break below 76.75 and strong support at 75.50, would signal an end of corrective phase and fresh bear-leg of the broader downtrend from 78.21, 23 Dec high, with 76.00 to come in focus first.

Res: 77.00, 77.32, 77.40, 77.60

Sup: 76.76, 76.59, 76.55, 76.10

USD/CHF

Attempts to break above near-term 0.9463/0.9500 congestion, to signal possible bottoming, with regain of 0.9540 required to confirm. Hourly studies are gaining momentum, but 4H outlook still under pressure, while 20 day SMA at 0.9420 caps. On the downside, risk is seen on break below 0.9463, to open way for stronger reversal and expose strong support at 0.9400, daily 20 day SMA / Fib 61.8% of 0.9303/0.9593.

Near-term price action shows the pair at the back foot, after losing initial support at

Res: 0.9509, 0.9540, 0.9577, 0.9593

Sup: 0.9463, 0.9448, 0.9413, 0.9400

[skylady]

added your 2nd Topic to your first and dated for Jan 2012

all of Jan. posts go here...

Thank you,

skylady

[Guest WindsorBrokers]

EUR/USD

Near-term structure strengthened again after descend from 1.3212, yesterday’s high, was contained by 20 day EMA, just ahead of 1.3000 support. Strong rally regained 1.3200 handle, penetrating daily Ichimoku cloud again, but struggling to sustain gains through bear-trendline, connecting 1.3232 and 1.3212 highs. Hourly studies remain positive, with 1.3115/00 zone, today’s intraday low / 20 day SMA, required to contain dips on overbought hourlies, with clearance of 1.3200/12 required for fresh attack at 1.3232. Loss of 1.3100 handle would risk return to 1.3000.

Res: 1.3075, 1.3090, 1.3100, 1.3136

Sup: 1.3115, 1.3000, 1.3090, 1.3025

GBP/USD

Strong rally from today’s low at 1.5705, surged through critical barrier at 1.5770/1.5800, Nov/Dec range ceiling / Fib 61.8% of 1.6164/1.5266, to hit fresh 8-week high at 1.5867, just ahead of our initial target at 1.5557, 18 Nov high and figure resistance at 1.5900. Positive short-term structure remains supportive, with supports at 1.5800 and 1.5770, expected to contain corrective action on overbought near-term conditions. Only loss of 1.5700 handle would weaken near-term structure.

Res: 1.5867, 1.5887, 1.5900, 1.5940

Sup: 1.5800, 1.5770, 1.5743, 1.5700

USD/JPY

Remains under pressure after losing key med-term support at 76.50, as the pair ticked lower off near-term narrow consolidation band and tested next support at 76.00. Negative structure keeps the downside in focus, for possible test of all-time low at 75.56 and further extension lower. Immediate barriers lie at 76.40/50, ahead of 76.75/85, while only regain of 77.00 would ease bear pressure.

Res: 76.40, 76.50, 76.75, 76.85

Sup: 76.00, 75.56, 75.00, 74.50

USD/CHF

Continues to move sideways, within 0.9113/0.9250 near-term range, after corrective bounce failed to sustain gains above initial barriers at 0.9208/27, when rally ran out of steam at 0.9250. Near-term studies remain turned towards the downside, as broader downtrend from 0.9600 barrier stays intact, with break below 0.9100 to open Fibonacci levels at 0.9075 and 0.8655, 50% & 61.8%. Only lift above range ceiling at 0.9250, also near Fib 61.8% of 0.9338/0.9113 downleg, to signal bottom and allow for stronger recovery.

Res: 0.9161, 0.9183, 0.9200, 0.9250

Sup: 0.9120, 0.9113, 0.9100, 0.9075

Second post: 2.2.2012 - 12:59 AM

EUR/USD

The upside remains capped under 1.3232, previous peak / Fib 38.2% of 1.4246/1.2622, during past couple of days, as the pair continues to move sideways, holding within 1.3025/1.3200 range. Wider picture, however, keeps short-term bullish structure intact, while daily 20 day EMA holds the downside at 1.3030 zone. Clear break above initial barrier at 1.3200/12, to open 1.3232, strong resistance for retest, above which to start fresh leg higher and expose 1.3300, daily 90 day EMA. Immediate support lies at 1.3140, ahead of 1.3100/1.3075 zone that is expected to hold the downside for now. Only loss of 1.3025, yesterday’s low and 1.3000, Fib 38.2% of 1.2622/1.3232, would weaken short-term structure.

Res: 1.3190, 1.3200, 1.3112, 1.3232

Sup: 1.3140, 1.3115, 1.3000, 1.3075

GBP/USD

Maintains positive structure after sharp rally through critical 1.5770/1.5800 barrier and yesterday’s close above here. The pair has so far reached initial target at 1.5880 zone, 18 Nov high, with 1.5900, figure resistance and 1.5940, 200 day SMA / Fib 76.4%, in focus. However, overbought near-term conditions, suggest corrective pullback may precede fresh rally, with initial levels at 1.5800/1.5570, now reverted to supports, ahead of 1.5700, above which dips should be contained. Only break here would sideline immediate bulls, in favor of stronger correction.

Res: 1.5881, 1.5887, 1.5900, 1.5940

Sup: 1.5817, 1.5800, 1.5770, 1.5743

USD/JPY

Remains under pressure after losing key med-term support at 76.50, as the pair ticked lower off near-term narrow consolidation band and tested 76.00 support. Near-term price action sees the pair in sideways mode, moving within very narrow range, with negative structure keeping the downside in focus, for possible test of all-time low at 75.56 and further extension lower. Immediate barriers lie at 76.40/50, ahead of 76.75/85, are expected to cap corrective rallies. Possible action of BOJ remains on the table.

Res: 76.40, 76.50, 76.75, 76.85

Sup: 76.00, 75.56, 75.00, 74.50

USD/CHF

Continues to move sideways, within 0.9113/0.9250 near-term range, after corrective bounce failed to sustain gains above initial barriers at 0.9208/27, when rally stalled just ahead of Fib 61.8% of 0.9338/0.9113 downleg at 0.9250. Resumption of short-term downtrend from 0.9600 is seen on a break below 0.9100, to open Fibonacci levels at 0.9075 and 0.8955, 50% and 61.8%, as negative daily studies and widening Bollingers, suggest fresh weakness. Only sustained break above range ceiling at 0.9250, would allow for stronger recovery.

Res: 0.9163, 0.9183, 0.9200, 0.9250

Sup: 0.9128, 0.9113, 0.9100, 0.9075

[MrD]

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