Technical Summary for Majors

Technical Summary for Majors

Tue, Jun 24 2008, 09:27 GMT
by Slobodan Drvenica

Windsor Brokers Ltd


EURUSD
Extended bounce off 1.5303, 13 June low, to retrace over 61.8% of 1.5843/1.5303 decline, at 1.5652 on 20 June. Sharp reversal to 1.5469 was seen yesterday, rising doubts of fresh gains and turning focus to 1.5463/60, break of which will expose 1.5440/1.5380 next. Current rally is seen corrective while 1.5587/1.5628 caps and only break there will open 1.5652/75.


Res: 1.5587, 1.5600, 1.5628, 1.5635
Sup: 1.5525, 1.5492, 1.5460, 1.5440

eurusd 



GBPUSD
Rally from 1.9408, 13 June low, reached 1.9788 on 20 June, to nearly fully retrace 1.9799/1.9408 decline. Reversal to 1.9584 was seen yesterday, ahead of today’s fresh strength. This, however, needs to clear 1.9700/45 to avert immediate downside risk and trigger upside extension towards 1.9800 zone first and 1.9850, 23 May high, furthermore. Failure at 1.9700/45 will bring retest of 1.9584 in focus, with possible break lower to signal stronger correction.

Res: 1.9700, 1.9730, 1.9745, 1.9771
Sup: 1.9624, 1.9584, 1.9555, 1.9525

gbpusd



USDJPY
Continues to trend higher from 95.72, 17 Mar yearly low, to reach 108.58 on 16 June, just ahead of key 108.62, 14 Feb high. Corrective pullback to 107.11 was then seen, ahead of fresh bulls attempting at 108.58/62 again, with 108.21 high seen today. Clearance of 108.58/62 will open 109.12/56, possibly 109.95 on a break while immediate support now stands at 107.75.

Res: 108.21, 108.42, 108.60, 108.89
Sup: 107.78, 107.53, 107.43, 107.29

usdjpy



USDCHF
Extended retrace of the 1.0147/1.0539, 09/13 June recovery, to reach 1.0303 low on 20 June, just above 1.0296, 61.8% retracement. Fresh rally followed, clear 1.0468/73, 18/19 June highs with 1.0492 being reached so far. This has risen hopes of extension of an uptrend from 1.0147, with current pullback seen corrective, ahead of fresh attempt at 1.0492, break of which will open 1.0518/39 next

Res: 1.0443, 1.0458, 1.0469, 1.0492
Sup: 1.0376, 1.0331, 1.0317, 1.0303

usdchf

Published on  Tue, Jun 24 2008, 09:30 GMT

Archive

Windsor Brokers Ltd  | Windsor Business Center, 53, Spyrou Kyprianou Av., Limassol, Cyprus
http://www.windsorbrokersltd.com | customerservices@windsorbrokersltd.com

Legal disclaimer and risk disclosure

The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Interested in forex trading? forex brokerage firms!


Forex Capital Markets, LLC (FXCM)
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account		Crown Forex SA
Contact the broker/FDM
Open a demo account		Deutsche Bank
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.