Technical Summary for Majors

Technical Summary for Majors

Thu, Jul 3 2008, 15:30 GMT
by Slobodan Drvenica

Windsor Brokers Ltd


EURUSD
Continued to trend higher from 1.5303, 12 Jun low, taking out the key 1.5844 high from 09 Jun, now attacking the 1.5897, 31 Mar/21 Apr highs. Corrective dips have so far been short-lived, until the latest collapse through 1.5777. Overbought studies and a false break of 1.5897 have underpinned this retreat. Sustained loss of 1.5708, 200 day MA, shifts focus to the downside.

Res: 1.5750, 1.5779, 1.5800, 1.5827
Sup: 1.5695, 1.5684, 1.5652, 1.5628

eurusd



GBPUSD
Extended gains from 1.9409 13 Jun low, to a peak of 2.0008 01 July, follow clearance of 1.9801, 09 Jun high. Weakness from 2.0008 extended through 1.9881 higher low to 1.9845 yesterday, before bouncing to 1.9948, ahead of the latest setback. 1.9840 so far met, an extension towards 1.9801/03 may occur before fresh attempts to move higher possibly start to emerge.

Res: 1.9885, 1.9910, 1.9938, 1.9948
Sup: 1.9801, 1.9788, 1.9770, 1.9748

gbpusd 



USDJPY
Extended gains off 95.77, 2008 low, posted 17 Mar, to reach 108.59/108.42 on 16/25 Jun, forming a double top that was completed on a loss of 107.11/40. 104.99, near 62% retracement of 102.73/108.59, was seen 30 Jun, ahead of a reversal that fueled gains to 106.78 yesterday. Higher platform at 105.77/78 now buoys for a retest on 106.78, ahead of 107.22, 27 Jun high.

Res: 107.00, 107.21, 107.66, 107.85
Sup: 106.27, 105.95, 105.77, 105.45

usdjpy



USDCHF
Dipped through the 09 Jun low at 1.0149 on 30 Jun, to reach 1.0131, fully unwinding the previous recovery to 1.0541 on 13 Jun. Recovery attempts from 1.0131 were capped at 1.0230/33 on 02/03 July, ahead of a retreat to 1.0130 late yesterday/early today. Recovery attempts had stalled at 1.0166, until the latest rebound. Clearing 1.0230/33 stabilizes outlook and opens 1.0342.

Res: 1.0303, 1.0333, 1.0342, 1.0391
Sup: 1.0233, 102.09, 1.0185, 1.0165

usdchf

Published on  Thu, Jul 3 2008, 15:34 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!


GFT
Contact the broker/FDM
Open a demo account
Interbank FX, LLC
Contact the broker/FDM
Open a demo account
Crown Forex SA
Contact the broker/FDM
Open a demo account		GFS Forex & Futures
Contact the broker/FDM
Open a demo account		FXDD
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.