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Technical Summary for Majors

Fri, Aug 15 2008, 06:38 GMT
by Slobodan Drvenica

Windsor Brokers Ltd


EUR/USD – 9:00 (GMT+3)     Rolls lower out of past 2-day consolidation to extend decline from 1.6040 record high. Further decline below 1.4761 Fib 76.4% retrace of 1.4365/ 1.6040 rise risk extension towards 1.4702 21 Feb low next although positive hourly divergences may otherwise suggest basing ahead. Regaining 1.4952 high and Wednesday's 1.4980 to firm.

 

Res: 1.4826, 1.4840, 1.4870, 1.4907

Sup: 1.4750, 1.4702, 1.4642, 1.4611

EURUSD

 

 

 

USD/JPY – 9:00 (GMT+3)         Firming off Wednesday's decline at 108.35 to retrace the drop from congestive tops at 110.40 11 Aug region. Headway now above the latter may see acceleration towards 111.0 ahead of equality projection at 111.65/70 as hourly structure off 109.03 low may reflect pent-up bull. Weekly cycle low however may otherwise suggest stalling to risk next minor down-leg instead.

 

Res: 110.40, 111.00, 111.30, 111.69

Sup: 109.54, 109.33, 109.03, 108.55

 

USDJPY

 

 

GBP/USD – 9:00 (GMT+3)      Remains dominated by downtrend from 2.0162 15 Jul reaction high which extended to a near 2-year low at 1.8619, followed by a bounce to 1.8788 Thursday. Oversold recovery remains dubious until price action above 60-hour/5-day MAs now at 1.8763/1.8825 is seen. However, placement of the 1.8619 low at the exact 61.8% retrace level of 1.7047/2.1162 rally may avert test of 1.8582/74.

 

Res: 1.8788, 1.8735, 1.8770, 1.8788

Sup: 1.8639, 1.8614, 1.8582, 1.8574

GBPUSD

 

 

USD/CHF –  9:00 (GMT+3)     Firming to breach Tuesday/Wednesday's tops at 1.0930/27 to extend current upswing from 1.0011 15 Jul low. Further rise is set at 1.1005/10 equality projection next ahead of minor congestive lower tops at 1.1048 11/18 Feb although negative hourly divergences warn stalling risk ahead. A relapse below Tuesday's 1.0825 low weakens.

 

Res: 1.1008, 1.1034, 1.1048, 1.1098

Sup: 1.0922, 1.0895, 1.0874, 1.0825

USDCHF

Published on  Fri, Aug 15 2008, 06:43 GMT


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