Search
0
0
Technical Summary for Majors
Wed, Aug 20 2008, 12:25 GMT
by Slobodan Drvenica
EURUSD
Extended the decline from 1.6040, historical high, 1.4659, 15 Aug low, to reach 1.4631 yesterday, ahead of the latest rebound through 1.4768 lower top to test 1.47941.4807 area. Reversal is now seen, scope for 1.4709/1.4686 zone to contain, ahead of a recovery extension to 1.4826/40, possibly 1.4952/80 on a break.
Res: 1.4777, 1.4807, 1.4826, 1.4840
Sup: 1.4676, 1.4659, 1.4631, 1.4611
GBPUSD
Extended month-long decline from 2.0162, to reach 1.8510 low on 15 Aug, ahead of correction higher to 1.8723. Weakness from there left a higher low at 1.8538 yesterday, but fresh upside attempts have so far stalled at 1.8680/88, below 1.8723, 19 Aug high. However, hopes of a higher low forming above 1.8538 are now in doubt and failure to regain 1.8640/46 may trigger a fresh downside attack on 1.8510.
Res: 1.8646, 1.8673, 1.8695, 1.8723
Sup: 1.8538, 1.8510, 1.8500, 1.8484
USDJPY
Reached yearly low 95.77 on 17 Mar, from where a strong recovery has thus far met 108.59, 16 June high. A three legged retracement found renewed strength at 103.77 on 16 July, from where the recent upswing began. The latest lift above 108.59 targets 111.60, 17 Aug 07 low next and then 112.10, 02 Jan high. Loss of 108.35 defers, and below 103.77 changes the current bullish structure.
Res: 110.40, 110.66, 111.00, 111.30
Sup: 109.51, 109.33, 109.03, 108.55
USDCHF
Extended gains from 1.0011, 15 July low, through 1.1009, 15 Aug high, to reach 1.1033 yesterday, ahead of a reversal through 1.0955/45 and 1.0910 higher lows. This reached reached 1.0897 low today, ahead of the latest correction higher, attempting to test the 1.0981/1.1009 area, where a lower top has potential to form for a deeper retreat toward 1.0874/36, possibly 1.0779/42, if 1.0825 is cleared.
Res: 1.1009, 1.1034, 1.1048, 1.1065
Sup: 1.0932, 1.0910, 1.0895, 1.0874
Published on Wed, Aug 20 2008, 12:29 GMT
Archive
- Technical Summary for Majors
Published On Mon, Dec 1 2008, 16:13 GMT - Technical Summary for Majors
Published On Fri, Nov 28 2008, 10:49 GMT - Technical Summary for Majors
Published On Wed, Nov 26 2008, 15:07 GMT - Technical Summary for Majors
Published On Fri, Nov 21 2008, 09:32 GMT - Technical Summary for Majors
Published On Thu, Nov 20 2008, 11:27 GMT
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!
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]
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 trade 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.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2008 "FXstreet.com. The Forex Market" All Rights Reserved.