FXstreet.com

0

0

Technical Summary for Majors

Wed, Oct 15 2008, 13:41 GMT
by Slobodan Drvenica

Windsor Brokers Ltd


EURUSD

Dipped to a fresh yearly low at 1.3258 on 10 Oct, as of downtrend from 1.4864, 22 Sep lower top, broke under 1.3881, 11 Sep previous low. Current consolidation/correction phase seeks for clearance of 1.3769/85, key resistance area, to mark a bottom, for significant recovery. Downside, 1.3535 now offers initial support and loss of the latter will dampen bulls for fresh push lower. 1.3485/43 area is seen next, ahead of final push towards 1.3258.


Res: 1.3694, 1.3769, 1.3785, 1.3804
Sup: 1.3570, 1.3535, 1.3485, 1.3443

eurusd



GBPUSD

Extends recovery after weakness 1.8668, 25 Sep lower top, extended loss to reach 1.6775, new yearly low on 10 Oct. 1.7629 was reached yesterday, with subsequent easing to 1.7380. Fresh advance now underway, with clearance of 1.7629 and 1.7655, 08 Oct high, needed to resume recovery towards 1.7714/30, possibly 1.7837, 03 Oct high, on a break. 1.7425/1.7380 now underpins the advance and only loss of the latter would allow stronger recovery.

Res: 1.7629, 1.7655, 1.7714, 1.7730
Sup: 1.7496, 1.7425, 1.7380, 1.7335

gbpusd


USDJPY
Rally off 95.72, March’s low, reached 110.67 on 15 Aug before topping, as a negative structure developed. A lower rejection at 97.91 and consolidation formed a reversal that was completed on a break above 101.00 on 13 Oct. 103.06 high was seen yesterday, ahead of a ease. Currently, 100.85 supports the scope for a fresh upswing towards 103.50, possibly 104.30. Break below 100.85, however, will turn focus lower.

Res: 101.92, 102.26, 102.53, 103.06
Sup: 100.85, 100.40, 99.99, 99.56

usdjpy 


USDCHF
Rallied off 1.0690, 22 Sep low, to reach 1.1488 high on 06 Oct, before reversal to 1.1129. A lower rejection here has set up a recovery phase, and lower peaks are anticipated as momentum weakens. 1.1440 now provides a key cap while loss of 1.1275 would trigger a fresh weakness towards 1.1129. Sustained break above 1.1440 is needed to open a fresh attempt higher, targeting 1.1488, possibly 1.1524 on a break.

Res: 1.1414, 1.1444, 1.1488, 1.1524
Sup: 1.1316, 1.1275, 1.1240, 1.1218

usdchf


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.

Related reports

Forex Analysis on Majors - Further Interest Rate Decrease in Japan may Cause Various Problems on the Market by Forex Ltd
Tue, Dec 2 2008, 08:32 GMT

Daily Forex and Dow Jones Recommended Levels by FXtechtrade
Tue, Dec 2 2008, 08:15 GMT

Index Recommended Levels - Index Recommended Levels by FXtechtrade
Tue, Dec 2 2008, 08:12 GMT

US: A manufacturing collapse by Danske Bank A/S
Tue, Dec 2 2008, 07:50 GMT

Asia Market Update - Renewed Selling in US Sinks Asian Bourses by TradeTheNews.com
Tue, Dec 2 2008, 07:48 GMT

eurusd, gbpusd, usdchf, usdjpy

View All

Related content

HIGHLIGHTS-BOJ's Shirakawa says conditions less accommodative
Thomson Financial News | Tue, Dec 2 2008, 08:29 GMT

Japan trust fund outflow slows in Nov after selloff
Thomson Financial News | Tue, Dec 2 2008, 08:12 GMT

TOPWRAP 2-Australia cuts rates, Japan acts on funding squeeze
Thomson Financial News | Tue, Dec 2 2008, 07:51 GMT

REFILE-JGBs rise on Nikkei's slide, surge in Treasuries
Thomson Financial News | Tue, Dec 2 2008, 07:46 GMT

BOJ says can provide 3 trln yen in new operations
Thomson Financial News | Tue, Dec 2 2008, 07:28 GMT

eurusd, gbpusd, usdchf, usdjpy

View All

Interested in forex trading? forex brokerage firms!


Interbank FX, LLC
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
ACM USA LLC
Contact the broker/FDM
Open a demo account
GFS Forex & Futures
Contact the broker/FDM
Open a demo account
Easy-Forex® Trading Platform
Contact the broker/FDM

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.

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.