Thread: Short Term Technical Analysis for Majors (08:00 GMT)

EUR/USD
Continues to trend higher after pullback from yesterday’s 1.3640 high found support at 1.3539. Renewed strength reached fresh two-month high at 1.3685, with scope for test of 1.3738, 61.8% Fibonacci retracement of 1.4280/1.2873 downleg, and 1.3784, 22 Nov 10 high, break of which would bring in focus 1.4280. Immediate support lies at 1.3539.

Res: 1.3685, 1.3738, 1.3784, 1.3939
Sup: 1.3624, 1.3582, 1.3566, 1.3539





GBP/USD
Fresh strength off 1.5837, 20 Jan low remains capped by 1.6020 zone so far, keeping 1.6058 high intact. However, while initial support at 1.5920 holds, scope is seen for renewed attempt through 1.6020 and retest of 1.6058, break of which is required to resume recovery from 1.5343 and open 1.6083/93. Loss of 1.5920 would turn immediate focus at 1.5837, key near-term support, with potential loss of the latter to signal stronger reversal towards 1.5785, 38.2% retracement.

Res: 1.6016, 1.6037, 1.6058, 1.6083
Sup: 1.5920, 1.5866, 1.5837, 1.5785






USD/JPY
Upside remains capped for now after fresh strength from 81.84 failed just under trendline resistance at 83.22. While holding below the latter, focus remains on test of 81.84, loss of which would signal an end of short-term recovery attempt from 80.92, and expose 81.67 next. Break above 83.10, however, opens way for further gains and possible retest of 83.67, clearance of which is required to resume recovery and expose key short-term resistance at 84.49.

Res: 82.76, 83.11, 83.45, 83.67
Sup: 82.32, 81.84, 81.67, 81.51





USD/CHF
Upside rejection at 0.9685 and reversal that followed, have so far seen losses breaking below 0.9518/00 support zone and hitting a fresh low at 0.9468. Correction higher on oversold conditions is seen capped by 0.9565, trendline resistance, while regain of 0.9621 needed to signal recovery. Downside, loss of 0.9468 opens 0.9420/00, then 0.9365.

Res: 0.9518, 0.9525, 0.9565, 0.9596
Sup: 0.9468, 0.9420, 0.9400, 0.9365

The falling price of gold at the end of last year really disturbed the value of dollar .
And with the disturbed value of dollar all other currencies were also effected .