Market Report by Windsor Brokers Ltd

[Oscar09]

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EURUSD
Continues to trade within a bull channel following bounce 1.4441 07 Feb low. Fresh high of 1.4615 was reached yesterday ahead of reversal to 1.4538 with subsequent bounce higher being limited by 1.4590/98. Current downmove is attempting at 1.4638 though short-term bulls will remain in play while 1.4525/1.4497 trendline support/yesterday’s low stay intact.

Res: 1.4598 1.4615 1.4625 1.4660
Sup: 1.4538 1.4525 1.4497 1.4481


GBPUSD
Extends gains 1.9386 07 Feb higher low with break through yesterday’s 1.9629/32 high reaching new high of 1.9654 today retracing between 38.2% 50% of the 1.9957/1.9386 downleg. Correction lower is underway seeking for higher low above 1.9550 ahead of fresh attempt higher. Hourly studies are supportive break above 1.9654 to expose 1.9672 50% ahead of 1.9710/37. Loss of 1.9550 will delay bulls open way for ffice:smarttags" />>

Res: 1.9632 1.9654 1.9664 1.9672
Sup: 1.9550 1.9529 1.9509 1.9490



USDJPY
Decline 114.65 27 Dec high bottomed at 105.00 on 23 Jan with subsequent recovery being limited by 107.89/82 25 Jan/07 Feb highs. Succession of higher lows however kept bulls favored with today’s attempt through the latter having seen an upside extension to 108.37 so far. Further gains are seen towards 108.67/109.16 though overbought haurly studies warn of corrective pullback before fresh strength with 107.82/52 offering initial support.

Res: 108.67 108.95 109.16 109.72
Sup: 107.82 107.65 107.52 107.22



USDCHF

Continues recovery 1.0728 new all-time 01 Feb low with 1.1102 high being reached on 07 Feb. Correction to 1.0946 followed ahead of fresh gains now attempting at 1.1102 with overshoot to 1.1106 seen so far. However bulls remain firmly in play break here will expose 1.1125/70 area next while 1.1009/1.0979 zone underpins.


Res: 1.1106 1.1125 1.1156 1.1170
Sup: 1.1056 1.1046 1.1009 1.0979

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