Market Report by Windsor Brokers Ltd

[Oscar09]

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EURUSD
Continues to trade within a bull channel, following bounce from 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 from 1.9386, 07 Feb higher low, with break through yesterday’s 1.9629/32 high, reaching new high of 1.9654 today and retracing between 38.2% and 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 and break above 1.9654 to expose 1.9672, 50%, ahead of 1.9710/37. Loss of 1.9550 will delay bulls and 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 from 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 from 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 and 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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