Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)
 

EURUSD

The Euro reached a downtrend low of 1.3365 on the 30th of July. It dropped back to this level on the 31st and failed to break it confirming it as a support; as a result we saw it rise the next session on Friday 65 pips to achieve a high of 1.3443 which is our first resistance level for today.
On the short term our outlook is bullish if EURUSD can hold above 1.3400, with targets at 1.3445 & 1.3455. However we are not expecting any important figures which could lead the weak trading today

Res: 1.3445, 1.3475, 1.3500
Sup: 1.3315, 1.3340, 1.3365




GBPUSD

Sterling has been dropping strongly over the past 2 weeks finding no problems achieving new lows for the current downtrend on all time frames. The downtrend started on the 15th of July from 1.7190 and achieved a new low on last Friday of 1.6807. A lot of momentum indicators are telling us it