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Short Term Technical Analysis for Majors (08:15GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 17, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Deep pullback off 1.3334 (06 Aug high) found support at 1.2734 yesterday, just above 1.2732, the key 21 Jul higher low. Market now attempting to base & over 1.2872 firms for 1.2906/1.2933. Below 1.2800 re-tests 1.2732-34, guards 1.2615.

    Res: 1.2910, 1.2950, 1.3030, 1.3055
    Sup: 1.2800, 1.2775, 1.2730, 1.2615

    [​IMG]

    GBP/USD
    Structure of the rise from the 16 Aug intraday low at 1.5553 suggests scope for a pullback towards 1.5620. However, failure to garner support in that region will warn of the resumption of weakness

    Res: 1.5705, 1.5765, 1.5815, 1.5865
    Sup: 1.5620, 1.5595, 1.5555, 1.5530

    [​IMG]

    USD/JPY
    Recovery attempt off 84.72 stalled at 86.39 Fri before breaking lower from a rising wedge. This confirms the underlying negative structure. 85.97 likely caps above for an initial retest on 84.72 where an eventual loss is expected.

    Res: 85.45, 85.95, 86.45, 86.65
    Sup: 85.10, 84.75, 84.00, 83.50

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    USD/CHF
    Last upswing stalled at 1.0630 last Thursday, under key resist at 1.0646. An hourly head & shoulders top has fueled a drop back towards 1.0332, the lower level of n-tern 1.0332 to 1.0640 sideways consolidating towards 1.0231.

    Res: 1.0440, 1.0465, 1.0510, 1.0555
    Sup: 1.0350, 1.0305, 1.0231, 1.0200

    [​IMG]
     
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