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Short Term Technical Analysis for Majors (15:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 10, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Recovery attempt from 1.3163 failed to attack 1.3322, key near-term resistance, leaving lower top at 1.3281 for fresh weakness. Loss of 1.3200 opens 1.3163 pivot, break of which would signal an extension of pullback from 1.3426 and expose 1.3143, 61.8% Fibonacci level next.

    Res: 1.3281, 1.3322, 1.3352, 1.3399
    Sup: 1.3163, 1.3143, 1.3105, 1.3060

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    GBP/USD
    Recent strength from 1.5710 higher low has breached 1.5840 barrier, extending gains to 1.5861, ahead of reversal. This is seen corrective while 1.5710 holds and gains through 1.5840/61 to focus 1.5889 next. Below 1.5710 would delay bulls for deeper correction, initially targeting 1.5667.

    Res: 1.5824, 1.5840, 1.5861, 1.5889
    Sup: 1.5745, 1.5725, 1.5710, 1.5667

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    USD/JPY
    Pullback from 84.29 found support at 83.44, ahead of fresh strength, keeping the near-term bulls in play. First barrier lies at 84.08, with break here to seek for 84.29/39 retest and possible resumption of uptrend from 80.42. 83.44 now underpins the advance.

    Res: 84.08, 84.29, 84.39, 84.60
    Sup: 83.44, 83.31, 83.08, 82.98

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    USD/CHF
    Recovery attempt off 0.9724 has run out of steam at 0.9913, with fresh weakness under way. Break below 0.9754 is needed to re-expose 0.9724, break of which would delay short-term recovery from 0.9461 and open 0.9700/0.9668. Upside, Break above 0.9913 is required to continue recovery and turn focus to 0.9948.

    Res: 0.9893, 0.9913, 0.9948, 1.0020
    Sup: 0.9796, 0.9754, 0.9724, 0.9700

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