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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 22, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Has extended rally from 1.4073, backed by positive news from Greece, regaining 1.4400 handle, to test 1.4428 barrier, 15 June intraday high. Corrective pullback was contained by 55 day MA on four hour chart at 1.4344, ahead of fresh strength. Above 1.4431, today’s high, to test 1.4456/80, Fib 61.8% of 1.4695/1.4073 downleg / daily Ichimoku cloud’s upper boundary, break of which would open key barrier at 1.4496, 14 June high. On the downside, 1.4344/00 zone needs to hold to keep immediate bulls in play.

    Res: 1.4431, 1.4456, 1.4480, 1.4496
    Sup: 1.4344, 1.4314, 1.4305, 1.4290

    [​IMG]


    GBP/USD

    Recovery attempt from 1.6077, 16 June low, broke above previous high at 1.6253, to retrace over 38.2% of 1.6545/1.6077 downleg, after corrective pullback from 1.6253 found support at 20 day MA at 1.6166. Near-term studies remain supportive for fresh push higher, however, clear break above 1.6260 is required to resume towards 1.6285/1.6300 next target zone. Corrective pullbacks need to hold above 1.6190/66, to maintain near-term positive tone.

    Res: 1.6253, 1.6260, 1.6272, 1.6285
    Sup: 1.6190, 1.6166, 1.6130, 1.6108

    [​IMG]




    USD/JPY

    Continues to trade in a narrow consolidative range after losses from 81.05, 15 June high, found support at 80.00, psychological support. Near-term studies keep the downside favored, while 80.33/36 highs, limiting the upside. Renewed attempt at 80.00 support increases risk of further weakness and below the latter to open 79.68/55, possibly 79.06, 18 Mar low, on a break.

    Res: 80.35, 80.47, 80.92, 81.05
    Sup: 80.00, 79.68, 79.55, 79.06

    [​IMG]



    USD/CHF

    Near-term structure remains weak after recovery attempt from record low at 0.8325, stalled at initial barrier at 0.8550 and subsequent reversal lost 0.8466/40 handles, to test 0.8400 support. Hourly / 4 hour studies favor further weakness while 0.8450, 20 day MA / yesterday’s high, cap, with loss of 0.8400 to expose 0.8345/25 for retest. Only break above 0.8514 would improve near-term tone, but clearance of 0.8550 is required to confirm and open 0.8600 next.

    Res: 0.8450, 0.8473, 0.8514, 0.8550
    Sup: 0.8398, 0.8345, 0.8325, 0.8300

    [​IMG]
     
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