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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 18, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains near-term bearish tone from 1.4281, 14 July high. Today’s lower opening confirms, with break below Fib 50% of 1.3836/1.4281 at 1.4058 and loss of 13 July low at 1.4035, now looking for test of Fib 61.8% at 1.4006, below which and psychological 1.4000 level would open 1.3950 first, with possible full retracement and test of 1.3836 favored. On the upside, 1.4090/1.4110, Friday’s intraday lows / 20 day MA, offers immediate resistance, while only break above 1.4200 barrier would ease bear pressure.

    Res: 1.4090, 1.4110, 1.4188, 1.4198
    Sup: 1.4006, 1.4000, 1.3950, 1.3900

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    GBP/USD

    Hovers at 1.6100 zone, following pullback from 1.6192, 14 July high, with 20 day MA, currently at 1.6096, containing dips for now. Further reversal, however, would be targeting strong support at 1.6050/30 zone, daily 200 day MA / Fib 50% of 1.5343/1.6745 upleg and 38.2% of 1.5779/1.6192 ascend, loss of which to weaken the structure and signal an extension of the broader bear-trend. Regain of 1.6200 barrier improves and opens way for fresh leg higher, as a part of the short-term bull-trend from 1.5779, towards 1.6261, 22 June high.

    Res: 1.6164, 1.6192, 1.6248, 1.6261
    Sup: 1.6066, 1.6050, 1.6030, 1.6000

    [​IMG]


    USD/JPY

    Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

    Res: 79.16, 79.27, 79.59, 79.68
    Sup: 78.88, 78.55, 78.45, 78.00

    [​IMG]



    USD/CHF

    Near-term corrective phase off fresh record low at 0.8073 was short-lived, as gains stalled just under 0.8200 barrier and fresh weakness nearly fully retraced 0.8073/0.8197 upleg, dipping to 0.8077 overnight. Current recovery attempt is so far seen capped at 0.8200, with break here required to signal stronger correction towards 0.8273/0.8300. Holding below 0.8200, however, keeps bears in play for fresh attempt through 0.8073, towards 0.8000/0.7900 targets.

    Res: 0.8200, 0.8280, 0.8309, 0.8365
    Sup: 0.8077, 0.8073, 0.8050, 0.8000

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