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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 19, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Near-term slide from 1.4281, 14 July high, found temporary support just above strong support zone at 1.4000. Subsequent bounce regained 1.4100 handle, extending to 1.4135, where gains were capped by 20 day MA. Broader outlook remains bearish, with the latest weakness under 1.4100, increasing risk of fresh attempt at 1.4000, below which to focus 1.3950 and 1.3836 on a break. On the upside, regain of 1.4135 to focus 1.4200, however, main near-term barrier at 1.4281 needs to be cleared to confirm higher low at 1.4013 and resume short-term uptrend from 1.3836, 12 July low.

    Res: 1.4121, 1.4135, 1.4188, 1.4198
    Sup: 1.4067, 1.4013, 1.4006, 1.4000

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    GBP/USD

    Recovers yesterday’s sharp decline that found temporary support at 1.6000 zone, just below Fib 50% of 1.5779/1.6192 ascend. Regain of 1.6050, daily 200 day MA, improves the near-term tone, however, clearance of 1.6100 barrier, also 20 day MA, is required signal fresh strength and mark higher low at 1.6004. Key near-term resistance lies at 1.6192, above which to expose bear channel resistance at 1.6235. Failure to regain 1.6100 handle, risks reversal to 1.6000, below which exposes Fibonacci 50% and 61.8% levels at 1.1.5986 and 1.5937 respectively.

    Res: 1.6080, 1.6105, 1.6127, 1.6164
    Sup: 1.6040, 1.6030, 1.6004, 1.5986

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    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

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    USD/CHF

    Near-term outlook shows a return to strength after finding ground just above fresh record low and recent break above 0.8200 barrier. Immediate resistances lie at 0.8273, previous low and 0.8300/25 zone, above which would signal stronger recovery ahead. Wider picture show the key short-term barrier at 0.8520/50 zone, and failure to regain the latter, would risk a lower top and fresh leg lower of a longer-term downtrend.

    Res: 0.8231, 0.8273, 0.8309, 0.8325
    Sup: 0.8178, 0.8150, 0.8112, 0.8077

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