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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 12, 2012.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The Euro holds positive stance, consolidating recent rally at 1.3000 zone. Regain of 1.3000 level, also 50% of 1.3125/1.2876 descend, sees more prospect for further recovery, as 4h studies are ascending and see room for fresh extension and test of next barrier at 1.3030, Fib 61.8%, above which 1.3085/1.3100 would come in near-term focus. However, hourly indicators are reversing from overbought zone that may signal further corrective action, with strong support at 1.2970, previous high of 07 Dec and 20/55 day EMA’s bullish crossover, expected to contain dips and keep bullish structure intact..

    Res: 1.3013, 1.3030, 1.3041, 1.3066
    Sup: 1.2995, 1.2970, 1.2950, 1.2927

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    GBP/USD

    Cable has nearly fully retraced recent 1.6127/1.6000 downleg on rally from higher base at 1.6060 and break above psychological 1.6100 barrier that posted high at 1.6121. Corrective pullback on overbought hourly studies, faces static support at 1.6060, also 50% of 1.6000/1.6121 ascend, seen as ideal reversal point, as 4h studies hold bullish momentum and keep the upside favored. However, clear break above 1.6127/29 double-top is required to confirm and open next barrier at 1.6174. Increased downside risk would be seen on slide below 1.6040 zone, 07/10 Dec highs / Fib 61.8% that would signal triple-top formation and expose lower targets.

    Res: 1.6100, 1.6121, 1.6127, 1.6129
    Sup: 1.6090, 1.6060, 1.6042, 1.6012

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    USD/JPY

    Near-term bulls are returning to play, as the price attacks the upper boundary of near-term range at 82.80 zone. Positive structure on lower timeframes studies, remains supportive, with confirmation seen on a break above 82.80/83.00 barriers that would signal an end of consolidative phase and resume larger uptrend from 77.12, 13 Sep low. Repeated failure at 82.80/83.00 would keep the pair within the range.

    Res: 82.83, 83.00, 83.29, 84.08
    Sup: 82.52, 82.32, 82.10, 82.00

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    USD/CHF

    Strong near-term support zone at 0.9320/00 remains under pressure, as the pair reverses, following failure on attempt at cluster of resistances at 0.9400 zone. With nearly 50% of recovery rally from 0.9239 to 0.9381, being retraced so far and negative hourly structure, downside remains at risk. The notion is supported by descending 4h chart studies that are breaking into negative territory. Slide below 0.9300 to confirm lower top at 0.9381 and re-focus downside targets at 0.9254 and 0.9239. Alternative scenario sees downside rejection above 0.9300 that would keep hopes of fresh strength and possible attempt at 0.9380/0.9400, with regain of minimum 0.9367, yesterday’s high, required to confirm.

    Res: 0.9335, 0.9367, 0.9381, 0.9400
    Sup: 0.9312, 0.9300, 0.9263, 0.9254

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