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Windsor Brokers - Short Term Technical Analysis for Majors (07:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 13, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends correction from today’s low at 1.4320, to approach 1.4400 level. Hourly studies remain supportive for further gains into 1.4450/1.4500 zone, where a lower top is lower top is seen ahead of fresh leg lower. Loss of strong support zone at 1.4300 would open 1.4250, 30 May lows / Fib 61.8% of 1.3968/1.4695 ascend. On the upside, break above 1.4500 would ease bear pressure, but clearance of 1.4550/60 is required to confirm higher low at 1.4320.

    Res: 1.4390, 1.4400, 1.4450, 1.4460
    Sup: 1.4350, 1.4320, 1.4306, 1.4250

    [​IMG]


    GBP/USD

    Has found near-term support just above 1.6200, ahead of fresh rally through 1.6300 barrier, to retrace 50% of 1.6465/1.6215 downleg at 1.6340. Ideally, lower top at this point, as 4-hour 20 day and daily 55 day MA’s are attempting to cap, ahead of fresh leg lower, would be the scenario for continuation of short-term downtrend from 1.6646. Initial supports lie at 1.6250, today’s intraday low, ahead of triangle support at 1.6223 and today’s low at 1.6214, loss of which would open 1.6131 next. Only break above Fibonacci level at 1.6370 and Friday’s high at 1.6380 would confirm recent price action and re-open 1.6400/70 zone for test.

    Res:1.6343, 1.6357, 1.6370, 1.6380
    Sup: 1.6250, 1.6223, 1.6214, 1.6200

    [​IMG]


    USD/JPY

    Corrective action from 79.68, 08 May fresh one-month low, regained 80.00 handle, extending gains above 80.45, Friday’s high, to hit 80.68, ahead of pullback. Hourly 20 day MA is expected to hold, to maintain near-term positive structure, for possible attempt at 81.00/31 zone next. On the downside, loss of 80./30/20 support area would risk fresh weakness towards 80.10/00, below which would turn bearish and expose 79.68/55, possibly 79.06 on a break.

    Res: 80.46, 80.70, 81.00, 81.31
    Sup: 80.25, 80.10, 80.00, 79.68

    [​IMG]



    USD/CHF

    Corrective attempt from 83.25 record low has extended above of 0.8444, 09 June previous high, but rally was short-lived, as gains stalled at 0.8466 and sharp decline under 0.8400 handle followed, as bearish divergence on hourly chart signaled. Losses were contained by 0.8350 support for now, however, negative near-term structure keeps fresh weakness towards 0.8325 and lower, favored, with corrective attempts seen capped under 0.8400 barrier.

    Res: 0.8380, 0.8400, 0.8450, 0.8466
    Sup: 0.8350, 0.8325, 0.8300, 0.8250

    [​IMG]
     
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