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Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 15, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extended recovery off 1.1875, fresh yearly low, clearing 1.2272 resistance, to reach 1.2297 high thus far. Immediate pullback followed, with 1.2162 offering initial support, and while above here, scope remains for fresh push higher. Break above 1.2297 to expose 1.2325/66. Loss of 1.2162/49, however, allows stronger correction towards 1.2110/1.2045.

    Res: 1.2232, 1.2297, 1.2325, 1.2355
    Sup: 1.2162, 1.2149, 1.2110, 1.2074

    [​IMG]


    GBP/USD

    Ascend from 1.4230, 20 May low, is still seen corrective with yesterday’s break above 1.4769 signaling the scope for a test of 1.4874, 50% retracement of 1.5518/1.4230 downleg, with 1.4807 being reached so far. An eventual lower high is expected for a return to 1.4230.

    Res: 1.4773, 1.4807, 1.4820, 1.4860
    Sup: 1.4695, 1.4668, 1.1607, 1.4501

    [​IMG]


    USD/JPY

    Break of last week’s 4 day wedge extended gains to 92.10, ahead of 92.33/59, key trendline resistances. Immediate reversal cleared 91.59/21 supports, approaching now key 90.95/83 levels and triangle support at 90.76, break of which will turn near-term tone negative.

    Res: 91.69, 92.10, 92.20, 92.33
    Sup: 90.95, 90.83, 90.76, 90.53

    [​IMG]


    USD/CHF

    Continues to trend lower off 1.1730 peak, with fresh low of 1.1348 reached yesterday. Bounce from here followed, currently attempting at 1.1473. Clearance of the latter will open way for further correction and focus 1.1545/53. Failure to do so, keeps immediate bears in play for 1.1348 retest and possible extension to 1.1266.

    Res: 1.1473, 1.1502, 1.1545, 1.1553
    Sup: 1.1395, 1.1348, 1.1325, 1.1300

    [​IMG]
     
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