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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 12, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:
    Lack of action again for the euro as we see another day of trading within a narrow 40 pip range. Previous Resistance and support levels still hold as they were not even tested during the last two sessions. We can currently safely say that EURUSD ended its upward trend on the 1 hour chart and now is stuck in a range between 1.3940 and 1.3800.
    Res: 1.3940, 1.3970, 1.4015
    Sup: 1.3800, 1.3750, 1.3720


    Sterling manages to continue the current downtrend on the 1 hour chart by breaking another support level at 1.6620. It achieved a new low at 1.6595. We have downward signals from the momentum indicators MACD and Momentum (22) plus prices are currently below exponential moving average 55 and the Ichimoku Cloud
    Res: 1.6650, 1.6685, 1.6730,
    Sup: 1.6580, 1.6540, 1.6580


    We saw an almost 60 pip drop for the USDJPY during the previous and current session however it failed twice to break current support of 102.80. It currently trading close to that level and testing it for the third time. If it does manage to break it this will open the way for 102.25 & 101.70. However a rise above 103.75 will reverse our outlook

    Res: 103.75, 104, 104.35
    Sup: 102.80, 102.25, 101.70


    Strong upward action from Gold as we saw it break important resistance level 1354 and continue its rise to test 1362. This was the third attempt at breaking 1354, the previous two failed attempts happened on 6th and 3rd of this month. Because of this we will safely say that gold broke out of its range trading mode and we have an upward trend now on the 1 hour chart

    Res: 1362, 1375, 1388
    Sup: 1337, 1330, 1322,


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