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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Maintains weak tone from 1.3691/1.3677 area, with 1.3520 low reached yesterday, ahead of a bounce to post a likely lower ceiling at 1.3583. Break below 1.3520 would trigger further weakness to 1.3445 next. Near- term, extension to 1.3340 is likely, as medium-term structure remains negative.

    Res: 1.3595, 1.3650, 1.3677, 1.3691
    Sup: 1.3496, 1.3459, 1.3445, 1.3410

    [​IMG]


    GBP/USD

    Three legged consolidation off the recent high at 1.5523 may be completed, with scope now for a swing higher to complete the recovery off 1.4780, annual low. Only loss of 1.5335/15 to weaken the structure and allow stronger correction..

    Res: 1.5451, 1.5484, 1.5500, 1.5520
    Sup: 1.5335, 1.5315, 1.5265, 1.5235

    [​IMG]



    USD/JPY

    Testing now 92.56, 16 Apr low, after an upside failure to breach 93.79. Structure remains corrective off 94.78, 05 Apr high. Strong support stands at 92.26/11 and this should buoy a fresh push higher. Break above 93.17 firms for 93.78.

    Res: 93.17, 93.70, 93.78, 94.25
    Sup: 92.52, 92.26, 92.11, 92.75

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    USD/CHF

    Rallies off 1.0500 base, short of daily falling gap at 1.0615/55, to reaffirm bearish stance towards 1.0468, 200-day MA and 1.0433 low. Sustained break above 1.0655, however, averts.

    Res: 1.0615, 1.0655, 1.0686, 1.0713
    Sup: 1.0555, 1.0500, 1.0487, 1.0433

    [​IMG]
     
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