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Windsor Brokers - Short Term Technical Analysis for Majors (07:50 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 20, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Reversal from 1.3156, last Friday’s high, also near 76.4% retracement of 1.3332/1.2586 downleg, warns of pullback towards 1.2955/20 zone, to possibly complete 3-legged swings from 1.2586. Upside, regain of1.3156/86 is needed to firm for return to 1.3332.

    Res: 1.3130, 1.3156, 1.3186, 1.3227
    Sup: 1.3020, 1.2975, 1.2955, 1.2920

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    GBP/USD

    Last Friday’s upside rejection at 1.5728, 61.8% retracement of 1.5997/1.5295 decline, triggered correction, with 1.5610 seen so far. While above 1.5571, scope remains for further gains within rising hourly channel, and retest of 1.5728. Loss of 1.5571, however, would weaken the near-term tone and open 1.5535 instead.

    Res: 1.5728, 1.5760, 1.5820, 1.5865
    Sup: 1.5610, 1.5595, 1.5571, 1.5535

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    USD/JPY

    Strong rally off 82.86 yearly low, tested 85.91/92, 19/30 Aug highs, though clear break here is requested to resume gains towards 86.38, 38.2% level. Correction lower is underway, with 85.21 expected to hold, to keep immediate bulls in play, while break here would signal an end of correction from 82.86.

    Res: 85.91, 86.38, 86.89, 86.99
    Sup: 85.50, 85.21, 85.00, 84.72

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    USD/CHF

    Soared through 1.0050/61 resistance last week, to extend corrective phase off 0.9931. A lower top is now in place at 1.0181, 17 Sep high, near trendline drawn off 1.0625, 12 Aug high. The latest upside rejection at 1.0116 supports return to 0.9997/31.

    Res: 1.0116, 1.0149, 1.0181, 1.0197
    Sup: 0.9998, 0.9965, 0.9931, 0.9916

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