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Windsor Brokers - Short Term Technical Analysis for Majors (08:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 12, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extended losses trough1.2609 support today, following an upside rejection of the rally from 1.2515 at 1.3093 on 10 May. Next target stands at 1.2515, and break here to expose key longer-term supports at 1.2455/1.2331. Upside, 1.2750/60 offers immediate resistance, while only clearance of 1.3093/1.3113 firms.

    Res: 1.2706, 1.2760, 1.2807, 1.2815
    Sup: 1.2602, 1.2569, 1.2515, 1.2455

    [​IMG]


    GBP/USD

    Attempt to form higher low at 1.4719, yesterday's low, is now confirmed. Fresh gains towards 1.5052/81 is now expected, though, risk still seen for a lower high to form, ahead of fresh weakness, and break through 1.4475 to open way towards 1.3500 short-term.

    Res: 1.5005, 1.5052, 1.5081, 1.5107
    Sup: 1.4858, 1.4786, 1.4759, 1.4719

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    USD/JPY

    Recovery off 87.96/90.83 has stalled at 93.52, ahead of reversal. 92.18 low has been reached yesterday, with further weakening to open way for test of 91.64 and 90.83, ahead of possible extension to 87.96. Only regain of 93.52 improves and opens 93.98.

    Res: 93.12, 93.37, 93.52, 93.98
    Sup: 92.18, 91.64, 90.83, 90.00

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    USD/CHF

    Extended gains to 1.1244 high, seen on 06 May, ahead of corrective phase. Fresh gains off 1.0923 higher low, now seek for retest of 1.1244/62 to target 1.1484, 76% retracement of 1.1966/0.9916 decline. Downside, 1.1034 offers immediate support.

    Res: 1.1155, 1.1180, 1.1216, 1.1244
    Sup: 1.1034, 1.1014, 1.0954, 1.0923

    [​IMG]
     
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