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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 26, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains negative tone, as bounce off 1.2176, yesterday’s low, stalled at 1.2386, just ahead of pivotal 1.2415 level. If lower top at 1.2386 confirmed, fresh weakness is likely, and below 1.2176 to focus key 1.2142/34 supports. Potential loss here may open a significant weakness short-term, to target 1.1823, Feb 2006 low. Only break above 1.2415 to provide relief.

    Res: 1.2386, 1.2415, 1.2445, 1.2480
    Sup: 1.2261, 1.2176, 1.2142, 1.2134

    [​IMG]


    GBP/USD

    Remains in a consolidative mode within 1.2430/1.4527 range. Fresh weakness is now likely, with loss of 1.4230 to focus 1.3500 zone medium-term. Upside, break above 1.4527 is needed to improve the outlook.

    Res: 1.4446, 1.4462, 1.4500, 1.4527
    Sup: 1.4329, 1.4304, 1.4257, 1.4230

    [​IMG]




    USD/JPY

    Corrective attempt from 88.95 remains so far capped by 90.60, with the latest bounce off 89.21 attempting to leave a lower top, ahead of fresh weakness. Break below 89.21 opens 88.95, ahead of key trendline support at 88.35. Break above 90.60/93 delays immediate bears and open way for stronger recovery.

    Res: 90.60, 90.77, 90.93, 91.10
    Sup: 89.75, 89.21, 88.95, 88.35

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    USD/CHF

    Corrects lower after reaching a series of yearly highs, with the latest at 1.1694 posted yesterday. Positive structure remains intact while 1.1511 spike low holds, and fresh gains through 1.1694 to target 1.1785, trendline resistance. Below 1.1511, however, allows stronger pullback and opens 1.1449 instead.


    Res: 1.1622, 1.1694, 1.1725, 1.1742
    Sup: 1.1550, 1.1511, 1.1449, 1.1417

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