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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 1, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Holding below 1.2451, 28 May spike high, confirms the bear structure as the market continues to consolidate above the key 1.2153/34 region. Break here is needed to trigger a fresh phase lower. Upside, 1.2334 caps for now. Only regain of 1.2451/80 firms.

    Res: 1.2334, 1.2381, 1.2393, 1.2451
    Sup: 1.2176, 1.2153, 1.2142, 1.2134

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    GBP/USD

    Continues corrective / consolidative phase off 1.4230 annual low, with 1.4610 limiting the upside for now. 1.4399/65 offers immediate support for fresh attempt higher, and break above 1.4610 to open 1.4639/1.4701 next. Below 1.4365, however, to favor a possible return to 1.4257/30.

    Res: 1.4547, 1.4592, 1.4610, 1.4639
    Sup: 1.4437, 1.4399, 1.4365, 1.4329

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    USD/JPY

    Maintains positive structure off 88.95/89.21, with 91.21 seen so far. Reversal is now under way, with immediate support standing at 90.58, and higher low above there is needed to resume recovery. Otherwise, break below 90.58 would extend correction and target next significant levels at 89.91/80.

    Res: 91.61, 91.86, 92.14, 92.42
    Sup: 90.58, 90.19, 89.91, 89.80

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    USD/CHF

    Break up through 1.1592/1.1623 completes a bull flag that resumes underlying strength. Today's low at 1.1522 now underpins advance, through 1.1655/94, to target key 1.1774 trendline drawn off Feb 2006 high.

    Res: 1.1655, 1.1694, 1.1725, 1.1742
    Sup: 1.1522, 1.1479, 1.1449, 1.1417


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