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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 6, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Continues to trend higher after breaking above triangle, with 1.2610 high seen so far. Yesterday’s correction low at 1.2477 underpins the latest strength, and through 1.2610 to focus at 1.2671, 21 May high. Potential break here to open way towards 1.2738 next. Loss of 1.2477 would delay immediate bulls.

    Res: 1.2610, 1.2671, 1.2738, 1.2760
    Sup: 1.2477, 1.2432, 1.2396, 1.2304

    [​IMG]


    GBP/USD

    The latest break above the 1.5160/80 resistance zone signals a return to 1.5228, 02 July peak for a potential push to 1.5301, 38.2% retracement of 1.7044/1.4230 decline. Failure to break higher here will warn of a reversal, with loss of 1.5080/75 support to delay bulls.

    Res: 1.5210, 1.5228, 1.5265, 1.5301
    Sup: 1.5075, 1.5041, 1.5023, 1.4974

    [​IMG]


    USD/JPY

    Maintains negative structure, with break below key medium-term trendline, triggering fresh losses to 86.96, ahead of a corrective bounce. Lower top is now required for retest of 86.96, break of which to expose 86.15, then 84.82/83.30 near-term. Upside, 88.22/56 caps for now.

    Res: 88.05, 88.22, 88.56, 88.77
    Sup: 87.32, 86.96, 86.60, 86.15

    [​IMG]


    USD/CHF

    Attempts to complete a 3 day bear flag as the market continues to trend lower towards key supports at 1.0503 and 1.0435. Yesterdays high at 1.0675 now likely caps while break above 1.0695 needed to suggest possible basing.

    Res: 1.0675, 1.0695, 1.0749, 1.0765
    Sup: 1.0561, 1.0528, 1.0503, 1.0435

    [​IMG]
     
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