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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 25, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s break through 1.2605 Fibonacci level, has extended decline from 1.3332, to reach 1.2586 thus far. Current consolidation is forming negative continuation and break below 1.2615/1.2586 to trigger fresh weakness towards 1.2522, 13 July low. 1.2717/28 zone expected to cap.

    Res: 1.2695, 1.2717, 1.2728, 1.2770
    Sup: 1.2615, 1.2586, 1.2565, 1.2522

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    GBP/USD

    Attempts to hold below 200 days moving average, confirming negative hourly structure.
    Scope is seen for a continuation of the recent weakness, initially towards 1.5323, 38.2% retracement of 1.4230/1.5997 upleg. Upside, 1.5500 zone caps for now and potential break here would delay short-term bears.

    Res: 1.5448, 1.5500, 1.5515, 1.5550
    Sup: 1.5371, 1.5350, 1.5335, 1.5296

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    USD/JPY

    Yesterday’s break below 84.73 support confirmed a bear configuration, to extend decline to 83.58 so far, ahead of corrective activity that precedes a fresh push lower towards key trendline support at 83.25. Above, 84.50/90 area offers initial resistance, and possible break higher to delay immediate bears.

    Res: 84.73, 84.87, 85.05, 85.42
    Sup: 83.86, 83.51, 83.25, 82.30

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    USD/CHF

    Left a lower top at 1.0449 yesterday, just below key pivotal resistance at 1.0465, ahead of sharp decline. This maintains the negative outlook, and a favors break under 1.0256, 19 Aug low, to focus 1.0182, 15 Jan low, next. Key support/target stands at 1.0130, yearly low.

    Res: 1.0335, 1.0380, 1.0400, 1.0449
    Sup: 1.0256, 1.0230, 1.0182, 1.0130

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