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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 3, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Recovery off 1.25861.2625, 24/31 Aug lows has reached 1.2855, just below off 1.2870, 38.2% retracement of 1.3332/.2586. To resume recovery, break above 1.2931 is required, while loss of 1.2740 would signal bear resumption.

    Res: 1.2855, 1.2870, 1.2903, 1.2931
    Sup: 1.2775, 1.2741, 1.2725, 1.2693

    [​IMG]


    GBP/USD

    The recent recovery from the 1.5325, 31 Aug low has tested the 23.6% retracement of the 1.5997/1.5325 downleg, at 1.5483. Although a further recovery phase may be possible a lower high remains sought for a fresh push lower and retest of 1.5325.

    Res: 1.5458, 1.5495, 1.5543, 1.5573
    Sup: 1.5350, 1.5336, 1.5325, 1.5296

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    USD/JPY

    Maintains negative tone, as recovery off 83.58 failed at 85.89. Fresh weakness has so far reached 83.81, confirming a lower ceiling at 85.59. Break under 83.81/58 opens 83.10/82.30 next, while lift above 84.59/82 may seek a lower top under 85.89.

    Res: 84.67, 84.82, 85.19, 85.46
    Sup: 83.90, 83.66, 83.51, 83.10

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    USD/CHF

    Continues to trend lower, targeting a major bear flag trendline at 1.0065, drawn off Mar 2008 low. Break here would signal significant medium to longer-term weakness, with immediate target standing at 0.9916, 2009 low, posted 26 Nov. Only regain of 1.0307 would ease bear pressure.

    Res: 1.0156, 1.0186, 1.0224, 1.0250
    Sup: 1.0093, 1.0065, 1.0027, 0.9980

    [​IMG]
     
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