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Windsor Brokers - Short Term Technical Analysis for Majors (08:10 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 9, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s failure to sustain break below trendline support at 1.2672, with 1.2658 low reached, triggered a correction higher to leave a lower top at 1.2762, ahead of fresh weakness. Market currently attempting through 1.2658 and clear break here to open 1.2625/1.2586, with extension to 1.2522 not ruled out. To improve immediate bear tone and delay weakness, regain of 1.2762/75, is required.

    Res: 1.2762, 1.2775, 1.2840, 1.2875
    Sup: 1.2658, 1.2625, 1.2586, 1.2522

    [​IMG]



    GBP/USD

    Recovery off 1.5295, 07 Sep low, cleared 1.5490, an hourly trendline resistance, drawn off 1.5596, extending gains to 1.5532 yesterday, ahead of reversal. Fresh weakness is now underway, looking for possible retest of 1.5295, while 1.5532 caps. However, underlying bear trend remains intact as long as 1.5575/1.5617 zone holds.


    Res: 1.5476, 1.5492, 1.5532, 1.5543
    Sup: 1.5357, 1.5344, 1.5336, 1.5325

    [​IMG]


    USD/JPY

    Yesterday’s break below the recent 83.66/51 floor, reached 83.33, before bouncing to mark a likely lower top at 84.05. Potential break below 83.33 will open next target at 82.98. Upside, break above 84.05 would delay, risking 84.28/47 first.

    Res: 84.05, 84.28, 84.47, 84.82
    Sup: 83.51, 83.33, 82.98, 82.30

    [​IMG]



    USD/CHF

    Attempts to break higher, following bounce off 1.0059, yesterday’s low, with market currently breaking through 1.0138/45, previous highs. Sustained break here is needed to resume recovery and expose 1.0237/61, 03 Sep/31 Aug highs. Otherwise, fresh weakness and retest of 1.0059 would be the likely scenario.

    Res: 1.0186, 1.0237, 1.0261, 1.0275
    Sup: 1.0099, 1.0059, 1.0027, 1.0000

    [​IMG]
     
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