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Windsor Brokers - Short Term Technical Analysis for Majors (08:15 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 4, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Correction off 1.3114 stalled at 1.3360 yesterday, ahead of sharp reversal. This confirms the underlying bear structure. Break through1.3141 will open 1.3114 where an eventual loss will expose 1.3090 first. Near-term, 1.2885 is seen next. Upside, 1.3223/52 expected to cap.

    Res: 1.3211, 1.3223, 1.3252, 1.3342
    Sup: 1.3141, 1.3114, 1.3090, 1.2965

    [​IMG]


    GBP/USD

    Recent failure to sustain gains off daily double bottom at 1.4780/1.4797 had been triggered warns of a relapse back towards 1.5141 initially. Hourly structure remains negative with a bear flag now triggered, and potential break through 1.5141/24 to re-focus 1.4797/80. Only regain of 1.5389 to improve the outlook.

    Res: 1.5334, 1.5364, 1.5389, 1.5421
    Sup: 1.5160, 1.5141, 1.5124, 1.5075

    [​IMG]


    USD/JPY

    Maintains positive structure, with today’s clearance of 94.77 resistance, market now focusing 95.07, 61.8% of 101.43/84.80 descend. Break here opens 95.30/50 next, with near-term target standing at 97.00 area. 94.42 offers initial support, ahead of 93.83.

    Res: 94.97, 95.07, 95.30, 95.50
    Sup: 94.42, 93.83, 93.71, 93.37

    [​IMG]


    USD/CHF

    Maintains bullish tone, with yesterday’s lower rejection at 1.0728 now supporting fresh advance to retest 1.0922, 28 Apr peak. Break here will open 1.0985 first, ahead of possible extension to 1.1021. Immediate support now stands at 1.0808, ahead of key 1.0728 level.


    Res: 1.0922, 1.0940, 1.0985, 1.1021
    Sup: 1.0808, 1.0745, 1.0728, 1.0698

    [​IMG]
     
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