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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 11, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Rally from 1.2515, 06 May fresh yearly low, stalled at 1.3093 yesterday, ahead of sharp reversal. Market now focuses 1.2609/1.2515, and potential break here to open way for test of key longer-term supports at 1.2455/1.2331. Corrective attempts higher, however, are seen capped by 1.2807/15 zone, and only regain of 1.3093/1.3113 would improve the near-term outlook.

    Res: 1.2807, 1.2815, 1.2881, 1.2947
    Sup: 1.2675, 1.2609, 1.2569, 1.2515

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    GBP/USD

    Current swing lower from yesterday's 1.5052 high is seen preceding a higher low for a fresh swing higher towards 1.5054/81. Downside, sustained break below 1.4475 will warn of an extension back towards 1.3500 medium-term.

    Res: 1.4888, 1.4956, 1.5052, 1.5107
    Sup: 1.4759, 1.4706, 1.4643, 1.4573

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    USD/JPY

    Recovery off 87.96/90.83 has stalled at 93.52 yesterday, ahead of reversal. 92.30 low has been reached so far, with further weakening to open way for test of 91.64 and 90.83, ahead of possible extension to 87.96. Only regain of 93.52 improves and opens 93.98.

    Res: 93.37, 93.52, 93.98, 94.32
    Sup: 92.30, 91.64, 90.83, 90.00

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    USD/CHF

    Extended gains to 1.1244 on 06 May so far, ahead of corrective phase. Higher low is now sought near 1.0925 for a fresh leg higher, and through 1.1244/62 to target 1.1484, 76% retracement of 1.1966/0.9916 decline. Downside, 1.0923/1.0839 zone supports.

    Res: 1.1155, 1.1180, 1.1216, 1.1244
    Sup: 1.1052, 1.1014, 1.0954, 1.0923

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