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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Accelerated gains after yesterday’s break above rising channel top, to hit 1.2953 high, ahead of shallow correction. Focus is now at 1.3000, psychological level, above which would target key 1.3073, 61.8% retracement of 1.3816/1.1875 downleg. Below, 1.2868/35 offers initial support, while loss of 1.2800 would delay immediate bulls.

    Res: 1.2953, 1.3000, 1.3073, 1.3095
    Sup: 1.2868, 1.2835, 1.2800, 1.2776

    [​IMG]



    GBP/USD

    Extended strength from 1.4947/63, to break above 1.5400 level and approach key 1.5500 zone, with 1.5470 seen so far. Clearance of 1.5500/25 would open way for a broader strength, though, risk of a lower top and return to weakness still exists.

    Res: 1.5470, 1.5498, 1.5506, 1.5525
    Sup: 1.5347, 1.5298, 1.5250, 1.5234

    [​IMG]


    USD/JPY

    Extended decline from 89.14 lower top, to briefly test key 86.96 low today, ahead of bounce. Correction is so far seen capped by 87.58/88.00, with potential break below 86.96 to open 86.58/15 next. Above 88.00 to allow a stronger recovery.

    Res: 87.58, 88.00, 88.26, 88.62
    Sup: 86.96, 86.58, 86.15, 85.85

    [​IMG]


    USD/CHF

    Extended the long-term decline from 1.1730, 01 Jun annual low, to breach the 1.0433, 01 Apr reaction low. Bears seek 1.0366, 25 Jan low, ahead of 1.0317, 20 Jan low. Regain of 1.0545 is needed to neutralize short-term bears.

    Res: 1.0460, 1.0503, 1.0545, 1.0560
    Sup: 1.0399, 1.0366, 1.0317, 1.0295

    [​IMG]
     
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