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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 26, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains positive tone off 1.2731, 21 July higher low, as the dip from 1.2965, last Friday’s low, found support at 1.2792, just above trendline drawn off 1.2522. Break above 1.2965 is now required to confirm the uptrend and open 1.3026 next. Above here to focus 1.3125, 38.2% of 1.5144/1.1875. Only loss of 1.3731 higher platform to weaken the structure and turn focus towards 1.2522.

    Res: 1.2965, 1.2989, 1.3026, 1.3073
    Sup: 1.2859, 1.2834, 1.2807, 1.2776

    [​IMG]


    GBP/USD

    Continues to trend higher, following bounce off 1.5123, last week’s higher low and today’s lift above 1.5470, 15 July previous high. Market now focuses 1.5526, 15 Apr high and 1.5575, 23 Feb high, while 1.5345, last Friday’s intraday low, underpins the advance.

    Res: 1.5526, 1.5575, 1.5635, 1.5665
    Sup: 1.5375, 1.5345, 1.5335, 1.5297

    [​IMG]


    USD/JPY

    Congestive lows at 86.25/33, posted on 16/22 July, marked a tentative short-term base that has supported recovery through 87.58, 20 July previous high, to reach 87.71, 50% of the 89.14/86.25 decline, so far. A lower top is sought for fresh weakness to retest the 86.33/25 zone, while only sustained break above 88 area would improve the structure.

    Res: 87.71, 87.84, 88.00, 88.26
    Sup: 86.72, 86.58, 86.33, 86.25

    [​IMG]


    USD/CHF

    Is trading within 1.0393/1.0560 range, following recent weakness from 1.1730, 2010 high, posted on 01 June. Slight loss of momentum at upper short-term range now warns of a possible relapse back to 1.0400/1.0393 zone. Regain of 1.0562, however, would firm the tone.

    Res: 1.0562, 1.0583, 1.0617, 1.0645
    Sup: 1.0475, 1.0462, 1.0393, 1.0366

    [​IMG]
     
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