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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 5, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Yesterday’s failure to sustain gains above key near-term barrier at 1.3423, with 1.3431 reached, has triggered sharp sell-off through 1.3322 support, to nearly fully retrace the latest 1.3249/1.3431 upleg. However, while 1.3217, 61.8% of 1.3082/1.3431 upleg holds, near-term bulls remain in play for renewed attempt at 1.3431, break of which will open 1.3497, key short-term resistance. Loss of 1.3217 would further weaken the structure.

    Res: 1.3328, 1.3394, 1.3431, 1.3497
    Sup: 1.3249, 1.3217, 1.3177, 1.3105

    [​IMG]


    GBP/USD
    Upside so far remains capped by 1.5659 after yesterday’s renewed attempt higher stalled at1.5644, ahead of pullback. Support was found at 1.5535, with fresh strength under way. Clearance of 1.5644/59 is required to continue recovery and focus 1.5691, 61.8% of 1.5910/1.5343 decline, while failure there risks reversal to 1.5451/31.

    Res: 1.5619, 1.5644, 1.5659, 1.5691
    Sup: 1.5576, 1.5551, 1.5535, 1.5502

    [​IMG]



    USD/JPY
    Remains in a near-term corrective/consolidative phase after rally from 80.92 reached 82.27 high. The range bottom at 81.67 offers key support and while the latter intact, scope exists for fresh push higher and through 82.27 to open 82.52/94 next. Loss of 81.67, however, risks return to 80.92.

    Res: 82.19, 82.27, 82.52, 82.94
    Sup: 81.87, 81.67, 81.49, 81.21

    [​IMG]


    USD/CHF
    Extended rally from 0.9301/06 lows to reach 0.9515, ahead of minor correction. Fresh gains are approaching 0.9531 barrier, break of which will open way towards 0.9591, 61.8% retracement of 1.0064/0.9301 decline, where a lower high is anticipated, ahead of extension of the broader downtrend.

    Res: 0.9531, 0.9563, 0.9591, 0.9644
    Sup: 0.9467, 0.9429, 0.9408, 0.9381

    [​IMG]
     
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