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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 18, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Deep pullback off 1.3334 (06 Aug high) found support at 1.2734 Mon, just above 1.2732, the key 21 Jul higher low. A tentative reversal was seen yesterday favoring recovery towards 1.2963, guards 1.3034. Below 1.2800 > 1.2732.

    Res: 1.2915, 1.2960, 1.3035, 1.3055
    Sup: 1.2795, 1.2775, 1.2730, 1.2680
    [​IMG]


    GBP/USD
    Today's clear break under trend-line support from 1.4346 coupled with short-term structure warns of a further extension lower, initially towards 1.5441. Back over 1.5645 neutralizes s-term outlook.

    Res: 1.5585, 1.5765, 1.5815, 1.5865
    Sup: 1.5620, 1.5595, 1.5555, 1.5530
    [​IMG]


    USD/JPY
    Recovery attempt off 84.72 stalled at 86.39 Fri before breaking lower from a rising wedge to 85.11. This confirms the underlying bear trend. 85.97 likely caps above for an initial retest on 84.72 where an eventual loss is expected.

    Res: 85.70, 86.00, 86.45, 86.90
    Sup: 85.10, 84.75, 84.00, 83.50
    [​IMG]


    USD/CHF
    Last upswing stalled at 1.0630 last Thursday, under key resist at 1.0646. An hourly head & shoulders top then fueled a drop back towards 1.0332, the lower level of n-t 1.0332-1.0640 consolidation, towards 1.0231. Lower top now sought.

    Res: 1.0465, 1.0510, 1.0555, 1.0590
    Sup: 1.0410, 1.0350, 1.0330, 1.0230
    [​IMG]
     
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