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Windsor Brokers - Short Term Technical Analysis for Majors (08:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 17, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Recovery from 1.1875 stalled at 1.2353 yesterday, ahead of reversal. Loss of 1.2254 trendline support, now risks stronger pullback, to challenge key 1.2162 support. Upside, regain of 1.2353 is needed to resume recovery and expose 1.2454, 28 May high, next.

    Res: 1.2336, 1.2353, 1.2366, 1.2380
    Sup: 1.2240, 1.2214, 1.2162, 1.2110

    [​IMG]


    GBP/USD

    Failed to sustain gains towards 1.4874, 50% retracement of 1.5523/1.4230 decline yesterday, to reach 1.4854, ahead of strong reversal. Today’s break below 1.4680 trendline support, increases risk of revisiting key 1.4501 level, break of which will turn the sentiment bearish. Only regain of 1.4854 would bring near-term bulls back to play.

    Res: 1.4749, 1.4835, 1.4854, 1.4874
    Sup: 1.4644, 1.4607, 1.4571, 1.4501

    [​IMG]


    USD/JPY

    Remains locked within a tightening range following the 88.95 to 92.94 rally. A triangle has developed over the last six weeks, warning of an imminent breakout. Downside, 91.06/90.97 area offers immediate support, and while above here, bulls remain favored. Otherwise, break below triangle lower boundary risks fresh weakness to 90.83/53 initially.

    Res: 91.81, 91.95, 92.10, 92.20
    Sup: 91.06, 90.97, 90.83, 90.53

    [​IMG]


    USD/CHF

    Continues to trend lower off 1.1730 yearly low, with today’s break out of the channel and loss of key 1.1266/35 support, extending losses towards 1.1150, 14 May low, next. Upside, 1.1340/48 offers immediate cap.

    Res: 1.1290, 1.1340, 1.1348, 1.1396
    Sup: 1.1150, 1.1117, 1.1075, 1.1060

    [​IMG]
     
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