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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 30, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Yesterday’s break above 1.3045, previous high, has cleared 1.3073/93 barriers, to hit 1.3105, en-route to 1.3125 target. Potential break here would look for an extension above 1.3200. Below, 1.2965/51 is a key, and below here to weaken the structure.

    Res: 1.3105, 1.3125, 1.3200, 1.3214
    Sup: 1.3025, 1.3005, 1.2965, 1.2951

    [​IMG]


    GBP/USD

    Has retraced over 50% of 1.7041/1.4230 descend, to reach 1.5661, just ahead of 1.5688, 18 Feb high. Potential break higher to open 1.5816 17 Feb high, near term. Below, 1.5544 offers initial support and below here may trigger deeper correction. 1.5440 still key.

    Res: 1.5661, 1.5688, 1.5708, 1.5735
    Sup: 1.5570, 1.5544, 1.5505, 1.5476

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    USD/JPY

    Upside rejection at 88.10 and break below 86.80 has confirmed a lower top, with the latest break through key near-term support area at 86.33/25, marking a fresh phase lower. First target stands at 85.86, 30 Nov 09 low, ahead of 84.80, key medium-term support. Upside, 86.97 is expected to cap.

    Res: 86.97, 87.17, 87.50, 87.71
    Sup: 86.15, 85.86, 84.80, 84.00

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    USD/CHF

    Upside rejection at 1.0638, 200 days M.A on 27 July, just below 1.0645 resistance has triggered a sharp reversal to fully retrace the recent 1.0393/1.0638 recovery attempt. Today’s loss of 1.0393 support has also breached 1.0366, 25 Jan low, targeting now 1.0317/1.0250. Immediate resistance stands at 1.0430.

    Res: 1.0430, 1.0458, 1.0480, 1.0536
    Sup: 1.0360, 1.0317, 1.0250, 1.0224

    [​IMG]
     
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