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Windsor Brokers - Short Term Technical Analysis for Majors (09:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 3, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Undergoes a stronger recovery off a new annual low at 1.2110 and yesterday’s higher low at 1.2174. Break above 1.2352 now needed to suggest a swing low in place for a possible test on 1.2451. Downside, break below 1.2175 opens 1.2110 for a retest.

    Res: 1.2325, 1.2352, 1.2381, 1.2451
    Sup: 1.2224, 1.2174, 1.2153, 1.2110

    [​IMG]


    GBP/USD
    Hourly structure suggests potential for a swing higher to challenge yesterday's high at 1.4769. A minor break higher may occur to complete the upswing since 1.4365, 31 May low. Upside failure under 1.4769, however, risks return to 1.4548.

    Res: 1.4769, 1.4780, 1.4797, 1.4816
    Sup: 1.4616, 1.4548, 1.4468, 1.4437

    [​IMG]


    USD/JPY

    Break of trendline resistance at 91.20 fueled rise that is currently attempting through 92.64, 76.4% retracement of 93.63/88.95 decline. This now looks for test of 92.97/93.10, while 92.02 now provides immediate support. Loss of the latter, however would risk deeper correction.

    Res: 92.97, 93.10, 93.65, 94.00
    Sup: 92.02, 91.76, 91.48, 91.19

    [​IMG]



    USD/CHF

    Reverses from 01 June spike high at 1.1730, just below 1.7777, four year falling trendline. A lower top at 1.1601 now risking a test on the key 1.1467/49 region. With potential break here to complete a corrective top. Regain of 1.1601, however, brings 1.1730 back to play.

    Res: 1.1566, 1.1601, 1.1655, 1.1694
    Sup: 1.1495, 1.1467, 1.1449, 1.1417

    [​IMG]
     
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