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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 11, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Failed to sustain yesterday’s break above short-term bear-channel resistance, as gains stalled on approach to 1.429 high at 1.4400. Subsequent reversal dipped briefly below 1.4128, previous low, to find support at 1.4122, ahead of fresh attempt higher. Near-term positive tone remains in play while 1.4127/22, trendline support / today’s low, hold, with regain of 1.4400/29 required to resume near-term recovery from 1.4056 and open way for test of 1.4452. Loss of 1.4128, however, would signal a return to weakness and extension of the short-term downtrend from 1.4536, 27 July peak.

    Res: 1.4278, 1.4309, 1.4400, 1.4429
    Sup: 1.4205, 1.4161, 1.4122, 1.4072

    [​IMG]


    GBP/USD

    Yesterday’s break below 1.6223, 02 Aug low and recent consolidation range floor, signal further correction of the broader uptrend from 1.5779, with 1.6110 low seen so far, marking over Fib 50% retracement of 1.5779/1.6475 ascend. Immediate tone remains negative and favors further extension lower to test 200 day MA at 1.6085 and Fib 61.8% at 1.6045, break of which would confirm short-term top and open way for test of psychological level at 1.6000. On the upside, 1.6223 offers initial resistance, while 20 day MA on 4-hour chart, currently at 1.6275, maintains bear tone.

    Res: 1.6206, 1.6223, 1.6279, 1.6333
    Sup: 1.6154, 1.6110, 1.6085, 1.6045

    [​IMG]


    USD/JPY

    Maintains short-term negative tone after strong post-intervention rally that regained levels above 80.00, stalled and immediate reversal erased gains and returned to 76.30, record low zone. Near-term consolidation above the latter is now under way, however, overall structure remains negative and favors fresh attempt lower, with loss of 76.30 to look for test of 76.00 initially. On the upside, regain of minimum 77.80/78.00 is required to ease immediate bear pressure.

    Res: 77.25, 77.84, 78.00, 78.31
    Sup: 76.43, 76.28, 76.00, 75.50

    [​IMG]



    USD/CHF

    Near-term corrective attempt is under way, following the latest sharp decline that posted fresh historical low at 0.7067 on 09 Aug. The recovery has so far retraced over 38.2% of 0.7800/0.7067 decline, currently attempting through 20 day MA, above which to open Fib 50% at 0.7433, then 0.7480, possibly 0.7517, Fib 61.8%, on a break. Clearance of the latter would signal near-term basing, ahead of stronger recovery, otherwise, lower top and fresh leg lower would be the likely scenario.

    Res: 0.7433, 0.7481, 0.7517, 0.7532
    Sup: 0.7270, 0.7237, 0.7179, 0.7067

    [​IMG]
     
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