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

Discussion in 'Forex Daily News & Outlook' started by WindsorBrokers, Mar 1, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Remains constructive off 1.3450 low, clearing 1.3607/25, trendline/previous high, resistance. Bulls so far reached 1.3681, just ahead of 1.3690, 23 Feb high. Higher low seen at 1.3585 for fresh attempt at 1.3691, break of which to focus 1.3787 next. Below 1.3550 to weaken the tone.

    Res: 1.3681, 1.3690, 1.3737, 1.3787
    Sup: 1.3550, 1.3530, 1.3465, 1.3445


    GBP/USD

    Has fallen below 1.5151, Friday’s low, to extend losses to 1.5095. Correction higher seen for now capped by 1.5200/50 area, ahead of fresh weakness. Loss of 1.5095 sees 1.505, 14 May 2009 low next. Regain of 1.5250/65, however, allows stronger correction.

    Res: 1.5170, 1.5202, 1.5250, 1.5265
    Sup: 1.5095, 1.5057, 1.5030, 1.4968


    USD/JPY

    Bounces of 88.73, Friday’s low, in attempt to create double bottom. This, however, needs to see minimum 89.70/90 to confirm, otherwise, lower top is seen ahead of fresh weakness. Below 88.73 to focus 88.54, 2010 low.


    Res: 89.55, 89.72, 89.90, 90.35
    Sup: 88.73, 88.54, 88.25, 87.90


    USD/CHF

    Broke under 1.0737/15 support area, extending losses to 1.0693 late Friday. This now confirms lower top at 1.0880 and opens way for fresh push through 1.0693 towards 1.0646, possibly 1.0625/07 on a break. Regain of 1.0800, however, delays, though only clearance of 1.0880 turns positive

    Res: 1.0800, 1.0825, 1.0880, 1.0897
    Sup: 1.0710, 1.0693, 1.0680, 1.0646
     
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