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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 26, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Declined through key 1.3433, range floor yesterday, to reach fresh yearly low at 1.3266 overnight. Next downside targets stand at 1.3245, then 1.3190, ahead of possible attempt at 1.3090. Correction now under way, with 1.3386, yesterday’s high, offering initial resistance. Holding below here would keep immediate bears in play, while break higher would allow stronger correction towards 1.3445/62.

    Res: 1.3386, 1.3444, 1.3462, 1.3486
    Sup: 1.3283, 1.3266, 1.3245, 1.3190

    [​IMG]


    GBP/USD

    Upside attempt off yesterday’s 1.4853 double bottom was short lived, and fresh weakness emerged from 1.5003 lower top, to reach 1.4797, just ahead of key 1.4780, annual low. Break here would likely spark significant weakness towards 1.45/1.44 zone in the near future. Upside, only regain of 1.5380 would improve the outlook.

    Res: 1.4871, 1.4930, 1.5003, 1.5018
    Sup: 1.4797, 1.4780, 1.4765, 1.4755

    [​IMG]

    USD/JPY

    Break through 91.74, two years falling trendline and 92.13, previous high, now focuses 93.09/75, 50% retracement of the broader 101.43/84.80 downmove / 08 Jan yearly high. 91.75 offers immediate support.

    Res: 92.94, 93.09, 93.39, 93.75
    Sup: 92.13, 91.75, 91.50, 91.38

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    USD/CHF

    Extended recovery off 1.0505, 17 Mar low, to reach 1.0749 high yesterday. Corrective pullback now under way, with 1.0673/60 zone expected to hold, to keep immediate bulls in play for fresh attempt at 1.0805/10.

    Res: 1.0749, 1.0793, 1.0810, 1.0898
    Sup: 1.0673, 1.0660, 1.0637, 1.0609

    [​IMG]
     
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