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Windsor Brokers - Short Term Technical Analysis for Majors (09:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 13, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Succession of lower highs from 1.3426 keeps the downside favored, with focus on 1.3163/43, 09 Dec low / 61.8% retracement of 1.2968/1.3426 upleg, break of which would re-focus 1.30 zone. Upside remains capped by 1.3322/40, 09 Dec high / trendline off 1.3426.

    Res: 1.3235, 1.3281, 1.3322, 1.3340
    Sup: 1.3163, 1.3143, 1.3105, 1.3060

    [​IMG]


    GBP/USD
    The latest rally from 1.5710 higher low has breached 1.5840 barrier, extending gains to 1.5861, ahead of reversal. This is seen corrective while 1.5710/1.5667 area holds and fresh strength through 1.5840/61 to focus 1.5889, 50% retracement of 1.6297/1.5483 decline next.

    Res: 1.5818, 1.5840, 1.5861, 1.5889
    Sup: 1.5710, 1.5667, 1.5655, 1.5610

    [​IMG]



    USD/JPY

    Pullback from 84.29 found support at 83.44, where the fresh strength emerged. Market is attempting at key near-term resistance zone at 84.29/39. Break here would trigger an extension of a broader uptrend from 80.24 and expose 85.40, 24 Sep high next. Failure to break higher may risk the further development of double top pattern.

    Res: 84.39, 84.60, 85.20, 85.40
    Sup: 83.83, 83.44, 83.31, 83.08

    [​IMG]



    USD/CHF
    Recovery attempt off 0.9724 has run out of steam at 0.9913, with fresh weakness under way. For now, the downside remains limited by 0.9793, while possible break here would risk fresh losses towards 0.9754/24. Upside regain of 0.9913 required to continue recovery and turn focus to 0.9948.


    Res: 0.9838, 0.9893, 0.9913, 0.9948
    Sup: 0.9793, 0.9754, 0.9724, 0.9700

    [​IMG]
     
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