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Windsor Brokers - Short Term Technical Analysis for Majors (10:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 19, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Bounce off 1.2732, 16 Aug low stalled at 1.2920 yesterday, just ahead of key 1.2931, 12 Aug high resistance. Reversal has so far reached 1.2770, with range between 1.2732 and 1.2931 seen near term. Break lower will resume the short term downtrend and open 1.2602, 61.8% of 1.2151/1.3332 ascend. Upside, clearance of 1.2931 will return to strength and focus 1.3030/75.

    Res: 1.2861, 1.2888, 1.2920, 1.2931
    Sup: 1.2770, 1.2732, 1.2708, 1.2682

    [​IMG]


    GBP/USD

    Remains in a near term downtrend, as yesterday’s rally off 1.5497 ran out of steam just under key 1.5700 resistance, with relapse followed. Today’s push higher is looking for renewed attempt at 1.5700 zone, that will signal a fresh strength. Below, loss of 1.5497 risks 1.5473/40 instead.

    Res: 1.5689, 1.5700, 1.5714, 1.5735
    Sup: 1.5510, 1.5497, 1.5473, 1.5440

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    USD/JPY

    Firmed off a near term higher base at 85.10/10 to approach 85.95, 16 Aug high, ahead of reversal. The underlying structure remains negative and break below 85.10 will confirm a fresh phase lower through 84.72, 11 Aug year low. Upside, clearance of 85.95 is required to open key resistance at 86.36.

    Res: 85.95, 86.36, 86.65, 86.90
    Sup: 85.34, 85.10, 84.95, 84.72

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    USD/CHF

    Has been attempting to firm off the lower level of the near term 1.0330/1.0638 consolidation band. Clearance of 1.0465 is needed to firm tone further, and open 1.0535 next, otherwise, risk remains for a drop under 1.0385 to retest 1.0350/30 zone.

    Res: 1.0465, 1.0505, 1.0535, 1.0555
    Sup: 1.0385, 1.0350, 1.0330, 1.0295

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