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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 8, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Came under pressure after false break above the descending trendline from 1.4280 and upside rejection below 1.3426 high at 1.3399. Loss of 1.3245, key near-term support has seen fresh weakness, retracing over 50% of 1.2968/1.3426 at 1.3191. Immediate risk is for further decline towards 1.3143, 61.8% retracement. Corrective bounces are seen limited by 1.3275/80 and only clear break here would revive bulls.

    Res: 1.3280, 1.3315, 1.3338, 1.3399
    Sup: 1.3191, 1.3143, 1.3112, 1.3087

    [​IMG]


    GBP/USD
    Failure to sustain gains above 1.5787, previous high, has seen fresh weakness from 1.5821 to reach just above key near-term support at 1.5654. Likely scenario would be retest of 1.5654, with break here to open further reversal and expose 1.5600 zone, possibly 1.5536/10, trendline support/02 Dec higher low. Only regain of 1.5821 to sideline near-term bears and resume uptrend from 1.5483.

    Res: 1.5764, 1.5787, 1.5821, 1.5838
    Sup: 1.5667, 1.5654, 1.5610, 1.5580

    [​IMG]



    USD/JPY
    Dipped to 82.33, 50% of 80.24/84.39, ahead of strong rebound. Breach of key resistances at 83.47/95 returned focus back to 84.39 previous high, with 84.05 seen so far. Potential break above 84.39 to expose 85.38 next, while corrective pullback should be contained by 82.72/33 to keep short-term bulls in play.

    Res: 84.39, 84.60, 85.20, 85.38
    Sup: 83.38, 82.98, 82.72, 82.33

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    USD/CHF
    Reversal from 1.0064 has found support at 0.9724. Strength from here initially reached 0.9872, followed by dip to 0.9754, where a higher low was left. Break through 0.9872 now focuses 0.9948, break of which would open way for 1.0064 retest, with 0.9913 seen so far. Only loss of 0.9754 weakens the structure.

    Res: 0.9913, 0.9948, 1.0020, 1.0055
    Sup: 0.9815, 0.9754, 0.9724, 0.9700

    [​IMG]
     
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