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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Extends reversal from 1.3500 after leaving a lower top at 1.3377, to hit fresh low at 1.3208. The key near-term support/pivot lies at 1.3163 and while above here, possibility of retesting 1.3500 remains in play. Otherwise, break lower would risk fresh weakness and expose 1.3059 initially.

    Res: 1.3315, 1.3377, 1.3440, 1.3500
    Sup: 1.3208, 1.3163, 1.3100, 1.3059

    [​IMG]


    GBP/USD
    Reversal from 1.5910 accelerated losses after breaking through 1.5667/54 support zone, clearing 6-month trendline support, to reach 1.5529 low so far. Corrective attempts are seen limited by 1.5654/67 zone, now reverted to resistance, with fresh weakness expected to attack key short-term support at 1.5483. Only break above 1.5667 to improve the outlook.

    Res: 1.5654, 1.5667, 1.5710, 1.5767
    Sup: 1.5529, 1.5510, 1.5483, 1.5405

    [​IMG]



    USD/JPY
    Fresh strength off 82.83 higher low has seen an attempt through the recent consolidation ceiling at 84.29/39, with 84.49 reached, ahead of correction. Immediate target lies at 84.60, 76.4% retracement of 85.92/80.24 decline, break of which will expose 85.40, 24 Sep high. Downside, 83.61 is now key support and only break here to delay immediate bulls.

    Res: 84.32, 84.49, 84.60, 84.82
    Sup: 83.76, 83.61, 83.16, 82.83

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    USD/CHF
    Extended reversal from 1.0064, 01 Dec high, through 0.9913, 08 Dec lower high, accelerating losses through 2-month trendline support, to reach 0.9560 so far, just above 0.9546, key short-term support. Correction higher is under way, with 0.9735/77 zone expected to cap.

    Res: 0.9724, 0.9735, 0.9755, 0.9777
    Sup: 0.9572, 0.9560, 0.9546, 0.9461

    [​IMG]
     
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