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Windsor Brokers - Short Term Technical Analysis for Majors (10:25 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 11, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Break below 1.3696 support suggests fresh weakness, as corrective attempt off yesterday’s one month low of 1.3670 remain so far capped by 1.3820. Below 1.3670, immediate target lies at 1.3636, with possible extension to 1.3362, 38.2%, seen near-term. However, further correction is not ruled out, as hourly studies approach oversold zone, though lower top under 1.3972 is likely.

    Res: 1.3823, 1.3854, 1.3876, 1.3914
    Sup: 1.3714, 1.3670, 1.3636, 1.3620

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    GBP/USD
    Reversal from 1.6180 found temporary support at 1.5950 yesterday, followed by a bounce. This is seen corrective, while 1.6180 caps, and only break here to resume the uptrend. Rejection below the latter would signal a lower top and fresh weakness.

    Res: 1.6183, 1.6211, 1.6234, 1.6259
    Sup: 1.6067, 1.6015, 1.5951, 1.5898

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    USD/JPY
    Yesterday’s break above rising channel off 80.24 suggests further gains, with 82.78 seen so far. Break here would open 83.07 and then 83.73, 50%/61.8% of 85.89/80.24 downleg.
    82.00/81.95 offer initial support, while break of 81.50 would delay.

    Res: 82.78, 83.07, 83.83, 83.98
    Sup: 81.95, 81.50, 81.25, 81.05


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    USD/CHF
    Continues to further retrace the recent 0.9969/0.9546 downleg, as 0.9585 higher low supports the advance, with 0.9765, 50% retracement seen so far. Gains above 0.9765 to expose 0.9806, 61.8% next, where a lower top is expected to form, ahead of fresh weakness. Clearance of 0.9806/20, however, would focus 0.9969.


    Res: 0.9765, 0.9806, 0.9820, 0.9903
    Sup: 0.9668, 0.9626, 0.9604, 0.9585

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