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Windsor Brokers - Short Term Technical Analysis for Majors (10:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 4, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Remains positive off 1.3433, yearly low, with yesterday’s break above 1.3681/90 upper range limit, extending gains to 1.3735. Focus is now on 1.3790 and 1.3838 on a break. Downside, 1.3590 expected to contain dips, and possible break there to expose 1.3433 instead.

    Res: 1.3711, 1.3735, 1.3790, 1.3838
    Sup: 1.3625, 1.3591, 1.3581, 1.3513

    [​IMG]


    GBP/USD

    Correction off 1.4780 may be reaching completion, if 1.5130, yesterday’s high, caps. Otherwise, stronger correction higher would be likely scenario, to focus 1.5315/45. Failure under 1.5130, however, would signal resume of the broader weakness.

    Res: 1.5085, 1.5108, 1.5130, 1.5180
    Sup: 1.5013, 1.5000, 1.4975, 1.4960

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    USD/JPY

    Yesterday’s break under 88.55, key support, has seen 88.13 so far and opening prospect for further weakness towards 87.36. Current correction seen capped by 88.62, to keep immediate bears in play, with potential break there to delay and allow for stronger correction.

    Res: 88.70, 89.04, 89.25, 89.48
    Sup: 88.30, 88.13, 87.73, 87.36

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    USD/CHF

    Dipped below 1.0695 support yesterday, testing 1.0645, 17 Feb low. Correction higher is now under way, though, while 1.0764 caps, the bias remains lower. Above there, however shifts the focus back onto 1.0889/99.

    Res: 1.0731, 1.0764, 1.0801, 1.0828
    Sup: 1.0667, 1.0645, 1.0630, 1.0582

    [​IMG]
     
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