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Windsor Brokers - Short Term Technical Analysis for Majors (13:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 5, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Continues to trend lower, following reversal off key lower top at 1.3360, and break below pivotal 1.3114 low. 1.2885/40 targets have been cleared, exposing trendline support at 1.2680 next. Hourly studies are overstretched and correction may precede fresh weakness.


    Res: 1.2945, 1.2996, 1.3047, 1.3113
    Sup: 1.2800, 1.2755, 1.2730, 1.2680

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    GBP/USD

    Maintains negative tone after break of trendline drawn off 1.4797 higher low, extending losses through 1.5089, yesterday low, to reach 1.5066, just ahead of 1.5042 target. Break here to favor further weakness and open way towards 1.4797/80. Only regain of 1.5389 improves.

    Res: 1.5172, 1.5186, 1.5210, 1.5265
    Sup: 1.5042, 1.5004, 1.4975, 1.4929

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    USD/JPY

    Remains bullish after break through long-term falling trendline drawn off 123.95, projecting further gains. Consolidation under 94.97 is forming a likely continuation for a break above 95.07, 61.8% retracement of 101.43/84.80. This opens 95.30/50 first. 94.30 offer initial support.

    Res: 94.97, 95.07, 95.30, 95.50
    Sup: 94.30, 93.83, 93.71, 93.37

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    USD/CHF

    Ascend from 1.0728 higher low has breached 1.1072 resistance, rallying sharply to reach 1.1185, 61.8% retracement of the 1.1966/0.9916 decline. Next target is seen at 1.1266. Hourly studies remain overstretched.

    Res: 1.1072, 1.1107, 1.1130, 1.1165
    Sup: 1.1000, 1.0976, 1.0923, 1.0887

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