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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 23, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends fresh weakness from 1.4344, last Friday’s recovery high, losing 1.4046/20 supports to probe levels under 1.4000. Corrective bounce on oversold hourly conditions was so far capped by 14 day MA at 1.4040, with further correction seen towards 1.4110/50, as hourly studies started gaining momentum. However, near-term outlook remains negative, favoring further slide through 1.4000 and 1.3968, today’s low, to target 1.3900/1.3860/50.

    Res: 1.4040, 1.4075, 1.4093, 1.4110
    Sup: 1.4000, 1.3968, 1.3900, 1.3860

    [​IMG]



    GBP/USD

    Dipped from 1.6300, last Friday’s high and near-term range ceiling, breaking through 1.6166/30 supports, to retest 1.6100, range floor. Losses have so far been contained here, but negative near-term studies keep break below 1.6100 favored and below here to target 1.5970 and strong support at 1.5935. Oversold hourly conditions, however, suggest that corrective bounce may precede fresh leg lower. Immediate resistances lie at 1.6130/50, while only regain of 1.62 zone would ease bear pressure.

    Res: 1.6130, 1.6150, 1.6200, 1.6215
    Sup: 1.6100, 1.6090, 1.6030, 1.6000

    [​IMG]


    USD/JPY

    Keeps bulls from 79.55, 05 May low, in play after pullback from 82.22, fresh high posted on 19 May found support at 81.31, 12 may previous high. Fresh attempt high needs to clear 82.00/22 to resume gains towards 82.80/83.09 next. Downside remains supported at 81.31 and 81.15, main short-term trendline support.

    Res: 81.89, 82.00, 82.20, 82.80
    Sup: 81.65, 81.31, 81.15, 80.93

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    USD/CHF

    Fresh strength from 0.8755/45, today/last Friday’s lows, attempts through 0.8840, trendline drawn off 0.8944, 13 May fresh 5-week high, to focus 0.8975, break of which is required to confirm higher low and open way for retest of key near-term barrier at 0.8944. Hourly 20 day MA at 0.8800 and trendline support at 0.8765, underpin the advance.

    Res: 0.8875, 0.8900, 0.8944, 0.9007
    Sup : 0.8800, 0.8765, 0.8706, 0.8675

    [​IMG]
     
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