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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 6, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Trades in a corrective consolidative mode after hitting fresh one month high at 1.466 today. Initial support at 1.4600 zone holds dips for now, but 4-hour studies still in overextended territories and further correction into 1.4560/20 zone is not ruled out, before bulls reassert. Key near-term support lies at 1.4450 and only break here to delay immediate bulls. On the upside, clearance of 1.4656 to focus 1.4700/20.

    Res: 1.4656, 1.4685, 1.4700, 1.4720
    Sup: 1.4592, 1.4560, 1.4520, 1.4500

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    GBP/USD

    Corrects rally from 1.6285, last Friday’s low that peaked at 1.6460 overnight, to retrace over 38.2% at 1.6381 so far, after losing 1.6400 handle. 20 day MA on 4-hour chart, currently at 1.6370, offers good support and holding above here keeps near-term positive tone in play for fresh attempt at 1.6459, break of which would open 1.6500 next. On the downside, 1.6300 zone remains key near-term support.

    Res: 1.6441, 1.6460, 1.6494, 1.6514
    Sup: 1.6381, 1.6360, 1.6330, 1.6300

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    USD/JPY

    Maintains negative short-term tone off 82.20, as fresh leg lower from 81.76, 31 May lower top has tested psychological barrier at 80.00. Corrective attempts on oversold near-term studies were initially capped at 80.40 zone, with possible extension to 80.70, previous low and 20 day MA, before reversal. On the downside, clear break of 80.00 opens way for test of 79.55, 05 May low, possibly 79.06 on a break.

    Res: 80.38, 80.50, 80.70, 81.00
    Sup: 79.96, 79.55, 79.06, 78.82

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    USD/CHF

    Trades in a corrective mode after extending losses overnight to post fresh record low at 0.8326. Some action higher may be seen as overextended near-term studiers see scope for correction, however, upside remains capped at 0.8400/50 for now.


    Res: 0.8384, 0.8400, 0.8420, 0.8444
    Sup : 0.8326, 0.8300, 0.8250, 0.8200

    [​IMG]
     
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