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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 12, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Corrects the recent losses that dipped through 1.3907, 200 day MA and 1.3860, 02 Feb high / 15 Mar low, to find temporary support at 1.3836. Bounce on oversold hourly conditions regained 1.3968/1.4000 barriers so far, with further extension towards 1.4100, previous low and 1.4165, 20 day MA, seen ahead of reversal, as broader structure remains negative. Loss of 1.3836/00 to open way for test of next target at 1.3750, 11 Mar low.

    Res: 1.4023, 1.4073, 1.4100, 1.4165
    Sup: 1.3902, 1.3836, 1.3800, 1.3750

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    GBP/USD

    Extends bear-trend from 1.6745, 28 Apr high, after losing key near-term supports at 1.5910 / 1.5880, breaking below 1.5820/00, to hit 1.5780, just ahead of bear channel support at 1.5767 and strong support at 1.5750, 25 Jan low. Corrective/consolidative phase is under way, before fresh leg lower, with initial barriers at 1.5910/30, while daily 200 day MA, currently at 1.6045, limits the upside.

    Res: 1.5871, 1.5910, 1.5930, 1.5972
    Sup: 1.5780, 1.5750, 1.5717, 1.5700

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    USD/JPY

    Loss of 80.25/00 support zone has accelerated losses through key short-term supports at 79.68/25, to post fresh 4-month low at 79.16, just above our target at 79.06, 18 Mar low. This signals an end of two-month consolidative phase and extension of broader weakness from 85.50, 06 Apr high. . Corrective attempts on oversold near-term conditions should be capped at 80.50, to maintain bear-tone.

    Res: 80.00, 80.25, 80.50, 80.82
    Sup: 79.52, 79.16, 79.06, 78.50

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    USD/CHF

    Recovery attempt from yesterday’s low at 0.8328 was short-lived, as gains were capped by 20 day MA, at 0.8396. Subsequent weakness reached fresh low at 0.8311, confirming negative structure and looking for test of 0.8300/0.8273 lows, below which to open fresh phase lower and post new record lows. On the upside, 0.8400 offers strong resistance.

    Res: 0.8365, 0.8400, 0.8420, 0.8430
    Sup: 0.8311, 0.8305, 0.8295, 0.8273

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