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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 13, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Remains in a corrective mode off 1.3836, yesterday’s low, regaining 1.4100 zone so far. Near-term studies are supportive for further retracement of 1.4576/1.3836 decline, with lower top anticipated at 1.4200 zone, also Fib 50%, before fresh leg lower. Wider picture, however, remains bearish, with 1.3750, 11 Mar low in focus.

    Res: 1.4109, 1.4165, 1.4200, 1.4230
    Sup: 1.3950, 1.3900, 1.3836, 1.3800

    [​IMG]


    GBP/USD

    Corrective attempt off yesterday’s low at 1.5780 remains congested at 1.5950 zone, with spike to 1.5988 high seen so far. However, near-term outlook is regaining momentum and break above 20 day MA favors further recovery. Key near-term barrier at 1.6045, 200 day MA, is expected to cap. Broader bear-trend keeps focus on 1.5750, 25 Jan low.

    Res: 1.5988, 1.6000, 1.6045, 1.6077
    Sup: 1.5931, 1.5903, 1.5880, 1.5824

    [​IMG]


    USD/JPY

    Has accelerated losses after breaking below key supports at 79.68/55 and 79.00, to spike to fresh 4-month low at 78.45. This confirms an extension of the broader downtrend from 85.50 and open way for possible retest of 76.32, 16 Mar, pre-intervention low. Corrective attempts are seen capped at 80.00 for now.

    Res: 79.55, 79.68, 80.00, 80.25
    Sup: 79.11, 78.45, 78.00, 77.50

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    USD/CHF

    Recovery attempt from 0.8328 was short-lived, as gains were capped just under 0.8400 barrier and subsequent weakness extended losses to fully retrace the recent 0.8273/0.8524 corrective phase and post fresh record lows. This brings bears fully in play for fresh leg lower, with 0.8200/0.8160 seen next. On the upside, regain of 0.8328 is needed to ease immediate bear pressure.

    Res: 0.8300, 0.8328, 0.8365, 0.8400
    Sup: 0.8250, 0.8200, 0.8160, 0.8150

    [​IMG]
     
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