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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 19, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains near-term positive tone off yesterday’s higher platform at 1.4015, as the latest upleg from higher low at 1.4067 regained 1.4200 handle. While 1.4129, 20 day MA, holds dips, scope exists for fresh push higher and attack at key near-term resistance at 1.4281, 14 July high, break of which would open way for further extension of recovery phase from 1.3836, 12 July low. Reversal under 1.4281, however, would risk lower top and continuation of the broader bear-trend from 1.4938, 04 May peak, with initial focus at 1.4000 zone.

    Res: 1.4200, 1.4216, 1.4247, 1.4281
    Sup: 1.4135, 1.4100, 1.4067, 1.4013

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    GBP/USD

    Remains in a recovery mode after yesterday’s sharp decline found temporary support at 1.6000 zone, just below Fib 50% of 1.5779/1.6192 ascend. Regain of 1.6050, daily 200 day MA, improves the near-term tone, with today’s clearance of 1.6100 barrier and extension to 1.6159 so far, turning focus at 1.6192, key near-term barrier. Corrective dips should be contained by 20 day MA, currently at 1.6080, to maintain immediate positive structure.

    Res: 1.6159, 1.6192, 1.6261, 1.6309
    Sup: 1.6103, 1.6080, 1.6054, 1.6040

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    USD/JPY

    Remains in a narrow range sideways trading around 79.00 mark, as recovery attempt from 78.45, fresh four month low, stalled at 79.59. Near term outlook sees potential for fresh recovery, while 79.00 holds, for attack at 79.59. However, regain of 80.00/25 levels, is required to signal a return to the previous range. Otherwise, below 79.00, immediate target lies at 78.45, with possible extension of the broader downtrend towards 76.32, not ruled out short-term.

    Res: 79.16, 79.27, 79.59, 79.68
    Sup: 78.88, 78.55, 78.45, 78.00

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    USD/CHF

    Near-term outlook shows a return to strength after finding ground just above fresh record low and recent break above 0.8200 barrier. Immediate resistances lie at 0.8273, previous low and 0.8300/25 zone, above which would signal stronger recovery ahead. Wider picture show the key short-term barrier at 0.8520/50 zone, and failure to regain the latter, would risk a lower top and fresh leg lower of a longer-term downtrend.

    Res: 0.8231, 0.8273, 0.8309, 0.8325
    Sup: 0.8185, 0.8150, 0.8112, 0.8077

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