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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 26, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Resumes short-term uptrend from 1.3836, 12 July low, after consolidative phase under 1.4437, last Friday’s high that found support above 1.4300 handle. Fresh rally through 1.4437/40, previous high / main trendline resistance, with break through 1.4500 barrier, so far touching 1.4521,ahead of test of important resistance at 1.4576, 04 July high. Break above the latter would signal an end of medium-term corrective phase off 1.4938. Corrective pullback faces initial support at 1.4440 zone, previous high / 20 day MA, while only loss of 1.4323, yesterday’s higher platform, would delay in favor of stronger reversal.

    Res: 1.4521, 1.4552, 1.4576, 1.4600
    Sup: 1.4440, 1.4416, 1.4400, 1.4356

    [​IMG]


    GBP/USD

    Maintains short-term bull-trend after short consolidation phase off 1.6338, 22 July high was contained at 1.6265 and fresh strength through 1.6338 and 1.6400 barriers, extended to 1.6419 so far. On the downside, previous low / 20 day MA at 1.6340, offers immediate support, as correction on overbought hourly conditions is underway.
    Loss of 1.6260/76, yesterday’s higher platform / main trendline support, however, would delay bulls and open way for stronger reversal.

    Res: 1.6419, 1.6440, 1.6471, 1.6500
    Sup: 1.6340, 1.6328, 1.6300, 1.6276

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    USD/JPY

    Extends short-term bears, breaking below 78.00 support to post fresh low at 77.88. Subsequent strong bounce to 78.67 was short-lived as the pair returned to weakness, currently trading around 78.00 handle. Immediate focus is at 77.88, overnight’s low, with break here, to open way towards 76.32, 16 Mar record low. Corrective attempts are seen limited at 78.70/79.00 zone, with only break above 79.60 to improve short-term outlook.

    Res: 78.20, 78.41, 78.67, 79.00
    Sup: 77.88, 77.50, 76.94, 76.32

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    USD/CHF

    Dipped below 0.8000 mark, to post fresh all-time low at 0.7996, ahead of corrective bounce above 0.8000. Previous low at 0.8073 offers initial resistance, ahead of 0.8135/50, 21 July low / 25 July high, where a lower top is anticipated, to maintain bear structure. On the upside, only regain of 0.8276 would ease immediate bear pressure.

    Res: 0.8076, 0.8100, 0.8135, 0.8167
    Sup: 0.7996, 0.7950, 0.7900, 0.7850

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