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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 3, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    Reversal from 1.4536, 27 July high, has found temporary ground at 1.4142, today’s low, ahead of strong bounce. Clearance of the initial resistance at 1.4280, extended gains through 1.4300 barrier, to reach 1.4343, also Fib 50% of 1.4536/1.4142 downleg. Near- tone is regaining momentum and this averts immediate downside risk in favor of further gains. Daily 90 day MA offers initial barrier at 1.4366, ahead of 1.4400 and key near-term resistance at 1.4452. Corrective pullback on overbought hourly studies should be contained by 20 day MA, currently at 1.4263, to maintain immediate bull tone.

    Res: 1.4343, 1.4403, 1.4452, 1.4500
    Sup: 1.4303, 1.4285, 1.4253, 1.4200



    Improve the near-term tone after bounce from yesterday’s low at 1.6223 broke through 1.6328 barrier, also clearing 4-hour 20 day MA at 1.6338, to turn focus higher. Regain of 1.6400 mark, also retracing over 61.8% of 1.6474/1.6223 decline, would signal an end of corrective phase and possibly open 1.6474 high for retest, with break here to signal resumption of the broader uptrend from 1.5779. Corrective reversal on overbought hourly studies, needs to be contained above 1.6300 to maintain near-term positive tone.

    Res: 1.6407, 1.6457, 1.6474, 1.6500
    Sup: 1.6372, 1.6338, 1.6328, 1.6315



    Remains in a near-term corrective mode after extending broader bear trend through previous all-time low at 76.32, posted on 16 Mar, to hit marginally fresh record low at 76.28. Corrective bounce has so far been capped at77.81, just ahead of 78.00, strong barrier, with subsequent pullback attempting below 77.00 support, loss of which would turn the near-term tone negative and re-focus 76.28 low. On the upside, 77.81/78.00 zone caps for now and only break of the latter would ease bear pressure and open way for stronger recovery.

    Res: 77.39, 77.81, 78.03, 78.16
    Sup: 76.95, 76.82, 76.58, 76.28



    Extended the broader downtrend after ending the near-term consolidation at 0.8000 zone, to post fresh historical low at 0.7608 today. Strong bounce from here has so far regained 0.7786, where gains stalled and subsequent pullback erased a good part of today’s gains. Hopes of fresh recovery are now fading and focus turns towards 0.7626/08, today’s lows, with fresh historical low in sight on break of the latter.

    Res: 0.7732, 0.7786, 0.7800, 0.7825
    Sup: 0.7658, 0.7626, 0.7608, 0.7600


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