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Windsor Brokers - Short Term Technical Analysis for Majors (13:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 23, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Has surged to 1.4500 zone after pullback from 1.4433 found support at 1.4350, yesterday’s low, and fresh strength cleared bear trendline at 1.4400 and barriers at 1.4433/51, 22 / 19 Aug highs. Gains were capped at 1.4500, with subsequent pullback attempting below 1.4433, now reverted to support. This would weaken near-term positive structure for further decline towards dynamic support of 20 day MA, currently at 1.4400, and trendline support at 1.4382, loss of which to confirm lower top and expose key near-term level at 1.4350.

    Res: 1.4461, 1.4500, 1.4516, 1.4536
    Sup: 1.4400, 1.4382, 1.4365, 1.4350

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    GBP/USD

    Holds near-term positive tone after today’s fresh strength en-route to 1.6617 high, stalled at 1.6571, with subsequent dip testing levels under 1.6500 mark. Holding above 1.6420, key near-term support and recent range floor, broader bullish structure off 1.6110 remains intact and keeps focus on 1.6617, above which to open way for upside extension towards key barrier at 1.6745. On the downside, loss of 1.6420 and break below the current range, would delay bulls in favor of stronger correction towards 1.6363/50, Fib 50% / 17 Aug low.

    Res: 1.6510, 1.6538, 1.6571, 1.6589
    Sup: 1.6469, 1.6446, 1.6434, 1.6420

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    USD/JPY

    Near-term price action has lost momentum again after yesterday’s spike above 77.00 barrier and today’s renewed attempt higher failed, with subsequent weakness testing key support at 76.50. Break here to confirm broader bearish tone and re-expose 76.00/75.63 levels for test. Only regain of 77.00/20 zone would improve the near-term structure.

    Res: 76.83, 76.92, 77.20, 77.84
    Sup: 76.45, 76.30, 76.00, 75.93

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    USD/CHF

    Trades in a narrow range sideways mode after recovery from 0.7067, 09 Aug fresh historical low, reached 0.8000 zone. Range floor at 0.7800 needs to stay intact to maintain short-term positive structure, with regain of 0.8013, previous high, required to signal stronger recovery and expose bear trendline off 0.9770, at 0.8075. Four hour chart 55 day MA, currently at 0.7770, underpins.

    Res: 0.7909, 0.7958, 0.7987, 0.8013
    Sup: 0.7851, 0.7837, 0.7805, 0.7768

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