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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 16, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Maintains weak tone from 1.3691/1.3677 area, with 1.3520 low reached yesterday, ahead of a bounce that left a lower ceiling at 1.3583. The latest break below 1.3520 and 1.3496 looks for further weakness to 1.3445, possibly 1.3340 on a break. Near- term, extension to 1.3340 is likely, as medium-term structure remains negative.

    Res: 1.3595, 1.3650, 1.3677, 1.3691
    Sup: 1.3496, 1.3459, 1.3445, 1.3410

    [​IMG]



    GBP/USD

    Three legged consolidation off the recent high at 1.5523 may be completed, with scope now for a swing higher to complete the recovery off 1.4780, annual low. Only loss of 1.5335/15 to weaken the structure and allow stronger correction..

    Res: 1.5472, 1.5484, 1.5500, 1.5520
    Sup: 1.5365, 1.5335, 1.5315, 1.5265

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    USD/JPY

    Testing 92.56, 16 Apr low, after an upside failure to breach 93.79. Structure remains corrective off 94.78, 05 Apr high. Strong support stands at 92.26/11 and this should buoy a fresh push higher. Break above 93.17 firms for 93.78.

    Res: 93.17, 93.70, 93.78, 94.25
    Sup: 92.52, 92.26, 92.11, 92.75

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    USD/CHF

    Rallies higher, after decline from 1.0784, 08 Apr high, found base at 1.0500 zone. Yesterday’s higher low at 1.0555 now supports, with fresh break through 1.0615, now looking for recovery extension to 1.0655/86.

    Res: 1.0615, 1.0655, 1.0686, 1.0713
    Sup: 1.0555, 1.0500, 1.0487, 1.0433

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