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Windsor Brokers - Short Term Technical Analysis for Majors (14:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 12, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extended losses trough1.2609 support today, following an upside rejection of the rally from 1.2515 at 1.3093 on 10 May. Next target stands at 1.2515, and break here to expose key longer-term supports at 1.2455/1.2331. Upside, 1.2760/1.2807 offer immediate resistance, while only clearance of 1.3093/1.3113 firms.

    Res: 1.2738, 1.2760, 1.2807, 1.2815
    Sup: 1.2602, 1.2569, 1.2515, 1.2455

    [​IMG]



    GBP/USD

    The latest gains off 1.4719, yesterday’s higher low, reached 1.5044, just below 1.5052, previous high, ahead of sharp reversal. If 1.5044 confirmed as lower top, then, likely scenario will be retest of 1.4475 and possible further weakness towards 1.3500 zone. Break above 1.5044/52, however, would resume the near-term uptrend from 1.4475.

    Res: 1.5044, 1.5052, 1.5081, 1.5107
    Sup: 1.4858, 1.4843, 1.4786, 1.4759

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    USD/JPY

    Recovery off 87.96/90.83 has stalled at 93.52, ahead of reversal. Market reached 92.18 yesterday, with further weakening to open way for test of 91.64 and 90.83, ahead of possible extension to 87.96. Only regain of 93.52 improves and opens 93.98.

    Res: 93.37, 93.52, 93.98, 94.32
    Sup: 92.18, 91.64, 90.83, 90.00

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    USD/CHF

    Extended gains to 1.1244 on 06 May, ahead of corrective pullback to 1.0923 on 10 May. Fresh advance from here now looks for retest of 1.1244/62 to target 1.1484, 76% retracement of 1.1966/0.9916 decline. Downside, 1.1034 offers immediate support.

    Res: 1.1155, 1.1180, 1.1216, 1.1244
    Sup: 1.1034, 1.1014, 1.0954, 1.0923

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