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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 14, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extended weakness after today’s break through 1.2515, 06 May yearly low, and 1.2455, Mar 2009 low, to reach 1.2431 thus far. Immediate focus now stands at 1.2331, key Oct 2008 higher low, break of which may signal extension of the long-term weakness. Current bounce higher is seen corrective while 1.2760 caps and only break there to allow stronger recovery.

    Res: 1.2574, 1.2610, 1.2681, 1.2760
    Sup: 1.2431, 1.2422, 1.2388, 1.2331

    [​IMG]


    GBP/USD

    The latest three legged correction to the downside is potentially corrective, with scope for a fresh leg higher towards the 23.6% retrace of the 1.7041/1.4475 fall, at 1.5081. Below 1.4475 weakens and under 1.4443 defers.

    Res: 1.4639, 1.4705, 1.4719, 1.4743
    Sup: 1.4494, 1.4475, 1.4443, 1.4397

    [​IMG]



    USD/JPY

    Pulling back from yesterday’s upper rejection of previous 93.54 high, to risk 92.18, where a swing low may emerge. Losing the latter, however, triggers deeper pullback at 91.64 and key 90.83.

    Res: 93.14, 93.65, 93.98, 94.32
    Sup: 92.18, 91.84, 91.64, 90.83

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    USD/CHF

    Upswing from 1.0923, 10 May higher low, broke through 1.1244, 06 May high, extending gains to 1.1264 thus far. Bulls look to extend towards 1.1433, 07 May 2009 swing high, while loss of immediate support at 1.1150 would delay for 1.1056, 12 May low.

    Res: 1.1264, 1.1335, 1.1362, 1.1433
    Sup: 1.1150, 1.1075, 1.1056, 1.1034

    [​IMG]
     
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