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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 17, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Enters corrective mode after overnight’s break through key 1.2331 pivot, triggered fresh losses to 1.2233 thus far. Bounce off here has already cleared initial resistance at 1.2372, though break of 1.2514/33 is needed to trigger stronger recovery. Otherwise, fresh weakness through 1.2233 would target 1.2134, 50% retracement of 0.8225/1.6040, first.

    Res: 1.2441, 1.2514, 1.2533, 1.2574
    Sup: 1.2233, 1.2208, 1.2169, 1.2134

    [​IMG]


    GBP/USD

    Today’s clear break under the recent 1.4475 low now triggers a potential substantial extension lower, with 1.4245 seen so far. Hourly structure remains negative while below 1.4638, with scope for further losses, and under 1.4245 to target 1.37/1.36 zone near-term..

    Res: 1.4509, 1.4547, 1.4638, 1.4705
    Sup: 1.4245, 1.4200, 1.4155, 1.4110

    [​IMG]


    USD/JPY

    Remains weak from the 93.50/64 double top area that ended the recovery leg off 87.96, yearly low, posted on 06 May. Below 91.50 will fuel the decline to 90.83 first, possibly 90.00 on a break. 92.42/68 should cap attempts higher.

    Res: 92.68, 93.14, 93.64, 93.98
    Sup: 91.64, 91.50, 90.83, 90.00

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    USD/CHF

    Breach of 1.1245 pivot has focused 1.1484, 76.4% retracement of 1.1966/0.9916 decline, with 1.1444 reached thus far. Further gains would open 1.1500/46 zone next. Loss of 1.1244 former pivot, would delay and open 1.1150 instead.

    Res: 1.1444, 1.1484, 1.1500, 1.1546
    Sup: 1.1295, 1.1258, 1.1244, 1.1150

    [​IMG]
     
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