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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 4, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Upside rejection at 1.2325, just below key 1.2352 level, has triggered fresh weakness, to break through 1.2110. Losses reached a fresh yearly low of 1.2017, and this now confirms negative structure for further decline, targeting 1.1823 and 1.1640, 2006 lows. Upside, 1.2153 and 1.2213 now reverted to resistance and only break here would delay immediate bulls.

    Res: 1.2110, 1.2153, 1.2213, 1.2232
    Sup: 1.2017, 1.2000, 1.1952, 1.1905

    [​IMG]


    GBP/USD

    Short-term outlook still sees scope for a final swing higher to complete the recent recovery off 1.4230, annual low. Regain of 1.4740/69 is needed to resume higher, with 1.4548 offering initial support. Medium-term outlook, however, seeks a lower high under 1.5033, for fresh weakness and an eventual relapse towards 1.3500.

    Res: 1.4687, 1.4740, 1.4769, 1.4782
    Sup: 1.4539, 1.4503, 1.4468, 1.4437

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    USD/JPY

    Extended gains off 90.53, 01 June higher low, to test 92.94 today. Rally stalled at 92.87, ahead of sharp reversal and break below 92.20/00 support zone, weakening near–term outlook in favor of further pullback. 9119/90.86 seen next, ahead of possible retest of 90.53. Upside, 92.94 now seen key, and break here is required to resume ascend towards 93.10/65.

    Res: 92.94, 93.10, 93.65, 94.00
    Sup: 91.76, 91.48, 91.19, 90.86

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    USD/CHF

    Dipped under 1.1515 trendline to find support at 1.1417 before reversal. Rejection supports underlying bull tone and the latest attempt through 1.1572 and break above 1.1601 will firm for a push towards the long-term trendline resistance at 1.1777.

    Res: 1.1601, 1.1655, 1.1694, 1.1730
    Sup: 1.1495, 1.1467, 1.1449, 1.1417

    [​IMG]
     
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