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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 26, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Fresh strength off 1.3573, yesterday’s low, has briefly broke above 1.37 level, ahead of consolidation. Bulls are firmly in play for attempt towards 1.3738, 61.8% retracement of 1.4280/1.2873 decline and 1.3784, 22 Nov 2010 high, seen on a break. Significant resistance lies at 1.4050, longer-term trendline connecting 1.5140 and 1.1.4280 peaks, break of which would signal the full retrace of 1.4280/1.2873 downleg. Downside, 1.3573/39 zone offers initial support.

    Res: 1.3720, 1.3738, 1.3784, 1.3824
    Sup: 1.3656, 1.3605, 1.3573, 1.3539

    [​IMG]



    GBP/USD
    Double upside rejection at 1.6016 has triggered sharp reversal through key near-term supports at 1.5920 and 1.5837. Further decline lost 1.5800 level, extending down to 1.5750 so far and denting 1.5760, 60 day MA. Bounce higher is seen corrective while 1.5920 holds, with lower high expected to precede fresh weakness towards 1.5700, 50% retracement of 1.5343/1.6058 upleg and 1.5650 zone, further down. Potential break below 1.5617, 61.8% retracement would end the recovery attempt and expose 1.5404/1.5343 lows for retest. Upside, break above 1.5920 sidelines bears and opens 1.6016/35 instead.

    Res: 1.5914, 1.5920, 1.6016, 1.6035
    Sup: 1.5846, 1.5768, 1.5750, 1.5716

    [​IMG]



    USD/JPY
    Remains in short-term downtrend from 83.67 after the recent recovery attempt from 81.84 higher low failed at 83.11, leaving a lower top, ahead of fresh weakness. Loss of 82.00 support now looks for retest of 81.84 and 80.92 higher low, break of which would signal an end of recovery attempt from 80.24, 2010 low. Upside for now remains capped by 82.65/90, though reclaim of 83.11 would signal fresh phase higher.

    Res: 82.27, 82.65, 82.91, 83.11
    Sup: 81.97, 81.84, 81.67, 81.51

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    USD/CHF
    Extends the downtrend from 0.9685 lower high, with loss of 1.9500 support and yesterday’s recovery failure at 0.9521, accelerating losses to 0.9402 so far. Recovery attempts are seen capped by 0.9497, trendline resistance and 0.9518/25 zone for now, with negative short-term outlook bringing retest of 0.9301, historical low in focus.

    Res: 0.9470, 0.9493, 0.9520, 0.9550
    Sup: 0.9402, 0.9365, 0.9336, 0.9301

    [​IMG]
     
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