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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jan 27, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD
    Today’s break through 1.3738, 61.8 Fibonacci level, has so far reached 1.3757, fresh two-month low, en-route to 1.3784 target, 22 Nov 2010 lower high. Regain of the latter would open way for test of 1.4050, longer-term descending trendline, connecting 1.5140 and 1.4280 peaks. Corrective pullbacks should be contained by 1.3530/00, to maintain immediate bulls.

    Res: 1.3784, 1.3800, 1.3824, 1.3880
    Sup: 1.3665, 1.3640, 1.3605, 1.3573

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    GBP/USD
    Extends recovery from 1.5750, breaking above 1.5936, overnight’s high and 1.5953 Fibonacci level, to approach 1.6000/15 barrier. Reclaim of the latter would open key near-term resistance at 1.6058 for retest. Break here is needed to extend short-term uptrend from 1.5343/1.5404 and target 1.6093 and 1.6161, descending trendline drawn off 1.7041, Aug 2009 peak. Immediate support lies at 1.5900/1.5880 zone.

    Res: 1.6000, 1.6016, 1.6035, 1.6058
    Sup: 1.5943, 1.5895, 1.5880, 1.5846

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    USD/JPY
    Bounced sharply after the recent decline from 83.11 found support at 82.00 zone, just above 81.84, key near-term support. Brief break above 83.11 now signals further gains and retest of 83.45/67 barriers, break of which is needed to resume broader recovery from 80.92, yearly low. To maintain immediate bulls, 82.60 zone is expected to hold corrective dips.

    Res: 83.20, 83.45, 83.67, 84.19
    Sup: 82.66, 82.47, 82.27, 81.97

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    USD/CHF
    Extends the downtrend from 0.9685 lower high, with loss of 1.9500 support and recovery rejection at 0.9521, accelerating losses to 0.9388 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. Only break above 0.9520 would signal further recovery, though regain of 0.9575/0.9600 needed to confirm.

    Res: 0.9470, 0.9493, 0.9520, 0.9550
    Sup: 0.9399, 0.9388, 0.9365, 0.9336

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