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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 9, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Undergoes corrective phase after yesterday’s bounce off 1.3282, just above 1.3266, 2010 low. Today’s clearance of 1.3409 resistance has so far reached 1.3417, followed by pullback. 1.3341, today’s low, needs to hold to keep immediate bulls in play, and above 1.3417 to extend correction towards 1.3459, where a lower top should take place, ahead of fresh weakness. Only break above the latter would allow for stronger correction.

    Res: 1.3417, 1.3438, 1.3459, 1.3497
    Sup: 1.3341, 1.3320, 1.3282, 1.3266

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    GBP/USD

    Extends gains off 1.4797 to dent key 1.5380 resistance today. Clear break here would signal further recovery towards 1.5475, while early upside rejection risks lower top, for fresh attempt at 1.5167/28 zone.

    Res: 1.5400, 1.5420, 1.5475, 1.5520
    Sup: 1.5235, 1.5220, 1.5167, 1.5128

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    USD/JPY

    Recovers off yesterday’s 92.82 low, just below 38.2% retracement of 89.74/94.77 rise ascend, leaving a bullish hammer candle. Risk is now seen for a lower top to form, ahead of fresh decline back towards 91.45, 200 days moving average.

    Res: 93.85, 94.03, 94.25, 94.77
    Sup: 93.05, 92.82, 92.75, 92.45

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    USD/CHF

    Failing to break above congestive tops at 1.0802/08 while daily shooting star warns of possible weakness. Current risk is seen of further retracement of 1.0433/1.0784 upleg, with a break below 1.0677 to open 1.0650/08, 38.2%/50% respectively.

    Res: 1.0742, 1.0795, 1.0809, 1.0827
    Sup: 1.0677, 1.0650, 1.0608, 1.0585

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