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Windsor Brokers - Short Term Technical Analysis for Majors (14:15 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 13, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends reversal off 1.2721, to test 1.2522 support, ahead of bounce. Break above 1.2600/13 resistance zone, focusing 1.2648, break of which is required to neutralize near-term bears in favor of fresh attempt at 1.2721/30. Failure under 1.2648, however, risks lower top, ahead of fresh weakness towards 1.2522/1.2479.

    Res: 1.2648, 1.2682, 1.2721, 1.2738
    Sup: 1.2565, 1.2522, 1.2503, 1.2479

    [​IMG]


    GBP/USD

    Reversal off 1.5239 has found support at 1.4947 yesterday, ahead fresh strength, interrupted by today’s dip to 1.4963. Clearance of 1.5100/26 resistances now turns focus towards1.5204 and final push to 1.5239.

    Res: 1.5171, 1.5204, 1.5225, 1.5239
    Sup: 1.5068, 1.4963, 1.4947, 1.4934

    [​IMG]


    USD/JPY

    Recovery phase off 86.96/87.01 base approached 89.19/21, trendline resistance / 38.2% retracement of 92.87/86.96 decline, ahead of pullback. Today’s break through 88.55 has seen an attempt at 88.25, with 88.18 reached so far. Clear break here is needed to confirm lower top in place, and possible return to 86.96. Holding above 88.25, however, would keep immediate bulls in play for retest of 89.21/50.

    Res: 88.85, 89.06, 89.21, 89.50
    Sup: 88.18, 87.99, 87.62, 87.34

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    USD/CHF

    Reversal off 1.0675, yesterday’s high, reclaimed 1.0550/40, 12/07 July lows, refocusing bears for retest of 1.0480. Break here risks the key 1.0433 reaction low. Only lift above today's high at 1.0645 would delay immediate bears.

    Res: 1.0675, 1.0695, 1.0749, 1.0765
    Sup: 1.0526, 1.0480, 1.0433, 1.0400

    [​IMG]
     
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