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Windsor Brokers - Short Term Technical Analysis for Majors (14:20 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 20, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Rally from 1.2522, 13 July higher low, peaked at 1.3006 on 17 July, ahead of correction. This has found support at 1.2868, and today’s fresh rally has dented 1.3006 barrier, with 1.3026 seen so far. Correction lower followed, with higher low required between 1.2835/1.2776, ahead of fresh strength. Above 1.3026 to open 1.3073, 61.8% of 1.3816/1.1875 decline first, then 1.3123, 38.2% of 1.5411/1.1875 fall.

    Res: 1.3026, 1.3073, 1.3095, 1.3123
    Sup: 1.2835, 1.2802, 1.2776, 1.2715

    [​IMG]


    GBP/USD

    Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350 yesterday, extending losses to 1.5152, just above 1.5148, 61.8% retracement of 1.4947/1.5470 ascend. Break here to trigger further weakness for possible full retracement. Upside, regain of 1.5308 is needed to ease bear pressure.

    Res: 1.5308, 1.5350, 1.5396, 1.5445
    Sup: 1.5148, 1.5085, 1.5067, 1.5046

    [​IMG]


    USD/JPY

    Extended decline from 89.14 lower top, with loss of 86.96, 01 July low, extending losses to 86.25 thus far. Correction off here is now underway, with break above 87.35/58 required to delay bears. Below, loss of 86.25 to resume the near-term downtrend and target 85.85, possibly 84.80, 2009 low.

    Res: 87.21, 87.35, 87.58, 88.00
    Sup: 86.47, 86.25, 86.15, 85.85

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    USD/CHF

    Extends corrective gains off a double bottom at 1.0399/1.0401, with scope for rise towards 1.0617 next. However, only a lift above 1.0675/95 will signal medium-term base, otherwise risks remains for break below 1.0399 to target 1.0366/00 territory.

    Res: 1.0560, 1.0583, 1.0617, 1.0645
    Sup: 1.0480, 1.0445, 1.0421, 1.0399

    [​IMG]
     
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