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Windsor Brokers - Short Term Technical Analysis for Majors (14:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 27, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Correction from 1.3201, 23 Apr low, remains capped by 1.3422 thus far, keeping the broader downtrend in play. 1.3290 already dented, with further losses through 1.3268, to open 1.3201/1.3190 next. Break above 1.3422, however, delays and opens stronger correction towards 1.3448/1.3520.

    Res: 1.3422, 1.3448, 1.3501, 1.3520
    Sup: 1.3268, 1.3201, 1.3190, 1.3165

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    GBP/USD

    Short-term structure has now weakened further, as failing to find support for a potential higher low, has extended losses through 1.5396/50 support, to reach 1.5320 so far. This ends near-term bullish bias and opens way for fresh decline towards 1.5190.

    Res: 1.5473, 1.5497, 1.5508, 1.5520
    Sup: 1.5320, 1.5294, 1.5256, 1.5190

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    USD/JPY

    Upleg off 91.58, 19 Apr low, has stalled at 94.35 yesterday, just ahead of 94.77, 05 Apr pivot. Subsequent reversal broke below 93.62 and 93.45 supports, threatening now important 93.29, 23 Apr low support. Potential break here to risk 92.96/72, 50% retracement / 22 Apr higher platform, next. Only regain of 94.02 to improve tone.

    Res: 94.02, 94.35, 94.60, 94.77
    Sup: 93.29, 92.96, 92.72, 92.56

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    USD/CHF

    Correction off 1.0848 has taken the form of a descending wedge and this sets up the next leg higher to test 1.0898, 2010 high. 1.0787 marks a short-term pivot, while 1.0698/74 area offers initial support.

    Res: 1.0808, 1.0848, 1.0898, 1.0940
    Sup: 1.0718, 1.0698, 1.0674, 1.0657

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