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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Dipped under 1.2176 to reach 1.2153 low yesterday, ahead of fresh recovery attempt. Structure, however, remains negative while 1.2342/86 caps and lower top below the latter would signal fresh weakness, to target 1.2142/34 zone. Break above 1.2386 would delay for 1.2415/45 initially.

    Res: 1.2343, 1.2386, 1.2415, 1.2445
    Sup: 1.2153, 1.2142, 1.2134, 1.2100

    [​IMG]


    GBP/USD

    Extended bounce off 1.4257 higher low, clearing 1.4546 resistance, to reach 1.4584, ahead of sharp reversal. Current attempt at 1.4418, trendline support, warns of fresh weakness on a break. 1.4365/29 seen next, with possible extension towards 1.4257 no ruled out. To avoid immediate bear pressure, minimum of 1.4525 must be regained, and clearance of 1.4584/1.4604 to resume bulls.

    Res: 1.4584, 1.4604, 1.4639, 1.4702
    Sup: 1.4401, 1.4365, 1.4329, 1.4304

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    USD/JPY

    Bounce off 89.21, 25 May low, currently breaks through 90.66, yesterday’s high, ahead of key 200 day MA at 91.06, break of which would resume recovery. Failure to do so risks the test 89.45, trendline drawn off 06 May, where a break opens 88.95.

    Res: 90.93, 91.06, 91.30, 91.46
    Sup: 89.75, 89.45, 89.21, 88.95

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    USD/CHF

    Fresh strength off today's 1.1501 low reclaimed 1.1622 resistance, reopening 1.1694, yearly high, posted on 25 May. Break above here challenges a long-term falling trendline at 1.1785. Loss of 1.1501 would delay for 1.1449 key support.

    Res: 1.1694, 1.1725, 1.1742, 1.1785
    Sup: 1.1575, 1.1530, 1.1501, 1.1449

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