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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 14, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Trading in a consolidative mode and a narrow range, after rally from 1.2522 higher low tested 1.2738. Further upside remains favored while 1.2522, key support holds, and above 1.2738 to focus 1.2770, upper channel boundary and 1.2801, 11 May high.

    Res: 1.2738, 1.2770, 1.2801, 1.2850
    Sup: 1.2680, 1.2648, 1.2613, 1.2565

    [​IMG]


    GBP/USD

    Yesterday's downside rejection at 1.4963 has triggered strong bounce, clearing 1.5239, 08 July high and extending gains to 1.5289, just below 1.5304, 38.2% retracement of 1.7041/1.4230. Risk remains of a lower top at this area, ahead of fresh weakness, with regain of minimum 1.5500 needed to resume recovery off 1.4230.

    Res: 1.5289, 1.5301, 1.5345, 1.5390
    Sup: 1.5187, 1.5143, 1.5085, 1.5068

    [​IMG]


    USD/JPY

    Bounce off 88.01, yesterday’s higher low, stalled at 89.10, just under 89.14, 12 July high, ahead of reversal. Market is approaching key 88.01 support, break of which would sideline near-term bulls in favor of fresh decline to test 87.62 first. Higher low above 88.01, however, keeps retest of 89.14 in play.

    Res: 88.62, 88.93, 89.02, 89.14
    Sup: 88.18, 87.99, 87.62, 87.34

    [​IMG]


    USD/CHF

    Decline from 1.0645, yesterday’s lower top, reached 1.0513, ahead of the latest bounce. Near-term, a flat consolidation is developing while the recent trend remains negative, and break below 1.0513/1.0480 to resume fall, while lift above 1.0675/95 may signal basing.


    Res: 1.0617, 1.0645, 1.0675, 1.0695
    Sup: 1.0513, 1.0480, 1.0433, 1.0400

    [​IMG]
     
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