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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 21, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extends reversal off 1.3026 high, breaking through 1.2835/02 support zone, to focus 1.2776, 14 July high/50% retracement of 1.2522/1.3026 upleg. Break here confirms top at 1.3026 and exposes 1.2715, 61.8% level next, with full retracement of the entire rally not ruled out.

    Res: 1.2838, 1.2869, 1.2924, 1.2966
    Sup: 1.2776, 1.2715, 1.2681, 1.2613

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    GBP/USD

    Maintains negative near-term structure, off 1.5470, 15 July high, as recovery attempt off 1.5267 failed at 1.5350, extending losses to 1.5152, just above 1.5148, 61.8% retracement of 1.4947/1.5470 ascend. Correction higher has followed, reaching 1.5335, over 50% of 1.5470/1.5152 decline, with higher low sought below 1.5350, 61.8%, before fresh weakness to target 1.5152. Above 1.5350 would attract 1.5470 instead.

    Res: 1.5335, 1.5350, 1.5396, 1.5445
    Sup: 1.5179, 1.5152, 1.5085, 1.5067

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    USD/JPY

    Succession of higher lows off 86.25, 16 July low, sees an attempt to extend recovery, with break above 87.58 now required. However, the latest sharp reversal now threats recovery and possible break below 86.62 to re-focus 86.25, break of which will expose 85.85/84.80.

    Res: 87.58, 87.84, 88.00, 88.26
    Sup: 86.62, 86.47, 86.25, 86.15

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    USD/CHF

    Minor ranging takes hold above 1.0445, 19 July higher low, setting state for next push through 1.0560, towards 1.0617 and key barriers at 1.0675/95. A reversal below 1.0445, however, resumes near-term decline and opens 1.0366 first, then 1.0344/00.


    Res: 1.0560, 1.0583, 1.0617, 1.0645
    Sup: 1.0483, 1.0451, 1.0445, 1.0421

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