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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 15, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Extended decline from 1.3743 09 Feb lower high, to post fresh low at 1.3427 yesterday, ahead of the latest recovery attempt. This is seen capped by 1.3550, 38.2% of 1.3743/1.3427 decline for now, with lift above 1.3550/76 required to signal further recovery and open 1.3584, 50%, and 1.3620/37, 61.8% / 10 Feb intraday high. Upside rejection under 1.36, however, signal lower top and fresh weakness for retest of 1.3427 and attempt at 1.3395, 20 Jan low / channel support and 1.3366, 50% retracement of 1.2872/1.3860 upleg.

    Res: 1.3550, 1.3557, 1.3570, 1.3620
    Sup: 1.3460, 1.3427, 1.3395, 1.3366

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    GBP/USD

    Reversal from 1.6277, 03 Feb high, has so far found good support at 1.60 zone, ahead of strong rally that cleared several resistances and retraced over 61.8% of 1.6277/1.5996 decline at 1.6169, just ahead of 1.6184, 07 Feb lower high. Break here is needed to open way for test of 1.6277/97, key near-term resistances, clearance of which will trigger fresh phase higher. Immediate support lies at 1.6114/05.

    Res: 1.6169, 1.6184, 1.6228, 1.6277
    Sup: 1.6114, 1.6105, 1.6090, 1.6076

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    USD/JPY

    Extends recovery from 81.10 low to break above 83.67, previous high of 07 Feb to test 83.90, 21 Dec 2010 high, ahead of possible extension to 84.19 and final attempt at 84.49, 15 Dec 2010 high and key short-term resistance. Break here is needed to trigger fresh leg higher on recovery attempt from 80.24, 01 Nov 2010 low. Higher platform at 83.18/07 underpins the advance.

    Res: 83.90, 84.19, 84.49, 85.00
    Sup: 83.58, 83.18, 83.05, 82.80

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    USD/CHF

    Extends near-term recovery from 0.9327, through 0.9685/ 0.9762 resistances, extending gains to 0.9773, just under key short-term resistance at 0.9784. Correction lower has so far found foothold at 0.9680, with fresh strength looking for retest of 0.9773/84, break of which is needed to confirm higher low at 0.9327 and open way for stronger recovery towards 0.9850/0.9910. At the downside, immediate support lies at 0.9680, ahead of 0.9603/0.9550, 38.2% / 50% retracement of 0.9327/0.9773 ascend.


    Res: 0.9741, 0.9773, 0.9784, 0.9800
    Sup: 0.9680, 0.9660, 0.9603, 0.9550

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