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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 1, 2011.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Renewed attempt at 1.3860 barrier failed just under yesterday’s high at 1.3854. Immediate reversal has so far been contained by 1.38 zone, with near-term bulls remaining in play while 1.3710/00 stays intact. Above 1.3860 to eye 1.40, possibly to attempt at 1.4280, 04 Nov 2010 high, in a near future.

    Res: 1.3831, 1.3854, 1.3860, 1.3900
    Sup: 1.3804, 1.3785, 1.3779, 1.3759

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    GBP/USD

    Today’s strength from 1.6250 support, finally cleared key barrier at 1.6297, extending gains to fresh yearly low at 1.6328. Corrective pullback was contained by 1.6250, ahead of fresh push higher, and through 1.6328 to focus 1.6400/56 next.

    Res: 1.6298, 1.6328, 1.6371, 1.6400
    Sup: 1.6250, 1.6215, 1.6185, 1.6160

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    USD/JPY

    Attempts to build near-term base after finding support at 81.61 and bounce from here breaking above 82.00 initial resistance. Immediate targets lie at 82.50/85, while break above 83.00 to confirm recovery for attempt at 83.96/84.49 barriers. Upside rejection under 82.85 would risk lower top, ahead of fresh weakness, and below 81.61 to target 81.10/80.92 next.

    Res: 82.23, 82.31, 82.85, 83.00
    Sup: 82.00, 81.90, 81.72, 81.61

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    USD/CHF

    Trades in a near-term corrective mode, after hitting fresh record low at 0.9221 on 25 Feb. Clearance of initial barrier at 0.9315 will focus 0.9390, ahead of 0.9430, 21 Feb former low / 38.2% Fibonacci retracement of 0.9773/0.9221 descend, and then 0.95 zone, near 50%, break of which is needed to confirm recovery, otherwise, lower top under 0.95 and fresh weakness towards 0.9221, would likely scenario.

    Res: 0.9320, 0.9390, 0.9430, 0.9504
    Sup: 0.9283, 0.9258, 0.9238, 0.9221

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