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Windsor Brokers - Short Term Technical Analysis for Majors (15:30 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 4, 2010.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    Reverses sharply to 1.3600 area after upside failure at 1.3693 today. 1.3590 support is now at risk and potential break there is expected to weaken the structure and focus 1.3433.

    Res: 1.3693, 1.3711, 1.3735, 1.3790
    Sup: 1.3591, 1.3581, 1.3513, 1.3460

    [​IMG]

    GBP/USD

    Correction off 1.4780 may be reaching completion, if 1.5130, yesterday’s high, caps. Otherwise, stronger correction higher would be likely scenario, to focus 1.5315/45. Failure under 1.5130, however, would signal double top, ahead of fresh weakness towards 1.4974/45.

    Res: 1.5130, 1.5180, 1.5210, 1.5235
    Sup: 1.5021, 1.5013, 1.5000, 1.4974

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    USD/JPY

    Fresh strength emerges from today’s lower rejection at 88.13, clearing several resistances, to reach 89.20 thus far. 89.50 is now seen as next target, with break there to expose 90.35, though, overbought hourly studies suggest correction, with 88.50/40 zone expected to contain.

    Res: 89.20, 89.48, 90.35, 90.55
    Sup: 88.63, 55.55, 88.45, 88.13

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    USD/CHF

    Dipped below 1.0695 support yesterday, testing 1.0645, 17 Feb low. Correction higher is now under way, though, while 1.0764 caps, the bias remains lower. Above there, however, would shift the focus towards 1.0889/99.

    Res: 1.0764, 1.0801, 1.0828, 1.0899
    Sup: 1.0667, 1.0645, 1.0630, 1.0582

    [​IMG]
     
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