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Short Term Technical Analysis for Majors (07:00 GMT)

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Tue May 17, 2011 7:57 am

EUR/USD

Maintains positive near-term tone from 1.4046, yesterday’s fresh 7-week low, after recovery attempt stalled at 1.4243 and subsequent pullback found support at 1.4144. Break above 4-hour 20 day MA at 1.4180 and major trendline connecting historical high of 2008 and 2009 peak, that has been lost, is required to open way for fresh attempt at initial resistance at 1.4243, ahead of 1.4338, 13 May high, clearance of which would signal near-term base and expose 1.4420/40, 11/09 May highs and over Fib 38.2% retracement of 1.4938/1.4046 downleg. Failure to clear 1.4243, however, would risk lower top and resumption of 2-week downtrend, with loss of 1.4046 to focus 1.4020 and 1.3980.

Res: 1.4200, 1.4243, 1.4260, 1.4305
Sup: 1.4128, 1.4090, 1.4046, 1.4020

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GBP/USD

Short-term downtrend from 1.6745/37, fresh annual highs and highest levels since Nov 2009, has found temporary ground at 1.6145. Near-term recovery is looking for break above 1.6240/53, 4-hour 20 day MA / yesterday’s high, to signal further correction and open 1.6270/85, 09 May low / Fib 38.2% of 1.6516/1.6145 decline, with possible test of key near-term resistance zone at 1.6300/20 seen on a break. On the downside, significant support lies at 1.6155, trendline support off 1.5935, 28 Mar low, ahead of 1.6145, loss of which resumes broader downtrend and opens 1.6125, Fib 76.4% of 1.5935/1.6745 ascend and 1.6090, 05 May low.

Res: 1.6253, 1.6286, 1.6307, 1.6320
Sup: 1.6173, 1.6155, 1.6145, 1.6125

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Re: Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Tue May 17, 2011 8:06 am

USD/JPY

Maintains short-term positive structure off 79.55, 05 May low, after recovery failure at 81.30 zone and subsequent reversal finding support at 80.33, just ahead of key near-term support at 80.15. Fresh gains broke above 81.33 previous high, signaling further recovery towards 81.68, 02 May high, ahead of Fib 38.2% of 85.50/79.55 downleg at 81.85 and daily 55 day MA at 82.00. Break here is required to open way towards key near-term barriers at 82.80 and 83.09. Yesterday’s low at 80.69, underpins the advance, with potential corrective pullback of overbought hourly conditions expected to hold above 81.00 to maintain immediate bull-tone.

Res: 81.68, 81.85, 82.00, 82.80
Sup: 81.03, 80.69, 80.33, 80.15

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USD/CHF
Has retraced Fib 38.2% of the recent recovery leg from 0.8550, 04 May record low, after clearance of 0.8900 barrier failed to sustain gains, stalling at 0.8944. Sharp reversal has so far found support at 0.8798, last Friday’s low, with fresh attempt higher under way. Break above 20 day MA on 4-hour chart at 0.8868 is now required to open 0.8900/44 for retest and above here to continue short-term recovery towards key barrier at 0.9006. Holding above 0.8800 keeps immediate bulls in play, while closing below here would signal temporary top at 0.8944 and allow for stronger reversal.

Res: 0.8868, 0.8900, 0.8944, 0.8960
Sup : 0.8798, 0.8781, 0.8706, 0.8675

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Short Term Technical Analysis for Majors (14:00 GMT)

Postby WindsorBrokers » Tue May 17, 2011 2:14 pm

EUR/USD

Failed to sustain gains above 1.42 barrier, as recovery attempt stalled at 1.4223, just ahead of yesterday’s high at 1.4243. Subsequent reversal broke below near-term trendline support off 1.4046 low at 1.4145 and yesterday’s low at 1.4128, to post fresh day’s low at 1.4122. Hourly studies are pointing lower, with 1.4100/1.4090 in sight. However, potential reversal above 1.4100 would keep near-term bulls alive for fresh push higher, with regain of 1.4223/43 required to confirm, otherwise, scope is seen for retest 1.4046 and extension of broader bears towards 1.4020/1.3980 on a break.

Res: 1.4160, 1.4175, 1.4223, 1.4243
Sup: 1.4122, 1.4090, 1.4046, 1.4020

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GBP/USD

Strong rally from today’s low at 1.6173 has briefly tested 1.63 barrier, ahead of sharp reversal to 1.6188, that nearly full retraced the recent gains. This weakens the near-term structure and turns immediate focus at 1.6180, trendline support and 1.6173/59, previous low, to possibly attack 1.6145 low and resume broader downtrend towards 1.6125/1.6090 on a break. However, higher low above 1.6173 would keep recovery hopes in play, with clearance of 1.6230/55, 20 day MA/Fibonacci level, needed to confirm and re-expose 1.6300/20 resistance zone..

Res: 1.6230, 1.6255, 1.6286, 1.6302
Sup: 1.6188, 1.6173, 1.6155, 1.6145

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USD/JPY

Strong reversal on extremely overbought hourly conditions has followed today’s rally through 81.33, previous high and initial target at 81.68, to hit 81.76, where bulls stalled. First support at 81.30 zone has so far been tested, with possible extension towards 81.00 area, where 4-hour 20 day MA is expected to contain dips, ahead of fresh push higher. Only loss of 80.70 higher base would signal an end of recovery attempt and open 80.33/15 instead.

Res: 81.76, 81.85, 82.00, 82.80
Sup: 81.10, 81.03, 80.69, 80.33

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USD/CHF

Trades in a near-term recovery mode after an upside rejection at 0.8944 triggered sharp sell-off to retest 0.8798 support zone. Current price action is limited by 4-hour 20 day MA at 0.8870, break of which is needed to resume higher at re-focus 0.8900/44 barriers. Failure to break higher, however, would signal head and shoulders developing on hourly chart, with loss of neckline at 0.88 zone required to complete the pattern and open fresh leg lower.

Res: 0.8880, 0.8900, 0.8944, 0.8960
Sup : 0.8838, 0.8798, 0.8781, 0.8706

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Wed May 18, 2011 7:43 am

EUR/USD

Attempt to form base extended gains from yesterday’s higher low at 1.4120, taking out 1.4243 initial resistance and breaking above near-term bear-channel. Immediate focus is on 1.4338, 13 May high, break of which is required to confirm near-term recovery and open key barriers at 1.4420/40. On the downside, 1.4180, 20 day MA on 4-hour chart, underpins the advance, while loss of 1.4120 weakens the structure.

Res: 1.4305, 1.4338, 1.4400, 1.4420
Sup: 1.4240, 1.4165, 1.4120, 1.4090

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GBP/USD

Maintains near-term positive structure from 1.6145 low. Clearance of 1.6300 barrier, that caps the upside for now, is required to resume recovery and open 1.6380/1.6420, while break above key near-term resistance at 1.6516, also Fib 61.8% retracement of 1.67451.6145 decline, is sought to re-focus 1.6700/45 zone. Failure under 1.63, however, risks fresh weakness, with loss of 20 day MA at 1.6220 to attract levels under 1.6200.

Res: 1.6287, 1.6302, 1.6320, 1.6380
Sup: 1.6237, 1.6200, 1.6185, 1.6155

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USD/JPY

Near-term price action remains on a back foot after break above 81.35 stalled at 81.76 and subsequent pullback dipped to 81.00 zone, where 20 day MA currently contains dip. Further weakness is looking for test of 80.70, possibly 80.33, loss of which would end hopes of fresh recovery and signal lower top at 81.76, ahead of possible attempt towards 80.00/79.55 zone. To improve immediate tone and re-focus 81.76, regain of 81.40/60 zone is needed

Res: 81.40, 81.60, 81.76, 82.00
Sup: 80.96, 80.69, 80.33, 80.15

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USD/CHF

Trades in a near-term consolidative mode after an upside rejection at 0.8944 triggered sharp sell-off to retest 0.8800 support zone. Current price action is limited by 4-hour 20 day MA at 0.8860, break of which is needed to resume gains re-focus 0.8900/44 barriers, otherwise, loss of 0.8800 neckline would signal completion of the hourly head and shoulders pattern and open way for fresh weakness towards 0.8700 area.

Res: 0.8860, 0.8880, 0.8900, 0.8944
Sup : 0.8783, 0.8730, 0.8706, 0.8675

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Short Term Technical Analysis for Majors (14:00 GMT)

Postby WindsorBrokers » Wed May 18, 2011 2:08 pm

EUR/USD

Corrects the recent 1.4120/1.4285 upleg, to test 1.4200 level for now. To keep immediate bulls in play, holding above 20 day MA at 1.4180, is required. Clearance of 1.4285 would signal a resumption of near-term bulls and open 1.4338 next. On the downside, key near-term support at 1.4120 underpins.

Res: 1.4240, 1.4285, 1.4305, 1.4338
Sup: 1.4165, 1.4120, 1.4090, 1.4046

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GBP/USD

Upside rejection under 1.63 barrier has triggered sharp fall through 1.6165 trendline support at 1.6145, previous low, posted on 13 May, to end corrective phase from 1.6145 and resume broader bear trend from 1.6745, 28 Apr annual high. 1.6102 has been tested so far, ahead of 1.6090, 05 Apr low, loss of which would bring focus 1.6000/1.5970. On the upside, 1.6190 offers initial resistance, while only break above 1.6300 would revive bulls.

Res: 1.6159, 1.6173, 1.6185, 1.6237
Sup: 1.6100, 1.6090, 1.6000, 1.5970

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USD/JPY

Has found temporary support at 81.00 zone after an upside rejection at 81.76 and subsequent reversal dipped to 80.93. Fresh strength regained 81.40, en-route to 81.76, above which would resume broader bull-trend from 79.55 and look for test of key barriers at 82.80/83.09. Today’s higher low at 80.93, along with 20 day MA, underpins the advance. Only loss of 80.75, trendline support, would weaken the near-term structure.

Res: 81.60, 81.76, 82.00, 82.80
Sup: 81.08, 80.93, 80.69, 80.33

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USD/CHF

Failed to complete hourly head and shoulders pattern after brief break below neckline at 0.8800 reversed at 0.8783 and lift above 0.8800 is focusing 4- hour 20 day MA at 0.8853, ahead of 0.8881. Break here is needed to signal an end of corrective phase and re-expose 0.8944. on the downside, 0.8800 zone remains key support.

Res: 0.8853, 0.8881, 0.8900, 0.8944
Sup : 0.8800, 0.8783, 0.8730, 0.8706

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Thu May 19, 2011 8:35 am

EUR/USD

Maintains near-term bull tone from 1.4046, after fresh support was found at 1.4200 zone, with 1.4300 tested so far, ahead of 1.4338, 13 may high. Break here is sought for resumption of near-term recovery phase and possible test of key resistances at 1.4420/40. Trendline off 1.4046, currently at 1.4200, along with 20 day MA, are expected to contain corrective dips and keep immediate bulls in play.

Res: 1.4305, 1.4338, 1.4400, 1.4420
Sup: 1.4250, 1.4211, 1.4194, 1.4120

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GBP/USD

Yesterday’s failure to reclaim 1.6300 barrier has triggered reversal through 1.6165/45, trendline support / previous low, to find support at 1.6100. Subsequent bounce regained previous support zone at 1.6150, with break above 1.6200, also 20 day MA, required to signal near-term base and open way for possible retest of 1.6287/1.6300 barriers. Daily outlook, however, is still pointing lower, after loss of 90 day MA at 1.6200, with main trendline support at 1.6060 in sight.

Res: 1.6185, 1.6200, 1.6237, 1.6287
Sup: 1.6135, 1.6100, 1.6090, 1.6060

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USD/JPY

Trades off highs at 81.80 zone after minor pullback was contained at 81.50, 20 day MA. Immediate scope is seen for clearance of 81.80/82.00 barriers, to resume short-term uptrend from 79.55 and focus key levels at 82.80/83.09. On the downside, 81.50/33 zone underpins while break below 81.00/85 would delay.

Res: 81.79, 82.00, 82.80, 83.09
Sup: 81.50, 81.28, 81.08, 80.93

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USD/CHF

Remains in sideways trading after break below 0.8800 strong support zone, was contained by daily 20 day MA at 0.8765. Current price action is limited within 0.8840/0.8765 range, with break of either side to define near-term direction.

Res: 0.8814, 0.8840, 0.8853, 0.8881
Sup : 0.8765, 0.8730, 0.8706, 0.8675

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Short Term Technical Analysis for Majors (13:30 GMT)

Postby WindsorBrokers » Thu May 19, 2011 2:06 pm

EUR/USD
Near-term price action remains capped at 1.4300 zone, today’s high / daily 55 day MA, after renewed attempt higher stalled on approach to 1.4300 and subsequent pullback looking for test of near-term range bottom at 1.4200 zone, 20 day MA, today/18 May low, also 38.2% Fibonacci retracement of 1.4046/1.4300 upleg. Break here would signal near-term top at 1.4300 and further reversal towards 1.4175/45, 50% / 61.8%, where a higher low is seen to maintain bulls from 1.4046. Reversal above 1.4200, however, would prompt fresh attack at 1.4300/38, key near-term barriers.

Res: 1.4294, 1.4305, 1.4338, 1.4400
Sup: 1.4205, 1.4194, 1.4120, 1.4090

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GBP/USD

Trades in a narrow range after bounce from 1.6100 support failed to break above 1.6200, 20 day MA. While the latter caps, immediate scope is for retest of 1.6100 support and extension of a broader downtrend towards 1.6090 initially. Above 1.6200, strong resistance lies at 1.6280/1.6300 zone, daily 55 day MA / 17/18 May highs..

Res: 1.6205, 1.6250, 1.6287, 1.6302
Sup: 1.6130, 1.6100, 1.6090, 1.6060

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USD/JPY

Maintains short-term bulls from 79.55 after correction from 81.76, 17 May high, found footstep at 81.52 and fresh rally cleared 81.76 and 82.00, daily 55 day MA, to test 90 day MA at 82.18 so far. Immediate focus is at 82.80, 27 Apr high and 200 day MA, break of which would turn broader outlook bullish and open way for possible attempt at 85.50, key short-term barrier. Hourly / 4-hour studies are in overbought zone, warning of corrective pullback. Strong support lies at 81.80 zone.

Res: 82.50, 82.80, 83.09, 83.77
Sup: 81.80, 81.50, 81.28, 81.08

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USD/CHF

Fresh strength has emerged from 0.8794, today’s low / daily 20 day MA, after downside failure to sustain break under 0.88.00, strong support zone. Clearance of 0.8842, yesterday’s high, extended gains towards 0.8880, break of which is required to confirm higher low at 0.8764 and open way for test of key near-term barrier at 0.8944. Overbought hourly conditions, however, suggest correction, with 0.8820/15 zone expected to contain dips. Dynamic support, 20 day MA, currently at 0.8825, underpins the advance.

Res: 0.8881, 0.8900, 0.8944, 0.9007
Sup : 0.8842, 0.8820, 0.8795, 0.8764

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Mon May 23, 2011 7:36 am

EUR/USD

Completed the ascending wedge pattern off 1.4046, breaking trendline support at 1.4244 and losing series of supports, to test 1.4046, 16 May previous low and daily 55 day MA. Break here would signal an end of recovery phase and fresh extension of the broader downtrend from 1.4938, yearly high, and turn focus towards supports at 1.4020, 1.3900 and 1.3860/50. Near-term conditions are oversold, suggesting bounce, with immediate resistance at 1.4120/40 zone and lower high sought below 1.4200, to maintain short-term bears.

Res: 1.4100, 1.4120, 1.4140, 1.4200
Sup: 1.4039, 1.4020, 1.3980, 1.3900

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GBP/USD

Continues to trade in a consolidative range within 1.6100/1.6300 after reversal from 1.6745, fresh high, found temporary ground at 1.6100 zone. Immediate outlook keeps the focus at the downside after last Friday’s upside rejection at 1.6300 and latest attempt through trendline support at 1.6185, to open way towards 1.6130, possibly to retest 1.6100 on a break. On the upside, clearance of 1.6200/30 is required to signal fresh strength and re-expose range ceiling at 1.6300 for retest. Above 1.6300 to open 1.6380/1.6420, while loss of 1.6100 to signal a resumption of downtrend from 1.6745 and possibly open 1.5935, 28 Mar low for test.


Res: 1.6215, 1.6232, 1.6275, 1.6302
Sup: 1.6158, 1.6130, 1.6100, 1.6090

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USD/JPY

Maintains near-term bulls while holding above 81.33, previous high, and trendline support off 79.55, currently at 81.15. Brief break above daily 55/90 day MA’s at 81.95/82.15, suggests further gains towards 82.80/83.09 barriers. Only break below 81.15 would weaken immediate bull structure and open way for deeper reversal towards 80.93/69.

Res: 82.00, 82.20, 82.80, 83.09
Sup: 81.50, 81.33, 81.15, 80.93

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USD/CHF

Trades in corrective mode from 0.8944, 13 May high but short-term bulls from 0.8550 remain intact as long as 0.8800 strong support zone holds. Upside clearance of 0.8850/75 is required to re- focus 0.8944, break of which to signal fresh recovery phase. Loss of 0.8800/0.8780, however, would weaken near-term structure and turn focus towards 0.8700 zone.

Res: 0.8853, 0.8875, 0.8900, 0.8944
Sup : 0.8800, 0.8764, 0.8706, 0.8675

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Short Term Technical Analysis for Majors (13:30 GMT)

Postby WindsorBrokers » Mon May 23, 2011 1:57 pm

EUR/USD

Extends fresh weakness from 1.4344, last Friday’s recovery high, losing 1.4046/20 supports to probe levels under 1.4000. Corrective bounce on oversold hourly conditions was so far capped by 14 day MA at 1.4040, with further correction seen towards 1.4110/50, as hourly studies started gaining momentum. However, near-term outlook remains negative, favoring further slide through 1.4000 and 1.3968, today’s low, to target 1.3900/1.3860/50.

Res: 1.4040, 1.4075, 1.4093, 1.4110
Sup: 1.4000, 1.3968, 1.3900, 1.3860

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GBP/USD

Dipped from 1.6300, last Friday’s high and near-term range ceiling, breaking through 1.6166/30 supports, to retest 1.6100, range floor. Losses have so far been contained here, but negative near-term studies keep break below 1.6100 favored and below here to target 1.5970 and strong support at 1.5935. Oversold hourly conditions, however, suggest that corrective bounce may precede fresh leg lower. Immediate resistances lie at 1.6130/50, while only regain of 1.62 zone would ease bear pressure.

Res: 1.6130, 1.6150, 1.6200, 1.6215
Sup: 1.6100, 1.6090, 1.6030, 1.6000

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USD/JPY

Keeps bulls from 79.55, 05 May low, in play after pullback from 82.22, fresh high posted on 19 May found support at 81.31, 12 may previous high. Fresh attempt high needs to clear 82.00/22 to resume gains towards 82.80/83.09 next. Downside remains supported at 81.31 and 81.15, main short-term trendline support.

Res: 81.89, 82.00, 82.20, 82.80
Sup: 81.65, 81.31, 81.15, 80.93

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USD/CHF

Fresh strength from 0.8755/45, today/last Friday’s lows, attempts through 0.8840, trendline drawn off 0.8944, 13 May fresh 5-week high, to focus 0.8975, break of which is required to confirm higher low and open way for retest of key near-term barrier at 0.8944. Hourly 20 day MA at 0.8800 and trendline support at 0.8765, underpin the advance.

Res: 0.8875, 0.8900, 0.8944, 0.9007
Sup : 0.8800, 0.8765, 0.8706, 0.8675

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