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

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Mar 28, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    Hourly studies lost bullish momentum, after yesterday’s rally was capped at 1.3384 and subsequent easing dipped to 1.3310. Hourly 55 day EMA so far contained reversal, just ahead of more significant support zone at 1.3300/1.3280, and while holding above here, fresh attack at 1.3384/1.3400 zone remains in play, as 4H chart’s studies hold positive tone. Lift above the latter to open way towards key short-term barrier at 1.3485.

    Res: 1.3346, 1.3366, 1.3384, 1.3400
    Sup: 1.3310, 1.3300, 1.3290, 1.3280

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    GBP/USD
    Reversal from yesterday’s fresh high at 1.6000, after the pair briefly broke above previous 1.5991 peak, holds above yesterday’s lows at 1.5940 for now. However, further easing is not ruled out, as hourly studies are pointing lower, with next array of strong supports seen at 1.5920/00 zone, which should contain dips, to keep near-term bulls intact for possible fresh attempt higher. Clearance of 1.6000 to open 1.6090/1.6100 next. On the downside, 200 day MA at 1.5845 underpins.

    Res: 1.5963, 1.6000, 1.6050, 1.6090
    Sup: 1.5922, 1.5908, 1.5890, 1.5845

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    USD/JPY
    The price is losing traction after yesterday’s brief break above 83.00 barrier, failed to sustain gains. Hourly studies are breaking below the midlines, with first support at 82.60 coming under pressure. Break here to open way for retest of key support and breakpoint at 81.95/85 zone, break of which to spark stronger reversal and expose Fibonacci level at 81.00 next. Key near-term barrier lies at 83.38, yesterday’s high and only break here to improve near-term structure.

    Res: 83.00, 83.20, 83.50, 83.74
    Sup: 82.60, 82.29, 81.95, 81.85

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    USD/CHF
    Maintains negative short-term tone off 0.9333 peak, as loss of very strong support at 0.9070 zone now open way for test of psychological level at 0.9000, ahead of key support at 0.8930. Near-term studies hold in the negative territory, with current consolidation above yesterday’s low at 0.9015, being limited by 55 day EMA and still holding below 0.9070, now reverted to resistance. Only clear break here would avert immediate downside risk and allow for stronger correction.

    Res: 0.9065, 0.9070, 0.9075, 0.9100
    Sup: 0.9030, 0.9015, 0.9000, 0.8950

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