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

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Aug 9, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    The pair dropped yesterday to 38.2% Fibo at 1.2325 of 1.2130 to 1.2440 rise, still on a side way trend if 1.2440 high is not broken. On the downside 1.2325 remains the first support ahead of 50% Fibo 1.2285, and 61.8% Fibo at 1.2250, were a break there would open the point the rise started at 1.2215, the upside will be resumed after a break of 1.2440, then to 1.2505, which will open 1.2555 and 1.2625 next.


    Res: 1.2440, 1.2505, 1.2555, 1.2625
    Sup: 1.2325, 1.2290, 1.2250, 1.2215

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    GBP/USD
    Maintained after yesterday’s drop to 1.5570 zone, cable managed to rise again to 1.5680/90 zone where previous highs since the beginning of Aug kept the market from rising. Most indicators are showing a side way trend, unless 1.5570 and 1.5690 range is broken. A break above 1.5690 would open 1.5730 and 1.5770. Were the downside is possible after a break of 1.5570 and 1.5545 zone, in which it will open 1.5490 zone.

    Res: 1.5680, 1.5690, 1.5730, 1.5770
    Sup: 1.5570, 1.5545, 1.5490, 1.5455

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    USD/JPY
    Still trading in side way range and after Last night’s BOJ rate statement did nothing but a small drop to 78.27. Daily indicators are showing a positive direction to the upside as a daily higher low pattern is forming. However, the pair is still trading between 78.70 and 77.90, which will open the upside to 79.15 and 80.00 next, or the downside to 77.65 and 76.00 next.

    Res: 78.70, 79.10, 80.00, 80.60
    Sup: 77.90, 77.65, 77.30, 76.70

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    Gold
    Ranging trading dominates the action on Gold as 1618 was not broken from the upper side, on the other hand, 1600 zone is still holding gold from any drop to 1584 support. A break of 1618 would open 27th July high at 1628 and then 1635/40 the higher side of the medium term barrier, the downside is favored after a break of 1600 zone to 1584.


    Res: 1618, 1628, 1635, 1640
    Sup: 1603, 1597, 1584, 1566

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    Crude Oil
    Still trading on high territory Oil managed to break through yesterdays high with 30 pips, as long as the lower sides are maintained the uptrend is expected to resume, the down side is protected at 92.30 and 91.70 zone, a break there would open 90.55 and 89.40. on the upside, first resistance lays at 95.40 which will open 97.55 and 100.75 next.

    Res: 94.65, 95.40, 97.55, 100.75
    Sup: 92.30, 91.70, 90.55, 89.40

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