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Short Term Technical Analysis for Majors (13:00 GMT)

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Apr 5, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    Continues to trend lower, after overnight brief correction that was capped at 1.3163. Fresh weakness through 1.3050, 16 Mar low / daily Ichimoku cloud base, now opens way towards significant support zone at 1.3000/1.2973, Feb/Mar lows. Negative tone dominates on near-term studies, with no signals of reversal, despite being in oversold territories. Initial resistances lie at 1.3100/32.

    Res: 1.3100, 1.3132, 1.3163, 1.3180
    Sup: 1.3038, 1.3025, 1.3000, 1.2973

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    GBP/USD
    Slide off 1.6061, yearly high, was interrupted today by brief corrective bounce off 1.5832, with gains being limited at 1.5900, before bears took control. Fresh weakness broke below 200 day MA at 1.5845 and yesterday’s low at 1.5832, also 50% of 1.5600/1.6061 upleg, signaling further retracement. Immediate downside targets lie at 1.5800 and 1.5770, while today’s high at 1.5908 caps the upside for now.

    Res: 1.5841, 1.5859, 1.5900, 1.5908
    Sup: 1.5816, 1.5800, 1.5770, 1.5743

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    USD/JPY
    Near-term structure weakened further after loss of 82.00 base. Dips so far reached 81.82, ahead of quick reversal above 82.00 barrier. This is seen corrective, as long as yesterday’s intraday high and 55 day EMA at 82.60 zone stay intact and only break here to improve near-term negative outlook. Hourly RSI emerged from oversold zone, while other indicators hold negative tone, while 4H studies remain negative, keeping the downside vulnerable for retest of previous low at 81.54, below which to open 81.00 zone next.

    Res: 82.34, 82.67, 83.00, 83.29
    Sup: 82.00, 81.82, 81.50, 81.05

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    USD/CHF
    Remains in a strong uptrend from 0.9000 base, after brief pause off 0.9181, ended at 0.9141. Fresh strength surged through 0.9181 and 0.9200, Fib 61.8% of 0.9333/0.9000, to signal further recovery towards next barrier at 0.9250, 16 Mar high. Near-term positive structure remains supportive although studies are quite extended. Today’s intraday high and correction floor at 0.9181/41, offer initial support.

    Res: 0.9221, 0.9252, 0.9300, 0.9333
    Sup: 0.9181, 0.9141, 0.9135, 0.9116

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