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

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Mar 15, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    The pair did not show much action during the European session, holding within a narrow range consolidation, above day’s high at 1.3000. Gains were so far capped by 55 day EMA at 1.3065, as hourly studies remain weak. Possible extension towards 1.3080/90 is not ruled out, but negative structure keeps the downside favored. Below 1.3000 to focus 1.2973, 16 Feb low and 1.2952, Fib 61.8% of 1.2622/1.3485 ascend.

    Res: 1.3065, 1.3077, 1.3090, 1.3100
    Sup: 1.3037, 1.3014, 1.3000, 1.2973

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    GBP/USD
    Moves in a choppy sideways mode, with upside being limited under 1.5700 barrier and hourly studies holding below their midlines. Immediate focus lies at day’s lows at 1.5630 zone, ahead of more significant 12 mar low at 1.5600, loss of which to resume broader weakness off 1.5991 and open 1.5500 zone next. Strong barriers at 1.5711/45, main bear trendline / 13/14 Mar double top, keep the upside well protected for now.

    Res: 1.5687, 1.5700, 1.5711, 1.5745
    Sup: 1.5635, 1.5620, 1.5600, 1.5550

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    USD/JPY
    Corrective pullback off today’s fresh high at 84.17 extends losses under Fib 38.2% of 81.95/82.00 upleg, as hourly studies are entering negative territory. This may risk an extension into 83.00, 50% and more significant supports at 82.63 and 82.00 zone, where 55 day EMA lies. Larger picture’s structure remains positive, but overextended studies see potential for stronger correction.

    Res: 83.50, 83.83, 84.00, 84.17
    Sup: 83.06, 83.00, 82.63, 82.50

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    USD/CHF
    The pair’s near-term price action is in a corrective mode, after yesterday’s rally through key short-term barrier at 0.9300, posted fresh high at 0.9333, levels last time seen at the end of Jan. Loss of 0.9300 handle so far tested support at 0.9250, where also 55 day EMA lies, ahead of 0.9200 zone, 50% retracement of 0.9070/0.9333 ascend. Near-term structure is weakening, as hourly studies are breaking below the midlines. Daily studies, however, are turning bullish and see potential for further extension of short-term bull-leg off 0.8930 double bottom, with the latest reversal still seen corrective.

    Res: 0.9287, 0.9300, 0.9317, 0.9333
    Sup: 0.9250, 0.9232, 0.9220, 0.9200

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