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Technical Summary for Majors

Tue, Jan 13 2009, 13:17 GMT
by Slobodan Drvenica

Windsor Brokers Ltd


EURUSD
Recovery attempt off 1.3312, 6 Jan low, stalled at 1.3801 on 08 Jan, just under key 1.3840 pivot, turning focus lower again. Break below 1.3312 pivots the market towards 1.2894, 76% retracement of 1.2329/1.4723 advance. Upside attempts should be capped by 1.3426/47 for now.

Res: 1.3374, 1.3400, 1.3431, 1.3450
Sup: 1.3221, 1.3200, 1.3122, 1.3075

eurusd


GBPUSD

Advanced from 1.4350 (2008 low, posted 31 Dec, to reach 1.5374, 08 Jan high, is seen as the first leg in a 3 legged recovery. Needs to hold above 1.4350 to resume gains, otherwise loss there to open fresh weakness.

Res: 1.4786, 1.4803, 1.4827, 1.4887
Sup: 1.4551, 1.4475, 1.4428, 1.4375

gbpusd


USDJPY
Continues to slide lower off 94.65, 06 Jan peak, clearing the bull trendline off 87.16, 18 Dec low. Below 89.75 focuses 88.41, 19 Dec higher low, ahead of 88.10, 12 Dec low, while 89.54 caps above.

Res: 89.61, 89.75, 90.15, 90.30
Sup: 88.41, 88.10, 87.50, 87.16

usdjpy


USDCHF
Returns to strength, completing a 3-day bull pattern off 1.0865, 08 Jan low. Sustained break above 1.1244/80 will trigger next phase to 1.1447. Downside, 1.1098 provides immediate support.

Res: 1.1244, 1.1280, 1.1310, 1.1400
Sup: 1.1096, 1.1079, 1.1069, 1.1000

usdchf


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