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Technical Summary for Majors

Wed, Jan 14 2009, 15:05 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 1.3000/1.2894, psychological barrier/76.4% retracement of 1.2329/1.4723 advance. Upside attempts should be capped by 1.3140/88.

Res: 1.3335, 1.3374, 1.3400, 1.3431
Sup: 1.3000, 1.2968, 1.2903, 1.2894

eurusd


GBPUSD
Strong decline from 1.5374, 08 Jan lower high, now risks full retracement of the rally from 1.4350, 31 Dec 2008 bottom, although a bounce towards 1.4617/56 may precede fresh weakness. However, while 1.4350 holds, scope remains for further recovery.

Res: 1.4600, 1.4710, 1.4765, 1.4785
Sup: 1.4470, 1.4428, 1.4375, 1.4350

gbpusd


USDJPY
Slipped lower off 94.65 to find short-term support at 88.80. Marginal higher low is now leading to pressure on 89.98/90.09 resistance area, where a break is needed to end bear structure.

Res: 89.98, 90.15, 90.30, 90.60
Sup: 88.98, 88.41, 88.10, 87.50

usdjpy 


USDCHF
Maintains positive structure off 1.0370, 29 Dec low. Market will continue to pressure 1.1255/80 ceiling, with potential break there to focus 1.1562, 61.8% retracement of 1.2296/1.0368 decline next. Downside, 1.1098 underpins the advance.

Res: 1.1255, 1.1280, 1.1310, 1.1400
Sup: 1.1123, 1.1098, 1.1069, 1.1000

usdchf


Archive

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http://www.windsorbrokersltd.com | customerservices@windsorbrokersltd.com

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The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

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