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Short Term Technical Analysis for Majors (10:00 GM Post Reply Rate topic
WindsorBrokers Senior	17-Nov-2010 18:11        WindsorBrokers About Contact  Quote this Post!
x 0   x 0  Alert Admin	EUR/USD Has further extended weakness off 1.4280 peak, to probe 50% retracement of 1.2643/1.4280 upleg, reaching 1.3446 so far. Break below 60 day MA at 1.3477 confirms negative short term outlook and favors further weakness towards 1.3380, possibly 1.3272, 61.8% level, on a break. Pullback should be limited by 1.3640/65 zone and potential break here to signal recovery, though, clearance of 1.3800 is needed to confirm. Res: 1.3570, 1.3640, 1.3665, 1.3685 Sup: 1.3446, 1.3400, 1.3380, 1.3332 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20101117095633.gif   GBP/USD Failure to break above 1.6180 has left a lower top ahead of fresh weakness. Break through 1.5951, previous low, has cleared 1.5899, 61.8% of 1.5651/1.6180 upleg, to reach 1.5838 low so far. Negative hourly studies see scope for further decline towards 1.5804, 76.4% retracement, with possible return to 1.5651 higher base. Corrective pullbacks on oversold conditions are for now seen limited by 1.5985. Res: 1.5951, 1.5985, 1.6025, 1.6050 Sup: 1.5838, 1.5804, 1.5761, 1.5729 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20101117095612.gif USD/JPY Succession of fresh highs on recovery from 80.24 base, and break through 82.97, 60 day MA, sees scope for further gains. Next targets lays at 83.73/97, 61.8% of 85.92/80.24 decline/05 Nov high, while 82.70 underpins the advance. Res: 83.58, 83.73, 83.97, 84.08 Sup: 83.00, 82.83, 82.70, 82.32 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20101117095549.gif   USD/CHF Strong rally emerged from narrow consolidation on 15/16 Nov, briefly broke above 0.9969, 01 Nov previous high, setting scope for fresh gains towards 1.0044, 50% retracement of 1.0625/0.9461 downleg. Corrective pullbacks on overbought conditions should be limited by 0.9869/27, to keep immediate bulls in play. Res: 0.9974, 1.0015, 1.0044, 1.0075 Sup: 0.9869, 0.9827, 0.9795, 0.9761 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20101117095515.gif
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