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Short Term Technical Analysis for Majors (14:00 GM Post Reply Rate topic
WindsorBrokers Senior	18-Jan-2011 22:31        WindsorBrokers About Contact  Quote this Post!
x 0   x 0  Alert Admin	EUR/USD Reversal from 1.3457, 14 Jan peak has found support at 1.3243, just above 38.2% retracement of 1.2872/1.3457 ascend, ahead of fresh strength. Break above 1.3400 barrier now looks for retest of 1.3457, ahead of key 1.35 resistance, break of which is needed to spark fresh phase higher. Immediate support lies at 1.33 zone, while possible loss of 1.3243 would put test of 1.35 on hold and signal deeper correction towards 1.3165. Res: 1.3427, 1.3457, 1.3497, 1.3530 Sup: 1.3341, 1.3313, 1.3302, 1.3252 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20110118141010.gif GBP/USD Clearance of 1.5910, key near-term support has triggered fresh gains through 1.60, to hit 1.6058 high so far. Corrective pullback on overbought studies should be contained by 1.58 zone to keep immediate bulls in play, and through 1.6058 to target 1.6080/90. Res: 1.6014, 1.6058, 1.6080, 1.6095 Sup: 1.5953, 1.5904, 1.5885, 1.5868 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20110118140938.gif   USD/JPY Upside rejection at 83.67 and reversal of nearly 50% of 80.92/83.67 upleg suggests near-term top, ahead of further extension lower, with break below 82.30 to look for test of 82.00/81.65 zone, and possible return to 80.92, key short-term support.  Upside, regain of 83.00 is needed to improve the tone for 83.45 and 83.67 retest. Res: 82.79, 83.05, 83.14, 83.45 Sup: 82.27, 82.00, 81.67, 81.27 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20110118140856.gif   USD/CHF Break  below the latest consolidation floor at 0.9594, following an upside rejection at 0.9782, now suggests further reversal. Market has so far reached 0.9555, just above 50% retracement of 0.9301/0.9782 upleg, and break here to focus 0.9486, 61.8% next, loss of which would signal an end of corrective phase off 0.9301. Early downside rejection, however, would suggest higher low, though regain of 0.9685/0.9705 zone is required to confirm. Res: 0.9600, 0.9630, 0.9685, 0.9705 Sup: 0.9555, 0.9540, 0.9515, 0.9486 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20110118140822.gif
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