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Short Term Technical Analysis for Majors (08:40 GM
WindsorBrokers Senior	22-Jul-2010 17:16 WindsorBrokers About Contact Quote this Post!
x 0 x 0 Alert Admin	EUR/USD Further corrects the upleg off 1.2522, 13 July higher low to 1.3026, 20 July high. Market has so far retraced over 50%, reaching 1.2731 low late yesterday. Next target stands at 1.2715, 61.8% and 1.2681, 14 July low, where possible higher low is sought. However, upside regain of 1.2920/30 is needed to return to strength, while loss of 1.2681 risks retest of 1.2522. Res: 1.2838, 1.2869, 1.2924, 1.2966 Sup: 1.2731, 1.2715, 1.2681, 1.2613 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20100722084638.gif GBP/USD Maintains negative near-term structure, off 1.5470, 15 July high, as the market already retraced over 61.8% of 1.4947/1.5470 upleg, reaching 1.5123 so far. This may signal a potential return to weakness, with loss of 1.4947 required to confirm. Upside attempt are for now capped by 1.5350 and only break here to pivot market higher. Res: 1.5240, 1.5257, 1.5335, 1.5350 Sup: 1.5125, 1.5085, 1.5067, 1.5046 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20100722084602.gif USD/JPY Recovery attempt off 86.25 failed at 87.56, ahead of fresh weakness. Break below 86.85/47 support zone now focuses 86.25, break of which to expose 85.85 first, ahead of possible retest of key 84.80, 2009 low. Above, regain of 87.35/56 is needed to return to strength. Res: 86.85, 87.35, 87.58, 87.84 Sup: 86.25, 86.15, 86.00, 85.85 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20100722084539.gif USD/CHF Is breaking lower from the recent bear flag to signal the next leg lower, to test 1.0400, and below here to open 1.0366, with studies confirming the negative structure. Upside, 1.0545/60 zone is expected to cap, and only break above the latter to trigger fresh strength. Res: 1.0545, 1.0560, 1.0583, 1.0617 Sup: 1.0399, 1.0366, 1.0344, 1.0317 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20100722084506.gif
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