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Short Term Technical Analysis for Majors (08:10 GM
WindsorBrokers Senior	24-Sep-2010 16:57 WindsorBrokers About Contact Quote this Post!
x 0 x 0 Alert Admin	EUR/USD Corrects lower following the recent surge through 1.3332 resistance that peaked at 1.3438 on 22 Sep. Market has so far retraced 38.2% of 1.3028/1.3438 upleg at 1.3285, with further consolidation seen preceding the fresh strength towards 1.3510, 50% of 1.5144/1.1875 downleg and 1.3523, 20 Apr high. Downside, 1.3285/32 zone offers immediate support. Res: 1.3363, 1.3379, 1.3419, 1.3438 Sup: 1.3285, 1.3266, 1.3232, 1.3185 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/eurusd_20100924082121.gif GBP/USD Correction off 1.5295, 07 Sep low, has seen renewed attempt at 1.5728, 61.8% retracement of 1.5997/1.5295 downleg, with 1.5740 seen so far, but failed to sustain gains. Break above the latter is required to resume near-term gains and expose 1.5822, 11 Aug high, next. Downside, 1.5610/03 offers support and potential break here to allow stronger reversal towards 1.5503. Res: 1.5714, 1.5728, 1.5740, 1.5760 Sup: 1.5640, 1.5610, 1.5603, 1.5585 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/gbpusd_20100924082056.gif USD/JPY Bounced strongly off 84.25, 22/23 Sep double dip, to reach 85.38, ahead of reversal. The upside rejection warns of possible return to 84.49/25, break of which would resume the near-term downtrend off 85.92. Upside, regain of 85.38 improves the tone for 85.92 retest. Res: 85.38, 85.64, 85.80, 85.92 Sup: 84.49, 84.25, 84.05, 83.75 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdjpy_20100924082027.gif USD/CHF Continues to trend lower, following reversal off 1.0181, with break below 0.9916, 2009 low, extending losses to 0.9803 so far. Minor correction from here is nearly over and break through 0.9803 to expose 0.9875, Mar 2008 lows net, with possible test of 0.9630, all-time low, not ruled out. Upside, 0.9880/98 caps for now. Res: 0.9880, 0.9898, 0.9931, 0.9980 Sup: 0.9803, 0.9785, 0.9700, 0.9630 http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/usdchf_20100924081951.gif
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