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Monday, 28 April 2008

Windsor Brokers Ltd

EUR/USD
Extending pullback from last week's rejection of psychological 1.6000 level to come within reach of 1.5510 higher low, 03 April while highlighting a 4-week rising wedge breakout. Meantime, a suspected 5-wave hourly structure from 1.6020 nears possible completion while a relief bounce is sought with lift above 1.5707 favoring 1.5792/1.5835 throwback.
Res: 1.5669, 1.5708, 1.5746, 1.5774
Sup: 1.5585, 1.5555, 1.5533, 1.5510

USD/JPY
Has breached last Friday's 104.66 rally high to extend current upleg from last Tuesday's 102.67 higher low. Last Friday's lower rejection below 104.00 sets up next upside attempt towards 104.95/105.10 with break favoring extension towards 105.55/60, Fibonacci 76.4% of 108.62/95.77 fall. Relapsing under 103.90 however delays as daily studies are overbought.
Res: 104.95, 105.05, 105.38, 105.59
Sup: 104.41, 104.07, 103.85, 103.32

GBP/USD
Surges off last Friday's potential higher base as bull engulfing candle pattern beckons. Rally thus far has met minimum retrace of prior 3-legged swings from 2.0029, 21 April high at 1.9890 while pullback for now seeks a higher low above last Friday's 1.9677 before next upleg. Above 1.9890 opens initial 1.9975, 23 April high.
Res: 1.9862, 1.9890, 1.9936, 1.9975
Sup: 1.9807, 1.9772, 1.9756, 1.9745

USD/CHF – 09:00 (GMT+3)
Seeing upper rejection of a 4-week falling trendline resistance after reaching a high of 1.0431 last Friday. Subsequent daily doji candle reflects immediate bull hesitation while risking possible bear easing towards 1.0220/00 region before bulls reassert. Clearing 1.0431 favors 1.0540/45, 61.8% retrace of 1.1108/0.9630 fall next.
Res: 1.0385, 1.0431, 1.0457, 1.0485
Sup: 1.0302, 1.0282, 1.0247, 1.0235