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Daily Technical Outlook for Majors 14/11/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 14, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    [​IMG]EURUSD
    The Euro remains directionless in near-term trade, as repeated attempts at 1.25 barrier remain capped by descending 4-hour 55EMA. Neutral studies suggest further range trading, as range floor 1.24 zone holds pullbacks for now and the pair is awaiting catalyst to establish fresh direction. Overall bearish tone sees resumption of larger bear-trend, after current consolidative phase ends, as signals from daily MACD/RSI bullish divergence did not trigger any stronger bounce so far. Initial barrier lies at 1.25, ahead of lower top at 1.2532 and pivotal 1.2576, 04 Nov lower top. On the downside, 1.2415/1.2390 zone marks significant support and potential break here to signal an end of corrective phase and return to 1.2357, low of 07Nov.
    Res: 1.2470; 1.2490; 1.2507; 1.2532
    Sup: 1.2425; 1.2417; 1.2392; 1.2357



    [​IMG]GBPUSD
    Cable came under increased pressure and accelerated lower after corrective attempts stalled at 1.5940 zone. Fresh weakness took out Fibonacci support at 1.5720, as well as 1.57, round-figure support, confirming resumption of larger downtrend from 1.7189. The pair rides on the third wave, which commenced from 1.6522 lower top and is looking for next targets at, 1.5385/75, 100% expansion/ Fibonacci 76.4% of 1.4812/1.7189 ascend. Corrective attempts should hold below 1.5800/30, previous low / 61.8% of the fall from 1.5940, to keep bears intact.
    Res: 1.5700; 1.5760; 1.5788; 1.5830
    Sup: 1.5650; 1.5611; 1.5550; 1.5505


    [​IMG]USDJPY
    The pair resumes an uptrend, after brief consolidation and establishes above 116 handle. Overall bullish tone favors fresh gains which are looking for 117.95, Oct 2007 high and 120.12, Fibonacci 61.8% of long-term 147.68/75.55 descend, where strong resistance zone starts. The pair is looking for the third weekly positive close, which reinforces strong bull-trend. Initial support lies at psychological 116 level, ahead of 115.50, hourly higher base and 114.90, correction low, above which corrective actions should find support.
    Res: 116.62; 117.00; 117.50; 117.95
    Sup: 116.00; 115.40; 114.90; 114.62



    [​IMG]AUDUSD
    The pair remains in near-term uptrend from 0.8539 low of 07 Nov, with strong barrier at 0.8760 lower platform / near Fibonacci 61.8% of 0.8909/0.8539 descend, capping advance for now. Yesterday’s Doji confirms hesitation, with further consolidation expected to precede fresh attempts at 0.8760 breakpoint, clear break of which to open the next breakpoint at 0.89 lower platform zone. Dips below 0.87 handle, should be contained at 0.8650, 50% of 0.8539/0.8762 upleg / daily Tenkan-sen line, to keep near-term bulls in play
    Res: 0.8700; 0.8743; 0.8762; 0.8800
    Sup: 0.8650; 0.8625; 0.8590; 0.8550
     
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