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Daily Technical Outlook for Majors 26/09/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 26, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro maintains negative sentiment, with yesterday’s probe below 1.27 support, leaving fresh low at 1.2696. Corrective bounce is not expected to show stronger attempts higher, as near-term technicals remain negative and favor fresh weakness and attack at 1.2675/60 targets, Fibonacci 200% expansion of the wave from1.3699, 01 July lower top and Nov 2012 low. Break and weekly close below the latter, would signal extension towards 1.2042, low of July 2012. Near-term price action moves between hourly Tenkan-sen line at 1.2732, which offers initial support and hourly Kijun-sen line at 1.2748, immediate resistance. Break here to open 1.2800/20, 50% and 61.8% of 1.2900/1.2696 downleg, with break higher to delay immediate bears.
    Res: 1.2760; 1.2800; 1.2820; 1.2862
    Sup: 1.2732; 1.2700; 1.2675; 1.2660

    [​IMG]GBPUSD</p>Cable hovers around psychological 1.63 level, following yesterday’s weakness, failing for now to sustain break below 1.6284 trough, which was required to confirm bearish resumption. Studies on lower timeframes are negatively aligned and see the downside favored, with the notion being supported by 24 Sep Inside Day candle. However, close below 1.6284 handle, would confirm bears taking control for extension towards .6231, Fibonacci 61.8% and 1.62, psychological support. Conversely, rally above 1.6375, broken bull-trendline off 1.6050 low and regain of 1.64 resistance area, is expected to revive near-term bulls.
    Res: 1.6339; 1.6375; 1.6413; 1.6437
    Sup: 1.6284; 1.6244; 1.6231; 1.6200

    The pair continues to trade in near-term consolidative range, entrenched between 19 Sep fresh high at 109.42 and range floor at 108.23. Consolidative action is expected to precede fresh attempt higher, which focuses short-term targets at psychological 110 and 110.66, Aug 2008 peak. Studies on lower timeframes are gaining traction after yesterday’s dip to 108.46, with break above 109 barrier, re-focusing range’s upper boundaries.
    Res: 109.35; 109.42; 110.00; 110.66
    Sup: 108.87; 108.46; 108.23; 108.00

    The pair continues to trend lower, with psychological 0.88 support being taken out. Bears are fully in play for eventual push towards key 0.8658, low of 24 Jan, for full retracement 0.8658/0.9503 ascend. Interim supports lay at 0.8700 and 0.8682, Fibonacci 100% expansion, of the third wave from 0.9110 lower. The wave could travel to 0.8519, its 138.2% expansion, once 0.8658 is broken, however, oversold daily studies suggest a pause in the downmove. Psychological 0.90 level, offers solid resistance and should keep the upside attempts limited.
    Res: 0.8820; 0.8850; 0.8895; 0.8925
    Sup: 0.8700; 0.8682; 0.8658; 0.8600

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