1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Technical Outlook for Majors 08/10/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Oct 8, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Joined:
    Feb 18, 2010
    Messages:
    948
    Likes Received:
    1
    [​IMG]EURUSD
    The Euro remains in near-term corrective phase off fresh low at 1.2499, as the price action gets congested under important 1.27 resistance zone, where daily 10SMA limited the upside attempts for now. Overall negative structure keeps immediate targets at 1.2500, 03 Oct low and 1.2464, 28 Aug 2012 low, in focus, with further downside to open 1.24, round-figure support and 1.2360, Fibonacci 261.8% expansion of extended third wave from 1.3699. Extended corrective action above 1.27 barrier would delay bears for attempts towards 1.28 barrier, Fibonacci 61.8% of 1.2993/1.2499 descend.
    Res: 1.2682; 1.2697; 1.2713; 1.2760
    Sup: 1.2620; 1.2600; 1.2580; 1.2565



    [​IMG]GBPUSD
    The pair maintains overall bearish tone, with corrective action off fresh low at 1.5950, so far unable to clearly break 1.61 barrier, 50% retracement of 1.6248/1.5950 downleg / 4-hour Kijun-sen line. This keeps recovery attempts limited for now, as 4-hour studies are still negative and hourlies are losing traction. Previous low at 1.6040, also 50% of 1.5950/1.6127 rally, offers initial support, ahead of 1.6018, Fibonacci 61.8% and psychological 1.6000 level, below which to bring bears fully in play. Conversely, sustained break above 1.61 barrier and corrective high / Fibonacci 61.8% of 1.6248/1.5950 at 1.6127/35, to signal further recovery action.
    Res: 1.6100; 1.6127; 1.6135; 1.6169
    Sup: 1.6040; 1.6018; 1.6000; 1.5950



    [​IMG]USDJPY
    The pair remains under pressure and moves lower after upside rejection 110 barrier. Fresh acceleration below pivotal 108 support, confirms failure swing formation, which could drive near-term price action further, as the fall from 110.07 peak, so far retraced nearly 76.4% of 106.80/110.07 upleg. Negative near-term studies support the notion, with daily indicators heading south and building-up bearish momentum. Near-term corrective rallies so far hold under 108.56/62, Fibonacci 38.2% of 109.89/107.74 / hourly 55SMA, with extended upside action, to be ideally capped under 109 barrier.
    Res: 108.62; 108.81; 109.00; 109.22
    Sup: 108.00; 107.74; 107.50; 107.00



    [​IMG]AUDUSD
    The pair trades in corrective phase off fresh low at 0.8641, with pivotal 0.8825 barrier, 02 Oct high, being cracked. Corrective pullback off fresh recovery high at 0.8832, was so far contained by Fibonacci 38.2% of 0.8641/0.8832 upleg, which keeps near-term bulls intact for eventual clear break and close above 0.8825 barrier, to confirm near-term base and allow for further recovery towards psychological 0.89 barrier and 0.8931, Fibonacci 38.2% of 0.9400/0.8641 descend. Alternative scenario sees near-term bulls on hold, in case the price eases below 0.8724, yesterday’s low and between 50% and 61.8% retracement of 0.8641/0.8832 upleg.
    Res: 0.8814; 0.8825; 0.8832; 0.8900
    Sup: 0.8750; 0.8724; 0.8714; 0.8700
     
Loading...

Share This Page