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Technical Outlook for Majors 11/09/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 11, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    [​IMG]EURUSD
    The Euro trades in near-term consolidative phase above fresh low at 1.2858, with hourly tone being in neutral mode, while overall sentiment remains negative. Yesterday’s corrective attempt rejection at 1.2962, under last Friday’s 1.2987 corrective low, shows the upside attempts limited for now and downside at risk, as yesterday’s trade ended in red. Near-term targets remain at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform, once bears retake full control and resume larger downtrend off 1.3992, 08 May peak.
    Res: 1.2962; 1.2987; 1.3000; 1.3044
    Sup: 1.2882; 1.2858; 1.2800; 1.2786



    [​IMG]GBPUSD
    Cable ticked higher and made positive close yesterday, as corrective attempt off fresh low at 1.6050, so far tested initial 1.6230 barrier. This supports the notion of further corrective action, which was signaled by Doji, two days ago. However, overall bearish tone sees scope for fresh leg lower, once the pair completes corrective phase. Extended correction could move through 1.63 barrier, in case of violation of the next hurdle at 1.6278, last Friday’s low and Fibonacci 38.2% of 1.6642/1.6050 descend, with upside ticks expected to hold below 1.6416, Fibonacci 61.8% retracement.
    Res: 1.6230; 1.6278; 1.6300; 1.6338
    Sup: 1.6155; 1.6123; 1.6050; 1.6000



    [​IMG]USDJPY
    The pair continues to trend higher, with fresh bullish extension, cracking psychological 107 barrier, ahead of the immediate target at 107.20, Fibonacci 138.2% projection of the upleg from 100.81. The pair is looking for extension towards 108/110 zone in the near-term, with corrective pullbacks expected to interrupt rallies. Initial supports lay at 106.50 and 106.00, hourly higher base, which is expected to ideally contain dips.
    Res: 107.20; 107.50; 108.00; 108.30
    Sup: 106.50; 106.00; 105.70; 105.00



    [​IMG]AUDUSD
    The pair maintains bearish tone, as fresh acceleration through strong supports at 0.9237/00, posted fresh low at 0.9111. Yesterday’s close in red and below 200SMA, supports further descend, with corrective attempts, being capped at 0.9216. Weak near-term technicals favor retest of 0.9111, below which to open immediate targets at 0.9100, round-figure support and 0.9080, 50% retracement, ahead of 0.9050, weekly Ichimoku cloud base.
    Res: 0.9200; 0.9216; 0.9237; 0.9260
    Sup: 0.9141; 0.9111; 0.9100; 0.9080
     
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