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Technical Outlook for Majors 13/02/2015

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 13, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    [​IMG]EURUSD
    The Euro eventually broke above daily 20SMA, following triple Doji, with fresh advance sidelining near-term bears. Pivotal Fibonacci 61.8% of 1.1532/1.1268 barrier, has been cracked that signals possible attack at key 1.1497/1.1532 highs. Positive setup of near-term MA’s and indicators, supports the notion, with initial barriers at 1.1470/82, Fibonacci 76.4% / daily Kijun-sen, being in focus. However, overbought hourly conditions suggest consolidation ahead of fresh attempt higher. Psychological 1.14 level offers immediate support, with 1.1378/60 zone, Fibonacci 38.2% of 1.1278/1.1440 upleg and former consolidation tops / 50% retracement, expected to contain dips. Higher base at 1.1260 marks key near-term support and break here to neutralize freshly established bulls.
    Res: 1.1440; 1.1470; 1.1500; 1.1532
    Sup: 1.1400; 1.1378; 1.1360; 1.1340


    [​IMG]GBPUSD
    Cable is poised for the third positive weekly close that would signal reversal from fresh low at 1.4950.Yesterday’s strong rally, which closed above previous tops / Fibonacci 61.8% barrier at 1.5350/30 and daily 55SMA at 1.5380 and penetrated daily cloud base, confirms higher base at 1.52 zone, for further advance. Fibonacci 76.4% of 1.5618./1.4950, at 1.5460, marks next target, with key barriers at 1.5606, daily cloud top and 1.5618, 31 Dec 2014 lower top, being in focus. Overall bullish tone supports the notion, with corrective action on overbought near-term studies, expected to find support above 1.53 handle, to keep fresh bulls intact.</p>Res: 1.5417; 1.5460; 1.5500; 1.5550
    Sup: 1.5378; 1.5337; 1.5312; 1.5287


    [​IMG]USDJPY</p>The pair fell sharply yesterday, after bulls stalled at 120.46, posting low at 118.39, just ahead of 09 Feb higher low and daily 10SMA / Kijun-sen line that provide support for now. Negative tone has been established on lower timeframes studies, with penetration of daily cloud top and daily indicators starting to point lower, keeping the downside at risk. The pair is poised for a weekly Doji that would question previous week’s rally and shift focus lower again, in case of further easing. Loss of 118.25/15, daily 20SMA / Kijun-sen, to confirm bullish resumption. Otherwise, expects extended consolidation while the latter hold. Daily close above 119.50, mid-point of yesterday’s descend, to bring more positive tone
    Res: 119.15; 119.50; 119.86; 120.36
    Sup: 118.39; 118.15; 117.58; 117.15



    [​IMG]AUDUSD
    The pair averted immediate risk of retesting key support at 0.7624, as bounce from yesterday’s low at 0.7642, brought the price above the mid-point of near-term range, between 0.7624 and 0.7874. However , improved hourly studies are for now offset by negative structure of 4-hour studies and overall bearish tone. Daily 10SMA offers resistance for now and daily close above, would keep positive near-term tone and shift focus towards range’s upper boundary, reinforced by descending daily 20SMA.
    Res: 0.7790; 0.7840; 0.7874; 0.7900
    Sup: 0.7722; 0.7700; 0.7667; 0.7642
     
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