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Technical Outlook for Majors 25/09/2014

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 25, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro came under increased pressure, with fresh acceleration lower, taking out key supports and near-term targets at 1.2800, round-figure, 1.2786, Fibonacci 61.8% of 1.2042/1.3992 ascend and 1.2754/44, 07 July/03 Mar 2013 higher base. Immediate focus turns towards 1.2675, 200% Fibonacci expansion of the wave from 1.3699 and 1.2660, Nov 2012 low. Bearish stance is confirmed by Gravestone Doji, posted on 23 Sep and yesterday’s close in red. Today’s close below 1.2744, to confirm further weakness in the near term. Previous lows at 1.2815/32, offer initial resistances, ahead of yesterday’s high at 1.2862. Extended corrective attempts should not exceed 22 Sep rejection point and lower top at 1.2900 and 1.2937, broken bull-trendline off 1.2060, Nov 2012 low.
    Res: 1.2782; 1.2815; 1.2832; 1.2862
    Sup: 1.2700; 1.2675; 1.2660; 1.2600

    [​IMG]GBPUSD</p>Cable loss traction after acceleration lower lost 1.6342 support, Fibonacci 38.2% of 1.6050/1.6522 and bull-trendline off 1.6050. Slide below psychological 1.63 level and 1.6284, low of 19 Sep, being cracked, see increased downside risk. Clear break here to confirm lower top at 1.6411 and completion of 4-hour failure swing, which would trigger more significant pullback towards 1.6231, Fibonacci 61.8% and 1.62, psychological support. Near-term studies are turning negative, while bears remain in play on daily studies, which signals possible end of corrective phase from 1.6050 low. Alternative scenario requires return to1.64 zone to neutralize immediate downside risk.
    Res: 1.6360; 1.6413; 1.6437; 1.6479
    Sup: 1.6274; 1.6244; 1.6231; 1.6200

    The pair continues to trade in near-term consolidative range, under 19 Sep fresh high at 109.42. Consolidation 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 turned positive, as the price regained 109 handle and moves towards range’s upper boundary and larger picture bulls remain unobstructed, despite overextended conditions. Round-figure 109 level, offers immediate support, ahead of 108.72, hourly 20/55 bull-cross, which is expected to keep range’s lower boundary protected.
    Res: 109.32; 109.42; 110.00; 110.66
    Sup: 109.00; 108.72; 108.44; 108.23

    [​IMG]AUDUSD</p>The pair remains under pressure and probes below psychological 0.88 support, towards initial target at 0.8783, Fibonacci 76.4% expansion of the wave from 0.9110 lower top. Violation of the latter would drive the price towards 0.8682, 100% Fibonacci expansion, with full retracement of 0.8958/ 0.9503 ascend, seen as likely scenario, as bears prevail on all timeframes. Initial barriers lay at 0.8895/0.8925, with stronger corrective attempts to be ideally capped under psychological 0.90 barrier.
    Res: 0.8895; 0.8925; 0.8950; 0.9000
    Sup: 0.8783; 0.8750; 0.8700; 0.8682

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