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Technical Outlook for Majors 28/04/2015

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 28, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    [​IMG]EURUSD
    The Euro made three consecutive positive daily closes, marking four daily higher highs, on extension of the uptrend from1.0660 higher base. Yesterday’s fresh probe above psychological 1.09 barrier, peaked at 1.0925 and closed for the second day within daily cloud, following consolidation around cloud base at 1.0850. Near-term technicals maintain positive tone, with daily indicators breaking into positive territory and daily 20d Bollinger bands expanding and signaling further bullish extension. Descending daily 55SMA reinforces initial barrier at 1.0825, yesterday’s peak, above which to focus upper Bollinger band at 1.0990 and psychological 1.1000 barrier, ahead of key resistances at 1.1034/50, 06 Apr / 26 Mar former double top. Corrective easing should be ideally contained above 1.0818, yesterday’s lows and near Fibonacci 38.2% retracement of 1.0664/1.0925 rally, to keep near-term bullish structure intact. Key support lies at 1.0766, daily 10/20SMA’s bull cross, also Fibonacci 61.8% retracement and break here to sideline near-term bulls.
    Res: 1.0898; 1.0925; 1.0990; 1.1000
    Sup: 1.0858; 1.0818; 1.0782; 1.0764


    [​IMG]GBPUSD</p>Cable continues to trend higher, with yesterday’s extension above Friday’s high / daily 100SMA at 1.5185, posting fresh high at 1.5259. Strong bullish tone dominates on all timeframes and suggests further action higher, with key short-term barrier at 1.5551, high of 26 Feb, coming in near-term focus. Five consecutive positive daily closes, mainly in long green candles, defines strong uptrend, with the second wave off 1.4854, 21 Apr low, looking for its 100% Fibonacci expansion at 1.5343. Overbought conditions of 4-hour studies, suggest corrective action in the near-term, with strong support at 1.5105, yesterday’s low and Fibonacci 38.2% retracement of 1.4854/1.5259 upleg, expected to contain dips.
    Res: 1.5259; 1.5318; 1.5343; 1.5370
    Sup: 1.5216; 1.5185; 1.5105; 1.5080


    [​IMG]USDJPY
    The pair consolidates around initial support at 119 zone, daily cloud base, following yesterday’s recovery rejection under descending 20SMA at 119.42 and subsequent easing to 118.89, where the pullback found footstep. Yesterday’s positive close eases immediate downside pressure, however, long upper shadow of yesterday’s daily candle, shows strong selling interest. Negatively aligned near-term technicals keep the downside at risk, with extension below 119 handle and violation of yesterday’s low at 118.76, seen as a trigger for fresh attempt at key 118.52/31 support and resumption of larger downmove from 120.08, on violation of the latter. Conversely, break above 119.42, yesterday’s recovery high and daily 20SMA at 119.53, to neutralize and shift focus towards key near-term barrier at 120.08.
    Res: 119.42; 119.53; 119.76; 120.08
    Sup: 118.90; 118.76; 118.52; 118.31


    [​IMG]AUDUSD
    The pair remains well supported and extends bull-leg off 0.7681, 21Apr higher low, after eventual break and close above pivotal 0.7841 barrier, high of 17 Apr. Today’s fresh extension higher cracks descending daily 100SMA at 0.7882, on approach to psychological 0.79 barrier, also Fibonacci 76.4% expansion of the wave from 0.7681, higher low of 21 Apr that marks the last obstacle on the way towards key short-term barrier and breakpoint at 0.7936, 24 Mar high. Strong bullish tone dominates on all timeframes and supports further upside, as the pair made four consecutive positive daily closes. Break above pivotal 0.7936 barrier, to open next target at 0.7971, 100% Fibonacci expansion, ahead of psychological 0.80 barrier. Session low at 0.7832, along with previous peak at 0.7841, should ideally contain corrective dips.
    Res: 0.7903; 0.7936; 0.7971; 0.8000
    Sup: 0.7857; 0.7832; 0.7790; 0.7763</p>
     
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