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Windsor Brokers - Short Term Technical Analysis for Majors (07:00 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 29, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The Euro holds above 1.3000 but still directionless, moving within 1.2950/1.3100 range. Slight improvements seen on overnight’s gap-higher opening and upside aligned hourly studies, keep the immediate barrier at 1.3100 in near-term focus. Break above 1.3100, also 4h triangle resistance, would avert the downside risk, in favor of extension towards next barrier at 1.3127, 19 Apr high, to confirm near-term base at 1.2950 and possibly re-open key 1.3200 resistance. Psychological 1.3000 support keeps the near-term price action supported for now, with any penetration lower, to weaken the structure.

    Res: 1.3076, 1.3092, 1.3127, 1.3142
    Sup: 1.3030, 1.3000, 1.2987, 1.2950



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    GBP/USD

    Cable maintains positive tone, as fresh gains through psychological 1.5500 barrier that kept last week’s rally capped, now open way for fresh bulls. Immediate barrier lies at 1.5570, 100 day MA, ahead of 1.5605, 50% retracement of 1.6380/1.4830 downleg. Short-term studies remain positive but overbought that may signal hesitation on approach to the next targets. Previous peak and last Friday’s low at 1.5410/17 zone, offer solid support and should contain corrective dips.

    Res: 1.5550, 1.5570, 1.5605, 1.5629
    Sup: 1.5510, 1.5479, 1.5417, 1.5410


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    USD/JPY

    The pair remains under pressure, as last Friday’s fresh weakness and weekly close below 98.00 handle and overnight’s extension to 97.34, Fib 61.8% of 95.80/99.87 upleg, confirm near-term bears being in play. Corrective rally on oversold hourlies, faces initial resistance s at 98.00/30, with previous low and 50% retracement of 99.74/97.35 at 98.50, reinforced by 20/55 day EMA’s, bearish crossover seen as ideal cap. With near-term structure being negatively aligned, further downside is seen favored after the correction, with 97.20/00 seen as next targets. Conversely, extension above 98.50 would ease bear-pressure, however, regain of 99.00 barrier is required to shift focus higher and re-expose recent highs and psychological 100 barrier.

    Res: 98.00, 98.30, 98.50, 98.82
    Sup: 97.35, 97.20, 97.00, 96.75


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    AUD/USD

    The pair regained positive tone after upside rejection at 1.0335 and subsequent pullback found support at 1.0260. Fresh strength that surged through 1.0300 barrier overnight and approach of 1.0335/38 double-top, sees scope for extension of near-term recovery rally from 1.0220 low, with clear break above 1.0338 required to confirm and open immediate targets at 1.0357, 19 Apr high / Fib 38.2% of 1.0581/1.0220 fall and 1.0400, 14 Apr high / 50% retracement. Hourly structure remains positive, while 4h indicators are breaking above their midlines.

    Res: 1.0336, 1.0357, 1.0400, 1.0443
    Sup: 1.0300, 1.0261, 1.0230, 1.0220


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