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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 30, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro extended recovery rally to briefly break above 1.3100 handle, however, gains were limited, as the price action was capped at 1.3115, failing to clear the barrier on repeated attempt. Pullback under 1.3100, could be seen as corrective, while price holds above 1.3050 zone, 50% of 1.2989/1.3115 upleg / 20 day EMA, as 4h indicators maintain positive tone, with higher low seen as good base for possible fresh attempt above 1.3100/15, to possibly open key 1.3200 barrier. From the other side, slide below 1.3050, would risk return to 1.3000 base and keep the near-term range top intact.

    Res: 1.3100, 1.3115, 1.3127, 1.3142
    Sup: 1.3069, 1.3050, 1.3030, 1.3000



    Cable enters corrective mode, following yesterday’s rally through 1.5500 barrier that reached 1.5544 high so far. Daily close slightly below 1.5500 and fresh extension lower that tests 55 day EMA, risks deeper pullback, as hourly studies moved into negative territory. Further easing would face Fibonacci supports at 1.5444 (38.2%) and more significant 1.5410, 50% retracement of 1.5281/1.5544 rally and previous peak, loss of which to sideline near-term bulls. Studies on 4h chart are emerging from overbought zone and keep the price pressured.

    Res: 1.5500, 1.5544, 1.5570, 1.5605
    Sup: 1.5475, 1.5444, 1.5417, 1.5410



    Near-term structure remains negative, as recovery rally from 97.34, yesterday’s low, remains capped at Fib 38.2% of 99.49/97.34 fall at 98.19. Hourly studies are weak, with more negative tone seen on 4h chart, where indicators hold in the negative territory and price pressured by 20/55 EMA’s bearish crossover, that keeps the downside favored. Slide below 97.35, also Fib 61.8% of 95.80/99.87 recovery and 97.20, 17 Apr low, to open way for further extension lower, where 96.75, 76.4% / previous peak of 12 Mar, is seen as next target and breakpoint. Risk of triple top completion is still high and loss of 96.70 is to confirm.

    Res: 98.11, 98.19, 98.41, 98.70
    Sup: 97.65, 97.35, 97.20, 97.00



    The pair holds positive near-term tone off 1.0220 low, as fresh gains through 1.0335/38 resistance, cracked the next barrier at 1.0357, Fib 38.2% / daily Ichimoku cloud top and see potential for extension higher. Key near-term resistance at 1.0400, 14 Apr high / 50% retracement of 1.0581/1.0220, comes in focus, as break here is required to confirm base at 1.0220 and resume recovery. Previous barriers at 1.0335/38, now offer initial support, with dips to be ideally contained at 1.0320 zone, to keep bulls intact.

    Res: 1.0357, 1.0371, 1.0400, 1.0443
    Sup: 1.0335, 1.0320, 1.0300, 1.0261


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