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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, May 20, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The single currency remains under pressure, as last Friday’s fall dipped briefly below 1.2800 handle. Subsequent bounce still stays capped at initial 1.2850 barrier, previous lower base and 55 day EMA. With hourly studies heading higher and 4h studies being overextended, further recovery is possible, however, clearance of 1.2900 zone, 50% of 1.3027/1.2795 fall, is seen as minimum requirement to signal near-term basing attempt and allow for stronger recovery, where next barriers at 1.2950 zone will come in focus. Overall negative tone doesn’t see much of upside prospect in the near-term, as daily studies turned bearish and while price holds below 1.2950/1.3000, previous range floor / 200 day MA.

    Res: 1.2850, 1.2888, 1.2900, 1.2930
    Sup: 1.2818, 1.2795, 1.2750, 1.2744


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    GBP/USD

    Cable consolidates recent losses that dipped to 1.5157 so far, with 1.5200 limiting the upside for now. Fresh bear-leg that commenced on upside rejection at 1.5321, could extend to 1.5125, Fib 61.8% of 1.4830/1.5603 upleg and 1.5100, round figure support, initial targets, as pivotal 1.5200 support has been lost and near-term top at 1.5600 zone confirmed. Negative near-term studies keep the downside favored, with limited corrective actions expected to stay under 1.5300 barrier.

    Res: 1.5205, 1.5262, 1.5300, 1.5330
    Sup: 1.5171, 1.5157, 1.5125, 1.5100


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    USD/JPY

    Overall bullish structure remains intact for now, despite overnight’s gap-lower opening and spike low near 102.00 support. Bounce back towards 103.00 barrier, kept positive near-term structure, however, failure to fill the gap, would keep the downside at risk, with good support laying at 102.50, Fib 38.2% of 101.25/103.28 upleg / 55 day EMA, loss of which to confirm further corrective action. Conversely, break above 103.00 barrier, would focus last Friday’s fresh high at 103.28 and signal resumption of broader uptrend.

    Res: 102.93, 103.12, 103.28, 103.50
    Sup: 102.50, 102.00, 101.90, 101.73


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    AUD/USD

    The Aussie starts the week with slight positive tone and bounces off last Friday’s fresh low at 0.9709. recovery was so far limited under the next barrier at 0.9800, reinforced by descending 55day EMA that keeps upside prospects under question mark. Overall bearish tone still keeps the downside in focus, with key target at 0.9579, May 2012 low, however, bears may be interrupted by corrective action, as hourly indicators are heading north and 4h / daily studies are oversold. Such scenario requires break above initial 0.9800 barrier and regain of the next one at 0.9900, to confirm near-term recovery under way and avert immediate downside risk.

    Res: 0.9789, 0.9810, 0.9881, 0.9915
    Sup: 0.9737, 0.9709, 0.9662, 0.9600


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