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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 4, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro holds positive near-term tone, following yesterday’s rally that probed levels above 1.3100 barrier. Corrective easing on overbought hourlies, was so far contained by 20 day EMA and the previous top at 1.3050, however, south-heading hourly indicators do not rule out further easing, with next good support standing at 1.3000, Fib 38.2% of 1.2837/1.3106 upleg / round figure. Studies on 4h chart hold firm tone and keep the upside favored for now, with clearance of 1.3100, also daily Ichimoku cloud top, expected to open way towards 1.3200 zone, with interim barrier at 1.3136, Fib 76.4%.

    Res: 1.3079, 1.3106, 1.3136, 1.3200
    Sup: 1.3042, 1.3000, 1.2972, 1.2940



    Cable extended recovery phase from 1.5000 double-bottom on yesterday’s rally and so far reached 1.5375, Fib 61.8% of 1.5603/1.5007 descend. Bulls continue to dominate on near-term studies and see potential for further recovery through psychological l.5400 barrier, however, corrective pullback is likely going to precede fresh gains, as near-term technicals are overbought. Initial support at 1.5300 was tested so far, with extension towards 1.5230, previous high / Fib 38.2% of 1.5007/1.5375 rally, seen not harmful for near-term bulls, in case dips will find support at this area. Otherwise, break lower and potential loss of 1.5200, 50% level, would put near-term bulls on hold.

    Res: 1.5341, 1.5375, 1.5400, 1.5445
    Sup: 1.5287, 1.5235, 1.5200, 1.5147



    The pair trades in a recovery mode, following yesterday’s acceleration lower after psychological 100.00 support has been taken out. Fresh weakness extended below 99.00 figure and posted fresh low at 98.85, where fresh strength emerged. Current rally that regained levels above 100.00 barrier, would be seen as corrective, as long as previous base and 50% retracement of 102.51/98.85 fall at 100.70 caps. Violation of the latter, would be initial signal of stronger recovery. Otherwise, upside rejection below 100.700 would risk lower top and fresh extension of near-term bears off 103.72, 22 May peak.

    Res: 100.50, 100.70, 101.00, 101.40
    Sup: 100.00, 99.32, 99.00, 98.85



    The Aussie dollar eases from yesterday’s fresh high at 0.9790, posted on a strong rally that cleared initial barrier and near-term congestion top at 0.9700 zone. The pullback so far tested this support that should ideally contain and keep fresh bulls in play for possible stronger recovery. However, hourly studies are still in descending mode and further easing cannot be ruled out, with loss of 0.9669, 50% retracement of 0.9548/0.9790 upleg, seen as bearish trigger. Otherwise, the upside would remain in play, as 4h studies maintain positive tone.

    Res: 0.9736, 0.9770, 0.9790, 0.9841
    Sup: 0.9680, 0.9669, 0.9640, 0.9600


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