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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 6, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro picks up the pace at the beginning of European session and breaks above two-day congestion under 1.3100 barrier. Prevailing positive tone keeps the upside potential for full retracement of 1.3241/1.2795 descend in play, with interim barriers standing at 1.3136, Fib 76.4% retracement and psychological 1.3200, near 08 May high. Previous top at 1.3075, reinforced by hourly 20 day EMA, offers immediate support, ahead of psychological 1.3000, also 55 day EMA, where any dips should be ideally contained.

    Res: 1.3136, 1.3193, 1.3200, 1.3241
    Sup: 1.3100, 1.3075, 1.3042, 1.3000



    Cable continues to trend higher, as the latest upleg from 1.5270 higher low, cleared 1.5375/1.5400 hurdles and heads north. Immediate target lies at 1.5462, Fib 76.4% of 1.5603/1.5007 descend and is the lat barrier on the way towards 1.5600 zone, key near-term barrier and beginning of May highs. Near-term studies hold positive tone, however, overbought 1 and 4h reading may delay bulls in favor of corrective pullback. Previous barriers at 1.5400/1.5375, now offer initial supports.

    Res: 1.5462, 1.5478, 1.5500, 1.5520
    Sup: 1.5400, 1.5375, 1.5330, 1.5300



    The pair fully retraced near-term corrective phase from 98.85 that was capped at 100.40. Renewed weakness below 100.00 psychological support, sees increased downside risk for further extension of pullback from 103.72 high, with Fib 50% of 92.56/103.72 at 98.14, and psychological 98.00 support, seen on a break below 98.85 low. Consolidative phase is under way, with rallies expected to hold below 100.00 barrier and keep bears intact. Only break of 100.40 tops, would signal double-bottom and possible stronger recovery.

    Res: 99.50, 99.85, 100.00, 100.40
    Sup: 99.00, 98.85, 99.50, 99.14



    The remains under strong pressure, as fresh weakness emerged from the upside rejection at 0.9790, broke below previous low at 0.9527and posted fresh low at 0.9433. Larger bears from 1.0581 remain unobstructed for now and eye the next static support at 0.9382, October 2011 low, with interim support seen at 0.9400. Corrective bounce on oversold near-term studies, do not see much of the upside potential for now, with rallies expected to find solid resistance at 0.9550/0.9600 zone, before bears return to play.

    Res: 0.9500, 0.9530, 0.9550, 0.9600
    Sup: 0.9433, 0.9400, 0.9382, 0.9350


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