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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EUR/USD

    The Euro remains in a free fall that commenced on yesterday’s repeated rejection at 1.3414 and accelerated post Fed. Losses were interrupted by overnight’s 1.320601.3300 correction, with fresh weakness under way and looking for test of 1.3200 and 1.3176 higher platform / Fib 38.2% of 1.2795/1.3414. Break here is required to confirm reversal and top at 1.34 zone, and open way for more significant correction of 1.28/1.34 upleg. Negative near-term studies keep the downside focused, with corrective bounces seen on oversold conditions. Overnight’s high at 1.3300 offers solid resistance, while only break above 1.3350 zone, would put bears on hold.

    Res: 1.3260, 1.3300, 1.3320, 1.3350
    Sup: 1.3200, 1.3176, 1.3104, 1.3052



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    GBP/USD

    Cable remains under heavy pressure, as completion of 4h failure swing on a break below 1.5564 previous low, accelerated bears. Dips extended below 38.2% of 1.5007/1.5751 ascend at 1.5467 and heading towards psychological 1.5400 support and 1.5380, 50% retracement, next targets. Near-term bears are fully in play, with pause in descend, expected from oversold hourly studies. Previous base and support at 1.55, reinforced by falling 20 day EMA now offers good resistance, ahead of strong 1.5554/64 zone, 50% retracement of entire fall / 18 June low, expected to cap any stronger rally


    Res: 1.5500, 1.5525, 1.5554, 1.5564
    Sup: 1.5425, 1.5400, 1.5380, 1.5350


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    USD/JPY

    The pair extends strong rally that commenced from 95.00 support, with brief pause seen under 97.00, yesterday’s high. Fresh acceleration that cleared next barrier at 98.00, looks for test of 98.75, 50% retracement of larger 103.72/93.78 fall and 99.00/27, round figure / 10 June high, on extension. Near-term technicals maintain firm bullish tone, with possible interruption in the rally to be triggered by overbought 1 and 4h chart conditions. Previous highs at 97.00 zone offer solid support and should contain any stronger pullback.

    Res: 98.40, 99.00, 99.27, 99.80
    Sup: 97.35, 97.00, 96.70, 96.20


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    AUD/USD

    The pair remains under strong pressure, as sharp fall from yesterday’s upside rejection at 0.9555 accelerates below psychological 0.9200 support. Bears remain unobstructed and further extension lower would look for 0.9141, Fib 38.2% of larger 2008/2011 0.6007/1.1079 ascend and psychological 0.9100 support. Brief pauses in current fall, could be expected on oversold conditions, yet no signal of reversal being generated on near-term studies. Initial resistance reinforced by 20 day EMA, lies at 0.9300 zone, ahead of previous low at 0.9324.

    Res: 0.9200, 0.9238, 0.9300, 0.9324
    Sup: 0.9141, 0.9100, 0.9050, 0.9000


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