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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 29, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro remains well supported, as the price continues to channel higher and approaches next target at 1.3300, with weekly close just under the barrier. Friday’s Doji would signal further consolidation, before the price resumes larger rally that commenced from 1.2754, 09/07 low and targets 1.3414, 18/19 / 06 peaks. Positive technicals remains supportive for final push higher, with 1.3250/00 zone offering initial support and expected to protect the downside.

    Res: 1.3300; 1.3325; 1.3400; 1.3414
    Sup: 1.3250; 1.3220; 1.3200; 1.3164



    Cable ended Friday’s trade with Doji candle, as the price moved within 1.5350/80 consolidative range. However, positive tone dominates on lower timeframes studies and favors further upside. Clear break above 1.5400 barrier that was cracked on spike to 1.5433, is required to open 1.5476, 26/06 high and psychological 1.5500 barrier. Positively aligned daily studies are supportive, with Friday’s low at 1.5354, reinforced by 20DMA, offering initial support, ahead of psychological 1.5300 handle. Only loss of last week lows at 1.5262, would delay bulls.

    Res: 1.5402; 1.5433; 1.5476; 1.5489
    Sup: 1.5350; 1.5327; 1.5300; 1.5262



    The Dollar/yen ended week in red, after repeated failure to hold gains above psychological 100 level, triggered fresh weakness. Friday’s extension lower that broke below 98.22, previous low, probed below 98.00 support. This completed daily failure swing and opens way for broader weakness. Break below important supports at 97.65/58, 50% retracement of 93.78/101.52 ascend / daily Ichimoku cloud base, is required to confirm bearish resumption from 101.52 and 100.85 highs and open 97.00, round-figure support and 96.74, Fibonacci 61.8% retracement, as daily indicators are attempting below their midlines. Negative tone prevails on lower timeframes, with the downside being favored, however, bears may be interrupted by corrective rally on oversold conditions.

    Res: 98.33; 98.70; 99.00; 99.38
    Sup: 97.62; 97.22; 96.95; 96.74



    The pair ended week during which the pair tested both, 0.9000/0.9300 near-term range borders, with positive tone prevailing on a bounce towards the upper boundary. Friday’s trading was seen as consolidation under the range top, as the price held above 0.9200 support. Positively aligned short-term studies keep the upside focused, with clearance of 0.9316/43 barriers, required to confirm bottom and commence recovery phase. Conversely, repeated upside rejection would signal further sideways trading and increase downside risk, if price falls below 0.9200/0.9150, Fibonacci 38.2% / 50% of 0.8997/0.9316 range.

    Res: 0.9286; 0.9316; 0.9343; 0.9400
    Sup: 0.9226; 0.9200; 0.9167; 0.9127


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