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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 7, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    Finally EURUSD manages to achieve a daily high yesterday above 1.3300 resistance reaching 1.3323. Since then it retraced 45 pips to 1.3280. The outlook remains bullish as long as trading is maintained above 1.3230 with key target 1.3345 in sight (31 July high).

    The pair is supported after a round of upbeat economic data including a climb in German manufacturing orders in June and a narrower contraction in Italy’s GDP in the 2nd quarter

    Res: 1.3415, 1.3380 1.3345, 1.3320
    Sup: 1.3230, 1.3190, 1.3165, 1.3145



    With multiple attempts by the cable to continue its uptrend, it managed to achieve a new high of 1.5390, however we didn’t see candles close above 1.5375 resistances on the H1 chart to consider it broken so the resistance level still holds. Prices did drop after that to 1.5315 and found support there as was expected

    At 09:30 am GMT Bank of England Governor will hold a press conference along with the release of the Inflation Report

    Res: 1.5530, 1.5475, 1.5430, 1.5375
    Sup: 1.5315, 1.5250, 1.5180, 1.5100



    Sharp moves on the Yen breaking 3 supports during yesterdays and today’s trading. The 130 pip drop broke supports 97.82, 97.60, and 97.20 to achieve a low at 97.08. They key support it managed to break was 97.60 which it failed to do multiple times to do during 29th – 31st July period. Currently it’s trading at lowest price since 25th Jun

    Asian stock markets traded broadly lower Wednesday after overnight losses in the U.S. on monetary-policy concerns, with Japan taking an especially heavy hit from gains for the yen

    Res: 100.00, 99.15, 98.80, 98.15
    Sup: 96.80, 96.20, 95.75, 94.80



    We see a triple top at key psychological resistance level 0.9000 proving itself a difficult barrier for the current uptrend on the H1 chart. This failure rise caused the RSI to form a downward trend line indicating a loss of buying momentum. However prices are still above 55 moving average and daily pivot point 0.8900

    The Aussie on Tuesday briefly fell after the Reserve Bank of Australia cut its key interest rate by a quarter-percentage point to 2.5%, but it bounced off intraday lows, with some analysts saying the bank’s statement carried a less-dovish tone

    Res: 0.9100, 0.9075, 0.9045, 0.9000
    Sup: 0.8900, 0.8845, 0.8810, 0.8760,



    The break of 1283 support indicated the strength of the current downtrend from 1348 (24th July) to current low of 1273. This leaves 1270 and 1260 targets within reach. Gold prices extended declines into a seventh consecutive day today as the outlook for US Fed monetary-stimulus tapering strengthened.

    Res: 1348, 1331, 1320, 1300
    Sup: 1270, 1260, 1250, 1243


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