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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 11, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro holds firm and consolidates recent gains off 1.31 base, trading within 1.3230/80 range. Near-term studies remain positive and favor further upside, where 1.33 comes first, ahead of 1.3320, previous consolidation floor / Fibonacci 61.8% of 1.3450/1.3103 downleg. The downside is for now protected at 1.3230, previous resistance and 55DMA, with any extension lower, expected to hold above 1.32 handle, also near 50% retracement of 1.3103/1.3381 ascend, to keep positive structure intact.

    Res: 1.3281; 1.3300; 1.3320; 1.3355
    Sup: 1.3230; 1.3220; 1.3200; 1.3190



    The pair continues to trend higher, with clearance of the last hurdle at 1.5700, approaching key short-term resistance at 1.5751. Break here is required to complete three-month corrective phase and signal break out of six-month cycle, as well as to confirm larger picture double-bottom, formed on 1.4830/12 lows. Positive near-term studies remain supportive, however, hesitation at 1.5751 hurdle may be triggered by overbought conditions. Initial supports lie at 1.5700/1.5684, with stronger pullback expected to find ground above 1.5600/1.5585, near 50% retracement of 1.5427/1.5743 rally, to keep bulls in play.

    Res: 1.5743; 1.5751; 1.5809; 1.5843
    Sup: 1.5700; 1.5684; 1.5622; 1.5600



    The pair finally cleared 100 barrier, with yesterday’s close above this level, suggesting further advance. With initial 100.44 resistance being taken out and 100.85 coming in near-term focus, extension towards key barrier at 101.52, 08/07, would be likely short-term scenario. Positive tone prevails on lower and larger timeframes studies and keeps bulls in play. Corrective dips would face immediate support at 100 level, with solid support at 99.32/00 zone, seen as ideal reversal point.

    Res: 100.60; 100.85; 101.00; 101.52
    Sup: 100.00; 99.32; 99.00; 98.53



    The Aussie remains well supported and continues to trend higher. Final push through psychological 0.9300 barrier, so far tested 0.9316, 24/07 high, cracking strong 0.9300/0.9350 resistance zone, break of which is required to confirm short-term base at 0.8846/90 lows and allow for stronger retracement of larger 1.0581/0.8846 descend. Near-term technicals are positive, with overbought 4-hour studies, suggesting corrective action, ahead of fresh attempt higher. Previous resistance at 0.9232/20, along with psychological 0.9200 level, offer good support, while only loss of 0.9100 support, also 50% retracement of 0.8891/0.9317 ascend, would bring bears back in play.

    Res: 0.9316; 0.9343; 0.9350; 0.9400
    Sup: 0.9279; 0.9232; 0.9220; 0.9200


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