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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 30, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro erased last Friday’s gains, after rally stalled near 1.3567 peak and subsequent reversal dipped close to 1.3500 handle. Negative sentiment was confirmed by gap-lower opening, with price moving in the lower part of 1.3460/1.3567, one-week range. Hourly studies turned negative and keep the downside at risk, while 4-hour indicators are at the midlines. Bearish trigger will be seen on violation of strong 1.3460 / 50 support zone, where the range floor is reinforced by 55DMA and double Fibonacci, 23.6% retracement of 1.3103/1.3567 upleg and 50% of 1.3337/1.3567, as break here is expected to confirm double-top formation and open fresh leg lower towards 1.3400, round figure / 38.2% of 1.3103/1.3567 next. Conversely, bounce above 1.35 barrier, would avert immediate downside risk and signal continuation of sideways trading.

    Res: 1.3505; 1.3522; 1.3536; 1.3563
    Sup: 1.3476; 1.3461; 1.3450; 1.3425



    Cable remains firm, as fresh extension higher completed near-tern 1.6161/1.5953 corrective phase. The price posted marginally fresh high at 1.6179, with positively aligned near-term technicals being supportive for possible attack at psychological 1.6200 barrier. However, overbought conditions on lower timeframes studies, see corrective pullback preceding fresh rally, with initial support at 1.6130, Friday’s intraday high / 23.6% of 1.5953/1.6179, ahead of 1.6100, 38.2% retracement / 26/09 high / 55DMA, seen as ideal reversal point. Overbought daily studies, however, require caution.

    Res: 1.6179; 1.6200; 1.6250; 1.6300
    Sup: 1.6130; 1.6100; 1.6060; 1.6028



    The pair remains under pressure, as repeated failures to clear 99.00 barrier and trendline resistance, extended bears through triangle support at 98.47and previous low at 97.75. The fall retraced 61.8% of 95.78/100.60 rally, keeping the downside in near-term focus. Negative near-term studies and gap-lower opening today, maintain the pressure, with daily indicators breaking into negative territory, supporting the notion. Next supports lay at 96.90 higher platform and Fibonacci 76.4% and 96.80, 28/08 low, while initial barriers lay at 98.00/30 zone.

    Res: 98.00; 98.30; 98.50; 98.80
    Sup: 97.62; 97.00; 96.90; 96.80



    The Aussie remains at the back foot, as the price continues to move lower, with psychological 0.9300 support being cracked on extension to 0.9280, Fibonacci 38.2% of 0.8891/0.9526. Prevailing negative tone on near-term studies keeps the downside at risk, with extension below strong 0.9220/00 support zone, higher platform / 50% retracement, to confirm near-term top and allow for further easing. Initial barriers lay at 0.9330 zone, while only regain of 0.9400 handle, would ease immediate bear pressure.

    Res: 0.9330; 0.9373; 0.9400; 0.9455
    Sup: 0.9280; 0.9222; 0.9200; 0.9134


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