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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro came under increased pressure as pullback from fresh high at 1.3831 cracked strong support at 1.3740, 23/10 low / 50% retracement of 1.3649/1.3831 upleg. The fall as temporarily contained by 55DMA / 4-hour cloud top at 1.3732, however, negatively aligned near-term technicals see risk of further retracement. Clear break below 1.3740 to open strong supports at 1.37 zone and pivotal 1.3650 support, 03/10 high / 21/10 low, in extension. Corrective rallies should be capped at 1.38 zone, where yesterday’s repeated attempt higher failed, to keep near-term bears in play.

    Res: 1.3752; 1.3773; 1.3817; 1.3831
    Sup: 1.3732; 1.3710; 1.3692; 1.3650



    Cable remains under pressure, as loss of 1.61 support zone retraced over 61.8% of 1.5892/1.6254 rally. Near-term focus shifts towards the lower boundary of larger 1.5892/1.6254 range, with price approaching psychological 1.6000 support. This also marks the last significant obstacle on the way towards 1.59 base and pivotal support. Prevailing negative tone on near-term technicals keeps the downside favored, however, consolidation above 1.6000 is expected to precede fresh weakness. Previous range floor at 1.6114 and bearish 20/55DMA’s crossover at 1.6130, are expected to cap.

    Res: 1.6221; 1.6245; 1.6254; 1.6259
    Sup: 1.6022; 1.6000; 1.5977; 1.5920



    The pair remains supported and heads higher, as break above near-term congestion at 97.75 and psychological 98.00 barrier, resumes recovery rally off 96.93, 25/10 low. Technicals are positive and support further gains, with break above bear-trendline at 98.37 and regain of important 98.47, 22/10 lower top and Fibonacci 76.4% of 98.99/96.93 descend, expected to open way for final push towards key near-term barrier at 98.99, 17/10 peak. Consolidative actions on extended hourly studies, could precede fresh extension higher, with previous range top at 97.75, now offering solid support and expected to keep the downside protected. Only loss of higher platform at 97.45 would neutralize bulls.

    Res: 98.47; 98.69; 98.99; 99.12
    Sup: 98.09; 97.75; 97.45; 96.93



    The pair remains under pressure, as fresh extension from 0.9621 lower top, broke below psychological 0.9500 handle and extended losses to 0.9458, Fibonacci 61.8% of 0.9280/0.9755 rally. The price found temporary support here, as oversold near-term conditions signal corrective action before bears return to play. Negative near-term studies support the notion and keep the downside favored for extension towards strong support and base at 0.9400 zone. Corrective rallies should not exceed 0.9600 barrier, to keep near-term bears intact.

    Res: 0.9519; 0.9554; 0.9583; 0.9621
    Sup: 0.9458; 0.9424; 0.9400; 0.9388


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