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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 19, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro stabilizes above 1.35 handle that now acts as initial support and being reinforced by daily cloud top. Extension higher bring next resistances at 1.3546, 06/11 high and 1.3563, 50% retracement of 1.3831/1.3294 fall / daily 20DMA in focus, as break here is required to confirm near-term bottom at 1.3294 and trigger further retracement of 1.3831/1.3294 descend towards 1.3600, psychological barrier. Below 1.35, bullish 20/55DMA’s crossover at 1.3480, offers next support, with bull trendline off 1.3294, reinforcing higher platform support at 1.3430.

    Res: 1.3546; 1.3563; 1.3600; 1.3626
    Sup: 1.3500; 1.3480; 1.3430; 1.3400

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    GBPUSD

    Cable steadies above 1.6100 handle, after hitting fresh high at 1.6147, with consolidative phase within 1.6100/30 range under way. Positive tone prevails on 4-hour hour chart and keeps further upside favored, however, neutral hourly conditions, see further consolidation as likely scenario. Below 1.6100, next supports lay at 1.6080, 20DMA; 1.6050 higher platform and psychological 1.6000 support / 50% retracement of 1.5853/1.6147 upleg / daily cloud base, seen as ideal reversal point in case of deeper pullback. Upside targets at 1.6200 and key 1.6254/59 hurdles remain in near-term focus.

    Res: 1.6128; 1.6147; 1.6159; 1.6200
    Sup: 1.6100; 1.6080; 1.6050; 1.6000


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    USDJPY

    The trades in near-term corrective phase off fresh high at 100.42, with fresh extension below 100 support and 99.75, broken bear-trendline, testing levels below 61.8% retracement of 99.09/100.42 upleg at 99.60 zone. Hourly studies turned negative and favor further downside, while overall positive tone sees current pullback as corrective phase of larger uptrend, with higher low seen above strong 99.00 support, to precede fresh leg higher. Regain of 100.42 to open 100.60 and 101 in extension. Only loss of 99.00 handle, higher low of 13/11 and 50% retracement of 97.61/100.42 rally, would neutralize bulls and allow for stronger pullback.

    Res: 99.91; 100.19; 100.42; 100.60
    Sup: 99.56; 99.40; 99.00; 98.80


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    AUDUSD

    The pair remains supported, as fresh strength emerged from 0.9351, session low and corrective phase bottom and broke above previous high at 0.9417. With 0.9437 barrier, Fibonacci 61.8% retracement of 0.9541/0.9269 descend being cracked, the way is open towards 0.9477, 76.4% retracement and psychological 0.9500 barrier, with key resistance and breakpoint at 0.9541, expected to come in focus, once the price regains 0.9500 handle. Positively aligned near-term studies support the notion, however, negative daily picture would keep the downside risk in play as long as 0.9541 barrier stays intact.

    Res: 0.9477; 0.9500; 0.9541; 0.9571
    Sup: 0.9417; 0.9385; 0.9351; 0.9330

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