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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 27, 2013.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro remains steady and eventually cleared previous high of 20/11 at 1.3577, to test psychological 1.3600 barrier. Near-term studies are bullish and support further rallies, as the price continues to trend higher above hourly bull trendline off 1.3398 higher low. The third wave that commenced from 1.3398, could extend to initial barrier at1.3626, Fibonacci 61.8% retracement of 1.3831/1.3294 descend and 1.3688, Fibonacci 100% expansion of the up wave from 1.3398. Daily close above 1.3577 is required to confirm scenario. On the downside, initial support lies at 1.3557, session low / bull trendline off 1.3398, ahead of 1.3520, 26/11 higher low / Fibonacci 38.2% of 1.3398/1.3598 and 1.3500, round-figure support and 50% retracement, where stronger pullback should be contained.

    Res: 1.3600; 1.3645; 1.3626; 1.3688
    Sup: 1.3557; 1.3520; 1.3500; 1.3489

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    GBPUSD

    Cable regained strength and focuses upper range levels, after pullback from 1.6239 found support at 1.6135 zone, where higher platform was created. Break above psychological 1.6200 barrier, looks for retest of 1.6239 and key hurdles at 1.6254/59 in extension. Positive near-term studies support the notion, with 1.6200 zone, session low / 26/11 intraday high and Fibonacci 38.2% of 1.6137/1.6229 upleg, offering solid support. Only extension below here and 1.6180, 50% retracement, would soften near-term tone.

    Res: 1.6229; 1.6239; 1.6254; 1.6259
    Sup: 1.6200; 1.6180; 1.6144; 1.6132

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    USDJPY

    The pair trades in near-term consolidative mode, after posting fresh high at101.90 yesterday, with the downside being protected by initial support at 101.00, 22/11 higher low and Fibonacci 38.2% of 99.56/101.90 upleg. Fresh rally from 101.13, yesterday’s low, improves hourly structure, as 4-hour studies remain positive and keep the upside focused. Clearance of 101.90/102.00 barriers is needed to resume bulls and open 102.48/52, 28/29 / 05 highs, ahead of 103.10, Fibonacci 161.8% projection. Alternatively, loss of 101.00 would sideline near-term bulls and allow for stronger pullback towards previous highs at 100.60/42 and psychological 100.00 support in extension.

    Res: 101.90; 102.00; 102.50; 103.00
    Sup: 101.13; 101.00; 100.60; 100.42


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    AUDUSD

    The pair came under pressure and continued larger bear-trend after corrective attempt off 0.9119, 25/11 low was capped at psychological 0.9200 barrier. Fresh extension below 0.91 handle, also Fibonacci 76.4% of 0.8891/0.9755 bull-phase, looks for test of psychological 0.9000 support, also low of 12/07, below which to open way towards key short-term supports and double-bottom at 0.8891/45, 30/05 / 8 lows. Negative studies on lower and larger timeframes support the notion, with corrective rallies expected to interrupt bears. Former correction peak at 0.9200 offers solid resistance.

    Res: 0.9138; 0.9177; 0.9200; 0.9248
    Sup: 0.9087; 0.9068; 0.9036; 0.9000

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