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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 13, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro nearly fully recovered yesterday’s losses, when the price accelerated lower after losing 1.3620/00 support. Sharp fall found support at 1.3561, Fibonacci 61.8% retracement of 1.3482/1.3682 rally, with subsequent bounce to 1.3636 so far, marking 61.8% retracement of two-legged descend from 1.3682 to 1.3561. Hourly studies are weak, while 4-hour indicators stand at their midlines. Regain of yesterday’s high at 1.3651 is required to confirm reversal and avert risk of lower top formation and fresh slide, as the price broke above bear-trendline off 1.3680 peak. Initial support at 1.3600, Fibonacci 38.2% of 1.3561/1.3636 upleg and hourly 10/20 SMA’s bull-cross, should ideally contain corrective dips. Break above 1.3651 to confirm higher low at 1.3561 and re-focus peaks at 1.3680 zone. Alternatively, loss of 1.36 handle would keep near-term bears in play. Next supports lay at 1.358 higher base / daily Tenkan-sen and key level at 1.3561, yesterday’s low.

    Res: 1.3651; 1.3682; 1.3700; 1.3738
    Sup: 1.3600; 1.3580; 1.3561; 1.3530

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    GBPUSD

    The pair maintains bullish near-term structure, with eventual break above psychological 1.66 barrier, signals attempt for full retracement of 1.6668/1.6250 bear-leg. As the price regains the last hurdle at 1.6623, the way opens towards 1.6668, year-to date high and break here to trigger resumption of multi-month uptrend from 1.4812, 2013 low, towards next hurdles at 1.6737/45, 2011 peaks. Positive near-term studies are supportive, with hesitation on approach to the key barrier at 1.6668, seen on overbought lower timeframes studies. Key near-term supports lay at 1.6500/1.6480 and should contain any stronger pullbacks.

    Res: 1.6668; 1.6700; 1.6737; 1.6745
    Sup: 1.6600; 1.6570; 1.6534; 1.6500

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    USDJPY

    The pair remains within near-term consolidative range, with near-term studies losing traction, as the price cracked the range floor at 102 zone, following repeated upside rejection at 102.69. Hourly indicators moved into negative territory, with 4-hour studies losing momentum that keeps the downside at risk. Firm break below 102 handle, also 38.2% retracement of 100.74/102.69 corrective rally, would further weaken the structure for extension towards supports at 101.50, Fibonacci 61.8% and 101.20 higher low, to confirm lower top formation. On the upside, clearance of initial 102.69 barrier and regain of 102.92/103.07 hurdle is required to neutralize and signal resumption of near-term recovery rally from 100.74 low.

    Res: 102.20; 102.69; 102.92; 103.09
    Sup: 101.95; 101.75; 101.50; 101.20

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    AUDUSD

    The pair fell sharply after losing 0.9000 handle, with acceleration lower, finding support at 0.8926, where daily 55SMA contained fall, keeping important 0.8900 support, higher platform / Fibonacci 38.2% retracement of 0.8658/0.9066 rally intact for now. Near-term studies are weaker, however, bulls are still present on 4-hour chart studies that keeps larger picture bullish outlook intact for fresh attempt higher. Bounce requires regain of 0.9000 barrier, also 50% of entire 0.9066/0.8926 fall, to avert downside risk and confirm higher low at 0.8926. Conversely, loss of 0.89 handle, would further weaken near-term tone and signal further correction, with next good support laying at 0.8870, 05 Feb higher low / daily Tenkan-sen / Kijun-sen bull-cross.

    Res: 0.8980; 0.9000; 0.9033; 0.9066
    Sup: 0.8926; 0.8900; 0.8870; 0.8824


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