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Windsor Brokers - Short Term Technical Analysis for Majors (07:45 GMT)

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 18, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro holds positive sentiment and bounced off 1.3840 higher base, to test levels close to fresh high at 1.3965, posted on 13 Mar. Near-term price action moves in triangular consolidation, after recovery rally stalled at 1.3946 yesterday. Triangle support lies at 1.3910, also Fibonacci 38.2% retracement of 1.3844/1.3946 ascend, ahead of higher base at 1.3880, also 61.8% retracement, above which stronger pullbacks should find ground to keep near-term positive tone in play. Fresh attempt through 1.3965 opens short-term target and psychological barrier at 1.4000 and 1.4056, Fibonacci 138.2% expansion of the wave from 1.3642, in extension. Conversely, slide below 1.3880 would delay bulls and risk retest of near-term base at 1.3840 zone and daily channel support at 1.3800.

    Res: 1.3946; 1.3965; 1.4000; 1.4056
    Sup: 1.3910; 1.3880; 1.3840; 1.3800



    Cable remains in near-term sideways mode, with price action attempting at the range’s lower boundary, as recovery attempts were capped at 1.6664, keeping immediate barriers at 1.6700/16 intact for now. Near-term studies are negatively aligned, with fresh acceleration lower, attempting below psychological 1.66 handle. Immediate focus lies at lowered range floor at 1.6566, below which to open 1.6536, 50% retracement and psychological 1.6500 support in extension and signal stronger correction of larger upleg from 1.5853 to 1.6821. Otherwise, holding above 1.6566, would signal extended sideways trading and only regain of pivotal 1.6716 barrier, to improve the structure and shift focus higher.

    Res: 1.6664; 1.6700; 1.6716; 1.6740
    Sup: 1.6566; 1.6536; 1.6500; 1.6451



    Near-term price action moves in a consolidative mode above fresh low at 101.19, after the pair fully retraced 101.19/103.75 upleg. Hourly studies turned positive, as the price approached psychological 102 barrier, where gains were capped by 4-hour 20SMA for now. On the other side, negative 4-hour studies see the action limited. Ideally, rallies should be capped under 102.50, midpoint of 103.75/101.20 descend, to keep bears intact. Break below 101.19 handle is required to open another significant support at 100.74, 03/05 Feb base and psychological 100 support in extension. Only break above 102.50 and 102.80, Fibonacci 61.8% retracement of 103.75/101.19 would improve near-term structure.

    Res: 101.93; 102.17; 102.50; 102.80
    Sup: 101.50; 101.20; 101.00; 100.74



    The pair trades in a choppy mode, with near-term structure being positive, as the price stabilizes above near-term base at 0.9000, reinforced by daily 20SMA / Tenkan-sen / Kijun-sen bull cross. Fresh bounce cracked psychological 0.9100 barrier in attempt at pivotal 0.9132 resistance, break of which to resume recovery rally from 0.8658, 24 Jan low, which is interrupted by current consolidation. Clearance of 0.9132 opens 0.9165, 10 Dec 2013 high and 0.9206, 50% retracement of larger 0.9755/0.8658 descend. Initial support lies at 0.9060, hourly 55SMA, while only loss of 0.9000 base would increase downside pressure and signal double-top formation.

    Res: 0.9108; 0.9132; 0.9165; 0.9206
    Sup: 0.9060; 0.9000; 0.8923; 0.8900


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