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

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

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro trades in extended consolidative mode above fresh lows at1.35 zone, with near-term price action being capped under psychological 1.36 barrier. Repeated recovery failure and subsequent quick reversal, keep the price firmly within the range, with weak near-term studies holding downside pressure in play, as larger picture is also bearish. Since no significant changes happened in past few sessions, break of either side of the range is required to open fresh direction. Break below1.35 base to open the break point at 1.3475, 03 Feb higher low / main bull-trendline off 1.2042 low and trigger further extension of downmove from 1.3992. Conversely, sustained break and daily close above 1.36 barrier to break out of the current range and signal stronger rebound towards 1.3676/88, 06 June lower top / 38.2% retracement of 1.3992/1.3501 descend.

    Res: 1.3549; 1.3587; 1.3600; 1.3645
    Sup: 1.3534; 1.3511; 1.3501; 1.3475



    Cable maintain overall positive tone after denting psychological 1.70 barrier and consolidates within narrow range. Positive studies favor fresh phase higher, once the pair clearly breaks 1.70 barrier, with immediate target at 1.7041, Aug 2009 peak. However, extended consolidative action under 1.70 handle is seen as likely near-term scenario, as condition on 4-hour chart are overbought. Previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement 1.69 support, are seen as ideal points to contain corrective dips.

    Res: 1.6987; 1.7009; 1.7041; 1.7100; 1.7150
    Sup: 1.6936; 1.6919; 1.6900; 1.6844



    The pair returned to strength and rallied off 101.59 low, breaking above near-term consolidation and testing levels above 102 barrier. As recovery attempt retraced nearly 61.8% of 102.78/101.59 descend, further upside is favored in the near-term. Studies on 4-hour chart broke into positive territory and support the action, which could be delayed by pullback on overbought hourly conditions, with easing to be contained at 102 zone. Fresh strength through 102.32, Fibonacci 61.8% and 102.65, daily cloud top, to confirm bullish resumption and expose key near-term barrier at 102.78, 04 June peak.

    Res: 102.30; 102.41; 102.63; 102.78
    Sup: 102.10; 102.00; 101.86; 101.70



    The pair remains under pressure after yesterday’s acceleration lower extended and posted new low at 0.9325, where the price entered near-term consolidative phase at 50% retracement of 0.9209/0.9437 ascend and daily Kijun-sen line support. Overall negative near-term picture sees the downside favored, with loss of psychological / Fibonacci 61.8% support at 0.93, required to confirm bearish stance and near-term top at 0.9437. Alternatively, bounce above 0.9364/68, yesterday’s lower top and Fibonacci 38.2% of 0.9437/0.9325, would ease immediate bear pressure and trigger stronger recovery.

    Res: 0.9344; 0.9368; 0.9400; 0.9437
    Sup: 0.9325; 0.9300; 0.9256; 0.9228


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