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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 19, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro has gained traction and eventually broke above near-term congestion, also taking out psychological 1.36 barrier. The pair so far retraced 61.8% of 1.3676/1.3510 descend, on dollar-negative post-Fed acceleration. Signals of neater base at 1.35 zone, require confirmation on clearance of 1.3661/76, 20SMA / 06 June lower top, above which stronger correction of 1.3992/1.3502 descend could be anticipated. Near-term studies turned positive and support further upside, however, negative larger picture technicals require caution, in case of stall under 1.3676 and lower top formation.

    Res: 1.3645; 1.3667; 1.3676; 1.3722
    Sup: 1.3600; 1.3587; 1.3552; 1.3534



    Cable maintains overall positive tone and attempts again through psychological 1.70 barrier, after narrow-range consolidation. Positive near-term studies favor eventual break and fresh phase higher, with immediate target at 1.7041, Aug 2009 peak and 1.71 level, seen in extension. Corrective dips to face good supports at previous peaks at 1.6917/19, along with psychological/ Fibonacci 38.2% retracement, 1.69 support.

    Res: 1.7041; 1.7100; 1.7150; 1.7200
    Sup: 1.6936; 1.6919; 1.6900; 1.6844



    The pair lost traction after Fed and accelerated lower after spiking at 102.35. Fresh weakness retraced 76.4% of 101.59/102.35 upleg, signaling completion of near-term corrective phase and resumption of larger downtrend off 102.78 peak, on a break lower. Negative near-term studies are supportive, however, daily technicals are still in neutral mode and price action being underpinned by 200SMA at 101.54. Clear break here to fully establish bears for retest of psychological 101 support and key levels at 101.81/74, 21 May / 04 Feb lows and larger range floor.

    Res: 102.00; 102.30; 102.41; 102.63
    Sup: 101.70; 101.54; 101.10; 100.81



    The pair enters near-term recovery mode and eases downside pressure after acceleration lower bottomed at 0.9325, 50% retracement of 0.9209/0.9437 ascend, reinforced by daily Kijun-sen line. Swift recovery broke above psychological 0.94 barrier and nearly fully retraced corrective phase from 0.9437, which confirms higher base formation and signals resumption of the uptrend from 0.92 base, for eventual retest of key 0.9460 peak, 10 Apr high and two-month range top. Overbought hourly studies suggest consolidation around 0.9437 high, before bulls continue.

    Res: 0.9437; 0.9460; 0.9500; 0.9550
    Sup: 0.9391; 0.9364; 0.9325; 0.9300


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