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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 26, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro has ended 10-day recovery phase after yesterday’s rally eventually left 1.36 zone and probed above 1.3642, 19 June peak. Final push is expected to extended corrective leg off 1.35 base and regain key 1.3676 barrier, 06 June peak. Completion of 1.3676/1.35 bear-phase is required to signal stronger reversal and correction of 1.3992/ 1.3500 descend. Positive tone, prevailing on lower timeframes studies, supports the notion. Break below immediate support and minor higher base at 1.3636 will face strong support at 1.36 higher base / 50% retracement of 1.3563/1.3650, where dips should be contained, to keep near-term positive structure intact.
    Res: 1.3650; 1.3676; 1.3700; 1.3730
    Sup: 1.3600; 1.3582; 1.3572; 1.3563



    Cable consolidates the pullback off 1.7061 peak which broke below psychological 1.70 support and found temporary support at 1.6950. Near-term studies hold neutral tone as the price moves within 50-pips range and recovery so far being capped at 1.70, now reverted to resistance and the notion being confirmed by yesterday’s Doji candle. Unless the price clearly breaks above 1.70 hurdle and confirm higher low formation, ahead of renewed attempt higher, risk would exist for fresh weakness through 1.6950, towards downside break points at 1.6920 and 1.6900, loss of which to trigger stronger pullback.

    Res: 1.7000; 1.7029; 1.7061; 1.7100
    Sup: 1.6950; 1.6920; 1.6900; 1.6836



    The pair remains at the back foot and broke below near-term bases at 101.80/70, to eventually test 101.59, 12 June low/ 200SMA. Weak near-term studies see risk of full retracement of 101.41/ 102.78 upleg, with extension below 102.41 handle, expected to open short-term range floor levels at 101.81/74 for retest. Weakening daily studies support the notion, while only regain of 102.15/18 highs would ease immediate bear pressure.

    Res: 101.86; 102.00; 102.18; 102.35
    Sup: 101.59; 101.41; 101.10; 101.00



    The pair bounces off fresh low at 0.9352, where pullback from 0.9443 peak found footstep at 38.2% of 0.9209/0.9443 ascend. Regain of 0.94 handle firmed hourly studies for possible fresh attempt towards 0.9443, in case the price action sustains break. Also, 4-hour studies are attempting at their midlines and being supportive for further upside action, while price floats above 0.94 handle. Otherwise risk of return to initial 0.9350 support, also trendline support and extension to 0.932 higher base, would remain in play while the price unable to clearly break 0.94 zone . Overall picture, however, remains bullish and sees scope for further upside after completion of near-term consolidative phase off 0.9443 peak.

    Res: 0.9413; 0.9429; 0.9460; 0.9500
    Sup: 0.9393; 0.9350; 0.9320; 0.9300


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