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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jun 30, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro returned to the positive tone, closing for the week at the weekly high and starting the new week in the same attitude. As the price cracks the previous peak, with linear regression line being broken, scope is seen for final push through 200SMA at 1.3669 and completion of 1.3676/1.3511 descend, break above which to confirm base at 1.35 zone and trigger stronger correction of larger 1.3990/1.3502 bear-leg. Bullish near-term studies support the notion, with bull-trendline, drawn off 1.3511, offering initial support at 1.3630, ahead of 1.3600, round figure / Fibonacci 38.2% and higher base / 50% of current rally / linear regression channel support at 1.3580, above which corrective actions should find support.

    Res: 1.3652; 1.3676; 1.3700; 1.3730
    Sup: 1.3630; 1.3600; 1.3580; 1.3573



    Cable maintain overall positive tone and trades near recent peak at 1.7061, in a consolidative action, which is expected to precede fresh rally. Studies are positively aligned and support further upside, however, further hesitation ahead of final push higher cannot be ruled out, as daily studies are extended. Break above 1.7061 to open psychological 1.7100 barrier, with 1.7331, 50% retracement of larger 2.1161/1.3501, 2007/2009 descend, expected to come in near-term focus. Psychological level and higher low at 1.7000, offers initial support, ahead of recent range floor at 1.6950, where the downside attempts should be ideally contained.

    Res: 1.7049; 1.7061; 1.7100; 1.7150
    Sup: 1.7000; 1.6950; 1.6920; 1.6900



    The pair remains under pressure and continues to travel south after losing near-term bases at 101.80/70 and 101.59, 12 June low/ 200SMA support. Probe below 101.41, 29 May higher low marked full retracement of 101.41/ 102.78 upleg with bearish resumption expected to open psychological 101 support and short-term range floor levels at 101.81/74 for retest. Negative studies on lower and larger timeframes support the notion for final push lower and break below multi-month congestion. Previous supports at 101.59/80 zone, now offer immediate barriers, ahead of lower tops at 102.15/18, which are expected to cap stronger corrective attempts.

    Res: 101.48; 101.59; 101.73; 101.86
    Sup: 101.10; 101.00; 100.81; 100.74



    The pair hovers near fresh high at 0.9443, on recovery rally from 0.9350 higher base / trendline support, but still unable to clear barrier. Further consolidation is seen likely, as fresh easing weakens hourly studies, before bulls re-assert for eventual push higher and break above near-term congestion, for resumption of larger uptrend, towards 0.9500, initial barrier. Pullback below psychological / Fibonacci 38.2% retracement of 0.9352/0.9439 upleg, confirms scenario, however, dips should be contained above 0.9352, range bottom, to avoid deeper pullback and introduce bears into near-term picture.

    Res: 0.9429; 0.9460; 0.9500; 0.9526
    Sup: 0.9385; 0.9350; 0.9320; 0.9300


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