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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 10, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro holds steady and extends recovery off 1.3573 low, approaching barriers at 1.3651, Fibonacci 61.8% of 1.3699/1.3573 and 1.3666, daily Ichimoku cloud base, ahead of 200SMA at 1.3676, where 55/200SMA death cross in forming. Positive near-term technicals favor further advance and test of these barriers, clearance of which to open pivotal 1.3699, 01 July peak and signal resumption of the uptrend from 1.35 base. Initial support lies at 1.3635, hourly 20SMA / daily Tenkan-sen line, was cracked, ahead of 1.3619, 38.2% of the rally from 1.3473 and psychological / higher base support at 1.3600, below which to bring bears fully in play.

    Res: 1.3651; 1.3666; 1.3676; 1.3699
    Sup: 1.3619; 1.3600; 1.3586; 1.3574



    Cable holds overall bullish posture, with near-term price action being in consolidative mode, trading within 1.7100/1.7175 range. Studies on 4-hour chart are neutral, while positive tone prevails on hourly timeframe, after the price rallied, following brief break below 1.71 support. Further directionless trading is seen as likely near-term scenario, while 1.71 handle stays intact. However, overextended daily conditions require caution, as fresh weakness below 1.71 handle would signal stronger pullback.

    Res: 1.7166; 1.7177; 1.7200; 1.7250
    Sup: 1.7120; 1.7100; 1.7083; 1.7061



    The pair has completed near-term corrective phase off 11.43 low, which was rejected at 101.85. Subsequent return to 101.43 level signals fresh weakness, as technicals are weak and see scope for further downside, part of larger downmove off 102.25, 03 July high. Sustained break lower to open psychological 101 support and key levels at 100.81/74, short-term congestion floor. Upside attempts should stay capped under psychological barrier / daily Ichimoku cloud base at 102.

    Res: 101.65; 101.85; 102.00; 102.19
    Sup: 101.43; 101.10; 101.00; 100.80



    Near-term recovery attempt off 0.9327 low has run out of steam at 0.9454 spike high, with subsequent fresh weakness erasing over 61.8% of entire 0.9327/0.9454 upleg. Sharp reversal weakened near-term structure, as hourly studies turned bearish and 4-hour technicals are losing traction. This would risk return to 0.9327 low, also daily cloud top, for eventual attempt at pivotal 0.9320 support, Fibonacci 61.8% of 0.9209/0.9503 ascend and short-term higher base, loss of which to confirm top at 0.9503 and trigger further easing.

    Res: 0.9390; 0.9429; 0.9457; 0.9460
    Sup: 0.9357; 0.9339; 0.9327; 0.9320



    Spot Gold holds overall positive structure and attempts at the upper boundary of 1306/1333 range. Near-term price remains supported as studies are positive and favor eventual break above 1333 peak and range ceiling, to resume larger rally off 124

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