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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 14, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro trades in corrective mode off 1.3585 higher base under formation, where a pullback from1.3649, 10 July peak, found support. The price broke above near-term range, after competing consolidative action, which was holding around 1.36 handle. Fresh rally which reversed over 76.4% of 1.3649/1.3585 downleg, sidelined near-term downside risk and turned immediate focus at the first pivotal barrier at 1.3649. Break here, also Fibonacci 61.8% of 1.3699/1.3574, is required to confirm higher base at 1.3585 and focus the next key barriers at 1.3699, peak of 01 July 2014, with 55/200SMA death cross at 1.3674, seen as additional protection of 1.3699 hurdle.

    Res: 1.3649; 1.3662; 1.3674; 1.3699
    Sup: 1.3623; 1.3600; 1.3585; 1.3574



    Cable maintains overall bullish structure, with near-term price action being in consolidative mode, which so far holds within 1.7100/1.7175 range. Studies on hourly chart turned negative, as the price holds near-the lower range boundary. Technical of 4-hour chart are neutral, favoring further directionless trading, while 1.71 handle stays intact. However, daily studies, reversing from overbought zone, require caution, as break below 1.71 handle would trigger fresh weakness signal stronger pullback, towards initial 1.7061, previous peak and psychological 1.7000 support.

    Res: 1.7149; 1.7166; 1.7177; 1.7200
    Sup: 1.7100; 1.7083; 1.7061; 1.7000



    The pair consolidates last week’s fresh weakness and extension lower, which probed 101 support area. Overall bearish structure favors eventual break below psychological 101 support and test of key supports and short-term congestion floor levels at 100.81/74, below which to resume larger downtrend off 105.43, 2013 annual high. Corrective actions face initial barrier at 101.43, ahead of 101.55, Fibonacci 61.8% retracement of 101.85/101.05 downleg, where rallies should be ideally capped. Only break above lower high at 101.85 and psychological 102 barrier, would neutralize bears.

    Res: 101.43; 101.55; 101.85; 102.00
    Sup: 101.20; 101.05; 100.80; 100.74



    The pair trades in near-term consolidative and directionless mode, after acceleration from 0.9454 spike high, found support at 0.9359. Near-term technicals are neutral and require lift above 0.9454 barrier, to confirm bullish resumption, supported by overall positive picture and eventual attack at key 0.9503 peak. Alternative scenario sees violation of initial 0.9359 handle and renewed attempt at strong support and higher base at 0.9320 zone, below which to trigger fresh extension of the pullback from 0.9503.

    Res: 0.9407; 0.9429; 0.9454; 0.9503
    Sup: 0.9375; 0.9359; 0.9339; 0.9327


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