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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Jul 24, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro establishes below 1.35 handle and continues to move lower after closing below pivotal support and brief consolidation, which occurred before fresh push lower. Overall bearish structure keeps the downside focused, with immediate target at psychological 1.34 level and 1.3294, 07 November 2013 higher low, seen in extension. Corrective rallies on oversold conditions are expected to pause descend. Consolidative range high at 1.3472, offers immediate resistance, ahead of 1.35, previous base and broken bull-trendline at 1.3530, while lower top at 1.3547, is expected to cap rallies.

    Res: 1.3472; 1.3500; 1.3530; 1.3547
    Sup: 1.3436; 1.3400; 1.3350; 1.3294



    Cable maintains negative near-term tone and continues extend descend off 1.7189 peak, after breaking below 1.7034 18 July low. Upside attempts were capped at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are bearish and support further downside, with consolidative actions seen preceding fresh push lower. Alternative scenario requires, clear break above 1.71 handle to avert immediate downside risk.

    Res: 1.7081; 1.7100; 1.7115; 1.7148
    Sup: 1.7020; 1.7000; 1.6950; 1.6933



    The pair trades in near-term sideways mode after recovery phase off 101.05 low was limited at 101.59. Repeated upside failure weakens hourly structure, while 4-hour tone is negative. Upside resumption requires lift above initial 101.59 barrier and pivotal lower tops at 101.78/85, to bring bulls fully in play, otherwise increased downside risk could be expected on a loss of initial 101.30 support, also near-term consolidation floor. Break lower to re-focus strong 101.05 and

    Res: 101.59; 101.78; 101.85; 102.00
    Sup: 101.30; 101.18; 101.05; 100.81



    The pair moves higher and eventually broke above 0.9454, 10 July spike high, retracing over 76.4% of 0.9503/0.9327 descend. This opens way for final push towards key 0.9503 barrier and peak of 01 July, clearance of which to signal an end of corrective phase and resumption of larger uptrend. Consolidative/corrective action s on overbought near-term studies are expected to precede fresh push higher, with dips to be ideally contained at 0.94 handle, to keep bulls intact.

    Res: 0.9498; 0.9503; 0.9550; 0.9600
    Sup: 0.9417; 0.9400; 0.9378; 0.9358


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