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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 19, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro remains in near-term range trading, following repeated stall of attempts at 1.34 resistance zone, seen yesterday. Near-term studies weakened and trade in the range’s lower part, following pullback of 1.3398, yesterday’s rejection level and high of the day. Break of either side of the range is required to define near-term direction, with loss of range’s floor and near-term base, seen as a trigger for bearish resumption towards psychological 1.33 support and acceleration lower to expose 1.3247, Fibonacci 38.2% of 1.2042/1.3992 ascend and 1.3209, Fibonacci 100expansion of the third wave which commenced from 1.3699, 01 July lower top. Alternatively, sustained break above near-term range tops, just above 1.34 level, is required to bring bulls in play and spark stronger recovery action towards then next pivotal barrier at 1.3343, 01 Aug lower top.

    Res: 1.3365; 1.3380; 1.3398; 1.3414
    Sup: 1.3334; 1.3300; 1.3247; 1.3209

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    GBPUSD

    Cable is entrenched within narrow range in the near-term price action, after fresh bulls off 1.6655, failed to extend gains above 1.67 barrier. Overall picture remains bearish and keeps short-term downtrend intact for now. On the other side, initial signals of reversal, which came from last Friday’s Doji candle and yesterday’s gap-higher opening, so far did not materialize, as price action remains limited at 1.6736, yesterday’s high. This made hourly studies to start losing traction, with increased downside risk expected on a fresh weakness below 1.67 handle, as 4-hour technicals remain weak. Unless the price action rallies through initial 1.6755/71 barrier, previous low / Fibonacci 61.8% of 1.6843/1.6655 descend, near-term outlook will see extended sideways mode, with downside risk, as favored scenario.

    Res: 1.6736; 1.6755; 1.6771; 1.6800
    Sup: 1.6699; 1.6675; 1.6655; 1.6600


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    USDJPY

    The pair holds positive near-term tone, as the price retraced the biggest part of 102.70/102.12 corrective pullback and aims at 102.70, as initial target. Positive near-term studies support fresh attempt at 102.70, for eventual attack at pivotal 103 resistance zone, above which to expose the upper boundaries of short term range. Corrective easing ahead of 102.70 barrier, should be ideally contained at 102.40 zone, to keep near-term bulls intact.

    Res: 102.70; 102.91; 103.07; 103.42
    Sup: 102.40; 102.23; 102.12; 102.00

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    AUDUSD

    The pair remains steady and posted marginally higher high at 0.9340, after completing 0.9332/0.9296 corrective pullback. Further gains require extension above key 0.9372, 06 June lower top, to confirm near-term base for stronger correction, which would sideline larger picture bears and delay final push towards strong support and base at 0.92 zone. Near-term technicals are positive and favor further upside, with 0.93 support zone required to hold corrective dips.

    Res: 0.9340; 0.9356; 0.9372; 0.9400
    Sup: 0.9312; 0.9296; 0.9273; 0.9254


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