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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 21, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro continues to trend lower, with fresh acceleration below 1.33 handle, testing levels below initial 1.3247, Fibonacci 38.2% retracement target. Further bears are expected to test the next targets at 1.3209/00, Fibonacci 100% expansion of the wave from 1.3699 / psychological support, below which 1.3103, September 2013 higher low, will come in focus. Oversold conditions on all timeframes, however, suggest a pause in the downtrend, with 1.33 zone offering the first significant barrier, where lower top and 38.2% retracement of 1.3397/1.3240 descend lay, ahead of previous range floor and Fibonacci 61.8% retracement at 1.3340 zone, below which, rallies should be limited.

    Res: 1.3273; 1.3300; 1.3323; 1.3340
    Sup: 1.3240; 1.3209; 1.3160; 1.3103



    Cable remains under pressure and continued the downmove, which was interrupted by yesterday’s 1.6599/1.6677, corrective rally. Fresh weakness approaches the next target at 1.6548, 04 Apr higher low, below which psychological 1.65 support and 1.6464, low of 24 Mar 2014, are expected to come in focus. The negative scenario is additionally supported by loss of 200SMA, which signals further significant losses in the near-term. Corrective rallies on oversold near-term studies should be ideally capped under 1.6677 lower top, to keep immediate bears intact, otherwise, extended corrective action is expected to delay.

    Res: 1.6600; 1.6622; 1.6651; 1.6677
    Sup: 1.6561; 1.6548; 1.6500; 1.6464



    The pair maintains positive overall tone and continues to trend higher, as fresh acceleration higher has taken out 103.75, 07 Mar high and approaches key barrier and short-term range top at 104.11, 04 Apr peak. Bulls remain fully in play and favor eventual break above 104.11, which will signal an end of short-term consolidative phase and expose year-to-date peak at 105.43, posted on 02 Jan 2014. Hesitation ahead of 104.11 cannot be ruled out, as studies are overbought on all timeframes. Previous peak at 103.07 offers solid support and should contain stronger dips.

    Res: 104.11; 104.50; 104.83; 105.00
    Sup: 103.66; 103.39; 103.07; 102.70



    The pair lost traction and slumped lower, to fully retrace 0.9237/0.9342 upleg. Former low offers temporary support for near-term consolidation, before fresh extension lower, as bears took control of near-term studies and Three Black Crows reversal pattern is nearly completed. Break below 0.9237 to confirm lower top at 0.9342, where 20/100SMA’s bearish cross capped recovery attempts and open way for final push towards key support and short-term target at 0.92 higher base zone. Corrective rallies off 0.9237, should be ideally capped at 0.9275/0.93 zone.

    Res: 0.9275; 0.9300; 0.9315; 0.9342
    Sup: 0.9237; 0.9200; 0.9180; 0.9132


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