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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Aug 28, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro regains strength in the near-term action, as corrective attempts off fresh low at 1.3149, extended to 1.3220, last Friday’s low and the first break point. Hourly studies turned positive, as the price action attempts to stabilize above 1.32 handle, with sustained break above 1.3220 barrier, also 50% retracement of 1.3295/1.3149 descend, required to improve 4-hour structure for push towards the next break point at 1.3295, 22 Aug lower top, between 50% and 61.8% of larger 1.3410/1.3149 descend. Overextended daily studies support the scenario. Conversely, failure to sustain break above 1.3200, would signal prolonged sideways trade, with downside risk in play.

    Res: 1.3220; 1.3240; 1.3261; 1.3295
    Sup: 1.3187; 1.3167; 1.3149; 1.310

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    GBPUSD

    Cable is regaining traction, as bounce off 1.6534 low probes above strong 1.66 barrier. Sustained break here is required to confirm basing attempt and further improve north-heading 4-hour studies for push towards pivotal 1.6677/85, 20 Aug lower top / 200SMA and possible extension to the key near-term barrier at 1.6735 lower platform. However, overall negative tone sees current movements as corrective action and failure to clear 1.6735 barrier, would keep in play scenario of lower top formation and subsequent fresh weakness.

    Res: 1.6605; 1.6622; 1.6651; 1.6677
    Sup: 1.6570; 1.6534; 1.6500; 1.6464

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    USDJPY

    The pair maintains overall bullish tone and enters near-term corrective phase, after fresh bulls cracked key 104.11, 04 Apr peak, the last obstacle on the way to 105.43, 02 Jan peak. Corrective easing establishes below initial 104 support, with 103.50, 22 Aug low and 103.20, Fibonacci 38.2% of 101.49/104.26 upleg, seen as next significant supports, with extended pullback to be contained above 103 zone, previous peaks and psychological support, to keep bulls in play.

    Res: 104.00; 104.16; 104.26; 104.50
    Sup: 103.67; 103.50; 103.20; 103.07

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    AUDUSD

    Near-term bulls returned to play, as the pair extended rally off 0.9237 through 0.9327/42 barriers, also penetrating daily cloud base and 55SMA, now eyeing pivotal 0.9372, lower top of 06 Aug and 50% of 0.9503/0.9237 descend. Break above here is required to confirm base at 0.9237 for more significant correction of 0.9503/0.9237 descend, with 0.94 psychological barrier / 61.8% retracement and 0.9415 lower top, seen as immediate targets. Otherwise, prolonged sideways trade could be expected in the near-term, in case of failure to break 0.9372 barrier. Previous peak at 0.9349, now acts as initial support, ahead of 0.9326 higher base/ previous range tops, where pullbacks should find solid support.

    Res: 0.9342; 0.9372; 0.9400; 0.9440
    Sup: 0.9349; 0.9326; 0.9308; 0.9290


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