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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 1, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro returned to weakness after fresh acceleration lower ended near-term consolidative phase between 1.3150 and 1.3220 limits. Fresh attempts lower target immediate support at 1.31, psychological support and low of September 2013, below which opens double-Fibonacci support at 1.3020 zone, 50% retracement of 1.2042/1.3992 ascend and 138.2% expansion of the wave from 1.3699. Near-term bears continue to favor further downside, with corrective rallies on oversold conditions, expected to interrupt and to be ideally capped under 1.32 barrier. Overextended daily studies, however, warn of more significant corrective action, which requires sustained break above near-term congestion tops at 1.3220 to be confirmed.

    Res: 1.3133; 1.3150; 1.3194; 1.3220
    Sup: 1.3117; 1.3103; 1.3050; 1.3020


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    GBPUSD

    Cable near-term studies are regaining traction, as bounce off 1.6534 low attempts to sustain break above 1.66 barrier. Rallies were so far capped by descending 4-hour 55SMA at 1.6610, with break here, required to confirm basing attempt and bring bulls fully in play for push towards pivotal 1.6677/, 20 Aug lower top / 20/200SMA death cross 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: 1.6651; 1.6677; 1.6685; 1.6735
    Sup: 1.6585; 1.6560; 1.6534; 1.6500


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    USDJPY

    The pair remains in near-term corrective phase, off fresh high at 104.26, posted on 25 Aug, after fresh bulls cracked key 104.11, 04 Apr peak, the last obstacle en-route to 105.43, 02 Jan peak. Corrective easing found support at 103.50, 22 Aug low, ahead of fresh attempt through 104 barrier. This keeps near-term bulls in play for eventual push through 104.26, 25 Aug fresh high, to resume larger bulls towards psychological 105 barrier and key resistance at 105.43, 02 Jan peak. Today’s gap-higher open, confirms bullish stance, with corrective easing, expected to be ideally contained at 104.00/103.80 zone.

    Res: 104.20; 104.26; 104.50; 105.00
    Sup: 104.00; 103.80; 103.50; 103.20


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    AUDUSD

    Near-term bulls remain in play, as the pair tested pivotal 0.9372 barrier, lower top of 06 Aug and 50% of 0.9503/0.9237 descend. Consolidative phase so far found support at 0.9320, Fibonacci 38.2% of 0.9237/0.9372, keeping immediate focus at the upside. Break above 0.9372 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, with bearish tone to be established in case of loss of 0.93 support.

    Res: 0.9361; 0.9372; 0.9400; 0.9440
    Sup: 0.9320; 0.9300; 0.9288; 0.9268


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