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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 2, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro remains weak and ticked lower, after brief corrective attempt off 1.3117 was capped at 1.3144. The pair eyes immediate target at 1.31, however, yesterday’s Doji candle may signal further consolidation ahead of 1.31 support, as daily studies are overextended, but no reversal signal being generated yet. Yesterday’s corrective high at 1.3144 offers initial resistance, along with 1.3155 zone, previous lows and Fibonacci 38.2% of 1.3219/1.3113 downleg, where corrective rallies should find good resistance, before fresh push lower. Conversely, extension through pivotal 1.3200/19 barriers would signal stronger recovery and sideline immediate bears.

    Res: 1.3144; 1.3155; 1.3194; 1.3220
    Sup: 1.3113; 1.3103; 1.3050; 1.3020

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    GBPUSD

    Near-term studies are losing initial strength, regained on a bounce off 1.6534, as the pair failed to sustain gains above the first breakpoint at 1.66 zone, as fresh weakness followed the price’s stall at 1.6642. Extension below 1.66 handle, weakens near-term structure and risks return to 1.6534 base, as reversal retraced so far over 76.4% of 1.6534/1.6642 ascend, in case near-term price action took out the last support at 1.6560. Underlying bearish tone favors fresh resumption of larger downtrend, as 20/200SMA death cross maintains the pressure. Extension below 1.6534 to open 1.6500 and higher low at 1.6464 next.

    Res: 1.6587; 1.6613; 1.6642; 1.6677
    Sup: 1.6542; 1.6534; 1.6500; 1.6464


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    USDJPY

    The pair accelerated higher, after clearing near-term top at 104.26, rallying towards psychological 105 and key short-term barrier at 105.43, 02 Jan peak. Overall bullish structure favors attempts through 105.43 and resumption of multi-year uptrend, which was interrupted by 105.43/100.74 corrective phase. However, overbought conditions on all timeframes may cause hesitation ahead of 105.43 barrier. Former resistances at 104.26/00 zone, offer initial supports.

    Res: 105.00; 105.43; 105.57; 106.00
    Sup: 104.26; 104.00; 103.80; 103.50

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    AUDUSD

    The pair lost traction and slumped below 0.93 support, after recovery attempts failed to clear pivotal 0.9372 barrier and subsequent weakness accelerated after losing important 0.9320 support and previous consolidation floor. Retracement of over 61.8% of 0.9236/0.9372 upleg, has weakened near-term structure, near-term indicators are in the negative territory. Corrective action on oversold hourlies is expected to precede fresh weakness towards higher low at 0.9268, with return to 0.9236 base, seen on extension. Alternative scenario requires lift above lower top at 0.9350, to bring bulls back in play for renewed attempts at 0.9372 barrier.

    Res: 0.9300; 0.9322; 0.9350; 0.9361
    Sup: 0.9282; 0.9268; 0.9236; 0.9200



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