1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 10, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:

    The Euro is near-term corrective mode after fresh bears broke below 1.2930, 1.2660/ 1.2754 bull-trendline and extended under 1.29 handle, to reach fresh low at 1.2858. Recovery action was supported by yesterday’s positive close, however, no significant upside action would be expected, as long as 1.2987, yesterday’s high and psychological 1.30 barrier stay intact. Hourly studies gained traction, while 4-hour structure remains weak, along with overall negative picture, which keeps focus at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform.

    Res: 1.2977; 1.2987; 1.3000; 1.3044
    Sup: 1.2858; 1.2800; 1.2786; 1.2750



    Cable consolidates recent losses and shows near-term basing attempt at fresh lows, just ahead of psychological 1.6000 support. Upside heading near-term indicators are supportive for stronger corrective action, which was signaled by oversold daily conditions and yesterday’s Doji candle. Confirmation of such scenario requires today’s positive close. Initial resistance lies at 1.6185, 08 Sep intraday high, ahead of more significant 1.6230, week’s high, clearance of which to accelerate attempts of Monday’s gap filling and regain of pivotal 1.6330 lower top. Otherwise, narrow consolidation would be expected to precede eventual attack at 1.60 support.

    Res: 1.6185; 1.6230; 1.6280; 1.6300
    Sup: 1.6057; 1.6000; 1.5967; 1.5900



    The pair remains well supported and continues to trend higher, with near-term price action establishing above 106 handle. Fresh gains post new 4-year highs, with upside targets at 107.20, Fibonacci 138.2% projection of the upleg from 100.81 and 108.28, Fibonacci 161.8% projection. Further gains are expected to open Sep 2008 high at 109.10, and lower top at 110.66, posted in Aug 2008. Initial supports lay at 106.00 and 105.70, where dips should ideally find footstep. Otherwise deeper pullback is expected to threaten 105.40, Fibonacci 61.8% of 104.67/106.55 and psychological 105 support, in extension.

    Res: 105.70; 106.00; 106.20; 106.50
    Sup: 106.00; 105.70; 105.00; 104.70



    Near-term structure remains bearish, with increased pressure eventually pushing the price through near-term bases at 0.9237 and 0.9200, as well as 0.9180, Fibonacci 38.2% retracement of 0.8658/ 0.9503 ascend/200SMA. This confirms an end of short-term congestion and further reversal off 0.9503 peak. The price is now looking for extension towards 0.9100, round-figure support and 0.9080, 50% retracement, ahead of 0.9050, weekly Ichimoku cloud base. Overall bearish structure supports the notion, with corrective attempts to face 200SMa as initial resistance, ahead of former bases at 0.92 and 0.9237.

    Res: 0.9180; 0.9200; 0.9217; 0.9237
    Sup: 0.9100; 0.9080; 0.9050; 0.9000


Share This Page