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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 16, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro continues to trade in a sideways mode, capped for now under 1.2977/85 barriers, with corrective pullbacks being contained above 1.29, round-figure support / Fibonacci 61.8% of 1.2858/1.2977 corrective rally. Neutral near-term studies see scope for further consolidation, while overall negative tone, renewed with yesterday’s close in red, suggests fresh leg lower after completion of near-term consolidative phase. Strong barriers at 1.2977/85, as well as psychological 1.3000 resistance, keep the upside limited for now and only break above the latter would revive near-term bears for stronger bounce, which would sideline attempts towards short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2750 higher base.

    Res: 1.2958; 1.2977; 1.2987; 1.3000
    Sup: 1.2920; 1.2900; 1.2882; 1.2858

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    GBPUSD

    Cable’s near-term price action remains in consolidative mode, with immediate tone showing signs of weakness, as the price action moves towards the consolidation floor at 1.62 zone, after yesterday’s close in red. Recovery peak at 1.6275, has so far limited the upside action, keeping psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative.

    Res: 1.6249; 1.6275; 1.6300; 1.6338
    Sup: 1.6200; 1.6184; 1.6155; 1.6123

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    USDJPY

    The pair remains positive overall, with near-term price action moving in consolidative mode, which was signaled by yesterday’s Doji candle. Important 107 support holds for now, despite brief probe below overnight, keeping immediate focus at the upside, for test of initial target at 107.50, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, however, should be contained at 106.50/35 zone, to keep bulls unharmed.

    Res: 107.38; 107.50; 108.00; 108.28
    Sup: 106.92; 106.50; 106.35; 106.00

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    AUDUSD

    The pair maintains negative tone, with near-term corrective action off fresh low at 0.8982, being capped at 0.9050, by descending hourly 55SMA. Fresh weakness below 0.90 handle, confirms bears are in play, for fresh extension towards the next target at 0.8889, 02 Mar higher low, with full retracement of 0.8658/0.9503 ascend, being in play. Only fresh strength above 0.9050 would sideline immediate bears for stronger corrective attempt.

    Res: 0.9000; 0.9020; 0.9050; 0.9071
    Sup: 0.8980; 0.8950; 0.8923; 0.8900

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