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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 18, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro accelerated lower post Fed and erased gains of corrective 1.2858.1.2993 rally, with lower top left at 1.2993. This confirms 1.30 zone as strong barrier, as break below previous low at 1.2858, shifts focus towards 1.2800, round-figure support and short-term targets at 1.2786, Fibonacci 61.8% retracement of 1.2042/1.3992 and 1.2750 higher base. Near-term technicals turned bearish and support the notion, with corrective attempts off fresh session lows, ideally to be capped at 1.29 zone, near 50% of 1.2978/1.2832 downleg.

    Res: 1.2888; 1.2900; 1.2920; 1.2942
    Sup: 1.2852; 1.2832; 1.2800; 1.2786



    Cable remains steady and returns to 1.63 zone, which was broken on yesterday’s extension to 1.6356. Subsequent corrective action found support at 1.6245, to signal an end of corrective action and fresh attempt higher, which would look for clearance of 1.6380, daily 20SMA and levels above 1.64 barrier, Fibonacci 61.8% of 1.6642/1.6050, to confirm recovery. Near-term studies hold positive tone and support scenario, however, negative larger picture technicals and yesterday’s Doji candle, require caution, as failure to regain fresh highs and weakness which would violate 1.6245 support, would signal an end of corrective phase and shift near-term focus lower.

    Res: 1.6356; 1.6380; 1.6416; 1.6464
    Sup: 1.6245; 1.6200; 1.6159; 1.6100



    The pair resumes larger rally after completing near–term consolidation phase, with fresh strength of the dollar, establishing the price above 108 level. Fresh bulls are approaching initial 109 barrier, ahead of next levels at 109.50 and psychological 110.00, en-route towards 110.66, Aug 2008 peak. Overbought near-term studies suggest corrective action ahead of fresh rally. Higher lows at 107 zone, should ideally contain pullbacks.

    Res: 108.85; 109.00; 109.50; 110.00
    Sup: 108.36; 108.00; 107.58; 107.28



    The pair’s hourly structure returned to bearish mode, after recovery rejection at 0.9110 and fresh weakness, which again took out psychological 0.9000 support. With 4-hour and daily studies maintaining negative tone and yesterday’s long red candle, focus remains firmly lower. Fresh leg lower, which commenced from 0.9110 lower top, could travel to 0.8848, its Fibonacci 61.8% expansion, initially, with extension to 0.8682, 100% expansion, to signal possible full retracement of 0.8658/0.9503 ascend.

    Res: 0.9000; 0.9020; 0.9045; 0.9082
    Sup: 0.8937; 0.8900; 0.8848; 0.8800


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