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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Sep 30, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro trades above fresh low at 1.2662, posted yesterday, entering consolidative phase, which was signaled by yesterday’s Doji candle and close above 1.2660, Nov 2012 low. Falling hourly 55SMA limits the upside for now, as the pair failed to clearly break initial resistance at 1.2700/10 zone. Near-term studies are weak and keep the downside vulnerable, however, oversold daily conditions, suggest more significant corrective action, before fresh weakness. Bullish action through strong barriers at 1.2700/10 and 1.2753/60, Fibonacci 38.2% of 1.2900/1.2662 / 25/26 Sep lower platform, is required to confirm correction. Otherwise, violation of 1.2662 low, would open psychological 1.26 support and immediate target, for test.

    Res: 1.2713; 1.2760; 1.2780; 1.2810
    Sup: 1.2680; 1.2662; 1.2630; 1.2600



    Cable left Doji candle yesterday, confirming near-term consolidative phase above fresh low, near
    1.62 support. Overall structure is negative and favors further downside, focusing key near-term term target at 1.6000, psychological support / 50% retracement of larger 1.4812/1.7189 ascend. Descend off 1.6522, 19 Sep high, has so far retraced over 61.8% of 1.6050/1.6522, with higher low of 16 Sep at 1.6159 and 1.6050, 10 Sep low, seen as significant supports on the way towards 1.6000 target. Upside attempts were so far capped under psychological 1.63 barrier, which, along with 1.6330, Fibonacci 38.2% of 1.6522/1.6211 / 25/26 Sep lower platform, marks strong resistance. Only break above the latter would sideline bears and sparks stronger corrective action.

    Res: 1.6275; 1.6300; 1.6339; 1.6367
    Sup: 1.6211; 1.6200; 1.6175; 1.6159



    The pair consolidates fresh gains above previous congestion tops, ahead of near-term targets at psychological 110 and 110.66, Aug 2008 peak. Fresh action higher was signaled by last Friday’s bullish Outside Day, with clearance of 110.00/ 110.66, to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Psychological 109 level, offers initial support and contains for now, ahead of 108.46, 26 Sep higher low, above which extended dips should find support.

    Res: 109.73; 110.00; 110.66; 111.00
    Sup: 109.12; 109.00; 108.46; 108.23



    The pair remains negative overall, with near-term price action entering consolidative/corrective phase, above fresh low at 0.8682, also Fibonacci 100% expansion of the wave from 0.9110, on approach to key level and short-term target at 0.8658. Basing attempt is seen on hourly chart, where studies are gaining traction. The price attempts through 0.8760, Fibonacci 38.2% of 0.8886/0.8619 downleg, with break here and regain of psychological 0.88 barrier, also Fibonacci 61.8% retracement, required to pause bears for stronger correction. Otherwise, fresh bears are expected to eventually fully retrace 0.8658/0.9503 ascend, with break lower to drive the third wave off 0.9110, towards 0.8519, its 138.2% Fibonacci expansion.

    Res: 0.8765; 0.8784; 0.8810; 0.8829
    Sup: 0.8692; 0.8682; 0.8658; 0.8600


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