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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Oct 1, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro resumed its larger downtrend which was interrupted by narrow consolidation and eventually broke and close below near-term target at 1.2660, Nov 2012 low. Fresh weakness also probed below psychological 1.26 support, on a dip to 1.2569, new two-year low, with subsequent consolidation hovering around 1.26 handle. Bears remain firmly in play and favor further downside, with no significant supports on the way towards 1.2042, July 2012 low. Fibonacci 76.4% of 1.2042/1.3992 ascend at 1.2502, is seen as immediate target, ahead of 261.8% expansion of the wave from 1.3699 at 1.2360 and, low of May 2012, at 1.2287. Corrective actions are expected to find solid barriers at 1.2700/60 zone

    Res: 1.2662; 1.2700; 1.2760; 1.2810
    Sup: 1.2600; 1.2569; 1.2502; 1.2450

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    GBPUSD

    Cable’s overall structure is negative and favors further downside, focusing near-term target at 1.6000, psychological support and 50% retracement of larger 1.4812/1.7189 ascend. Descend from 1.6522, 19 Sep high, so far extended to 1.6162, retracing 76.4% of 1.6050/1.6522, coming ticks away from higher low of 16 Sep at 1.6159 and key 1.6050, 10 Sep low, the last obstacle on the way towards 1.6000 target. Corrective rallies were capped under psychological 1.63 barrier, which, should keep the upside protected. Only break above the latter would sideline bears and sparks stronger corrective action.

    Res: 1.6200; 1.6228; 1.6285; 1.6300
    Sup: 1.6159; 1.6100; 1.6050; 1.6000


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    USDJPY

    Fresh rally has eventually cracked psychological 110 barrier, en-route to near-term target at and 110.66, Aug 2008 peak. Last Friday’s Outside Day candle signaled fresh attempts higher, with clearance of 110.00/ 110.66, to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Higher low at 109.54, offers immediate support, ahead of psychological 109 level, where dips should be contained.

    Res: 110.07; 110.66; 111.00; 111.50
    Sup: 109.54; 109.12; 109.00; 108.46


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    AUDUSD

    The pair maintains negative tone and moved lower, to nearly fully retrace 0.8658/ 0.9503 rally. Fresh extension below near-term consolidation floor, weakened hourly structure, signaling further weakness below 0.8658, which is expected to open immediate targets at 0.8600, round-figure, then 0.8543, 50% retracement of 0.6007/1.1079 and 0.8519, 138.2% Fibonacci expansion of the third wave from 0.9110. The upside action so far looks limited and is expected to ideally hold below 0.87 barrier. Only break above hold below 0.8760 lower platform, would delay bears.

    Res: 0.8700; 0.8730; 0.8760; 0.8800
    Sup: 0.8661; 0.8658; 0.8600; 0.8543


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