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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 13, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro trades in triangular consolidation, with near-term tone in neutral mode and the pair lacking direction. The price moves within 1.24/1.25 range, as repeated attempts higher were capped at 1.25 zone, reinforced by 4-hour 55SMA. Also, failure to clear descending daily 10SMA, keeps the downside at risk and limits upside attempts. Break above initial 1.25 barrier to open breakpoints at 1.2532/76, clearance of which is required to establish near-term bulls. Otherwise, easing below 1.2400/1.2390 support, is expected to bring bears back to play, for retest of 1.2357 low and resume larger downtrend on a break lower.

    Res: 1.2488; 1.2500; 1.2532; 1.2576
    Sup: 1.2417; 1.2392; 1.2357; 1.2300

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    GBPUSD

    Cable turned bearish in near-term picture, after yesterday’s extension of corrective rally from 1.5788 was rejected at 1.5940 and subsequent sharp reversal dipped below previous low at 1.5788. Yesterday’s close in long red candle shows strong downside pressure after unsuccessful attempt to return to pivotal 1.6000/20 barrier. Resumption of larger downtrend bring short-term targets at 1.5750, June 2013 high and 1.5720, Fibonacci 61.8% of larger 1.4812/1.7189 ascend in play

    Res: 1.5788; 1.5833; 1.5870; 1.5900
    Sup: 1.5750; 1.5720; 1.5700; 1.5675


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    USDJPY

    The pair trades in extended consolidative phase under fresh high at 116.09, posted on 11 Nov. Pullback was so far contained at 115 zone, also 50% of 113.84/116.09 upleg. Overall bullish structure favors further upside, with extension above 116.09 to open near-term targets at 117.95, Oct 2007 high and 120.12, Fibonacci 61.8% of long-term 147.68/75.55 descend. Alternative scenario requires easing below pivotal 114 support, to sideline bulls for stronger correction.

    Res: 115.87; 116.09; 116.21; 116.62
    Sup: 115.41; 115.00; 114.88; 114.62


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    AUDUSD

    The pair continues to trade in near-term uptrend from 0.8539 low of 07 Nov, with 0.8743 high being reached so far, on attempts through 0.8725/30, daily 20SMA / Kijun-sen line and 50% retracement of 0.8909/0.8539 descend. Consolidative action is expected to precede fresh attempt higher and attack at pivotal 0.8760 lower platform / near Fibonacci 61.8% retracement, clearance of which to possibly open key 0.89 resistance zone. Current consolidation floor and Fibonacci 38.2% of 0.8539/0.8743 upleg at 0.8660 should ideally hold, to prevent deeper pullback towards 0.8641, 50% and 0.8617, 61.8%. Extension below 0.8600/0.8590, to bring bears fully in play.

    Res: 0.8760; 0.8800; 0.8822; 0.8850
    Sup: 0.8700; 0.8665; 0.8641; 0.8617

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