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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Nov 19, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro regained positive tone in the near-term picture, following yesterday’s positive close, which occurred above 1.25 handle. Bounce from 1.2442 hourly higher base, peaked at 1.2544, Fibonacci 76.4% of 1.2576/1.2442 upleg, capped by descending daily 20SMA and bear-trendline off 1.2884 peak. Daily MACD/RSI bullish divergence still signals further upside which requires sustained break above the trendline resistance and 1.2576, 04/17 Nov peaks, to spark stronger recovery. Otherwise, prolonged range-trade, with downside risk seen on violation of 1.25 support, could be expected in the near term.

    Res: 1.2546; 1.2576; 1.2610; 1.2683
    Sup: 1.2510; 1.2480; 1.2442; 1.2425



    Cable came under pressure and fully reversed 1.5591/1.5734 corrective rally, on renewed probe below 1.56 handle. Negative tone prevails on all timeframes and favors eventual clear break below 1.56, to open way towards next target at 1.5375, Fibonacci 76.4% of 1.4812/1.7189 ascend. However, hesitation at psychological support cannot be ruled out, as near-term studies are approaching oversold territory. Rallies through initial 1.5700 barrier, to face strong resistance at 1.5734, corrective peak and just above 38.2% retracement of 1.5939/1.5591 descend. Only break here and 1.58 barrier, also 61.8% of 1.5939/1.5591 descend, would delay and signal near-term base formation.

    Res: 1.5700; 1.5734; 1.5765; 1.5800
    Sup: 1.5623; 1.5590; 1.5550; 1.5500



    The pair remains firm and posts fresh multi-year highs, after clearing psychological 117 barrier. Yesterday’s positive close, with past two days candles with longer lower shadow, confirm strong bullish tone, which focuses immediate target at 117.95, Oct 2007 peak and psychological 120 barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend, expected to come in near-term focus, previous peaks at 117 zone, offer immediate support, with 116.30/00 zone expected to ideally contain dips.

    Res: 117.95; 118.50; 119.00; 119.60
    Sup: 117.00; 116.80; 116.30; 116.00



    The pair remains under pressure and probes below 0.8646/36 higher low / 61.8% retracement of 0.8539/0.8794 corrective rally, after completion of hourly H&S pattern. Negative near-term structure favors further weakness for full reversal of the rally, seen on clear break below 0.8636. Next supports lay at 0.86, round-figure and 0.8589 trough, below which way opens towards key 0.8539, 07 Nov low. Yesterday’s positive close so far looks like a pause in the downmove and only daily close above 0.8745 lower platform would sideline immediate downside risk.

    Res: 0.8646; 0.8680; 0.8700; 0.8745
    Sup: 0.8620; 0.8600; 0.8589; 0.8539


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