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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 2, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    Yesterday’s bumpy ride, which bounced from the levels near 1.24 support and probed briefly above 1.25 barrier, ended day in Doji candle and near the mid-point of entire rally from 1.2417 to 1.2505, trading in triangular consolidation. This keeps near-term tone in neutral mode, ranging between 1.24 and 1.25 boundaries, as the price consolidates around daily 20SMA and Tenkan-sen line. Appearance of daily MACD bullish divergence is supportive for fresh attempts higher, with sustained break above 1.25 hurdle and pivotal 1.2530 high, also bear-trendline, drawn off 1.2884 high, required to shift near-term focus higher and test the upper part of larger 1.2360/1.2597 range. Otherwise, rejection at 1.25 barrier, would increase risk of retesting 1.2417/00 lows and possible return to pivotal 1.2360 support and near-term base.

    Res: 1.2480; 1.2505; 1.2530; 1.2566
    Sup: 1.2451; 1.2430; 1.2400; 1.2360



    Cable rallied strongly yesterday after brief probe below 1.5590 base. Bounce to 1.5761, near Fibonacci 76.4% retracement of 1.5823/1.5583 descend, was capped by descending daily 20SMA, which, for now, keeps pivotal 1.5800/23 barriers intact and downside risk in play. Hourly technicals are still positive and need to hold above 1.5700, session low, reinforced by daily Tenkan-sen line / 10 SMA, to keep the upside in focus, as 4-hour studies are neutral. Sustained break below 1.57 handle to increase risk of return to 1.5590 base, otherwise, fresh upside attempts will remain on the table, however, limited action is expected while 1.5823 breakpoint stays intact.

    Res: 1.5761; 1.5800; 1.5823; 1.5856
    Sup: 1.5700; 1.5672; 1.5651; 1.5625



    The pair shows positive signals, as recovery rally from yesterday’s pullback’s low at 117.85 accelerated and probes above 118.63, Fibonacci 61.8% of 119.12/117.85 descend. The pullback was contained by rising daily 10SMA / Tenkan-sen line, which keeps the structure positive, despite yesterday’s close in red, after the price cracked psychological 119 barrier. Hourly indicators are moving into positive territory, which, along with positive 4-hour studies, keeps focus at the upper targets and keeps near-term correction floor and pivotal support, intact. Break above 119.12 high to expose psychological 120 barrier, also Fibonacci 61.8% retracement of multi-year 147.68/75.55 descend.

    Res: 118.82; 119.12; 119.50; 120.00
    Sup: 118.50; 118.21; 118.00; 117.85



    The pair enters near-term corrective phase off yesterday’s fresh low 0.8415. Rally filled yesterday’s gap lower and tested pivotal barrier at 0.8538, last Friday’s high and Fibonacci 61.8% retracement of 0.8613/0.8415 downleg, break of which to spark further recovery and open 0.8613 breakpoint, 27 Nov high / daily 20SMA. Yesterday’s positive close, signals consolidation of the latest weakness from 0.88 zone, as immediate downside risk is sidelined. However, overall picture remains bearish and keeps the downside attempts favored, but bears may be further delayed in case of clearance of pivotal 0.8613 barrier.

    Res: 0.8540; 0.8567; 0.8600; 0.8613
    Sup: 0.8500; 0.8468; 0.8415; 0.8400


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