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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Dec 8, 2014.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro consolidates under initial 1.23 barrier, after last Friday’s sharp fall post US payroll data, when the price reached fresh low at 1.2270, followed by daily / weekly close in red. Overall tone remains bearish and favors further downside, on completion of consolidative phase. Short-term target at 1.2042, July 2012 low is focused. Corrective action above 1.2300, to expose strong barriers at 1.2360, former base and 1.2400, daily 10SMA / Tenkan-sen line, where extended rallies should be ideally capped. Only break above 1.2455, 04 Dec peak, reinforced by daily 20SMA, would sideline immediate bears.

    Res: 1.2300; 1.2340; 1.2360; 1.2400
    Sup: 1.2250; 1.2218; 1.2200; 1.2177

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    GBPUSD

    Cable came under pressure last Friday and eventually broke below strong support at 1.5590, where near-term base kept the downside protected for three weeks. Daily / weekly close in red and below 1.5590 base, supports further bears towards short-term target at 1.5373, Fibonacci 76.4% of 1.4812/1.7189, one-year rally. The third wave from 1.6522 lower top, on the price currently rides, could travel to 1.4953, its 138.2% Fibonacci expansion, once psychological 1.5000 support is taken out. Near-term bears are maintained by descending daily 20SMA / Tenkan-sen line at 1.5690 and only break here would delay bears for test of pivotal 1.5761, last week’s high.

    Res: 1.5590; 1.5621; 1.5641; 1.5690
    Sup: 1.5500; 1.5442; 1.5400; 1.5373

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    USDJPY

    The pair continues to trend higher, with last Friday’s post-data acceleration higher, closing above 121 handle and overnight’s fresh extension, approaching psychological 122 barrier. Corrective easing on overbought near-term studies, probes below initial support at 121.30, hourly higher base, for psychological 121 support and 120.87, Fibonacci 38.2% of 119.32/121.83 upleg. Correction should find support above 120.28, Fibonacci 61.8%, to keep fresh attempts higher in play. However, overextended daily studies warn of possible stronger pullback, with no reversal signals being generated yet, but bulls may be paused in case of close below 120 handle.

    Res: 121.67; 121.83; 122.00; 122.50
    Sup: 121.00; 120.87; 120.28; 120.00

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    AUDUSD

    Negative daily / weekly close keeps the pair under pressure for fresh descend below psychological 0.83 barrier, where overnight’s corrective attempts were capped. Extension of the third wave from 0.8794, through its Fibonacci 138.2% expansion target at 0.8268, now focuses 0.8178, 161.8% expansion, with psychological 0.8000 support, coming in near-term focus. Overall negative structure could be interrupted by brief corrective actions, as near-term studies are oversold. Corrective attempts above 0.83 barrier, to face 0.8415, previous low and should not exceed 0.8530, hourly lower platform, in case of extended rallies.

    Res: 0.8300; 0.8354; 0.8415; 0.8465
    Sup: 0.8200; 0.8178; 0.8122; 0.8100

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