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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 11, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:

    Yesterday’s Doji confirms near-term neutral mode, with price action being entrenched within 1.1268/1.1358 range. Daily 10SMA continues to cap, keeping the downside vulnerable, as 4-hour studies remain negatively aligned. End of consolidative phase and break below 1.1260 base, reinforced by Fibonacci 61.8% retracement of 1.1096/1.1532 upleg, to resume descend from 1.1532, 03 Feb correction high. Immediate targets at 1.1222, higher low of 27 Jan and 1.1199, Fibonacci 76.4% retracement, are expected to come in near-term focus and return to key support at 1.1096, low of 26 Jan, seen on further acceleration lower. Alternatively, lift above 10SMA, currently at 1.1350, to open next layer of dynamic barriers, daily 20SMA / Tenkan-sen at 1.14 zone, close above which to provide relief.

    Res: 1.1330; 1.1358; 1.1380; 1.1400
    Sup: 1.1300; 1.1268; 1.1260; 1.1222



    Cable remains in consolidative phase 1.52 handle, near double- Fibonacci support, 38.2% retracement of 1.4987/1.5351 upleg and broken 38.2% of 1.5618/1.4950 descend, where pullback from fresh correction high at 1.5351, found temporary footstep. Near-term studies are positively aligned, but lacking momentum for more significant upside attempts, with range tops at 1.5275, remaining intact for now. This suggests further consolidation, with loss of 1.52 handle, expected to weaken the structure and open daily 10 SMA at 1.5176 and 20SMA at 1.5143, loss of which to weaken the tone further and re-focus lower boundaries of former consolidation range. Alternatively, sustained break above consolidation tops at 1.5275 would improve and signal of higher base formation, for return towards pivotal 1.5351 high. Bullish resumption requires confirmation on a break above 1.5386, falling daily 55SMA.

    Res: 1.5275; 1.5300; 1.5351; 1.5386
    Sup: 1.5200; 1.5164; 1.5126; 1.5095



    The pair eventually broke above daily cloud top that capped the upside attempts for past three weeks, giving initial signal of bullish resumption of recovery from 115.83 higher low of 16 Jan. The third wave that commenced from 116.86 trough, faces immediate barrier at 119.74, Fibonacci 100% expansion, above which to open lower top at 119.95 and could extend to 120.80 lower platform, also Fibonacci 138.2% expansion. Initial support lies at 119.20, previous high of 06 Feb, with extended corrective easing, expected to be contained above 118.70, daily 55SMA, to keep bulls in play.

    Res: 119.74; 119.95; 120.80; 121.00
    Sup: 119.20; 118.70; 118.31; 118.00


    The pair remains in near-term range, holding between 0.7732 and 0.7874 boundaries, with descending daily 10SMA limiting the upside. Near-term studies are weakening, as the price returns to the lower side of the range and see risk of break below range floor, to signal an end of consolidative phase and re-focus fresh low at 0.7624, posted on 03 Feb, as overall picture remains bearish. Alternative scenario requires break above range tops and daily 20SMA, currently at 0.7918, to provide near-term relief and open way for further correction.

    Res: 0.7840; 0.7874; 0.7900; 0.7940
    Sup: 0.7746; 0.7732; 0.7720; 0.7660


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