1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 12, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:

    The pair showed no significant changes during this week, trading within 1.1268/1.1358 range and price action mainly holding around magnetic 1.13 level. Near-term technicals maintain neutral tone, confirmed with repeated Dojis, while daily studies remain negatively aligned, as the price stays capped by daily 10SMA and corrective action from 1.1096, low of 26 Jan, limited by descending daily 20SMA. On the other side, fundamentals are expected to be the main trigger for fresh direction, as uncertainty about Greece continues and potential negative results may accelerate Euro towards parity level, while positive solution for the crisis would boost the pair for fresh recovery. Daily 20SMA at 1.1380, marks the first breakpoint, close above which to open recovery rejection levels and lower platform at 1.1500/30 zone and resume correction off 1.1096, on sustained break higher.

    Res: 1.1358; 1.1380; 1.1400; 1.1430
    Sup: 1.1300; 1.1268; 1.1260; 1.1222



    Cable returned back to near-term range, after yesterday’s rally through range tops at 1.5270 zone, stalled on approach to 1.53 barrier. Yesterday’s close in red confirmed false break and confirmed near-term neutral stance. Range floor at 1.52 zone is reinforced by daily 10SMA and so far holds, with break lower to confirm failure swing and trigger fresh easing towards daily 20SMA/Kijun-sen line, also 50% of 1.4950/1.5351 rally at 1.5150. Close below here to confirm near-term bears fully in play and shift focus lower. On the other side, regain of 1.53 handle, would re-focus pivotal barriers at 1.5351, 06 Feb high and 1.5363, Fibonacci 61.8% retracement of 1.5618/1.4950 descend.

    Res: 1.5275; 1.5300; 1.5351; 1.5386
    Sup: 1.5214; 1.5194; 1.5164; 1.5100



    The pair holds overall bullish tone, following yesterday’s acceleration through psychological 120 barrier that posted fresh high at 120.46. However, today’s bearish acceleration of consolidative action through initial 120 support, also broke below pivotal 119.20/00 support levels, to dip near 50% of 116.86/120.46 rally / daily Tenkan-sen line. Immediate tone weakened, despite quick recovery that needs to return above 120 handle, to neutralize increasing downside risk. Repeated break below 119.20/00, 06 Feb former high / daily cloud top, to signal stronger correction of 116.86/120.46 rally and expose next strong supports at 118.31/23, 09 Feb trough and Fibonacci 61.8% of 116.86/120.46, loss of which to confirm lower top and bring bears fully in play.

    Res: 119.73; 120.00; 120.46; 120.80
    Sup: 119.20; 118.73; 118.31; 118.00


    The pair came under pressure on negative data and accelerated lower, following yesterday’s close below four-day range floor at 0.7730. Fresh weakness approaches key support at 0.7624, 03 Feb low, to complete near-term 0.7624/0.7874 corrective phase and signal resumption of larger downtrend. Close below 0.7624 to open next target at 0.7204, Fibonacci 76.4% of 2008/2011 0.6007/1.1079 rally. Near-term studies hold firm bearish tone, however, hesitation ahead of key support could expected on oversold conditions. Former support at 0.7730, also Fibonacci 38.2% of 0.7874/0.7642 descend, now acts as strong resistance and should ideally cap corrective rallies.
    Res: 0.7700; 0.7730; 0.7760; 0.7790
    Sup: 0.7642; 0.7624; 0.7530; 0.7470


Share This Page