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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Feb 25, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro remains unchanged despite softer tone of the dollar and holds above initial 1.13 support, after repeated probe below the handle. Yesterday’s Doji confirms indecision and keeps near-term studies in neutral mode, guarding pivotal 1.1260 higher base for now. Larger picture bears, however, remain in play, with daily 20SMA / Tenkan-sen, marking initial barriers at 1.1361/63, ahead of 1.1387, daily Kijun-sen. Only close above here would signal stronger upside attempts, to attack pivotal 1.1450 lower platform and expose key near-term barrier at 1.1532, 03 Feb correction high. Contracting 20d Bollingers support near-term sideways mode.

    Res: 1.1387; 1.1400; 1.1428; 1.1450
    Sup: 1.1355; 1.1320; 1.1287; 1.1277

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    GBPUSD

    Cable ended yesterday’s trading in Doji, confirming near-term consolidation, after repeated failures to clear pivotal 1.5478 barrier. Overall tone, however, remains bullish and keeps the upside focused, as the price broke above 1.5478/1.55 barriers, confirming an end of consolidative phase and commencing fresh leg higher. Immediate target, daily cloud top at 1.5526, has been cracked, that opens way towards lower top of 31 Dec 2014 at 1.5618. Ascending daily 10SMA, currently at 1.5413, underpins the action, with daily close above 1.5478, required to confirm bullish break.

    Res: 1.5532; 1.5585; 1.5618; 1.5680
    Sup: 1.5500; 1.5478; 1.5444; 1.5413

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    USDJPY

    The pair lost traction after break above pivotal 119.40 barrier stalled at 119.82 and subsequent quick reversal erased over 76.4% of 118.30/119.82 upleg. Near-term tone weakened on the action that left long upper shadow candle yesterday, showing increased pressure. Dips were initially contained above daily Kijun-sen line / 20SMA at 118.66/58 that comes under pressure today. Further easing and close below here, to increase risk of retesting 118.25 higher base and Fibonacci 61.8% retracement of 116.86/120.46 ascend, with upside–reversing daily cloud at 118, giving positive signal and offering solid support. Descending daily Tenkan-sen, currently at 119, offers good resistance, with close above here required to ease immediate bear-pressure.

    Res: 119.00; 119.40; 119.82; 120.00
    Sup: 118.58; 118.25; 118.00; 117.71

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    AUDUSD
    The pair extends bounce from strong 0.7740 zone, where past two-day easing found support. Break and close above daily 20SMA, triggered strong acceleration higher that regained psychological 0.79 barrier, also 23.6% of 0.8794/0.7624 descend, signaling break above near-term consolidation tops. Daily close above pivotal 0.7874 high, to signal near-term double-bottom pattern completion and stronger correction, expected on fresh acceleration higher that would open 0.8023, lower top of 28 Jan and 0.8071, Fibonacci 38.2% retracement. Bulls remain firmly in play on lower timeframes studies and along with north-heading daily indicators, support the notion. Ascending daily Tenkan-sen / 10SMA at 0.78 zone, underpin the action and are expected to protect the downside.
    Res: 0.7900; 0.7950; 0.8000; 0.8023
    Sup: 0.7861; 0.7837; 0.7800; 0.7779

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