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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 3, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro trades in near-term consolidative phase above fresh low at 1.1158, confirmed by repeated Doji. The upside remains capped at 1.1243, also Fibonacci 38.2% of 1.1378/1.1158 downleg, as barrier was re-confirmed on yesterday rally’s rejection and subsequent easing. Hourly studies are neutral, while negative setup of larger picture’s technicals maintains overall bearish structure. Key short-term support at 1.1096, 2015 low, is in near-term focus, with break here, expected to open psychological 1.1000 support for test. Descending 4-hour chart 20EMA, reinforces initial barrier, while daily 20SMA, currently at 1.1330, marks the next breakpoint, above which to re-focus the upper boundaries of short-term 1.1096/1.1532 range.

    Res: 1.1226; 1.1243; 1.1270; 1.1300
    Sup: 1.1158; 1.1096; 1.1050; 1.1000



    Cable remains at the back foot, following yesterday’s fresh easing and daily close in red. The downside is so far protected by ascending daily 20SMA, with consolidation phase under way. Near-term studies are bearish, favoring further easing that requires close below daily 20SMA, to open pivotal support zone at 1.5320, higher base and Fibonacci 38.2% of 1.4950/1.5551 rally, violation of which is required to neutralize daily bulls and open way for further easing towards 1.5269, daily Kijun-sen line and daily Ichimoku cloud base at 1.52. Conversely, break above sideways-moving daily 10SMA, currently at 1.5422, where also Fibonacci 38.2% of 1.5551/1.5350 descend lies and daily Tenkan-sen / cloud top at 1.5440/45, is required to sideline immediate downside risk.

    Res: 1.5396; 1.5422; 1.5445; 1.5457
    Sup: 1.5350; 1.5320; 1.5300; 1.5269



    The pair reverses from fresh high at 120.25, following yesterday’s rally and close above psychological 120 barrier. Immediate attacks at pivotal 120.46 barrier are put on hold, as fresh easing cracked trough at 119.65, also Fibonacci 38.2% of 118.66 / 120.25 upleg. However, former barrier, now pivotal support at 119.40, is intact for now and reversal above here is seen as ideal scenario for fresh attempts higher. Bullish setup of daily studies keeps the upside focused and only close below 119.00, daily 20SMA, would neutralize bulls and risk fresh weakness towards 118.66, daily Kijun-sen line / 50% of 116.86/120.46 rally and pivotal support at 118.25 higher base / Fibonacci 61.8% retracement.

    Res: 119.95; 120.25; 120.46; 120.80
    Sup: 119.55; 119.40; 119.27; 119.00


    The pair bounced from session lows at 0.7749, after RBA’s surprising no change decision, re-confirming strong support at 0.7740 zone and sidelining immediate downside risk. Regain of levels above 0.78 handle and sustained break above 0.7832 lower top, is required to confirm near-term recovery and shift focus towards the upside barriers at 0.7874, 06 Feb former high and pivotal 0.7911, 26 Feb correction high. Corrective dips so far hold above 0.78 handle and only break and close below here would undermine freshly established bullish tone.
    Res: 0.7840; 0.7853; 0.7870; 0.7911
    Sup: 0.7805; 0.7792; 0.7775; 0.7740


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