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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 4, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro eventually broke below three-day consolidative range floor, ending near-term narrow congestion phase that resulted in three consecutive Dojis. Immediate focus shifts towards key short-term support at 1.1096, 26 Jan low, with completion of 1.1096/1.1532 consolidative phase, expected to commence fresh leg lower and open psychological 1.1000 support. Near-term bears are gaining pace, with overall negative picture, keeping the downside firmly in focus. Widening daily 20d Bollingers confirm fresh action, with former base at 1.1260, reinforced by daily 10SMA, offering good resistance and expected to ideally cap corrective rallies rallies.

    Res: 1.1176; 1.1216; 1.1243; 1.1266
    Sup: 1.1112; 1.1096; 1.1050; 1.1000



    Cable remains under pressure and continues to move lower, following break below daily 20SMA. Immediate focus turns towards pivotal support zone at 1.5320, higher base and Fibonacci 38.2% of 1.4950/1.5551 rally. Near-term technicals are negative, with daily indicators heading south and attempting at midlines, scope is seen for eventual break below 1.5320 handle to confirm reversal. Sideways-moving daily Kijun-sen line at 1.5269, is expected to come in focus on a break below 1.5320, with extended weakness, expected to target psychological 1.52 support, also daily Ichimoku cloud base. Descending daily cloud top and hourly lower platform at 1.5390 zone, offers immediate resistance, ahead of daily Tenkan-sen line at 1.5440, where corrective rallies should be ideally capped.

    Res: 1.5400; 1.5420; 1.5440; 1.5457
    Sup: 1.5320; 1.5300; 1.5269; 1.5200



    The pair bounced after pullback from 120.25 high found footstep at 119.40 support zone, reinforced by ascending daily 10SMA. Near-term tone improves, with regain of 119.90 lower top, required to confirm higher low formation and turn near-term focus towards 120.25/46 targets. However, contracting 20d Bollinger bands suggest extended consolidation, before fresh action. Overall picture remains bullish and keeps the upside favored for now. Only sustained break below 119.40/30 support zone, former lower platform and daily 10SMA / Tenkan-sen, could weaken the structure and signal further easing.

    Res: 119.90; 120.25; 120.46; 120.80
    Sup: 119.48; 119.36; 119.10; 118.66


    The pair consolidates under fresh recovery high at 0.7842, following yesterday’s rally that ended in Bullish engulfing and closed above daily 20SMA and 0.78 handle. The rally boosted near-term technicals, which are attempting above their midlines, with sustained break higher, required to confirm reversal and re-focus pivotal 0.7911, 26 Feb high and short-term consolidation range top. Fresh strength also cracked sideways-moving daily Tenkan-sen and Kijun-sen lines at 0.7824, with close above here to give another positive signal. However, narrowed daily 20d Bollinger Bands see risk of prolonged range trading, before establishing fresh direction.
    Res: 0.7842; 0.7874; 0.7911; 0.7950
    Sup: 0.7800; 0.7750; 0.7738; 0.7700


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