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, Mar 9, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:

    The Euro enters near-term corrective phase above Asian fresh low at 1.0821. Acceleration higher on oversold hourly / 4-hour studies, attacks 1.09 barrier, ahead of more significant barriers at 1.0961/1.1000, former low of 26 Jan / Fibonacci 61.8% retracement of 1.1112/1.0821 descend, where extended rallies should be ideally capped. Daily / weekly close in long red candle maintains strong bearish tone, as daily Bearish momentum is building up. Near-term corrective action is expected to precede fresh push towards next targets at 1.0800 / 1.0762, psychological support / Sep 2003 low. Only close above 1.10 barrier would sideline downside risk and signal stronger corrective action.

    Res: 1.0900; 0.0961; 1.1000; 1.1031
    Sup: 1.0860; 1.0821; 1.0800; 1.0762



    Cable approached psychological 1.5000 support, on last Friday’s acceleration lower that hit fresh low at 1.5030 and left long red candles on daily and weekly chart, signaling firm bearish tone and scope for full retracement of 1.4950/1.5551 rally. Corrective rally on oversold near-term studies cracked initial barrier at 1.5100, round-figure resistance, ahead of 1.5184/94, daily Ichimoku cloud base / former higher base, where rallies should be ideally capped, before final push towards key med-term support at 1.4950, 23 Jan low. Only close above 1.5229/54 Fibonacci 38.2% of 1.5551/1.5030 downleg / last Friday’s high, would ease immediate downside pressure and allow for stronger correction.

    Res: 1.5100; 1.5153; 1.5184; 1.5200
    Sup: 1.5063; 1.5030; 1.5000; 1.4950



    The pair maintains strong bullish tone, following last Friday’s acceleration higher that broke above 120.80/121 barriers and closed at 120.70, after leaving hourly higher base at 120.60. Near-term price action trades in consolidative phase, keeping initial supports at 120.60/46, intact for now. Bullish setup of technicals, keeps the upside favored and suggests final push towards key med-term barrier at 121.83, peak of 08 Dec 2014. Initial supports at 120.60/46, session lows / 11Feb former high, should ideally contain and protect pivotal 120 support zone, near Fibonacci 61.8% of 119.36/121.27 upleg, reinforced by daily Kijun-sen line, Close below which is expected to revive bears..

    Res: 121.10; 121.27; 121.67; 121.83
    Sup: 120.60; 120.46; 120.10; 119.90


    The pair maintains overall negative tone, after Friday’s acceleration lower left long red candles on daily and weekly charts. Today’s fresh weakness and probe below 0.77 handle, suggests further easing and possible full retracement of 0.7624/0.7911 corrective rally. Asian trading was entrenched in tight Doji, showing limited upside attempts and keeping pivotal barrier at 0.7740, former base, intact for now. Stronger rallies above here and 0.78 barrier, also 50% retracement, would ease immediate downside pressure and signal prolonged range-trading.
    Res: 0.7740; 0.7770; 0.7800; 0.7858
    Sup: 0.7700; 0.7682; 0.7642; 0.7624


Share This Page