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 12, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
    Likes Received:

    The Euro maintains strong bearish tone, with repeated close in long red candle and today’s probe below psychological 1.05 support. Near-term focus remains at the downside targets at 1.0335, Jan 2003 low and 1.0206, July 2002 high, ahead of 1.0069, Fibonacci 76.4% retracement of larger 0.8225/1.6039 rally, with test of parity level becoming more realistic. Corrective rally on oversold near-term studies is seen preceding fresh attempts lower, as setup of daily /weekly studies remains firmly bearish. Acceleration through 1.06 barrier looks for 1.0665, hourly lower base / near Fibonacci 38.2% of 1.0905/1.0493 downleg and 1.07 zone, also 50% retracement, where rallies should be initially capped. However, oversold daily studies require caution, with close above 1.07, to signal stronger corrective action.

    Res: 1.0650; 1.0665; 1.0715; 1.0747
    Sup: 1.0578; 1.0554; 1.0493; 1.0450



    Cable remains under strong pressure after yesterday’s bearish acceleration took out key supports at 1.5000 and 1.4950, also probing below psychological 1.49 handle. Yesterday’s long red candle confirms bearish stance for eventual attack at key med-term supports at 1.4830/12, higher base of 2013. Corrective rally off fresh low at 1.4891, cracked psychological 1.50 barrier, ahead of strong 1.5030 resistance, former base and near Fibonacci 61.8% retracement of 1.5135/1.4891 downleg, where corrective rallies should be ideally capped. Otherwise, further rallies would signal prolonged corrective action. Key barrier and near-term breakpoint lies at 1.5135, lower top of 09 Mar and near Fibonacci 38.2% of 1.5551/1.4891 descend.

    Res: 1.5011; 1.5030; 1.5050; 1.5100
    Sup: 1.4953; 1.4891; 1.4850; 1.4830



    The pair remains in near-term consolidative phase under fresh high at 122.01, with corrective dips being so far contained at 120.80 zone. Former peak at 121.83, marks strong barrier and caps attempts higher. Near-term indicators are pointing lower and support further consolidation. On the other side, bulls remain intact on daily chart studies that keep focus at the upside. Correction lows at 120.80, mark initial support, ahead of 120.60 higher base and Fibonacci 38.2% of 118.29/122.01 rally, where downside attempts should be ideally contained, to avert risk of deeper pullback, expected to accelerate on close below 120.60 support.

    Res: 121.65; 121.83; 122.00; 122.50
    Sup: 121.00; 120.84; 120.60; 120.37


    Overall tone remains bearish, as yesterday’s break below 0.76 handle posted fresh low at 0.7558. Immediate bears are now on hold, as corrective bounce from 0.7558 low cracked pivotal 0.7681 lower top, also near 38.2% of 0.7843/0.7558 downleg. Extended correction through 0.7700, daily Tenkan-sen line, is expected to find strong barrier at 0.7740 zone, former base and Fibonacci 61.8% retracement, where rallies should be ideally capped, ahead of fresh attempt lower. Recent break below key 0.7624 support, shifted short-term focus towards next target at 0.7204, Fibonacci 76.4% retracement of multi-year 0.6007/1.1079 ascend.
    Res: 0.7682; 0.7700; 0.7740; 0.7787
    Sup: 0.7645; 0.7622; 0.7600; 0.7571


Share This Page