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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Mar 19, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro accelerates reversal off fresh high at 1.1034, reached on yesterday’s rally on dovish Fed that briefly probed above 1.10 barrier. Bullish tone that has been established on near-term studies, is losing traction, after the price dipped below 1.0680, Fibonacci 61.8% retracement of 1.0461/1.1034 rally / broken daily 10SMA, keeping the uncertainty of near-term direction. Daily close below 10SMA is required to confirm negative stance and risk retest of hourly higher bases at 1.0580/1.0550, loss of which to re-open key 1.0461 support, as daily studies hold negative tone. Conversely, close above daily 20SMA, currently at 1.0946, to revive near-tem bulls and re-focus targets at 1.1034, yesterday’s high, 1.1071, Fibonacci 61.8% retracement of 1.1449/1.0461 descend and 1.1096, former low of 26 Jan.

    Res: 1.0700; 1.0755; 1.0795; 1.0832
    Sup: 1.0629; 1.0600; 1.0580; 1.0550



    Cable spiked to 1.5160 on post-Fed’s rally, where gains were capped by daily Ichimoku cloud base and daily 20SMA and subsequent quick pullback erased part of earlier gains on a daily close below psychological 1.50 level. Asian session and beginning of European trading saw further easing that returns below broken daily 10SMA and also broke below strong support at 1.4850, former double-top, also denting psychological 1.48 support . Close below 1.4850 to signal lower top formation and shift near-term focus lower, as daily technicals remain bearish. Alternative scenario requires fresh strength and close above daily 20SMA, currently at 1.5150, to confirm reversal.

    Res: 1.4906; 1.4935; 1.5008; 1.5050
    Sup: 1.4793; 1.4770; 1.4722; 1.4697



    The pair dipped below 120 support on yesterday’s post-Fed dollar’s bearish acceleration, ending near-term consolidative phase and sidelining immediate attempts at fresh high at 122.01. Yesterday’s close in long red candle, after triple Doji, signals weakening of near-term tone, however, quick recovery above 120.60, former pivotal support and Fibonacci 61.8% of 121.39/119.28 fall, keeps in play hopes of renewed attempts higher. Near-term studies are still negative, with indicators in strong ascend and daily bulls remain intact that supports the notion. Daily 20SMA , currently at 120.15, now acts as support, with close above daily 10SMA at 121.06, also former consolidation floor, required to confirm higher low at 119.28 and re-focus the upper targets.

    Res: 120.80; 121.06; 121.39; 121.65
    Sup: 120.43; 120.15; 119.66; 119.28


    The pair returned to the negative near-term mode on acceleration of the pullback from yesterday’s spike high at 0.7845. Quick reversal to 0.7740, where yesterday’s close occurred and today’s fresh acceleration below 0.7687, Fibonacci 61.8% of 0.7589/0.7845 rally, softens near-term tone and increases risk of full retracement of yesterday’s rally that would put fresh low of 11 Mar at 0.7558, under strong pressure. Bearish acceleration cracked broken daily 10SMA, with close below here to confirm negative scenario, as daily studies remain bearish. Conversely, return above daily 20SMA, currently at 0.7740, would keep alive hopes of fresh recovery attempts.
    Res: 0.7700; 0.7740; 0.7806; 0.7845
    Sup: 0.7650; 0.7600; 0.7558; 0.7537


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