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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 21, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

    Feb 18, 2010
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    The Euro remains under pressure in the near-term and accelerates lower after completing near-term consolidation above 1.0711, yesterday’s low. Near-term studies are losing traction and extension below1.07 breakpoint zone, reinforced by daily 10SMA / Tenkan-sen line, opens fresh weakness towards next significant supports at 1.0644/22, Fibonacci 61.8% retracement of 1.0519/1.0847 upleg / 16 Apr trough. Bearish Engulfing pattern that was formed on yesterday’s negative close, as well as daily close below daily 1.07 handle, support negative scenario. Former breakpoint at 1.07, now marks initial barrier, ahead of session high at 1.0748 and daily Kijun-sen at 1.0785, break of which to neutralize downside risk.

    Res: 1.0700; 1.0748; 1.0767; 1.0800
    Sup: 1.0658; 1.0644; 1.0622; 1.0600



    Cable is at the back foot and extends reversal after failure to hold gains above pivotal 1.50 barrier. Fresh weakness cracked daily Kijun-sen line at 1.4862, aiming towards pivotal support at 1.4830, sideways-moving daily 20SMA. Yesterday’s close in red and daily stochastic reversing from overbought territory, support the notion, with close below daily 20SMA, required to confirm and expose 1.48, round-figure support and 1.4750, Fibonacci 61.8% retracement of 1.4563/1.5051 upleg. Session high at 1.4910 marks initial resistance, ahead of yesterday’s high at 1.4982, regain of which to return near-term focus towards pivotal 1.5000/51 barriers.

    Res: 1.4910; 1.4982; 1.5008; 1.5051
    Sup: 1.4854; 1.4830; 1.4800; 1.4750



    Near-term studies are regaining bullish momentum after bouncing from yesterday’s low at 118.52, where descend towards key 118.31 support found temporary support. Yesterday’s positive close and today’s fresh strength above 119.5967, daily 20SMA / Tenkan-sen line / 50% retracement of 120.83/118.52, sidelines immediate downside risk, with sustain break here to trigger further acceleration towards next trigger at 120.00. Negative tone still dominates on daily studies and regain of 120 handle is required to confirm near-term bottom and expose the upper boundary of 118.31/120.83 range.

    Res: 119.78; 120.00; 120.28; 120.72
    Sup: 119.42; 119.12; 118.95; 118.52


    The pair comes under pressure, following yesterday’s upside rejection that left hourly lower platform at 0.7825, with fresh acceleration lower, ending day in long red candle. Today’s fresh weakness and price action established below daily cloud base and cracked daily 20SMA at 0.7683. Close below daily 20SMA and extension below 0.7663, Fibonacci 61.8% retracement of 0.7553/0.7841, to confirm negative near-term stance and signal possible return to 0.7553, 14 Apr higher low. Daily Kijun-sen line reinforces initial barrier and session high at 0.7726, ahead of 0.7757, former consolidation floor and 0.7770, Fibonacci 61.8% of 0.7825/0.7681, regain of which to sideline downside pressure.
    Res: 0.7726; 0.7757; 0.7770; 0.7825
    Sup: 0.7681; 0.7663; 0.7621; 0.7570


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