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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 22, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro trades in near-term neutral mode, with price action entrenched within daily 10 and 20SMA’s. Yesterday’s attempts lower and brief probe below daily 10SMA was short-lived, as the price found footstep at 1.0658, keeping intact pivotal Fibonacci 61.8% support at 1.0644. Near-term indecision is confirmed by yesterday’s long-legged Doji, with Asian trading also being entrenched within tight Doji. Yesterday’s price amplitude between 1.0658 and 1.0780, marks initial range, with break of either side, required to signal fresh near-term direction. However, overall tone remains bearish and is expected to keep the downside under pressure, while last Friday’s recovery top at 1.0847 stays intact.

    Res: 1.0747; 1.0780; 1.0800; 1.0847
    Sup: 1.0715; 1.0682; 1.0658; 1.0644

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    GBPUSD

    Cable trades without clear near-term direction, after yesterday’s extension of the pullback from 1.5051 peak, was contained by sideways-moving daily Kijun-sen line, keeping pivotal daily 20SMA at 1.4836, intact. Subsequent bounce averted immediate downside risk, ending the day in positive mode. On the other side, long-legged yesterday’s daily candle shows hesitation. sidelines downside risk. Near-term studies regained positive tone , with downside risk sidelined for now. Sustained break above yesterday’s high at 1.4871, is required to signal higher low formation and shift near-term focus higher. Otherwise, the price may continue consolidative phase. Only break below yesterday’s low at 1.4854 and daily 20SMA, would bring near-term bears fully in play.

    Res: 1.4971; 1.5008; 1.5051; 1.5100
    Sup: 1.4911; 1.4854; 1.4836; 1.4800

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    USDJPY

    The pair holds positive near-term tone, after extension of bounce from 118.52 low closed few ticks above daily 20 SMA. Consolidative phase under fresh recovery high at 119.82 is under way, with dips to be ideally contained at 119.28 higher low / daily 100SMA and near Fibonacci 38.2% of 118.52/119.82 upleg, before final push towards psychological 120 barrier, also Fibonacci 61.8% retracement of 120.83/118.52 descend. Break here to confirm recovery and expose key near-term barrier at 120.83. Conversely, break and close below daily 10SMA, would soften near-term tone and sideline upside attempts.

    Res: 119.82; 120.00; 120.28; 120.72
    Sup: 119.28; 119.12; 118.95; 118.52

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    AUDUSD
    The pair accelerates higher after dipping to 0.7681 yesterday, where pullback from 0.7841 recovery peak, was contained by daily 20SMA. Today’s strong rally penetrated into daily cloud and broke above 0.7770, Fibonacci 61.8% of 0.7824/0.7681 downleg, with action being underpinned by ascending daily 10SMA that formed 10/20SMA’s bullish cross at 0.7691. Bullish near-term studies support further recovery towards next targets, psychological 0.7800 barrier, ahead of lower platform at 0.7825 zone and key 0.7841, peak of 17 Apr. Corrective easing should be ideally contained at 0.7752, 21 Apr former low.
    Res: 0.7791; 0.7825; 0.7841; 0.7900
    Sup: 0.7752; 0.7700; 0.7681; 0.7663

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