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

Discussion in 'Major Currency Pairs' started by WindsorBrokers, Apr 29, 2015.

  1. WindsorBrokers

    WindsorBrokers Content Contributor

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    EURUSD

    The Euro completes near-term consolidation phase and cracks psychological 1.10 barrier, on fresh attempts higher. Yesterday’s rally closed above daily 55SMA, the last obstacle on the way to key short-term barriers at 1.1034/50, 06 Apr / 26 Mar tops. Studies maintain firm bullish tone, with daily 10/20SMA’s bull-cross, underpinning the action. Expanding daily 20d Bollingers support further upside, with the upper band reinforcing initial 1.1034 resistance and sustained break higher, expected to open daily cloud top at 1.1165 and 1.1231, Fibonacci 138.2% projection of the upleg from 1.0664, in extension. On the downside, Monday’s peak at 1.0925, marks initial support, ahead of yesterday’s low at 1.0858, also near 38.2% retracement of 1.0664/1.0989 upleg, where correction should be ideally contained. Only extension below 1.0790, daily 20SMA / Fibonacci 61.8% retracement, would neutralize bulls.

    Res: 1.1001; 1.1034; 1.1050; 1.1100
    Sup: 1.0967; 1.0925; 1.0858; 1.0818

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    GBPUSD

    The pair maintains strong bullish tone, with yesterday’s fresh acceleration higher, being shaped in long green candle. Today’s fresh acceleration above yesterday’s high at 1.5435, Fibonacci 100% expansion of the second wave from 1.4854, makes retest of key barrier at 1.5551, peak of 26 Feb, also near Fibonacci 138.2% expansion, more viable. Strong bullish tone supports further upside, with corrective actions, signaled by overbought 4-hour studies, expected to interrupt rally. Yesterday’s low at 1.5175, reinforced by daily 100SMA, should ideally contain extended dips. Only loss of 1.51 zone, daily Ichimoku cloud top, would loss of which to sideline bulls.

    Res: 1.5400; 1.5427; 1.5478; 1.5530
    Sup: 1.5300; 1.5259; 1.5175; 1.5100

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    USDJPY

    The pair remains above two-day base at 118.76, with extended consolidative phase expected to precede fresh weakness. Near-term studies are negative and favor further downside, supported by eventual close below daily cloud base at 118.92, which now marks initial barrier. Final push through key 118.52/31 supports is required to signal an end of short-term congestion and resume descend from 122.01, 10 Mar peak. Daily 10SMA offers the next barrier at 119.16, while only break above descending daily 20SMA, currently at 119.47, would sideline near-term bears and shift focus towards pivotal 120 barrier, signaling prolonged sideways trading.

    Res: 119.16; 119.47; 119.72; 120.08
    Sup: 118.74; 118.52; 118.31; 118.00

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    AUDUSD
    The pair accelerated sharply yesterday and eventually broke and closed above psychological 0.80 barrier. Extended third wave that commenced from 0.7681, 21 Apr higher low, peaked yesterday at 0.8026, with focus at the next target at 0.8093, its Fibonacci 138.2% expansion. Near-term consolidation is under way, with extended dips, seen on overbought 4-hour conditions, facing initial support at 0.7936/26, former peak of 24 Mar / daily cloud top and expected to find ground above 0.7841, previous high of 17 Apr / near 50% of 0.7681/0.8026 upleg.
    Res: 0.8026; 0.8093; 0.8163; 0.8207
    Sup: 0.7977; 0.7936; 0.7894; 0.7841
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