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Short Term Technical Analysis for Majors (07:00 GMT)

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Short Term Technical Analysis for Majors (07:00 GMT)

Postby WindsorBrokers » Mon Sep 09, 2013 8:20 am


The Euro/Usd trades in near-term corrective mode, off last week’s fresh low at 1.3100, where the pair found temporary support. Strong rally from 1.3100, with weekly close above 200DMA, remains capped under 1.3200 barrier for now, where the price consolidates. Positive hourly structure, with price action being underpinned by 20/55DMA’s bullish crossover, sees the upside favored. Break above 1.32 to open next layers of significant resistances at 1.3220 zone, Fibonacci 38.2% of 1.3397/1.3103 / 55DMA and 1.3250, 50% retracement, 30/08 lower platform, break of which to confirm recovery. Indicators on 4-hour chart are in the negative zone that keeps the downside at risk, however bullish MACD/RSI divergence is seen as supportive factor. Immediate support lies at 1.3160, while violation of 1.3100, would bring bears in play and signal resumption of larger downtrend from 1.3450 peak.

Res: 1.3189; 1.3200; 1.3220; 1.3250
Sup: 1.3160; 1.3136; 1.3100; 1.3080



Cable holds positive near-term tone, as Friday’s rally spiked to a marginally higher high at 1.5679, en-route towards near-term targets at 1.5700/16. Technicals on lower and larger timeframes are positive and favor further upside, with clearance of initial 1.5716 barrier, expected to open way towards key 1.5751, 17/06 peak. Overnight’s low at 1.5611, offers initial support, along with psychological 1.5600 level, while only slide below Friday’s low at 1.5562, would signal stronger pullback.

Res: 1.5666; 1.5679; 1.5700; 1.5716
Sup: 1.5611; 1.5600; 1.5562; 1.5553



The pair recovered good part of last Friday’s losses, when the price dipped to 98.53, following brief break above 100 barrier and fresh high being posted at 100.21. Gap higher opening cracked 100 hurdle again, however, weak hourly studies keep the downside at risk. Loss of 99.00, psychological support and Friday’s closing price, would trigger fresh weakness and expose 98.50 breakpoint, Friday’s low / 50% retracement of 96.80/100.21 ascend. Conversely, sustained break above 100 barrier, is required to resume broader uptrend off 95.78, 08/08 low and look for test of 100.44/85 barriers.

Res: 99.79; 100.09; 100.21; 100.44
Sup: 99.15; 99.00; 98.50; 98.00



The Aussie remains firm and consolidates last week’s gains that peaked above 0.9200 barrier. Positive tone prevails on lower timeframes and sees scope for eventual attempt through key near-term barriers at 0.9220/32, to confirm near-term base and open way for stronger corrective action towards 0.9300 zone, where the next barriers lay. Daily indicators breaking above the midlines, support the notion. Initial supports lies at 0.9160 zone, while only loss of 0.9115/00 handles, would delay immediate bulls.

Res: 0.9215; 0.9220; 0.9232; 0.9250
Sup: 0.9166; 0.9115; 0.9100; 0.9068

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