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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 » Tue Sep 10, 2013 10:57 am


The Euro regained strength after finding ground at 1.3100 zone, 50% of 1.2754/1.3450 upleg, rallying through 1.3200/20 and 1.3250 barriers. The price retraced exactly 50% of 1.3450/1.3103 descend at 1.3277, session high, with pause in rally suggested by overbought 1 and 4-hour conditions. Near-term studies are positive and favor further upside, with psychological 1.33 level and 1.3320, previous consolidation floor / Fibonacci 61.8%, are the next targets, with 1.3400, range top and 1.3450, 20/08 peak, seen on extension. Corrective dips should be ideally contained at 1.3200, psychological support / 20DMA, to keep freshly established bulls in play.

Res: 1.3279; 1.3300; 1.3320; 1.3355
Sup: 1.3250; 1.3220; 1.3200; 1.3190



Cable has fully retraced 1.5716/1.5427, near-term corrective phase, as rally from 1.5427, extended gains to 1.5731 so far. Key support at 1.5751, 17/06 high, reinforced by weekly 200DMA, is in near-term focus, with break higher to confirm 1.4830/12 double-bottom and open way for further extension of bull-phase from 1.4812, 07/07 low. Overall bulls remain in play, with overbought near-term studies suggesting consolidative/corrective phase, ahead of fresh rally.

Res: 1.5731; 1.5751; 1.5809; 1.5843
Sup: 1.5684; 1.5645; 1.5615; 1.5562



The pair maintains positive near-term tone, as repeated rejection above 100 barrier, found footstep at 99.32, keeping the Monday’s gap intact. Fresh strength aims through 100 again, with break above 100.21, last Friday’s high, required to resume upleg from 96.80 and open 100/44/85, next targets. Near-term studies are positive and keep the upside favored, as long as the price holds above 99.32 higher platform. Conversely, loss of 99.00 would bring bears back in play.

Res: 100.09; 100.21; 100.44; 100.85
Sup: 99.46; 99.32; 99.00; 98.53



The Aussie continues to trend higher and cleared strong barrier at 0.9220/32, 12/19 / 08 double-top. This confirms near-term base at 0.8846/90 and sees potential for further recovery towards pivotal 0.9300/50 resistance zone. Daily indicators are breaking into positive territory and gaining strong bullish momentum that supports the notion. However overbought near-term conditions suggest pause in current rally, in favor of corrective pullback. Previous barriers at 0.9232/20, now act as initial support, ahead of 0.9200/0.9190. Increased downside risk would be seen on a slide below 0.9100 handle, near 50% retracement of 0.8891/0.9288 rally.

Res: 0.9288; 0.9300; 0.9316; 0.9343
Sup: 0.9232; 0.9220; 0.9200; 0.9190



Spot Gold remains under pressure, with near-term technicals maintain negative tone, as recovery attempt was capped under psychological 1400 barrier. Fresh weakness is under way, with immediate support at 1373 coming under pressure, ahead of more significant 1358/55, 06/09 low / trendline resistance, below which to open key support and breakpoint at 1350 zone. Alternative scenario requires break above 1400 and regain of 1416 lower top, to avert immediate downside risk.

Res: 1381; 1394; 1400; 1410
Sup: 1373; 1358; 1353; 1350
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