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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 » Thu Sep 26, 2013 11:28 am


The Euro regained levels above 1.35 handle after finding ground at 1.3460, just ahead of strong support at 1.3450, 20/08 previous high and 50% retracement of 1.3337/1.3567 rally. The price action moves towards the upper boundary of near-term range at 1.3550, with improved hourly structure and positive 4-hour studies, setting scope for possible fresh attack at key near-term barrier and peak at 1.3567. Break here to resume larger uptrend that commenced from 1.2754, with weekly close above 1.3567/1.3600 barriers, required to confirm bulls and open way towards short-term target at 1.3710, 01/02 annual high. To keep the structure intact, support at 1.3450 must hold dips. Previous resistance at 1.3500 offers immediate support that is reinforced by hourly Ichimoku cloud top.

Res: 1.3536; 1.3547; 1.3567; 1.3600
Sup: 1.3500; 1.3461; 1.3450; 1.3425



Cable regained ground on a bounce to the levels close to 1.6100 barrier, after pullback from 1.6161 peak, found support at 1.5953, Fibonacci 76.4% retracement of 1.5890/1.6161 rally. Bulls on lower timeframes studies returned to play, with near-term focus being shifted towards the upside. Clearance of initial 1.6100 hurdle to open key resistance at 1.6161, 19/09 high and signal completion of near-term corrective phase, with break higher to resume 9-week uptrend from 1.4812, 09/07 low and open way towards key short-term barriers at 1.6300 and 1.6380. To keep freshly established bulls intact, corrective dips should be contained at /above 1.6020, 50% retracement of 1.5953/1.6086 upleg.

Res: 1.6086; 1.6100; 1.6140; 1.6161
Sup: 1.6065; 1.6035; 1.6020; 1.6000



The dollar recovered a good part of the recent fall from 99.65, on a bounce from 98.25, where the price found support. Regain of levels above psychological 99.00 barrier, marks 61.8% retracement of 99.65/98.25 descend, with hourly indicators moving into positive territory, seeing potential for further recovery. From the other side, weak 4-hour structure keeps the downside vulnerable, while lower top at 99.65 stays intact. Break here to confirm reversal and re-open psychological 100 barrier. Initial supports lay at 98.80 and 98.50, while slide below 98.25 would bring bears back in play.

Res: 99.10; 99.16; 99.65; 99.96
Sup: 98.80; 98.46; 98.25; 98.00



The Aussie remains under pressure, as fresh extension lower fully retraced post-Fed rally from 0.9340. Negatively aligned near-term studies keep the downside at risk, with strong support zone at 0.9300, psychological support and 0.9280; higher low of 17/09 / Fibonacci 38.2% of 0.8891/0.9526 rally, coming in focus. Break lower to open next layers of support at 0.9250 and strong 0.9220/00 area, higher platform of 12/13 / 09 and 50% retracement, where any stronger pullback should be contained, to keep larger bulls intact. However, only regain of 0.9455 lower platform, would shift focus higher.

Res: 0.9412; 0.9455; 0.9483; 0.9500
Sup: 0.9337; 0.9300; 0.9280; 0.9222

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