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

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

Postby WindsorBrokers » Thu Oct 08, 2015 9:50 am


Near-term action returns into daily Ichimoku cloud, base of which acted as strong resistance in past few days. Fresh attempts above bear-trendline, connecting 1.1712 and 1.1458 tops and daily Kijun-sen line at 1.1272, give positive signal and turn focus towards the upper boundary of near-term congestion at 1.131, also 61.8% of 1.1458/1.1103 and daily cloud top at 1.1356. The latter marks pivotal barrier and sustained break here is required to end near-term range phase and signal bullish resumption.
On the other side, daily 20SMA, offers support at 1.1244 and repeated close below here, would signal false breaks higher and confirm extended range-trading.
Pivotal support lies at 1.1147, 200SMA / bull-trendline off 1.1103 low.

Res: 1.1308; 1.1317; 1.1356; 1.1400
Sup: 1.1260; 1.1244; 1.1232; 1.1210



Cable is attempting through strong barrier at 1.5315, Fibonacci 38.2% of 1.5656/1.5105 fall, reinforced by daily 20, 30 and 200SMA. Yesterday’s close that occurred above broken bull-trendline, connecting 4.4563 and 1.5163 lows, at 1.5300, gives positive signal for firm break above pivotal 1.5315 barrier. Daily close above here to confirm break and open immediate barrier at 1.5380, daily Kijun-sen line and 50% retracement. Further acceleration would expose 1.5446, Fibonacci 61.8% of 1.5656/1.5105. Session low and consolidation floor at 1.5295, offers initial support, ahead of 1.5260, Fibonacci 38.2% of 1.5135/1.5337 rally and pivotal 1.5240 support, tops of former 1.5105/1.5240 consolidation.

Res: 1.5337; 1.5381; 1.5446; 1.5500
Sup: 1.5295; 1.5260; 1.5240; 1.5213



Near-term focus shifts towards triangle’s lower boundary, after unsuccessful attempts to sustain attempts above triangle resistance, which were capped by daily cloud base, pivotal resistance. Technicals of lower timeframes are losing traction and could trigger further weakness, as daily studies remain bearish. Daily close below 119.60, triangle support line, is required to confirm scenario and expose 119 zone, floor of near-term congestion.

Res: 120.13; 120.55; 120.70; 120.86
Sup: 119.60; 119.47; 119.05; 118.67


The pair corrects strong rally of past few days that peaked at 0.7233 yesterday, capped by the upper 20d Bollinger band and Fibonacci 61.8% of 0.7435/0.6906. The pullback is seen preceding final attack at 0.7278 peak and key resistance and should be ideally contained at 0.7145 Fibonacci 38.2% of 0.7000/0.7233 upleg. Otherwise, deeper correction could be expected towards pivotal 0.7090 support, daily 20SMA / Fibonacci 61.8% retracement. Only break here would neutralize near-term bulls.

Res: 0.7214; 0.7233; 0.7278; 0.7310
Sup: 0.7163; 0.7145; 0.7109; 0.7090
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