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Short Term Technical Analysis for Majors (12:30 GMT)

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Short Term Technical Analysis for Majors (12:30 GMT)

Postby WindsorBrokers » Tue Feb 02, 2016 12:46 pm

EURUSD
The Euro returned back into daily Ichimoku cloud, on extended recovery that commenced from 1.08 zone, lows hit on Friday’s sharp fall and retested yesterday.
Daily chart shows range-trading, with flat daily indicators, holding in neutrality zone. Setup of daily MA’s turned into mixed mode, on fresh rally that returned above 20 and 30SMA’s.
Daily 30SMA now offers immediate support, which so far contained daily action at 1.0880.
Near-term technicals regained bullish tone and favor further upside attempts, as the pair probes above 1.09 handle.
Descending daily 100SMA and range tops at 1.0970/80 zone, mark strong resistance and are expected to cap extended rallies, guarding next breakpoint at 1.1006, daily Ichimoku cloud top.
Alternative scenario requires return below 20/30SMA’s and extension under daily cloud base at 1.0860, to turn near-term focus lower.

Res: 1.0929; 1.0946; 1.09661.1006
Sup: 1.0880; 1.0860; 1.0832; 1.0808

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GBPUSD

Cable broke and close above daily 20SMA, on yesterday’s rally that left long daily bullish candle and turned near-term sentiment into positive mode. Eventual probe and close above near-term congestion tops, reinforced by Fibonacci 38.2% retracement level of 1.4943/1.4078 downleg, suggest further recovery. Broken 20SMA now acts as support at 1.4356 and holds today’s consolidation.
Renewed attempts and sustained break above yesterday’s peak at 1.4442, would open next pivotal barrier at 1.4510, daily Kijun-sen / 30SMA, also 50% retracement of 1.4943/1.4078 downleg.
Daily 10SMA marks pivotal support at 1.4290, while return below daily Tenkan-sen at 1.4260, will neutralize and revive near-term bears.


Res: 1.4411; 1.4442; 1.4473; 1.4510
Sup: 1.4356; 1.4325; 1.4290; 1.4260

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USDCAD

The pair consolidates in 1.40 zone, after posting fresh low at 1.3906 on yesterday’s extended weakness.
Repeated close below pivotal 1.3978 support, Fibonacci 38.2% of 1.2829/1.4688 rally gives strong bearish signal, together with repeated bearish daily candle with long upper shadow.
Weaker US dollar offset yesterday’s sharp fall of oil price and keeps negative sentiment in play.
Near-term studies are negative, with bearish setup of daily indicators and bearish 10/20SMA’s cross formed, looking for fresh downside attempts.
Yesterday’s high at 1.4060, offers initial resistance, ahead of falling daily 10SMA at 1.4135, which is expected to ideally cap rallies.
On the downside, session low at 1.3934, marks initial support, ahead of yesterday’s low at 1.3906, followed by 1.3828, rising daily 55SMA, which guards key short-term support, daily higher base at 1.3800.
Res: 1.4060; 1.4190; 1.4135; 1.4204
Sup: 1.3934; 1.3906; 1.3828; 1.3800


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AUDUSD
The pair is heavier in the near-term action, following bearish acceleration on RBA overnight that cracked near-term consolidation floor at 0.7040.
Mixed near-term technicals suggest prolonged range trading, while the price holds above 0.7040 handle, before fresh attempts lower, as reversal of daily slow Stochastic suggests fresh weakness, which requires break below initial 0.7040 support and 0.7020, Fibonacci 38.2% of 0.6825/0.7139 recovery.
Daily Kijun-sen offers immediate resistance at 0.7075, guarding pivotal 0.7140 resistance zone, recovery peak, reinforced by daily 100SMA.

Res: 0.7075; 0.7100; 0.7140; 0.7200
Sup: 0.7040; 0.7020; 0.7000; 0.6969

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Re: Short Term Technical Analysis for Majors (12:30 GMT)

Postby rosentray » Wed Feb 24, 2016 1:51 pm

Very helpful analysis!
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Re: Short Term Technical Analysis for Majors (12:30 GMT)

Postby rosentray » Thu Feb 25, 2016 9:55 am

It seems the EUR/USD reached a turning point, let's see if the price reacts to the support level! 1.10 make it or break it.
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