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

Discussion in 'Technical Analysis' started by WindsorBrokers, Oct 20, 2015.

  1. WindsorBrokers

    WindsorBrokers Broker Representative

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    EURUSD


    The pair closed in red yesterday, with psychological 1.13 support, reinforced by daily Kijun-sen line, containing dips for now. Near-term technicals are bearishly aligned and see risk of slide below 1.13 handle, for test of strong support zone that lies just below. Daily 20SMA offers initial support at 1.1280, followed by thin 1.1260/73 daily Ichimoku cloud and 1.1253, Fibonacci 61.8% of 1.1103/1.1494 rally.

    However, setup of daily MA’s and indicators, remains bullish and signals possible reversal above strong support zone. Oversold daily slow Stochastic, support the notion.
    Break below 1.1250 is needed to confirm bearish resumption, while bullish scenario requires lift above initial barrier at 1.1378, Fibonacci 38.2% of 1.1494/1.1304 / hourly lower base, as bullish signal. Return above 1.14 handle, is needed to confirm near-term bulls fully in play.



    Res: 1.1378; 1.1395; 1.1422; 1.1450

    Sup: 1.1300; 1.1270; 1.1253; 1.1230



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    GBPUSD


    Cable remains in narrow near-term consolidation, entrenched within daily Ichimoku cloud, with fresh attempts above cloud top, underway. Near-term structure remains bullish and sees final push through 1.55 barrier and resumption of recovery rally, as favored scenario.
    Bullish daily studies, with fresh attempts through 100SMA, which capped upside attempts in past few sessions and expanding 20d Bollinger bands, support scenario.
    Daily slow Stochastic, which moves sideways in the overbought territory, warns of possible extended consolidation.
    Daily cloud base at 1.5404, marks pivotal support and break lower would activate alternative scenario of stronger correction of 1.5198/1.5506 upleg.


    Res: 1.5506; 1.5526; 1.5561; 1.5597

    Sup: 1.5453; 1.5425; 1.5404; 1.5352



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    USDJPY



    The pair extends near-term recovery from fresh low at 118.05 and probes above 119.65, last Friday’s recovery top / daily Kijun-sen line, after yesterday’s narrow consolidation. Near-term bulls are gaining traction and threaten to break above the first pivot at 119.85, daily 20SMA, which is expected to cap recovery rallies.
    Break higher would sideline downside attempts, in favor of stronger recovery above 12 barrier, which would bring in focus breakpoint zone, shaped in thin daily Ichimoku cloud and laying at 120.32/70 span.

    Otherwise, daily close below 20SMA, would signal an end of corrective phase and shift near-term focus lower again.


    Res: 119.85; 120.00; 120.32; 120.70

    Sup: 119.40; 119.12; 118.90; 118.70



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    AUDUSD


    Aussie probes above descending daily cloud top again, following yesterday’s unsuccessful attempts above 0.73 barrier that left red daily candle with long upper shadow and weakened near-term structure.
    Near-term studies hold neutral tone, as the price is entrenched within 0.7240/0.7305 range, in directionless mode.

    Daily picture show the price action holding in triangular consolidation, following 0.7380/0.7196 corrective pullback. Setup of daily technicals remains bullish and favors fresh upside attempts, with 0.7305, marking initial barrier, followed by falling 100SMA at 0.7341 and 15 Oct lower top at 0.7361, to expose key 0.7380 peak.

    On the downside, yesterday’s low at 0.7235, offers immediate support, guarding 0.7196 breakpoint, 14 Oct pullback’s low.


    Res: 0.7305; 0.7341; 0.7361; 0.7380
    Sup: 0.7273; 0.7235; 0.7196; 0.7157


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