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Short Term Technical Analysis for Majors (07:00 GMT)

Discussion in 'Market Predictions and Reports' started by WindsorBrokers, Jul 18, 2012.

  1. WindsorBrokers

    WindsorBrokers Windsor Brokers Representative

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    EUR/USD
    Repeated failure at strong 1.2300 barrier resulted in fresh fall that dipped so far to 1.2215, near Fib 61.8% of 1.2161/1.2315 and just above key downside level and trendline support at 1.2200 that was initially seen containing dips. However, negative hourly studies and indicators on 4h chart pointing lower, with price action moving below 20/55 EMA, seeing potential for further weakness. Loss of 1.2200 to open 1.2188/74, ahead of key ones at 1.2161/50, loss of which to resume longer-term downtrend. At the upside, today’s intraday low and 20/55 day EMA’s crossover at 1.2265, offer strong barrier, ahead of key 1.2300/15 zone.

    Res: 1.2245, 1.2265, 1.2300, 1.2315
    Sup: 1.2215, 1.2200, 1.2188, 1.2174

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    GBP/USD
    Today’s upside rejection under key near-term barrier at 1.5677 has triggered fresh slide that cracked our initial support at 1.5600, dipping to 1.5580 so far. However, holding above 1.5550, yesterday’s higher low, keeps short-term uptrend intact for possible fresh attempt higher but still weak hourly studies and price holding below descending 20 day EMA at 1.5630 zone, sees risk of further easing. Upside break above 1.5630 is required to improve near-term structure and re-focus 1.5667/77 highs, otherwise, risk of losing 1.5550 and extension towards psychological 1.5500, also Fib 61.8% of 1.5392/1.5677 upleg, would be the likely scenario.

    Res: 1.5613, 1.5630, 1.5650, 1.5667
    Sup: 1.5580, 1.5550, 1.5539, 1.5500

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    USD/CHF
    Bounce of 0.9758, today’s low key near-term support zone, averts immediate downside risk, as the pair surges above 0.9800 barrier. Improved hourly studies are supportive for possible attack at key upside points at 0.9850/70 zone, as 61.8% of 0.9871/0.9750 downleg has been retraced so far. However, still weak conditions on 4h chart do not rule out upside rejection and fresh slide towards 0.9750 base, where 55 day EMA keeps the downside protected for now. Break here to open fresh phase lower and expose to expose 0.9714, Fib 38.2% and 0.9700, round figure support next.

    Res: 0.9851, 0.9861, 0.9871, 0.9900
    Sup: 0.9800, 0.9768, 0.9758, 0.9750

    [​IMG]


    AUD/USD
    The pair’s short-term price action off 1.0100, 12 July low, has fully retraced 05/12 July 1.0326/1.0100 corrective downleg. Consolidation phase on extended short-term conditions is now under way, with yesterday’s break and close above 200 day MA, being supportive for further extension higher, however, clear break above 1.0326, required to confirm and open 1.0368, Fib 61.8% of 1.0855/0.9579, broader downtrend. Immediate support lies at 1.0280 zone, consolidation floor / 55 day EMA, while only loss of 1.0250/40 zone, 16 July high / 17 July low / Fib 38.32%, would soften near-term tone.

    Res : 1.0315, 1.0326, 1.0368, 1.0400
    Sup : 1.0287, 1.2075, 1.0250, 1.0234

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