Short Term Technical Analysis for Majors (11:00 GMT)

Short Term Technical Analysis for Majors (11:00 GMT)

Postby WindsorBrokers » Tue Dec 01, 2015 7:26 am


The Euro probed above 1.06 barrier, on a bounce from yesterday’s marginally lower low at 1.0556. Current action is seen as consolidation and preceding fresh bears towards initial target at 1.0519 and key med-term support at 1.0461, low of 2015, posted in Mar, in extension.
Bearish resumption, on violation of the latter, is seen as likely s/t scenario, as overall bears remain firmly in play.
Near-term consolidation faces good resistance at 1.0628, falling daily 10SMA, which is expected to ideally cap, guarding descending daily 20SMA, currently at 1.0693, reinforcing 1.0688 pivot, spike high of 25 Nov.

Res: 1.0617; 1.0628; 1.0690; 1.0737
Sup: 1.0576; 1.0556; 1.0519; 1.0500



Cable bounced strongly after cracking psychological 1.50 support yesterday and regained levels above 1.51 handle, on today’s fresh bullish acceleration.
Near-term technicals regained traction on current rally, which so far holds under pivotal barrier at 1.5134, 25 Nov lower top / near Fibonacci 38.2% of 1.5334/1.4992 descend, reinforced by falling daily 10SMA.
Sustained break here is required to give initial signal of stronger correction, as daily slow Stochastic reversed from oversold zone and heads north, showing more room for corrective action.
However, strong resistance zone lies ahead, consisting of falling daily 20SMA at 1.5164 and weekly Ichimoku cloud base at 1.5188, which lies just under Fibonacci 61.8% of 1.5334/1.4992 and is expected to limit extended rallies, ahead of renewed attack at 1.50 pivot.
Near-term consolidative actions are seen ahead of renewed attempts higher, while return below 1.5048, session low, would signal an end of corrective phase.

Res: 1.5124; 1.5134; 1.5164; 1.5188
Sup: 1.5075; 1.5028; 1.4992; 1.4950


The pair regains 123 zone, after overnight’s sharp fall to 122.62, where footstep was found.
Near-term technicals are in neutral mode, while daily bulls remain intact and keep focus at the upside.
Brief break below rising daily 20SMA, which maintains ascend from 122.24 higher low, so far did not affect overall bullish structure. Repeated daily close above 20SMA, to keep intact near-term upleg from 122.24, for fresh attack at 123.32, yesterday’s high and extension towards key near-term barrier at 123.74, 18 Nov high.
Conversely, fresh attempts lower and daily close below 20SMA, currently at 122.80, would sideline immediate upside attempts and signal extended consolidation.
Session low at 122.62, offers initial support, guarding 122.24/20 breakpoint.

Res: 123.32; 123.59; 123.74; 124.50
Sup: 122.80; 122.62; 122.20; 121.56


Aussie accelerated on RBA overnight, triggering fresh recovery extension, signaled by yesterday’s Bullish Engulfing pattern. Fresh strength emerged above daily Ichimoku cloud top at 0.7214, to peak ticks away from psychological 0.7300 barrier.
Strong bullish setup of daily studies, favors further upside, after near-term consolidation phase, left higher base at 0.7160 zone.
Focus is shifting towards key 0.7380 barrier, peak of 12 Oct, regain of which is needed to confirm higher low at 0.7020 and signal resumption of recovery from 0.6906, low of 04 Sep.
Hourly higher low at 0.7253, offers initial support, ahead of daily cloud top at 0.7214, which is expected to contain extended corrective dips.

Res: 0.7300; 0.7361; 0.7380; 0.7435
Sup: 0.7253; 0.7220; 0.7214; 0.7168

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