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

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

Postby WindsorBrokers » Tue Oct 13, 2015 7:12 am


Near-term structure remains bullish, as renewed strength attempts again at 1.14 barrier, after pullback from yesterday’s peak at 1.1395, found footstep at 1.1342, broken bull-channel resistance. Completion of consolidation phase, confirmed by yesterday’s Doji, to open fresh acceleration towards next targets at 1.1458/65, peaks of 18 Sep / 15 May and 1.1473, Fibonacci 61.8% of 1.1725/1.1086 descend. Daily close above the latter, would trigger fresh acceleration higher.
Yesterday’s low at 1.1342, offers good support, ahead of 1.1309, Fibonacci 38.2% of 1.1170/1.1395 rally, loss of which would revive near-term bears.

Res: 1.1396; 1.1458; 1.1473; 1.1500
Sup: 1.1375; 1.1360; 1.1342; 1.1307



Cable is regaining traction and probes above three-day congestion top at 1.5380, after consolidative phase was contained at very strong 1.53 support zone, reinforced by daily 20SMA, with 200SMA, laying ticks above. Sustained break above 1.5380, which also marks the mid-point of 1.5656/1.5105 descend, is needed to resume recovery rally from 1.5105, interrupted by 1.5300/1.5380 consolidation. Next targets lay at 1.5427, daily 55SMA, ahead of 1.5446, Fibonacci 61.8% retracement.
Prolonged consolidation should hold above 1.53 handle, otherwise, sustained break here would signal lower platform formation and possible end of recovery phase.

Res: 1.5386; 1.5427; 1.5446; 1.5500
Sup: 1.5318; 1.5300; 1.5260; 1.5240



Near-term price action attacks the lower boundary of the triangle, after yesterday’s action was limited by daily 20SMA, keeping intact triangle’s top at 120.27 and more significant thin 127.37/70 daily Ichimoku cloud. Alignment of daily technicals is negative and will favor fresh downside attempts, while daily cloud caps. Sustained break below triangle support, currently at 120.68, will put pressure on short-term congestion floor at 119 zone and signal fresh direction, on violation of the latter.
Conversely, upside resumption requires break above daily cloud and 200SMA, currently at 120.87.

Res: 120.08; 120.27; 120.37; 120.70
Sup: 119.68; 119.23; 119.05; 118.67


Aussie enters near-term corrective phase, after strong and uninterrupted rally from 0.6935 double-bottom, peaked at 0.7380, being limited by falling daily 100SMA. Corrective easing that returned into daily cloud and cracked psychological 0.7300 handle, so far holds above initial support at 0.7278, former peaks / Fibonacci 23.6% of 0.6935/0.7380 rally. Extended dips, which are signaled by overbought daily slow Stochastic, turning lower, should be ideally contained above 0.7210, Fibonacci 38.2% of 0.6935/0.7380, to keep overall bulls intact.

Res: 0.7362; 0.7380; 0.7409; 0.7435
Sup: 0.7291; 0.7273; 0.7210; 0.7180

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