Short Term Technical Analysis for Majors (10:00 GMT)

Short Term Technical Analysis for Majors (10:00 GMT)

Postby WindsorBrokers » Wed May 25, 2016 6:09 am

Strong bearish signal was generated by yesterday’s long red daily candle. Weakness cracked daily Ichimoku cloud base at 1.1142 and hit fresh low at 1.1131. Near-term action is in narrow consolidation mode under initial barrier at 1.1162 (daily 100SMA).
Focus is at 1.1123 (Fibo 61.8% of 1.0820/1.1614 rally) and 1.1101 (sideways –moving 200SMA).
Close below daily cloud base is needed to confirm strong bearish stance.
Above 100SMA, next barrier lies at 1.1178 (former low / falling 5SMA), followed by top of previous consolidation at 1.1241, reinforced by descending 10SMA, which marks upside breakpoint.

Res: 1.1162; 1.1178; 1.1241; 1.1281
Sup: 1.1131; 1.1123; 1.1101; 1.1056


Cable probes above former high of 19 May at 1.4660, after yesterday’s strong bullish acceleration fully retraced 1.4660/1.4440 pullback.
Strong bullish sentiment is in play and looks for sustained break above 1.4660, to retest key short-term barrier and recovery peak of 03 May at 1.4768, reinforced by descending 200SMA at 1.4781
Daily technicals maintain strong bullish setup and support the notion.
Session low at 1.4599 marks initial support, ahead of rising 5SMA at 1.4572. Bullish cross of 10/20SMA is forming at 1.4512 and underpinning bullish action.

Res: 1.4691; 1.4768; 1.4781; 1.4800
Sup: 1.4599; 1.4572; 1.4512; 1.4464



The pair fully reversed Monday’s strong fall that bottomed at 109.09, on yesterday’s bullish acceleration which extends today. Fresh strength penetrated again daily cloud base, which now acts as initial support at 109.80. Close above cloud base will confirm renewed bulls for retest of 110.57 (last Friday’s high) and signal resumption of recovery leg from 105.53 (low of 03 May).
Rising daily Tenkan-sen at 109.51 is expected to contain corrective dips.

Res: 110.37; 110.57; 111.00; 111.87
Sup: 108.80; 109.51; 109.09; 108.64


Aussie closed in red yesterday after triple-Doji, signaling resumption of larger downtrend from 0.7833. The pair posted fresh nearly three-month low at 0.7143, however, long tail of yesterday’s candle signal hesitation.
Extended consolidation is expected to precede fresh bearish action towards targets at 0.7106/63 (29 Feb higher low / Fibo 76.4% retracement of 0.6826/0.7833 ascend).
Yesterday’s high at 0.7226 marks good resistance, with extended upticks to stay below 10/200SMA’s Death Cross that formed at 0.7253 and generated strong bearish signal.

Res: 0.7226; 0.7253; 0.7298; 0.7364;
Sup: 0.7171; 0.7143; 0.7106; 0.7063
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