Windsor Brokers - Short Term Technical Analysis for Majors (updated daily) - page 92
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EURUSD
The Euro is near-term corrective mode after fresh bears broke below 1.2930, 1.2660/ 1.2754 bull-trendline and extended under 1.29 handle, to reach fresh low at 1.2858. Recovery action was supported by yesterday’s positive close, however, no significant upside action would be expected, as long as 1.2987, yesterday’s high and psychological 1.30 barrier stay intact. Hourly studies gained traction, while 4-hour structure remains weak, along with overall negative picture, which keeps focus at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform.
Res: 1.2977; 1.2987; 1.3000; 1.3044
Sup: 1.2858; 1.2800; 1.2786; 1.2750
GBPUSD
Cable consolidates recent losses and shows near-term basing attempt at fresh lows, just ahead of psychological 1.6000 support. Upside heading near-term indicators are supportive for stronger corrective action, which was signaled by oversold daily conditions and yesterday’s Doji candle. Confirmation of such scenario requires today’s positive close. Initial resistance lies at 1.6185, 08 Sep intraday high, ahead of more significant 1.6230, week’s high, clearance of which to accelerate attempts of Monday’s gap filling and regain of pivotal 1.6330 lower top. Otherwise, narrow consolidation would be expected to precede eventual attack at 1.60 support.
Res: 1.6185; 1.6230; 1.6280; 1.6300
Sup: 1.6057; 1.6000; 1.5967; 1.5900
USDJPY
The pair remains well supported and continues to trend higher, with near-term price action establishing above 106 handle. Fresh gains post new 4-year highs, with upside targets at 107.20, Fibonacci 138.2% projection of the upleg from 100.81 and 108.28, Fibonacci 161.8% projection. Further gains are expected to open Sep 2008 high at 109.10, and lower top at 110.66, posted in Aug 2008. Initial supports lay at 106.00 and 105.70, where dips should ideally find footstep. Otherwise deeper pullback is expected to threaten 105.40, Fibonacci 61.8% of 104.67/106.55 and psychological 105 support, in extension.
Res: 105.70; 106.00; 106.20; 106.50
Sup: 106.00; 105.70; 105.00; 104.70
AUDUSD
Near-term structure remains bearish, with increased pressure eventually pushing the price through near-term bases at 0.9237 and 0.9200, as well as 0.9180, Fibonacci 38.2% retracement of 0.8658/ 0.9503 ascend/200SMA. This confirms an end of short-term congestion and further reversal off 0.9503 peak. The price is now looking for extension towards 0.9100, round-figure support and 0.9080, 50% retracement, ahead of 0.9050, weekly Ichimoku cloud base. Overall bearish structure supports the notion, with corrective attempts to face 200SMa as initial resistance, ahead of former bases at 0.92 and 0.9237.
Res: 0.9180; 0.9200; 0.9217; 0.9237
Sup: 0.9100; 0.9080; 0.9050; 0.9000
EURUSD
The Euro trades in near-term consolidative phase above fresh low at 1.2858, with hourly tone being in neutral mode, while overall sentiment remains negative. Yesterday’s corrective attempt rejection at 1.2962, under last Friday’s 1.2987 corrective low, shows the upside attempts limited for now and downside at risk, as yesterday’s trade ended in red. Near-term targets remain at 1.2786, Fibonacci 61.8% retracement of 2012/2014 1.2042/1.3992 ascend and 1.2750 zone, Mar/July 2013 lows, higher platform, once bears retake full control and resume larger downtrend off 1.3992, 08 May peak.
Res: 1.2962; 1.2987; 1.3000; 1.3044
Sup: 1.2882; 1.2858; 1.2800; 1.2786
GBPUSD
Cable ticked higher and made positive close yesterday, as corrective attempt off fresh low at 1.6050, so far tested initial 1.6230 barrier. This supports the notion of further corrective action, which was signaled by Doji, two days ago. However, overall bearish tone sees scope for fresh leg lower, once the pair completes corrective phase. Extended correction could move through 1.63 barrier, in case of violation of the next hurdle at 1.6278, last Friday’s low and Fibonacci 38.2% of 1.6642/1.6050 descend, with upside ticks expected to hold below 1.6416, Fibonacci 61.8% retracement.
Res: 1.6230; 1.6278; 1.6300; 1.6338
Sup: 1.6155; 1.6123; 1.6050; 1.6000
USDJPY
The pair continues to trend higher, with fresh bullish extension, cracking psychological 107 barrier, ahead of the immediate target at 107.20, Fibonacci 138.2% projection of the upleg from 100.81. The pair is looking for extension towards 108/110 zone in the near-term, with corrective pullbacks expected to interrupt rallies. Initial supports lay at 106.50 and 106.00, hourly higher base, which is expected to ideally contain dips.
Res: 107.20; 107.50; 108.00; 108.30
Sup: 106.50; 106.00; 105.70; 105.00
AUDUSD
The pair maintains bearish tone, as fresh acceleration through strong supports at 0.9237/00, posted fresh low at 0.9111. Yesterday’s close in red and below 200SMA, supports further descend, with corrective attempts, being capped at 0.9216. Weak near-term technicals favor retest of 0.9111, below which to open immediate targets at 0.9100, round-figure support and 0.9080, 50% retracement, ahead of 0.9050, weekly Ichimoku cloud base.
Res: 0.9200; 0.9216; 0.9237; 0.9260
Sup: 0.9141; 0.9111; 0.9100; 0.9080
EURUSD
The Euro holds below last Friday’s fresh recovery high, with positive near-term tone and Friday’s ticks higher, marking positive daily close, after the price broke above bear-trendline, drawn from 1.2987 high. Immediate price action, however, lacked momentum for further upside, despite gap-higher opening, as gains were pared after failure to clear last week’s high, which is ticks away from 05 Sep pivotal 1.2987 high. Friday’s closing level, also 38.2% retracement of 1.2907/1.2977 upleg, offers so far good support, above which fresh attempts towards 1.2987/1.3000 barriers, are expected to commence and confirm near-term recovery resumption on a break higher. Alternatively, loss of 1.2950 handle and broken bear-trendline at 1.2938, now acting as support, as well as 1.2930, bull-trendline, drawn off 1.2858 low / Fibonacci 38.2% of 1.2858/1.2977 upleg, would soften near-term tone and look for fresh retracement of near-term corrective rally.
Res: 1.2977; 1.2987; 1.3000; 1.3044
Sup: 1.2950; 1.2930; 1.2900; 1.2882
GBPUSD
Near-term price action trades in consolidative mode, with 1.62 support holding the downside, while fresh recovery peak at 1.6275, also daily Tenkan-sen line, caps for now. This keeps psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral/positive and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative and fundamentals are putting additional pressure on Sterling.
Res: 1.6275; 1.6300; 1.6338; 1.6357
Sup: 1.6200; 1.6184; 1.6155; 1.6123
USDJPY
The pair remains positive and closed above 107 handle, with weekly chart showing long green candle, which confirms overall bulls and further attempts towards 108/110, next target zone. Near-term price action holds in narrow-range, consolidative mode, with 107.00 offering initial support, ahead of 106.50. On the upside, 107.50 is initial barrier, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81.
Res: 107.50; 108.00; 108.28; 109.00
Sup: 107.00; 106.50; 106.00; 105.70
AUDUSD
The pair maintains negative tone, with additional pressure seen on weekly gap-lower opening, which brought the price below psychological 0.90 support. Long red previous week’s candle and retracement of 61.8% of 0.8658/0.9503 ascend, supports the notion of further weakness and potential attempts to fully retrace 0.8658/0.9503 rally. Corrective rallies are for now expected in light mode, with session highs at 0.9015, offering initial barrier, ahead of last week’s closing levels at 0.9040, where the next strong resistance lies.
Res: 0.9000; 0.9015; 0.9040; 0.9071
Sup: 0.8980; 0.8950; 0.8923; 0.8900
EURUSD
The Euro continues to trade in a sideways mode, capped for now under 1.2977/85 barriers, with corrective pullbacks being contained above 1.29, round-figure support / Fibonacci 61.8% of 1.2858/1.2977 corrective rally. Neutral near-term studies see scope for further consolidation, while overall negative tone, renewed with yesterday’s close in red, suggests fresh leg lower after completion of near-term consolidative phase. Strong barriers at 1.2977/85, as well as psychological 1.3000 resistance, keep the upside limited for now and only break above the latter would revive near-term bears for stronger bounce, which would sideline attempts towards short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2750 higher base.
Res: 1.2958; 1.2977; 1.2987; 1.3000
Sup: 1.2920; 1.2900; 1.2882; 1.2858
GBPUSD
Cable’s near-term price action remains in consolidative mode, with immediate tone showing signs of weakness, as the price action moves towards the consolidation floor at 1.62 zone, after yesterday’s close in red. Recovery peak at 1.6275, has so far limited the upside action, keeping psychological 1.63 barrier and previous week’s closing level and the upper limit of 08 Sep opening gap, intact. Near-term studies are neutral and unless 1.63 hurdle is taken out, which would allow for stronger recovery and confirm near-term bottom, risk will remain at the downside, as overall picture remains negative.
Res: 1.6249; 1.6275; 1.6300; 1.6338
Sup: 1.6200; 1.6184; 1.6155; 1.6123
USDJPY
The pair remains positive overall, with near-term price action moving in consolidative mode, which was signaled by yesterday’s Doji candle. Important 107 support holds for now, despite brief probe below overnight, keeping immediate focus at the upside, for test of initial target at 107.50, ahead of 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, however, should be contained at 106.50/35 zone, to keep bulls unharmed.
Res: 107.38; 107.50; 108.00; 108.28
Sup: 106.92; 106.50; 106.35; 106.00
AUDUSD
The pair maintains negative tone, with near-term corrective action off fresh low at 0.8982, being capped at 0.9050, by descending hourly 55SMA. Fresh weakness below 0.90 handle, confirms bears are in play, for fresh extension towards the next target at 0.8889, 02 Mar higher low, with full retracement of 0.8658/0.9503 ascend, being in play. Only fresh strength above 0.9050 would sideline immediate bears for stronger corrective attempt.
Res: 0.9000; 0.9020; 0.9050; 0.9071
Sup: 0.8980; 0.8950; 0.8923; 0.8900
EURUSD
Near-term tone is positively aligned and sees the upside targets at 1.3000/1.3040 zone, round figure / 50%/61.8% retracement of 1.3153/1.2858 downleg in focus, as the price ticked higher, approaching initial 1.30 barrier. These levels are seen as turning points and sustained break would signal stronger recovery action in the near-term. Broken-bull-trendline off Nov 2012 low, now offer support and would keep afloat bulls, developing on lower timeframes charts. On the other side, overall picture remains negative, with downside risk towards 1.2786/50 targets, expected to remain in play, as long as 1.3153 lower top and breakpoint stays intact.
Res: 1.2977; 1.2993; 1.3000; 1.3040
Sup: 1.2930; 1.2900; 1.2882; 1.2858
GBPUSD
Cable regained strength in near-term action off 1.6159, yesterday’s correction low and cracked important 1.63 barrier. Bulls are coming in play on lower timeframes, which supports attempts through 1.63 hurdle, clear break of which is required to resume recovery rally off 1.6050, low of 10 Sep. However extension above 1.6340 is needed to fill the gap of 08 Sep and confirm recovery action, which will also neutralize bearish engulfing pattern, developing on the daily chart, which requires extension below yesterday’s low at 1.6159, to confirm reversal.
Res: 1.6309; 1.6338; 1.6416; 1.6463
Sup: 1.6247; 1.6210; 1.6184; 1.6159
USDJPY
The pair remains positive and regains levels above 107, with near-term price action continuing to move in consolidative mode, off fresh high at 107.38. This keeps immediate focus at the initial target at 107.50, to signal an end of consolidative phase and open 108.28, Fibonacci 161.8% projection of the upleg from 100.81. Extended dips, are expected to hold above 106.50/35 support zone, to keep bulls intact, as the pair is looking for extension towards 108/110 zone in the near term.
Res: 107.38; 107.50; 108.00; 108.28
Sup: 106.79; 106.50; 106.35; 106.00
AUDUSD
The pair holds overall negative tone, with near-term corrective action off fresh low at 0.8982, accelerating after clearance of initial 0.9050 barrier. Hourly studies improved on a probe above 0.91 barrier and see room for further recovery action, as the rally cracked pivotal 0.9100/26, 50%/61.8% retracement of 0.9216/0.8982 zone. Sustained break above the latter to confirm hourly double-bottom formation, revive bulls on still weak 4-hour studies and spark further recovery, which would expose 200SMA at 0.9181. Alternatively, false break through 0.91 barrier, would re-focus 0.9050, now acting as support and risk return to the lows below 0.90 handle.
Res: 0.9110; 0.9126; 0.9160; 0.9181
Sup: 0.9059; 0.9050; 0.9000; 0.8980
EURUSD
The Euro accelerated lower post Fed and erased gains of corrective 1.2858.1.2993 rally, with lower top left at 1.2993. This confirms 1.30 zone as strong barrier, as break below previous low at 1.2858, shifts focus towards 1.2800, round-figure support and short-term targets at 1.2786, Fibonacci 61.8% retracement of 1.2042/1.3992 and 1.2750 higher base. Near-term technicals turned bearish and support the notion, with corrective attempts off fresh session lows, ideally to be capped at 1.29 zone, near 50% of 1.2978/1.2832 downleg.
Res: 1.2888; 1.2900; 1.2920; 1.2942
Sup: 1.2852; 1.2832; 1.2800; 1.2786
GBPUSD
Cable remains steady and returns to 1.63 zone, which was broken on yesterday’s extension to 1.6356. Subsequent corrective action found support at 1.6245, to signal an end of corrective action and fresh attempt higher, which would look for clearance of 1.6380, daily 20SMA and levels above 1.64 barrier, Fibonacci 61.8% of 1.6642/1.6050, to confirm recovery. Near-term studies hold positive tone and support scenario, however, negative larger picture technicals and yesterday’s Doji candle, require caution, as failure to regain fresh highs and weakness which would violate 1.6245 support, would signal an end of corrective phase and shift near-term focus lower.
Res: 1.6356; 1.6380; 1.6416; 1.6464
Sup: 1.6245; 1.6200; 1.6159; 1.6100
USDJPY
The pair resumes larger rally after completing near–term consolidation phase, with fresh strength of the dollar, establishing the price above 108 level. Fresh bulls are approaching initial 109 barrier, ahead of next levels at 109.50 and psychological 110.00, en-route towards 110.66, Aug 2008 peak. Overbought near-term studies suggest corrective action ahead of fresh rally. Higher lows at 107 zone, should ideally contain pullbacks.
Res: 108.85; 109.00; 109.50; 110.00
Sup: 108.36; 108.00; 107.58; 107.28
AUDUSD
The pair’s hourly structure returned to bearish mode, after recovery rejection at 0.9110 and fresh weakness, which again took out psychological 0.9000 support. With 4-hour and daily studies maintaining negative tone and yesterday’s long red candle, focus remains firmly lower. Fresh leg lower, which commenced from 0.9110 lower top, could travel to 0.8848, its Fibonacci 61.8% expansion, initially, with extension to 0.8682, 100% expansion, to signal possible full retracement of 0.8658/0.9503 ascend.
Res: 0.9000; 0.9020; 0.9045; 0.9082
Sup: 0.8937; 0.8900; 0.8848; 0.8800
EURUSD
The Euro posted marginally lower low at the beginning of the week, pointing towards initial 1.28 support and short-term targets at 1.2786, Fibonacci 61.8% of 1.2042/1.3992 and 1.2754/44 higher base. Fresh extension lower signal that the third wave off 1.3699 lower top of 01 July, is not completed yet and could travel towards 1.2675, its 200% expansion. Further downside is favored for now with the notion being supported by weekly bearish engulfing pattern. However, overextended daily studies require caution, as indicators are starting to reverse, with confirmation of corrective action seen on a break above last Thu/Fri lower platform at 1.2928, near 61.8% of 1.2978/1.2824 descend. Extension higher to open 1.30 breakpoint zone, for more significant upside action, expected on a break.
Res: 1.2883; 1.2900; 1.2928; 1.2980
Sup: 1.2824; 1.2800; 1.2786; 1.2754
GBPUSD
Last Friday’s strong pullback from fresh recovery high at 1.6522, retraced 50% of entire 1.6050/1.6522 rally and over 61.8% of 1.6159/1.6500 upleg, on a dip to 1.6284. Temporary support was found here, as reversal was so far contained above bull-trendline drawn off 1.6050 low, which keeps 4-hour structure in bullish mode so far, with regain of levels above 1.64 barrier, required to re-focus 1.6522 and open key barriers above 1.66. On the other side, weakened hourly structure, along with last Friday’s close in red, see risk of further downside, which requires break below trendline support at 1.6280 and extension below 1.6230, Fibonacci 61.8% of 1.6050/1.6522 upleg, to confirm negative scenario.
Res: 1.6375; 1.6400; 1.6431; 1.6468
Sup: 1.6284; 1.6231; 1.6200; 1.6159
USDJPY
Overall bulls remain in play, as the pair broke above 109 and posted fresh high at 109.42. Positive daily and weekly close is supportive for eventual push towards psychological 110 barrier and 110.66, Aug 2008 peak, short-term targets. Corrective dips are so far contained at 108.65, just above last Friday’s low at 108.57 and 108.42, Fibonacci 38.2% of 106.98/109.42, where consolidative action should ideally find footstep. Otherwise, easing below 108 handle, is expected to signal stronger correction and delay immediate bulls.
Res: 109.17; 109.42; 110.00; 110.66
Sup: 108.60; 108.42; 108.00; 107.80
AUDUSD
The pair remains under pressure and attempts at 0.89 support, signaling an end of consolidative 0.8925/0.8995 phase. Near-term technicals maintain negative tone, with the notion of further extension of the downleg from 0.9110 lower top, being supported by last Friday’s Outside Day candle. Break below 0.89 handle, opens 0.8857, Fibonacci 76.4% of 0.8658/0.9503 ascend and 0.8846, 05 Aug 2013 low, the last obstacles en-route towards 0.8658, 24 Jan 2014 low. Corrective actions should ideally stay capped by 0.90 barrier, while only break here would signal extended corrective action and delay immediate bears.
Res: 0.8948; 0.9000; 0.9040; 0.9079
Sup: 0.8900; 0.8846; 0.8819; 0.8800
EURUSD
The Euro continues to gradually move lower on approach to initial targets at 1.2800, round figure support and more significant 1.2786, Fibonacci 61.8% of 1.2042/1.3992 ascend and higher base of Mar/July 2013 at 1.2754/44. Overall picture remains bearish and sees further downside favored, with extension below 1.2744, expected to open 1.2660, Nov 2012 low, the last significant obstacle on the way towards 1.2042, low of 2012. Lower timeframes studies show negative tone prevailing on 4-hour chart and consolidation above 1.28 handle, marked by neutral hourly technicals. Consolidation high at 1.2866, offers initial resistance zone, reinforced by bear-trendline, drawn off 1.2978, along with 1.2877, Fibonacci 38.2% of 1.2978/1.2815 downleg. More significant barrier lies above 61.8% retracement at 1.2928 lower platform, clearance of which to expose 1.30 breakpoint. Overextended daily studies, with RSI / MACD bullish divergence developing, suggest corrective action in the near-term.
Res: 1.2877; 1.2900; 1.2928; 1.2978
Sup: 1.2841; 1.2815; 1.2800; 1.2786
GBPUSD
Cable’s rally off 1.6284, 19 Sep corrective pullback’s low, lost traction on approach to 1.64 barrier, bringing near-term focus again at lower targets. Retest of 1.63, round-figure support and bull-trendline, drawn off 1.6050 low, sees increased risk of attack at 1.6284, with break lower to signal resumption of near-term descend from 1.6522 and expose 1.6231, Fibonacci 61.8% of 1.6050/1.6522 and 1.6159, 16 Sep higher low. On the other side, holding above the trendline support, would keep hopes of fresh attempts higher in play. Regain 1.64 handle is seen as minimum requirement to confirm bullish scenario.
Res: 1.6389; 1.6400; 1.6431; 1.6479
Sup: 1.6300; 1.6284; 1.6230; 1.6200
USDJPY
The pair trades in near-term consolidative mode, under fresh high at 109.42, posted last week. Near-term risk of further hesitation ahead of short-term targets at psychological 110 and 110.66, Aug 2008 peak increases, as hourly structure is weakening and consolidation floor at 108.57, was taken out. The notion is supported by yesterday’s Inside Day candle, which suggests a pause ahead of 110.00/110.66 targets. Fresh weakness could extend to 108/ 107.80, round-figure / Fibonacci 61.8% of 106.79/109.42 ascend, with strong support and breakpoint, lying at 107 zone.
Res: 108.57; 108.83; 109.00; 109.18
Sup: 108.23; 108.00; 107.80; 107.50
AUDUSD
The pair corrects higher after yesterday’s fresh weakness through 0.89 handle, reached new low at 0.8851, coming ticks away from initial target at 0.8846, Fibonacci 61.8% expansion of the wave from 0.9110 / 05 Aug 2013 low. Overall negative structure keeps the downside in focus, with near-term targets at 0.88, then 0.8783, Fibonacci 76.4% expansion and 0.8682, 100% expansion, ahead of key short-term support at 0.8658, 24 Jan 2014 low. Corrective actions should be ideally capped under 0.90 barrier, while only break here would signal stronger corrective action and delay immediate bears.
Res: 0.8921; 0.8950; 0.8990; 0.9011
Sup: 0.8846; 0.8819; 0.8800; 0.8783
EURUSD
The Euro holds negative tone, as weekly close in red and below Fibonacci 61.8% of larger 1.2042/1.3992 ascend, confirms strong bearish stance. Break below 1.27 support comes ticks away from 1.2660, Nov 2012 low, the last strong obstacle en-route towards 1.2042, which is expected to come in near-term focus on a break and close below 1.2660. The third wave, off 1.3699 lower top, met its 200% expansion target at 1.2675 and would look for further extension towards 1.2360, Fibonacci 261.8% expansion, ahead of 1.2042 target. Corrective actions on oversold near-term studies face initial resistance at 1.27 level and should be ideally capped under 1.2760 lower platform
Res: 1.2700; 1.2760; 1.2800; 1.2815
Sup: 1.2660; 1.2600; 1.2550; 1.2500
GBPUSD
Cable consolidates above fresh lows just above 1.62 support, following break below important 1.63 level and daily/weekly close below. Overall negative structure sees the downside favored, with key near-term term target at 1.6000, psychological support / 50% retracement of larger 1.4812/1.7189 ascend. The pair rides on the third wave, which commenced from 1.6413 lower top and is looking for 1.6175, its 100% Fibonacci expansion, then 1.6084, 138.2% expansion, ahead of 1.6050, 10 Sep low, on the way towards 1.6000 target. Corrective attempts should stay under 1.6300/40 barriers, to keep the structure intact.
Res: 1.6251; 1.6275; 1.6300; 1.6339
Sup: 1.6211; 1.6200; 1.6175; 1.6159
USDJPY
Near-term bulls are back in play after the price broke above 109.42, previous high, confirming an end of near-term consolidative phase. Price action is looking for test of near-term targets at psychological 110 and 110.66, Aug 2008 peak. Fresh action higher is signaled by last Friday’s bullish Engulfing Pattern, which suggests further upside. Extension above 110.66 to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Previous range tops offer initial support, ahead of 109, round-figure and 108.46, 26 Sep higher low, above which dips should find footstep.
Res: 109.73; 110.00; 110.66; 111.00
Sup: 109.42; 109.00; 108.46; 108.23
AUDUSD
The pair continues to trend lower, with 0.87, round-figure support, being cracked and the price met the next target at 0.8682, Fibonacci 100% expansion of the wave from 0.9110. Bears are looking for final push towards key 0.8658, low of 24 Jan, to mark full retracement of 0.8958/0.9503 ascend. The third wave could extend to 0.8519, its 138.2% expansion, once 0.8658 is taken out, however, oversold near-term technicals suggest a hesitation ahead of key 0.8658 support. Psychological 0.90 level, offers good resistance and should keep the upside attempts limited.
Res: 0.8746; 0.8810; 0.8829; 0.8895
Sup: 0.8682; 0.8658; 0.8600; 0.8550
EURUSD
The Euro trades above fresh low at 1.2662, posted yesterday, entering consolidative phase, which was signaled by yesterday’s Doji candle and close above 1.2660, Nov 2012 low. Falling hourly 55SMA limits the upside for now, as the pair failed to clearly break initial resistance at 1.2700/10 zone. Near-term studies are weak and keep the downside vulnerable, however, oversold daily conditions, suggest more significant corrective action, before fresh weakness. Bullish action through strong barriers at 1.2700/10 and 1.2753/60, Fibonacci 38.2% of 1.2900/1.2662 / 25/26 Sep lower platform, is required to confirm correction. Otherwise, violation of 1.2662 low, would open psychological 1.26 support and immediate target, for test.
Res: 1.2713; 1.2760; 1.2780; 1.2810
Sup: 1.2680; 1.2662; 1.2630; 1.2600
GBPUSD
Cable left Doji candle yesterday, confirming near-term consolidative phase above fresh low, near
1.62 support. Overall structure is negative and favors further downside, focusing key near-term term target at 1.6000, psychological support / 50% retracement of larger 1.4812/1.7189 ascend. Descend off 1.6522, 19 Sep high, has so far retraced over 61.8% of 1.6050/1.6522, with higher low of 16 Sep at 1.6159 and 1.6050, 10 Sep low, seen as significant supports on the way towards 1.6000 target. Upside attempts were so far capped under psychological 1.63 barrier, which, along with 1.6330, Fibonacci 38.2% of 1.6522/1.6211 / 25/26 Sep lower platform, marks strong resistance. Only break above the latter would sideline bears and sparks stronger corrective action.
Res: 1.6275; 1.6300; 1.6339; 1.6367
Sup: 1.6211; 1.6200; 1.6175; 1.6159
USDJPY
The pair consolidates fresh gains above previous congestion tops, ahead of near-term targets at psychological 110 and 110.66, Aug 2008 peak. Fresh action higher was signaled by last Friday’s bullish Outside Day, with clearance of 110.00/ 110.66, to focus 112.67, Fibonacci 76.4% of 124.14/75.55 descend. Psychological 109 level, offers initial support and contains for now, ahead of 108.46, 26 Sep higher low, above which extended dips should find support.
Res: 109.73; 110.00; 110.66; 111.00
Sup: 109.12; 109.00; 108.46; 108.23
AUDUSD
The pair remains negative overall, with near-term price action entering consolidative/corrective phase, above fresh low at 0.8682, also Fibonacci 100% expansion of the wave from 0.9110, on approach to key level and short-term target at 0.8658. Basing attempt is seen on hourly chart, where studies are gaining traction. The price attempts through 0.8760, Fibonacci 38.2% of 0.8886/0.8619 downleg, with break here and regain of psychological 0.88 barrier, also Fibonacci 61.8% retracement, required to pause bears for stronger correction. Otherwise, fresh bears are expected to eventually fully retrace 0.8658/0.9503 ascend, with break lower to drive the third wave off 0.9110, towards 0.8519, its 138.2% Fibonacci expansion.
Res: 0.8765; 0.8784; 0.8810; 0.8829
Sup: 0.8692; 0.8682; 0.8658; 0.8600