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

0700 , analysis , brokers , gmt , majors , short , technical , term , windsor

The Euro consolidates above 1.35 **** / trendline support, which was cracked last Friday, on a spike to 1.3489. Te break was short-lived, with near-term indecision confirmed by double Doji candle. Mixed near-term studies confirm the sideways mode, as hourlies gained some strength and retraced 38.2% of 1.3639/1.3496 descend, while 4-hour structure remains negative. This sees corrective attempts limited, as larger picture remains bearish and favor eventual clear break of pivotal 1.35/1.3475 support zone, to trigger fresh weakness. Former lows that form layers of resistances between 1.3465 and 1.3485, should serve as solid resistances, before the pair commences fresh leg lower. Alternatively, lift above 1.36 handle would delay attempts at 1.35 **** for stronger recovery, with pivotal barriers at 1.3639/49 lower tops.

Res: 1.3538; 1.3563; 1.3575; 1.3585

Sup: 1.3522; 1.3502; 1.3489; 1.3475

Cable holds negative near-term tone, as corrective phase off fresh high at 1.7189, fully retraced 1.7057/1.7189 upleg and extended weakness to 1.7034, fresh low, posted last Friday. This sees scope for fresh attempts lower and test of psychological 1.7000 support, as lower timeframe’s studies turned bearish after false break higher, with corrective rallies seen ahead of fresh weakness and ideally to be capped at 1.7100/10 zone, lower top and 38.2% / 50% retracement of 1.7189/1.7034 descend. Loss of 1.70 handle, also Fibonacci 38.2%, to open way for further retracement of 1.6697/1.7189 upleg.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair maintains overall negative tone after recovery rejection at 101.78 failed to test pivotal 101.85/102 barriers and fresh weakness retested 101.05 low. Downside pressure persists and sees eventual push below psychological 101 support, for test of critical 100.81/74 support, below which to commence fresh bear-leg, resumption of larger downmove off 105.43, 02 Jan peak. Corrective rally was so far capped at 101.43, 50% of 101.78/101.07 descend, with more significant results, requiring break above 101.85/102 hurdles, to sideline overall bears.

Res: 101.43; 101.56; 101.78; 101.85

Sup: 101.18; 101.05; 100.81; 100.74

The pair trades in near-term range mode after upside attempts were limited at 0.94 zone, with the downside being protected strong 0.9320 support and short-term ****, also daily cloud top. Improved near-tem studies on a rally from marginally higher low at 0.9334, keep the price at the upper part of the range, with attempts above 0.94 handle seen in play in the near-ter. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9327; 0.9320; 0.9300; 0.9250

The Euro continues to trade in consolidative mode above 1.35 **** / main bull-trendline off 1.2042 low, strong support which was cracked last Friday, on a spike lower to 1.3489. The pair failed to sustain break and entered narrow–range sideways trade, after limited recovery attempt, being capped at 1.3547, Fibonacci 38.2% retracement of 1.3639/1.3489 downleg. Triple Doji candle confirms near-term indecision. Hourly studies are neutral, while 4-hour structure remains negatively aligned, suggesting further downside as favored scenario, on completion of limited corrective actions. Fresh leg lower requires clear break below 1.35 handle and 1.3475, 03 Feb low, to confirm bearish resumption and enter stronger correction of larger 1.2042, July 2012 low / 1.3992, May 2014 peak. Extended correction above 1.3547, to face strong barrier at 1.3575/85, former lows and Fibonacci 61.8% retracement of 1.3690/1.3489 descend, where rallies should be ideally capped, while break here would delay bears and open key lower tops at 1.3639/49, 14/10 July highs.

Res: 1.3547; 1.3575; 1.3585; 1.3626

Sup: 1.3512; 1.3502; 1.3489; 1.3475

Cable holds negative near-term tone and consolidates losses off 1.7189 peak, which posted fresh low at 1.7034 on 18 July. Upside attempts stay so far limited at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are weak and support further descend. Alternatively, clear break above 1.71 handle to delay bears and confirm prolonged sideways movements.

Res: 1.7100; 1.7115; 1.7148; 1.7166

Sup: 1.7075; 1.7057; 1.7034; 1.7000

The pair extends near-term recovery off 101.05, after leaving higher low at 101.22 and extending above previous high at 101.43. Rally retraced over 61.8% of 101.78/101.05 descend, seeing potential for attempt at the first pivot at 101.78, break of which to confirm double bottom formation and pen way for stronger recovery, which also requires lift above 101.85 lower top / 55/200SMA death-cross. Overbought hourly studies suggest a pause in current rally, with increased downside risk seen on extension below 101.35, 38.2% of 101.07/101.56 / 20/55SMa bull-cross. However, overall negative structure so far sees upside actions limited and downside favored, while 101.85/102.25 barriers stay intact.

Res: 101.56; 101.78; 101.85; 102.00

Sup: 101.43; 101.26; 101.18; 101.05

The pair trades in near-term range mode, with the upside so far being limited at 0.94 zone and the downside protected at strong 0.9320 support and short-term ****, also daily Ichimoku cloud top. Improved near-tem studies on a rally from 0.9334, which left higher low at 0.9358, keep the price at the upper part of the range, with attempts above 0.94 handle seen as favored in the near-term. Break higher requires confirmation on regain of 0.9454 spike high, to confirm break into the upper part of short-term 0.9320/0.9503 range and open key 0.9503 peak for retest.

Res: 0.9408; 0.9436; 0.9454; 0.9503

Sup: 0.9358; 0.9327; 0.9320; 0.9300

The Euro establishes below 1.35 handle and continues to move lower after closing below pivotal support and brief consolidation, which occurred before fresh push lower. Overall bearish structure keeps the downside focused, with immediate target at psychological 1.34 level and 1.3294, 07 November 2013 higher low, seen in extension. Corrective rallies on oversold conditions are expected to pause descend. Consolidative range high at 1.3472, offers immediate resistance, ahead of 1.35, previous **** and broken bull-trendline at 1.3530, while lower top at 1.3547, is expected to cap rallies.

Res: 1.3472; 1.3500; 1.3530; 1.3547

Sup: 1.3436; 1.3400; 1.3350; 1.3294

Cable maintains negative near-term tone and continues extend descend off 1.7189 peak, after breaking below 1.7034 18 July low. Upside attempts were capped at 1.71 barrier that keeps downmove off 1.7189 intact, for test of psychological 1.7000 support and deeper pullback, seen on sustained break lower. Near-term technicals are bearish and support further downside, with consolidative actions seen preceding fresh push lower. Alternative scenario requires, clear break above 1.71 handle to avert immediate downside risk.

Res: 1.7081; 1.7100; 1.7115; 1.7148

Sup: 1.7020; 1.7000; 1.6950; 1.6933

The pair trades in near-term sideways mode after recovery phase off 101.05 low was limited at 101.59. Repeated upside failure weakens hourly structure, while 4-hour tone is negative. Upside resumption requires lift above initial 101.59 barrier and pivotal lower tops at 101.78/85, to bring bulls fully in play, otherwise increased downside risk could be expected on a loss of initial 101.30 support, also near-term consolidation floor. Break lower to re-focus strong 101.05 and

Res: 101.59; 101.78; 101.85; 102.00

Sup: 101.30; 101.18; 101.05; 100.81

The pair moves higher and eventually broke above 0.9454, 10 July spike high, retracing over 76.4% of 0.9503/0.9327 descend. This opens way for final push towards key 0.9503 barrier and peak of 01 July, clearance of which to signal an end of corrective phase and resumption of larger uptrend. Consolidative/corrective action s on overbought near-term studies are expected to precede fresh push higher, with dips to be ideally contained at 0.94 handle, to keep bulls intact.

Res: 0.9498; 0.9503; 0.9550; 0.9600

Sup: 0.9417; 0.9400; 0.9378; 0.9358

Res: 1.3445, 1.3475, 1.3500

Sup: 1.3315, 1.3340, 1.3365

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/GBPUSDH1_20140804084741.png[/IMG]

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/USDJPYH1_20140804084802.png[/IMG]

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/GOLDH1_20140804084822.png[/IMG]

Res: 1.3425, 1.3445, 1.3475,

Sup: 1.3340, 1.3315, 1.3295

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/GBPUSDH1_20140806071025.png[/IMG]

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/USDJPYH1_20140806071041.png[/IMG]

[IMG]http://mediaserver.fxstreet.com/Reports/325f5b3f-7a7d-4768-8193-afec3573778f/GOLDH1_20140806071101.png[/IMG]