Slobodan Drvenica
Windsor Brokers
EURUSD
The Euro came under pressure after yesterday’s recovery extension above three-day congestion tops stalled at 1.0828 and today’s renewed upside attempts were capped at 1.0816. Falling 10SMA, which limited recovery action, marks strong resistance, which is expected to ideally cap and keep intact daily Tenkan-sen at 1.0850.
Bearish daily structure and weakening near-term technicals, favor fresh downside, as the pair so far ignores reversed daily slow Stochastic that shows more room for correction.
Near-term breakpoint lies at 1.0900/20 zone, lower platform / bear-trendline, connecting 1.1712 and 1.1458 tops. Only sustained break here would sideline bears for stronger correction of larger downleg from 1.1094, 28 Oct lower top.
Res: 1.0800; 1.0828; 1.0850; 1.0900
Sup: 1.0732; 1.0700; 1.0673; 1.0658
GBPUSD
Four-day recovery off 1.5026 low was capped by falling daily 10SMA and Tenkan-sen line, which currently lay at 1.5235 and mark the first layer of strong resistance zone, between here at 1.5300.
Daily Kijun-sen lies at 1.5266, followed by daily Ichimoku cloud base and 20/30SMA’s bear cross at 1.5300, with any extension higher, expected to hold below.
Bearish overall structure favors fresh downside attempts, possible return to 1.5026 base is on the table, as daily studies maintain firm bearish tone.
Only sustained break above 1.53 barrier would sideline bears and allow for further retracement of 1.5495/1.5025 downleg.
Res: 1.5235; 1.5245; 1.5266; 1.5300
Sup: 1.5172; 1.5135; 1.5109; 1.5077
USDJPY
Pullback from 123.59, 09 Nov peak, is attempting to form base at 122.48, yesterday’s low, ahead of strong supports at 122.31, Fibonacci 38.2% of 120.24/123.59 upleg, reinforced by rising daily 10SMA and 120.09, rising daily Tenkan-sen line, which is expected to contain corrective action.
Overall bullish tone favors fresh attempts higher, after completion of current corrective phase, for final attack at 124.14 target, peak of June 2007.
Res: 123.06; 123.42; 123.59; 124.14
Sup: 122.48; 122.31; 120.09; 121.52
AUDUSD
Aussie maintains bullish near-term sentiment which was regained on yesterday’s data-driven strong rally that peaked at 0.7152. Consolidation under fresh high is under way and so far contained by daily Tenkan-sen line at 0.7118, keeping intact rising daily Ichimoku cloud base, currently at 0.7097.
While the latter supports hold, fresh upside attempts remain favored, as recovery action from 0.7014 low, gained initial bullish signals on penetration of daily Ichimoku cloud base and break above daily Tenkan-sen / 10SMA.
However, next strong barrier, daily 20SMA, which so far capped recovery and currently lies at 0.7145, needs to be cleared, for recovery resumption.
Near-term studies are positive, however, downside risk remains in play, as daily technicals are bearish. Prolonged consolidation could be expected while 20SMA caps, while lower top formation and reversal will be signaled on sustained break below daily Ichimoku cloud base.
Res: 0.7152; 0.7170; 0.7197; 0.7222
Sup: 0.7118; 0.7097; 0.7083; 0.7067
The Euro came under pressure after yesterday’s recovery extension above three-day congestion tops stalled at 1.0828 and today’s renewed upside attempts were capped at 1.0816. Falling 10SMA, which limited recovery action, marks strong resistance, which is expected to ideally cap and keep intact daily Tenkan-sen at 1.0850.
Bearish daily structure and weakening near-term technicals, favor fresh downside, as the pair so far ignores reversed daily slow Stochastic that shows more room for correction.
Near-term breakpoint lies at 1.0900/20 zone, lower platform / bear-trendline, connecting 1.1712 and 1.1458 tops. Only sustained break here would sideline bears for stronger correction of larger downleg from 1.1094, 28 Oct lower top.
Res: 1.0800; 1.0828; 1.0850; 1.0900
Sup: 1.0732; 1.0700; 1.0673; 1.0658
GBPUSD
Four-day recovery off 1.5026 low was capped by falling daily 10SMA and Tenkan-sen line, which currently lay at 1.5235 and mark the first layer of strong resistance zone, between here at 1.5300.
Daily Kijun-sen lies at 1.5266, followed by daily Ichimoku cloud base and 20/30SMA’s bear cross at 1.5300, with any extension higher, expected to hold below.
Bearish overall structure favors fresh downside attempts, possible return to 1.5026 base is on the table, as daily studies maintain firm bearish tone.
Only sustained break above 1.53 barrier would sideline bears and allow for further retracement of 1.5495/1.5025 downleg.
Res: 1.5235; 1.5245; 1.5266; 1.5300
Sup: 1.5172; 1.5135; 1.5109; 1.5077
USDJPY
Pullback from 123.59, 09 Nov peak, is attempting to form base at 122.48, yesterday’s low, ahead of strong supports at 122.31, Fibonacci 38.2% of 120.24/123.59 upleg, reinforced by rising daily 10SMA and 120.09, rising daily Tenkan-sen line, which is expected to contain corrective action.
Overall bullish tone favors fresh attempts higher, after completion of current corrective phase, for final attack at 124.14 target, peak of June 2007.
Res: 123.06; 123.42; 123.59; 124.14
Sup: 122.48; 122.31; 120.09; 121.52
AUDUSD
Aussie maintains bullish near-term sentiment which was regained on yesterday’s data-driven strong rally that peaked at 0.7152. Consolidation under fresh high is under way and so far contained by daily Tenkan-sen line at 0.7118, keeping intact rising daily Ichimoku cloud base, currently at 0.7097.
While the latter supports hold, fresh upside attempts remain favored, as recovery action from 0.7014 low, gained initial bullish signals on penetration of daily Ichimoku cloud base and break above daily Tenkan-sen / 10SMA.
However, next strong barrier, daily 20SMA, which so far capped recovery and currently lies at 0.7145, needs to be cleared, for recovery resumption.
Near-term studies are positive, however, downside risk remains in play, as daily technicals are bearish. Prolonged consolidation could be expected while 20SMA caps, while lower top formation and reversal will be signaled on sustained break below daily Ichimoku cloud base.
Res: 0.7152; 0.7170; 0.7197; 0.7222
Sup: 0.7118; 0.7097; 0.7083; 0.7067
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.
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