Slobodan Drvenica
Windsor Brokers
EURUSD
Near-term price action comes under pressure and pulls back from 200SMA at 1.1029, which capped yesterday’s repeated attempt higher.
Yesterday’s close in red, signals fresh downside pressure, as descending daily cloud, currently at 1.1080, continues to weigh. Also, daily slow Stochastic is reversing from overbought territory, which gives bearish signal.
Daily indicators are bullish, but mixed setup of daily MA’s, keeps the downside vulnerable.
Yesterday’s low at 1.0923, offers good support and so far prevents deeper correction towards 1.0877, 09 Dec low and 1.0841, Fibonacci 38.2% of 1.0519/1.1041
Daily 55SMA offers initial resistance at 1.0971, guarding pivotal 200SMA / daily cloud base resistance zone and while the latter holds, extended consolidation could be expected.
Res: 1.0971; 1.1000; 1.1029; 1.1041; 1.1060
Sup: 1.0923; 1.0888; 1.0839; 1.0794
GBPUSD
Strong rally of 09 Dec, extended briefly yesterday and posted marginally higher high at 1.5200, but failed to sustain gains. Yesterday’s trade closed in red and below descending daily 30SMA, which continues to cap, despite being cracked in repeated attempts higher.
Near-term price action is holding between daily 20 and 30SMA’s, which mark initial support and resistance at 1.5122/1.5160.
Daily studies remain bearishly aligned and further easing could be expected while 30SMA caps. Also stronger correction could be anticipated on daily close below daily 20SMA.
Key support lies at 1.5000, psychological level / Fibonacci 61.8% of 1.4892/1.5200 rally.
Weakening near-term bulls require sustained break above 1.5200 barrier, to regain full power and focus targets at 1.5317/34, 200SMA / 19 Nov lower top.
Res: 1.5200; 1.5230; 1.5284; 1.5317
Sup: 1.5122; 1.5109; 1.5082; 1.5046
USDJPY
The pair recovered ground, bouncing from fresh low at 121.06, posted after sharp fall, two days ago. Corrective rally regained levels above 121.56, 200SMA, but so far unable to sustain gains above 122 handle, keeping initial barrier at 122.35, daily Tenkan-sen line, intact.
This may bring near-term price action under pressure again, with return below 200SMA, seen as strong bearish signal.
However, thickening daily Ichimoku cloud, which lies ticks above 121.06 low, is expected to offer good support.
On the upside, pivotal barrier lies at 122.75, daily 20SMA and only sustained break here will neutralize downside threats.
Res: 122.20; 122.35; 122.58; 122.75
Sup: 121.51; 121.06; 120.89; 120.22
AUDUSD
Aussie came under pressure and accelerated lower, after being unable to sustain yesterday’s recovery extension, which stalled at 0.7332. Increased downside pressure was signaled by yesterday’s candle with long upper shadow and today’s fresh bearish extension that dipped below Fibonacci 61.8% of two-day 0.7170/0.7332 recovery and also cracked rising daily 20SMA at 0.7228.
However, daily studies are bullishly aligned and would support fresh attempt higher, while daily 20 SMA holds. Such scenario requires regain of 0.7332 peak, to signal fresh attempt at key 0.7380 barrier.
Otherwise, daily close below 20SMA, will re-open 0.7170, near-term higher base and pivotal support, for test.
Res: 0.7270; 0.7300; 0.7332; 0.7360
Sup: 0.7220; 0.7188; 0.7170; 0.7101
Near-term price action comes under pressure and pulls back from 200SMA at 1.1029, which capped yesterday’s repeated attempt higher.
Yesterday’s close in red, signals fresh downside pressure, as descending daily cloud, currently at 1.1080, continues to weigh. Also, daily slow Stochastic is reversing from overbought territory, which gives bearish signal.
Daily indicators are bullish, but mixed setup of daily MA’s, keeps the downside vulnerable.
Yesterday’s low at 1.0923, offers good support and so far prevents deeper correction towards 1.0877, 09 Dec low and 1.0841, Fibonacci 38.2% of 1.0519/1.1041
Daily 55SMA offers initial resistance at 1.0971, guarding pivotal 200SMA / daily cloud base resistance zone and while the latter holds, extended consolidation could be expected.
Res: 1.0971; 1.1000; 1.1029; 1.1041; 1.1060
Sup: 1.0923; 1.0888; 1.0839; 1.0794
GBPUSD
Strong rally of 09 Dec, extended briefly yesterday and posted marginally higher high at 1.5200, but failed to sustain gains. Yesterday’s trade closed in red and below descending daily 30SMA, which continues to cap, despite being cracked in repeated attempts higher.
Near-term price action is holding between daily 20 and 30SMA’s, which mark initial support and resistance at 1.5122/1.5160.
Daily studies remain bearishly aligned and further easing could be expected while 30SMA caps. Also stronger correction could be anticipated on daily close below daily 20SMA.
Key support lies at 1.5000, psychological level / Fibonacci 61.8% of 1.4892/1.5200 rally.
Weakening near-term bulls require sustained break above 1.5200 barrier, to regain full power and focus targets at 1.5317/34, 200SMA / 19 Nov lower top.
Res: 1.5200; 1.5230; 1.5284; 1.5317
Sup: 1.5122; 1.5109; 1.5082; 1.5046
USDJPY
The pair recovered ground, bouncing from fresh low at 121.06, posted after sharp fall, two days ago. Corrective rally regained levels above 121.56, 200SMA, but so far unable to sustain gains above 122 handle, keeping initial barrier at 122.35, daily Tenkan-sen line, intact.
This may bring near-term price action under pressure again, with return below 200SMA, seen as strong bearish signal.
However, thickening daily Ichimoku cloud, which lies ticks above 121.06 low, is expected to offer good support.
On the upside, pivotal barrier lies at 122.75, daily 20SMA and only sustained break here will neutralize downside threats.
Res: 122.20; 122.35; 122.58; 122.75
Sup: 121.51; 121.06; 120.89; 120.22
AUDUSD
Aussie came under pressure and accelerated lower, after being unable to sustain yesterday’s recovery extension, which stalled at 0.7332. Increased downside pressure was signaled by yesterday’s candle with long upper shadow and today’s fresh bearish extension that dipped below Fibonacci 61.8% of two-day 0.7170/0.7332 recovery and also cracked rising daily 20SMA at 0.7228.
However, daily studies are bullishly aligned and would support fresh attempt higher, while daily 20 SMA holds. Such scenario requires regain of 0.7332 peak, to signal fresh attempt at key 0.7380 barrier.
Otherwise, daily close below 20SMA, will re-open 0.7170, near-term higher base and pivotal support, for test.
Res: 0.7270; 0.7300; 0.7332; 0.7360
Sup: 0.7220; 0.7188; 0.7170; 0.7101
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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