Technical analysis on EU,GU and majors

bhanu545

Master Trader
Nov 3, 2010
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Technical analysis of EUR/USD for July 16, 2014

!EU160714.jpg

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3635.
Strong Resistance:1.3627.
Original Resistance: 1.3614.
Inner Sell Area: 1.3601.
Target Inner Area: 1.3569.
Inner Buy Area: 1.3537.
Original Support: 1.3524.
Strong Support: 1.3511.
Breakout SELL Level: 1.3503.
DESCRIPTION:
Today, EUR/USD has support at 1.3524 and resistance is at 1.3614. The rate is accompanied by strong support at 1.3511 and by 1.3627 as strong resistance.
If EUR/USD breaks out and closes below the 1.3503 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3635 level, then it will denote high bullish strength. Alternatively, for advanced traders, you can trade in a way to open a BUY position at the level of 1.3537 and a SELL position at 1.3601. In this case both targets should be placed at the level of 1.3569.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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Technical analysis of GBP/USD for July 16, 2014

gbpusdh1.png

Overview:
The market of GBP/USD pair was not stable and the trend was not clear. Consequently, the market will probably start showing the signs of tight sideway range on July 16, 2014. Thus, the GBP/USD pair will be restricted by the levels of 1.7160 and 1.7085. So, it would be wise to pay attention to this area. Moreover, it should be noted that the double bottom is going to set at the price of 1.7085. Additionally, resistance stood at 1.7160. Thus, we predict a tiny range about 60 pips today. Therefore, try to buy at a lower price around the weekly support at the price of 1.7080 with the first target of 1.7120 (the price of 1.7119 is representing the weekly pivot point). It will climb towards 1.7154 (the weekly resistance one).
Notes: Expect a range of 60 pips.
Strong support level will be formed at the price of 1.7080 today.
The value of 50% Fibonacci retracement levels has set at the 1.7126 level. Moreover, it is the key level to confirm the bullish market.

Performed by Mourad El Keddani, Analytical expert
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bhanu545

Master Trader
Nov 3, 2010
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Technical analysis of EUR/USD for July 17, 2014

Overview: The EUR/USD pair resistance was broken and it turned to support at the level of 1.3503, as well as the same level is coinciding with the ratio of 00% Fibonacci retracement levels in H4 chart. Therefore, the pair has already formed a strong support at the 1.3500 level. But it should be noticed that a minor support will be set at the level of 1.3636 around the 23.6% Fibonacci retracement levels in H4 chart too. Moreover, the price of the EUR/USD pair could close neither below 1.3500 nor 1.3475. Additionally, it should also be noted that the price has still been moving between the double bottom (1.3503) and 1.3578. Equally important, the RSI and the moving average (100) are still calling for the uptrend from the level of 1.35. For that, the market indicates a bullish opportunity at the level of 1.35 with the first target of 1.3550 and continues towards 1.3571 in order to try to test the weekly resistance 1. On the other hand, if the price closes below the minor support, then the best location for placing a stop loss should be below 1.3475. Thus, the price will call for a bearish market in order to go further towards 1.3413.
eurusdh4.png

Notes:
Support will set at the level of 1.3500.
The minor resistance had already placed at the 1.3578 level today.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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Daily analysis of GBP/USD for July 17, 2014

H1 chart: The GBP/USD has moved sideways during the last hours, above the 200 SMA. Now this pair is trying to consolidate above the resistance level of 1.7150, which has been shown to be a strong level. However, it is likely that the GBP/USD will fall to the support level of 1.7100. The MACD indicator is in neutral territory.
GBPUSDH1.png

Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.7150, take profit is at 1.7200, and stop loss is at 1.7100.

Performed by Felipe Erazo, Analytical expert
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bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of EUR/USD for July 18, 2014

!EU180714.jpg

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3583.
Strong Resistance:1.3575.
Original Resistance: 1.3562.
Inner Sell Area: 1.3549.
Target Inner Area: 1.3517.
Inner Buy Area: 1.3485.
Original Support: 1.3472.
Strong Support: 1.3459.
Breakout SELL Level: 1.3451.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3472 and 1.3562. The rate is accompanied by strong support at 1.3459 and by 1.3575 as strong resistance. If EUR/USD breaks out and closes below the 1.3451 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3583 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3485 and at 1.3549, a SELL position. In this case both targets should be placed at the level of 1.3517.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
2,773
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72
Technical analysis of GBP/USD for July 18, 2014

1405674089_gbpusdh1.png

Overview: The GBP/USD pair will probably move between 1.7154 and 1.7072. Consequently, it would be wise to be careful at this range area of 82 pips. In particular, it will be too meaningful to wait for a period of the tight sideway range market before investing. Equally important, the level of 1.7072 formed a strong support, as well as this price is matches 11% of the Fibonacci retracement levels (look at the chart). Therefore, the market is likely to start showing the signs of the bullish market. In other words, it will be a good sign to buy above the 1.7072 level with the first target of 1.7110 in order to retest the weekly pivot point. Besides, it will climb towards the price of 1.7154 to retest weekly resistance. Additionally, it should also be noted that the weekly resistance 2 is set at 1.7201 and the double top has already set at the price of 1.7191. However, if the the pair does not break the double top, the market will indicate a bearish opportunity below the level of 1.7191, then this level will act really as strong resistance.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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Weekly technical levels of EUR/USD for July 21-25, 2014

eurusdh1.png

Trading recommendations: According to the previous events, the price of the EUR/USD pair is going to move between the levels of 1.3470 and 1.3560.
The resistance has already set at the level of 1.3611 and the support stood at the price of 1.3462. So, we expect a range about 149 pips this week.
Additionally, it should be noted that if the trend is ascending, then the strength of the currency will be defined as follows: EUR is in the uptrend and USD is in the downtrend.
Therefore, it will be of the insight to sell in this area (1.3611) with the first target at 1.3508, then the price will be able to continue in the downtrend towards 1.3562 in order to try to break the weekly support one.
On the other hand, the stop losses should be placed above the double top 1.3639.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Weekly technical levels of GBP/USD for July 21-25, 2014

gbpusdh1.png

Observations: We expect a new range about 160 pips this week.
The key level will set at the level of 1.7103 which represents the weekly pivot point for July 21-25, 2014.
The support of the GBP/USD pair has already set at 1.7016. Moreover, the weekly support 1 will set at the same level.
If the trend fails to close below the level of 1.7010, it will be a good opportunity to buy above 1.7020 with the first target at 1.71. Then, it will be continued straight towards 1.7132.
The price of 1.7103 is representing the weekly pivot point and 1.7191 is going to form a double top.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of EUR/USD for July 22, 2014

!EU220714.jpg

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3588.
Strong Resistance:1.3580.
Original Resistance: 1.3567.
Inner Sell Area: 1.3554.
Target Inner Area: 1.3522.
Inner Buy Area: 1.3490.
Original Support: 1.3477.
Strong Support: 1.3464.
Breakout SELL Level: 1.3456.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3477 and 1.3567. The rate is accompanied by strong support at 1.3464 and by 1.3580 as strong resistance. If EUR/USD breaks out and closes below the 1.3456 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3588 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3490 and at 1.3554, a SELL position. In this case both targets should be placed at the level of 1.3522.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of GBP/USD for July 22, 2014

1405987104_GBPUSDDaily.png

The cable is facing resistance at 20 DSma. In yesterday's session, the pair touched the 20DSma and moved to lower levels. In toady's session, the pair opened on a mild bearish note, higher at 1.7076 levels. The pair looks weak until it trades below that. The pair has strong support at 1.7037-1.70 levels. A break below 1.70, the cable will fall to 1.6950, 1.6923 and 1.6880 levels. A day close below 1.6950 levels, the short-term trend turns to bearish. If the pair manages to sustain above 1.72, fresh longs will be triggered towards 1.7330 levels. Support 1.70, 1.6950 Resistance 1.71, 1.72
1405987116_GBPUSDH4.png

For an intraday basis, the cable is trading below the hourly moving averages. The pair has support at 1.7070, 1.7056 (9hr low). On the high side, it has resistance at 1.7085, 1.7096 and 1.71040 levels. We recommend to go long only above 1.7104 for targets at 1.7133, 1.7144, 1.7150 and 1.7166 levels.

Performed by Joseph Wind, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of EUR/USD for July 23, 2014

The Euro drifted to an 8-month low at 1.3460. On the down side, the pair has strong support at 1.3460, below this, 1.3420 (200DEma) and 1.34 (50MSma). A week close below this, we can see 1.3295 and 1.32 in the short term. We still recommend selling until it trades below 1.37.
Monthly key resistance 1.37
Weekly key resistance 1.3575
Intraweek resistance 1.3550
In the near term, the pair is trading below the key moving averages. Below 1.3460, we can expect 1.3420 and 1.34 this week. For an hourly basis, the pair is trading below the hourly moving averages.
Support: 1.3459 (14hr low).
Resistance: 1.3496 (13 hr high), 1.3530, 1.3549.
Until the pair trades below 1.3550-1.3575, we recommend selling again on an upmove.
Trend reversal support zone is 1.3460-1.34.
1406100175_EURUSDH4.png

EURUSDWeekly.png

Performed by Joseph Wind, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of GBP/USD for July 23, 2014

gbpusdh1.png

Overview: The GBP/USD pair movement will continue directly from the level of 1.7015 in H4 chart. Moreover, this level was confirmed by the bullish market a month ago. Additionally, the price of the GBP/USD pair has been showing an upward trend at the same price which represents the weekly resistance 1 on July 23, 2014. Therefore, the market will indicate the bullish opportunity at the level of 1.7015. Also, it should be noted that the weekly resistance 1 became the support. Accordingly, it will be a good sign to buy at 1.7015 (in the long term) with the first target of 1.7103 in order to test the weekly pivot point and further to 1.7133.
Furthermore, it also should be noted that this level of taking profit will coincide with the ratio of 88.2% Fibonacci retracement levels. For that, it is going to be a good place to take profit. On the other hand, the stop loss should be placed below the double bottom at the price of 1.6990.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
2,773
0
72
Technical analysis of EUR/USD for July 24, 2014

eurusdh4.png

Forecast:
According to the previous events, the price of the EUR/USD pair has still been moving between 1.3450 and 1.3550.
The level of 1.3454 is representing the double bottom, and the weekly support 1 is set at the same level.
Buy above the price of 1.3454 in the long term with the first target at 1.3512. It might resume to 1.3577 if the trend will be able to break the weekly pivot point at the price of 1.3551.
Notes:
The double top will set at the level of 1.3605.
The major support is going to set at 1.3459.
The price has not hit the weekly pivot point.
We expect a range of 68 pips today.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Daily analysis of GBP/USD for July 24, 2014

H1 chart: The GBP/USD has made a breakout at the support level of 1.7050 and now this pair is trying to fall to the support level of 1.7000. If GBP/USD manages to make a breakout at that level, it would be expected to fall to the support level of 1.6950. The MACD indicator is moving into positive territory.
GBPUSDH1.png

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.7000, take profit is at 1.6950, and stop loss is at 1.7050.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
2,773
0
72
Technical analysis of EUR/USD for July 25, 2014

!EU250714.jpg

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3531.
Strong Resistance:1.3523.
Original Resistance: 1.3510.
Inner Sell Area: 1.3497.
Target Inner Area: 1.3465.
Inner Buy Area: 1.3433.
Original Support: 1.3420.
Strong Support: 1.3407.
Breakout SELL Level: 1.3399.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3420 and 1.3510. The rate is accompanied by strong support at 1.3407 and by 1.3523 as strong resistance. If EUR/USD breaks out and closes below the 1.3399* level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3531 level, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.3433 and at 1.3497, a SELL position. In this case both targets should be placed at the level of 1.3465.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
GBP/USD intraday technical levels and trading recommendations for July 25, 2014

gbp4h.jpg

Bullish breakout above the DAILY bearish channel took place exposing the price levels around 1.6985, 1.6900, and 1.7000 as projection targets.
The GBP/USD pair managed to break through the psychological resistance around 1.7000 which previously provided extensive bearish pressure during the last visit on May 6.
Bullish pressure was once applied as a trial to break through the upper limit of the 4H movement channel. However, lack of follow-through existed as bullish pressure being applied was not enough to ensure success of the bullish breakout.
On the other hand, Intraday resistance was established around 1.7150-1.7190. A short-term SELL position was suggested in the previous articles with SL located just above 1.7190.
The price levels of 1.7050 failed to provide enough support for the pair. Hence, the bears had potential bearish target around 1.6970.
The GBP/USD pair remains supported by DAILY Levels around 1.7000 which is a prominent top established in May and important psychological support.
The price level of 1.6920 is the next support level to meet the pair in case the bears managed to breakdown the price zone of 1.6970-1.7000.

Performed by Mohamed Samy, Analytical expert
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bhanu545

Master Trader
Nov 3, 2010
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72
Technical analysis of EUR/USD for July 28, 2014

Overview: The EUR/USD pair has rebounded from the minor support at the level of 1.3415. Now, it is approaching its support in order to test it. Moreover, it should be noted that the price of 1.3420 is representing the daily pivot point today. Equally important, the daily pivot point is coinciding with the ratio of 23.6% Fibonacci retracement levels. Consequently, it will probably start upside movement in this area and recover again. Therefore, it will be a good sign to buy at this spot with the first target of 1.3503 (it should be noted that this level will form the weekly resistance 1) and continue towards 1.3551 to form the double top in the daily chart. On the other hand, in case of breaking of 1.3377, a good place for stop loss will be below 1.3350.
Notes:
The major resistance will be set at the level of 1.3551.
The minor support is going to be placed at 1.3415.
We expect a new range of about 63 pips today.
eurusddaily.png

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
2,773
0
72
Technical analysis of GBP/USD for July 28, 2014

gbpusdh4.png

Trading recommendations: According to the previous events, the GBP/USD pair is going to move between the level of 1.7003 and 1.6717. The resistance is set at the level of 1.7015. Consequently, the market will indicate a bearish opportunity below the price of 1.7015, because the spot of 1.7015 -1.7000 is going to act as strong resistance on July 28, 2014. Accordingly, it will be a good sign to sell below this level today with the first target of 1.6945 in order to test the weekly support 1 in H1 chart. Also, it should be noted that the price 1.6945 coincides with the ratio of 50% Fibonacci retracement levels. Moreover, if the trend succeeds to close below 1.6945, then the market will continue in the downtrend below the weekly support 1 towards the level of 1.6905. On the other hands, the stop loss should be placed above 1.7020 at the price of 1.7045.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
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72
Weekly technical levels of EUR/USD for July 29, 2014

The double top will set at the level of 1.3548 and the double bottom is going to be set at 1.3419 level.
So, the last range was 129 pips. We expect a range between 150 pips and 170 pips this week.
The price hit the weekly support 1 last week only. The major support is going to set at 1.3380 on July 29, 2014.
Hence, according to the previous events, the price of the EUR/USD pair is going to move between 1.3410 and 1.3465.
The level of 1.3465 is representing the weekly pivot point.
Therefore, it will be very useful to sell below the price of 1.3470 in the short term with the first target at 1.3419 in order to test the double bottom. But if the trend is able to break the double bottom at 1.3419, then it might resume to 1.3390.
eurusdh1.png

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014
 

bhanu545

Master Trader
Nov 3, 2010
2,773
0
72
Weekly technical levels of GBP/USD for July 29, 2014

gbpusdh1.png

Forecast: According to the previous events, the price of the GBP/USD pair has been moved between 1.7015 and 1.6930.
The level of 1.9012 is representing the weekly pivot point. It should be noted that the weekly pivot point coincides with the ratio of 38.2% Fibonacci retracement levels.
Consequently, sell below 1.7015 in the short term with the first target of 1.6961 in order to test the double bottom, it might resume to 1.625 (the support 1) if the trend is able to break the double top at 1.6961.
The stop loss should never exceed your maximum exposure amounts. Thus, it will be quite profitable to set your stop loss at the level of 1.7043.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014