Technical analysis on EU,GU and majors

[candle7779]

USDCAD:
BUY
If the price breaks through the level 1.01913 bullish movement will start. Targets of the bullish movement: 1.02288, 1.02678.
SELL
If the price breaks through the level 1.01538 bearish movement will start. Targets of the bearish movement: 1.01121, 1.00732.

 

[candle7779]

NZDUSD:
BUY
If the price breaks through the level 0.84499 bullish movement will start. Targets of the bullish movement: 0.85267, 0.86021.
SELL
If the price breaks through the level 0.83757 bearish movement will start. Targets of the bearish movement: 0.83030, 0.82289.

 

[candle7779]

USDJPY:
BUY
If the price breaks through the level 99.200 bullish movement will start. Targets of the bullish movement: 100.108, 101.147.
SELL
If the price breaks through the level 98.030 bearish movement will start. Targets of the bearish movement: 96.960, 95.921.

 

[bhanu545]

GBP/USD - sell below trendline - for April 09, 2013

The British pound is trading below the long-term bearish channel and above the short-term bullish channel. The pound is at a decisive moment, if bluntly manages to break the 1.5350 level. It closed the week above this level which indicates that the pair’s nearest target is at 1.5630. On the other hand, we recommend selling at current price levels with objectives in support of the bullish channel at 1.51. Looking on the chart you can see that the Momentum Indicator is overbought, indicating that it is the next few days there will be a significant correction of the pair.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD - sell bellow 1.3140 - for April 09, 2013

The EUR/USD pair managed to cover the gap it left on March 15, reaching 1.3072 level. Given that according to the pivots, strong resistance is located at the level of 1.3130/50. Last week it pushed down the pair. The pullback is likely to take place at these levels, so you can sell below 1.3140 with targets at the 200 day moving average around 1.2910. If it closes above 1.3150, it is likely that its objective is 1.3250/1.33 level. This movement is reflected by the momentum indicator approaching the oversold area. Therefore, we believe that before the bearish sequence the euro attempts to break the level of 1.3150.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD - correction- for April 10, 2013

The British pound is trading below its long-term bearish channel. 1.5350 level will continue to act as strong support for the pair. On the other hand, we expect to see a break higher bluntly, that the pair starts a new sequence upward, so we believe that before this happens there should be a correction of the pair towards 1.51 level. Therefore, it is recommended to sell at current levels, we will place stop loss above the maximum of 1.5350 with short-term objectives 1. 5110. The Momentum Indicator is showing bearish signal.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD - sell bellow 1.3140 - for April 10, 2013

The euro could not overcome the strong resistance level of 1.3140/50. It had a stop at 1.3121, this area is very strong. If you remember last time the euro reached this level and dropped to the minimum 1.2736. Given that it is almost 400 points in the rebound and the pair is already in resistance zone, we recommend selling at current price levels with short-term objectives to the 1.2920 area, around the 200 day moving average. Looking at the chart you will notice that our momentum indicator is in overbought area which is likely to be a correction of the pair, at least to the psychological level of 1.3004.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[candle7779]

GBPUSD:
BUY
If the price breaks through the level 1.53950 bullish movement will . Targets of the bullish movement: 1.54286, 1.54955.
SELL
If the price breaks through the level 1.53007 bearish movement will . Targets of the bearish movement: 1.52427, 1.51848.

 

[candle7779]

AUDUSD:
BUY
If the price breaks through the level 1.05797 bullish movement will start. Targets of the bullish movement: 1.06329.
SELL
If the price breaks through the level 1.04773 bearish movement will start. Targets of the bearish movement: 1.04255, 1.03805.

 

[candle7779]

USDCAD:
BUY
If the price breaks through the level 1.01678 bullish movement will start. Targets of the bullish movement: 1.01964, 1.02264.
SELL
If the price breaks through the level 1.01060 bearish movement will start. Targets of the bearish : 1.00732.

 

[candle7779]

NZDUSD:

BUY
If the price breaks through the level 0.86500 bullish movement will start. Targets of the bullish movement: 0.87060.
SELL
If the price breaks through the level 0.83757 bearish movement will start. Targets of the bearish movement: 0.83030, 0.82289.

 

[bhanu545]

EUR/USD - sell bellow 1.3150 - for April 11, 2013

The euro could not break the resistance level of 1.3150. Recently the currency has reached the level of 1.3136. It could exceed this level to try again, but without a bullish outlook, thus much more sustainable. A loss of tempo in its rise has already been observed, the following downward correction is imminent, and would not miss view in the 1.2980 area even before finishing the week. Therefore, we recommend selling below 1.3150 with targets at the 200 day moving average around 1.2910.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD - strong resistance 1.54 - for April 11, 2013

The British pound is around 1.54 level which is the 38.2% Fibonacci retracement on the daily chart. This resistance will slow, at least in the short term, so it is likely there will be a correction to the levels of the bearish channel which was broken. In that area there is the fractal 1.5285. Therefore, it is recommended buying this pair in that support level with objectives in the medium term to the next fractal 1.5630. The Momentum Indicator still remains in positive territory, the break of the MACD signal will indicate fall for the British pound.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD - sell bellow fractal 1.3155 - for April 12, 2013

The euro did not manage to break the strong resistance level of 1.3150. It made an attempt to break the level of 1.3076 this morning, below fractal 1.3155. Although we believe that this pair must make a correction to the level of at least 1.2910. On the other hand, the break of 1.3155 level will start a new sequence that could lead upward to the level 1.33 and above to 1.35. So we should monitor this level. If the pair closes on weekly charts above this level, it increases possibility of an uptrend in the medium term. So, looking at our chart, we recommend sell at any price below 1.3150 with targets at 1.2910. The Momentum Indicator is in overbought area, the fall of the euro is imminent.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD - strong resistance 1.5453 - for April 12, 2013

The British pound tried to break the level of 1.5411 for two consecutive days, but failed to hold above this price. This morning during the U.S. session it has showed a bearish tint, which is likely to continue the correction of the pair, until weekly pivot levels of 1.5243. This area is a very strong support. If the pair manages to close below this level, the outlook for the pound would be bearish again. 1.4910 is the target in the medium term. On the other hand, this pair has a strong resistance at 1.5453. Although we note that the pair lost strength and less probable to reach that area, however, the Momentum Indicator is testing the moving average of the MACD, the breakdown of it will be the confirmation to sell the British pound steadily.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

Strategy of the day on EUR/USD 2013-04-15

The spot rate approaches the upper limit of its medium-term bearish channel at 1.3130 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators provide buy signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility. The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 1.3130 with the 1st objective at 1.3070 and then at 1.3050. A breakthrough of 1.3150 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.3130 with the 1st objective at 1.3190 and then at 1.3210. A breakthrough of 1.3110 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

Strategy of the day on GBP/USD 2013-04-15

The spot rate approaches the lower limit of its medium-term bullish channel at 1.5290 suggesting a rebound. However, a break of this level will free a large potential and initiate a violent bearish channel. Technical indicators do not provide clear signals, but until the support is not broken the assumption of a rebound is most likely. Bollinger bands have stabilized showing a more regular volatility. The spot rate is currently testing the lower limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a rebound then we recommend a buy on the level of 1.5290 with the 1st objective at 1.5350 and then at 1.5370. A breakthrough of 1.5270 will invalidate this scenario. The second scenario is a break of its support where we recommend a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1.5290 with the 1st objective at 1.5230 and then at 1.5210. A breakthrough of 1.5310 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Group © 2007-2013

 

[candle7779]

GBPUSD:
BUY
If the price breaks through the level 1.53682 bullish movement will start. Targets of the bullish movement: 1.54286, 1.54955.
SELL
If the price breaks through the level 1.53007 bearish movement will start. Targets of the bearish : 1.52427, 1.51848.

 

[bhanu545]

EUR/USD - sell bellow 1.3155 - for April 16, 2013

The euro recovered from yesterday's low. This pair has a support level at 1.3005, a psychological level which was rejected yesterday. It has a strong resistance level 1.3155, outside these levels the movement for the next few days are marked. We expect the pair should consolidate between these levels, above 1.3150. It is expected to reach up to 1.3250 and below 1.30. The euro is expected to fall to 1.2870. Therefore, you have to monitor both points as the pair approaches. However, today the pair is trading very close to the resistance and it is likely to be a correction of the pair. On the other hand, the Momentum Indicator is very overbought, the fall of the euro is imminent in the next few days.

Performed by Gerardo Porras, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

Strategy of the day on GBP/USD 2013-04-16

The spot rate approaches the upper limit of its medium-term bearish channel at 1.5330 suggesting a decline. However, a break of this level will initiate a violent bullish channel. Technical indicators do not provide clear signals, but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands have stabilized showing a more regular volatility. The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios. The first one is the hypothesis of a decline where we recommend a sell on the level of 1.5330 with the 1st objective at 1.5270 and then at 1.5250. A breakthrough of 1.5350 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means to buy the spot rate as soon as it is broken through its resistance of 1.5330 with the 1st objective at 1.5390 and then at 1.5410. A breakthrough of 1.5310 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Group © 2007-2013