Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD - bearish outlook - for April 17, 2013

The British pound was partly affected by the Minutes of the Bank of England. The BOE kept its so-called quantitative easing program of bond purchases unchanged at 375 billion pounds on April 4. The minutes will show whether Governor Mervyn King voted to expand asset purchases. This pair was very overbought as noted in yesterday's analysis. It had broken the moving average of the MACD. This fall is just the beginning of a bearish sequence which will push down the pair to support 1.5045. So we can sell the current price levels or if the pair makes a pullback to 1.5349 weekly pivot, you can sell while waiting for a fall to the level of 1.50. The Momentum Indicator is in bearish zone which increases the chances of a fall for the next few days.

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

 

[bhanu545]

EUR/USD - bearish outlook - sell now - for April 17, 2013

The euro made its latest bullish momentum towards the 1.32 area. I do not consider that this pair may rise more in the short term but I suppose it should fall to the psychological level of 1.30, and further down the moving average to 200, around 1.2870. Given the climate of uncertainty in the eurozone, while the authorities cannot find the solutions. In view of this uncertainty, we recommend selling the pair at this very moment at the level of 1.3142 with targets at 1.3005 and 1.29.

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

 

[bhanu545]

GBP/USD - sell below 1.5350 - for April 18, 2013

The British pound fell to a minimum of 1.5217 because data on Retail Sales in the UK fell in March, raising concerns about the prospects for growth in the first quarter. On the technical level, the pair found a bottom around 1.5249 weekly support, this pair today is bouncing above this level. Now it faces 1.5350 level again. Therefore, it is recommended selling at this level with goals in the medium term to the level of 1.5040. We are bearish below 1.54, because the Momentum Indicator is in bearish zone, thus a fall of the pair may be observed in the next few days.

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

 

[bhanu545]

EUR/USD - bearish outlook - for April 18, 2013

Yesterday during the American session the EUR/USD fell but again managed to stop down the psychological level of 1.30. This morning it has traded with a small upward bias. It is likely that today and tomorrow it recovers losses from Wednesday, but in the medium term this pair has a bearish sequence, which we believe can reach the level of 200 moving average. If the pair closes below this level, the outlook for the euro would be very bearish again; its objective would be at 1.25. Now the channel range has widened between 1.32 and 1.30. Outside these levels we will define the next move for the next few days. On the other hand the Momentum Indicator is in overbought zone, which increases the probability of a bearish movement for the next few days.

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

 

[bhanu545]

EUR/USD: Sell bellow 1.3155 - for April 19, 2013

The euro is moving around 1.3050/1.31, though without very specific direction for the American session. The fractal level 1.3155 is the resistance, it becomes very strong. On the other hand, the level of 1.30 is key to the start of a new bearish sequence. So we have to wait for a daily close below 1.30 in order to start selling. Its first downside target is the level of 1.29, there the 200 moving average is located. Below this level the fall of pair might be quick to 1.27/1.25 level. It is unlikely to observe the scenario with general decline, because the euro always seems to find a reason to keep. We must be careful, because this pair has always reacted to headlines and as a result it can act very irregular. The Momentum Indicator is in overbought area which adds a bearish outlook for the pair.

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

 

[bhanu545]

GBP/USD: Key Level 1.5330, for April 19, 2013

The British pound is around weekly pivot. This level is key to decide whether the pair continues to rise or is going to decline. Here we choose to buy if the pair trades above 1.5330, but if the pair is below this level, we recommend selling, with objectives to the last support, 1.5078. We consider that this pair has to fall because it is already a little overbought. It is likely to continue the consolidation from 1.5410 resistance and support of 1.5217. In the medium term we expect this pair will perform a bearish sequence due to the Momentum Indicator is showing a downward sign.

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

 

[bhanu545]

Strategy of the day on EUR/USD 2013-04-22

The spot rate approaches the lower limit of its medium term bulish channel at 1.3060 suggesting a rebound. However, a break of these levels 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, then we recommend 2 scenarios: The first one is the hypothesis of a rebound - then we recommend a buy on the level of 1.3060 with the 1st objective at 1.3120 and then at 1.3140. A break through 1.3040 will invalidate this scenario. The second scenario is a break of its support - then we recommend a “sell stop” that means to sell the spot rate as soon as it has broken through its support of 1.3060 with the 1st objective at 1.3000 and then at 1.2980. A break through 1.3080 will invalidate this scenario.

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

 

[bhanu545]

Strategy of the day on GBP/USD 2013-04-22

The spot rate approaches the lower limit of its medium term bearish channel at 1.5210 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel. Technical indicators provide buy signals and 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, so we suggest 2 scenarios: The first one is the hypothesis of a rebound - then we recommend a buy on the level of 1.5210 with the 1st objective at 1.5270 and then at 1.5290. A break through 1.5190 will invalidate this scenario. The second scenario is a break of its support - then we recommend a “sell stop” that means to sell the spot rate as soon as it has broken through its support of 1.5210 with the 1st objective at 1.5150 and then at 1.5130. A break through 1.5230 will invalidate this scenario.

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

 

[candle7779]

GBPUSD:
SELL
If the price breaks through the level 1.52427 bearish movement will start. Targets of the bearish movement: 1.51848.

 

[candle7779]

AUDUSD:
SELL
If the price breaks through the level 1.02570 bearish movement will start. Targets of the bearish movement: 1.01847.

 

[candle7779]

USDCAD
BUY
If the price breaks through the level 1.02590 bullish movement will start. Targets of the bullish movement: 1.02854.

 

[candle7779]

NZDUSD:
SELL
If the price breaks through the level 0.83910 bearish movement will start. Targets of the bearish movement: 0.83878, 0.82289.

 

[candle7779]

USDJPY:
BUY
If the price breaks through the level 99.672 bullish movement will start. Targets of the bullish movement: 100.108, 101.147.
SELL
If the price breaks through the level 99.030 bearish movement will start. Targets of the bearish movement: 97.960.

 

[bhanu545]

GBP/USD - Sell below 1.53 - for April 23, 2013

The British currency maintains certain firmness against the dollar, up from 1.52 in the last five candles on the daily chart. The pair has found strong support in this area. On the weekly charts the pound is kept in inside the bearish channel long term. The breakdown of the day's low of 1.5195 so far could drill the base of support, in which case the lower pound will be much firmer and faster. Therefore, we recommend selling only if the pair in 4 hour charts closed below the 1.52 level. On the other hand, a pullback to the bearish channel ceiling would be a good opportunity to sell with goals to weekly support of 1.4950.

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

 

[bhanu545]

EUR/USD - Bearish outlook - for April 23, 2013

The euro is located below the psychological level of 1.30 after nine attempts to break this level. Now it is trading below 1.30 because the PMI manufacturing showed a figure lower than expected, thereby feeding speculation that the European Central Bank to cut back interest rates at the next meeting in May, seeking to lower the cost of credit. Technically, the euro has to meet one of reversal patterns that was formed in the last daily sessions with target at 1.27 area. We believe that for the next few days the euro could arrive for this price. On the other hand, the Momentum Indicator produces bearish signal. We believe that the level of 1.2880 will give us the opportunity to decide whether to buy again or continue to sell the pair.

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

 

[bhanu545]

GBP/USD - Sell below 1.53 - for April 24, 2013

The British pound is torn between 1.52 and 1.53, although its direction is bearish in the medium term. This pair is trading within the long-term bearish channel. The fact that today’s attempt to break the bearish channel ceiling failed, it is recommended to sell this pair at current price levels with medium-term targets in the area of 1.4950. The Momentum Indicator is showing a clear bearish signal.

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

 

[bhanu545]

EUR/USD - Buy above 1.2950 - for April 24, 2013

The EUR/USD pair is trading with low volatility with a poorly defined range. Today the pair has approached the level of the 200-day moving average which is located at 1.2940. This level will provide dynamic support to the pair, since the pair is approaching this level it will try to bounce upwards, as it has happened in the previous months. Therefore, we believe that if the pair again negotiates between the levels of 1.2970 and 1.2950, the Euro quickly tries to bounce. The Momentum Indicator approaches the moving average of the MACD which also signifies that the euro could recover its losses in the coming days, so we recommend buying the pair at any price above 1.2950 with targets at the ceiling of the bearish channel around 1.3101.

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

 

[candle7779]

I think GBPUSD will increase and my forecast is the next for this pair
BUY
If the price breaks through the level 1.55045 bullish movement will start. Targets of the bullish movement: 1.57721.

 

[candle7779]

AUDUSD
SELL
If the price breaks through the level 1.03090 bearish movement will continue. Targets of the bearish movement: 1.01934.

 

[candle7779]

USDCAD:

BUY
If the price breaks through the level 1.02139 bullish movement will start. Target of the bullish 1.02294.