Technical analysis on EU,GU and majors

[sekender20]

hi
It is only at around 1.4270, reached about a week ago, the euro / dollar pair below the peak levels of a sharp and aggressive bearish wave, renewed concerns about the debt crisis in Europe due to the minimum level, is around 1.3700. The last wave of bearish technical picture pairs a month ago after a pair of horizontal movement and stagnation in the work, and now the pair stagnation in the lower range of management and is expected to go back to the t.

 

[candle7779]

USDJPY:
BUY
If the price breaks through the level 99.401 bullish movement will start. Targets of the bullish movement: 101.421.

 

[bhanu545]

EUR/USD intraday technical and fundamental review for April 25, 2013

Technically, on the depicted chart the EUR/USD pair has confirmed a reversal Head and Shoulders pattern around 1.3190 which has its neck-line located around 1.3000. Confirmation took place on April 23, when the pair made obvious 4H closure below 1.3000 which was supported by S1 around 1.2970. It pushed the EUR/USD pair again above 1.3000. However, the pattern remains valid as long as the pair is fixed below R1 around 1.3130. Today the pair is meeting a minor supply located at 1.3025 which comes to meet 100-day SMA on the 4H chart. Hence, its breakdown will lead towards the next target level at S1 around 1.2970 directly. Supply Zones: R1 around 1.3130 and R2 around 1.3190. Demand Zones: S1 around 1.2970, S2 around 1.2930, and S3 around 1.2870. Fundamentally, the US dollar fell heavily during the Asian trading session held today, which is experiencing more commodities recovery. Gold rose again above the level of 1,440 which is an increase of greater than 9% from its record of decline at 1,321.5 during the last week. Also today the economic calendar witnessed decline in the number of claiming unemployment benefits in the United States more than expected last week, despite the rise recorded during last week, according to official data released earlier today.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD - Bearish outlook - for April 25, 2013

The British pound had an upward movement after the publication of the UK's GDP. It grew by 0.3% in the first quarter, more than modest but managed to avoid a major recession, and the British pound jumped immediately, reaching its maximum, so far, from 20 February. Looking at the graph I have no reason to consider that the pound will rise more, probably rising a few pips above, but a prolonged fall is expected to the level of 1.50, because the Momentum Indicator is in negative zone and the moving average of the MACD is already very overbought, which is suggestive of a decrease in the next few days. Therefore, we recommend selling in the current price level 1.5461, or if the pair reaches the area of 1.55, the psychological level, we can sell this pair with objectives to 1.5280.

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

 

[candle7779]

GBPUSD:
BUY
If the price breaks through the level 1.54955 bullish movement will start. Targets of the bullish movement: 1.56428.
SELL
If the price breaks through the level bearish movement will start. Targets of the bearish movement: 1.52427, 1.51848

 

[candle7779]

AUDUSD:
BUY
If the price breaks through the level 1.02925 bullish movement will start. Targets of the bullish movement: 1.03115.
SELL
If the price breaks through the level 1.02730 bearish movement will start. Targets of the bearish movement: 1.02559.

 

[candle7779]

USDCAD:

SELL
If the price breaks through the level 1.01400 bearish movement will start. Targets of the bearish movement: 1.01079, 1.00752.
details

 

[candle7779]

NZDUSD:
BUY
If the price breaks through the level 0.85267 bullish movement will start. Targets of the bullish movement 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:
SELL
If the price breaks through the level 96.030 bearish movement will start. Targets of the bearish movement: 96.960, 95.921.

 

[bhanu545]

EUR/USD - Buy above 1.2990 - for April 26, 2013

The euro has not lost a medium-term uptrend for two reasons. The first one is it is trading above the 200-day moving and the second is the Momentum Indicator is above the moving average of the MACD, you can observe it on the graph. If in the next days the euro price enters and consolidates below it, then we note that there is a downward trend. Therefore, we now recommend buying the pair above 1.2990 with targets at bearish channel ceiling around 1.31.

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

 

[bhanu545]

GBP/USD - Bearish outlook - for April 26, 2013

The pound is optimistic with GDP of 0.3% in the quarter. Analyzing the technical chart I have no reason to believe that the pound will rise again, probably the increase of a few pips above but prolonged fall is expected to the 1.50 level, because the indicator is currently in negative zone and the moving average of the MACD is already very overbought, suggesting a decrease in the coming days. Therefore, it is recommended to sale at current price level 1.5485 or if the pair reaches the region of 1.55, the psychological level, we can sell this pair with targets 1.5280.

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

 

[bhanu545]

Strategy of the day on GBP/USD 2013-04-29

The spot rate approaches the upper limit of its medium-term bullish channel at 1.5550 suggesting a decline. However, a break of this level will initiate a more 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 1.5550 with the 1st objective at 1.5490 and then at 1.5470. A breakthrough of 1.5530 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 1.5550 with the 1st objective at 1.5610 and then at 1.5630. A breakthrough of 1.5530 will invalidate this scenario.

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

 

[bhanu545]

Strategy of the day on EUR/USD 2013-04-29

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.3080 suggesting a decline. However, a break of this level will allow it to reach the upper limit of its channel at 1.3140. 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 intermediate resistance 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 1.3080 with the 1st objective at 1.3020 and then at 1.3000. A breakthrough of 1.3100 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 1.3080 with the 1st objective at 1.3140 and then at 1.3160. A breakthrough of 1.3060 will invalidate this scenario.

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

 

[bhanu545]

EUR/USD - Buy above 1.3115 - for April 30, 2013

The euro is in a decisive area and trying to break the short-term bearish channel. If you look at the chart, yesterday it tried to break 1.31 area, but found resistance. Given that it has retracted only about 30 points, this level is likely to be a new attempt to break it. Thus, we recommend buying above 1.3115 area with targets at 1.3225, around the third weekly resistance. If an upward movement continues, the next target is the 1.3422 area fractal. On the other hand, if there is a rebound in the 1.30, it would be a good opportunity to buy the pair. Our outlook is bullish because the Momentum Indicator has found support above the moving average of the MACD, and as it has not broken down, the bullish signal is intact. So you can buy at the current price levels, pending the increase of the EUR/USD pair in the next few hours and days.

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

 

[bhanu545]

GBP/USD - Bearish outlook - for April 30, 2013

The pound sterling is bullish in the short term. It is likely that during the American session today it pulls back towards the roof area of the bullish channel, around 1.5520/1.5550. But in the medium term we have a bearish outlook for the pair. For the reason the MCD moving average and the Momentum Indicator are showing strong bearish, target the 1.50 area. So we recommend selling on resistance levels with the nearest target in the fractal of 1.5280.

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

 

[bhanu545]

GBP/USD intraday technical & fundamental review for May 1, 2013

The rising wedge continuation pattern achieved its full projection target around 1.5490. This week, there's a supply zone located between 1.5500-1.5550 which corresponds to 50% Fibonacci Level and the upper limit of the depicted bullish channel. Hence, it is the zone of strong resistance which will probably pause the ongoing bullish movement for some bearish retracement. Although the pair is trading above the 100- day SMA and Fibo 50 level, the bullish steam seems to be fading away which is manifested in the "inverted hammer" daily candlestick which is an early indicator for possible retracement. Resistance levels : 1.5650 and 1.5850. Support levels : 1.5380, 1.5230 and 1.5030.
The cable has dependable demand level around 1.5365 which may provide a valid BUY entry on the next bearish retracement. Other minor demand zones are located around 1.5500 then 1.5430 which have been established by the bulls last Friday. If the bears manage to establish a Supply Zone at the upper limit of the channel at 1.5590, the bearish momentum will be targeting 1.5430, 1.5365 then 1.5200. Fundamentally, Activity in the manufacturing sector in the UK has improved during the month of April, but is still confined in a narrow range for the third month in a row as illustrated by industrial data released today. This may contribute to hinder the bearish retracement scenario for sometime.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD: intraday technical analysis for May 1, 2013

The EURUSD's resistance had been broken and it was turned to support around the price of 1.3156 yesterday. Therefore, the pair has already formed a strong support at 1.3156. Moreover, after it could close below 1.3150 and the pair started signing for bullish market, it should also be noted that the price has still been trapped between 1.3150 and 1.3215.
As well the RSI and the last strong support (around the double bottom (1.3100) on H4 chart) are still calling for uptrend at this level. Thus the market indicates a bullish opportunity on the level of 1.3100 on the H4 chart with a first target of 1.3200 and continues towards 1.3250 today. However, in case the reversal takes place and the EUR/USD pair breaks through the strongest support level of 1.3100, the market will lead to further decline to 1.3023 (the weekly pivot point).

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD analysis for May 02, 2013

EUR/USD Elliott Wave For the last few days the EUR/USD pair has been trading upwards, impulsive wave 3 (coloured blue) of the bigger wave (C) (coloured green) has been developing. During the Wednesday's Asian and European session we could observe strong ascending movement from 1.3160 towards the 1.0324 level and we can consider this move as the end of the impulsive wave 3 (coloured blue).Therefore, during the New York session when developing of the corrective wave 4 (coloured blue) starts this major currency did not manage to hold long position and we could observe the price retracing to the 1.3169 level. At the moment the EUR/USD pair is trading around 1.03165 and we are expecting to see price higher for the next few sessions.In accordance with our wave rules and taking into account that the wave 5 should retrace 100% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.3286 (100 % of wave 1). To reduce the risk, we can use support level at 1.3100 as stop loss. Support and resistance (S3) 1.3064 (S2) 1.3112 (S1) 1.3146 (PP) 1.3194 (R1) 1.3228 (R2) 1.3276 (R3) 1.3310 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.3185 with stop loss at 1.3100 and take profit at 1.3286 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD weekly wave analysis 2013-05-02

GBP/USD Elliott Wave For the past few weeks the GBP/USD pair is trading upwards, in Elliott perspective this move represent corrective wave 2 (coloured blue) of the bigger wave (C) (coloured red). Yesterday, during the Asian and European session we could observe strong ascending movement from 1.5527 towards the 1.5590 level. Therefore, during the early New York session this major pair has continued trading in a bullish mood and price reached a new high at 1.5600. If price go below 1.5500 area today i would like to consider yesterday's high as the end of the corrective wave 2 (coloured blue) and than we can expect to see big downwards move. In accordance with our wave rules and taking into account that wave 3 should retrace 161.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3433 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.5800 level as stop loss. Support and resistance (S3) 1.5438 (S2) 1.5482 (S1) 1.5518 (PP) 1.5562 (R1) 1.5598 (R2) 1.5642 (R3) 1.5678 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.5500 with stop loss at 1.5800 and take profit at 1.3433 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD analysis for May 03, 2013

EUR/USD Elliott wave Since our last analysis the EUR/USD pair has been trading lower, so we changed our primary wave count a little bit. During the Thursday's European session we could observe ascending movement from 1.3145 towards the 1.3217 level. Therefore, during the early New York session this major currency did not manage to hold this levels and the price dropped to the new 3-day low at 1.3037 level. We can consider this move as the end of the wave 3 (coloured blue) of the bigger wave (1) (coloured green). At the moment, the EUR/USD pair is trading around 1.3122 level and we are expecting to see price around 1.3010 area in the next few sessions. In accordance with our wave rules and taking into account that the wave 5 should retrace 61.8% of the waves 3, we can define the potential targets with measuring wave 3 with take profit at 1.3013 (61.8 % of wave 3). To reduce the risk, we can use resistance at 1.3200 level as stop loss. Support and resistance (S3) 1.2813 (S2) 1.2925 (S1) 1.2994 (PP) 1.3106 (R1) 1.3175 (R2) 1.3287 (R3) 1.3356 Trading forecast Proceeding from Elliott wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3100 with stop loss at 1.3200 and take profit at 1.3013 are recommended.

Performed by Nicola Delic, Analytical expert
InstaForex Group © 2007-2013