Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD technical analysis for May 03, 2013 2013-05-03

RECOMMENDATION :
SELL Stop (Pending Order) @ 1.5524.
Stop Loss @ 1.5534.
Take Profit @ 1.5510.
Alternative :
BUY Stop (Pending Order) @ 1.5551.
Stop Loss @ 1.5541.
Take Profit @ 1.5565.

Stabilization above 1.5370 temporarily cancelled the bearish reversal scenario, leading towards 1.5430 (the projection target of the range breakout) then 1.5590. The long-term view remains bullish as long as the pair continues to consolidate within the depicted daily bullish channel above 1.5370-1.5400. However, the upper limit of the movement channel 1.5590-1.5600 may provide a considerable resistance for the pair. This idea is supported by the weak ongoing bullish structure with integrated swings. On the 4H chart, there's a broken short-term uptrend line which was broken-down in order to initiate a retracement movement towards 1.5370. By breakdown of this trendline, there is a confirmed signal of reversal now. However, It's important to be cautious. Breakdown of 1.5480-1.5500 is essential for further bearish retracement towards 1.5400 and 1.5370.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD analysis for May 06, 2013

EUR/USD Elliott Wave Last week the EUR/USD pair has been trading downwards, impulsive wave (1) (coloured green) of the bigger wave Y (coloured red) has been developing. During the Friday's European session we could observe descending movement from 1.3147 towards the 1.3033 level and we can consider this move as the end of the final wave 5 (coloured blue) of the bigger (1) wave (coloured green). Therefore, during the early New York session when development of the corrective wave 2 started, this major pair has pushed higher and we could observe the price reaching a new daily high at 1.3157 level (end of the blue wave A). At the moment the EUR/USD pair is trading around 1.3100 level and we expect to see the price higher in the next few sessions. In accordance with our wave rules and taking into account that wave 2 should retrace 61.8% of the wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3160 (61.8 % of wave 1). To reduce the risk, we can use support at 1.3050 as stop loss. Support and Resistance (S3) 1.2920 (S2) 1.2976 (S1) 1.3047 (PP) 1.3103 (R1) 1.3174 (R2) 1.3230 (R3) 1.3301 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.3110 with stop loss at 1.3050 and take profit at 1.3160 are recommended.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for May 6, 2013

Stabilization above 1.5370 temporarily cancelled the bearish reversal scenario, leading towards 1.5430 (the projection target of the range breakout) then 1.5590. The long-term view remains bullish as long as the pair continues to consolidate within the depicted daily bullish channel above 1.5370-1.5400. However, the upper limit of the movement channel 1.5590-1.5600 may provide a considerable resistance for the pair. This idea is supported by the weak ongoing bullish structure with integrated swings and broken short-term uptrends as depicted on the 4H chart. On the 4H chart, there's a broken short-term uptrend line which was broken-down to initiate a retracement movement towards 1.5530 (the next minor uptrend line). If the bears manage to break down 1.5530, the way towards 1.5480-1.5450 will be open. By breakdown of this trendline, there would be a confirmed signal of reversal. However, it is important to be cautious. Breakdown of 1.5480-1.5500 is essential for further bearish retracement towards 1.5400 and 1.5370.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD analysis for May 07, 2013

EUR/USD Elliott Wave Since our last analysis the EUR/USD pair has been trading downwards, impulsive wave 3 (coloured blue) of the bigger wave 3 (coloured green) has started its development. Yesterday, during the Asian and European sessions we could observe descending movement from 1.3141 towards the 1.3093 level. Therefore, during the New York session this major currency has continued trading in a bearish mood and the price has dropped to the new daily low at 1.3053 level. At the moment the EUR/USD pair is trading around 1.3077 and we expect to see the price lower in the next few days. In accordance with our wave rules and taking into account that the wave 3 should retrace 161.8% of the waves 1, we can define the potential targets with measuring wave 1 with take profit at 1.2950 (161.8 % of wave 1). To reduce the risk, we can use invalidation at 1.3110 as stop loss. Support and Resistance (S3) 1.2952 (S2) 1.3002 (S1) 1.3039 (PP) 1.3089 (R1) 1.3126 (R2) 1.3176 (R3) 1.3213 Trading forecast Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3050 with stop loss at 1.3310 and take profit at 1.2950 are recommended.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for May 7, 2013

The long-term view remains bullish as long as the pair continues to consolidate within the depicted daily bullish channel above 1.5370-1.5400. However, the upper limit of the movement channel 1.5590-1.5600 may provide a considerable resistance for the pair. This idea is supported by the weak ongoing bullish structure with integrated swings and broken short-term uptrends as depicted on the 4H chart. On the 4H chart, there is a broken short-term uptrend line which was broken down to initiate a retracement movement towards 1.5530 (the next minor uptrend line). If the bears manage to break down 1.5530, the way towards 1.5480-1.5450 will be open. By breakdown of this trendline, there would be a confirmed signal of reversal. However, it is important to be cautious. Breakdown of 1.5480-1.5500 is essential for further bearish retracement towards 1.5400 and 1.5370. Stabilization above 1.5470 temporarily cancels the bearish reversal scenario.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD - Sell bellow 1.56 - for May 08, 2013

The British pound will be more attenuated in its rise, and while it moves, as we have pointed several times, within a bullish channel on the daily charts. But in the medium and long term it is preparing for a fall to the level of 1.5280, the pound today is making a pullback to the bearish channel ceiling for the purpose of breaking it. Given that it is showing beginnings of a new bearish sequence, we recommend selling the pound at any price below 1.56 or on the level of 1.5560. Stop loss is placed on 1.5645, above 1.5623, weekly resistance, and above daily fractal 1.5633.

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

 

[bhanu545]

EUR/USD - Key level 1.3160 - for May 08, 2013

This morning during the American session the euro has been trading around daily fractal 1.3160. Given that this pair is being favored due to euphoric climate prevailing in the major world’s exchanges, which is carrying investors to take risk, the euro at the start of the European session exceeded the level of 1.31, boosted by strong industrial production data from Germany. However, 1.3160 is the key level for the pair. If the pair closes the day above this level, it is likely that the upward movement extends to resistance, 1.3225. If this area is exceeded, the euro could quickly reach the 1.3431 fractal. On the other hand, if it closes below 1.3155, it will be considered as a pullback which will give us an opportunity of selling this pair with objectives to daily fractal 1.2877.

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

 

[candle7779]

GBPUSD:
Yesterday cable had bullish movement as euro. Today I expect bearish movement and after crossing the level 1.5520 targets 1.5405 and 1.5365.
Have a good trading.

 

[candle7779]

USDCAD:
I think it would bearish movement for this pair and the aim would be at the levels of 0,9985 and 0,9947. Upper trend is possible after breaking the level of resistance 1,0065. Target of bullish movement 1.0095.

 

[candle7779]

AUDUSD:
Bullish movement is expected after crossing the levels 1.0261 and 1.0286. In this case target will be 1.0325.
If the pair breaks the level 1.0180 that bearish movement will be to the level 1.0124.

 

[candle7779]

NZDUSD:
I think it would be bearish movement for this pair today. Target of this movement will be 0.83606. Stop loss in this case will be 0.84575.

 

[candle7779]

USD/JPY

In view of bullish movement of this pair it is possible uptrend to 99,75, 100,40.
It would be after crossing the level 98.80.
Have a nice day.

 

[bhanu545]

EUR/USD analysis for May 09, 2013

EUR/USD Elliott wave For the last few days the EUR/USD pair has been trading upwards, corrective wave Y (coloured blue) of the bigger wave (2) (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe ascending movement from 1.3071 towards the 1.3146 level.Therefore, during the New York session this major pair has continued trading in a bullish mood and price has reached a new high at 1.3194 level. We can consider this move as the end of the wave (2) (coloured green). At the moment the EUR/USD pair is trading around 1.3154 and we are expecting to see price lower in the next few sessions.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 1.3103 (161.8% of wave 1). To reduce the risk, we can use invalidation point at 1.3195 level as stop loss.
Support and resistance
(S3) 1.3017 (S2) 1.3063 (S1) 1.3092 (PP) 1.3139 (R1) 1.3185 (R2) 1.3214 (R3) 1.3261
Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the downwards movement. That is why short positions at level 1.3150 with stop loss at 1.3195 and take profit at 1.3103 are recommended.

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

 

[bhanu545]

GBP/USD: sell bellow 1.56 - daily strategy for May 09, 2013

This morning the British pound fell after the monetary policy announcement of the Bank of England, although it gave a little boost that could not break the 1.56 area. Again, as we were saying these days, this pair has trouble trading above this level. Taking this into account, perhaps now we can go short, or wait for a rebound towards the weekly pivot line. Sell at the levels 1.5550 with a first target at 1.5283. On the other hand, the momentum indicator is showing an imminent fall of the pair for the next few days.

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

 

[bhanu545]

EUR/USD analysis for May 10, 2013

EUR/USD Elliott Wave Since our last analysis, the EUR/USD pair has been trading downwards, just as we expected, impulsive wave 1 (coloured blue) of the bigger wave (3) (coloured green) has finished developing. Yesterday, during the Asian and European session we could observe descending movement from 1.3176 towards the 1.3084 level and we can consider this move as the end of the wave 3 (coloured red).Therefore, during the New York session this major currency has continued trading in a bearish mood and price reached a new low at 1.3011 level. At the moment the EUR/USD pair is trading around 1.3000 level and we are expecting to see price higher in the next few sessions.In accordance with our wave rules and taking into account that wave 2 should retrace 61.8% of wave 1, we can define the potential targets with measuring wave 1 with take profit at 1.3115 (61.8% of wave 1). To reduce the risk, we can use support point at 1.2980 level as stop loss.
Support and resistance
(S3) 1.2908 (S2) 1.2972 (S1) 1.3012 (PP) 1.3075 (R1) 1.3139 (R2) 1.3179 (R3) 1.3242
Trading forecast
Proceeding from Elliott Wave rules today, the trend is expected to begin the upwards movement. That is why long positions at level 1.3015 with stop loss at 1.2980 and take profit at 1.3115 are recommended.

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

 

[bhanu545]

GBP/USD technical analysis for May 10, 2013

RECOMMENDATION :
Gbpusd is on a bearish trend right now.you might see more continuation towards 1.5000 but its possible it might retrace and go back above 1.55.
SELL Stop (Pending Order) @ 1.5424.
Stop Loss @ 1.5434.
Take Profit @ 1.5410.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD intraday technical and fundamental review for May 13, 2013

Last week, we talked about consolidation of the pair within the price range 1.2950 -1.3240 and the importance of breakout off this zone for the liberation of the pair. At the end of the week, the ascending channel was broken down and the pair returned again to the bottom of the range at 1.2950 to refresh the bearish view of the pair in the short-term. Breakdown of the most prominent support zone around 1.2950 also revives a "Double-Top" pattern on the daily chart. Trading recommendation: Price Level 1.2950 is worth watching for a possible breakdown, as it will probably open the way towards 1.2750 initially while Stop Loss should be located slightly above 1.3050.

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

 

[bhanu545]

GBP/USD: Weekly technical levels for May 13 -- 17, 2013

Trading Recommendations:
According to previous events, the price has still been trapped between 1.5425 and 1.5315.
Buy above 1.5253 with a first target of 1.5388, it might resume to 1.5500.
Below 1.5537 (78% of Fibonacci retracement levels) look for further downside with 1.5430 and 1.5303 targets.
Observations:
Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate. Use historic prices to determine future prices.

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

 

[bhanu545]

EUR/USD strong support 1.2878 - daily strategy for May 14, 2013

This morning in the American session the euro has been falling after the German ZEW index data. It seeks new lows at 1.2930, key support area, with its break it would accelerate its low for the rest of the day. The daily fractal of 1.2878 will be the next support for the pair if the 1.2930 level is broken. On the other hand, this week we expect the pair will be trading between 1.2930/2880 support and 1.3030 resistance. The technical indicator is showing a possible rebound in the area of 1.2930.

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

 

[bhanu545]

GBP/USD: Strong support 1.5212 - daily strategy for May 14, 2013

The British pound falls hard in these hours because an inflation report is released on Wednesday and it is speculated that present negative signs, driving away the possibility that the BoE will increase interest rates and, in turn, can cut them in the near future. Technically, this pair approaches the daily fractal support 1.5212 area during the month of March and April. So we believe that this area will be an opportunity to buy the pair only if there is a technical rebound with target at 1.5427.

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