Technical analysis on EU,GU and majors

[candle7779]

EUR/JPY

It is expected bullish movement for this pair today and target is 132.75. If the bearish movement start target will be 131.050.

 

[bhanu545]

EUR/USD - Bearish outlook - for May 28, 2013

This morning the euro showed a small upward bias. It is likely it will try to reach the 1.30 area. But looking at technical indicators, we note that this pair is under downward pressure. However, looking at the chart below we may notice that the Momentum Indicator has been driven below the bearish channel. We can see three attempts to break the bearish channel. Today it has tried to break it, but now it indicates a likely bearish movement. Therefore, we recommend selling at current price levels if the pair manages to close at four-hour charts below the 1.2877 fractal. It will be time to sell the pair with targets at 1.2602 in the medium term.

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

 

[bhanu545]

GBP/USD - Buy long above 1.5050 - for May 28, 2013

This morning the British pound was above 1.51 level, but it failed to break the barrier of 1.5152, which could not been reached on Monday. But the passing of which would give impetus for virtually the rest of the week in upward direction. Now this morning the pair moved away from daily fractal level 1.5080. We expect that before breaking 1.5150 resistance, it must return to find further bullish momentum. Therefore, we recommend buying at 1.5080 or 1.5050 levels, with stop loss at 1.5030 or a medium-term strategy in 1.4980, our we place our focus on 1.5330. On the other hand, the Momentum Indicator is showing a small bearish signal that could have a stop at 1.5080/1.5050.

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

 

[bhanu545]

EUR/USD intraday technical levels for May 30, 2013

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.3008.
Strong Resistance: 1.3001.
Original Resistance: 1.2988.
Inner Sell Area: 1.2975.
Target Inner Area: 1.2945.
Inner Buy Area: 1.2915.
Original Support: 1.2902.
Strong Support: 1.2889.
Breakout SELL Level: 1.2882.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.2902 and 1.2988. The rate is accompanied by strong support at 1.2889 and by 1.3001 as strong resistance.
If EUR/USD breaks out and closes below 1.2882 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3008 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 1.2915 and at 1.2975, a SELL position. In this case both targets should be located at the level of 1.2945.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for May 30, 2013

The weak bullish structure with integrated swings led to the price fell after the upper limit of the movement channel 1.5590-1.5600 had provided a considerable resistance for the pair.
Breakdown of important support level 50% Fibonacci (1.5220) then Fibo 61.8% (1.5130) opened the way for the pair towards 1.5015 (Fibonacci 78%) which expressed bullish rejection so far.
Earlier today, the GBP/USD pair managed to have 4H closure above 1.5130 ( downtrend line & 61.8% Fibonacci ) which is an early bullish signal that threatens the current bearish momentum.
Breakdown again of 1.5130 (61.8% Fibo) will probably lead to another bearish swing towards 1.5020 initially. However, consolidation above it will proabably open the way directly towards 1.5220. That is why price action should be watched at retesting.

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

 

[bhanu545]

EUR/USD - Bearish outlook - for May 31, 2013

The EUR/USD pair recovered slightly from a decline it suffered early in the European session on Friday after data on German retail sales was published. It unexpectedly fell 0.4%, also unemployment rate in the eurozone set a new record. It stood at 12.2%, which although was in line with analysts' expectations. Now this pair has reached 1.3050 level, the recovery of the pair is for me a good opportunity to take bearish position with targets at 1.2877 and 1.2750. One should expect a daily close above 1.31, to consider buying this pair. So we suggest to sell at any price below 1.3050. On the other hand, the Momentum Indicator is showing divergence, thus, the pair may fall for the next few days.

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

 

[bhanu545]

GBP/USD - Strong resistance at 1.5330 - for May 31, 2013

Trading this morning the pound continued an upward trend, which aims to 1.5330. It met the objective, the daily fractal that we mentioned. If you look at the chart you will notice that the 1.53 level is a strong resistance area, so we could indicate the formation of a continuation pattern, which would be located at 1.47 for the next few months. Therefore, being firmly established the 1.5330 area is a key to the bearish outlook of the pound. Therefore, it is recommended to sell if the price is about the quote today or for the next few days below 1.5330 with the first target in the 1.5083 fractal. The Momentum Indicator is breaking the MACD moving average, we know this signal is showing resistance levels.

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

 

[bhanu545]

EUR/USD intraday technical and fundamental review for June 3, 2013

EUR/USD ended last week's trading with a positive weekly candlestick. However, it has not confirmed its bullish direction as the pair is still trading below 1.3050 which comes to meet a downtrend line that extends from 1.3700. This week, the pair has a neutral zone extending from 1.2880 to 1.3050, breakout off this area helps to resolve the case of accidental confusion experienced by the pair up and down since visiting support zone around 1.2800. Intraday movement remains bullish as long as the pair consolidates above 1.2950 to be targeting 1.3050 initially then 1.3150 while short-term direction remains bullish but with fixation above 1.2880-1.2850. Breakdown of 1.2880 brings back 1.2800 then 1.2750-1.2700 into consideration again. Fundamentally, data showed high manufacturing PMI unexpectedly for the Euro zone during the previous month, this supports the bullish view to some extent.

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

 

[bhanu545]

GBP/USD: weekly technical levels for June 3 -- 7, 2013

Trading recommendations:
According to previous events, the price has still been trapped between 1.5290 and 1.5188.
Buy above 1.5150 with the first target of 1.5240, it might resume to 1.5300. Stop loss should be set below 1.5125.
Below 1.5380 (161.8% of Fibonacci retracement levels) look for further downside with targets at 1.5290 and 1.5188. Stop loss should be set above 1.5410.
Strong levels:
1.5395, 1.5302, 1.5240 1.4935, 1.4995, 1.5156

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

 

[bhanu545]

EUR/USD - Sell below 1.3150 - for June 04, 2013

Yesterday the euro moved upwardly due to a surprising drop in the ISM Manufacturing, which fell just below the 50 level, indicating that there is a contraction in the sector. As a result, the U.S. dollar depreciated against all crosses. However, this morning at the American session the euro was trading below 1.31 level. Yesterday the pair found strong resistance, we can look to the euro as an opportunity to sell this pair. It is true that it has been progressively strengthened lately, but it does not give much security that it may stay above 1.31 for a long time, so we recommend selling below this level. If a pullback towards 1.3150 fractal area is observed it would be one good opportunity to sell with objectives to the psychological level of 1.30 and below to the nearest fractal of 1.2877.

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

 

[bhanu545]

GBP/USD - Strong resistance 1.5360 - for June 04, 2013

Yesterday the pound sterling showed an upward movement, exceeding the level of our fractal 1.5330, also led by lower measuring U.S. manufacturing ISM. If you remember our previous analysis, this pair met all our expectations we had been saying the 1.5330 level. However, the construction PMI in the UK exceeds 50 points, which separates contraction from expansion of the sector, for the first time since last November. It is likely to see grow of this pair in the next few weeks, but only if it can hold above the 1.5330 level. Therefore, below this level the pair will have much downward pressure. It is recommended to sell at any price below 1.5360 with short-term targets to the level of 1.5080.

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

 

[candle7779]

GBPUSD:

If starts bearish movement than aim will be 1.52980, and the next aim – 1.52186.

 

[candle7779]

AUDUSD:
I expect bullish movement and the target of it will be 0,96979. If the price against movement than stop loss will be at the level 0.96072.

 

[candle7779]

USDCAD:
Aim of bullish movement is 1.03653. If the price breaks the level 1.34340 the bearish target will be 1.03040.

 

[bhanu545]

GBP/USD - Key level 1.54- for June 05, 2013

The British pound managed to gain positions as due to the publication of data in the UK. The services PMI rose above expectations, and confirmed a broad expansion observed last month, leading to the pound near the 1.54 area. If we expect this pair continue to rise, the pound will exceed that maximum to confirm a path upward. Otherwise, it starts to decline that has its first support at 1.53, if you look at the chart in previous weeks this pair has struggled to overcome the level of 1.54. If the pair fails to hold above 1.54, it will confirm a pattern of continuation of downtrend that aims to 1.50 and 1.47 levels. Therefore, we recommend selling at any price below 1.54.

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

 

[bhanu545]

EUR/USD - Sell below 1.3150 - for June 05, 2013

This morning the euro was operating near the 1.31 area, with the first resistance at the maximum of the week. It touched touched 1.3105 twice. It will be very difficult for the euro to maintain the uptrend. So if you look at the graph, it is likely that the pair has a decline to 1.3040 support, the break of this level will open the door to fall to the nearest fractal, 1.2877. In addition, the Momentum Indicator is starting giving bearish signal which will be confirmed when the pair breaks 1.3040. Therefore, we recommend selling at any price below 1.3155.

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

 

[bhanu545]

EUR/USD - Key fractal 1.3155 - for June 06, 2013

This morning the EUR/USD was showing upward force due to the speech of Mario Draghi. It is expected to recover in the eurozone for the second half of the year, so the euro has been very optimistic. If you look at the chart the pair is touching the daily fractal line, 1.3155. A close above this level would lead it quickly to the level of 1.32, this is a strong resistance. On the other hand, below 1.3155 it will take more force sales because in this area the euro has always been tending to fall. The first objective is placed in 1.30 psychological level which coincides with the 200-day moving average and finally in the next fractal 1.2877.

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

 

[bhanu545]

GBP/USD - Overbought - for June 06, 2013

This morning the British pound reached its maximum since 9 May. In the short term it is presenting an uptrend, which can continue even above 1.5580 in the coming days. Looking at the graph we see that the pair has not sustained any correction. It is likely that this pair finds strong resistance at the 1.5580 fractal. On the other hand, a return to the fractal which has been broken at 1.5334 will be a good opportunity to buy back this up with goals in the medium term until 1.56. The Momentum Indicator mark is 0.006, this point is equal to overbought levels of May 6, marking an imminent correction of the pair.

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

 

[bhanu545]

EUR/USD intraday technical levels for June 7, 2013

TODAY's TECHNICAL LEVELS:
Breakout buy level: 1.3305.
Strong resistance: 1.3297.
Original resistance: 1.3284.
Inner sell area: 1.3271.
Target inner area: 1.3240.
Inner buy area: 1.3209.
Original support: 1.3196.
Strong support: 1.3183. B
reakout sell level: 1.3175.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3196 and 1.3284. The rate is accompanied by strong support at 1.3183 and by 1.3297 as strong resistance.
If EUR/USD breaks out and closes below the 1.3175 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3305 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 1.3209 and at 1.3271, a sell position. In this case, both targets should be located at the level of 1.3240.

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

 

[bhanu545]

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

On Wednesday, the GBP/USD pair expressed daily closure at 1.5409. As expected, this opened the way towards 1.5580 then 1.5620.
On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured Yesterday.
The pair is failing to fixate above 1.5603 (the high of May and the backside of the depicted broken bullish channel). This will probably lead to significant bearish retracement.
Intraday support is located around 1.5400-1.5380 where price action should be watched carefully. Consolidation again below 1.5380 invalidates the bullish scenario mentioned above.

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