Technical analysis on EU,GU and majors

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EUR/USD intraday technical levels for June 10, 2013

Today EUR/USD has support and resistance at 1.3157 and 1.3245. The rate is accompanied by strong support at 1.3144 and by 1.3258 as strong resistance. If EUR/USD breaks out and closes below 1.3136 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3266 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 1.3170 and at 1.3232, a SELL position. In this case both targets should be located at the level of 1.3201.

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

 

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GBP/USD. Forecast for June 10, 2013

UK Visible Trade Balance in April was better than expected -8.22 billion pounds vs. expectations for -8.8 billion pounds. UK Trade Balance Non-EU was -3.41 billion pounds vs. forecast for -3.55 billion pounds. UK Trade Balance was -2.57 billion pounds vs. forecast -3.0 billion pounds. However, the positive was blighted by the inner structure; import and export dropped, meanwhile import decreased to a greater degree than export, it looks like the major figure grew. Starting from the news release and till the closure the pound was moving down, which partly proved the opinion about speculative growth on Thursday. Today there is no data on the UK. On Tuesday, weak data on Industrial production in April is expected. Int he short term we expect the pound will be lower than the Thursday's low. Technically, after the rate overcome the testing level 1.5564, the growth to the high of June 7, 1.5617, is possible. If the support of trend line on the H4 is broken 1.5503, the down ward movement to the range of Fibonacci 38.2% and the lower trend line 1.5382-1.5408 is possible.

Performed by Yuriy Zaycev, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD intraday technical levels for June 11, 2013

TODAY'S TECHNICAL LEVELS:
Breakout BUY Level: 1.3316.
Strong Resistance: 1.3308.
Original Resistance: 1.3295.
Inner Sell Area: 1.3282.
Target Inner Area: 1.3251.
Inner Buy Area: 1.3220.
Original Support: 1.3207.
Strong Support: 1.3194.
Breakout SELL Level: 1.3186.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3207 and 1.3295. The rate is accompanied by strong support at 1.3194 and by 1.3308 as strong resistance.
If EUR/USD breaks out and closes below 1.3186 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3316 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 1.3220 and at 1.3282, a SELL position. In this case both targets should be located at the level of 1.3251.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for June 11, 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 on Thursday.
The pair is trying to fixate above 1.5603 (the high of May). If bulls succeed in fixation above it, this will probably lead to another significant bullish impulse towards 1.5350.
Intraday support is located around 1.5485. Any bearish trial should overcome 1.5485 initially.
Around price zone 1.5400-1.5380, price action should be watched carefully for good BUY entries. Consolidation again below 1.5380 invalidates the bullish scenario mentioned above.

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

 

[bhanu545]

EUR/USD - Overbought for June 12, 2013

The euro is trading around 1.33 levels, currently at 1.3323, which indicates it is in the overbought area. This pair is preparing for a fall in the coming weeks. However, be careful with the size of the batch you operate when the euro goes down as the pair will soar. Thus, it is better to be cautious and low the leverage, however, the area of 1.3230, acts as the main support, and the break of this level by the euro could entail a major downward path. On the other hand, if the momentum indicator is showing bearish signal, expect a decline of the pair for the next few days to the level of 1.3155.

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

 

[bhanu545]

GBP/USD - Sell bellow 1.57 for June 12, 2013

This morning the British pound approaches to the key level of 200 period moving average. During the European session, the pair got a boost by the improvement in the number of requests for unemployment benefits reaching the high of 1.5685, same as last Friday, the break of which could extend the daily gains. However, in the short-term the pair appears to be overbought, already losing some points, the break of 1.5605 would pose a threat to the upward trend and downward pressure would intensify to 1.5477 with a strong resistance at that level. If the pair is away from the EMA 200, it could generate a double top with bearish implications for the medium term, with target in 1.5270 area. Therefore, we recommend selling the pair at any price below 1.57 with short-term objectives to the daily fractal 1.5336.

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

 

[bhanu545]

EUR/USD - Strong fractal 1.3387 - for June 13, 2013

This morning in the early American session the EUR/USD pair fell after making a maximum in the 1.3390 area. It stopped just at the daily fractal area of 1.3388. Given that this morning it is trading below 1.33, we hope you find support in the nearest fractal, 1.3227. At this level we recommend buying the pair with objectives to the 1.3380 resistance level. However, if the pair does not reach this area, the euro could make a pullback again towards the 1.3380 area. At that level selling of the euro is recommended with targets up to 1.3227 and further down 1.3165.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for June 13, 2013

Last week, the GBP/USD pair closed at 1.5409. As expected, this opened the way towards 1.5580 and then 1.5680. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured last Thursday targeting 1.5590. The pair fixed above 1.5603 (the high of May). This leads to another significant bullish impulse towards 1.5680-1.5700 (last week's high and backside of the broken channel). Intraday support is placed around 1.5485. Any bearish trial should overcome 1.5485 initially. Around 1.5400-1.5380 area, price action should be watched carefully for good BUY entries. Another consolidation below 1.5380 invalidates the bullish scenario.

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

 

[bhanu545]

EUR/USD - Technical correction - for June 14, 2013

The euro has started the fall since early Friday. On Thursday the price closed at 1.3376. However, this pair was carried away from the height of 1.34 and technically it is about to lose a short-term uptrend, which is 1.3230 support area. The break of this level could accelerate downward move for the next few days. Therefore, given that at this level there is also the daily fractal, it is likely before it the euro tries to bounce, so you can buy at this level with goals back to the 1.3380 area. On the other hand, a break of the 1.3230 level and a daily close below this level will be the time to sell the euro, until 1.3065/00 levels.

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

 

[bhanu545]

GBP/USD - Bearish outlook - for June 14, 2013 (daily strategy)

The British pound lost bullish strength, with a drop of over 100 points from its monthly maximum. However, if you look at the chart you will notice that this pair failed to close above the 200-day moving average. Given that it is away from yesterday's highs, it is likely to intensify the fall of the pair for the next week. Although there may be a recovery of the pound in the short term, especially as a pullback will be a good chance to sell this pair at resistance levels with target at 1.5350. On the other hand, next week will be crucial for the pair.

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

 

[bhanu545]

EUR/USD intraday technical levels for June 17, 2013

Today EUR/USD has support and resistance at 1.3308 and 1.3398. The rate is accompanied by strong support at 1.3295 and by 1.3411 as strong resistance. If EUR/USD breaks out and closes below 1.3287 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3419 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 1.3321 and at 1.3385, a SELL position. In this case both targets should be located at the level of 1.3353.

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

 

[bhanu545]

GBP/USD intraday technical analysis and trading recommendations for June 17, 2013

Daily closure at 1.5409 opened the way towards 1.5580, 1.5680, and 1.5730. On the 4H chart, the visible bullish pressure being applied over 1.5400 resulted in the explosive bullish movement that occured during last two weeks targeting 1.5590 then 1.5730 on Thursday. The pair consolidated above 1.5603 (the high of May). This leads to another significant bullish impulse towards 1.5680-1.5700 (former week high and backside of the broken channel). Price Zone 1.5700-1.5730 may provide considerable resistance for the pair. Hence, price action should be watched then for signs of reversal. Intraday support is placed around 1.5485, any bearish trial should overcome 1.5485 initially. Around 1.5400-1.5380 area, price action should be watched carefully for good BUY entries. Another consolidation below 1.5380 invalidates the bullish scenario.

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

 

[bhanu545]

EUR/USD - Strong resistance at 1.3428 - for June 18, 2013

In the European session the euro touched 1.34 area, however, it was unable to overcome it, due to the index issued by the Institute of German ZEW. Given that many are very optimistic for now, it is likely that during the next few hours it exceeds the maximum of 1.34 and look for the area 1.3428. This is a strong resistance, we believe that this area will stop the rise of this pair, so we recommend selling only if the pair makes a pullback to this level or trades below this. We must place our stop loss some 50 points above 1.3328 and for those operating in the medium term, above 1.35. We aim to find the nearest 1.3306, a close below this level will add strength to our bearish outlook with the end goal at 1.3184.

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

 

[bhanu545]

GBP/USD - Sell bellow EMA 200 for June 18, 2013

Yesterday at the American session the pound sterling had grown to the maximum of 1.5754. Now it backs hard on all fronts due to the reporting of PPI Input fell to -0.3% in May. If you look at the graph the British currency is bearish in the short term, but it is likely to see a rebound in the first weekly support is at 1.5554. However, this pair is below the 200-day moving average, which means that this pair is in bearish zone. On the other hand, the Momentum Indicator is about to break the moving average of the MACD. If it breaks, it will be a sign that it is time to sell the pair. Therefore, you can sell below 1.57, in daily resistance levels around 1.5670 with targets at 1.5402 in the short term.

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

 

[bhanu545]

EUR/USD - Caution - for June 19, 2013

The EUR/USD pair is very slow in movements from the European session and it may extend until noon ET. In this context it moves within the 1.34. It did not exceed the maximum on Tuesday and today it was 1.3415 so far. Overcoming this level, it extends its gains to 1.3431 area, the break of this level could take the euro to the second weekly resistance of 1.3516, without much difficulty. But the break in downward direction, 1.3360, changes the direction of pair which in this case will not have a flat very near, with a fall to at least 1.3260 during the following hours. Therefore, we recommend great caution because the Fed today announces or not announces a cut in its plan to stimulate the economy.

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

 

[bhanu545]

GBP/USD - Bearish outlook for June 19, 2013

This morning the British pound looked very bizarre in the American session, it moved without a clear direction. But also without the upward force shown in the previous days. The decline of British currency to 1.5640 could mean the beginning of medium-term downtrend. However, if you look at the chart, this pair is above the weekly pivot and below the 200-day EMA. It looks a bearish movement for the next few days will be observed, but since today relevant data will be revealed it is very likely to be volatile. Therefore, if the pair makes a pullback on the weekly R1 around 1.5799, you can sell only if the pair meets resistance, if you see this area fails you must wait until the next resistance to sell. We do not recommend buying at current levels because the Momentum Indicator is showing a bearish signal, which is most likely the decline of the pair.

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

 

[bhanu545]

EUR/USD - Bearish outlook - for June 20, 2013

The EUR/USD pair, from Tuesday and part of Wednesday's session remained motionless, trading above 1.34, a value that looked very high, without significant fundamental to justify it. After the Fed's announcement this pair fell in a few hours more than 200 points. However, observing the graph we notice that this pair has broken the first weekly support of 1.3219, and further down at 1.3190 is dynamic support that above this level has led to levels of 1.34, 1.36. If the euro loses this level, i.e. if the pair closes the week below this level the fall of the euro could accelerate to the area of 1.3092. However, if you look at the bottom of the chart you notice that Momentum Indicator broke the line of the moving average of the MACD which means that this pair may fall to the 1.30 area for the next few days. So it is recommended to sell if there is a pullback towards 1.3304 zone, with short-term objectives to 1.3090.

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

 

[bhanu545]

GBP/USD - Rebound for June 20, 2013

Yesterday after making a maximum at 1.5750 the British pound weakened amid the Fed's announcement. It just started a downward sequence as we mentioned yesterday when the Momentum Indicator had broken the moving average of the MACD, which was the time to sell. However, we expect a rebound in the pair, the second weekly support is at 1.5402, but a break of 1.54 could be extended lowering the British currency to the level of 1.5309. We believe that before continuing the fall, the pound should go up a little at least to the level of 1.5554 in this area you can sell short-term goals to the level of 1.53.

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

 

[bhanu545]

EUR/USD - Sell bellow 1.32 - for June 21, 2013

The euro was unable to recover the losses occurred on Wednesday. Yesterday it closed right at the level of 1.3219, the first weekly support level. Now in the morning during the American session, it is located at the level of 1.32. It is very likely that there is imminent fall of the pair, because if you look at our technical indicator MACD. It shows a sign of an imminent fall of the euro at least to support area of 1.3090, around the moving average 200. Therefore, it is recommended to sell at current levels around 1.32. In the short term we expect the pair reached the 1.30 area.

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

 

[bhanu545]

GBP/USD - Key level 1.5402 - for June 21, 2013

Yesterday the pound sterling could rebound to the 1.5550 area. However, it trades below 1.55 and moves to the level of 1.5402, very strong support level. Given that the 1.54 level has been a key to the decision of the pair, it is bullish or bearish. Therefore, it is recommended to buy above 1.5402 with targets up to 1.5554. On the other hand, a close below 1.54 will be the beginning of continuation of sales to the level of 1.5160 in the short term. If you look at the chart, the Momentum Indicator is finding support the current levels of price representing a rebound in the next few hours. But if the Momentum Indicator would break dynamic support, it would be sell signal with a fall of about 300 points. Therefore, we recommend observing the key level of 1.54.

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