EUR/USD intraday technical levels for June 24, 2013
Today EUR/USD has support and resistance at 1.3062 and 1.3150. The rate is accompanied by strong support at 1.3049 and by 1.3163 as strong resistance. If EUR/USD breaks out and closes below 1.3041 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3171 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 1.3075 and at 1.3137, a SELL position. In this case both targets should be located at the level of 1.3106.
The resistance has already set at the level of 1.5494 as well as the support has also been set at 1.5309. Therefore, according to the previous events, the price has still been trapped between 1.5450 and 1.5420, then it should be noted that the range today will be around 95 pips. Consequently, the trend on the time frame H1 is called for a bearish market at the level of 1.5494. Hence, below 1.5494 look for further downside move with targets at 1.5400 and 1.5309. On the other hand, buy above 1.5300 with the first target at 1.5412; it might resume to 1.5560 in this week in order to test the strong resistance at the level of 1.5500 for June 24 – 28, 2013.
EUR/USD intraday technical levels for June 25, 2013
Today EUR/USD has support and resistance at 1.3091 and 1.3179. The rate is accompanied by strong support at 1.3078 and by 1.3192 as strong resistance. If EUR/USD breaks out and closes below 1.3070 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3200 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 1.3104 and at 1.3166, a SELL position. In this case both targets should be located at the level of 1.3135.
Yesterday there was a day of respite for the pair, then the minimum of 1.5345 could recover from the downward pressure. If you look at the chart, right in this zone is the 50-day moving average (red). It acts as dynamic support, which is located at 1.5384. We should wait for a close below this level on 4-hour charts the pair resumes its downward sequence. The fact that it is now above 1.54 increases the likelihood of a pullback towards 1.5512 resistance. Given that this pair has fallen at least to the level of 1.50, as it is already known that the Fed’s program of quantitative easing will be reduced in the short term, and this will continue to weigh on the market, which in turn could fall more. Therefore, we recommend selling below 1.5484 or if there is a pullback towards the 1.55 area where you can re-sell the pair.
EUR/USD intraday technical levels for June 26, 2013
Today EUR/USD has support and resistance at 1.3031 and 1.3119. The rate is accompanied by strong support at 1.3018 and by 1.3132 as strong resistance. If EUR/USD breaks out and closes below 1.3010 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3140 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 1.3144 and at 1.3106, a SELL position. In this case both targets should be located at the level of 1.3075.
GBP/USD Intraday technical levels and trade recommendations for June 26, 2013
Obvious bearish rejection at 61.8% Fibonacci located around price level 1.5750 pushed the pair strongly below SMA 100 which came to meet the pair around 1.5400. Now the pair is trading below both 50% Fibo and SMA 100 which is enhancing the bears to achieve new lows. The current daily candlestick has already stepped below 1.5342 which is yesterday's low. On the 4H chart, the same events are manifested with clearer view. The cable is downtrnding within the depicted bearish channel, the upper limit of which prevented further upside movement during yesterday. We had obvious breakdown of 50% Fibonacci which opens the way towards 1.5295 which corresponds to 61.8% Fibo, previous buttom and the lower limit of the depicted channel. Price Level 1.5295 should provide considerable demand for the pair. Hence, a valid buy entry may be taken there. No speech of bullish retracement before fixation above 1.5380 (50% Fibonacci) again.
The euro fell during yesterday's session to around 1.30 psychological level. This level is important as it attracts a lot of attention of market participants, the fall of the euro also was found in first support weekly, 1.3007. This level is key to defining the movement of the euro, so above 1.30 the pair may ascend to the level of at least 1.32. If the pair closes below 1.30, it is more likely to observe a fall to the level of 1.28. However, given that the euro is trading above 1.30, we recommend buying with short-term objectives to 1.3120 and 1.3212. Observing the MACD indicator, we note that this is showing a sign of a likely rebound, because it has reached the base of the bullish channel, which guides the Momentum Indicator. This increases the chances of a bullish move above 1.30.
GBP/USD - Rebound around 1.5250 - for June 27, 2013
The pound is about to face the weekly support of 1.5272. This level is a massive support and may try to put pressure on the downside. If the pair stops in this area, it will be the time to buy. If the pair falls and then bounces back to this level, we can enter buying. However, if the pair closes the H4 below 1.5228, leave our bullish position. Since this week will be the end of the quarter we expect some volatility, and a rebound of the pairs trading against the dollar. However, one should be careful especially tomorrow, the pair could move around without a definite trend. On the other hand, observing the graph we note that the Momentum Indicator is showing a little sign of rebound, which will be confirmed by the pound if it stops between 1.5250/1.5272 levels.
Yesterday the EUR/USD pair bounced around the psychological level of 1.30. Therefore, it should not surprise us again to find support in this area. During the Friday’s session this pair reached the level of 1.31, although the upward force was not as expected. Given that this is the last day of the month, and many investors expect exit with a good take profit, in addition, the market will be attentive to the European council meeting, it will give the euro movement. The next week we will see the euro from another angle of perspective. Therefore, it is recommended to buy above 1.3007 with targets at 1.31 and 1.3112, stop loss is very adjusted to the level of 1.2970.
Yesterday data on UK Current Account in Q1 was disappointing; it dropped 14.5 billion pounds vs. forecast for -11.9 billion pounds. The pound lost 54 points. This morning strong data on Japan was published; Manufacturing PMI in Japan in June was 52.3 vs. 51.5 in May, Industrial Production in May grew 2.0% vs. forecast for 0.2%, Retail Sales rose 0.8% vs. forecast for 0.1%. At 5:00 GMT+4 Nikkei 225 added 1.95%; its optimism is expected at the European stocks. At 10:00 GMT+4 UK Nationwide House Price Index in June, forecast flat, 0.4%. As for the US, mixed data is expected here (Chicago Purchasing Managers Index is expected to be lower, US Consumer Confidence Index is estimated to be higher). Today sideways movement with bullish outlook is possible; it is expected amid positive data from Japan, the UK, and the US which will be published on Monday. From the technical point of view, if the price consolidates above the trend lien on the h4, higher than 1.5363, we expect the price at the low of June 24, 1.5341.The second target is at the level of Fibonacci 61.8%, which coincides with low of June 20, 1.5411.
EUR/USD intraday technical levels for July 1, 2013
Today EUR/USD has support and resistance at 1.2965 and 1.3038. The rate is accompanied by strong support at 1.2952 and by 1.3064 as strong resistance. If EUR/USD breaks out and closes below 1.2945 level today,it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3071 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 1.2978 and at 1.3038, a SELL position. In this case both targets should be located at the level of 1.3008.
GBP/USD weekly technical levels for July 1 - 5, 2013
According to the previous events, the price is still between the levels of 1.5240 and 1.5160. The descending movement will probably be lower than the 1.5280 level with the first targets at 1.5155 and 1.5025. Buy deals are recommended above the 1.5010 level with targets at 1.52 and 1.5273.
EUR/USD intraday technical levels for July 2, 2013
Today the EUR/USD has support and resistance at 1.3023 and 1.3109. The rate is accompanied by strong support at 1.3010 and by 1.3122 as strong resistance. If the EUR/USD breaks out and closes below 1.3003 level today, then it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.3129 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 1.3036 and a SELL position at 1.3096. In this case both targets should be located at the level of 1.3066.
GBP/USD intraday technical analysis and trading recommendations for July 2, 2013
On the 4H chart, the backside of the broken channel around rejected the pair twice at testing of price levels 1.5680 and 1.5750 respectively. Bearish rejection and strong bearish pressure applied around 1.5700-1.5730 led to this quick obvious breakdown of 1.5600-1.5580 that took place last week. The GBP/USD pair paused at support level 1.5380 (previous support on the daily chart and 61.8% Fibonacci on the 4H chart) then reached up to 1.5480, then on Wednesday we had bearish daily closure that opened the way down to 1.5220 and possibly 1.5130. Around 1.5130-1.5100 area, price action should be watched for good BUY entries with SL just below 1.5100, this price zone corresponds to a previous congestion zone depicted on the 4H chart. The price level 1.5400 stands as the next resistance which comes to meet the pair. The breakthrough above it opens the way for further bullish movement towards 1.5540 initially. Consolidation with daily closure below 1.5130 invalidates the bullish scenario of the pair for the current time. Instead, this opens the way towards previous low at 1.5000 established at May 29.
EUR/USD rebounds - daily strategy for July 03, 2013
The euro recovers after temporarily breaking the first weekly support 1.2945, reaching the minimum of this month in 1.2922, strong support from medium term. The current bullish momentum could reach 1.3048 area, where the weekly pivot is. Therefore, if the price of the pair backs to support levels, it will be a good opportunity to buy, with targets at 1.30 and 1.3048. On the other hand, after noon today we will feel the festive occasion of Independence Day that will take place on Thursday. Traditionally, the trading volume is lower. This pair has already fallen more by than 450 points from the levels of 1.34, which is the most likely recovery in the coming days.
GBP/USD: sell below 1.5283 - daily strategy for July 03, 2013
The British pound gains positions against the dollar after the release of the UK PMI services, with a better-than-expected increase. However, the dynamic short term is bearish and the pair is likely to face the 1.5283 level, weekly pivot point level. If the pair closes the day above this level, it will be a good opportunity to buy it in the long term, to the levels of 1.55. However, we recommend to sell below 1.5283 with targets at the area, 1.5133 and below until 1.50. The chart shows that the momentum indicator generates a slight bullish signal, it should only be confirmed by overcoming the 1.53 level.
EUR/USD: buy long above 1.2850 - daily strategy for July 04, 2013
The euro collapsed before the data remained strong above 1.30, but when it became known that the ECB's monetary policy remained unchanged, the euro fell to the level of 1.2877. This level is now recovering, therefore you can buy at this level, with objectives at 1.2945 and 1.3048. Observing the chart, we expect the euro to bounce slighly to 1.3050, where it will be possible to define the trend: if it rises above these levels, it could be bullish for the euro. Alternatively, it will be just an opportunity to sell at the levels of 1.2779 and 1.25. in the medium term.
GBP/USD rebounds above 1.50 - daily strategy for July 04, 2013
Yesterday the British pound stopped weekly pivot point, then from there started its fall to the current level of 1.5055. In the afternoon European session the monetary policy was unveiled remaining whith no changes, but the thing caused the decline was the "dovish" policy statement that collapsed all-day Wednesday gains. However, observing the chart, we see that this pair is below 1.5086 first weekly support. If the GBP/USD closes the week below this level, it is expected to fall deeper the level of 1.4968. On the other hand, a close above the weekly support, 1.5086 will be a good opportunity to buy, waiting for an upward movement of the pair to 1.5283 level. In our yesterday analysis we figured out a drop of the pair because the Momentum indicator was below the MCAD divergence line.
EUR/USD intraday technical levels for July 5, 2013
Today the EUR/USD has support and resistance at 1.2850 and 1.2936. The rate is accompanied by strong support at 1.2837 and by 1.2949 as strong resistance. If the EUR/USD breaks out and closes below 1.2830 level today, then it will indicate a considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.2956 level, 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 1.2863 and at 1.2923, a SELL position. In this case both targets should be located at the level of 1.2893.
According to previous events, the price has been trapped between 1.5115 and 1.5070, hence it is of the wisdom to be careful in this area. Therefore, the first step is waiting for a period of a tight sideways range market before breakouts. Then, it is probable that the market is going to start showing the bullish signs. In other words, it will be a good sign to buy above 1.4992 with the first target of 1.5060 and it will climb towards 1.5140. However, if the pair fails to break 1.5140, the market will indicate a bearish opportunity below 1.5140, then the level will act really as strong resistance; that it will be a good sign to sell below 1.5140 with the first target of 1.5555 and it will call for downtrend in order to continue bearish move towards 1.5009 (00% Fibonacci retracement levels), the level of 1.5009 will form a double bottom.
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