Technical analysis on EU,GU and majors

[bhanu545]

EUR/USD Intraday technical levels and trade recommendations for July 8, 2013

On Friday, the EUR/USD pair expressed quite significant bearish weekly closure at 1.2830 after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in May as well as another buttom established in March. It's expected for the pair to gain some recovery off this support zone which will probably push towards 1.3000 for further testing before resuming the ongoing bearish momentum. It's important to note that the pair broke-down an uptrend line that was established on July 2012, this ensures the long-term bearish view for the pair. Price action should be watched around 1.2750-1.2820 for signs of bullish reversal in order to benefit from this expected correction move towards 1.3000 with SL as 4H closure below 1.2750 Fundamentally, the EUR/USD pair remains under selling pressure as there's deterioration of investor confidence in the euro zone in July unexpectedly, where concerns still affect the economy of the region regarding investor confidence.

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

 

[bhanu545]

GBP/USD weekly technical levels for July 8 - 12, 2013

According to the previous events, the price of the GBP/USD is still between the levels of 1.4960 and 1.4855. The descending movement will probably be lower than the 1.5030 level with the first targets at 1.4975and 1.4953. Buy deals are recommended above the 1.4730 level with targets at 1.49 and 1.5010.

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

 

[Coleen]

GBPUSD
It is possible bullish movement of this pair and if the pair breaks the level than the next target will be 1.4945.

 

[bhanu545]

EUR/USD intraday technical levels for July 9, 2013

Today the EUR/USD has support and resistance at 1.2818 and 1.2904. The rate is accompanied by strong support at 1.2805 and by 1.2917 as strong resistance. If the EUR/USD breaks out and closes below 1.2798 level today, then it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.2924 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 1.2831 and a SELL position at 1.2891. In this case both targets should be located at the level of 1.2861.

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

 

[bhanu545]

GBP/USD daily analysis for July 09, 2013

The GBP/USD made a strong bullish rebound on bullish trend line near the support at the 1.4894 level. It is very possible that this rebound is to form a higher low pattern and keep falling. If the GBP/USD manages to break this support and that trend line, it's expected to fall to the level of 1.4719. This is an area where the strength of the buyers will be tested and treated to prevent further strengthening the bearish trend, therefore, we should be cautious about orders against the trend. The MACD indicator remains in negative territory and showing some weakness in GBP/USD bearish trend.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2013

 

[Coleen]

USDCAD:
I think it is better to buy this pair if the price breaks the level 1.05101. Target of bullish movement will be 1.05975.

 

[bhanu545]

EUR/USD intraday technical levels for July 10, 2013

Today the EUR/USD has support and resistance at 1.2733 and 1.2819. The rate is accompanied by strong support at 1.2720 and by 1.2832 as strong resistance. If the EUR/USD breaks out and closes below 1.2713 level today, then it will indicate a considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.2839 level, then it will denote a high bullish strength. Alternatively, for advance traders, you can trade in a way to open a BUY position at the level of 1.2746 and a SELL position at 1.2806. In this case both targets should be located at the level of 1.2776.

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

 

[bhanu545]

GBP/USD intraday technical levels and trade recommendations for July 10, 2013

The Cable witnessed a rapid fall towards 1.5025, breaking the corrective uptrend line which came to meet the pair around 1.5080 then support zone around 1.5000-1.5020. The demand level around 1.5000 (also a psychological support) was broken, supported by the positive fundamental data from U.S. last Friday. Currently, the pair is consolidating near support area extending down to 1.4830 (the low of March) which is expected to contain current decline and bring corrective movement towards 1.5100-1.5140 before any attempt of another decline.

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

 

[bhanu545]

EUR/USD intraday technical levels for July 11, 2013

Today the EUR/USD has support and resistance at 1.3071 and 1.3159. The rate is accompanied by strong support at 1.3058 and by 1.3172 as strong resistance. If the EUR/USD breaks out and closes below 1.3050 level today, then it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.3180 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 1.3084 and a SELL position at 1.3146. In this case both targets should be located at the level of 1.3115.

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

 

[bhanu545]

GBP/USD technical analysis for July 11, 2013

According to previous events, the price has still been trapped between 1.5060 and 1.5125, thus it is reasonable to be careful at this area. Therefore, the first step is waiting for a period of tight sideway range market before breakouts. So, the market will probably start showing the signs of bullish market at the level of 1.5015. In other words, it will be a good sign to buy above 1.5015 with a first target of 1.5180 and it will climb towards 1.53. However, if the the pair cannot break 1.5315, the market will indicate a bearish opportunity below 1.5315 (1.5301 will be formed double top), then the level will act really as strong resistance, for that it will a good sign to sell below 1.53 with a first target of 1.5185 and it will call for downtrend in order to continue bearish towards 1.5057 (50% Fibonacci retracement levels).

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

 

[bhanu545]

EUR/USD intraday technical levels for July 12, 2013

Today the EUR/USD has support and resistance at 1.3043 and 1.3131. The rate is accompanied by strong support at 1.3030 and by 1.3144 as strong resistance. If the EUR/USD breaks out and closes below 1.3022 level today, it will indicate a considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and close above 1.3152 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 1.3056 and a SELL position at 1.3118. In this case both targets should be located at the level of 1.3087.

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

 

[bhanu545]

GBP/USD intraday technical levels and trade recommendations for July 12, 2013

The Cable witnessed a rapid fall towards 1.5025, breaking the corrective uptrend line which came to meet the pair around 1.5150 then support zone around 1.5000-1.5020. The demand level around 1.5000 (also a psychological support) was broken, supported by the positive fundamental data from the U.S. last Friday. On Wednesday, while the pair was consolidating near support area extending down to 1.4830 (the low of March), strong bullish price action was expressed as expected to push the pair towards 1.5100-1.5140 before any attempt of another decline.

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

 

[bhanu545]

EUR/USD intraday technical levels for July 15, 2013

Today EUR/USD has support and resistance at 1.3043 and 1.3131. The rate is accompanied by strong support at 1.3030 and by 1.3144 as strong resistance. If EUR/USD breaks out and closes below 1.3022 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3152 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 1.3056 and at 1.3118, a SELL position. In this case both targets should be located at the level of 1.3087.

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

 

[bhanu545]

GBP/USD Wave analysis for July 15, 2013

The British pound has finished construction of the first wave of overwhelming down trend pattern. Thus, now building of prospective wave 2 or B with targets placed near 1.5171 and 1.5281, which is corresponding to 38.2% and 50.0% of Fibonacci. If current wave structure is correct, then after the wave 2 or B is completed, drop of the quotes may start with targets placed near the calculated levels of 1.4868 and 1.4739, which is corresponding to 161.8% and 200.0% of Fibonacci in terms of wave 3, or C.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

GBP/USD -narrow 150 pips range- consolidation, waiting for breakout for July 16, 2013

Strong bullish presence was expected to be found off support zone around 1.5830 which pushed the pair to the upside breaking through the upper limit of the 4H channel that again reached up to 61.8% Fibonacci level around 1.5180. Last week, on Friday, bearish price action was expressed around 61.8% Fibonacci level depicted in the daily chart around 1.5180 which was followed by the marked price fall that hardly reached 1.5020 (78% Fibonacci). Now there is an established temporary bottom around 1.4825, we need to see how the pair would react towards the previous broken bottom around 1.5130-1.5180 on daily basis. The bearish reaction expressed around 1.5180 (61.8% Fibo) may just be a move for collection of more buyers around 1.5000 to be able to push higher above 1.5200. That is why yesterday's daily candlestick has a long lower tail (reaching 1.5027) as depicted on the chart. Price zone 1.5025-1.5050 (78% Fibonacci and upper limit of the descending channel) should be watched as it may provide a valid BUY entry with SL located just below 1.4940.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for July 16, 2013

On Friday, the EUR/USD pair expressed weekly bullish engulfing candlestick that closed at 1.3067 after hiting the previously mentioned demand zone extending between 1.2750-1.2820. This demand zone corresponds to a previous low established in March as well as another bottom established in May, this pushed the pair to trade again above the depicted broken uptrend line. It was expected for the pair to gain some recovery off this support zone that pushed towards 1.3000, which was bypassed towards 1.3110 then 1.3200. It is important to note that daily closure below 1.3050 enhances the bearish view and supports resuming the ongoing bearish movement. Otherwise, the way towards 1.3225 remains open for further re-testing supported by the daily closure we had Yesterday above 1.3050.

Signs of bullish reversal appeared on Wednesday, which allowed bulls to benefit from this expected correction move towards 1.3000 with SL as 4H closure below 1.2750. Importance of 1.3050-1.3100 is manifested on the 4H chart as it corresponded to SMA 100 and previous congestion zone, indecision around this zone forced the pair to establish a consolidation triangle which was broken to the upside confirming the breakout opportunity with target at 1.3230. 4H closure below 1.3000 opens the way towards the recent lows around 1.2880 initially. Otherwise, breakthrough above 1.3100 opens the way directly towards 1.3225 where price action should be watched carefully. Fundamentally, the German economic sentiment index unexpectedly deteriorated in July, reflecting concerns about the impact of the euro zone debt crisis on the region's largest economies, according to industrial data released today.

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

 

[bhanu545]

EUR/USD - Sell at 1.3260 - for July 17, 2013 (daily strategy)

During the American trading session the EUR/USD pair has not changed. Federal Reserve Chairman Ben S. Bernanke said the central bank’s bond purchases “are by no means on a preset course” and may be reduced more quickly or expanded as economic conditions warrant, thus the US dollar erased its gains. Therefore, observing our chart, we can see that the euro has a resistance at 1.3260, if the first market reaction leads to these levels, it is more likely to back the pair below this level. Therefore, it is recommended to wait for this level to make an entry order. At this level you can sell with objectives to 1.3009.

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

 

[bhanu545]

GBP/USD - Sell below 1.5283 - for July 17, 2013 (daily strategy)

The pound sterling had an upward movement on all fronts because the BoE unanimous vote to maintain unchanged interest rates and bond purchase plan, as it has happened in recent months. This data gave strong upward movement; the pound is located below the 1.5283 weekly resistance. Given that this area is very strong and the markets are awaiting Bernanke's speech, if the price of the pair approaches these levels, we recommend sell below 1.5283 with targets at 1.5048, because it is showing overbought levels.

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

 

[bhanu545]

EUR/USD - Buy above EMA 200 - for July 18, 2013 (daily strategy)

This morning the euro is trading at levels of the exponential moving average of 200 days (EMA). This is a critical level, if the pair closes the day below this level it is more likely to continue until 1.30. Yesterday the US dollar appreciated 0.3 percent to $1.3087 per euro in a second daily advance. Therefore, it is recommended to buy at 1.3070 levels with goals in the first weekly resistance of 1.3260.

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

 

[bhanu545]

GBP/USD - Bearish outlook - for July 18, 2013 (daily strategy)

This morning the pound sterling was trading at the level of 1.5190. Given that yesterday it could not break the resistance zone of 1.5270, today it is located at 1.5190. It is more likely the pair continues falling, though, if at the American session the pair manages to rise to the level of resistance it would be a good opportunity to sell at these levels. The pound also weakened amid data on UK Retail Sales, in line with forecasts. Therefore, we recommend selling at current price levels, or if there is a pullback, keep selling, with objectives to support level 1.5048.

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