EUR/USD - Buy above 1.3228 - for August 02, 2013 (daily strategy)
The euro remains within the range of rates between 1.3333 and 1.3290. This pair has expanded more this range, but does not define clearly the trend for the next few days. This morning in the American session the Non-Farm employment Change was published. The data that came out was less than economists had expected for the month of July. Non-Farm payrolls increased by 162,000 jobs in July, following a downwardly revised increase of 188,000 jobs in June. On the other hand, the unemployment rate fell to its lowest level since reaching 7.3% in December 2008. I July, it fell to 7.4% from 7.6% in June, experts expected 7.5%. Therefore, we believe that this pair even needs to make a bullish momentum, so a setback to 1.3230 fractal level will be a good opportunity to buy with objectives to the strong resistance level 1.3380 and daily fractal.
GBP/USD - Sell below 1.53 - for August 02, 2013 (daily strategy)
The downward pressure took the pound down to the 1.51 level. Right in the area of 1.5099 weekly support, since the Momentum Indicator failed to perform the breakdown of the MACD. This increases the likelihood of upward sequence for the next session. We believe the pair should stop at the level of the 100-day moving average around 1.53. This level will be key, so we recommend selling in this area with new objectives to 1.51. If we have a confirmation of the indicator, the pair could fall to the level of 1.48 in the short term.
EUR/USD weekly technical levels for August 5 - 9, 2013
Trading recommendations: According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3250 and 1.5290. Moreover, it should be noted that the market was so stable and trend was also too clear (upward), as well as a range was around 160 pips last week. Additionally, the value of 50% Fibonacci retracement levels is: (High + Low) / 2 = 1.3266 for that the key level of 1.3266 is represented for an uptrend to confirm a bullish market. Therefore, buy deals are recommended above the 1.3266 level with targets at 1.3340 in order to form double top at this level, and it will resume towards 1.3420. However, the descending movement will probably be lower than the 1.3430 level with the first targets at 1.3350 and 1.3285.
GBP/USD weekly technical levels for August 5 - 9, 2013
Trading recommendations:
GBP/USD: According to previous events, the price has still been trapped between 1.5300 and 1.5355. Buy above 1.5280 with the first target of 1.5350, it might resume to 1.5410. Below 1.5435 look for further downside with 1.5344 and 1.5295 targets.
General idea about the pivot point:
R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on the sideways markets, as the prices are most likely to be located between the R1 and S1 lines. Within a strong trend the price is expected to be lower than the pivot point line and continue the movement. If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.
GBP/USD - Sell below 1.5333 (fractal) - for August 06, 2013
The pound maintains the upward trend, derived from a solid manufacturing report in the UK, which reached its highest level since September 2012. The British currency is close to 1.54, and while it has slowed its upward movement, only a close below the 1.5333 fractal daily would direct the pound to 1.5080 support level. So we recommend you waiting a close below the 1.5333 fractal to sell, as the Momentum Indicator shows no bearish signal, which is supposed to continue the upward movement, but if there is a breakdown of the MACD line it would confirm the bearish signal.
The euro was between 1.33 and 1.3275 level for nine days. Today it is located at 1.3295 because of German factory orders report that keeps the rate near 1.33. Analyzing these unsuccessful attempts to hold the price above 1.3310, it is suggested that the bullish condition is disappearing; although the movements of the euro are cautious and slow. Only a daily close above 1.3325 would be an acceleration of the euro, 1.3380, the daily fractal strong resistance is located there. But also a low of 1.3230 could change the course of the EUR/USD pair to values lower than 1.3190 without delay. On the other hand, the Momentum Indicator has broken the line of the MACD, which means that bearish movement will be for the next few days. It will be confirmed with the fractal break 1.3230 with targets at 1.3190 and 1.3068.
EUR/USD - Bearish outlook - for August 07, 2013 (daily strategy)
The EUR/USD pair remains above 1.33 but shows a low, upward velocity. The trend and momentum indicators are located within the area of potential downside, testing the resistance of the MACD. We would have to see a strong break of resistance in the short term at 1.3370, for a turnaround because the euro's rise in the weekly graphics, which is only part of a correction. We expect the downtrend to continue to the level of 1.30 and maybe even below this level. On the other hand, the minimum from August 02 at 1.3191 should slow any fall, once the rate breaks this level the downward path will be easier to the euro.
GBP/USD - Sell bellow EMA 200 - for August 07, 2013 (daily strategy)
The British pound fell sharply to 1.5204 level and in a matter of two hours rebounded to the level of 1.5474. Due to the inflation report from the Bank of England, it is traded at this time, the highest since June 24. However, we see that the pair has momentum upward to above the 1.55 level, maybe reaching the 1.5533 level. At this level there is the 200-day moving average. The Momentum Indicator is set in a bearish channel and confirms the small upward path. Therefore, if the pair approaches the 1.5533 level, we recommend selling below this level at any price with targets at the level of 1.5332 and 1.5085.
The euro-dollar pair is trading near previous levels of June 19, due to the German trade balance surplus that came out better-than-expected and boosted the euro very close to the level we were talking about 1.3388 Fractal. Some people believe that Europe is beginning to provide some signs of recovery, of course, coming from the locomotive of the entire block Germany. Therefore, we believe that this area will stop the rise of this pair, because on this level, there is a downtrend line in weekly charts, which turns coinciding with our Momentum indicator, located below MACD line, and it is in bearish territory.
The British Pound is consolidating at yesterday's highs, after the BOE report on inflation, and back to the levels of rates of June 25, however, we believe this bullish momentum should stop at the 1.5585 fractal and very strong resistance area, so we recommend selling at this level because it is more likely to see correction for the next few days, however Momentum indicator is in bullish territory, and is even more likely to continue to rise until the area daily fractal, but a breakdown of the MACD line will be a signal to sell this pair, we recommend to stay cautionary.
EUR/USD - Sell Now, Below Fractal 1.3388 - for August 09, 2013 (daily strategy)
Yesterday the euro came off the levels of June 18 for the first time carrying a maximum at 1.34, driven by good data from Germany and a general market consensus to see a somewhat more stable for the immediate future in Europe, now it remains near that level in Friday's session, noting our graph we see the euro dollar is below 1.3388 fractal, this level is a very strong resistance, since the break of this level will open the door for an upward movement to the levels of 1.36 and 1.39, in the medium term while this level remains intact, we bet only lower to 1.3060, and below even the minimum levels of July around 1.2750. On the other hand, we note that the momentum indicator is located below the line of the MACD in bearish territory, showing a decline of the euro for the next few days.
GBP/USD - Sell Now for August 09, 2013 (daily strategy)
The British Pound, a few weeks ago was operating below 1.50, sentenced to be below 1.50, but managed to recover until this hour, and while its upward rally slows, still remains in an uptrend given if you look at the momentum indicator is in positive zone and above the MACD, which break the line, will be a clear signal of a downtrend for the British currency, the bullish scenario, only change, the breakdown of 1.5485, first support relevant, aiming to fractal nearest of 1.5331, and further down to the level of 1.5082. Therefore, we recommend you sell below 1.5533.
EUR/USD: Weekly and monthly pivot point and signal - for August 12 - 17, 2013
The euro succeeded in breaking the 1.33 area and also having broken the uptrend line at 1.3330 on 4-hour charts. The strongest area to note down is 1.3133 (M_PV), although to get to it, it must overcome a level of 1.3248 which represents 61.8% of the last bullish movement and also important first weekly support. This area can provide bounce for the pair, so we recommend buying at these levels. But if the pair breaks this level and closes the day below this level, it could accelerate its fall to the area of 1.3110. On the other hand, observing the monthly chart pivots, we believe that this pair must have an important support at 1.3133 monthly pivot. Therefore, we see the following trading signals will be valid for all this week.
GBP/USD: Weekly and monthly pivot point and signal - for August 12 - 17, 2013
The pound without much pressure has a downward direction against the dollar, but without defining its route to the American session. The sharp rise in the British currency observed last week was derived from fundamental UK data. The currency has not yet suffered a major correction and the same could take place during the next few hours, with the main stand at 1.5426, which is the weekly pivot point. This area could push the pound again to seek higher levels of quote or to make a triple top, for a confirmation of trend change. On the other hand, if the pair closes below the weekly pivot point of 1.5426, it would be a bearish signal with objectives to 1.5055.
EUR/USD - Sell below 1.3387 - for August 13, 2013 (daily strategy)
Yesterday, the Euro in the Week opening left a gap that was covered at the beginning of the day, after it had a significant correction to the levels of the 15-day moving average, now we see that this bouncing, hope this stops at 1.3360 area, given that today's European session will be unveiled German ZEW Economic Sentiment, the analyst expected at 40.3, to be more optimistic compared to the previous month of 36.3, therefore we believe that this data can drive the euro but only few make a pullback, since it is located in area of high pressure bearish according the indicator of MACD and Momentum. Therefore, we recommend the next signal on the chart below.
GBP/USD - Sell bellow EMA 200 for August 13, 2013 (daily strategy)
The Pound started the week with a downtrend mainly due to the strength of the U.S. dollar, although we note that the pair is back right now, but still the trend continues upwards in the short term, because if you look at the indicator Momentum which is above the MACD, which is most likely an upward movement or just a pullback to the resistance levels which is in the area of 1.5526, and also the level of the 200 day EMA, this level is key because below 1.5580, there is a lot of pressure downward, only a daily close above 1.56, will change the scenario, therefore we recommend to sell, according to the sign of the graph.
EUR/USD intraday technical levels for August 14, 2013
Today, EUR/USD has support and resistance at 1.3220 and 1.3308, respectively. The rate is accompanied by strong support at 1.3207 and by 1.3321 as strong resistance. If EUR/USD breaks out and closes below 1.3199 today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3329, then it will denote high bullish strength. Alternatively, for advance traders, you can trade in the way to open a BUY position at the level of 1.3233 and at 1.3295, a SELL position. In this case both targets should be located at the level of 1.3264.
According to the previous events, the price is still between the levels of 1.5500 and 1.5460. The descending movement will probably be lower than 1.5650 with the first targets at 1.5585 and 1.5426 (it should be noted that the price at 1.5426 is the weekly pivot point for August 12 - 16, 2013). Buy deals are recommended above 1.5430 with targets at 1.5500 and 1.5575 in order to form a double top, then if the price breaks this peak point, the market will resume towards the resistance at the level of 1.5650.
I really think that we must prepare for a breakout in eur/usd. last 6 months were too calm for this pair and I suspect there is going to be a big move. I recommend to follow a trend when the price makes a new 6-months highs or lows. It's going to be massive.
Trading recommendations:
According to the previous events, the price of the EUR/USD pair is still between the levels of 1.3250 and 1.3290. Moreover, it should be noted that the market was so stable and the trend was also too clear (upward). Similarly, the range was around 170 pips last week. Additionally, the value of 23.6% Fibonacci retracement levels is 1.3270 for that the key level of 1.3270 is represented for an uptrend to confirm the bullish market. Therefore, buy deals are recommended above the 1.3270 level with targets at 1.3324 in order to test the weekly pivot point, and it will resume towards 1.3363. However, the descending movement will probably be lower than the 1.3400 level (it will form a double top) with the first targets at 1.3340 and 1.3270. Intraday technical levels:
Date:15/08/2013
Pair:EUR/USD
Projected High:1.3447
Breakout (Buy Stop):1.3392
Strong Resistance (Sell Limit):1.3362
Current Pivot:1.3283
Strong Support (Buy Limit): 1.3203
Breakout (Sell Stop): 1.3178
Projected Low: 1.3128
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