Technical analysis on EU,GU and majors

[bhanu545]

EUR/USD intraday technical levels for December 04, 2013

When the European market open, there will be release of some news from Euro Zone like Revised GDP q/q, Retail Sales m/m, Final Services PMI, Italian Services PMI, Spanish Services PMI; and after the US market opens, there will be release of some news too like US-ADP Non-Farm Employment Change, US-Trade Balance, US-ISM Non-Manufacturing PMI, US-New Home Sales. So as a result the EUR/USD will move in moderate volatility during the European session and the US session.
TODAY's TECHNICAL LEVEL:
Breakout BUY Level: 1.3651.
Strong Resistance:1.3643.
Original Resistance: 1.3630.
Inner Sell Area: 1.3617.
Target Inner Area: 1.3585.
Inner Buy Area: 1.3553.
Original Support: 1.3540.
Strong Support: 1.3527.
Breakout SELL Level: 1.3519.
DESCRIPTION :
Today EUR/USD has support and resistance at 1.3540 and 1.3630. The rate is accompanied by strong support at 1.3527 and by 1.3643 as strong resistance. If EUR/USD breaks out and closes below 1.3519 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3651 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 1.3553 and at 1.3617, a SELL position. In this case both targets should be located at the level of 1.3585.

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

 

[bhanu545]

GBP/USD: daily analysis for December 04, 2013

Daily chart: The GBP/USD is forming a bullish pattern below the resistance at 1.6447 level, but it seems that this pair will begin a phase of corrective movements. If the pair manages to break that level, it is expected to rise to the level of 1.6540, which would be something forceful to consolidate the bullish trend in the GBP/USD. Moreover, if this pair does break the support at the level of 1.6326, it is expected to fall to the level of 1.6235. The MACD indicator is entering extreme overbought zone.

H1 chart: This pair continues to find resistance at 1.6419 level and now, the GBP/USD is trying to form a bearish pattern, which we hope will not be completely finished, because this pair formed a fractal near the level of support 1.6375. If this pair managed to break the resistance level at 1.6419, which is expected to rise to the level of 1.6464. The MACD indicator is still in negative territory.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 05, 2013

The eurozone will release the Minimum Bid Rate and it is likely to be unchanged at 0.25%; after that the ECB press conference will take place; for the US market session important data will be US-Prelim GDP q/q; US-Unemployment Claim; US-Factory Orders m/m; & US-Natural Gas Storage; so we expect the EUR/USD will move in moderate to high volatility, especially amid the Minimum Bid Rates release.
Today's technical levels:
Breakout BUY Level: 1.3647.
Strong Resistance:1.3639.
Original Resistance: 1.3626.
Inner Sell Area: 1.3613.
Target Inner Area: 1.3581.
Inner Buy Area: 1.3549.
Original Support: 1.3536.
Strong Support: 1.3523.
Breakout SELL Level: 1.3515.
Description:
Today, the EUR/USD has support and resistance at 1.3536 and 1.3626. The rate is accompanied by strong support at 1.3523 and by 1.3639 as strong resistance. If the EUR/USD breaks out and closes below 1.3515 level today, it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and close above 1.3647 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 1.3549 and at 1.3613, a SELL position. In this case, both targets should be located at the level of 1.3581.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 5, 2013

Strong bullish sentiment was found at the support zone around 1.4830, which pushed the pair to hit 1.5700, where two prominent tops were established untill the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established.
It is worthy to mention, that the market initially expressed a bearish rejection around 1.6200 which resulted in an Inverted Hammer weekly candlestick. That is why a bearish movement was expected last weeks provided that the bears continue defending the weekly high at 1.6200. However, the lack of bearish momentum enhanced by the weakness of USD allowed the bulls to step above 1.6200.
The pair failed to breakdown support zone located around 1.5950-1.6040. However, bullish rejection was manifested around 1.5860 failing to complete the projected targets of the double-bottom pattern. Instead, the bulls are now pushing above 1.6300 in attempt to exceed the highest level of 2013 around 1.6340. The bulls are successful so far as they recorded a new high at 1.6440.
Yesterday, the GBP/USD pair expressed a Hanging-Man daily candlestick which came after a Shooting-Star one that resulted after testing of 1.6440 where the backside of the broken uptrend is located.
A sell entry may be taken at retesting of price levels around 1.6440. SL should be set as daily closure above 1.6470.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 06, 2013

Today the EUR/USD has support and resistance at 1.3620 and 1.3712. The rate is accompanied by strong support at 1.3607 and by 1.3725 as strong resistance. If the EUR/USD breaks out and closes below 1.3598 level today, then it will indicate considerable bearish strength. Meanwhile, if the EUR/USD manages to break out and closes above 1.3734 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 1.3633 and at 1.3699, a SELL position. In this case both targets should be located at the level of 1.3666.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 6, 2013

Strong bullish sentiment was found at the support zone around 1.4830, which pushed the pair to hit 1.5700, where two prominent tops were established untill the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established. It is worthy to mention, that the market initially expressed a bearish rejection around 1.6200 which resulted in an Inverted Hammer weekly candlestick. That is why a bearish movement was expected last weeks provided that the bears continue defending the weekly high at 1.6200. However, the lack of bearish momentum enhanced by the weakness of USD allowed the bulls to step above 1.6200. The pair failed to breakdown support zone located around 1.5950-1.6040. However, bullish rejection was manifested around 1.5860 failing to complete the projected targets of the double-bottom pattern. Instead, the bulls are now pushing above 1.6300 in attempt to exceed the highest level of 2013 around 1.6340. The bulls are successful so far as they recorded a new high at 1.6440. Yesterday, the GBP/USD pair expressed a Hanging-Man daily candlestick which came after a Shooting-Star one that resulted after testing of 1.6440 where the backside of the broken uptrend is located. A sell entry may be taken at retesting of price levels around 1.6440. SL should be set as daily closure above 1.6470.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 09, 2013

During the European session, some news like German Trade Balance; Sentix Investor Confidence; German Industrial Production m/m will be released; but at the US session no news will be released today, so we predict EUR/USD will move in slow to moderate volatility condition today.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3775.
Strong Resistance:1.3766.
Original Resistance: 1.3753.
Inner Sell Area: 1.3740.
Target Inner Area: 1.3707.
Inner Buy Area: 1.3674.
Original Support: 1.3661.
Strong Support: 1.3648.
Breakout SELL level: 1.3639.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3661 and 1.3753. The rate is accompanied by strong support at 1.3648 and by 1.3766 as strong resistance. If EUR/USD breaks out and closes below 1.3639 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3775 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 1.3674 and at 1.3740, a SELL position. In this case both targets should be located at the level of 1.3707.

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

 

[bhanu545]

GBP/USD weekly technical levels for December 9-13, 2013

GBPUSD: According to the previous events, the price has still been trapped between 1.6360 and 1.6300.
Long buying:
Buy above 1.8280 with the first target at 1.6350 in order to form a double top, it might resume to 1.6430 to test the first resistance on December 9-13, 2013.
Short selling:
Outlook: Below 1.6441, look for further downside with 1.8385 and 1.6310 targets. It should be noted that at the level of 1.6292, a double bottom will be formed.
Notes:
Projected high: 1.6440
Range: 210 pips (weekly).
Projected low: 1.6215

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

 

[bhanu545]

GBPUSD: daily analysis for December 10, 2013

Daily chart: During yesterday's session, the pair had a significant bullish momentum above the support level at 1.6326, and now this pair is trying to make a breakout at the level of 1.6447. If the pair manages to break that level, it is expected to rise to the level of 1.6540. On the other hand, it is very likely that this pair start to make corrective movements after that breakout. The MACD indicator is still in positive territory.

H1 chart: This pair managed to break the resistance level at 1.6419 and now GBPUSD is consolidating above this level with the formation of a bullish pattern (lower high pattern). If this pair manages to break the resistance level of 1.6464, it is expected to rise to the level of 1.6507. Moreover, if this pair does break the support at the level of 1.6419, it is expected to fall to the level of 1.6375. The MACD indicator is entering extremely overbought zone.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6464, take profit is at 1.6507, and stop loss is at 1.6419.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 10, 2013

After the European market opens, there will be a release of some news from eurozone like French Industrial Production m/m; Italian Industrial Production m/m; ECOFIN Meetings; and a few hours before the US market opens, the ECB President Draghi will speak. This event will be one of the most important moment to watch by the market participants. After the US market opens, some news like NFIB Small Business Index; JOLTS Job Openings; Wholesale Inventories m/m will be released; so we predict EUR/USD today will move with low to moderate volatility.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3806.
Strong Resistance:1.3797.
Original Resistance: 1.3784.
Inner Sell Area: 1.3771.
Target Inner Area: 1.3738.
Inner Buy Area: 1.3706.
Original Support: 1.3692.
Strong Support: 1.3679.
Breakout SELL level: 1.3670.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3692 and 1.3784. The rate is accompanied by strong support at 1.3679 and by 1.3797 as strong resistance. If EUR/USD breaks out and closes below 1.3670 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3806 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 1.3706 and at 1.3771, a SELL position. In this case both targets should be located at the level of 1.3738.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 11, 2013

EUR/USD today will move with moderate volatility because during the European and the US market sessions, some news which has a good impact to the market will be released; at the European trades they will release the French Final Non-Farm Payrolls q/q; and the German Final CPI m/m. At the US market session they will release Crude Oil Inventories; 10-y Bond Auction; Federal Budget Balance, so please be prepared to your trade and your position if you already open your trade the previous day.
TODAY's TECHNICAL LEVELS:
Breakout BUY level: 1.3827.
Strong Resistance:1.3818.
Original Resistance: 1.3805.
Inner Sell Area: 1.3792.
Target Inner Area: 1.3759.
Inner Buy Area: 1.3726.
Original Support: 1.3713.
Strong Support: 1.3700.
Breakout SELL level: 1.3691.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3713 and 1.3805. The rate is accompanied by strong support at 1.3700 and by 1.3818 as strong resistance.
If EUR/USD breaks out and closes below 1.3691 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3827 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 1.3726 and at 1.3792, a SELL position. In this case both targets should be located at the level of 1.3759.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 11, 2013

Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to hit 1.5700, where two prominent tops were established untill the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established.
It is worthy of note, that the market initially expressed a bearish rejection around 1.6200 which resulted in an Inverted Hammer weekly candlestick which established a consolidation range down to 1.5920. However, the lack of bearish momentum enhanced by the weakness of USD allowed the bulls to step above 1.6200.
The pair failed to breakdown support zone located around 1.5925. That's why a bullish rejection was manifested around 1.5860 failing to complete the projected targets of the double-top pattern. Instead, the bulls managed to exceed the highest level of 2013 around 1.6340 recording a new high for 2013 at 1.6463.
A sell entry was suggested at retesting of price levels around 1.6440. SL should be set as daily closure above 1.6470. It's running in profits now. Our initial target should be set at 1.6360.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for December 12, 2013

The price zone of 1.3400-1.3460 represented a valuable supply zone that kept the price below for few months. However, a significant bullish support was present around 1.3100 leading to a bullish breakout pattern.
According to readings of the European Statistical Office disclosed three weeks ago, the European inflation was at 1.1% in September, in line with preliminary projections, while it settled at 1.3% in August. This constituted to the recent bullish jump that took place on October 22.
Previous daily candlesticks represented indecision around 1.3800 initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after.
Price zone of 1.3280 - 1.3300 provided strong demand for the pair pushing it higher above 1.3400 - 1.3450 (prominent technical levels). Persistence of the current bullish channel to push above 1.3450 level allowed the pair to reach the next supply levels around 1.3650 then 1.3750 respectively.
Bearish rejection was witnessed yesterday around 1.3790 (141.4% Fibo Expansion). However, a bullish breakthrough above this level will enable the bulls to reach 1.3910 (important weekly supply level).
For the current bearish impulse, daily closure below 1.3750 is a must to pursue further targets around 1.3680 initially.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 12, 2013

Strong bullish sentiment was found at the support area around 1.4830, which pushed the pair to 1.5700, the level where two prominent tops were established, until the bulls initiated another bullish impulse towards 1.6200 where other two prominent tops were established.
It is worthy of note, that the market initially expressed a bearish rejection around 1.6200 which resulted in an Inverted Hammer weekly candlestick which established a consolidation range down to 1.5920. However, the lack of bearish momentum enhanced by the weakness of USD allowed the bulls to step above 1.6200.
The pair failed to breakdown support zone located around 1.5925. That's why a bullish rejection was manifested around 1.5860 failing to complete the projected targets of the double-top pattern. Instead, the bulls managed to exceed the previous high of 2013 around 1.6340 recording a new high for 2013 at 1.6463.
A sell entry was suggested at retesting of price levels around 1.6440. SL should be set as daily closure above 1.6470. It's running in profits now. Our initial target should be set at 1.6320, then possibly 1.6250.

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

 

[bhanu545]

EUR/USD: trading recommendations for December 13, 2013

It should be noted that we have got a weekly pivot point at the level of 1.3800. In addition, a tiny gap has opened above the weekly pivot point. Therefore, the market will probably indicate a bearish opportunity at the level of 1.3800 and the weekly resistance will act as strong resistance at the level of 1.3795. Thus, according to the previous events, the price has still been below 1.3800. Thenceforward, the area below 1.3817 (below 161.8% of Fibonacci retracement levels) looks for further downside with the 1.3715 and 1.3666 targets.
However, stop loss should be placed above 1.3853.
Support: 1.3800
Resistance: 1.3645
Intraday technical levels:
Date: 13/12/2013
Pair: EUR/USD
R3: 1.3855
R2: 1.3828
R1: 1.3790
PP: 1.3763
S1: 1.3725
S2: 1.3698
S3: 1.3660

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

 

[bhanu545]

GBPUSD: daily analysis for December 13, 2013

H1 chart: GBPUSD has made a slight bullish rebound at the support level of 1.6331, but this still remains below the 200 SMA. If this pair manages to break the resistance level at 1.6375, which is expected to rise to the level of 1.6419, which is a fairly strong level in this chart. Moreover, if this pair does break the support at the level of 1.6331, it is expected to fall to the level of 1.6291. The MACD indicator is still in positive territory.

Trading recommendations for today:
Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6375, take profit is at 1.6419, and stop loss is at 1.6330.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 16, 2013

All attention of the market participants is now turned to the FOMC meeting scheduled this week, especially to the "tapering" issue, because the result will determine market participants' sentiment in the future. While we are waiting for the FOMC meeting, we predict the market will move under ranging condition. Today after the European market opens, there will be some data such as French Flash Manufacturing PMI, German Flash Manufacturing PMI, Flash Manufacturing PMI, Italian Trade Balance, Euro Zone Trade Balance; and when the US market opens tonight, there will be some data like US-Flash Manufacturing PMI, US-TIC Long-Term Purchases, US-Industrial Production m/m. So we predict EUR/USD to be a little bit volataile during the European and US trading sessions.

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

 

[bhanu545]

GBPUSD: Daily analysis for December 16, 2013

GBPUSD has performed a breakout below the support level of 1.6326. Now, it is very likely that this pair fall to the level of 1.6235, due to the strengthening of the current bearish trend in this pair. However, this is expected to begin forming a bearish pattern with some corrective movements to continue to drop. However, overall, this pair is still bullish, so we cannot anticipate and we say that GBPUSD is in a bearish trend in the long term. The MACD indicator is in extremely overbought zone and entering negative territory.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 17, 2013

Yesterday EUR/USD is moving in a tight range, this is happening because of the issue of tapering QE at the nearest December meeting. 29 from 63 economists believe the tapering will start this month and the rest believe in March 2014. If the tapering starts now in December 2013, it will change the investment direction of all market participants. That is why, many market participants are away from the market and waiting for the FOMC decision. This action makes EUR/USD move in a tight range. However, today we predict this pair will move with low to medium volatility during the European session because the Eurozone will release some data like German ZEW Economic Sentiment; CPI y/y; Core CPI y/y; ZEW Economic Sentiment. The US data such as CPI m/m; Current Account; NAHB Housing Market Index is on tap.

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

 

[bhanu545]

GBP/USD: daily analysis for December 17, 2013

The GBP/USD has been forming a higher low pattern below the 1.6326 level. It seems that this pair is unlikley to continue falling, because it is finding support at current levels. If the GBP/USD pair takes a bullish rebound, it's expected to rise to the level of 1.6447. Moreover, if this pair does break the support at the level of 1.6235, it is expected to fall to the level of 1.6146. The MACD indicator is still in negative territory.

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