Technical analysis on EU,GU and majors

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EUR/USD intraday technical levels for December 18, 2013

Since the beginning of the week, EUR/USD has moved in a range. The market is waiting for the U.S. FOMC desicion to be announced tonight. All the market participants concern about the tapering issue: when the Fed will start to scale back its $85 billion program. Today, we predict the EUR/USD price will move with low volatility during the European trading session, but high volatility is expected during the US trading session, because the Eurozone will release the German Ifo Business Climate Index, and the U.S. will reveal many important economic indicators such as Building Permits, Housing Starts, Flash Services PMI, Crude Oil Inventories, Federal Funds Rate, and FOMC Statement.

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

 

[bhanu545]

GBP/USD: technical analysis for December 18, 2013

GBP/USD: Resistance: 1.6390 (sell below this level). Support: 1.6166 (buy above this level after a retest in the short term). Trading recommendations: According to the previous events, the price has been between the levels of 1.6305 and 1.6245 The descending movement will probably be lower than the 1.6387 level with the first targets at 1.6335 and 1.62. Buy orders are recommended above the 1.6166 level with targets at 1.6290 and 1.6340. Note: The weekly pivot point for Decembe 16-20, 2013 will be determined at 1.6340.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 19, 2013

At the Europe market today, they will be released some news like Current Account; and the Spanish 10-y Bond Auction; when the US market starts they release some data like US-Unemployment Claims; US-Existing Home Sales; US-Philly Fed Manufacturing Index; CB Leading Index m/m; Natural Gas Storage, So We predict today the EUR/USD will move in low to moderate volatility at the European market session and with moderate volatility in the US market session.

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

 

[bhanu545]

Technical analysis of GBP/USD for December 19, 2013

GBP/USD: According to the previous events, the price has been between the levels of 1.6420 and 1.6355 The descending movement will probably be lower than the 1.6466 level with the first target at 1.6340 in order to test the weekly pivot point. If the price breaks it, then it will continue towards 1.6253. Buy orders are recommended above the 1.6250 level with a target at 1.6415 for December 19, 2013.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for December 20, 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. 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. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after. The 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 last week around 1.3790 (141.4% Fibo Expansion). For the current bearish impulse, as mentioned on Wednesday, daily closure below 1.3750 was a must to pursue further targets around 1.3680 then 1.3650 where the lower limit of the ongoing bullish channel is located. Bullish continuation is more enhanced today. The EUR/USD pair will probably be targeting 1.3750 initially as long as the bulls are defending the lower limit of the ongoing channel around 1.3650-1.3600.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 20, 2013

On October 23, the GBP/USD pair broke initially the 1.6200 level hitting the area of 1.6250. However, most of the bullish gains were lost when the pair established a Double Top reversal pattern around 1.6200-1.6250. Failure to break down the 1.5900 level was observed weeks ago. Instead, a bullish rejection led to another bullish swing again above 1.6200 which was bypassed so far. As depicted in the chart, price levels around 1.6300 correspond to the multiple previous tops that were established in 2012. Knowing that the high of 2012 year was around 1.6350, the bulls were trying to record new highs before the end of 2013 and they were successful to hit 1.6464 as a new high for 2013. Price area of 1.6440-1.6470 offered a bearish entry a week ago. Our initial targets were hit around demand zone at 1.6250. The long-term view remains bullish as long as the bulls are defending the newly established demand zone around 1.6250. On Tuesday, we mentioned Price Zone 1.6235-1.6250 as a considerable Demand zone for the cable. It did not take a long time to offer a valid BUY entry on Wednesday, our target level around 1.6400 was reached on the next day. On the depicted chart, we can also see some bearish rejection expressed at retesting of the upper limit of the "expanding wedge pattern". This offers a SELL signal with SL as daily closure above 1.6400. Our initial targets should be located at 1.6300, 1.6250 and possibly further lower targets. We need to see early breakdown of 1.6300. Otherwise, bullish tendency to breakthrough the upper limit of the bearish 4H channel will be enhanced, this may threaten our SELL position so we should take care.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for December 23, 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.
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.
Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after.
The 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 last week around 1.3790 (141.4% Fibo Expansion). For the current bearish impulse, as mentioned on Wednesday, daily closure below 1.3750 was a must to pursue further targets around 1.3680 then 1.3650 where the lower limit of the ongoing bullish channel is located.
Bullish continuation is more enhanced today. The EUR/USD pair will probably be targeting 1.3750 initially as long as the bulls are defending the lower limit of the ongoing channel around 1.3650-1.3600. Bullish daily candlestick was expressed on Friday enhancing this bullish scenario.
Daily closure below 1.3620 invalidates this short-term bullish view.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 23, 2013

On Dec 23, the GBP/USD pair broke initially the 1.6200 level hitting the area of 1.6250. However, most of the bullish gains were lost when the pair established a Double Top reversal pattern around 1.6200-1.6250. Failure to break down the 1.5900 level was observed weeks ago. Instead, a bullish rejection led to another bullish swing again above 1.6200 which was bypassed so far. As depicted in the chart, price levels around 1.6300 correspond to the multiple previous tops that were established in 2012. Knowing that the high of 2012 year was around 1.6350, the bulls were trying to record new highs before the end of 2013 and they were successful to hit 1.6464 as a new high for 2013. Price area of 1.6440-1.6470 offered a bearish entry a week ago. Our initial targets were hit around demand zone at 1.6250. The long-term view remains bullish as long as the bulls are defending the newly established demand zone around 1.6250. On Tuesday, we mentioned Price Zone 1.6235-1.6250 as a considerable Demand zone for the cable. It did not take a long time to offer a valid BUY entry on Wednesday, our target level around 1.6400 was reached on the next day. On the depicted chart, we can also see some bearish rejection expressed at retesting of the upper limit of the "expanding wedge pattern". This offered a SELL signal with SL as daily closure above 1.6400. Our initial targets should be located at 1.6300, 1.6250 and possibly further lower targets. We need to see early breakdown of 1.6300. Otherwise, bullish tendency to breakthrough the upper limit of the bearish 4H channel will be enhanced, this may threaten our SELL position so we should take care.

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

 

[bhanu545]

EUR/USD intraday technical levels for December 24, 2013

We predict today the EUR/USD will move in low to mid volatility, because today in Euro Zone, German have a bank holiday and only data will be released by France. It is French Consumer Spending m/m. The US will release some data such as US-Core Durable Goods Orders m/m, US-Durable Goods Orders m/m, US-HPI m/m, US-New Home Sales, US-Richmond Manufacturing Index. We must remember during the Christmas Eve until the New Years Eve the volatility will be decreased, because many market participants are out the market and this situation can make the price movement ranging and tend to be choppy.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3753.
Strong Resistance:1.3744.
Original Resistance: 1.3731.
Inner Sell Area: 1.3718.
Target Inner Area: 1.3685.
Inner Buy Area: 1.3652.
Original Support: 1.3639.
Strong Support: 1.3626.
Breakout SELL Level: 1.3617.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3639 and 1.3731. The rate is accompanied by strong support at 1.3626 and by 1.3744 as strong resistance. If EUR/USD breaks out and closes below 1.3617 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3753 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 1.3652 and at 1.3718, a SELL position. In this case both targets should be located at the level of 1.3685.

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

 

[bhanu545]

Daily analysis of GBP/USD for December 24, 2013

H1 chart: This pair has been moving between the 200 SMA and the levels of 1.6375 and 1.6331. If the pair manages to break these levels, it will be expected to define the intraday trend for the direction in which this pair makes the breakout. However, this pair has formed several fractals, which would mean that GBP/USD will continue to move slowly. The MACD indicator remains in neutral 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 1.6329.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for December 26, 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. 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. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after. The 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 last week around 1.3790 (141.4% Fibo Expansion). For the current bearish impulse, as mentioned last week, daily closure below 1.3750 was a must to pursue further targets around 1.3680 then 1.3650 where the lower limit of the ongoing bullish channel is located. Bullish continuation is more enhanced today. The EUR/USD pair will probably be targeting 1.3750 initially as long as the bulls are defending the lower limit of the ongoing channel around 1.3650-1.3600. Bullish daily candlestick was expressed on Friday enhancing this bullish scenario. Fundamentally, U.S. Durable goods orders exceeded expectations during the month of November according to official data that appeared this week manifested in the temporary failure to collect enough momentum to push higher within the ascending bullish channel. Daily closure below 1.3620 invalidates this short-term bullish view.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 26, 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 is why 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. Our targets were hit around 1.6320 and 1.6250. As it was mentioned last week, failure of the bears to break down 1.6250 allowed another bullish impulse towards 1.6400 to be initiated by the bulls supported by the positive fundamental news from the UK. Price levels around 1.6400 should be watched as it constitutes a confluence of resistance for the GBP/USD pair. Daily closure above 1.6430 invalidates the short-term bearish view opening the way for another strong bullish impulse towards 1.6500 initially.

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

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for December 27, 2013

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.� Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly after.� The 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 last week around 1.3800.� The previous bearish impulse, as mentioned last week, needed daily closure below 1.3750 to pursue further targets around 1.3680. However, bullish continuation was enhanced this week after Bullish daily candlestick was expressed last Friday. The EUR/USD pair will probably be targeting 1.3900 (100% Fibo Expansion ) as long as the bulls are defending the lower limit of the ongoing channel around 1.3650-1.3600. Daily closure below 1.3620 invalidates this short-term bullish view.�

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for December 27, 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 is why 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.�Our targets were hit around 1.6320 and 1.6250.� As it was mentioned last week, failure of the bears to break down 1.6250 allowed another bullish impulse towards 1.6400 then 1.6500 to be initiated by the bulls supported by the positive fundamental news from the UK. Price levels around 1.6500-1.6520 should be watched as it constitutes a confluence of resistance for the GBP/USD pair.� Daily closure above 1.6520 invalidates the short-term bearish view opening the way for another strong bullish impulse towards 1.6610 initially.

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

 

[bhanu545]

Weekly technical levels for EUR/USD for December 30, 2013

Trading recommendations: EUR/USD: Use historic prices to determine future prices; thus, according to previous events, the price has still been trapped between 100% of Fibonacci retracement levels at the level of 1.3892 and 00% of Fibonacci retracement at the 1.3624 level. Therefore, it will profitable to long buying above the price of 1.3625 with the first target of 1.3750 in order to test the weekly pivot point, if the trend will be able to break the 1.3750 level, then it might resume to 1.3880. A stop loss should be set below 1.3600. Please check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.

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

 

[bhanu545]

Weekly technical levels for GBP/USD for December 30, 2013

Trading recommendations:� Resistance 1 and support 1 are considered to be clear indicators of the maximum range of extreme volatility today on December 30, 2013, though it is possible to pass them through, it should be noted that the weekly pivot point will set at the level of 1.6457 therefore the pivot lines work well on the sideways markets, as the prices are most likely to be located between the resistance 1 and support 1 lines. Hence, according to the previous events, the GBP/USD pair has still been trapped between 1.6550 and 1.6377
Forecast: Buy above 1.6340 with the first target of 1.6560, it might resume to 1.6580. Below 1.66 look for further downward movement with 1.5560 and 1.6350 targets.

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

 

[bhanu545]

Technical analysis of EUR/USD for December 31, 2013

Today, it is a Bank holiday in Germany and in the Euro zone there is no data to be released as it is the New Year's Eve. Only the US will release the US-Consumer Confidence data, so there is a big probability for the EUR/USD price action today to move with low volatility.
TODAY's �TECHNICAL �LEVELS: Breakout BUY level: 1.3878. Strong Resistance:1.3869. Original Resistance: 1.3856. Inner Sell Area: 1.3843. Target Inner Area: 1.3810. Inner Buy Area: 1.3777. Original Support: 1.3764. Strong Support: 1.3751. Breakout SELL level: 1.3742. �
DESCRIPTION �:
Today EUR/USD has support and resistance at 1.3764 and 1.3856. The rate is accompanied by strong support at 1.3751 and by 1.3869 as strong resistance. If EUR/USD breaks out and closes below 1.3742 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above 1.3878 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 1.3777 and at 1.3843, a SELL position. In this case both targets should be located at the level of 1.3810.

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

 

[bhanu545]

Elliott Wave Analysis of AUD/USD for December 31, 2013

AUD/USD Elliott Wave At the beginning of this week the AUD/USD pair has been trading sideways, corrective wave (iv) (coloured red) of the bigger wave 1 (coloured green) has been developing. Yesterday's upward movements from 0.8331 towards 0.8957 level may ondocate that the corrective wave (iv) as a flat pattern. In the 1-hour chart we can see that blue c wave is almost over and that is why we are going to look for selling opportunity in the AUD/USD pair while price stays below 0.9000 level. In accordance with our wave rules and taking into account that wave 5 should retrace 161.8% of wave 4, we can define the potential targets with measuring wave 4 with take profit at 0.8735 (161.8% of wave 4).
Support and Resistance (S3) 0.8752, (S2) 0.8792, (S1) 0.8848, (PP) 0.8888, (R1) 0.8944, (R2) 0.8984, (R3) 0.9040. Trading forecast Proceeding from the Elliot Wave rules today, the trend is expected to begin the downward movement. That is why short positions at level 0.8920 with stop loss at 0.8900 and take profit at 0.8735 are recommended. Nicola Delic is taking part in the "Analyst of the Year" award organized by MT5.com portal. If you like his article, please vote for him.

Performed by Nicola Delic, Analytical expert
InstaForex Group © 2007-2013

 

[bhanu545]

EUR/USD intraday technical levels and trading recommendations for January 2, 2014

Readings of the European Statistical Office disclosed three weeks ago showed that the European inflation was 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. Around 1.3800, previous daily candlesticks represented indecision initiating a bearish retracement towards 1.3450 which failed to provide strong support, and then 1.3280 was tested shortly. The 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 allowed the pair to reach the next supply levels around 1.3650 then 1.3750, respectively. Bearish rejection was witnessed last week around 1.3800. The last bearish impulse, as mentioned last week, failed to break down 1.3650. Instead, the market bulls were trying to push towards 1.3900 when daily closure at 1.3745 was expressed on Friday. The EUR/USD pair failed to reach 1.3900 (100% Fibo Expansion ). Instead, bearish rejection is manifested today to push towards 1.3630-1.3600 (the most recent DEMAND level). A daily breakdown below 1.3600 invalidates the short-term bullish view confirming a possible double-top pattern which will be targeting at 1.3460 initially.

Performed by Michael Becker, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for January 02, 2014

At the daily charts, the GBP/USD is moving in a sideways direction, however the Stochastic Oscillators have already indicated that this currency gets the downside pressure. If we look at the Moving Average periods 3x3, which we projected for three days ahead, they indicated the slope that want to be flat. So even for now the "Cable" has already got the downside pressure for a few days. This pair will be moving in a ranging situation especially in the first week of January 2014 because not many market participants enter the market.

Performed by Arief Makmur, Analytical expert
InstaForex Group © 2007-2014