Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for January 28, 2014

GBP/USD had been moving within a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in mid-December that pushed the pair again to the upside. Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630. As suggested, bearish reversal was strongly expressed off 1.6660 (30 pips higher). The pair has declined about 150 pips few hours later. The 4H chart reveals prominent support levels located at 1.6490 and 1.6450. We can notice obvious bullish rejection of 1.6490 on Friday. Bullish momentum was still manifest during today's consolidations till few hours ago when bearish rejection was expressed on retesting of 1.6620. As suggested Yesterday, Profits of the BUY entry taken at 1.6470 should have been taken at 1.6575 then 1.6620. 4H closure above 1.6600 may indicate another bullish opportunity towards 1.6666 then probably new highs around 1.7000 roughly.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for January 29, 2014

When the European market opens, some economic news will be released such as GfK German Consumer Climate, M3 Money Supply y/y,Private Loans y/y,German 10-y Bond Auction.The US will release the most important economic data such as the US-Crude Oil Inventories, US-FOMC Statement & US-Federal Funds Rate, so amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3723.
Strong Resistance:1.3714.
Original Resistance: 1.3701.
Inner Sell Area: 1.3688.
Target Inner Area: 1.3655.
Inner Buy Area: 1.3622.
Original Support: 1.3609.
Strong Support: 1.3696.
Breakout SELL Level: 1.3587.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3609 and 1.3701. The rate is accompanied by strong support at 1.3696 and by 1.3714 as strong resistance. If EUR/USD breaks out and closes below the 1.3587 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3723 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 1.3622 and at 1.3688, a SELL position. In this case both targets should be placed at the level of 1.3655.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for January 29, 2014

GBP/USD had been moving within a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in mid-December that pushed the pair again to the upside. Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630. As suggested, the bearish reversal was strongly expressed at 1.6660 (30 pips higher). The pair has declined about 150 pips few hours later. The 4H chart reveals prominent support levels located at 1.6490 and 1.6450. We can notice an obvious bullish rejection at 1.6490 on Friday and recently this week. Bullish momentum was manifest all through the current week's consolidations until bearish rejection was expressed on retesting of 1.6620 on Tuesday. 4H closure above 1.6600 may indicate another bullish opportunity towards 1.6666 then probably new highs around 1.7000 roughly. On the other hand, bearish reversal is being expressed today and maybe preparing for another bearish impulse towards 1.6490.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis for EUR/USD for January 31, 2014

Technical outlook and chart setups:
1. The EUR/USD pair is back towards range bottom at the 1.3530/50 levels. It is recommended to keep short positions taken yesterday. A push through 1.3500 would prove to be extremely bearish, while risk remains at 1.3850.
2. Immediate resistance is at 1.3740/50, followed by 1.3850, while supports are spread through 1.3500 (intermediary), followed by 1.3400, 1.3300, 1.3100 and 1.2700 respectively.
3. The entire structure reveals that a major top formation has taken place at 1.3850/90 now, and the bear trend could possibly resume. The down side extensions are 1.3200 and 1.2800 respectively as seen here.
Trading recommendations:
Hold on to short positions, stop at 1.3850, target 1.32 and 1.28

Performed by Harsh Japee, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for January 31, 2014

GBP/USD had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in mid-December that pushed the pair again to the upside. Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630 which acts as a prominent resistance for the pair. As suggested, the bearish reversal was initially expressed at retesting of 1.6660 on January 24. Bullish momentum manifested itself through the current week's consolidations until bearish rejection was expressed on retesting of 1.6620 on Tuesday. The pair declined about 160 pips reaching a prominent support level located at 1.6450. As expected Yesterday, bullish reversal off 1.6450 pushed the pair towards 1.6490-1.6500 before further bearish movement took place to push again towards 1.6450. For today's consolidations, 4H-hour stabilization below price level of 1.6440-1.6400 is mandatory for further decline to take place. 4H closure below 1.6400 probably indicates another bearish impulse towards 1.6390 then probably 1.6310.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 3, 2014

When the European market opens, some economic news will be released such as Spanish Manufacturing PMI,Italian Manufacturing PMI,Final Manufacturing PMI. The US will release the most important economic data such as the US-ISM Manufacturing PMI,US-Construction Spending m/m,US-ISM Manufacturing Prices,US-Total Vehicle Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3550.
Strong Resistance:1.3542.
Original Resistance: 1.3529.
Inner Sell Area: 1.3516.
Target Inner Area: 1.3484.
Inner Buy Area: 1.3452.
Original Support: 1.3439.
Strong Support: 1.3426.
Breakout SELL Level: 1.3418.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3439 and 1.3529. The rate is accompanied by strong support at 1.3426 and by 1.3542 as strong resistance.
If EUR/USD breaks out and closes below the 1.3418 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3550 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 1.3452 and at 1.3516, a SELL position. In this case both targets should be placed at the level of 1.3484.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 3, 2014

GBP/USD had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in the mid-December that pushed the pair again to the upside. Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630 which acted as a prominent resistance for the pair. As suggested, the bearish reversal was expressed at retesting of 1.6660 on January 24. As depicted on the 4H chart, four-hour stabilization below the price zone of 1.6440-1.6490 was mandatory for further decline to take place. Quick decline took place towards 1.6310 shortly after. The price zone of 1.6310-1.6330 represents a confluence of support for the GBP/USD pair. A valid buy entry can be taken here with stop loss as four-hour closure below 1.6275.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 4, 2014

When the European market opens, some economic news will be released such as Spanish Unemployment Change, Italian Prelim CPI m/m, PPI m/m. The US will unveil the most important economic data such as the US-Factory Orders m/m, US-IBD/TIPP Economic Optimism. So amid the reports, the EUR/USD will move low to medium volatility during this day.
Today's technical levels:
Breakout BUY Level: 1.3589.
Strong Resistance: 1.3581.
Original Resistance: 1.3568.
Inner Sell Area: 1.3555.
Target Inner Area: 1.3523.
Inner Buy Area: 1.3491.
Original Support: 1.3478.
Strong Support: 1.3465.
Breakout SELL Level: 1.3457.
DESCRIPTION:
Today the EUR/USD has support and resistance at 1.3478 and 1.3568. The rate is accompanied by strong support at 1.3465 and by 1.3581 as strong resistance. If the EUR/USD breaks out and closes below the 1.3457 level today, it will indicate considerable bearish strength. Meanwhile, if it manages to break out and closes above the 1.3589 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 1.3491 and at 1.3555, a SELL position. In this case, both targets should be placed at the level of 1.3523.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 4, 2014

The GBP/USD pair had been trapped inside a wide-ranged price zone extending between 1.5900 and 1.6250 until November 27 when a bullish breakout took place. Since then, the bulls have been defending 1.6250 as a prominent support. Another successful bullish retesting took place in the mid-December that pushed the pair again to the upside. Based on this bullish breakout, the GBP/USD pair had a projection target around 1.6630 which acted as a prominent resistance for the pair. As suggested, a bearish reversal was expressed at retesting of 1.6660 on January 24. As depicted on the 4H chart, four-hour stabilization below the price zone of 1.6440-1.6490 was mandatory for further decline to take place. Quick decline took place towards 1.6300 shortly after. The price zone of 1.6310-1.6330 represents a confluence of support for the GBP/USD pair. A valid buy entry can be taken here with stop loss as four-hour closure below 1.6275. 4H breakdown of 1.6300-1.6275 will probably allow another bearish impulse to take place towards 1.6220 then 1.6130 possibly.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 5, 2014

When the European market opens, some economic news will be released such as Spanish Services PMI, Italian Services PMI, Final Services PMI, Retail Sales m/m.The US will release the most important economic data such as the US-ADP Non-Farm Employment Change, US-Final Services PMI, US-ISM Non-Manufacturing PMI, US-Crude Oil Inventories, so amid the reports, the EUR/USD will move medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3582.
Strong Resistance:1.3574.
Original Resistance: 1.3561.
Inner Sell Area: 1.3548.
Target Inner Area: 1.3516.
Inner Buy Area: 1.3484.
Original Support: 1.3471.
Strong Support: 1.3458.
Breakout SELL Level: 1.3450.
DESCRIPTION:
Today the EUR/USD has support and resistance at 1.3471 and 1.3561. The rate is accompanied by strong support at 1.3458 and by 1.3574 as strong resistance. If the EUR/USD breaks out and closes below the 1.3450 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3582 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 1.3484 and at 1.3548, a SELL position. In this case both targets should be placed at the level of 1.3516.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 5, 2014

The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse initiated quickly pushing the pair towards 1.6250 . Around 1.6250, previous multiple tops were established. That's why a considerable support is expected to be found there. Near 1.6250 extending down to 1.6200, the lower limit of the ongoing bullish channel comes to meet the pair. Bullish pressure may be expressed on retesting. On the other hand, breakdown of 1.6200-1.6250 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 6, 2014

When the European market opens, some economic news will be released such as Retail PMI, French 10-y Bond Auction, German Factory Orders m/m, Minimum Bid Rate, .The US will release the most important economic data such as the US-Trade Balance, US-Unemployment Claims, US-Challenger Job Cuts y/y, US-Prelim Nonfarm Productivity q/q, US-Prelim Unit Labor Costs q/q, US-Natural Gas Storage, so amid the reports, EUR/USD will move with medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3600.
Strong Resistance:1.3592.
Original Resistance: 1.3579.
Inner Sell Area: 1.3666.
Target Inner Area: 1.3634.
Inner Buy Area: 1.3602.
Original Support: 1.3489.
Strong Support: 1.3476.
Breakout SELL Level: 1.3468.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3489 and 1.3579. The rate is accompanied by strong support at 1.3476 and by 1.3592 as strong resistance. If EUR/USD breaks out and closes below the 1.3468 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3600 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 1.3602 and at 1.3666, a SELL position. In this case both targets should be placed at the level of 1.3634.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 6, 2014

The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse initiated quickly pushing the pair towards 1.6250 . Around 1.6250, previous multiple tops as well as bottoms were established. That's why a considerable support is expected to be found there. Near 1.6250 extending down to 1.6200, the lower limit of the ongoing bullish channel comes to meet the pair. Bullish pressure may be expressed on retesting. Sideway consolidation is taking place during the last three days maybe giving sometime for the bulls to gather enough momentum at retesting of the uptrend line. On the other hand, breakdown of 1.6200-1.6250 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially rendering the current bullish formation an "expanding wedge" reversal pattern. This will be highlighted if the bears manage to breakdown below 1.6200.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 7, 2014

Trading recommendations:
According to the previous events, the price of EUR/USD pair is going to move between the level of 1.3570 and 1.3650.
Buy above the level of 1.3570 (61.8% of Fibonacci retracement levels), with the first target of 1.3618 in order to form a double top in H1 chart, it might resume to the 1.3640 price. Conversely, the price may close below 1.3657 (127.2% of Fibonacci retracement levels) in H4 chart. Consequently, the price will call for a bearish market to go further towards the level of 1.3600 to test it. However, it should be noted that the stop loss should never exceed your maximum exposure amounts.
Tools of the chart:
The market was in uptrend. Moreover, the trend was so clear because the price moved lower to 1.3490; but the price of EUR/USD pair has been rebounding higher towards the level of 1.3618. Range was: 136 pips (upward). 1.3570 is the key level to confirm the bullish market.

Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 7, 2014

The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse initiated quickly pushing the pair towards 1.6250 . Around 1.6250, previous multiple tops as well as a recent bottom were established. That's why a considerable support is expected to be found there. Near 1.6250 extending down to 1.6200, the lower limit of the ongoing bullish channel comes to meet the pair. Bullish pressure is being expressed during this week on retesting. Sideway consolidation is taking place during the last three days maybe giving sometime for the bulls to gather enough momentum at retesting of the uptrend line. A bullish Head and Shoulders is being expressed probably to push towards 1.6450-1.6500 "prominent resistance zone". This bullish view remains valid as long as 1.6200 remains defended by the bulls. On the other hand, breakdown of 1.6200-1.6250 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially rendering the current bullish formation an "expanding wedge" reversal pattern. This will be highlighted if the bears manage to breakdown below 1.6200.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 10, 2014

When the European market opens, some economic news will be released such as French Industrial Production m/m, Italian Industrial Production m/m, Sentix Investor Confidence.The US will not release any economic data for today, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3689.
Strong Resistance:1.3681.
Original Resistance: 1.3634.
Inner Sell Area: 1.3655.
Target Inner Area: 1.3623.
Inner Buy Area: 1.3591
Original Support: 1.3578.
Strong Support: 1.3565.
Breakout SELL Level: 1.3557.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3578 and 1.3634. The rate is accompanied by strong support at 1.3565 and by 1.3681 as strong resistance. If EUR/USD breaks out and closes below the 1.3557 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3689 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 1.3591 and at 1.3655, a SELL position. In this case both targets should be placed at the level of 1.3623.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 10, 2014

The GBP/USD pair failed to fixate above 1.6600 on January 24. Instead, a strong bearish impulse was initiated quickly pushing the pair towards 1.6250. Around 1.6250, previous multiple tops as well as a recent bottom were established. That's why a considerable support was provided there. On the 4H chart, a price zone of 1.6250 - 1.6200 corresponds to the backside of the upper limit of a broken bearish channel. Bullish pressure was expressed on retesting during last week. An inverted bullish Head and Shoulders pattern was expressed around 1.6220 probably aiming towards 1.6450-1.6500 "prominent resistance zone". This bullish view remains valid as long as 1.6220-1.6200 remains defended by the bulls. On the other hand, breakdown of 1.6200-1.6250 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially rendering the current bullish formation an "expanding wedge" reversal pattern.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 11, 2014

There is no economic news to be released in Eurozone today. But the US will release some economic data such as the US-NFIB Small Business Index, US-JOLTS Job Openings, US-Wholesale Inventories m/m, and US-Fed Chair Yellen Testifying, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3738.
Strong Resistance:1.3729.
Original Resistance: 1.3716.
Inner Sell Area: 1.3703.
Target Inner Area: 1.3670.
Inner Buy Area: 1.3637.
Original Support: 1.3624.
Strong Support: 1.3611.
Breakout SELL Level: 1.3602.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3624 and 1.3716. The rate is accompanied by strong support at 1.3611 and by 1.3729 as strong resistance. If EUR/USD breaks out and closes below the 1.3602 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3738 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 1.3637 and at 1.3703, a SELL position. In this case both targets should be placed at the level of 1.3670.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 11, 2014

The previous multiple tops as well as a recent bottom were established around 1.6250. That's why a considerable support was provided around this price level. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming towards a 1.6470-1.6500 "prominent resistance zone." A valid SELL position can be taken at retesting of 1.6500, initial targets are located at 1.6370, 1.6300 then 1.6240. SL should be located above 1.6560. Stabilization of 4H above the price zone of 1.6470-1.6500 opens the way directly towards 1.6600 as an initial target. On the other hand, breakdown of 1.6250-1.6200 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6140 initially.

Performed by Mohamed Samy, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 12, 2014

When the European market opens, there will be a release of Industrial Production m/m.The US will release the economic data such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Federal Budget Balance, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3700.
Strong Resistance:1.3692.
Original Resistance: 1.3679.
Inner Sell Area: 1.3666.
Target Inner Area: 1.3634.
Inner Buy Area: 1.3602.
Original Support: 1.3589.
Strong Support: 1.3576.
Breakout SELL Level: 1.3568.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3589 and 1.3679. The rate is accompanied by strong support at 1.3576 and by 1.3692 as strong resistance. If EUR/USD breaks out and closes below the 1.3568 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3700 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 1.3602 and at 1.3666, a SELL position. In this case both targets should be placed at the level of 1.3634.

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