Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 12, 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 at a 1.6470-1.6500 "previous prominent resistance zone". Four-hour breakthrough above the price zone of 1.6470-1.6500 opened the way directly towards 1.6580 rendering price zone of 1.6600-1.6630 as a coming target zone. Previous congestion/consolidation zone is located around 1.6550-1.6590. Selling pressure may be applied at retesting which is taking place today. However, breakthrough above this zone will allow further bullish momentum to be gathered. On the other hand, refixation again below 1.6470 on a daily basis turns the ongoing bullish bias into a bearish one targeting at 1.6370 then at 1.6250 as well.

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

 

[bhanu545]

Technical analysis of EUR/USD for February 13, 2014

When the European market opens, some economic news will be released such as ECB Monthly Bulletin, German Final CPI m/m.The US will release the economic data too such as the US-30-y Bond Auction, US-Natural Gas Storage, US-Business Inventories m/m, US-Business Inventories m/m, US-Unemployment Claims, US-Retail Sales m/m, US-Core Retail Sales m/m, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3662.
Strong Resistance:1.3654.
Original Resistance: 1.3641.
Inner Sell Area: 1.3628.
Target Inner Area: 1.3596.
Inner Buy Area: 1.3564.
Original Support: 1.3551.
Strong Support: 1.3538.
Breakout SELL Level: 1.3530.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3551 and 1.3641. The rate is accompanied by strong support at 1.3538 and by 1.3654 as strong resistance. If EUR/USD breaks out and closes below the 1.3530 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3662 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 1.3564 and at 1.3628, a SELL position. In this case both targets should be placed at the level of 1.3596.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 13, 2014

A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom established around 1.6250. The 4H chart reveals an inverted bullish Head and Shoulders pattern which was expressed around 1.6220 aiming at a 1.6470-1.6500 "previous prominent resistance zone". Four-hour breakthrough above the price zone of 1.6470-1.6500 opened the way directly towards 1.6580 rendering price zone of 1.6630-1.6660 as a coming target zone. On the 4H chart, current bearish pressure/rejection is being applied at 1.6660 pushing the pair down to price level of 1.6620 which is providing Intraday support until now. On the other hand, re-fixation again below 1.6630 turns the ongoing bullish bias into a bearish one targeting at 1.6470 then at 1.6350 as well.

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

 

[ajpipsmaker]

GU teaching bears a lesson

 

[bhanu545]

Technical analysis of EUR/USD for February 14, 2014

When the European market opens, some economic news will be released such as French Prelim GDP q/q, German Prelim GDP q/q, French Prelim Non-Farm Payrolls q/q, Italian Prelim GDP q/q, Flash GDP q/q, Trade Balance. The US will release the economic data too such as the US-Import Prices m/m, US-Capacity Utilization Rate, US-Industrial Production m/m, US-Prelim UoM Consumer Sentiment, US-Prelim UoM Inflation Expectations, so amid the reports, EUR/USD will move with medium volatility during this day. TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3747.
Strong Resistance:1.3738.
Original Resistance: 1.3725.
Inner Sell Area: 1.3712.
Target Inner Area: 1.3679.
Inner Buy Area: 1.3646.
Original Support: 1.3633.
Strong Support: 1.3620.
Breakout SELL Level: 1.3611.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3633 and 1.3725. The rate is accompanied by strong support at 1.3620 and by 1.3738 as strong resistance. If EUR/USD breaks out and closes below the 1.3611 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3747 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 1.3646 and at 1.3712, a SELL position. In this case both targets should be placed at the level of 1.3679.

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

 

[bhanu545]

Daily analysis of GBP/USD for February 14, 2014

H1 chart: This pair isconsolidating above the point of control at the level of 1.6629, soit is very likely that this pair rise to the resistance level of1.6700. If the pair manages to break that level, it is expected torise to the level of 1.6750. Moreover, if this pair does break thesupport level of 1.6629, it is expected to fall to the level of1.6578. The MACD indicator is in negative territory.

Trading recommendations for today: Based on the H1 chart,place buy (long) orders only if the GBP/USD pair breaks a bullishcandlestick; the resistance level is at 1.6700, take profit is at1.6750, and stop loss is at 1.6650.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for February 17

On the daily chart we can see that the bulls found enough demand around 1.3570 to push again towards 1.3680-1.3700 for another retesting. A prominent top was established around the same price zone on January 24. This renders this price zone as a considerable supply for the pair. Initial bearish target for this possible bearish rejection is located near 1.3530 (previously established bottom). On the other hand, a possible inverted Head and Shoulders may be confirmed if the bulls manage to push above 1.3700 (neckline) aiming at 1.3900 corresponding to 100% Fibonacci expansion of the previous bullish swing. In the short-term, temporary rejection may be expressed to retest 1.3500 as long as 1.3700 remains defended by the bulls.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 17, 2014

The GBP/USD pair established a recent demand level around the price level of 1.6250 where a prominent bottom was established on February 5. A strong bullish impulse was expressed shortly after opening the way towards 1.6575 then 1.6666. Both resistance levels have been broken through. Recently, the bulls failed to fix above 1.6800 which is manifested in the current daily candlestick. As long as the bulls are defending price level of 1.6666, the pair remains bullish in the long-term. However, it's expected to have some bearish momentum to push towards 1.6575. It's important to watch 4H chart for a closer view of price action towards 1.6666. Four-hour closure below this level opens the way for the bears to gather enough momentum towards 1.6575. On the other hand, bullish rejection may be expressed due to positive fundamental releases from the UK.

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

 

[bhanu545]

EUR/USD Intraday Technical Level For Feb18th / 2014

When the European market opens, some economic news will be released such as Current Account, Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment, ECOFIN Meetings.The US will release the economic data too such as the US-Empire State Manufacturing Index, US-TIC Long-Term Purchases, US-NAHB Housing Market Index, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3769.
Strong Resistance:1.3760.
Original Resistance: 1.3747.
Inner Sell Area: 1.3734.
Target Inner Area: 1.3701.
Inner Buy Area: 1.3668.
Original Support: 1.3655.
Strong Support: 1.3642.
Breakout SELL Level: 1.3633.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3655 and 1.3747. The rate is accompanied by strong support at 1.3642 and by 1.3760 as strong resistance. If EUR/USD breaks out and closes below the 1.3633 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3769 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 1.3668 and at 1.3734, a SELL position. In this case both targets should be placed at the level of 1.3701.

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

 

[bhanu545]

Daily analysis of GBP/USD for February 18, 2014

H1 chart: This pairfound support at the level of 1.6700 and formed a point ofcontrol there. If the pair manages to break the resistance level of 1.6750,it's expected to rise to the level of 1.6800. We think thecurrent trend of this pair as it is declining is onlycorrective movements in favor of the bullish bias. The MACD indicatoris oversold.

Trading recommendations for today:
Based on the H1 chart,place buy (long) orders only if the GBP/USD pair breaks a bullishcandlestick; the resistance level is at 1.6750, take profit is at1.6800, and stop loss is at 1.6700.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 19, 2014

In the hourly chart, EUR/USD is trading at 1.3760. RSI gives an overbought indication. Prices are holding above the 21 and 40 DEMA that is a bull factor.If the price breaks 1.3742, weakness persists in the intraday tradingsession towards downside. We can expect the selling pressureto start soon. R1 1.3813 R2 1.3820 Recommendation- 1- Sell below 1.3742 target 1.3720 and 1.3695. 2- If any rise happens, sell at 1.3813 and 1.3820.

If the price breaks 1.3695, next support comes at 1.3620 and 1.3585.

Performed by Joseph Wind, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of GBP/USD for February 19, 2014

Overview: It should be noted that the resistance (1.6773) and the support (1.6510) are considered to be clear indicators of the maximum range of extreme volatility on February 19, 2014, though it is possible to pass them through. Therefore, according to the previous events, the GBP/USD pair has still been trapped between 1.6750 and the weekly pivot point at the level of 1.6628. Also, it should note that the 1.6626 price will act as a minor support. Thence, probably the market is going to start showing the signs of bearish market below the price of 1.6773, because it represent a major resistance. In other words, it will be a good sign to sell below the resistance (1.6773) with the first target of 1.6628 in order to try break the weekly pivot point, then it will call for downtrend to continue its bearish movement towards 1.6501(the level of 1.6501 is represented a strong support for today).
Notes:
Resistance: 1.6773
Support: 1.6510
Range: 120 pips.

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

 

[bhanu545]

Technical analysis of EUR/USD for February 20, 2014

Intraday trading recommendations:
To identify the resistance or support levels, it should be used historic rates to determine future prices. Therefore, the level of 1.3760 will indicate strong resistance on February 20, 2014. Moreover, we expect that the level of 1.3772 is going to form double top at this spot in H1 chart. Furthermore, according to antecedent events, the EUR/USD pair has still been moving between 1.3755 and 1.3690. Consequently, it will be of the foresight to sell at the spot of 1.3750 or 1.3772 with the first target at 1.3660 (the weekly pivot point) for today. Otherwise, the stop loss should be placed above the level of 1.3800. Thereupon, it will be very useful if you set your stop loss at the 1.3825 price.

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

 

[bhanu545]

Daily analysis of GBP/USD for February 20, 2014

H1 chart: This pairfound resistance near the 1.6730 level and now, the GBP/USD is tryingto consolidate below the resistance level of 1.6700. However, if thispair makes a breakout at that level would be expected to rise to thelevel of 1.6750. On the other hand, it is very likely that this pair will fall to the support level of 1.6629, as this pair has failed toconsolidate above the 1.6700 level. The MACD indicator is enteringnegative territory.

Trading recommendations for today:
Based on the H1 chart,place buy (long) orders only if the GBP/USD pair breaks a bullishcandlestick; the resistance level is at 1.6700, take profit is at1.6750, and stop loss is at 1.6650.

Performed by Felipe Erazo, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Technical analysis of EUR/USD for February 21, 2014

When the European market opens, there is no economic data news to be released today.The US will release the economic data as the US-Existing Home Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day because this is the Third Friday in this month means many options will be expired.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3785.
Strong Resistance:1.3776.
Original Resistance: 1.3763.
Inner Sell Area: 1.3750.
Target Inner Area: 1.3717.
Inner Buy Area: 1.3684.
Original Support: 1.3671.
Strong Support: 1.3658.
Breakout SELL Level: 1.3649.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3671 and 1.3763. The rate is accompanied by strong support at 1.3658 and by 1.3776 as strong resistance. If EUR/USD breaks out and closes below the 1.3649 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3785 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 1.3684 and at 1.3750, a SELL position. In this case both targets should be placed at the level of 1.3717.

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

 

[bhanu545]

Technical analysis of GBP/USD for February 21, 2014

Overview: It should be noted that the price of the GBP/USD pair was not stable because the trend has been moving between 1.6630 and 1.6710 since February 17, 2014. Accordingly, it is of the wisdom to be careful in this area. So, the first step is waiting in this spot before investing. As a result, it will probably be that the GBP/USD pair is going to start showing the signs of bullish market at the level of 1.6555. In other words, it will be a good sign to buy above the price of 1.6555 with the first target of 1.6628 in order to test the weekly pivot point and it will call for uptrend to continue its bullish movement towards 1.6822 for forming double top in H1 chart. However, If the pair could not break 1.6822. Consequently, the market will indicate a bearish opportunity at the spot of 1.6830. Thus, the level will be acted as strong resistance on February 21, 2014. for that, it is providing a clear signal for sell deals with the target seen at 1.6766. On the other hand, the stop loss should be placed above 1.6873.

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

 

[bhanu545]

Technical analysis of EUR/USD for February 24, 2014

When the European market opens, some economic news will be released such as the German Ifo Business Climate, CPI y/y, Core CPI y/y, Belgian NBB Business Climate.The US will release the US-Flash Services PMI, so amid the reports, EUR/USD will move with low to medium volatility during this day. TODAY's TECHNICAL LEVELS: Breakout BUY Level: 1.3807. Strong Resistance:1.3798. Original Resistance: 1.3785. Inner Sell Area: 1.3772. Target Inner Area: 1.3739. Inner Buy Area: 1.3706. Original Support: 1.3693. Strong Support: 1.3680. Breakout SELL Level: 1.3671. DESCRIPTION: Today EUR/USD has support and resistance at 1.3693 and 1.3785. The rate is accompanied by strong support at 1.3680 and by 1.3798 as strong resistance. If EUR/USD breaks out and closes below the 1.3671 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3807 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 1.3772, a SELL position. In this case both targets should be placed at the level of 1.3739.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for February 24, 2014

A considerable support was provided around 1.6250. This price level corresponds to the previous multiple tops as well as recent bottom. A breakthrough above the price zone of 1.6590-1.6660 opened the way directly towards the upper limit of the depicted channel around 1.6820 where the bulls established a recent top around. As expected, a bearish impulse towards 1.6590-1.6660 took place. Around this price level, there are two previous tops established at January 2 and 29 respectively. This renders 1.6590 a considerable support for the pair. Temporary bullish rejection was recently expressed leading towards 1.6666 where the pair topped at January 24. The pair is roughly trapped between 1.6666 and 1.6590. Breakout in either direction will allow enough momentum to be gathered in the same direction of breakout. Breakdown of 1.6590 clears the way towards a more prominent support around 1.6530 ( Fibonacci 50% of the swing 1.6250-1.6820) and probably 1.6470 (Fibonacci 61.8% of the same swing). Price action should be watched at retesting of price zone of 1.6590-1.6470. A valid BUY entry may be offered with SL as 4H closure below 1.6540.

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

 

[bhanu545]

Technical analysis of EUR/USD for February 25, 2014

Overview: As it is known, we use historic prices to determine future prices. Thereupon, according to antecedent events, the price of EUR/USD pair has still been moving between the ratio of 100% Fibonacci retracement levels at the level of 1.3772 and 23.6% Fibonacci retracement at the 1.3706 level. In particular, the EUR/USD pair will be able to form double top at 1.3772 on February 25, 2014. Therefore, it will be good to short selling below the price of 1.3770 with the first target of 1.3732 in order to test the weekly pivot point. Additionally, if the trend will be able to break the weekly pivot point, then it might resume to 1.3691 (it should be noted that the level of 1.3691 is going to represent the weekly support 1). The stop loss should be set above the price of 1.3793. Notwithstanding, check out the market volatility before investing, because the sight price may have already been reached and scenarios become invalidate.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for February 25

Stabilization of 1.6600 protected the pair from further decline, with sideway consolidative phase seen preceding a possible attempt to push higher. Daily bulls were concentrated around 1.6600 considering it as an ideal reversal point. The bears failed to breakdown this demand level resulting in a bullish engulfing 4H candlestick that's pushing again towards 1.6666. Breakthrough above 1.6666 opens the way towards 1.6720/40. Breakthrough above which, is a must to bring bulls back to push towards 1.6770-1.6820 initially.

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