Technical analysis on EU,GU and majors

[bhanu545]

Technical analysis of EUR/USD for February 26, 2014

When the European market opens, some economic news will be released such as GfK German Consumer Climate, German 30-y Bond Auction.The US will release the economic data too such as the US-New Home Sales, US-Crude Oil Inventories, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3800.
Strong Resistance:1.3791.
Original Resistance: 1.3778.
Inner Sell Area: 1.3765.
Target Inner Area: 1.3732.
Inner Buy Area: 1.3699.
Original Support: 1.3686.
Strong Support: 1.3673.
Breakout SELL Level: 1.3664.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3686 and 1.3778. The rate is accompanied by strong support at 1.3673 and by 1.3791 as strong resistance. If EUR/USD breaks out and closes below the 1.3664 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3800 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 1.3699 and at 1.3765, a SELL position. In this case both targets should be placed at the level of 1.3732.

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

 

[bhanu545]

Technical analysis of GBP/USD for February 26, 2014

Trading recommendations:
According to the previous events, the GBP/USD pair is going to move between the level of 1.6635 and 1.6717. The resistance is set at the level of 1.6754. Consequently, the market will indicate a bearish opportunity below 1.6760, because the level of 1.6754 is going to act as strong resistance February 26, 2014. Accordingly, it will be a good sign to sell below this level today with the first target of 1.6680 in order to test the weekly pivot point in H1 chart. Moreover, if the trend succeeds to close below 1.6680, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6544. But the stop loss should be placed above 1.6760 at the price of 1.6785.
Intraday technical levels:
Projected high:1.6896
Breakout (buy stop):1.6841
Strong resistance (sell limit):1.6811
Current pivot:1.6684
Strong support (buy limit):1.6556
Breakout (sell stop):1.6531
Projected low:1.6481

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

 

[bhanu545]

Technical analysis of EUR/USD for February 27, 2014

Technical outlook and chart setups:
1. The EUR/USD pair has finally tested and reversed from 1.3770/80 levels. The multi month trend line support has also been broken and tested, as seen here. It is recommended to initiate short positions now (1.3650), and also add further on rallies.
2. Immediate resistance is 1.3800, followed by 1.3890, while supports are spread through 1.3500, followed by 1.3300 and 1.3200 respectively.
3. The structure reveals that the pair might have formed a major top at 1.3890 and subsequently a lower top at 1.3780/90. The minimum implications from here is into 1.3500's and then 1.3000's.
Trading recommendations:
Initiate short positions now, stop is at 1.3850, target is open.

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

 

[bhanu545]

Technical analysis of GBP/USD for February 27, 2014

Technical outlook and chart setups:
1. The GBP/USD has backed off the 2014 highs at 1.6800 levels for now. As seen here, the� support line remains intact and prices are still in the buy zone. It is recommended to remain flat for now, and get further clarification.
2. Immediate support is at 1.6250, followed by 1.5850, 1.5420 and lower, while resistance is at 1.6800 respectively.
3. The structure reveals that till the pair remains in buy zone of the trend line, bulls are in control and would want to drag prices higher than 1.6800. On the other hand, a break of trend line support and subsequently 1.6250, would be bearish. Trading recommendations: Flat for now.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for February 28, 20

Successive ascending bottoms are being established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion. The pair failed to reach this price level on the previous attempt that took place on December 2013. As long as the bulls are defending the recent bottom at 1.3630, the EUR/USD pair remains bullish on the intermediate prospective. On the other hand, breakdown of 1.3600-1.3630 invalidates the bullish scenario which is least likely to occur based on the given analysis.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for February 28, 20

The bulls were concentrated around 1.6600 considering it as an ideal reversal point. Stabilization of 1.6600 protected the pair from further decline. This led to a sideway consolidative phase before the ongoing bullish breakout took place Yesterday. As expected, breakthrough above 1.6666 opened the way towards 1.6740 corresponding to 61.8% Fibonacci of the recent bearish swing depicted on the 4H chart. Breakthrough above 1.6740 is a must to bring bulls back to push towards 1.6820 again. On the other hand, stabilization below which traps the pair between it and the backside of the broken channel around 1.6650 (Recent Demand Level).

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for March 3, 2014

Successive ascending bottoms are being established on the daily chart. This means the uptrend line established on September 2013 is still intact. The ongoing bullish impulse is probably targeting at 1.3900 corresponding to 100% Fibonacci Expansion. The pair failed to reach this price level on the previous attempt that took place on December 2013. As long as the bulls are defending the recent bottom at 1.3630, the EUR/USD pair remains bullish on the intermediate prospective. On the other hand, breakdown of 1.3600-1.3630 invalidates the bullish scenario which is least likely to occur based on the fundamental statement given by Mario Draghi which is quite optimistic about the European situation and its limited relation to the crisis of the Ukrainian economy.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for March 3-7, 2014

Forecast:
According to the previous events, the price of GBP/USD pair has still been trapped between 1.6768 and 1.6697. The level of 1.6768 is representing the double top and the weekly pivot point is set at 1.6697. Buy above 1.6700 in the short term with the first target of 1.6768, it might resume to 1.6810 if the trend will be able to break the double top at 1.6768.
General overview about the pivot points:
R3 and S3 are considered to be clear indicators of the maximum range of extreme volatility, though it is possible to pass them through. Pivot lines work well on sideways markets, as the prices are most likely to be located between the R1 and S1 lines. Within a strong trend, the price is expected to be lower than the pivot point line and continue the movement. If the breaking news released affects the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.
Observations:
If the trend is upward, then the strength of the currency will be defined as following:
USD is in an uptrend and CHF is in a downtrend. Fibonacci retracement is used to determine accurate psychological levels of support and resistance. The period of time should be taken into account. Fibonacci is in a range trade; it looks like the trend is trapping and going up or down. If you sell or buy in the long term in this period, you will surely lose your profit. Stop loss should NEVER exceed your maximum exposure amounts. As a rule, the market is highly volatile if the last day had huge volatility.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 04, 2014

When the European market opens, some economic news will be released such as Spanish Unemployment Change, PPI m/m. The US will release the economic data too such as the US-IBD/TIPP Economic Optimism, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3801.
Strong Resistance:1.3792.
Original Resistance: 1.3779.
Inner Sell Area: 1.3766.
Target Inner Area: 1.3733.
Inner Buy Area: 1.3700.
Original Support: 1.3687.
Strong Support: 1.3674.
Breakout SELL Level: 1.3665.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3687 and 1.3779. The rate is accompanied by strong support at 1.3674 and by 1.3792 as strong resistance. If EUR/USD breaks out and closes below the 1.3665 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3801 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 1.3700 and at 1.3766, a SELL position. In this case both targets should be placed at the level of 1.3733.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 4, 2014

The bulls were concentrated around 1.6600 considering it as an ideal reversal point. Stabilization of 1.6600 protected the pair from further decline. This led to a sideway consolidative phase before the ongoing bullish breakout took place last week. As expected, breakthrough above 1.6666 opened the way towards 1.6740 corresponding to 61.8% Fibonacci of the recent bearish swing depicted on the 4H chart. Breakthrough above 1.6740 (61.8% Fibonacci) is a must to bring bulls back to push towards 1.6820 again. On the other hand, stabilization below which traps the pair between it and the backside of the broken channel around 1.6650 (Recent Demand Level) which may lead to a sideway consolidative phase until new fundamental data gets into the market.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 05, 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, Revised GDP q/q. The US will release the economic data too such as the US-ADP Non-Farm Employment Change, US-Final Services PMI, US-ISM Non-Manufacturing PMI, Crude Oil Inventories, US-Beige Book, so amid the reports, EUR/USD will move with 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]

Technical analysis of GBP/USD for March 5, 2014

Overview: The GBP/USD pair probably will form strong support at the level of 1.6625 (above 23.6% of Fibonacci retracement levels. Moreover, it will also form sturdy resistance at the 1.6730 level in the H1 chart. So, the range of the GBP/USD pair will be about 103 pips today. Equally important, the price is going to form tripple bottom at 1.6625 (the last bearish wave for the last week). Furthermore, the saturation is likely to take place around this spot, since this level also formed the strong support on February 24, 2014. Consequently, it is possible that the market will start showing bullish signs. Buy deals are recommended above 1.6625 with the first target seen at the level of 1.6697 (this level is representing the weekly pivot point for March 4-7, 2014). Additionally, the price is going to continue towards 1.6728 after breaking the weekly pivot point. Thereupon, it also should be noted that the level of 1.6730 will represent strong resistance today at the price of 1.6728 (78.6% of Fibonacci retracement levels).

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

 

[bhanu545]

Technical analysis of EUR/USD for March 6, 2014

Overview: The daily pivot point of the EUR/USD pair will set at the level of 1.3730. Also, the weekly pivot point set at the 1.3756 price for March 3-7, 2014. Consequently, the market has still been calling for downward because the price has set below the weekly pivot point at 1.3756 since yesterday. Accordingly, if the trend fails to close above the level of 1.3760, then it will be a good opportunity to sell below 1.3756 with the first target at 1.3688 (this level is going to represent the weekly support 1), then it will be continued in downtrend towards 1.3643 in order to test the double bottom on March 6, 2014. On the other hand, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. Consequently, the best location to set your stop loss should be placed above the level of 1.3794 (the daily resistance 3).
Intraday technical levels:
Date and Time: 6/03/2014 10:35
Pair: EUR/USD
R3: 1.3794
R2: 1.3771
R1: 1.3753
PP: 1.3730
S1: 1.3712
S2: 1.3689
S3: 1.3671

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 6, 2014

The bulls concentrated on price level of 1.6600 considering it as an ideal reversal point. Stabilization of 1.6600 protected the pair from further decline. This led to a sideway consolidative phase before the ongoing bullish breakout took place last week. As expected, breakthrough above 1.6666 opened the way towards 1.6740 corresponding to 61.8% Fibonacci of the recent bearish swing depicted on the 4H chart. Breakthrough above 1.6740 (61.8% Fibonacci) is a must to bring bulls back to push towards 1.6820 again. On the other hand, stabilization below which traps the pair between it and the backside of the broken channel around 1.6650 (Recent Demand Level) which may lead to a sideway consolidative phase until new fundamental data gets into the market. A double-top may be established around 1.6750-1.6770 which needs breakdown of the neck-line around 1.6575. Projection target is located roughly at 1.6400.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 07, 2014

Today EUR/USD has support and resistance at 1.3815 and 1.3907. The rate is accompanied by strong support at 1.3802 and by 1.3902 as strong resistance. If EUR/USD breaks out and closes below the 1.3793 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3929 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 1.3828 and at 1.3894, a SELL position. In this case both targets should be placed at the level of 1.3861.

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

 

[bhanu545]

Technical analysis of GBP/USD for March 7, 2014

According to the preceding events, the GBP/USD pair is going to move between 1.6795 and 1.6730. Sell at the level of 1.6810 with the first target at the 1.6768 price in order to test the minor support, then it will call for downwards pressure in order to continue its bearish movement towards 1.6700 in order to test this strong support (the price of 1.6697 is going to represent the weekly pivot point of the GBP/USD pair on March 7, 2014). At the same time, the stop loss should be placed at the level of 1.6825. On the contrary, if the trend fails to close below the level of 1.6690. Therefore, it will very advantageous, but above the 1.6690 price with target at 1.6730, then at the price of 1.6805.

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

 

[sanjusharmaDHP]

The GBPUSD pair is diving hard today. The pair has breached an important support at around the 1.6680 level. The 1.6620 is the next swing level. It think the pair might find buyers around this area. Let's see what happens in the short term. I am looking to buy for sure.

 

[bhanu545]

Technical analysis of EUR/USD for March 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, Eurogroup Meetings results.Today, the US will not release any economic data, so amid the reports, EUR/USD will have low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3944.
Strong Resistance:1.3935.
Original Resistance: 1.3922.
Inner Sell Area: 1.3909.
Target Inner Area: 1.3876.
Inner Buy Area: 1.3843.
Original Support: 1.3830.
Strong Support: 1.3817.
Breakout SELL Level: 1.3808.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3830 and 1.3922 correspondingly. The rate is accompanied by strong support at 1.3817 and by 1.3935 as the strong resistance level. If EUR/USD breaks out and closes below the 1.3808 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3944 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 levels of 1.3843 and at 1.3909, a SELL position. In this case both targets should be placed at the level of 1.3876.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 10, 2014

On Friday, after the GBP/USD pair breached 1.6785, it expressed a Shooting Star daily candlestick indicating strength of the bearish momentum on these levels. From the fundamental prospective of view, the U.S. employment improved by 175 thousand during February. This contributed to the recent decline in the pound sterling against USD below the level of 1.6680. As depicted on the chart, the next demand level is located around 50% Fibonacci at 1.6540. As long as 1.6820 remains the highest level for the month, price level of 1.6540 remains targeted by the bears in order to gather enough bullish momentum to push higher again. Another scenario is that a Double Top pattern is being established with neckline located around 1.6600-1.6580. Daily fixation below this neckline will enable the pair to reach 1.6400 as a projection target.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for March 11, 2014

Successive ascending bottoms were established on the daily chart. This means the uptrend line established on September 2013 is still intact. As expected, the ongoing bullish impulse succeeded in hitting price level of 1.3900 on Friday. This level corresponds to 100% Fibonacci Expansion. According to the fundamental point of view, ECB's President Mario Draghi stated that the fundamental data indicates a continuous improvement in the economy. This contributed to the recent bullish jump that took place on Friday despite positive employment news for USD. That's why, Friday's candlestick ended up with a long upper tail representing bearish rejection at the end of the day. In the 4H chart, the pair failed to keep its earlier gains after the release of the U.S. employment change which recorded 175,000. It is worth mentioning that the closure of the pair below 1.3820 level will reduce the probability of pursuing its ongoing strength, but the bears need to close below 1.3730 to end the bullish trend on the short-term prospective. Bullish momentum needs 4H closure above 1.3888 to remain strong for further bullish targets around 1.3950 initially. Technically, the price zone of 1.3630-1.3720 which is trapped between 50% and 61.8% Fibonacci levels, remains an important demand zone for the pair. Stop loss for the bullish scenario is located below 1.3700-1.3720.

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