Technical analysis on EU,GU and majors

[bhanu545]

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

On Friday, After the GBP/USD pair breached price level of 1.6785, the market 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. This is the next destination for the bears. 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 which is being tested today with some bullish rejection being expressed so far. Daily fixation below this neckline will enable the pair to reach 1.6400 as a projection target. Otherwise, another swing towards 1.6800 would be expected.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 12, 2014

When the European market opens, some economic news will be released such as French Final Non-Farm Payrolls q/q, Industrial Production m/m.The US will release the economic data too such as the US-Crude Oil Inventories, US-10-y Bond Auction, US-Treasury Sec Lew Speaks, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3923.
Strong Resistance:1.3914.
Original Resistance: 1.3901.
Inner Sell Area: 1.3888.
Target Inner Area: 1.3855.
Inner Buy Area: 1.3822.
Original Support: 1.3809.
Strong Support: 1.3796.
Breakout SELL Level: 1.3787.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3809 and 1.3901. The rate is accompanied by strong support at 1.3796 and by 1.3914 as strong resistance. If EUR/USD breaks out and closes below the 1.3787 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3923 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 1.3822 and a SELL position at 1.3888, . In this case both targets should be placed at the level of 1.3855.

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

 

[bhanu545]

Technical analysis of GBP/USD for March 12, 2014

Trading recommendations:
According to the previous events, the GBP/USD pair is still moving between 1.6640 and 1.6570. Sell at the level of 1.6640 with the first target at the 1.6625 price, then It will call for downtrend in order to continue its bearish movement towards 1.6590 in order to test this strong support (it should be noted that the price of 1.6583 is going to form a double bottom in H4 chart). Notwithstanding, the stop loss should be placed at the level of 1.6685. If the trend fails to close below the level of 1.6583, it will a good sign to buy at this level in the short term with targets at 1.6610, then it is going to continue towards the 1.6630 price today.
Intraday technical levels:
Date and Time: 12/03/2014 10:40
Pair: GBP/USD
R3: 1.6706
R2: 1.6679
R1: 1.6649
PP: 1.6622
S1: 1.6592
S2: 1.6565
S3: 1.6535

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

 

[bhanu545]

Technical analysis of GBP/USD for march 13, 2014

GBP/USD's downward movement from 1.6785 extended to as low as 1.6596. A deeper decline would be likely seen in a couple of days, and the target would be at the 1.6500 area. Resistance is at 1.6710, only a break above this level could trigger another rise to re-test the 1.6822 resistance level. In the daily chart, the pair broke the supported trend line, making lower lows and lower highs that raises a bearish view. In Asia, the pair is trading at the level of 1.6620. 1.6637-1.65808 is the current trading range. After an either side breakout, we will see further move. A move below 1.6543 rises more bearish views. INTRADAY VIEW- Buy above 1.6627 with targets at 1.6644, 1.6662, 1.6682, and 1.6741.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 13, 2014

When the European market opens, some economic news will be released such as French CPI m/m, ECB Monthly Bulletin.The US will release the economic data too such as the US-Core Retail Sales m/m, US-Retail Sales m/m, US-Unemployment Claims, US-Import Prices m/m, US-Business Inventories m/m, US-Natural Gas Storage, US-30-y Bond Auction, so amid the reports, EUR/USD will move with low to meium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3969.
Strong Resistance:1.3960.
Original Resistance: 1.3947.
Inner Sell Area: 1.3934.
Target Inner Area: 1.3901.
Inner Buy Area: 1.3868.
Original Support: 1.3855.
Strong Support: 1.3842.
Breakout SELL Level: 1.3833.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3855 and 1.3947. The rate is accompanied by strong support at 1.3842 and by 1.3960 as strong resistance. If EUR/USD breaks out and closes below the 1.3833 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3969level, 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 1.3868 and at 1.3934, a SELL position. In this case both targets should be placed at the level of 1.3901.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for March 14, 2014

As expected, bullish momentum needed 4H closure above 1.3775 to remain strong for further bullish targets around 1.3980. Price level of 1.3980 corresponds to the upper limit of the depicted bullish channel. Hence, it's expected to provide considerable SELLING pressure at retesting. Technically, the price zone of 1.3775-1.3810 remains an important intraday demand zone for the pair. Price movement should be watched for a possible BUY entry. 4H breakdown below 1.3775 will probably invalidate the bullish scenario opening the way towards 1.3650 initially.

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

 

[bhanu545]

Technical analysis of GBP/USD for March 14, 2014

Overview: It should be noticed that the price of the GBP/USD pair has opened below the weekly support 1 at the level of 1.6650. Additionally, the market was in downtrend three days ago. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6650 in the short term. Also, the weekly support 1 will act as strong resistance on March 14, 2014 because support becomes resistance after breaking it. So, according to the previous events, the price has still been moving between the price of 1.6630 and the 1.6600 level. Thenceforward, the area below 1.6650 (below the weekly resistance 1) looks for further downside with the first target at the 1.6580 level in order to form to test the weekly resistance 2 and continue towards 1.6567 to test the double bottom in H1 chart. However, the stop loss should be placed at the price of 1.6713.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 17, 2014

When the European market opens, some economic news will be released such as CPI y/y, Core CPI y/y, German Buba Monthly Report. The US will release the economic data too such as the US-Empire State Manufacturing Index, US-TIC Long-Term Purchases, US-Capacity Utilization Rate, US-Industrial Production m/m, US-NAHB Housing Market Index, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3975.
Strong Resistance:1.3966.
Original Resistance: 1.3953.
Inner Sell Area: 1.3940.
Target Inner Area: 1.3907.
Inner Buy Area: 1.3874.
Original Support: 1.3861.
Strong Support: 1.3848.
Breakout SELL Level: 1.3839.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3861 and 1.3953. The rate is accompanied by strong support at 1.3848 and by 1.3966 as strong resistance. If EUR/USD breaks out and closes below the 1.3839 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3975 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 1.3874 and at 1.3940, a SELL position. In this case both targets should be placed at the level of 1.3907.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for March 17-21, 2014

Observations:
If the trend is of an upside character, then the strength of the currency will be defined as following: GBP is an uptrend and USD is 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 for a 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 a huge volatility.
Technical Levels:
Projected high: 1.6895
Strong resistance (sell limit): 1.6975
Current pivot: 1.6654
Strong support (buy limit): 1.6395
Projected low: 1.6410

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

 

[bhanu545]

Technical analysis of EUR/USD for March 18, 2014

When the European market opens, some economic news will be released such as German WPI m/m, Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment, Trade Balance.The US will release the economic data too such as the US-Building Permits, US-Core CPI m/m, US-CPI m/m, US-Housing Starts, US-TIC Long-Term Purchases, so amid the reports, EUR/USD will move with low to medium volatility during this day.

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3993.
Strong Resistance:1.3984.
Original Resistance: 1.3971.
Inner Sell Area: 1.3958.
Target Inner Area: 1.3925.
Inner Buy Area: 1.3892.
Original Support: 1.3879.
Strong Support: 1.3866.
Breakout SELL Level: 1.3857.

DESCRIPTION:
Today EUR/USD has support and resistance at 1.3879 and 1.3971. The rate is accompanied by strong support at 1.3866 and by 1.3984 as strong resistance. If EUR/USD breaks out and closes below the 1.3857 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3993 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 1.3892 and at 1.3958, a SELL position. In this case both targets should be placed at the level of 1.3925.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 18, 2014

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, the price level of 1.6540 remains the target for the bears. Another scenario is that a Double Top pattern is being established with the neckline located around 1.6600-1.6580. Daily fixation below this neckline will enable the pair to reach 1.6350 as a projection target. During the past few days, the GBP/USD pair has been trapped within consolidation range established between 1.6580 and 1.6666. A breakout to the downside taking place today. Persistence of the current breakdown will push the pair down to 1.6460 where a prominent bottom was established on January 27.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 19, 2014

Overview: The market has opened below the daily resistance today. The resistance has already set at the level of 1.3970, a strong level, on March 19, 2014. Additionally, the double top is also coinciding with the same price (1.3970). Moreover, the EUR/USD pair reached the weekly pivot point yesterday and today the price is still around it. Hence, the trend was sideways and the range seemed extensive up to 75 pips. According to the previous events, the price of the EUR/USD pair has still been trapped between the level of 1.3880 and the 1.3950 level. Therefore, it will be advantageous to sell at the price of 1.3970 (the weekly resistance 1) with the first target at 1.3900 ( the level of 1.3901 is going to represent the weekly pivot point). It may resume to 1.3836 if the price is able to break 1.3901. Notwithstanding, stop loss should always be in account, accordingly, it will be of beneficial to set the stop loss above the weekly resistance 1 at the price of 1.3990.

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

 

[bhanu545]

Technical analysis of GBP/USD for March 19, 2014

Overview: The price of GBP/USD pair is going to turn to bullish sentiment from the level of 1.6566. Additionally, the price of 1.6566 is coinciding with the double bottom and the ratio of 00% Fibonacci retracement levels in H1 chart. Accordingly, it will a good sign to buy above 1.6566 with the first target of 1.6651 to test a minor resistance at this price and it should be noted that the price of 1.6651 is representing the weekly pivot point for March 19-21, 2014. Also, it will call for uptrend in order to continue its bullish movement towards 1.6736. Equally important, the resistance will set at the 1.6736 level. So, it will very useful to take profit at this spot. At the same time, the stop loss should be placed below the double bottom at the price of 1.6623. Futhermore, it should be noted that the range today will be about 83 pips. Another thought, the stop loss has set in 50 pips. Consequently, the risk of 50 pips should make a profit of 75 pips.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 20, 2014

When the European market opens, some economic news will be released such as German PPI m/m, EU Economic Summit. The US will release the economic data too such as the US-Unemployment Claims, US-Existing Home Sales, US-Philly Fed Manufacturing Index, US-CB Leading Index m/m, US-Natural Gas Storage, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3886.
Strong Resistance:1.3877.
Original Resistance: 1.3864.
Inner Sell Area: 1.3851.
Target Inner Area: 1.3818.
Inner Buy Area: 1.3785.
Original Support: 1.3772.
Strong Support: 1.3759.
Breakout SELL Level: 1.3750.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3772 and 1.3864. The rate is accompanied by strong support at 1.3759 and by 1.3877 as strong resistance. If EUR/USD breaks out and closes below the 1.3750 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3886 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 1.3785 and at 1.3851, a SELL position. In this case both targets should be placed at the level of 1.3818.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 20, 2014

Successive ascending bottoms were established on the daily chart. This means the uptrend line established in September 2013 is still intact. Price level of 1.3900 corresponding to 100% Fibonacci Expansion has been successfully hit a few days ago. After topping at 1.3965, the EUR/USD pair showed indecision that continued for a few days. This was manifested in the previous few daily candlesticks. Re-fixation below 1.3900 brought the pair directly towards 1.3840 which got broken too. The pair is currently heading towards price zone of 1.3700-1.3650 as long as the current resistance level of 1.3820 remains defended by the bears. The market may offer a valid BUY entry at retesting of the uptrend line that corresponds also to a prominent demand zone 1.3700-1.3650. SL should be located below 1.3600.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for March 21, 2014

Daily Fixation below 1.3850 gathered significant bearish pressure enough to breakdown the lower limit of the daily bullish channel. Today, there is a minor reversal expressed at 1.3750 of the recent slide from 1.3965. Four-Hour candlestick fixation above 1.3790 signals a temporary bottom that will target at 1.3850. Price Level 1.3850-1.3870 remains a significant supply zone (neckline of the 4H reversal pattern). It will probably provide a valid SELL entry at retesting. Stop Loss should be located above 1.3900. On the other hand, failure to fixate above 1.3790 will expose the recent low 1.3748. A slide below which opens the way towards lower lows located at 1.3700 and 1.3660.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for March 21, 2014

Reversal Double-Top pattern was expressed at 1.6800 which led to the current bearish swing down to 1.6470. Breakdown of 1.6530 (50% Fibonacci level) which took place Yesterday exposed 1.6470 (61.8% Fibonacci) immediately. Mild bullish pull-back is taking place at 1.6470. Price level 1.6535 remains the nearest Intraday resistance for the pair. On the other hand, price level of 1.6575 is a KEY-RESISTANCE for the pair. Any further visits will probably offer a valid SELL entry with stop-loss located just above 1.6600. On the long-term prospective, projection target of the bearish pattern located 1.6380 remains in focus as long as fixation below 50% Fibonacci level remains in place.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 24, 2014

When the European market opens, some economic news will be released such as French Flash Manufacturing PMI, French Flash Services PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Services PMI, Belgian NBB Business Climate. The US will release the economic data too such as the US-Flash Manufacturing PMI, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3863.
Strong Resistance:1.3854.
Original Resistance: 1.3841.
Inner Sell Area: 1.3828.
Target Inner Area: 1.3795.
Inner Buy Area: 1.3762.
Original Support: 1.3749.
Strong Support: 1.3736.
Breakout SELL Level: 1.3727.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3749 and 1.3841. The rate is accompanied by strong support at 1.3736 and by 1.3854 as strong resistance. If EUR/USD breaks out and closes below the 1.3727 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3863 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 1.3762 and at 1.3828, a SELL position. In this case both targets should be placed at the level of 1.3795.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for March 24-28, 2014

Trading recommendations: As it is known, sellers are asking for a high price as well as buyers are bidding at a lower price. Therefore, the first key level will set at the level of 1.6610 and the second key level will set at the 1.6420 level for March 24-28, 2014. Moreover, it should be noted that the level of 1.6610 is representing the resistance and the 1.6420 level is going to act as the support in H1 chart. Equally important, the price of the GBP/USD pair has still been moving between 1.6460 and 1.6542. Additionally, it should be noted that the range was about 190 pips last week. Furthermore, the trend was very clear and indicating downtrend. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6610 or 1.6542 (the weekly pivot point). As a result, sell at the price of 1.6542 with the first target of 1.6475, it might resume to 1.6420 in order to test the weekly support 1. On the other hand, your stop loss should be placed above the 1.6610 level, hence it will helpful to set it at the price of 1.6680 this week.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 25, 2014

When the European market opens, some economic news will be released such as German Ifo Business Climate.The US will release the economic data too such as the US-S&P/CS Composite-20 HPI y/y, US-HPI m/m, US-CB Consumer Confidence, US-New Home Sales, US-Richmond Manufacturing Index, so amid the reports, EUR/USD will move with low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3904.
Strong Resistance:1.3895.
Original Resistance: 1.3882.
Inner Sell Area: 1.3869.
Target Inner Area: 1.3836.
Inner Buy Area: 1.3803.
Original Support: 1.3790.
Strong Support: 1.3777.
Breakout SELL Level: 1.3768.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3790 and 1.3882. The rate is accompanied by strong support at 1.3777 and by 1.3895 as strong resistance. If EUR/USD breaks out and closes below the 1.3768 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3904 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 1.3803 and at 1.3869, a SELL position. In this case both targets should be placed at the level of 1.3836.

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