Technical analysis on EU,GU and majors

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Daily analysis of GBP/USD for March 25, 2014

H1 chart: This pair remains above the point of control at the level of 1.6480. However, this pair was strongly very close to the 1.6544 resistance level, so that the pair is maintained in a bearish outlook. If GBP/USD manages to make a breakout in the support level of 1.6464, it's expected to fall to the level of 1.6419. The MACD indicator is in neutral territory.

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.6464, take profit is at 1.6419, and stop loss is at 1.6510.

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

 

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Technical analysis of EUR/USD for March 26, 2014

When the European market opens, some economic news will be released such as GfK German Consumer Climate, Italian Retail Sales m/m, Italian Prelim CPI m/m. The US will release the economic data too such as the Core Durable Goods Orders m/m, Durable Goods Orders m/m, Flash Services PMI, Crude Oil Inventories, Bank Stress Test Results, 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: 1.3769.
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 1.3769 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]

Technical analysis of GBP/USD for March 26, 2014

Overview: The GBP/USD pair movement will be continued directly from the level of 1.6420 in H4 chart. Moreover, this level was confirmed by the bullish market two months ago. Additionally, the price of the GBP/USD pair has been showing an upward trend at the same price which represents the weekly resistance 1 on March 26, 2014. Therefore, the market will indicate the bullish opportunity at the level of 1.6420. Also, it should be noted that the weekly resistance 1 became the support. Accordingly, it will be a good sign to buy at 1.64820 (in the short term) with the first target of 1.6540 and further to 1.6610 in order to form double top in H1 chart.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 27, 2014

Trading recommendations: The EUR/USD pair is in the short term. The price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3830. Also, it should be noted that the level of 1.3830 is representing the weekly pivot point on March 27, 2014. Accordingly, it will be a good sign to sell below 1.3830 with the first target of 1.3750 to test the double bottom at this price. Then, it will call for downtrend in order to continue its bearish movement towards 1.3711 (the weekly support 1). At the same time, the stop loss should be placed above the weekly pivot point at the price of 1.3774. Equally important, the support will set at the 1.3870 level.

Intraday technical levels:
R3: 1.3866
R2: 1.3847
R1: 1.3815
PP: 1.3796
S1: 1.3764
S2: 1.3745
S3: 1.3713

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

 

[bhanu545]

Technical analysis of GBP/USD for March 27, 2014

Daily fixation below this price zone enabled the pair to reach 1.6464 as a projection target. The recently achieved low at 1.6465 prevented further decline. However, there is still no clear signals of bullish reversal. Four-hour fixation above 1.6690-1.6700 will probably signal weakness of the bears to pursue their uptrend exposing price level of 1.6775 for retesting. Now the price zone of 1.6650 will probably offer a valid SELL entry at retesting (50% Fibonacci of the latest bearish swing). Stop loss should be the four-hour closure above 1.6690. On the other hand, falle below 1.6555 will expose 1.6500 and 1.6470 immediately.

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

 

[bhanu545]

Technical analysis of EUR/USD (Weekly) for March 28, 2014

Technical outlook and chart setups: 1. The EUR/USD weekly chart view has been presented here for the larger picture and it looks grim at the moment for bulls. The pair has reversed right from the resistance line extending through 2008, from 1.4960 levels last week. As seen here, prices have produced an evening star reversal bearish signal right at the trend line. It is recommended to initiate short positions now (1.3740), risk remains at 1.3960 for now. A huge trend reversal could be on cards. 2. Immediate resistance is at 1.3960, followed by 1.4200 and higher up, while immediate support is at1.3480, followed by 1.33 and lower respectively. 3. The wave structure indicates that if resistance at 1.3960 holds (which is highly probable looking into present setup), bears could possibly drag prices lower into 1.3's and 1.2's again.
Trading recommendations: Remain short, stop is at 1.3960, target is open. Good luck!

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

 

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

The previously mentioned reversal Double-Top pattern achieved its projection target near price level of 1.6470. The breakdown of 1.6530 (50% Fibonacci level) exposed 1.6470 (61.8% Fibonacci) shortly after. However, the price zone 1.6470-1.6530 (50% - 61.8% Fibonacci levels) provided considerable bullish pressure on the pair. The bullish pullback took place off 1.6470. The price zone of 1.6630-1.6670 remains the nearest Intraday resistance which comes to meet the upper limit of the ongoing bearish channel initiated on February 17. Any further visits will probably offer a valid SELL entry with stop-loss located just above 1.6700. On the other hand, daily fixation above 1.6680 will probably pause the ongoing bearish momentum applying some bullish pressure probably towards 1.6780-1.6800.

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

 

[bhanu545]

Technical analysis of EUR/USD for March 31, 2014

Technical outlook and chart setups:
1. The EUR/USD has resumed its retracement as was expected earlier. The drop from 1.3960 is impulsive and correction was due. Please note that this rally needs to be sold around 1.3850/60 levels. Recommendations for now is to remain flat and wait to sell higher.
2. Immediate resistance is seen at 1.3850, followed by 1.3960, while supports are spread through 1.3700/20, followed by 1.36 and lower respectively.
3. The structure indicates that EUR/USD should correct itself towards 1.3850 levels. Bears are expected to take back control from those levels. The expected downside extensions are 1.35 and 1.32.

Trading recommendations: Sell around 1.3850, stop is at 1.3970, target is open. Good luck!

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for March 31, 2014

A Double-Top pattern scenario was executed with the neckline located around the price zone of 1.6620-1.6660. Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target. The recent achieved low at 1.6465 prevented further decline. However, there is still no sure signals of long-term bullish reversal. Four-hour fixation above 1.6666-1.6690 will probably signal weakness of the bears to pursue their downtrend exposing price level of 1.6775 for retesting. On the other hand, price zone of 1.6666-1.6690 will probably offer a valid SELL entry. Stop Loss should be four-hour closure above 1.6700. A slide below 1.6595 ( previous top established on January 2) will probably expose 1.6500 and 1.6470.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 01, 2014

When the European market opens, some economic news will be released such as Spanish Manufacturing PMI, Italian Manufacturing PMI, German Unemployment Change, Final Manufacturing PMI, Italian Monthly Unemployment Rate, Unemployment Rate, ECOFIN Meetings.The US will release the economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, IBD/TIPP Economic Optimism, ISM Manufacturing Prices, otal 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: 1.3840.
Strong Resistance:1.3831.
Original Resistance: 1.3818.
Inner Sell Area: 1.3805.
Target Inner Area: 1.3772.
Inner Buy Area: 1.3739.
Original Support: 1.3726.
Strong Support: 1.3713.
Breakout SELL Level: 1.3704.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3726 and 1.3818. The rate is accompanied by strong support at 1.3713 and by 1.3831 as strong resistance. If EUR/USD breaks out and closes below the 1.3704 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3840 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 1.3739 and at 1.3805, a SELL position. In this case both targets should be placed at the level of 1.3772.

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

 

[bhanu545]

Analysis of GBP/USD for April 01, 2014

The cable moved higher after the Federal Reserve Head speech. Ms. Yellen said the U.S. economy and job market are still far from healthy condition, and still require plenty of support from the central banks low-interest-rate policy. The unemployment rate currently stands at 6.7%, well above the 5.2%-5.6% range that the Fed officials see as normal. Annual inflation is running just above 1%, well below the central banks official 2% target.
Traders eye today's manufacturing PMI data. The geopolitical tensions in Ukraine made an impact on manufacturing and new orders. In the other hand the domestic service and retail sector will show a good strength. The manufacturing output index has been in a down trend for the last 6 months. This time we can see a humble decline in March.
Technical view- Weekly basis
The pair has been continuing its 6-day winning steak. Due to the overbought conditions in the H4 chart, the pair didn't fly to higher levels. As of now, the pair is trading at the 1.666 levels. We can see the new targets immediately at 1.6718, and later at 1.6741 and 1.6786 (intraday) once the candle close above the 1.666 level in H4 chart. On the down side, support exists at 1.6620, 1.6589, and 1.6556 levels. RSI favors bears. Until the pair closes above the 1.666, sit on sell side is the best strategy.
S1 1.66 R1 1.666
(CB) S2 1.6589 R2 1.6718
S3 1.6556 R3 1.6741

Weekly trend will change once the candle will close above the level of 1.6718 (R2 and break down level) in the H4 chart. On the positional basis, if the pair come out of the trading range and gives a breakout above the level of 1.6741, we will see 1.6823 and 1.695 in coming trading days.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 02, 2014

When the European market opens, some economic news will be released such as Spanish Unemployment Change, Final GDP q/q, PPI m/m, ECOFIN Meetings.The US will release the economic data too such as the ADP Non-Farm Employment Change, Factory Orders m/m, Crude Oil Inventories, so amid the reports, EUR/USD will move with medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3859.
Strong Resistance:1.3850.
Original Resistance: 1.3837.
Inner Sell Area: 1.3824.
Target Inner Area: 1.3791.
Inner Buy Area: 1.3758.
Original Support: 1.3745.
Strong Support: 1.3732.
Breakout SELL Level: 1.3723.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3745 and 1.3837. The rate is accompanied by strong support at 1.3732 and by 1.3850 as strong resistance. If EUR/USD breaks out and closes below the 1.3723 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3859 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 1.3758 and at 1.3824, a SELL position. In this case both targets should be placed at the level of 1.3791.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 2, 2014

Trading recommendations:
According to the previous events, the GBP/USD pair has still been trapped between 1.6675 and 1.6610.
First outlook: Sell below 1.6705 (the weekly resistance 1) with the first target at the 1.6630 price, then It will call for downtrend in order to continue its bearish movement towards 1.6585 in order to test this strong support (it should be noted that the price of 1.6585 is going to form the weekly pivot point on April 2, 2014). At the same time, the stop loss should be placed at the level of 1.6725.
Second outlook: Buy above 1.6580 (if the trend fails to close below it) with a target at 1.6650. It should also be noticed that the price of 1.6650 is representing the double top in H1 chart.
Notes:
Weekly range: 163 pips.
Volatility: 181.66. So, the market indicates the higher volatility today.
The key level will set at the price of 1.6585.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 3, 2014

Show full picture Overview: The weekly pivot point of the EUR/USD pair has set at the level of 1.3777. Also, the daily pivot point set at the same price for April 3, 2014. Consequently, the market has still been calling for downward because the price has set below the weekly pivot point at 1.3777 since yesterday. Accordingly, if the trend fails to close above the level of 1.3777, then it will be a good opportunity to sell below the weekly pivot point with the first target at 1.3704 in order to test the double bottom, then it will be continued in downtrend towards 1.3678 (this level is going to represent the weekly support 1). 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 double top at the level of 1.3820.
Intraday technical levels:
Date and Time:
3/04/2014 11:05 Pair: EUR/USD
R3: 1.3867
R2: 1.3842
R1: 1.3803
PP: 1.3777
S1: 1.3739
S2: 1.3714
S3: 1.3675

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 3, 2014

Around price levels of 1.6780, a Double Top pattern scenario was executed with the neckline located around the price zone of 1.6620-1.6660. Daily fixation below this price zone enabled the pair to reach 1.6464 (61.8% Fibonacci) as a projection target. The recently achieved low at 1.6465 (also corresponding to a previous uptrend line) prevented further decline. Yet, the bulls were unable to fix above 1.6630-1.6666 (prominent top established on January 24). A slide below 1.6580 (previous bottom established on January 24) applies bearish pressure on the pair to pursue towards lower lows around 1.6510 and 1.6470. Otherwise, the bulls would be targeting at 1.6750-1.6775.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 04, 2014

When the European market opens, some economic news will be released such as German Factory Orders m/m, Retail PMI.The US will release the economic data too such as the US-Non-Farm Employment Change, US-Unemployment Rate, so amid the reports, EUR/USD will move with medium to high volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3789.
Strong Resistance:1.3780.
Original Resistance: 1.3767.
Inner Sell Area: 1.3754.
Target Inner Area: 1.3721.
Inner Buy Area: 1.3688.
Original Support: 1.3675.
Strong Support: 1.3662.
Breakout SELL Level: 1.3653.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3675 and 1.3767. The rate is accompanied by strong support at 1.3662 and by 1.3780 as strong resistance. If EUR/USD breaks out and closes below the 1.3653 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3789 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 1.3688 and at 1.3754, a SELL position. In this case both targets should be placed at the level of 1.3721.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 4, 2014

Overview: It should be noted that the first key level will set at the level of 1.6585 and the second key level will set at the 1.6650 level on April 4, 2014. Also, it should be noticed that the levels are coinciding with the weekly pivot point and the double top respectively. Equally important, the price of GBP/USD pair has still been moving between 1.6570 and 1.6613. Furthermore, the trend has been very clear indicating downward direction. As it is known, sellers are asking for a high price. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.6650 in H1 chart. As a result, sell at the price of 1.6650 with the first target of 1.6585 in order to test the weekly pivot point and it might resume to 1.6520. On the other hand, your stop loss should be placed above the 1.6650, hence it will helpful to set it at the price of 1.6683. Additionally, it should be noted that the range was about 91 pips yesterday.

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

 

[bhanu545]

Weekly technical levels of EUR/USD for March 7-11, 2014

Notes: We expect a new range about 68 pips today.
The risk of 68 pips must make a profit of 102 pips.
The value of 50% Fibonacci retracement levels is 1.3745 in H1 chart.
The level of 1.3745 will confirm the bullish market.
The daily volatility on March 7, 2014 is 78.56.
As a rule, the market is highly volatile if the last day had a huge volatility.

Overview: It should be noted that the price of EUR/USD pair will be moving between 1.3731 and 1.3672 today. Moreover, it should notice that the key level is set at the level of 1.3791. Equally important, the weekly resistance 1 will be formed at the 1.3791 level. Therefore, it will a good sign to sell below the weekly resistance 1 (1.3791) with the first target of 1.3731 (the weekly pivot point). It will call for downtrend in order to continue its bearish movement towards 1.3772 in order to test the double bottom on March 7, 2014. On the other hand, the stop loss should never exceed your maximum exposure amounts, consequently the stop loss should be placed above the double top in H1 chart at the price of 1.3830.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 07, 2014

Intraday- The pair is in a complete down trend, trading below the all daily moving averages. It is not good to enter longs until the pair crosses the 1.6595 (200EMA) marked with a yellow line. Risky traders can enter longs only above the 200EMA level, with targets at 1.66 and 1.6611. Safe traders, buy above the 1.6611 levels for targets 1.6660. On the down side, if the pair does not cross the yellow line, it will fall to the downside purple line at 1.6550, below this, to 1.65-1.6480 and 1.6465 levels. Sell on rallies until the pair crosses the 1.6611 level, for sellers. Adopt one strategy and trade safely.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 08, 2014

Today EUR/USD has support and resistance at 1.3596 and 1.3788. The rate is accompanied by strong support at 1.3682 and by 1.3801 as strong resistance. If EUR/USD breaks out and closes below the 1.3674 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3810 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 1.3709 and at 1.3775, a SELL position. In this case both targets should be placed at the level of 1.3742.

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