Technical analysis on EU,GU and majors

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 8, 2014

Around price zone of 1.6780-1.6800, a double-top pattern scenario was established 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 low at 1.6465 then 1.6555 ( corresponding to the depicted uptrend line) prevented further bearish decline. The bulls around this level applied bullish pressure strong enough to fixate above 1.6630-1.6666 (corresponding to a prominent top established on January 24). As long as the ascending bottom established at the uptrend around 1.6555 remains intact, the bulls would be targeting at 1.6750-1.6780. On the other hand, a slide below price zone of 1.6665-1.6650 applies bearish pressure on 1.6550 to pursue towards lower lows around 1.6465 and 1.6400.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 9, 2014

Overview: The EUR/USD pair has rebounded from the minor support at the level of 1.3731, and it is now approaching its support in order to test it. Moreover, it should be noted that the price of 1.37316 is representing the weekly pivot point for April 9, 2014. Equally important, the weekly pivot point is coinciding with the ratio of 38.2% Fibonacci retracement levels. Consequently, it will probably start upside movement in this area and recover again. Therefore, it will be a good sign to buy at this spot with the first target of 1.3791 (it should be noted that this level will form the weekly resistance 1) and continue towards 1.3819 to form the double top. On the other hand, in case of a break of 1.3707, a good place for stop loss will be below 1.3700.
Notes:
The major resistance will be set at the level of 1.3810.
The minor support is going to be placed at 1.3730.
We expect a new range of about 80 pips today.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 9, 2014

Forecast: According to the previous events, the price of GBP/USD pair has still been trapped between 1.6750 and 1.6683. The level of 1.6763 is representing the strong resistance on April 9, 2014. It should be noted that the price of 1.6763 is coinciding with the ratio of 161.8 Fibonacci. The minor resistance has set at the level of 1.6654. The market was calling in uptrend for that the trend broke the resistance. Thereupon, the resistance became a strong support since yesterday. So, buy above the level of 1.6654 in the short term with the first target of 1.6718, it might resume to 1.6767 if the trend will be able to break the weekly resistance 2 at 1.6734.
Intraday technical levels:
R3: 1.6945
R2: 1.6849
R1: 1.6798
PP: 1.6702
S1: 1.6651
S2: 1.6555
S3: 1.6504

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

 

[bhanu545]

Technical analysis of EUR/USD for April 10, 2014

When the European market opens, some economic news will be released such as French Industrial Production m/m, French CPI m/m, ECB Monthly Bulletin, Italian Industrial Production m/m.The US will release the economic data too such as the Unemployment Claims, Import Prices m/m, Natural Gas Storage, 30-y Bond Auction, 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: 1.3919. Strong Resistance:1.3910. Original Resistance: 1.3897. Inner Sell Area: 1.3884. Target Inner Area: 1.3851. Inner Buy Area: 1.3818. Original Support: 1.3805. Strong Support: 1.3792. Breakout SELL Level: 1.3783.
DESCRIPTION: Today EUR/USD has support and resistance at 1.3805 and 1.3897. The rate is accompanied by strong support at 1.3792 and by 1.3910 as strong resistance. If EUR/USD breaks out and closes below the 1.3783 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3919 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 1.3818 and at 1.3884, a SELL position. In this case both targets should be placed at the level of 1.3851.

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

 

[bhanu545]

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

The depicted uptrend line remains intact since it was established in November 2013. Successive ascending bottoms were established around 1.5850, 1.6250, and 1.6460, and recently another ascending bottom around 1.6565 was established. The pair has established new resistance levels between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern. A bullish impulse was initiated this week around 1.6565 pushing towards price zone of 1.6765 - 1.6815. Bearish price action is expected to be expressed during this visit. Re-closure below 1.6765 exposes price level of 1.6730 then a stronger support zone between 1.6640-1.6610, in case the intraday support fails to hold price above. like his article, please vote for him.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 11, 2014

When the European market opens, some economic news will be released such as German Final CPI m/m, 30-y Bond Auction.The US will release the economic data too such as the PPI m/m, Core PPI m/m, Prelim UoM Consumer Sentiment, Prelim UoM Inflation Expectations, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3954.
Strong Resistance:1.3945.
Original Resistance: 1.3932.
Inner Sell Area: 1.3919.
Target Inner Area: 1.3886.
Inner Buy Area: 1.3853.
Original Support: 1.3840.
Strong Support: 1.3827.
Breakout SELL Level: 1.3818.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3840 and 1.3932. The rate is accompanied by strong support at 1.3827 and by 1.3945 as strong resistance. If EUR/USD breaks out and closes below the 1.3818 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3954 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 1.3853 and at 1.3919, a SELL position. In this case both targets should be placed at the level of 1.3886.

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

 

[bhanu545]

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

Although, the depicted uptrend line remains intact since it was established in November 2013, this time the bulls are failing to achieve a new high above 1.6800-1.6820. Successive ascending bottoms were established around 1.5850, 1.6250, and 1.6460, and recently another ascending bottom around 1.6565 was established. The pair has established recent resistance levels between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern. A bullish impulse was initiated this week around 1.6565 pushing towards price zone of 1.6765 - 1.6815. Bearish price action is being expressed during this visit as expected Yesterday. Re-closure below 1.6765 exposed price level of 1.6730. In case the recent daily low representing intraday support around 1.6720 fails to apply enough buying pressure, a stronger support zone comes to meet the pair between 1.6640-1.6610.,

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

 

[bhanu545]

Technical analysis of EUR/USD for April 14, 2014

Today EUR/USD has support and resistance at 1.3799 and 1.3891. The rate is accompanied by strong support at 1.3786 and by 1.3904 as strong resistance. If EUR/USD breaks out and closes below the 1.3777 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3913 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 1.3812 and at 1.3878, a SELL position. In this case both targets should be placed at the level of 1.3845.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 14, 2014

Around the price zone of 1.6780-1.6800, a Double Top pattern scenario was previously established during February and March. Daily fixation below 1.6600 (reversal pattern neckline) exposed price level 1.6530 (50% Fibonacci) then enabled the pair to hit the full projection target at 1.6464 (61.8% Fibonacci). The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep fixing above 1.6630-1.6666 (corresponding to a prominent top established on January 24). As long as the ascending bottom established at the uptrend around 1.6555 remains intact, the bulls will be consolidating around 1.6780-1.6800. The nearest demand zone to meet the pair is located at 1.6660-1.6675. It's the most recent established top on the current bullish swing. Any bearish pull-back towards 1.6660 -1.6675 should be considered for buying as long as 1.6555 (most recent bottom) remains defended by the bulls.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 15, 2014

Today EUR/USD has support and resistance at 1.3768 and 1.3860. The rate is accompanied by strong support at 1.3755 and by 1.3873 as strong resistance. If EUR/USD breaks out and closes below the 1.3746 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3882 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 1.3781 and at 1.3847, a SELL position. In this case both targets should be placed at the level of 1.3814.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 15, 2014

Around the price zone of 1.6780-1.6800, a Double Top pattern scenario was previously established during February and March. Daily fixation below 1.6600 (reversal pattern neckline) exposed price level 1.6530 (50% Fibonacci) then enabled the pair to hit the full projection target at 1.6464 (61.8% Fibonacci). The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep fixing above 1.6630-1.6666 (corresponding to a prominent top established on January 24). As long as the ascending bottom established at the uptrend around 1.6555 remains intact, the bulls will be consolidating around 1.6780-1.6800. The nearest demand zone to meet the pair is located at 1.6660-1.6675. It's the most recent established top on the current bullish swing. Any bearish pull-back towards 1.6660 -1.6675 should be considered for buying as long as 1.6555 (most recent bottom) remains defended by the bulls.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 16, 2014

Today EUR/USD has support and resistance at 1.3763 and 1.3855. The rate is accompanied by strong support at 1.3750 and by 1.3868 as strong resistance. If EUR/USD breaks out and closes below the 1.3741 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3877 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 1.3776 and at 1.3842, a SELL position. In this case both targets should be placed at the level of 1.3809.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 16, 2014

Around the price zone of 1.6780-1.6800, a Double Top pattern scenario was previously established during February and March. Daily fixation below 1.6600 (reversal pattern neckline) exposed price level 1.6530 (50% Fibonacci) then enabled the pair to hit the full projection target at 1.6464 (61.8% Fibonacci). The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep fixing above 1.6630-1.6666 (corresponding to a prominent top established on January 24). As long as the ascending bottom established at the uptrend around 1.6555 remains intact, the bulls will be consolidating around 1.6780-1.6800. The nearest demand zone to meet the pair is located at 1.6660-1.6675. It's the most recent established top on the current bullish swing. As mentioned Yesterday, any bearish pull-back towards 1.6660 -1.6675 should be considered for buying. Yesterday this BUY position was triggered and running in profits now. As long as 1.6555 (most recent bottom) remains defended by the bulls our long position remains valid.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 17, 2014

During the European session, German PPI m/m is slated for release. The US will release the economic data too such as the Unemployment Claims, Philly Fed Manufacturing Index, Natural Gas Storage, so amid the reports, EUR/USD will move low volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3880.
Strong Resistance:1.3881.
Original Resistance: 1.3868.
Inner Sell Area: 1.3855.
Target Inner Area: 1.3822.
Inner Buy Area: 1.3789.
Original Support: 1.3776.
Strong Support: 1.3763.
Breakout SELL Level: 1.3754.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3776 and 1.3868. The rate is accompanied by strong support at 1.3763 and by 1.3881 as strong resistance. If EUR/USD breaks out and closes below the 1.3754 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3880 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 1.3789 and at 1.3855, a SELL position. In this case both targets should be placed at the level of 1.3822.

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

 

[bhanu545]

Intraday technical levels and trading recommendations for GBP/USD for April 17, 2014

Previously, around the price zone of 1.6780-1.6800, a Double Top pattern scenario was established during February and March. Daily fixation below 1.6600 (reversal pattern neckline) exposed price level 1.6530 (50% Fibonacci) that enabled the pair to hit the full projection target at 1.6464 (61.8% Fibonacci). The recent lows at 1.6465 as well as 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep fixing above 1.6630-1.6666 (corresponding to a prominent top established on January 24). As long as the ascending bottom established at the uptrend around 1.6555 remains intact, the bulls will be consolidating around 1.6780-1.6800. The nearest demand zone to meet the pair is located at 1.6660-1.6675. It's the most recently established top on the current bullish swing. A bearish pull-back towards 1.6660 -1.6675 was considered for buying. This position is running in profits now (+150 pips). As long as 1.6666 (most recent bottom) remains defended by the bulls, our long position remains valid. However, it is risky to take new long positions at these high levels so partial profits taking should be executed.

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

 

[bhanu545]

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

The 4H chart reveals more significance of the demand zone around the recently broken top mentioned above in the daily chart. This demand zone corresponds to 50% and 61.8% Fibonacci levels which is a critical demand zone for the ongoing bullish swing which offered a valid BUY entry on the recent bearish pull-back as expected. Stop loss should be advanced to 1.6680 to offset the risk of this profitable position and price action should be watched around 1.6820 for a possible bullish breakout above 1.6845.

Performed by , Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Intraday technical levels and trading recommendations for EUR/USD for April 18, 2014

Since the EUR/USD pair broke below 1.3855, the pair has roughly been moving sideways with slight bearish tendency until the depicted uptrend line came to meet the pair roughly at 1.3700-1.3680 enhancing this price zone as a significant intraday demand. This led to the recent bullish impulse above 1.3810 and 1.3855. As suggested on Friday, price levels around 1.3880 provided a valid SELL entry. Profits should have been taken near 1.3820-1.3800. For the bulls, price zone of 1.3810-1.3785 remains the nearest DEMAND zone to be watched for a valid BUY position. Stop Loss should be located below 1.3740. On the other hand, 1.3880 remains the nearest supply level for the bears. It should be watched for early exit of the current bullish position in case bearish breakdown of 1.6800 takes place.

Performed by , Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Weekly technical levels of EUR/USD for April 21-25, 2014

Overview: The EUR/USD pair has broken a major resistance at the level of 1.3894. Additionally, it should be noted that the gap had opened below the major resistance last week. Moreover, the weekly pivot point calculated at 1.3820 this week and it is now approaching from it in order to test it. Therefore, it will probably start upside movement at this area and recover again. So the market will indicate a bullish opportunity above the weekly pivot point (1.3820 ) for that it will a good sign to buy at this spot with a first target of 1.3863 (the double top), and continue towards 1.3890. On other hand, if there is a break at the price of 1.3805, then it will be a good location for placing the stop loss.

Notes:
The daily support will set at the level of 1.3746.
The major resistance is going to set at the 1.3894.
We saw an insignificant range of 74 pips last week because the volatility was not high. But, this week we expect the large range of 180 pips.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for April 21-25, 2014

Trading recommendations:
According to previous events, the price of GBP/USD pair has still been trapping between 1.6835 and 1.6775. Buy above the level of 1.6745 (this level is representing the weekly pivot point) with the first target of 1.6841, it might resume to 1.6866 today in order to test the weekly resistance 1. Also, it should be noted that the market was so stable and trend was also so clear (upward) last week. However, the stop loss should be always be into account, therefore it will be very useful to set your stop loss at the price of 1.6750

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

 

[bhanu545]

Weekly forecast of GBP/USD for April 22-25, 2014

Intraday- The pair having support at 1.6783 levels; until the pair holds this level, it will shoot up to 1.6819 levels. Currently it is trading in a range between 1.6819-1.6783. The RSI in the H4 chart doesn't favor to buyers. If any up move takes place, traders can enter shorts in every rise. Selling on rallies is the best strategy for near and short term basis. Safe traders can go short below 1.6783 targets 1.6774 and 1.6720
S1 1.6783 R1 1.6819
S2 1.6772 R2 1.6841
S3 1.6720 R3 1.6875

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