Technical analysis on EU,GU and majors

[bhanu545]

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

Intraday- The pair is taking support at 1.3780 level, bulls can take the pair up to 1.3820 and 1.3834 levels. The level 1.38 is the key indicator for today's trading session. Bulls will have upper hand only above 1.38. Bears will gain strength only below 1.3780. So it's clear, until we get a break on the upside 1.38 or downside 1.3780, we don't get clear trend. Once the pair breaks the 1.3780, it will drift up to 1.3762 and 1.3740 levels immediately. On the higher side 1.3833 and 1.3850 are the strong resistance levels.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 23, 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.The US will release the economic data too such as the Flash Manufacturing PMI, New Home Sales, 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: 1.3875.
Strong Resistance:1.3866.
Original Resistance: 1.3853.
Inner Sell Area: 1.3840.
Target Inner Area: 1.3807.
Inner Buy Area: 1.3774.
Original Support: 1.3761.
Strong Support: 1.3748.
Breakout SELL Level: 1.3739.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3761 and 1.3853. The rate is accompanied by strong support at 1.3748 and by 1.3866 as strong resistance. If EUR/USD breaks out and closes below the 1.3739 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3875 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 1.3774 and at 1.3840, a SELL position. In this case both targets should be placed at the level of 1.3807.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 23, 2014

Trading recommendations:
According to the previous events, the price of GBP/USD pair is going to move between the level of 1.6773 and 1.6840.
Hence, the range of the GBP/USD pair will be around 65 pips today.� The resistance has set at the level of 1.6866 this week.
Equally important, the support has set at 1.6765 and it should be noted that the same level is representing the weekly pivot point.
Consequently the market will indicate a bearish opportunity below 1.6866, because the level of 1.6866 is going to act as strong resistance.
Therefore, it will be a good sign to sell below this level today with the first target of 1.6765 in order to try to break the weekly pivot point in H1 chart.
Furthermore, if the trend manages to close below weekly pivot point, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6725.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 24, 2014

Overview: The weekly pivot point of the EUR/USD pair has set at the level of 1.3820. Also, the daily pivot point set at the 1.3820 price today and the price now is around this key level. Consequently, the market has still been calling for a rally because the price has set above the key level since yesterday. Accordingly, if the trend fails to close below the level of 1.3820, then it will be a good opportunity to buy above the level of 1.3820 with the first target at 1.3663 (this level is going to represent a double top), then it will be continued in uptrend towards 1.3894 in order to test the weekly resistance 1 on April 24, 2014. At the same time, the stop loss should always be taken in account because it should never exceed your maximum exposure amounts. As a result, the best location to set your stop loss should be placed below the level of 1.3789. It should be noted that the price of 1.3789 is representing the double bottom.
Intraday technical levels:
Date and Time: 24/04/2014 10:03
Pair: EUR/USD
R3: 1.3901
R2: 1.3878
R1: 1.3846
PP: 1.3823
S1: 1.3791
S2: 1.3768
S3: 1.3736

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

 

[bhanu545]

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

On April 15, the bulls were concentrated around 1.6666. They provided significant support on the last pull-back resulting in a bullish reversal Hammer daily candlestick.
Shortly after, a consolidation zone was established between 1.6767-1.6830. The bulls couldn't show enough follow up around 1.6850. Instead, a sideway movement is taking place.
The GBP/USD pair looks bearish on the short-term prospective. Breakdown of 1.6767 opens the way towards 1.6700 and 1.6660.
On the other hand, price zone of 1.6830-1.6850 should be considered for selling as long as the bulls can't achieve the daily closure above it.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 25, 2014

Today EUR/USD has support and resistance at 1.3783 and 1.3875. The rate is accompanied by strong support at 1.3770 and by 1.3888 as strong resistance. If EUR/USD breaks out and closes below the 1.3761 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3897 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 1.3796 and at 1.3862, a SELL position. In this case both targets should be placed at the level of 1.3829.

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

 

[bhanu545]

Daily analysis of GBP/USD for April 25, 2014

The GBP/USD remains above the support level of 1.6766. For now, the bullish bias is kept alive, as this pair has formed a fractal below the support level of 1.6766, which could give to the GBP/USD a bullish momentum for the next days. If the pair manages to consolidate above the 1.6851 level, it's expected to rise to the level of 1.7000. The MACD indicator is entering neutral territory.

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

 

[bhanu545]

Weekly technical levels of EUR/USD for April 28, 2014

Observations: If there is no significant news to influence, the market price will be moving from pivot point to resistance 1 (1.3863). But if there is significant news to influence, the market price may go straight through resistance 1 (1.3863) and reach resistance 2 (1.3892) or weekly pivot point (1.3824) and even resistance 3 (1.3931). If the trend is upward, then the strength of the currency will be defined as follows: EUR is in an uptrend and USD 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 trapped and going up or down. If you sell or buy in the long term, you will surely lose your profit.

Notes:
Major support on April 28, 2014: 1.3824
The level of 1.3824 is representing the weekly pivot point.
Major resistance has already set at the price of 1.3892.
We expect a new range about 200 pips.
It should be noted that for the last fifteen days the weekly range was very small between 74 pips and 68 pips.him.

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

 

[bhanu545]

Weekly technical levels of GBP/USD for April 28, 2014

Trading recommendations:
The support of the GBP/USD pair has set at the price of 1.6800 and this price is coinciding with the weekly pivot point.
As it is known, buyers bid at a lower price. Therefore, the first key level will set at the level of 1.6800 and the second key level will set at the 1.6833 level today.
Moreover, it should be noted that the area between 1.68 and 1.6833 is representing strong support in H1 chart.
Equally important, the price of the GBP/USD pair is still moving between 1.6838 and 1.6810.
Additionally, it should be noticed that the range was about 80 pips last week, but we expect a large range this week.
Furthermore, the trend was very clear and indicating uptrend. Accordingly, we expect that the trend is going to call for the bullish market at the level of 1.6800 or 1.6833.
As a result, buy at the price of 1.6800 with the first target of 1.6640, it might resume to 1.6675 in order to test the weekly resistance 2.
On the other hand, your stop loss should be placed below the 1.6800 level, hence it will helpful to set it at the price of 1.6750 this week.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 29, 2014

When the European market opens, some economic news will be released such as GfK German Consumer Climate, Spanish Unemployment Rate, German Prelim CPI m/m, M3 Money Supply y/y, Private Loans y/y, Italian Retail Sales m/m, Italian 10-y Bond Auction.The US will release the economic data too such as the CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3920. Strong Resistance:1.3911. Original Resistance: 1.3898. Inner Sell Area: 1.3885. Target Inner Area: 1.3852. Inner Buy Area: 1.3819. Original Support: 1.3806. Strong Support: 1.3793. Breakout SELL Level: 1.3784.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3806 and 1.3898. The rate is accompanied by strong support at 1.3793 and by 1.3911 as strong resistance. If EUR/USD breaks out and closes below the 1.3784 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3920 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 1.3819 and at 1.3885, a SELL position. In this case both targets should be placed at the level of 1.3852.

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

 

[bhanu545]

Daily analysis of GBP/USD for April 29, 2014

H1 chart: The GBP/USD made a bearish rebound in the resistance level of 1.6850 which has formed a point of control. Now, this pair has made a bullish rebound at the support level of 1.6800. If the pair manages to make a breakout on the resistance level of 1.6850, it's expected to rise to the level of 1.6900. The MACD indicator is in neutral territory.

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.6850, take profit is at 1.6900, and stop loss is at 1.6800.

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

 

[bhanu545]

Technical analysis of EUR/USD for April 30, 2014

When the European market opens, some economic news will be released such as German Retail Sales m/m, French Consumer Spending m/m, Spanish Flash GDP q/q, German Unemployment Change, Italian Monthly Unemployment Rate, CPI Flash Estimate y/y, and Italian Prelim CPI m/m. The US will disclose its ADP Non-Farm Employment Change, Advance GDP q/q, Advance GDP Price Index q/q, Employment Cost Index q/q, Chicago PMI, Crude Oil Inventories, FOMC Statement, and Federal Funds Rate. So amid the reports, EUR/USD will move with low to medium volatility today.
Today's technical levels:
Breakout BUY Level: 1.3881.
Strong Resistance:1.3872.
Original Resistance: 1.3859.
Inner Sell Area: 1.3846.
Target Inner Area: 1.3813.
Inner Buy Area: 1.3780.
Original Support: 1.3767.
Strong Support: 1.3754.
Breakout SELL Level: 1.3745.
Description:
Today EUR/USD has support and resistance at 1.3767 and 1.3859. The rate is accompanied by strong support at 1.3754 and by 1.3872 as strong resistance. In case EUR/USD breaks out and closes below the 1.3745 level today, it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3881 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 1.3780 and SELL position at 1.3846. In this case both targets should be placed at the level of 1.3813.

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

 

[bhanu545]

Technical analysis of GBP/USD for April 30, 2014

Review- PRELIM GDP - Growth in the UK has accelerated to 0.8 percent in the first three months of 2014, but hasn�t recovered to pre-recession levels, according to the Office for National Statistics in London. GDP is still 0.6 percent below its peak level reached 6 years ago. Year-on-year growth was 3.1 percent, which also missed the 3.2 percent forecast, according to the figures from the Office for National Statistics (ONS) released today. Britain's economy racked up its fastest growth in more than six years in early 2014. Technical view- In Asia's trading session, the pair is trading at 1.6824 levels. For today and the rest of the week, a trading pattern is very simple - sell on a rally. Bullish traders can wait patiently until it trades above 1.6875 levels. Traders can buy only above 1.6875 for targets at 1.69, 1.6911, 1.6950, 1.70 and 1.704 levels. On the down side, sellers can enter short positions only below 1.68 levels for immediate targets at 1.6778, 1.6766, 1.6763 levels. Once it breaks the 1.6763 levels, it will drift all the way towards 1.67, 1.6660 and 1.6681 levels. The panic situation will arise only after a break below 1.6681 (50SMA, daily) aiming at 1.66 and 1.6554 levels. Until the pair crosses the 1.6830 levels, it looks weak. As of now, it made a high at 1.6829 levels and trading at 1.6825. On a positional basis, the pair has been trading in a range between 1.6763-1.6875. Breaking out either side will create a room for further trading setup. For intraday traders don't even think to buy below 1.6830.

Buy above 1.6875
Sell below 1.68

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for May 1, 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 significant intraday demand. This led to the recent bullish impulse above 1.3810 and 1.3855. For the bulls, price zone of 1.3810-1.3785 remains the nearest DEMAND zone which provided a valid BUY entry previously. It corresponds to the lower limit of the ongoing consolidation range. On the other hand, 1.3880 remains the nearest supply level for the bears. It should be watched for early exit from the current bullish position in case significant bearish momentum is expressed. . Stop loss for the bullish position should be advanced to 1.3770 to secure some profits.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for May 1, 2014

Previously, around the price zone of 1.6780-1.6800, a Double Top pattern scenario was established during February and March. The full projection target was hit at 1.6464 (61.8% Fibonacci) after the bears managed to fixate below 1.6600 (reversal pattern neckline). 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 remaining intact, the market will keep up its bullish momentum. The daily chart shows a bullish breakout trial being expressed above 1.6800-1.6850. The bullish momentum should be apparent now to allow the bullish breakout to pursue towards further targets. Otherwise, failure may occur. The nearest demand zone to meet the pair is located at 1.6820 It's the most recently established top and the upper limit of the consolidation zone. The bullish position taken around 1.6660 -1.6675 is still running in profits. Partial profits should be taken to avoid any possible reversal.

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

 

[bhanu545]

Technical analysis of EUR/USD for May 2, 2014

Overview: As expected, the price of the EUR/USD pair is going to turn to bearish sentiment from the level of 1.3892 because the resistance has already set at the level of 1.3892 and the double top was also placed near the resistance at 1.3887. Accordingly, it will a good sign to sell in this area with the first target of 1.3843 to test a minor support at this price which represents the the ratio of 61.8% Fibonacci retracement level in H1 chart. Also, if the trend will be able to break 61.8% Fibonacci retracement, it calls for downtrend in order to continue its bearish movement towards 1.3824. The weekly pivot point of EUR/USD pair this week has set at 1.3824. Notwithstanding, the stop loss should be placed at the price of 1.3923. Equally important, it should also be noted that the support will set at the 1.3824 level today.

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

 

[bhanu545]

Technical analysis of GBP/USD for May 2, 2014

Overrview: The first key level of GBP/USD pair will set at the level of 1.6875 and the second key level will set at the 1.6840 level today (on April 2, 2014). Moreover, it should be noted that the level of 1.6920 is representing the resistance and the double top at the same price. Additionally, the 1.6840 level is going to act as the support in H1 chart. Equally important, the price of the GBP/USD pair is still moving between 1.6880 and 1.6860. Another thought, it should be noted that the range was about 55 pips yesterday.
Furthermore, the trend was very clear and indicating downtrend from the double top at the level of 1.6920. Accordingly, we expect that the trend is going to call for the bearish market at the level of 1.66920. As a result, sell at the price of 1.6920 with the first target of 1.6870, it might resume to 1.6835 in order to test the weekly support.
On the other hand, your stop loss should be placed above the 1.6920 level. Thereupon, it will be helpful to set it at the price of 1.6953 today.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for May 5, 2014

Since the EUR/USD pair broke below 1.3855, the pair has roughly been moving within a bearish channel until the depicted uptrend line came to meet the pair roughly at 1.3700-1.3680 enhancing this price zone as significant intraday demand. This led to the recent bullish impulse above 1.3810 and 1.3880. For the bulls, the price zone of 1.3810-1.3785 remains the nearest demand zone which provided a valid buy entry previously. It corresponds to the lower limit of the ongoing consolidation range. On the other hand, 1.3880 remains the nearest supply level for the bears. It should be watched for price action. The last bottom established around 1.3810 is still failing to achieve higher high above 1.3880. This is an early sign of lack of bullish momentum. Bearish price action may suggest a possible bearish retracement towards the lower limit of the consolidation range. A bullish breakout above 1.3880 opens the way for a bullish spike towards 1.3950 to take place shortly after.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for May 5, 2014

As long as the ascending bottoms established at the uptrend around 1.6675, 1.6775 and 1.6825 remain intact, the market will keep its bullish momentum.
The pair has been trending up within the depicted bullish channel for a couple of weeks now. Last week, a bearish impulse was initiated off 1.6910 that led again towards the previous consolidation zone at the price level of 1.6820.
The bearish momentum was contained above 1.6820 (the lower limit of the depicted channel). The bulls have been failing to the record a higher high above the recent one at 1.6900. Instead, a minor lower low was established around 1.6875.
Bearish fixation below 1.6850 is necessary to maintain the bearish tendency of the market. Otherwise, bullish destination will be located at 1.6950 aiming for a new high.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for May 6, 2014

Since the EUR/USD pair broke below 1.3855, the pair has roughly been moving within a bearish channel until the depicted uptrend line came to meet the pair roughly at 1.3700-1.3680 enhancing this price zone as significant intraday demand. This led to the recent bullish impulse above 1.3810 and 1.3880.
For the bulls, price level of 1.3880 remains the nearest DEMAND level for them. It should be watched for a possible BUY position at retesting.
Finally, the last bottom established around 1.3810 could achieve higher high above 1.3880. However, the current levels correspond to the upper limit of the ongoing bullish channel.
This may lead to a corrective movement towards 1.3880 before further bullish spikes can take place.

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