Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for May 20, 2014

The pair has established recent resistance zone between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern.
The depicted BLUE uptrend line remains intact since it was established in November 2013. However, this time the bulls are failing to maintain higher prices above 1.6800-1.6840.
Successive ascending bottoms were established around 1.5850, 1.6250, and 1.6460, and recently another ascending bottom around 1.6735 was established.
As long as the recent bottom around 1.6735 remains defended by the bulls. The market will keep developing bullish pressure to push above 1.6840. Otherwise, the bears will push strongly to the downside to keep moving within the depicted 4H channel especially after no significant bullish pressure was expressed upon the recent bullish breakout on the 4H chart.
Four-Hour closure below 1.6800 will gather enough bearish momentum to push lower.
On the other hand, bullish breakout above 1.6840 will expose 1.6900 and 1.6940 respectively.

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

 

[bhanu545]

Technical analysis of EUR/USD for May 22, 2014

Trading recommendations:
According to previous events, the price of EUR/USD pair is going to move between 1.3710 and 1.3634.
The level of 1.3634 is going to form the double bottom in H1 chart.
Also, it should be noted that the market was so stable and trend was also so clear (upward) last week.
We expect a bullish market today from the area of 1.3600 /1.3634.
So, buy above the level of 1.3600 or 1.3634 (this level is representing the weekly support one) with the first target of 1.3700, it might resume to 1.3766 tomorrow in order to test the weekly resistance one.
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 1.3575

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for May 22, 2014

The reversal wedge pattern applied enough bearish pressure to confirm the ongoing reversal pattern which got confirmed by breakdown of price zone of 1.6830-1.6810. The bulls managed to record a higher value above the recent one at 1.6900. However, the ongoing market demand has been fulfilled around 1.6920 which led to a price decline again. Price level 1.6840 is the nearest demand level to meet the pair. Price action should be watched carefully for a possible BUY entry with SL to be located below 1.6800.

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

 

[bhanu545]

Technical analysis of EUR/USD for May 23, 2014

When the European market opens, some economic news will be released such as German Final GDP q/q, German Ifo Business Climate, Italian Retail Sales m/m, European Parliamentary Elections, Belgian NBB Business Climate.The US will release the economic data too such as the New Home Sales, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3721.
Strong Resistance:1.3712.
Original Resistance: 1.3699.
Inner Sell Area: 1.3686.
Target Inner Area: 1.3653.
Inner Buy Area: 1.3620.
Original Support: 1.3607.
Strong Support: 1.3594.
Breakout SELL Level: 1.3585.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3607 and 1.3699. The rate is accompanied by strong support at 1.3594 and by 1.3712 as strong resistance. If EUR/USD breaks out and closes below the 1.3585 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3721 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 1.3620 and at 1.3686, a SELL position. In this case both targets should be placed at the level of 1.3653.

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

 

[bhanu545]

Technical analysis of GBP/USD for May 23, 2014

Show full picture Overview: The GBP/USD pair couldn't break the resistance at the level of 1.6898 on May 23, 2014. Also, it should be noted that this strong resistance has coincided with the double bottom in H1 chart. Moreover, the weekly pivot point had already set at 1.6815. Then, according to previous events, the pair is going to move between 1.6902 and 1.6815. Consequently, we expect a range about 87 pips (1.6902 - 1.6815). Additionally, note that the trend is still setting above the ratio of 50% Fibonacci retracement levels which representing the weekly pivot point. At that point, the level of 1.6815 is really acting as support. Futhermore, the RSI has still positive and above the level of 30. So, it is a good sign to buy above the weekly pivot point (1.6815) with the first target of 1.6870, and continue towards 1.6902 (100% of Fibonacci retracement levels). Notwithstanding, if the trend breaches the level of 1.6815 and closure below it in H4 chart, it will also a good sign to set your stop loss at the price of 1.6580.
Performed by Mourad El Keddani, Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Weekly technical levels of EUR/USD for May 26-30, 2014

Overview: The EURUSD pair support was broken and turned to resistance around the price of 1.3688 last week (May 23, 2014). The new support is coinciding with the ratio of 61.8% Fibonacci retracement levels. Therefore, the pair is going to form strong resistance at the above-mentioned level. Moreover, after it could not close above 61.8% Fibonacci retracement levels (1.3688), then the pair started signing for bearish market at this level. Thus, the EURUSD pair will be called in a downside momentum rather convincing and the structure of the fall does look not corrective, in order to indicate the bearish opportunity below 1.3690. For that it will a good sign to sell below 1.3690 with the first target of 1.3660 (the weekly pivot point has set at the level of 1.3659 for May 26-30, 2014) and it will call for downtrend in order to continue bearish towards 1.3615 for testing the double bottom. However, it should also be noted that the price has still been moving between 1.3670 and 1.3630. Also, the MA(50) is still calling for downtrend at this spot.

Performed by , Analytical expert
InstaForex Group © 2007-2014

 

[bhanu545]

Weekly technical levels of GBP/USD for May 26-30

Trading recommendations: According to the previous events, the price of GBP/USD is going to move between the levels of 1.6875 and 1.6815. Buy above the level of 1.6801 which representing the double bottom in H1 chart with the first target at 1.6855, then the trend will be able to continue toward the level of 1.6890. Notwithstanding, the stop loss should be set at 1.6766.

Preview: 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 the sideways markets as 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 moving. If the breaking news released may affect the market, the price is likely to go straight through R1 or S1 and even reach R2 and R3 or S2 and S3.

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

 

[bhanu545]

Technical analysis of EUR/USD for May 27, 2014

Hourly- For intraday purpose, the pair looks good only above the 1.3654 levels, until it crosses it, the pair favors a slide again to the support levels 1.3634, 1.3616 and 1.36 levels. In case of a break below 1.36, it will slide to 1.3565 and 1.3550 levels. We recommend to go long only above 1.3655 for safe traders' targets at 1.366, 1.3680 and 1.3715 levels. Strong momentum is only above 1.3680 for 1.3735 and 1.3750.
RECOMMENDATIONS- cmp 1.3644.
Safe traders- buy above 1.3655.
Risky traders can buy at cmp 1.3644 for targets 1.3680 and 1.3715.
Sell below 1.3585 for 1.3565, 1.3550, 1.3477 and 1.34.

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

 

[bhanu545]

Technical analysis of GBP/USD for May 27, 2014

Show full picture Overview: Today, the market has been in downtrend since morning and started dropping form the level of 1.6880. Also, it should be noticed that the price of the GBP/USD pair opened below the weekly resistance 1 at the level of 1.6880. Additionally, the double top sets at 1.6920. Therefore, the market will probably indicate a bearish opportunity at the level of 1.6850 or/and 1.6880 in the short term. According to the previous events, the price is going to move between the price of 1.6860 and the 1.6780 price. Thenceforward, the area below 1.6860 (the weekly resistance 1) looks for further downside with the first target at the 1.6870 level and continue towards 1.6780 in order to test the weekly support in H1 chart. However, the stop loss should be placed at the price of 1.6940 (note: the double top sets at 1.6920).

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

 

[bhanu545]

Technical analysis of EUR/USD for May 28, 2014

Overview: The EUR/USD pair has already formed a strong resistance level of 1.3707. This level had already the last weekly pivot point, but this week is coinciding with the ratio of 78.6% Fibonacci retracement levels. Additionally, after it could not close above 1.3660 (the weekly pivot point for 26-30 May, 2014) and the pair started signing for bearish market at this spot. Therefore, the pair will be in a downside momentum rather convincing and the structure of the fall looks is not corrective, in order to indicate a bearish opportunity below 1.3700 or 1.3660 for that it will a good sign to sell below this area with the first target of 1.3615 to test the double bottom in H1 and its chart will call for downtrend in order to continue bearish towards 1.3585 (weekly support one). However, it should be noted that the price has still been moving between 1.3660 and 1.3615. So, we expect a range of 70 pips on May 28, 2014.

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

 

[bhanu545]

Technical analysis of GBP/USD for May 28, 2014

Trading recommendations: The weekly pivot point of the GBP/USD pair has set at the level of 1.6850. This level is acting as strong resistance and the minor resistance has set at 1.6780 today. Therefore, the first key level will set at the level of 1.6850 and the second key level will set at the 1.6780 level on May 284, 2014. Equally important, the price of the GBP/USD pair has still been moving between 1.6803 and 1.6770. Also, it should be noted that the range was about 65 pips yesterday. Furthermore, the trend was very clear and was indicating in downtrend. Accordingly, we expect that the trend is going to call for a bearish market at the level of 1.6780 in H1 chart (sellers are asking for a high price). As a result, sell at the price of 1.6780 with the target of 1.6731 (the daily support). On the other hand, your stop loss should be placed above the 1.6850, thus it will be helpful to set it at the price of 1.6883.
Notes:
Resistance sets at 1.6850 and minor resistance sets at 1.6780.
We expect a range of 75 pips today.
Volatility: 121.41

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for May 29, 2014

Previously, the depicted uptrend line (the blue trendline) 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 1.3880. The recent established bottom around 1.3810 could achieve higher value above 1.3880. The bulls topped at 1.3950. However, these levels corresponded to the upper limit of the ongoing bullish channel which applied significant bearish reaction. A strong corrective movement towards 1.3850 and 1.3800 was executed immediately as expected. This led again towards 1.3770 and cleared the way towards 1.3690 ( previous prominent bottom ). The next DEMAND level to meet the pair is located around 1.3560 where the previous prominent bottom was established in February. For the bulls, the price zone of 1.3560-1.3520 may offer a good BUY opportunity with stop loss located below 1.3500. If so, this bullish corrective movement will be targeting at 1.3690-1.3710. On the other hand, success of the bulls to fixate above 1.3640-1.3650 ( recent broken bottoms ) threatens the bearish sentiment of the market allowing extension of the bullish targets towards 1.3690-1.3700.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for May 29, 2014

The pair has established recent support zone between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern. The depicted BLUE uptrend line remained intact since it was established in November 2013. However, this time the bulls failed to achieve a higher high above the recent one around 1.6995. Moreover, the bears broke-down this trend line challenging the recent bottom around 1.6730 which was established in mid March. On the 4H chart, strong bearish rejection was expressed off 1.6920 leading to bearish breakdown of the depicted bullish channel as well as successive previous support levels now acting as resistance. Moreover, four-Hour closure below 1.6825- 1.6800 gathered enough bearish momentum to push towards the prominent support level around 1.6750. The long-term perspective remains bearish aiming to form another bearish limb that would extend below 1.6730 ( the most recent bottom ). This expected bearish impulse is probably targeting at 1.6650 ( previous ascending top ). Around 1.6650, price action should be watched then for a possible bullish corrective movement.

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

 

[bhanu545]

Technical analysis of EUR/USD for May 30, 2014

Overview: The price of EUR/USD pair will move between 1.3660 and 1.3585 today. We expect a new range about 81 pips as maximum today (the risk of 53 pips must make a profit of 81 pips). Moreover, it should be noticed that the key level is set at the level of 1.3660. Equally important, the value of 50% Fibonacci retracement levels is 1.3660 in H1 chart. Also, it should be noted that this level is coinciding with the weekly pivot point. Therefore, it will be a good sign to sell below the weekly pivot point (1.3659) with the first target of 1.3610. It will call for downtrend in order to continue its bearish movement towards 1.3585 in order to test the double bottom. On the other hand, the stop loss should never exceed your maximum exposure amounts, thus the stop loss should be placed above the price of 1.3659 because the level of 1.3659 will confirm the bullish market. Please, note that the daily volatility on May 30, 2014 is 122.17. As a rule, the market is highly volatile if the last day had a huge volatility.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for May 30, 2014

The pair has established a recent support zone between 1.6765 and 1.6815 during February and March. These levels correspond to the previous tops in a successful Double Top pattern. The depicted BLUE uptrend line remained intact since it was established in November 2013. However, this time the bulls failed to achieve a higher high above the recent one around 1.6995. Moreover, the bears broke-down this trend line challenging the recent bottom around 1.6730 which was established in mid March. On the 4H chart, strong bearish rejection was expressed off 1.6920 leading to bearish breakdown of the depicted bullish channel as well as successive previous support levels now acting as resistance. Moreover, four-Hour closure below 1.6825- 1.6800 gathered enough bearish momentum to push towards the prominent support level around 1.6750. The long-term perspective remains bearish aiming to form another bearish limb that would extend below 1.6730 ( the most recent bottom ) as long as the bears keep defending this resistance level. This expected bearish impulse is probably targeting at 1.6650 ( previous ascending top ). Around 1.6650, price action should be watched then for a possible bullish corrective movement.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 02, 2014

When the European market opens, some economic news will be released such as German Prelim CPI m/m, Spanish Manufacturing PMI, Italian Manufacturing PMI, Final Manufacturing PMI.The US will release economic data too such as the Final Manufacturing PMI, ISM Manufacturing PMI, Construction Spending m/m, ISM Manufacturing Prices, so amid the reports, EUR/USD will move with low to medium volatility during this day.
TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3693. Strong Resistance:1.3685. Original Resistance: 1.3672. Inner Sell Area: 1.3659. Target Inner Area: 1.3627. Inner Buy Area: 1.3595. Original Support: 1.3582. Strong Support: 1.3569. Breakout SELL Level: 1.3561.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3582 and 1.3672. The rate is accompanied by strong support at 1.3569 and by 1.3685 as strong resistance. If EUR/USD breaks out and closes below the 1.3561 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3693 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 1.3595 and at 1.3659, a SELL position. In this case both targets should be placed at the level of 1.3627.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for June 2, 2014

The recent congestion zone between 1.6765 and 1.6815 was established during February and March. These levels correspond to the previous tops in a successful Double Top pattern. The depicted BLUE uptrend line remained intact since it was established in November 2013. However, this time the bulls failed to achieve a higher high above the recent one around 1.6995. Moreover, the bears broke-down this trend line challenging the recent bottom around 1.6730 which was established in mid March. On the 4H chart, strong bearish rejection was expressed off 1.6920 leading to bearish breakdown of the depicted bullish channel as well as successive previous support levels now acting as resistance. The expressed bearish momentum enhances the bearish side of the market especially at retesting of recently broken support levels as taking place today. The long-term perspective remains bearish aiming to form another bearish limb that would extend below 1.6730 ( the most recent bottom ) as long as the bears keep defending this resistance level.This expected bearish impulse is probably targeting at 1.6650 ( previous ascending top ). Around 1.6650, price action should be watched then for a possible bullish corrective movement.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 3, 2014

Trading recommendations:
The EUR/USD pair is in the short term. The price of the EUR/USD pair is going to turn to bullish sentiment from the level of 1.3585. Addendum, it should be noted that the level of 1.3585 is representing a double bottom today. Accordingly, it will be a good sign to buy above the double bottom at 1.3585 with the first target of 1.3629 to test the weekly pivot point at this area. Then, if the price breaks the weekly pivot point, it will call for uptrend market in order to continue its bullish movement towards 1.3670 (the weekly resistance 1). Equally important, the resistance would set at the 1.3672 level. Additionally, it should be noted that the range today will be about 60 pips.
However, the stop loss should be placed below the double bottom at the price of 1.3545, so the stop loss should be set in 40 pips since the risk of 40 pips could make profit of 60 pips.

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

 

[bhanu545]

Technical analysis of GBP/USD for June 3, 2014

Overview: The market showed the signs of instability and the trend movement was controversial as it took place in the narrow sideways channel. Due to the previous events, the price of GBP/USD pair is still between the levels of 1.6710 and 1.6775. Thus, it will very profitable to buy at the level of 1.6730 with the first target at the 1.6780 price, then It will call for uptrend in order to continue its bullish movement towards 1.6850 in order to test this strong resistance. But, the stop loss should be placed at the level of 1.6660. Also, it should be noted that the price of 1.6826 is going to coincide with the ratio of 61.8% Fibonacci retracement levels in H4 chart) double bottom in H4 chart. Notwithstanding, if the trend fails to close above the level of 1.6850, it will a good sign to sell at this level in the short term with targets at 1.6810, then it is going to continue towards the 1.6769 price to float around the weekly pivot point of the pair today .

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for June 4, 2014

The recently established bottom around 1.3810 could achieve higher value above 1.3880. The bulls topped at 1.3950. However, these levels corresponded to the upper limit of a bullish channel which applied significant bearish reaction. A strong corrective movement towards 1.3850 and 1.3800 was executed immediately as expected. This led again towards 1.3770 and cleared the way towards 1.3690 (previous prominent bottom ). The next DEMAND level to meet the pair is located around 1.3560 where the previous prominent bottom was established in February. However, the bears are weak enough not to reach it. For the bulls, the price zone of 1.3560-1.3520 may offer a good BUY opportunity with stop loss located below 1.3500. If so, this bullish corrective movement will be targeting at 1.3690-1.3710. On the other hand, success of the bulls to fixate above 1.3640-1.3650 ( recent broken bottoms ) threatens the bearish sentiment of the market allowing extension of the bullish targets towards 1.3690-1.3700 and possibly 1.3750 where the most prominent demand level is located. Thus, a bullish breakout above 1.3650 signals a possible bullish position with SL located just below 1.3600 with the previously mentioned bullish targets.

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