Technical analysis on EU,GU and majors

[bhanu545]

Technical analysis of GBP/USD for June 18, 2014

The cable started moving towards the south from 1.7011 levels. We recommended to go long only above 1.7045 or hold shorts with sl 1.7043. The pair moved towards 23.6 fib level (from 1.6699 to 1.7011). In Asia's session, the pair faces resistance at 1.6967 (21 Hr Sma), 1.6980 (35 H Dema) and 1.6994 levels. On the down side, it has support at 1.6938 levels. Bears will be back on track below 1.6938 for 1.6922, 1.6915 and 1.69 (34 Hr Sma), 1.68 and 1.6780 levels. This bearish view is valid with sl 1.7043 levels. On the up side, once the pair crosses 1.7045, it can fly up to 1.7068, 1.71 and 1.7140 levels.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 19, 2014

TODAY's TECHNICAL LEVELS:
Breakout BUY Level: 1.3654.
Strong Resistance:1.3646.
Original Resistance: 1.3633.
Inner Sell Area: 1.3620.
Target Inner Area: 1.3588.
Inner Buy Area: 1.3556.
Original Support: 1.3543.
Strong Support: 1.3530.
Breakout SELL Level: 1.3522.
DESCRIPTION:
Today EUR/USD has support and resistance at 1.3543 and 1.3633. The rate is accompanied by strong support at 1.3530 and by 1.3646 as strong resistance. If EUR/USD breaks out and closes below the 1.3522 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3654 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 1.3556 and at 1.3620, a SELL position. In this case both targets should be placed at the level of 1.3588

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

 

[bhanu545]

Technical analysis of GBP/USD for June 19, 2014

Overview:
The GBP/USD pair opened above the support which represents the weekly pivot point at the level of 1.6900. Additionally, the market was in uptrend two days ago. Also, it should be noticed that the price has already broken all Fibonacci retracement levels. Therefore, the market will probably indicate a bullish opportunity at the level of 1.6991 (the double top sets at the level of 1.6991). So, according to the previous events, the price has still been moving between the price of 1.6990 and the 1.6750 level in the short term. Thenceforward, the area above 1.6990 (above the the ratio of 100% Fibonacci retracement level in H1 chart) looks for further upside with the first target at the 1.7040 level in order to form to test the weekly resistance 2 and continue towards 1.7073. However, the stop loss should be placed at the price of 1.6961.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 20, 2014

Today EUR/USD has support and resistance at 1.3563 and 1.3653. The rate is accompanied by strong support at 1.3550 and by 1.3666 as strong resistance. If EUR/USD breaks out and closes below the 1.3542 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3674 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 1.3576 and at 1.3640, a SELL position. In this case both targets should be placed at the level of 1.3608.

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

 

[bhanu545]

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

Successive bottoms around 1.6465 and 1.6555 (corresponding to the depicted uptrend line) prevented further bearish decline and provided enough buying pressure to keep pushing higher. However, the bullish momentum wasn't strong enough to allow the bullish breakout above 1.7000 to pursue towards further targets. Instead, this previous breakout lost its bullish momentum showing successive lower highs that temporarily managed to breakdown the depicted uptrend line. Again last week, the GBP/USD pair showed bullish recovery around 1.6690 which was followed by strong bullish pressure being applied. This pushed the pair again towards retesting of 1.6980-1.7000 (prominent top established on May 6). If the bears keep preventing any bullish breakout above 1.7000, the pair will have obvious targets around 1.6900 initially then 1.6850 to be followed (depicted on the 4H chart).

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

 

[bhanu545]

Weekly technical levels of EUR/USD for June 23-27, 2014

Trading recommendations: The EUR/USD pair is still moving between 1.3615 and 1.3563. Thus, it should be noted that the weekly pivot point will set at the level of 1.3581. Right now, the current price is around the level of 1.3581. Moreover, the weekly point has already formed a psychological level at this area. Therefore, buy at the level of 1.3527 (the weekly support one) with the first target at the 1.3592 price (the level of 1.3592 is representing the ratio of 61.8% Fibonacci retracement levels) , then it will call for uptrend in order to continue its bullish movement towards 1.3642 to test the double top in H1 chart. Notwithstanding, the stop loss should be placed at the level of 1.3503. If the trend fails to close above the level of 1.3636, it will a good sign to sell at this level in the short term with targets at 1.36, then it is going to continue towards the 1.3580 price.

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

 

[bhanu545]

GBP/USD intraday technical levels and trading recommendations for June 23, 2014

Bullish breakout above the depicted bearish channel took place thus exposing price levels around 1.6985 as a projection target.
Simultaneously, daily closure above 1.6820 took place enhancing bullish impulse towards 1.6900 and 1.7000.
The GBP/USD bulls are now challenging Psychological resistance around 1.7000 which got visited before on May 6 when extensive bearish pressure was applied then.
Note the daily candlestick of Thursday when the bulls managed to close above 1.7000.
This threatened the bullish sentiment of the market. However, the bulls are not showing enough bullish follow-through at such important levels.
A bearish corrective movement is not excluded to occur towards 1.6830-1.6860 provided that the recent high around 1.7000 gets broken-down again by significant bearish pressure.
Price levels of 1.6860 constitutes a significant support level to meet the pair on its way downwards.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 24, 2014

Today EUR/USD has support and resistance at 1.3555 and 1.3645. The rate is accompanied by strong support at 1.3542 and by 1.3658 as strong resistance. If EUR/USD breaks out and closes below the 1.3534 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3666 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 1.3568 and at 1.3632, a SELL position. In this case both targets should be placed at the level of 1.3600.

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

 

[bhanu545]

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

Bullish breakout above the depicted bearish channel took place thus exposing price levels around 1.6985 as a projection target. Simultaneously, daily closure above 1.6820 took place enhancing bullish impulse towards 1.6900 and 1.7000. The GBP/USD bulls are now challenging Psychological resistance around 1.7000 which got visited before on May 6 when extensive bearish pressure was applied then. Note the daily candlestick of Thursday when the bulls managed to close above 1.7000.This threatened the bullish sentiment of the market. However, the bulls are not showing enough bullish follow-through at such important levels. A bearish corrective movement is not excluded to occur towards 1.6830-1.6860 provided that the recent high around 1.7000 gets broken-down again by significant bearish pressure. Price levels of 1.6860 constitutes a significant support level to meet the pair on its way downwards.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 25, 2014

Today EUR/USD has support and resistance at 1.3559 and 1.3649. The rate is accompanied by strong support at 1.3546 and by 1.3662 as strong resistance. If EUR/USD breaks out and closes below the 1.3538 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3670 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 1.3572 and at 1.3636, a SELL position. In this case both targets should be placed at the level of 1.3604.

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

 

[bhanu545]

Technical analysis of GBP/USD for June 25, 2014

The resistance of the GBP/USD pair has been already set at the level of 1.7075, but the weekly pivot point sets at the level of 1.7000. In our opinion, we expect a range bewteen the levels of 1.6935 and 1.7075 in coming time. Therefore, according to the previous events, the prices is going to move between 1.6930 and 1.7050 today. Then it should be noted that the range today will be around 68 pips. Consequently, the trend in H1 time frame is calling for a bullish market at the level of 1.6935. Hence, above the level of 1.6090 it looks for further upside move with targets at 1.6999 and 1.7062 today. The level of 1.7062 will act as a double top in H1 chart. On the other hand, sell below the weekly resistance one at the level of 1.7075 with the first target at 1.7010; it might resume to 1.6940 in order to test the strong support around the area of 1.6835.

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

 

[bhanu545]

Technical analysis of for EUR/USD for June 26, 2014

1. The EUR/USD pair has been consolidating between 1.3670 and 1.3500 since several trading sessions, as seen here. The pair could still complete its counter trend towards 1.3750/1.3800 levels if prices manage to break above 1.3670. Selling on rallies is recommended trading strategy. 2. Support is seen around 1.3500 (interim), followed by 1.3470 and lower, while resistance is seen at 1.3670 (interim), followed by 1.3750/1.3800 (fibonacci), and 1.4000 respectively. 3. The structure indicates that EUR/USD is in a broader bearish formation. A reversal is awaited either from current levels or 1.3750 levels.

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

 

[bhanu545]

Technical analysis of GBP/USD for June 26, 2014

1. A 4H chart view has been presented here and the GBP/USD pair is seen to be bouncing off trend line resistance. Please also note that fibonacci 0.618 retracement is also around the 1.7020/30 levels and a reversal here could bring back bears in control.2. Support is seen at 1.6920, followed by 1.6800, 1.6740 and lower while resistance is seen at 1.7050/60 respectively. 3. The structure indicates that GBP/USD could remain in control of bears till prices stay below 1.7050 levels.

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

 

[bhanu545]

Technical analysis of EUR/USD for June 27, 2014

Trading recommendations: According to the previous events, the price of EUR/USD pair is going to move between the level of 1.3584 and 1.3675. The market was in uptrend. Moreover, the trend was so clear because the price moved lower to 1.3584 (the weekly pivot point); but the price of EUR/USD pair has been rebounding higher towards the level of 1.3620. Also, note that we expect a range of 73 pips today and the level of 1.3584 will act as a key level to confirm the bullish market. Buy above the level of 1.3584 (1.3577: 50% of Fibonacci retracement levels), with the first target of 1.3642 in order to form a double top in H1 chart, it might resume to the 1.3675 price (the weekly resistance one). Conversely, the price may close below 1.3677 (127.2% of Fibonacci retracement levels) in H1 chart. Consequently, the price will call for a bearish market to go further towards the level of 1.3640. However, it should be noted that the stop loss should never exceed your maximum exposure amounts.

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

 

[bhanu545]

Technical analysis of GBP/USD for June 27, 2014

Trading recommendations: The resistance of the GBP/USD pair is set at the level of 1.7075 and the support has already been placed at the 1.6935 level. So, according to the previous events, the price of GBP/USD pair is going to move between the level of 1.7075 and 1.6935. Consequently the market will indicate a bearish opportunity below 1.7075, because the level of 1.7075 is going to act as strong resistance, as well as it is representing the weekly resistance one on June 27, 2014. Therefore, it will be a good sign to sell below this level today with the first target of 1.6999 in order to test the weekly pivot point in H1 chart. Equally important, if the trend succeeds to close below 1.6999, then the market will be continuing in downtrend below the weekly pivot point towards the level of 1.6935. But the stop loss should be borne in mind for that you should place it above 1.7075 at the price of 1.7093.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on EUR/USD for June 30, 2014

The price zone 1.3800-1.3880 (dotted on the chart) provided considerable SUPPLY for the EUR/USD pair. This price zone managed to pause the bullish momentum that originated off the depicted bullish trend line.
Thus, a Double Top reversal pattern was established with a neckline located at 1.3700. This reversal pattern has already hit its projection levels.
On the other hand, we should highlight Thursday and Monday's bullish engulfing daily candlesticks which emerged off 1.3500 (the lower limit of the ongoing 4H channel) thus fixating again above 1.3560 (Key-Level corresponding to previous prominent bottom).
Again, the market expressed a strong bullish daily candlestick when price level 1.3570 got visited last time.
Multiple ascending bottoms were established after hitting 1.3500 during June. That's why, as expected, bullish recovery originated off these levels resulting in the current bullish momentum.
As long as the bulls keep defending the recent low around 1.3575 considering the possibility of a bullish Head and Shoulders pattern with neck-line around 1.3650 with a breakout projection target to be anticipated around 1.3750.

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

 

[bhanu545]

Intraday technical levels and trading recommendations on GBP/USD for June 30, 2014

Bullish fixation above 1.7000 enhances the bullish channel scenario, thus enabling the bulls to reach 1.7100 and probably 1.7130 before bearish correction takes place.
The current price zone between 1.7100 - 1.7130 should be watched for bearish price action indicating reversal.
It should constitute a significant SUPPLY zone as it corresponds to the upper limit of the depicted channel.
A short position can be triggered at the current levels with stop loss located above 1.7160.
Bearish targets should be located at 1.7055 and 1.7000.

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

 

[bhanu545]

Technical analysis of EUR/USD for July 1, 2014

Overview: The EUR/USD's resistance was broken and it turned to support around the area of 1.3624 since last week. Thus, the pair has already formed strong support at 1.3624. Also, it should be noted that the weekly pivot point is going to set at the same level on July 1, 2014. But a minor support will be set at the level of 1.3655. Moreover, it could not close below 1.3619 (23.6% Fibonacci retracements levels) and started indicating a bullish market. Additionally, the price has been placed above 23.6% Fibonacci for three or four days. Futhermore, it should also be noticed that the price has still been trapped between 50% Fibonacci retracement levels and 23.6%. Equally important, the RSI and the moving average (50, 75, 100) are still calling for uptrend. Therefore, the market indicates a bullish opportunity at the level of 1.3624 in H1 or H4 chart with the first target of 1.3700, and continues towards 1.3740. On the other hand, if the price closes below the minor support then the best location for placing a stop loss should be below 1.3616. So, the price will fall into the bearish market in order to go further towards the strong support at 1.3587 to test it again. However, the resistance for June 1, 2014 will be set at the level of 1.3751. Hence, it will be wisdom to sell at this level with the first target at the 1.3675 level, and it will continue towards 1.3624 (the weekly pivot point).

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

 

[bhanu545]

Technical analysis of GBP/USD for July 1, 2014

Trading recommendations: The GBP/USD pair in the short term. The resistance has already set at the level of 1.7124 and the support has placed at 1.7077 on July 1, 2014.
So, according to the previous events, the price has still been trapped between 1.7103 and 1.7080, then it should be noted that the range will be around 50 pips today.
Consequently, the trend in the H1 time frame is calling for a bearish market at the level of 1.7077.
Hence, below the price of 1.7077 look for further downside move with targets at 1.7110, if it can break the support for today (1.7110), thus the price will continue towards 1.7073.
On the other hand, buy above 1.7073 in the short term of the same day with the first target at 1.7130; it might resume to 1.7164 tomorrow in order to test the strong resistance of this week.

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

 

[bhanu545]

Technical analysis of EUR/USD for July 02, 2014

Todays technical levels:
Breakout BUY Level: 1.3748.
Strong Resistance:1.3739.
Original Resistance: 1.3726.
Inner Sell Area: 1.3713.
Target Inner Area: 1.3680.
Inner Buy Area: 1.3647.
Original Support: 1.3634.
Strong Support: 1.3621.
Breakout SELL Level: 1.3612.
Description:
Today EUR/USD has support and resistance at 1.3634 and 1.3726. The rate is accompanied by strong support at 1.3621 and by 1.3739 as strong resistance. If EUR/USD breaks out and closes below the 1.3612 level today, then it will indicate considerable bearish strength. Meanwhile, if EUR/USD manages to break out and closes above the 1.3748 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 1.3647 and at 1.3713, a SELL position. In this case both targets should be placed at the level of 1.3680.

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