Technical analysis on EU,GU and majors

[bhanu545]

The spot rates approaches the upper limit of its medium-term bullish channel to 1.6800 suggesting a decline. However a break of these levels would initiate a more violent bullish trend.

According to previous events, the market indicates a bearish opportunity on the levels of 1.6800 with a 1st objective of 1.6690, then 1.6650. A break in 1.6830 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The EUR/USD is now trading between the Upper Bollinger Bands periode 20 Dviation 2 and the periode 20 Deviation. 1 (the blue lines), and the RSI (14) is still above the 60 levels, and the ADX(14) above the 25 level. All these things denote that the EUR/USD has a Healthy Bullish Trend for a few days. However we have two scenarios after the Royal Weeding of the prince William and Kate Middleton today :

First Scenario :

The EUR/USD will advance the Bullish movement and will test yesterday high at the 1.4881, if it can break it, this pair will test again the mark 1.4900.

Second Scenario :

The EUR/USD break the today's low at the 1.4803, if this level can be broken out it will make this pair test the next Support at the yesterday low at the 1.4768.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The spot rate is currently testing the lower limit of its medium-term bearish channel at 1.6590 suggesting a rebound in the short term. However a break of these levels would initiate a bearish trend more violent.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6590 with a 1st objective of 1.6670, then 1.6720. A break in 1.6570 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

In a daily graph the EUR/USD pair met a strong resistance near the 1.4900 level. Nevertheless, after a slight pause we should expect further growth. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4349 as a break of this level will denote that the uptrend is broken.



Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The spot rate approaches the lower limit of its medium-term bullish channel to 1.6430 suggesting a rebound on these levels. However a break of this zone would free a large downside potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6430 with a 1st objective of 1.6580, then 1.6620. A break in 1.6400 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

In a daily graph the EUR/USD pair met a strong resistance near the 1.4900 level. Nevertheless, after a slight pause we should expect further growth. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
On the other hand, if the 1.4750 support level is broken, we should expect a slight correction.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4349 as a break of this level will denote that the uptrend is broken.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The spot rate has rebounded on the lower limit of its medium-term bullish channe at 1.6450 and is currently testing the intermediate resistance of its channel at 1.6590. A break of these levels would reach the upper limit of its medium-term bearish channel to 1.6740.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6590 with a 1st objective of 1.6690, then 1.6740. A break in 1.6560 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

In a daily graph the EUR/USD pair cannot fixate above the 1.4900 level. Nevertheless, after a slight pause we should expect further growth. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
On the other hand, if the 1.4750 support level is broken, we should expect a slight correction.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint.
It is worth mentioning that stop loss orders should be placed slightly below 1.4349 as a break of this level will denote that the uptrend is broken.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

In a daily graph the EUR/USD is demonstrating a correction after the pair could not fixate above the 1.4900 level. Nevertheless, the uptrend is still in advance. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
On the other hand, if the 1.4750 support level is broken, we should expect a slight correction.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint.
It is worth mentioning that stop loss orders should be placed slightly below 1.4349 as a break of this level will denote that the uptrend is broken.


Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

Yesterday’s GBP/USD trading confirmed our expectations of a more complicated inner wave structure of the downside movement initiated May 1 to be formed. At the same time, given the fact that the decline of the pound is limited by the 5-wave structure, its targets may be located near yesterday’s low or even lower, near the 1.6255 level. If so, the price might complete the 1st wave (or A) near the above mentioned levels and start a rollback to the upside in the direction of the 65 figure.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011