Technical analysis on EU,GU and majors

[ryaron]

Elliot Elliot, Fibonacci, Fibonacci, Voodoo, Voodoo, Pseudo-Science, Pseudo-Science, crap, crap, Bullocks, Bullocks.

[bhanu545]

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.6250. A break of these levels would allow it to reach the upper limit of its channel to 1.6380.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6250 with a 1st objective of 1.6350, then 1.6380. A break in 1.6220 would invalidate this scenario.

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

[bhanu545]

TODAY TECHNICAL LEVEL :

Breakout BUY Level : 1.4446.

Strong Resistance : 1.4437.

Original Resistance : 1.4423.

Inner Sell Area : 1.4409.

Target Inner Area : 1.4375.

Inner Buy Area : 1.4341.

Original Support : 1.4327.

Strong Support : 1.4313.

Breakout SELL Level : 1.4304.


SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4327 and 1.4423 and it has a strong Support at 1.4313 and a strong Resistance at 1.4437; if today the EUR/USD breaks out and closes below 1.4304, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4446, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4341 for LONG trading and the Inner Sell Level at the 1.4409 for the SHORT trading, and all of them with the target at the 1.4375 level.

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

[bhanu545]

The spot rate approaches the intermediate resistance of its medium term bearish channel at 1.4320 and seems to initiate a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4420.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4320 with a 1st objective of 1.4420, then 1.4450. A break in 1.4290 would invalidate this scenario.

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

[bhanu545]

Earlier in a 4-hour graph the GBP/USD has formed Morning Doji Star candlestick combination indicating bullish signal.
This candlestick combination was formed after the pair failed to break the support level 1.5932 which means that the bears could not solidify here. Further the bulls started to increase their influence and a rebound to the upside took place.
Break of the Fibonacci correction level 23.6 will denote that this point of view is correct. In this case we should expect growth to the resistance level 1.6262 where the Fibonacci correction level 50.0 is also located. If the pair fixates above 1.6262, this will target it to 1.6472.
It is worth mentioning that stop loss should be placed slightly below 1.5932 as a break of this support level will allow the pair to reach 1.5750.


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

[bhanu545]

TODAY TECHNCIAL LEVEL :
Breakout BUY Level : 1.4362.
Strong Resistance : 1.4353.
Original Resistance : 1.4340.
Inner Sell Area : 1.4326.
Target Inner Area : 1.4292.
Inner Buy Area : 1.4257.
Original Support : 1.4244.
Strong Support : 1.4230.
Breakout SELL Level : 1.4221.

SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4244 and 1.4340 and it has a strong Support at 1.4230 and a strong Resistance at 1.4340; if today the EUR/USD breaks out and closes below 1.4221, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4362, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4257 for LONG trading and the Inner Sell Level at the 1.4326 for the SHORT trading, and all of them with the target at the 1.4292 level.

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

[bhanu545]

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.6010. A break of these levels would allow it to reach the upper limit of the channel to 1.6160.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6010 with a 1st objective of 1.6110, then 1.6160. A break in 1.5980 would invalidate this scenario.

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

[bhanu545]

The spot rate broke the intermediate resistance of its medium term bearish channel at 1.5980 leading to an acceleration. A pull back on this area is expected before a resumption of bullish to the upper limit of its channel at 1.6160.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5980 with a 1st objective of 1.6110, then 1.6160. A break in 1.5950 would invalidate this scenario.

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

[bhanu545]

The pair is in a bearish channel , it seems to fail to reach the lower limit .

Bullish bounce of the lower limit of the daily triangle and possible double buttom pattern .

Recently the pair broke and closed above the upper limit of the same triangle .

The pair has broken the short term downtrend line .

Now the pair is testing the resistance level 1.4415-1.4420 which is 50% Fibonatcci Retracement level , Recent top and the intermediate trendline drawn in the chart .

It's obvious also that MACD is trending up .

Conclusion :

Retracement is expected from the current resistance level down to 1.4280-1.4320 which will be a good BUY area .

SL : 4H closure below 1.4250 .

TP : 1.4400 , 1.4450 , 1.4500 .

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The spot rate approaches the upper limit of its medium-term bullish channel to 1.4550 suggesting a decline. However a break of these levels would free up significant potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4550 with a 1st objective of 1.4650, then 1.4680. A break in 1.4520 would invalidate this scenario.

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