Technical analysis on EU,GU and majors

[bhanu545]

The spot rate is currently testing the intermediate support of its medium term bearish channel at 1.5920 suggesting a rebound. However a break of these levels would entail a return to the lower limit of the channel to 1.5730.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5920 with a 1st objective of 1.6050, then 1.6080. A break in 1.5890 would invalidate this scenario.

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

[bhanu545]

The spot rate approaches the lower limit of its medium term bearish channel in 1.4130 suggesting a rebound. 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 1.4130 with a 1st objective of 1.4230, then 1.4270. A break in 1.4100 would invalidate this scenario.

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

[bhanu545]

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.6080 and seems to initiate 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 1.6080 with a 1st objective of 1.6170, then 1.6250. A break in 1.6050 would invalidate this scenario.

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

[bhanu545]

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.5850 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.5700.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5850 with a 1st objective of 1.5950, then 1.6000. A break in 1.5820 would invalidate this scenario.

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

[bhanu545]

After breaking its short-term support in 1.4200 the spot rate has accelerated and is currently testing the lower limit of its medium term bearish channel in 1.3930 suggesting a rebound. 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 1.3930 with a 1st objective of 1.4030, then 1.4100. A break in 1.3900 would invalidate this scenario.

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

[bhanu545]

The spot rate approaches the upper limit of its medium term bearish channel in 1.6030 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its long-term bearish channel to 1.6260.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6030 with a 1st objective of 1.6150, then 1.6180. A break in 1.6000 would invalidate this scenario.

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

[bhanu545]

Overview:
Forex market analysis for July 13 shows that at the moment the currency is still observing a sell signal with target level 1.4310, the target level was reached by the price, however, downside movement remains. The formed sell signal is strong and confirmed, since the Chinkou Span fixated below the price graph and the price is below the Ichimoku cloud. At the moment the first target is 1.3984 – the second support level, however, downside trading should be started below this level. If this level is passed the second target will be the second resistance level at 1.3756. Downside movement remains while the price is above the Kijun-sen (1.4100), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearlish sentiment. The Bollinger bands show possible downside movement, the lines are diverging and directed down. The MACD is ascending, which indicates current correction movement, this filter does not allow us to trade up now, but the MACD reverses down it will be a signal to open short positions again.
Trading recommendations:
Currently it is recommended to trade down with target at 1.3756 and further to 1.3984 and 1.3521. Stop Loss should be placed above 1.4100 and stretched down as the Kijun-sen declines. It is recommended to start up trading after the MACD reverses down.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2011

[bhanu545]

The spot rate approaches the intermediate resistance of its medium term bearish channel in 1.4320 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4530.

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 1.4430, then 1.4450. A break in 1.4290 would invalidate this scenario.

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

[bhanu545]

The spot rate broke the upper limit of its short term bearish channel in 1.6030 resulting in an acceleration. A pull back on these levels is possible before a resumption of bullish.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6030 with a 1st objective of 1.6150, then 1.6180. A break in 1.6000 would invalidate this scenario.

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

[bhanu545]

The euro reached the mentioned supply levels and after this the pair started to correct. At the moment the currency is correcting above the support levels, therefore we should not expect further decline yet. Among important news I would like to highlight the US CPI data known as inflation barometer due today.
Trading recommendations:
- buy from the mentioned support levels.

Performed by Alexey Portnov, Analytical expert
InstaForex Companies Group © 2007-2011