Technical analysis on EU,GU and majors

[bhanu545]

The spot rate is presently testing the upper limit of its medium term bearish channel in the point 1.3480 and is expected to initiate a decline. However, a breakdown of these levels will reveal significant potential enabling the beginning of the bullish trend.

Technical indicators provide signals for BUY-deals but located near the overbuy zone indicating the prospective decline. For the last days Bollinger bands have greatly tightened. This fact can be considered as a sign of decline in volatility and beginning of violent movement.

According to the previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance level 1.3480 with the 1st objectives seen at the 1.3540 level and further at the 1.3560 level. In case the level 1.3460 is passed through, the supposed scenario will be cancelled.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5940 and seems to initiate a decline. However a break through these levels will free up significant potential and initiate a bullish trend.

Technical indicators provide sell-signals and are approaching to the overbuy zone supporting the assumptions of a decline. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market may indicate a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5940 with the 1st objective of 1.6000, then 1.6020. A break in 1.5920 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3490 and seems to initiate a decline. However a break of these levels will free up significant potential and initiate a bullish trend.

Technical indicators provide sell-signals and are approaching to the overbuy zone supporting the assumptions of a decline. Bollinger bands are much discarded as a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance in 1.3490 with the 1st objective of 1.3550, then 1.3580. A break through 1.3470 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

GBP/USD Survey according to the Linear Regression Channels over the past two weeks:

- GBP/USD respected the upper limit of both channels depicted on the chart which showed bearish presence pushing the pair down to 1.5802. However, Price came back quickly to break this channel with quite strong bullish 4H candlestick.

- After failure to trade below 1.5800, GBP/USD pair directed towards 1.5925 which is corresponding to the upper limit of the bullish blue channel & still trading around the same level.

- GBP/USD showed quite strong bearish rejection on testing the high for this month at 1.5927 & failed to bypass its strong resistance area at 1.5940-1.5960.

This will probably delay further bullish movement and push the pair down to 1.5860-1.5840.

- Broken limit of the violet channel at 1.5850 is now acting as support level for the pair.

4H closure above 1.5960 allows the pair to reach 1.6050.

The 1H chart of GBP/USD shows that the pair has an important support level at 1.5900 which is the lower limit of both the Violet & Yellow channels.

This price level 1.5900 is significant as Bullish Price Action towards it pushes the pair to the upside reaching 1.5950 initially.

Break of this level will allow the pair to reach 1.5850 which is corresponding to the lower limit of the Yellow bullish channel which constitutes an important support for the pair today.

We should pay attention as the 1H chart shows some bullish weakness unlike the 4H chart which is still bullish as long as the pair is trading above 1.5850.

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

TODAY's TECHNICAL LEVEL :

Breakout BUY Level : 1.3399.
Strong Resistance : 1.3392.
Original Resistance : 1.3379.
Inner Sell Area : 1.3366.
Target Inner Area : 1.3335.
Inner Buy Area : 1.3304.
Original Support : 1.3291.
Strong Support : 1.3278.
Breakout SELL Level : 1.3270.

DESCRIPTION :

Today EUR/USD has support and resistance at 1.3291 and 1.3379 and is accompanied by strong support at 1.3278 and by 1.3392 as strong resistance.

If EUR/USD breaks out and closes below a 1.3270-level today, then this will indicate considerable bearish strength, while if EUR/USD manages to break out and close above a 1.3399-level, then this will denote high bullish strength. Alternatively, you can trade in a way to open a BUY position at the level of 1.3304, and at 1.3366– a SELL position, in this case both targets should be located at the level of 1.3335.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

Presently the spot rate is testing the upper limit of its medium term bullish channel in the point 1.5990 and is expected to decline. However, the breakdown of these levels will reveal significant potential initiating a more violent bullish trend .

Technical indicators provide signals for Sell-deals. This fact confirms the possibilty of a decline that is expected to take place in the nearest future. For the last days Bollinger bands have significantly tightened indicating a decline in volatility and the beginning of the violent movement.

Considering the previous situation, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance level 1.5990 with the 1st target seen at the 1.6050 level and further at the 1.6070 level. If the level 1.5970 is passed through, the prospect scenario will be cancelled.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.3330 suggesting a decline. However a break of these levels will allow it to reach the upper limit of its channel - 1.3440.

Technical indicators provide sell-signals but are approaching to the oversell zone suggesting a rebound. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.

According to previous events, the market will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 1.3330 with the 1st objective of 1.3390, then 1.3410. A break through 1.3310 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[YES]

The EUR/USD looks severely oversold. I think there'll be some kind of correction before another down- leg.

[bhanu545]

The spot rate is currently testing the intermediate support of its medium term bullish channel in the point 1.5780 indicating a possible rebound. However, in case these levels are passed through, the rate is expected to return to the lower limit located in the point 1.5710.

Technical indicators don not provide clear signals but their location close to the oversell zone indicates a rebound. Bollinger bands are considerably discarded resulting from the strong decline that took place these days. The situation is likely to stabilize soon.

Proceeding from the previous situation, the market will show bullish opportunity at 1.5780 level with the 1st targets seen at 1.5840 and 1.5860 levels. If the1.5760 is broken down, the prospect scenario will be changed.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.3150 indicating a rebound. However, if these levels are broken down, the rate will decline to the lower limit of the to 1.2390 level.

Technical indicators provide signals for BUY-deal, indicating the assumption of a rebound that is expected soon. For the last days Bollinger bands have significantly tightened showing a decline in volatility and the imminence of a violent movement.

According to the previous events, the market indicates a bullish opportunity at 1.3150 level with a 1st objective seen at 1.3210 and 1.3230 levels. A breakdown of the 1.3130 level will reverse this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012