Technical analysis on EU,GU and majors

[bhanu545]

The spot rate is currently testing the intermediate resistance of its medium term bullish channel in 1.5980 and is expected to decline. However, a breakdown of these levels will allow to reach the upper limit of its channel in the point 1.6080.

Technical indicators provide signals for Buy-deals but as the resistance remains unbroken, the assumption of a decline is relevant. 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 indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.5980 with 1.6040 and 1.6060 seen as first objectives. A breakdown in 1.5960 will reverse this scenario.

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 1.3080 indicating a possible rebound. However, a breakdown of these levels will entail a decline to its lower limit in the point 1.2980.

Technical indicators provide sellers signals but approaching to the oversell zone confirms the assumption of 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 indicates a bullish opportunity at levels of 1.3080 with 1.3140 and 1.3160 seen as first objectives. In case the level 1.3060 has been passed through, the proposed scenario will be reversed.

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 bullish channel at 1.6090 and seems to initiate a decline. However, a break through these levels will release good potential and initiate a violent bullish trend.
Technical indicators provide sell-signals and until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded in the result of a strong increase these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity as soon as the spot rate has broken through its resistance of 1.6090 with the 1st objective at 1.6150 and then at 1.6170. A break through 1.6070 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 1.3140 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.
Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. 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 offer a bullish opportunity as soon as the spot rate has broken its resistance at 1.3140 with the 1st objective at 1.3200 and further at 1.3220. A break through 1.3120 will invalidate this scenario.

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

[bhanu545]

Wave marking analysis:
Yesterday during the Asian session the GBP/USD pair has failed to test the point 1.6060 and remained within the quite narrow range. Considering that the pair has developed the inner wave dimension of the ascending part of the trend beginning since April 16, the price will probably drop to the point 1.5950. At the same time concerning the length of the wave 1 and 3 it is necessary to keep in mind that the wave 5 in 3 will be more complicated and quotes will reach the measured targets located in the area of figure 61.

Targets for the wave 3 option:
1.6095 – 161.8% according to Fibonacci

Targets for the wave 4 option:
1.5979 – 38.2% according to Fibonacci
1.5949 – 50.0% according to Fibonacci
1.5918 – 61.8% according to Fibonacci

General conclusions and trading recommendations:
At the moment the wave marking has been changed: presently the current part of the trend can be attributed to the new 5-wave structure. Also the wave 3 is probably forming. The intermediary targets for this wave is seen at the 1.6095 Fibonacci level which is equal to 161.8% of Fibonacci. If the current wave marking is true, when the wave 3 has been developed (MACD divergence/convergence will indicate the end of this wave), the quotes are likely to decline within the wave 4 with 1.5979, 1.5949 and 1.5918 seen as targets.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.3170 indicating a possible decline. However, a breakdown of these levels would allow to reach the its upper limit at level 1.3280.

Technical indicators do not provide clear signals but as the resistance is unbroken, the assumption of a decline remains relevant. 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 indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.3170 with 1.3240 and 1.3260 seen as first objectives. A breakdown in the point 1.3150 will reverse this scenario.

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

[bhanu545]

Considering the GBP/USD Linear Regression Hourly chart, we can observe a narrow-ranged bullish violet channel indicating the bullish strength of Friday's movement.

Yellow & Blue channels depicted above are less bullish than the violet one, indicating the prevailing bullish domination during the last week.

Today at earlier time, the GBP/USD could breakdown the lower limit of all the depicted channels indicating weakness of the bulls today. Hence, the Intraday view for the GBP/USD pair is bearish for today.

Price zone 1.6100-1.6110 which corresponds to the backside of the Yellow & Blue channels and previous broken buttoms is expected to initiate a bearish movement after retesting so it is considered as a valid Intraday SELL entry with SL located above 1.6160.

TP levels are to be located at 1.6070, 1.6005 & 1.5965.

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

[bhanu545]

The spot rate has broken the intermediate resistance of its medium term bearish channel in 1.3160 resuting in acceleration. A pull back on these levels is expected before the resumption of the bullish mood and reaching the upper border of this channel in the point 1.3290.

Technical indicators provide sellers signals confirming a possible pull back in the nearest future. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of violent movement.

According to previous events, the market indicates a bullish opportunity at levels of 1.3160 with 1st objectives seen at 1.3220 and 1.3240 levels. In case the level 1.3140 is passed through, the prospect scenario will be cancelled.

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

[bhanu545]

Data on retail sales released on Friday has influenced positively on the British Pound, as the volume of retail sales in March increased by 1.8% compared to the growth forecast of 0.4%. Overcoming expectations .

On a technical level we can say that the pound is remaining within its upward trend, although the MACD indicators shows the overbought. The levels 1.6180 and 1.6236 are the next resistances.

Given that the pair should give a correction technique, we recommend selling on the resistance levels of 1.6180 with targets up to the 32.8% Fibonacci retracement.

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012

[bhanu545]

The spot rate is presently testing the upper limit of its medium term bearish channel in 1.3230 and is likely to decline. However, a breakdown of these levels will reveal significant potential and initiate a bullish trend.

Technical indicators provide signals for buy deals but as long as the resistance level is unbroken, the assumption of a decline is relevant. 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 indicates a bullish opportunity as soon as the spot rate will has broken its resistance in 1.3230 with 1.3290 and 1.3310 seen as first targets. A breakdown in 1.3210 will cancel this scenario.

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