Technical analysis on EU,GU and majors

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-14

The spot rate broke the intermediate support of its medium term bullish channel in 1.3180 leading to an acceleration. A pull back on these levels is expected before a resumption of bearish.

RSI provides sellers with signals but is approaching to the oversell zone suggesting a rebound. Bollinger bands are stabilized showing a more regular volatility.

According to previous events, the market indicates a bearish opportunity on the levels of 1.3180 with a 1st objective of 1.3120, then 1.3100. A break in 1.3200 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-15

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5770 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provide sellers with signals suggesting a decline in the short term. Bollinger bands are much discarded to a result of the strong decline of these days. But until that the resistance is not broken the assumption of a stabilization is most likely

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5770 with a 1st objective of 1.5850, then 1.5870. A break in 1.5750 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-15

The spot rate is currently testing the intermediate resistance of its medium term bullish channel in 1.3200 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3370.

Technical indicators provide sellers with signals supporting the assumption of a decline in the short term. Bollinger bands are stabilized showing a more regular volatility.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3200 with a 1st objective of 1.3260, then 1.3280. A break in 1.3180 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-16

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5710 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provide sellers signals suggesting a decline in the short term. 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 have broken its resistance in 1.5710 with a 1st objective of 1.5770, then 1.5790. A break in 1.5690 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-16

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.3060 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3160.

RSI provides sellers signals but evolves in the overbuy zone supporting the assumptions of a rebound. Bollinger bands are much discarded to a result of the strong decline of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3060 with a 1st objective of 1.3120, then 1.3160. A break in 1.3040 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-17

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5830 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provides buyers with signals but are approaching the overbought zone supporting the assumptions of a decline. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5830 with a 1st objective of 1.5890, then 1.5920. A break in 1.5810 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-17

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.3160 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.3270.

Technical indicators don't give clear signals but are approaching the overbought zone suggesting a decline. Bollinger bands are much discarded to a result of the strong decrease of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3160 with a 1st objective of 1.3220, then 1.3270. A break in 1.3140 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Elliott Wave Count for February 20, 2012

Market Overview
The GBP/USD pair was trading in a bullish mood for last few days. After we saw positive Retail Sales m/m from England this major pair reached a new 6 days high around 1.5860 level on Friday. In a New York session gbp/usd pair tried to go lower but There was Bad reports from USA that bring this pair to new high 1.5870.Today this major pair start in downward move, price is currently 1.5850 and we are expecting to see price testing 50 EMA support today around 1.5810 level. USA have bank holiday so we do not expect big change in this pair today.

Support and Resistance levels
(S3) 1.5751 (S2) 1.5779 (S1) 1.5796 (PP) 1.5823 (R1) 1.5851 (R2) 1.5868 (R3) 1.5895

GBP/USD Elliott Wave Analysis
The GBP/USD finished i wave today at 1.5877, and we are currently in wave ii. according to our wave rules and taking into consideration that wave ii will retrace 50 or 61.8% of wave i we can project our targets with Fibonacci retrace(1.5654-1.5877) to the first take profit level at 1.5767(50% retrace) and second take profit at 1.5740(61.8%)/For stop loss we can use resistance at 1.5890.

Trading Forecast
Proceeding from Elliott Wave Rules the trend is expected to begin the downward movement to go lower today. That is why Short position at levels 1.5845 with Stop Loss at 1.5890, Take Profit at 1.5767 and Take Profit 2 at 1.5740 are recommended

Performed by Nicola Delic, Analytical expert
InstaForex Companies Group © 2007-2012

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-20

The spot rate broke the intermediate resistance of its medium term bearish channel in 1.3160 leading to an acceleration. A pull back on these levels is expected before a rebound. a resumption of bullish movement would allow it to reach the upper limit of its channel to 1.3280.

Technical indicators don't give clears signals but approaching to the overbuy zone suggesting a decline and supporting the assumption of a pull back in the short term. 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 on the levels of 1.3160 with a 1st objective of 1.3220, then 1.3250. A break in 1.3140 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Bearish Outlook, February 21, 2012

The British pound - U. S. Dollar pair, shows signs of exhaustion and a possible short-term bearish correcion, given that the level of 1.5900, we could not overcome this level is intact and the pair will have to turn bearish. This level of 1.5900 is also supported by the moving average periods of 200 serving as a strong resistance.

Therefore, recommend already sell at current levels and the escape point a few more pips above 1.5900 or above the weekly R_1
Our first objective, it is placed at 1.5670 which coincides with the 38.6% retracement of Fibinacci, and our ultimate goal in the 61.8% retracement of fibinaci around 1.5500 dollars per pound.

The Momentum indicator is showing bearish signals.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-21

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3290 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provides sellers signals and 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 indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3290 with a 1st objective of 1.3350, then 1.3380. A break in 1.3270 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-22

The spot rate is currently testing the intermediate support of its medium term bearish channel in 1.5760 suggesting a rebound. However a break of these levels would entail a decline to the lower limit of this one to 1.6530.

Technical indicators do not provide clears signals but until that the support is not broken the assumption of a rebound is most likely. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5760 with a 1st objective of 1.5820, then 1.5850. A break in 1.5740 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-22

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3290 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 clears signals but until that 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 indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3290 with a 1st objective of 1.3350, then 1.3380. A break in 1.3270 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-23

The spot rate is currently testing the lower limit of its medium term bearish channel in 1.5600 suggesting a rebound. However a break of these levels would free a large potential and entail a bearish channel more violent.

Technical indicators provide buyers signals supporting the assumption of a rebound in the short term. Bollinger bands are much discarded to a result of the strong decline of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5600 with a 1st objective of 1.5650, then 1.5680. A break in 1.5580 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-23

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3280 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend.

Technical indicators provides buyers signals but 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 indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3280 with a 1st objective of 1.3350, then 1.3380. A break in 1.3260 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2012-02-24

The spot rate is currently testing the intermediate resistance of its medium term bearish channel in 1.5760 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.5860.

Technical indicators give sellers signals suggesting a decline in the short term. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5760 with a 1st objective of 1.5820, then 1.5860. A break in 1.5740 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2012-02-24

The spot rate is currently testing the upper limit of its medium term bullish channel in 1.3390 and seems to initiate a decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.

Technical indicators provide sellers signals and evolve in overbuy zone suggesting a decline. Bollinger bands are much discarded to a result of the strong increase of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3390 with a 1st objective of 1.3450, then 1.3480. A break in 1.3370 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis 2012-02-27

The spot rate is moving in a medium-term trading range approaching its upper limit in the point 1.5930, indicating a possible decline. However, the breakdown of these levels will reveal a large potential that will initiate the bullish trend.

Technical indicators provide signals for SELL-deals, confirming the assumption of a decline that is expected to take place soon. For the last days Bollinger bands have tightened significantly showing a decline in volatility and the beginning of a violent movement.

Proceeding from the previous events, the market indicates a bullish opportunity as soon as the spot rate will has broken its resistance in the point 1.5930 with a 1st objective seen at 1.5990 and at 1.6030 levels. If the level 1.5910 is passed through, the scenario will be reversed.

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

 

[bhanu545]

EUR/USD Intraday Technical Analysis 2012-02-27

The spot rate is currently testing the upper limit of its medium term bearish channel at 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 the overbuy zone supporting the assumption 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 will indicate a bullish opportunity as soon as the spot rate has broken its resistance at 1.3490 with the 1st objective of 1.3550, then 1.3580. A break through 1.3470 will invalidate this scenario.

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

 

[bhanu545]

GBP/USD Wave Analysis for February 28, 2012

After the yesterday’s repulse from the level of the figure 59 that took place during the Pacific session, the GBP/USD pair had lost over 100 pips by the end of the day. The inner wave structure of the ascending part of the trend that was formed on Friday does not seem to be very convincing. This enables the Pound to resume the growth to the targets located near the point 1.5930. At the same time, as it has been mentioned before, the 2nd wave (or the wave B) is likely to transform in more complicated corrective structure which, in turn, is expected to acquire the properties of diagonal triangle.

Targets for the variant with the wave 2 or B (in case it is complicated):
1.5662 – 38.2% according to Fibonacci
1.5581 – 50.0% according to Fibonacci

Targets for the variant with the wave 3 or C:
1.5933 – 261.8% according to Fibonacci

General conclusions and trading recommendations:
The formation of the ascending part of the trend within the wave 3 (or wave C) with targets seen at the 1.5933 (equal to 261.8% of Fibonacci) is very likely to resume. The continuous correction is considered as negative factor for the uprising part of the trend. Though it is possible that the ascending part of the trend will turn downwards, the Friday’s movement stimulated the formation of the uprising part of the trend. The renewal of the high of the wave 1 (or wave A) will be confirmed by the formation of the wave 3 (or wave C) indicating the further growth of the pair.

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