Technical analysis on EU,GU and majors

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GBP/USD Megaphone Pattern January 06, 2011 (Daily Strategy)

GBP/USD

The movement of the GBP/USD pair in the last few days had created a megaphone pattern, blocking off the price from both sides, and yet expanding. The obvious negative deviation that has been accompanying the pattern since its formation hints at a downwards breach of the pattern in the near future.

It is important to pay attention to the meaningful support level around 1.5385, which forms a combination between the Fibonacci support level and the 200-day moving average on the pair. Another breach of this level will serve as an important indication of continued downwards movement, towards the low support level of 1.5080 United States dollars for one British pound.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

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The EUR/USD technical analysis and trading recommendations for January 7, 2011

Overview:
The Euro has been demonstrating the sell signal with target level at 1.2899. The formed sell signal is strong and confirmed since the Chinkou Span fixed below the price graph and the price managed to fixate below the Ishimoku cloud. Thus, the first target for the downside movement is 1.2933 – the second support level. If this level is passed the next target will be the third support level at 1.2796. The downside movement continues while the price is below the Kijun-Sen(1.3255), if the price manages to fixate below this line it is recommended to cut long positions. The Chinkou Span fixed below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show the continuing downside movement, the lines are diverging and directed down, thus pointing to the correction against the current upside movement. The MACD is descending, indicating the current downside movement.

Trading recommendations:
Currently it is recommended to trade down with the target to 1.2933, and further to 1.2796. Stop Loss should be placed above 1.3200. Short positions should be cut manually in case the MACD reverses up.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The GBP/USD wave analysis for January 7, 2011

The GBP/USD currency pair is slowly declining further and probably forming the first waves of a more continuous 3rd wave of the current section of the whole downtrend having developed since December 31. If so, 1.5270 might be the target for this 3rd wave, which is confirmed by its inner wave dimension. At the same time, breakout of the 1.5345 level (December 28 low) might cause a continuous correction recession, but after the price reaches the above mentioned target (1.5270).

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-01-10

The spot rate is currently testing resistance through its medium-term downtrend channel at 1.2935 suggesting a decline in the short term. However a break of these levels would reach the upper limit of its channel to 1.3035.

According to previous events, the market indicates a bearish opportunity on the levels of 1.2935 with a 1st objective of 1.2860, then 1.2840. A break of 1.2950 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

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GBP/USD Intraday Technical analysis 2011-01-10

The spot rate is currently testing the upper limit of its medium-term downtrend channel at 1.5575 suggesting a decline. However a break of these levels would release significant potential and would initiate an upward trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5575 with a 1st objective of 1.5650, then 1.5670. A break of 1.5550 would invalidate this scenario.


Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Technical Analysis. Support And Resistance Levels For January 11/2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.2994.
Strong Resistance : 1.2986.
Original Resistance : 1.2974.
Inner Sell Area : 1.2962.
Target Inner Area : 1.2931.
Inner Buy Area : 1.2900.
Original Support : 1.2888.
Strong Support : 1.2875.
Breakout Sell level : 1.2868.
TODAY OUTLOOK :

In the 60 Minutes (H1) Timeframe between 03:00 and 04:00 Candles (08:00-09:00 WIB) the EUR/USD is forming the Inside Bar/ Harami Candle Pattern. In our view, the EUR/USDhas entered the congestion situation; this indicates that the pair is now trapped between 1.2900 and 1.3900 and is expected to stay in this range. If this pair can break out from this range (especially today), we will know the EUR/USD has found its trend for today.
TODAY SUGGESTION :

BUY if the EUR/USD can break out and close above1.3300, set the first target at 1.3325 and the second target at 1.3350.

SELL if the EUR/USD can break out and close below 1.2900, set the first target at 1.2875 and the second target at 1.2850.


Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The GBP/USD technical analysis and trading recommendations for January 11, 2011

Overview:
The sell signal has cancelled, instead a buy signal with target level at 1.5722 has formed. However, the movement has resembled a sideways one for several weeks. The formed sell signal is strong and not confirmed since the Chinkou Span has not yet fixated above the price graph and the price managed to fixate above the Ishimoku cloud. In case the current signal is confirmed, i.e. the Chinkou Span fixates above the graph, the first target for the upside movement is 1.5661 – the first resistance level. If this level is passed the next target will be the second resistance level at 1.5778. The upside movement continues while the price is above the Kijun-Sen(1.5515). The Chinkou Span fixed below the price graph, which does not confirm the current buy signal and indicates bearish sentiment. The Bollinger bands show sideways movement, the lines are not diverging and directed sideways. The MACD is ascending, indicating the current upside movement.



Trading recommendations:
Currently it is recommended to wait until the Chinkou Span fixates above the price graph, and then trade up with the target to 1.5661. Stop Loss should be placed below 1.5515. For successful trading it is also recommended to wait until the Bollinger Bands start diverging.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The GBP/USD technical analysis and trading recommendations for January 12, 2011

Overview:
The sell signal has cancelled, instead a buy signal with target level at 1.5722 has formed. However, the movement has resembled a sideways one for several weeks. The formed sell signal is strong and not confirmed since the Chinkou Span has not yet fixated above the price graph and the price managed to fixate above the Ishimoku cloud. In case the current signal is confirmed, i.e. the Chinkou Span fixates above the graph, the first target for the upside movement is 1.5661 – the first resistance level. If this level is passed the next target will be the second resistance level at 1.5778. The upside movement continues while the price is above the Kijun-Sen(1.5530). The Chinkou Span fixed below the price graph, which does not confirm the current buy signal and indicates bearish sentiment. The Bollinger bands show sideways movement, the lines are not diverging and directed sideways. The MACD is ascending, indicating the current upside movement.


Trading recommendations:
Currently it is recommended to trade up with the target to 1.5661, and further to 1.5778. Stop Loss should be placed below 1.5530. If the MACD reverses down, long positions should be cut manually.


Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD,Our Overall Outlook Remains Bullish, Janaury 12, 2011 (Daily Strategy)

EUR/USD

Since the pair still hasn't succeeded in breaching the minor resistance at 1.3040, there exists a chance for a brief wave of downwards movements towards the 1.2900 level. In such a case, there will be an opportunity to collect the Euro – United States dollar pair at an improved price before the upwards trend enters high gear. Further, a breach of the resistance levels at 1.3040 and then at 1.3100 will strengthen and confirm the pair's direction, expected to take it at the very least to the resistance level of 1.3370 United States dollars for one Euro.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The EUR/USD technical analysis and trading recommendations for January 13, 2011

Overview:
The euro has completed the downward movement; a new buy signal with target level at 1,3298 has formed. The formed signal is weak and confirmed since the Chinkou Span fixated above the price graph and the price did not manage to fixate above the Ishimoku cloud. Thus, at the moment the first target for the downside movement is 1.3257 – the first resistance level, but it is recommended to trade up only after the price fixates above the Ishimoku cloud. If this level is passed the next target will be the second resistance level at 1.3611. The upside movement continues while the price is above the Kijun-Sen(1.3010), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span fixed above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show the beginning of the upside movement, the lines are diverging and directed up. The MACD is ascending, indicating the current upside movement.


Trading recommendations:
Currently it is recommended to trade up with the target to 1.3257, and further to 1.3611. Stop Loss should be placed below 1.3010. Enter the market only after the price fixates above the Ishimoku cloud.


Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

The GBP/USD wave analysis for January 13, 2011

During yesterday’s trading the GBP/USD pair climbed more than 1.5 figures within developing estimated wave of the whole corrective structure having formed since December 28. It is worth mentioning that yesterday’s dynamic growth has probably cancelled the scenario implying the formation of a horizontal triangle. If so, possible targets for the current wave might be located near 1.5810 and 1.5920.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD Intraday Technical analysis

The spot rate approaches resistance through its medium-term downtrend channel at 1.5890. A break of these levels it would reach the upper limit of this channel to 1.6010.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance at 1.5890 with a 1st objective at 1.6010, then 1.6040. A break of 1.5860 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Technical Analysis. Support And Resistance Levels For January 14/2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3409.
Strong Resistance : 1.3401.
Original Resistance : 1.3389.
Inner Sell Area : 1.3376.
Target Inner Area : 1.3344.
Inner Buy Area : 1.3313.
Original Support : 1.3301.
Strong Support : 1.3288.
Breakout Sell level : 1.3280.
TODAY OUTLOOK :

Today the EUR/USD has been trading in a ranging situation between the 1.3325 and the 1.3375 levels. However the situation of this pair seems to have changed from Bearish to Bullish, this is indicated by the fact the EUR/USD has closed above the Exponential Moving Avarage periode 100 in the Daily TimeFrame and the Stochastic (8,3,3) in the same way (upward movement).
TODAY SUGGESTION :

BUY if the EUR/USD can break out and close above the 1.3375, and set the Take profit at 1.3400 as the first target and 1.3425 as the second target.

SELL if the EUR/USD can break out and close below the 1.3325, and set the Take profit at 1.3300 as the first target and 1.3275 as the second target.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD. Weekly and Monthly Pivot Points, For January

_____WEEKLY______
Weekly - R3 = 1.6424
Weekly - R2 = 1.6155
Weekly - R1 = 1.6010
Weekly Pivot = 1.5741
Weekly - S1 = 1.5596
Weekly - S2 = 1.5327
Weekly - S3 = 1.5182

_____MONTHLY______
Monthly - R3 = 1.6451
Monthly - R2 = 1.6180
Monthly - R1 = 1.5885
Monthly Pivot = 1.5614
Monthly - S1 = 1.5319
Monthly - S2 = 1.5048
Monthly - S3 = 1.4753

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD Corrective Movement, Janaury 17, 2011 (Weekly Strategy

EUR/USD

The 1.3380 resistance level is a real test for the Euro – United States dollar pair on its way towards the previous highs around 1.4000. For now, the pair has entered an especially narrow shuffle, which may end in an upwards breach, first towards near resistance level of 1.3620, and later up to the resistance level and exit goal of 1.3970. A close above the 1.3390 level will form a buy trigger.

The possibility for worsening of the European debt crisis exists. Such development would lead to a new wave of downwards movement, expected to bring the Euro – United States dollar pair back towards the 1.3060 support level. This level is low enough for collecting the pair and entering a buy position, while a stop loss order may be placed at 1.2800 United States dollars for one Euro.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD wave analysis for January 18, 2011

The EUR/USD has declined further, supposedly forming a corrective structure of the 4th wave of the whole uptrend section. At the same time the price decreased by 120 pips and tested the estimated correction level 38.2%. In general this 4th wave looks quite complete at the moment, including wave set abc. Based on this we can expect resumption of the growth with likely retesting of the 1.3460 level. However, the price can still form a five-wave structure in the range of the current downside movement.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD wave analysis for January 18, 2011

The GBP/USD currency pair has finally reached the estimated target level 1.5920. At the same time, the whole wave structure of the local uptrend is quite complex and it allows that the quotes continue growth in the range of the estimated 3 wave (b, or 3rd). On the other hand, based on wave counting, the pound price might start decreasing from yesterday’s high (1.5955) up to the 57 figure level.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD wave analysis for January 19, 2011

During yesterday's trading the GBP/USD pair continued to advance and gained 150 pips. At the same time the upward movement was located within the estimated 3rd wave (b, or 3rd) forming inner wave structire of its 5th wave. If so, this 3rd looks pretty complete, which implies certain decline before the pound tries again to test the 1.6055 level, reached yesterday. Moreover, MACD divergence indicates possible decline.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

EUR/USD wave analysis for January 19, 2011

In general, as expected, the EUR/USD pair resumed growth and managed to test the 1.3460 level, reached earlier. At the same time the 4th wave of the current uptrend section can be considered complete; the euro is probably continuing to advance in the range of the 5th wave. Moreover, given the wave dimension of the uptrend and the 5th wave structure we can suppose that targets for the whole upside movement of the pair might be located near 1.3490-1.3510.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2010

 

[bhanu545]

GBP/USD Technical Correction, Janaury 20, 2011 (Daily Strategy)

There exists a serious possibility for a corrective wave of downwards movements, which can technically move as far down was the low support levels of 1.5590 United States dollars for one British pound.

while failing to breach the resistance level 1.6050, leads us to the conclusion that the upwards movement is over and a technical correction is about to begin. Any upwards movement to 1.6040 can be utilized to form a new sell position. Further, a breach of the nearby 1.5900 support level will back the expected downwards movement.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2010