Technical analysis on EU,GU and majors

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EUR/USD wave analysis for May 31, 2011

Trading in the range yesterday did not allow the EUR/USD currency pair to choose further direction. Nevertheless, the narrow price range allowed the pair to form the wave structure that now looks like a part of the future 4th wave in the c, in the estimated B. If so, after the activity on the markets resumes and the decline within the 4th wave ends, the euro might continue advancing in the direction of the targets located above the 44 figure level.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

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GBP/USD Around The Down Trend Line. May 31, 2011

The United Kingdom pound – United States dollar pair is showing signs of a change in trend, a daily close bellow of the downtrend line, will be a clear signal to sell short even the nearest support level at 1.6250. It is important to point out that the pair could return to its previous low point. If it fails to break through the 1.6205 weekly support level. Such a drop will create an additional opportunity to pick up the pair at a low and attractive buy price.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-06-01

The spot rate is currently testing the intermediate resistance of its medium-term bearish channel at 1.6480 suggesting a decline. However a break of these levels would reach the upper limit of this one to 1.6550.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6480 with a 1st objective of 1.6550, then 1.6580. A break in 1.6460 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD wave analysis for June 1, 2011

Yesterday’s growth of the EUR/USD to the targets located above the 44 figure level might indicate the end of forming of the upside trend section initiated May 23. At the same time we cannot eliminate the possibility that the price will form even more complicates inner wave structure of the 5th wave in the c, in the estimated B. In the meantime, we should note the fact that if the euro cannot develop the upside movement, the euro will be able to decline to 1.4000.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.4320 suggesting a rebound. However a break of these levels would free a large downside potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4320 with a 1st objective of 1.4420, then 1.4450. A break in 1.4290 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis

The spot rate is currently testing the intermediate support of its medium-term bullish channel at 1.6310 and seems to start a rebound. However a break of these levels would entail a return to the lower limit of this one to 1.6090.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6310 with a 1st objective of 1.6420, then 1.6450. A break in 1.6280 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Bullish Outlook, June 03, 2011 (Daily Strategy)

The Euro-United States dollar pair in this moment is negotiating between the levels of 50% to 61.8% Fibonacci retracement. The resistance level of 1.4550 and the 61.8% Fibonacci retracement line could serve as a short input signal to continue the trend that had started to the weekly support line around the 1.4200 level.

Therefore, if the pair continues its upward force would meet strong resistance at 1.4550 levels could a clear opportunity to take short positions.

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

GBP/USD Bullish Outlook June 03, 2011

The United Kingdom pound – United States dollar pair will continue its drop until the 1.6200 support level. However, this is seen as only as a correction and so, we should continue look for the entry point so long as the price is at relatively low levels. In the long term, the pair still has a long way to go until it reaches its final target point at 1.6660. Also, it is important to point out the STOP/LOSS point situated far below the weekly support level of 1.6200

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-06-06

The spot rate is currently testing the upper limit of its medium-term bullish channel at 1.4660 and seems starting to decline. However a break of these levels would free up significant potential and initiate a bullish trend more violent.

According to previous events, the market indicates a bearish opportunity on the levels of 1.4660 with a 1st objective of 1.4560, then 1.4520. A break in 1.4690 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis

The spot rates approach the upper limit of its medium-term bearish channel to 1.6470 suggesting a decline in the short term. 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 1.6470 with a 1st objective of 1.6550, then 1.6580. A break in 1.6450 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-06-07

The spot rate is currently testing the intermediate resistance of its medium-term bullish channel at 1.4690 suggesting a decline. However a break of these levels would reach the upper limit of its channel to 1.4770.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4690 with a 1st objective of 1.4770, then 1.4790. A break in 1.4670 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis

The spot rates approach the upper limit of its medium-term bullish channel to 1.6510 suggesting a decline in the short term. However a break of these levels would initiate a more violent bullish trend.

According to previous events, the market indicates a bearish opportunity on the levels of 1.6510 with a 1st objective of 1.6410, then 1.6390. A break in 1.6540 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD wave analysis for June 8, 2011

Due to the incompleteness of the 5th wave inner wave structure, yesterday the EUR/USD resumed upside movement within the estimated 5th wave (in the 5th). At the same time observing one of the possible targets located near 1.4660-1.4670. The euro is demonstrating an intention to continue the growth to the 48 figure level. In the meantime, as we have already mentioned, strongly overbought indicators might demonstrate further deep correction of the price.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

GBP/USD wave analysis for June 8, 2011

During yesterday trading the GBP/USD still continued to form a more complicated inner wave structure of the b wave in the estimated 2nd (or b). If so, after the b wave is completed the price might continue to decline to the correction level 61.8% at the 1.6240 level. At the same time, given the market sentiment directed against the dollar, we cannot eliminate the possibility of the price passing May 31 high (1.6440) within the c wave, in the b.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical Level For June 10th / 2011

TODAY TECHNICAL LEVEL :

Breakout BUY Level : 1.4606.

Strong Resistance : 1.4597.

Original Resistance : 1.4584.

Inner Sell Area : 1.4570.

Target Inner Area : 1.4536.

Inner Buy Area : 1.4501.

Original Support : 1.4488.

Strong Support : 1.4474.

Breakout SELL Level : 1.4465.

SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4488 and 1.4584 and it has a strong Support at 1.4474 and a strong Resistance at 1.4597; if today the EUR/USD breaks out and closes below 1.4465, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4606, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4501 for LONG trading and the Inner Sell Level at the 1.4570 for the SHORT trading, and all of them with the target at the 1.4536 level.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

GBP/USD wave analysis for June 10, 2011

In general, as expected, during yesterday’s trading the GBP/USD pair resumed downside movement after testing the 1.6460 level. At the same time, wave structure of the b wave in the estimated 2nd (or b) obtained a shape of a diagonal triangle. Therefore, we can assume that current decline of the pound price will develop in the direction of the target correction level 61.8% at the 1.6240 level.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-06-13

The spot rate approaches the intermediate support of its medium-term bearish channel to 1.4250 suggesting a rebound on these levels. However a break of this area would entail a return to the lower limit of its channel to 1.3880.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4250 with a 1st objective of 1.4350, then 1.4380. A break in 1.4220 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-06-13

The spot rate is currently testing the lower limit of its medium-term bearish channel at 1.6210 and seems to start 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 1.6210 with a 1st objective of 1.6310, then 1.6360. A break in 1.6180 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday technical analysis June 14, 2011

On the Daily chart , we see strong bullish reaction of the price indicating strength of the current uptrend .

Yesterday's Daily candlestick was bullish engulfing enhancing the the bullish view .

As we expected the lower limit of the bearish channel acted as a support pushing the price up to the upper limit of the same channel .

Now the price is testing level 1.6425 (the upper limit of the channel and level 61.8% Fibonatcci) which is a strong resistance on the short term .

4H candlestick closure above this level gives the signal to go LONG with target at 1.6538 then 1.6616 with SL below 1.6325

If price gave bearish reaction towards this level , we can go short as an intraday trading with small target down to 1.6348 with SL 4H closure above 1.6450

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical Level For June 14th / 2011

TODAY TECHNICAL LEVEL :

Breakout BUY Level : 1.4485.
Strong Resistance : 1.4477.
Original Resistance : 1.4464.
Inner Sell Area : 1.4450.
Target Inner Area : 1.4416.
Inner Buy Area : 1.4381.
Original Support : 1.4368.
Strong Support : 1.4354.
Breakout SELL Level : 1.4346.

SHORT DESCRIPTION :
Today the EUR/USD is to find Support and Resistance between 1.4368 and 1.4464 and it has a strong Support at 1.4354 and a strong Resistance at 1.4477; if today the EUR/USD breaks out and closes below 1.4346, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4485, it will be the sign for LONG trading for today. Another option for the advanced trader can be trading between the Inner Buy Level at the 1.4381 for LONG trading and the Inner Sell Level at the 1.4450 for the SHORT trading, and all of them with the target at the 1.4416 level.

Performed by Arief Makmur, Analytical expert
InstaForex Companies Group © 2007-2011