Technical analysis on EU,GU and majors

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GBP/USD wave analysis for October 6, 2011

During yesterday’s trading the GBP/USD currency pair was trading in a narrow range with deviation amplitude 100 pips. At the same time the price is forming the inner wave structure of the upside correction developing in relation to the 3rd wave of the current downtrend section. If so, in the nearest time the pound might resume downside movement in the direction of levels located below the 53 figure mark.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-07

The spot rates approaches the upper limit of its medium term bearish channel in 1.3530 suggesting a decline. 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 1.3530 with a 1st objective of 1.3630, then 1.3660. A break in 1.3500 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-07

The spot rate approaches to the upper limit of its medium term bearish channel in 1.5490 suggesting a decline. 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 1.5490 with a 1st objective of 1.5590, then 1.5620. A break in 1.5460 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-10

The spot rate approaches the upper limit of its medium term bearish channel in 1.3510 suggesting a decline. 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 1.3510 with a 1st objective of 1.3610, then 1.3630. A break in 1.3480 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD candlestick analysis for October 10, 2011

The GBP/USD currency pair is demonstrating a rebound after it could not fixate below the support level 1.5344. Nevertheless the viewpoint at the pair remains bearish.
Earlier in a 4-hour graph the GBP/USD pair formed a Falling Three Methods combination that gives us a bearish signal.
This combination was formed amid a downside movement after the pair could not break the resistance level near 1.6600, which means that the bulls could not solidify here and the bears started to increase their influence. At the same time each rollback was considered as a pause before further decline.
Break of the support level 1.5565 will denote that this point of view is correct. In this case we should expect a downfall to the support level 1.5344. Its break will cause downside movement to 1.5290.
It is worth mentioning that stop loss should be placed slightly above the 1.5932 level as its break will allow the pair to reach 1.6200.

Performed by Vladimir Donin, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-11

The spot rate broke the intermediate resistance of its medium term bearish channel leading to an acceleration. It's currently approaches to the upper limit of its channel in 1.3800. A break of these levels would allow it to 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 1.3800 with a 1st objective of 1.3900, then 1.3930. A break in 1.3770 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-11

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5700 suggesting a decline. 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 1.5700 with a 1st objective of 1.5800, then 1.5820. A break in 1.5670 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-12

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.3710 suggesting a decline. 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 1.3710 with a 1st objective of 1.3820, then 1.3850. A break in 1.3680 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-12

The spot rate is currently testing the upper limit of its medium term bearish channel 1.5690 suggesting a decline. However a break of these levels it 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 1.5690 with a 1st objective of 1.5790, then 1.5820. A break in 1.5660 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Buy up to 1.4000 , October 13, 2011

The weekly chart analysis of the pair, reflecting the high levels of resistance of euro-dollar pair on their way upstream. The first objective of short-term price is around 1.4000, but if it manages to overcome the resistance level and breaks the upstream channel, the pair is expected to more easily continue towards its goal of mid-price run around the 1.4500 and 1.4700 resistance level. Now, if the pair higher than the threshold test of 1.4050 will result in a technical confirmation regarding continuation of the upward movement weekly, towards the goal of medium term price to around 1.4700 U.S. dollars per euro.

On the other hand if the pair fails to close its weekly quote at the end of October is trading below 1.4000 is expected to again go back to the 1.3400 support level. At this point we will take another decision according to current events.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-13

The spot rate is currently testing the upper limit of its medium term bearish channel in 1.5790 suggesting a decline. 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 1.5790 with a 1st objective of 1.5890, then 1.5920. A break in 1.5760 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-14

The spot rate is currently testing the upper limit of its medium-term bearish channel in 1.3850 suggesting a decline. 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 1.3850 with a 1st objective of 1.3950, then 1.3980. A break in 1.3820 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-14

The spot rate is currently testing the upper limit of its medium-term bearish channel in 1.5780 suggesting a decline. 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 1.5780 with a 1st objective of 1.5890, then 1.5920. A break in 1.5750 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-17

The spot rate is currently testing the intermediate resistance of its medium-term bullish channel in 1.3920 suggesting a decline. However a break of these levels would allow it to reach the upper limit of its channel to 1.4060.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3920 with a 1st objective of 1.4030, then 1.4060. A break in 1.3890 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-17

The spot rate approach to the upper limit of its medium term bullish channel in 1.5890 suggesting a 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 bullish opportunity as soon as the spot rate will have broken its resistance in 1.5890 with a 1st objective of 1.5990, then 1.6020. A break in 1.5860 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-18

The spot rate is currently testing the intermediate support of its medium-term bullish channel in 1.3730 suggesting a rebound. However a break of these levels would entail a return to the lower limit of its channel to 1.3580.

According to previous events, the market indicates a bullish opportunity on the levels of 1.3730 with a 1st objective of 1.3830, then 1.3850. A break in 1.3700 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-18

The spot rate is currently testing the lower limit of its medium term bullish channel in 1.5730 suggesting a rebound. However a break of these levels would release a large potential of drop and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.5730 with a 1st objective of 1.5830, then 1.5850. A break in 1.5700 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-10-19

The spot rate is currently testing the intermediate resistance of its medium-term bullish channel in 1.3850 suggesting a decline. However a break of these levels allow it to reach the upper limit of its channel to 1.4040.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.3850 with a 1st objective of 1.3950, then 1.3980. A break in 1.3820 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD Bullish Outlook, October 19, 2011

The British pound waiting to be seen in trade with bullish results this week after reports on inflation in the country revealed a slight rise last month.

The United Kingdom pound – United States dollar pair is testing the strong resistance of 1.5850, this level of resistance, has served as a strong barrier in continuation of its upward sequence, if on this occasion the pair manages to close the daily quote, above this level for the following days we will have a pound to trade at levels 1.6000 or more. On the other hand the breakdown of the channel trendline could lead to the previous minimum 1.5500


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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-10-19

The spot rate approaches to the upper limit of its medium term bullish channel in 1.5860 suggesting a decline. However a break of these levels would allow it to initiate an bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.5860 with a 1st objective of 1.5960, then 1.5980. A break in 1.5830 would invalidate this scenario.

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