Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD Intraday Technical Analysis 2012-07-09

The spot rate broke the intermediate support of its medium term bearish channel at 1.5500 leading to an acceleration. A pull back on these levels is expected before reach the lower limit of its channel to 1.5360.

Technical indicators do not provide clear signals but approaching oversell zone supporting the assumption of a pull back. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bearish opportunity at the level of 1.5500 with the 1st objective at 1.5440 and then at 1.5420. A break through 1.5520 will alter this scenario.

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

 

[bhanu545]

EUR/USD Intraday Technical Analysis 2012-07-09

The spot rate is currently testing the lower limit of its medium term bearish channel at 1.2250 and seems to initiate a rebound. However, a break through these levels will release good potential and initiate a more violent bearish trend.

Technical indicators provide buy-signals and evolve in oversell zone supporting the assumption of a rebound. Bollinger bands are much discarded as a result of a strong decline these days. Stabilization is expected in a short term.

According to previous events the market will provide a bullish opportunity at the level of 1.2250 with the 1st objective at 1.2310 and then at 1.2330. A break through 1.2230 will alter this scenario.

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

 

[bhanu545]

EUR/USD Rebound - for July 10, 2012 (Daily Strategy)

The euro is consolidating because the markets are waiting for the European decision after the meeting this week. It's a bit farfetched to consider that something constructive will happen and even if it happens, there is a strong possibility that the market will simply fade away anyway. Unfortunately the markets are not as patient. If this situation had occurred 3 years ago, the euro and would have been quoting at 1.15
After we have broken below 1.2415 level, we gained much support. What once was support becomes resistance and this could be what we are expecting. However, we must take into account that the pair dropped almost 400 pips last week and that a rebound is not necessarily excluded.
A rebound towards 1.24 will serve as an opportunity to sell this pair from higher levels. Our medium term objective is 1.2150.

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis and Trading Recommendations for July 10, 2012

On the mid-term scale the GBP/USD currency pair is moving sideways in a slightly bearish Yellow channel.
Price levels of 1.5460 & 1.5520 correspond to 61.8% & 50% Fibonacci levels based on the previous bullish swing 1.5266 up to 1.5774.
On the Intraday scale the price zone 1.5460 - 1.5520 corresponds to the lower limit of the long-term channel which constitutes a very strong support zone and is likely to push the GBP/USD pair to the upside to 1.5580 then 1.5645 with SL located below 1.5450.
The pair is probably forming a mid-term bearish Head & Shoulders reversal pattern with its right shoulder located around 1.5645 which is rendered a valid SELL entry with SL located above 1.5725.

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

 

[bhanu545]

EUR/USD 1.2405 Strong Resistance - for July 11, 2012

Italian prime minister announced that Italy may seek another bailout and this news ultimately hurt the Europe’s outlook.
On the technical level, the euro hit the 1.2250 support level which allows suggesting continuation of the downtrend. A close above 1.2250 would increase the probability of a rebound, to the weekly pivot of 1.2405 in this level. We recommend selling with short term 1.2150.
The Momentum indicator is showing that a rebound is imminent. Range Indicator is showing that the euro is highly oversold.

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis and Trading Recommendations for July 11, 2012

On the mid-term scale, the GBP/USD currency pair is moving sideways in a slightly bearish channel since it managed to breakdown the long-term uptrend line depicted on the chart.
Price levels of 1.5460 & 1.5520 which correspond to 61.8% & 50% Fibonacci levels based on the previous bullish swing 1.5266 up to 1.5774.
On the Intraday scale the price zone of 1.5460 - 1.5520 corresponds to the lower limit of the long-term channel which constitutes a very strong support zone and is likely to push the GBP/USD pair to the upside to 1.5580 then 1.5645 with SL located below 1.5450.
A short-term Head & Shoulders reversal pattern was expressed yesterday at the key-zone of 1.5460 - 1.5520 which is confirmed now to be targeting at 1.5580 then 1.5630.
The pair is probably forming a mid-term bearish Head & Shoulders reversal pattern with its right shoulder located around 1.5645 which is rendered a valid Sell entry with SL located above 1.5725.

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

 

[bhanu545]

EUR/USD Pushing Lower Today - Analysis for July 12, 2012

EUR/USD Elliott Wave
Last week the EUR/USD pair was trading in a downward move developing impulsive wave (3) (coloured green) of the bigger 5 wave (coloured orange). Yesterday during the Asian and European sessions we could observe an ascending movement towards the 1.2296 level. Therefore, during the New York session this major pair did not manage to hold this level and price was pushed down reaching a new 2 years low at 1.2211 level. At the moment we are in the 5 wave (coloured blue) of the bigger (3) wave (coloured green) and we are expecting to see the price around 1.2150 level today. In accordance with our wave rules and taking into account that the wave 3 retraces 161.8% of the wave 1, we can define the potential targets with Fibonacci extensions (1.2742-1.2408-1.2692) with Take Profit at 1.2149 (161.8% of wave 1). Resistance point at 1.2255 can be used as Stop Loss point. Also it is necessary to monitor the U.S. Unemployment Claims, Import Prices m/m, Federal Budget Balance, FOMC Member Williams Speaks and EU ECB Monthly Bulletin, Industrial Production m/m, ECB President Draghi Speaks data that can change the rate of the pair.
Support and Resistance Levels
(S3) 1.2165 (S2) 1.2197 (S1) 1.2217 (PP) 1.2249 (R1) 1.2281 (R2) 1.2301 (R3) 1.2333
Trading Forecast
Proceeding from Elliott Wave rules this week, the trend is expected to begin the downward movement. That is why Short positions at level 1.2200 with Stop Loss at 1.2255 and Take Profit at 1.2149 are recommended.

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis 2012-07-12

The spot rate is currently approaching the lower limit of its medium term bearish channel at 1.5420 and seems to initiate a rebound. However, a break through these levels will release good potential and initiate a more violent bearish trend.

Technical indicators provide sell-signals 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 provide a bullish opportunity at the level of 1.5420 with the 1st objective at 1.5480 and then at 1.5500. A break through 1.5400 will alter this scenario.

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

 

[bhanu545]

EUR/USD Very Oversold - for July 13, 2012

The euro is pushed downward, waiting for some important data and maybe for the solution that is credible in the long term. As it is known, the market does not trust the meetings and conventions of European leaders.
In this context, the euro remains its downtrend, the range and Momentum indicators as well while being in oversold area showing an imminent rebound upward, apparently the area is likely to rebound at 1.2145 level daily fractal. We, therefore, recommend paying a lot of attention if you have short positions. If you do not want to buy, we recommend sell after the upward trend bounces around 1.2400.

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

 

[bhanu545]

GBP/USD Fractal 1.5408 - For July 13, 2012

On daily chart the British pound shows a recovery from the bearish pressure. During previous weeks the pair was in consolidation and the fact that it has broken its downtrend line means that there must be a downward pressure and it is likely that your goal is 1.5245.
Therefore, in this range of 1.54 (Fractal) to 1.5580 (fractal) it is better to be very cautious with our position, we recommend selling below 1.5580 near the level of resistance, or, if the pair closes the negotiations now, below 1.5400. We recommend selling with the targeted for 1.5245 level.

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

 

[bhanu545]

EUR/USD Technical Levels and Trading Recommendations for July 16, 2012

Proceeding from today's H4 chart, the pair takes a downward move and now is trading between the Support level 1.2175 and the Resistance level 1.2225. Currently the pair is testing the Support level of 1.2175 and is trying to break it. Given that the pair continues its bearish move and manages to break the Support level and closes 4H below, it will be a strong indicator for the bearish move which enables the Support level of 1.2140. After that we should wait for breaking this Support level and closing 4H below for more bearish-signals till reaching the Support level 1.2100.

On the other side, if the pair fails to break the Support level 1.2175 and bounces from it, this will give a good opportunity for bullish-signals after closing 4H above the Resistance level 1.2225 with TP 1.2280. Then we should wait for breaking the Resistance level of 1.2295 to continue the bullish-signals. If the pair manages to break this Resistance level and closes 4H above, this will provide a bullish strength providing new sell-signals and enabling the Resistance level of 1.2360 as a level target. Based on the given H4 chart, the technical indicators provide bearish-signals, but as long as the Support level 1.2175 is unbroken, the upward move is still expected invalidating the bearish outlook. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support Levels

R3(1.2360)
R2(1.2295)
R3(1.2225)

S1(1.2175)
S2(1.2140)
S3(1.2100)

Trading Recommendations
According to previous analysis, we recommend selling only if the pair manages to break the Support level 1.2175 with TP1 1.2150 and TP2 1.2110; SL closing 4 hours above the Support level might be appropriate.

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Companies Group © 2007-2012

 

[bhanu545]

GBP/USD Intraday Technical Analysis 2012-07-16

The spot rate is currently testing the intermediate resistance of its medium term bearish channel at 1.5590 and seems to initiate a decline. However, a break through these levels will release good potential and will be able to reach the upper limit of this one to 1.5650.

Technical indicators do not provide clear signals but until the resistance is not broken the assumption of a decline is most likely. Bollinger bands are much discarded as a 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 1.5590 with the 1st objective at 1.5650 and then at 1.5670. A break through 1.5570 will invalidate this scenario.

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

 

[bhanu545]

EUR/USD Bearish Outlook for July 17, 2012

The Euro failed to break the 1.2315 during the last hours, and short term uptrend is doubtful. Only overcoming of that level will give strength to the euro over the next few hours.
According to the Fractals indicator, we noticed a strong resistance in the euro around 1.2408; this level will be the final test for the change in the euro downtrend. Given that there is no relief from this crisis that adds pressure on the euro, we believe that the downtrend will continue.
Therefore, we recommend sell at 1.24 or 1.2408 with targets up to 1.2150.
The trend indicator shows bullish strength.

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

 

[bhanu545]

GBP/USD Sell Below 1.5704 for July 17, 2012

The British pound gain strength amid a downward correction, currently its short-term uptrend is not in danger. The weekly resistance level 1.5704, which is the key to the pair, has a clear path and can continue its way to the south. We believe that this will happen only when it has resolved the major part of the problems within the European Union. Taking into account that gloomy future, we recommend selling at the level of 1.5704 with targets at 1.5520.
On the other hand, a return to the weekly pivot line recommend buying at this level the pair, again sought to break the 1.57.
The trend indicator shows bullish strength.

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

 

[bhanu545]

EUR/USD Technical Levels and Trading Recommendations for July 18, 2012

Proceeding from today's H4 chart, the pair fails again in order to break the Support level 1.2220 and is still trading above it. Currently the pair is trading between the Resistance level 1.2330 and the Support level 1.2220. If the pair continues its bearish move and manages to break the Support level 1.2220 and closes 4H below, we will receive a strong indicator for more bearish move which enables the Support level 1.2170. Then we should wait for breaking this Support level to continue the bearish signals. In case the pair manages to break this Support level and closes 4H below, this will give us more bearish signals enabling the Support level 1.2140 as a level target.

On the other side, if the pair fails to break the Support level 1.2220 and bounces from it, this will provide a good opportunity for the bullish signals till reaching the Resistance level 1.2330. Then we should wait for breaking the Resistance level to continue the bullish signals. Given that the pair manages to break this Resistance level and closes 4H above, this will denote a bullish strength providing new buy signals enabling the Resistance level 1.2405 as a level target. Based on the given H4 chart, the technical indicators provide more bearish signals, but as long as the Support level 1.2220 is unbroken, the upward move is still expected invalidating the bearish outlook. Therefore, we should wait for more confirmations before making the decision.

Resistance and Support Levels
R3(1.2460)
R2(1.2405)
R1(1.2330)

S1(1.2225)
S2(1.2170)
S3(1.2140)

Trading Recommendations
According to previous analysis, we recommend selling after breaking the Support level 1.2220 and closing 4H below with TP 1.2175; SL closing 4 hours above the Support level will be appropriate.

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Companies Group © 2007-2012

 

[bhanu545]

GBP/USD Bearish Outlook for July 18, 2012

The British pound is falling down during these hours as the result of the Minutes of the Bank of England and the declarations of the president of the Fed.
The level above 1.57 is a strong resistance zone that extends to the level 1.58. Of course, the daily close above this level will increase the likelihood that the pair may raise to the level of 1.60. However, it will not be so easy.
Moreover, we notice a downward trend channel remains under bearish pressure. We, therefore, recommend selling in the levels of 1.5640 and 1.5520 with targets at 1.5440 respectively.
Trend indicator, a roof formed, showing that the pair is trying to negotiate over 1.57.

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

 

[bhanu545]

EUR/USD Technical Levels and Trading Recommendations for July 19, 2012

Proceeding from today's H4 chart, the pair is trading between the Support level 1.2270 and the Resistance level 1.2330. Given that the pair continues its bullish move and manages to break the Resistance level 1.2330 and closes 4H above, we will get a strong indicator for more bullish move which enables the Resistance level 1.2400. Then we should wait for breaking this Resistance level to provide more bullish signals. If the pair is able to break this Resistance level, this will give a good opportunity for the bullish signals enabling the Resistance level 1.2460 as a level target.
On the other hand, if the pair fails to break the Resistance level 1.2330 and bounces from it, this will denote a strong indicator for the bearish move till reaching the Support level 1.2270. Then we should wait for closing 4H below this Support level. In case the pair manages to break this Support level, this will denote a bearish strength providing new sell signals enabling the Support level 1.2220 as a level target. Based on the given H4 chart, the technical indicators provide buy signals, but as long as the Resistance level 1.2330 is unbroken, the downward move is still expected invalidating the bullish outlook. Therefore, we should wait for more confirmations before making this decision.

Resistance and Support Levels

R3(1.2460)
R2(1.2400)
R1(1.2330)

S1(1.2270)
S2(1.2220)
S3(1.2170)

Trading Recommendations
According to previous analysis, we recommend buying after breaking the Resistance level 1.2330 and closing 4H above with TP 1.2390; SL closing 4 hours below the Resistance level will be appropriate.

Performed by Hossam Soliman Ali, Analytical expert
InstaForex Companies Group © 2007-2012

 

[bhanu545]

GBP/USD Intraday Technical Analysis and Trading Recommendations for July 19, 2012

After having brief consolidation during this week around price levels of 1.5667-1.5575, the GBP/USD pair managed to break through the upper limit of the bearish channel depicted on the chart thus confirming the Flag Continuation pattern initiated around price level 1.5266 since 1st of June.
As we see on the 4H chart, GBP/USD managed to do so after finding bullish rejection towards 50% of Fibonacci level which gathered bullish strength and enabled the pair to break through the upper limit of the depicted channel.
Now the backside of the upper limit of the broken channel is expected to act as a strong support for GBP/USD around price level 1.5625 which constitutes a valid BUY entry for the pair.
Target levels for this Flag continuation pattern are located around 1.5700, 1.5760 then 1.5840 while SL is to be 4H closure below 1.5580.

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

 

[bhanu545]

GBP/USD Intraday Technical Analysis and Trading Recommendations for July 20, 2012

The GBP/USD currency pair has been making higher highs and lows within the bullish channels depicted on the chart since last Friday.
The movement channels are directed to the upside with variable bullish tendency. However, the GBP/USD pair has broken down the lower limit of the Violet channel at 1.5715, then the mid-line of the Yellow channel which indicates a possible bearish retracement in the upcoming movement to be targeting at the lower limit of the Yellow channel at 1.5625.
Price level of 1.5622 corresponding to the average daily range of the GBP/USD pair for today and also corresponding to the lower limit of the Yellow channel is considered as a valid low-risk buy entry with SL located below 1.5575.
Price zone 1.5755 - 1.5765 corresponding to the upper limit of the Yellow channel and the backside of the broken Violet channel is considered as a valid low-risk sell entry with SL located above 1.5790.

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

 

[bhanu545]

EUR/USD 1.2150 Strong Support - for July 20, 2012

EUR/USD had a busy day during the session on Thursday as the market is as if trying to find some support to recover from oversold conditions.
It is speculated openly that the Federal Reserve will increase the quantitative easing soon - the reason for the dollar to be sold a bit recently.
According to the global situation worldwide, the euro seems extremely weak, so a rebound is treated simply as an opportunity to sell. The reason for the trade does not seem exactly solid and I suspect that any rebound will be sold fairly quickly.
According to the line of fractals noticed a strong support at 1.2150 the break of this level will initiate new minimum, whose objective is 1.1890.
Moreover, a rebound in the support line will provide us with the opportunity to buy at very low prices for targeted of the strong resistance of 1.2400.

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