Technical analysis on EU,GU and majors

[bhanu545]

The EUR/USD technical analysis and trading recommendations for March 8

The euro is still observing a buy signal with target level 1.3764, the target level is reached, upside movement continues, we are also observing current correction. The formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. Thus, at the moment the first target for the upside movement is 1.4095 – the first resistance level. If this level is passed the second target will be the second resistance level at 1.4201. Upside movement remains while the price is above the Kijun-sen (1.3890), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show the continuing upside movement, the lines are diverging and directed up. The MACD is descending, thus indicating current correction movement, therefore it is recommended to resume up trading after the MACD reverses to the upside.

Trading recommendations:
Currently it is recommended to trade up with target at 1.4095 and further to 1.4201. Stop Loss should be placed below 1.3890. Up trading should be resumed after the MACD reverses to the upside.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

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GBP/USD wave analysis for March 8, 2011

Despite high volatility, the GBP/USD price has continued to form the 4th wave in the C (or the 3rd). At the same time correction level 50.0% calculated in relation to the 3rd wave dimension in the C (or the 3rd) was observed convincingly. Thus, current situation implies a possibility of the pound to resume growing in the direction of the 64 figure level. Simultaneously, given general market dynamics, the price can decline to the next correction level 61.8% (1.6150).

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

 

[bhanu545]

EUR/USD Technical Analysis. Support And Resistance Levels For March 09/2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3947.
Strong Resistance : 1.3938.
Original Resistance : 1.3925.
Inner Sell Area : 1.3912.
Target Inner Area : 1.3879.
Inner Buy Area : 1.3846.
Original Support : 1.3833.
Strong Support : 1.3820.
Breakout Sell level : 1.3811.
TODAY OUTLOOK :

The EUR/USD is now making a new downtrend channel, this is indicated by the lower peak level compared to a few recent highs. Today the pair is still in the Bearish situation and trading between Q2 and Q3 downtrend chanels. As long as the 1.3923 level cannot be broken out by this pair, the downside movement is still in advance. However, now the EUR/USD has been trading between 1.3875 and 1.3900. Please pay attention for the 1.3861 level because it is likely to be tested today as a 3-day low.
TODAY SUGGESTION :

BUY if this pair can break out and close above the 1.3900 level, set Take profit at 1.3910 as the first target and 1.3923 as the second target.

SELL if this pair can break out and close below the 1.3875 level, set Take profit at 1.3865 as the first target and 1.3850 as the second target.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 9, 2011

On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 10, 2011

The GBP/USD currency pair is demonstrating a slight correction after declining to 1.6126.
On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457. 

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

 

[bhanu545]

EUR/USD wave analysis for March 10, 2011

After Monday-Tuesday decline, yesterday the EUR/USD currency pair was correcting to this downward section. Thus, the price is probably continuing to form the wave structure of a more continuous future movement. If so, yesterday’s movement to the 1.3950 level was probably limited by the range of the 2nd wave, or b, of such correction. At the same time the MACD is demonstrating divergence to the uptrend initiated in early January.

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

 

[bhanu545]

EUR/USD wave analysis for March 11, 2011

Yesterday the EUR/USD pair continues its downside movement, having declined more than 130 pips during the trading. At the same time, the decline slowed down near a quite strong support level 1.3780, which corresponds with 50% correction in relation to the upwards section of the trend, formed February 14- March 7. Besides, as we can see on the graph, this is where we find a parity of the 1st wave (a) and the 3rd (or c) of the current assumed correction. Thus, we can conclude that even if the price is not starting do grow again, it must at least slow down its declining.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 11, 2011

The GBP/USD currency pair is declining further after a slight pullback.
On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457. 

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

 

[bhanu545]

EUR/USD wave analysis for March 14, 2011

An attempt to overcome the correction level 50.0% and the news from Japan have thrown the EUR/USD currency pair up by 1.5 figures to the 39 figure level. As a result of this, the whole March 7-11 decline looks now like a correction structure abc, thus assuming upside movement with the price reaching early highs (1.4035) and forming a new continuous uptrend section. At the same time, given the information from Japan, it is difficult to predict the situation on the market in such conditions.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 14, 2011

The GBP/USD currency pair is demonstrating a slight correction after a decline to 1.5980.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457. 

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

 

[bhanu545]

EUR/USD wave analysis for March 16, 2011

High volatility on the currency markets resulted in the EUR/USD currency pair forming a quite complex inner structure of the 2nd wave in the 3rd (in the 3rd). At the same time, later in the day the price managed to resume upside movement, supposedly in the range of the future 3rd wave (in the 3rd). If so, in spite of certain overbought indicators, the euro might resume growth in the direction of the 41 figure levels.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 16, 2011

The GBP/USD currency pair failed again to break the support level 1.5980, to rebound up further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6200 level. Since a break of this level will target the pair to 1.6345.

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

 

[bhanu545]

EUR/USD Intraday Technical analysis 2011-03-17

The spot rate approaches the upper limit of its medium-term bearish channel to 1.4010. A break of these levels would free up significant potential and begin 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 1.4010 with a 1st objective of 1.4080, then 1.4150. A break in 1.3990 would invalidate this scenario.

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

 

[bhanu545]

GBP/USD candlestick analysis for March 17, 2011

The GBP/USD currency pair failed again to break the support level 1.5980, to rebound up further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6200 level. Since a break of this level will target the pair to 1.6345.

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

 

[bhanu545]

GBP/USD wave analysis for March 18, 2011

Yesterday’s GBP/USD growth by almost 200 pips added certain doubts to the continuation of downside movement in the range of the correction initiated in early March. At the same time, given the complicated general situation on the currency markets we cannot deny the possibility of the c wave of this correction to have formed in a shortened shape. Simultaneously, this uncertainty can help the b wave become more complex and prolonged.

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

 

[bhanu545]

EUR/USD Bearish Outlook, March 18, 2011 (Daily Strategy)

The Euro – United States dollar pair strengthens, reaching to its highest level at 1.4146 arriving according to monthly pivot table to around the second resistance level 1.4133.

Therefore, if the pair continues its upward force would meet strong resistance at 1.4180 levels could a clear opportunity to take short positions, which would lead us to the low level around your daily trendline at 1.3970.


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

 

[bhanu545]

GBP/USD wave analysis for March 21, 2011

Despite the growth of the GBP/USD to the 1.6250 level, general wave situation is still uncertain. At the same time, all price changes since March 11 are now looking like a series of abc waves of a more continuous correction structure that might obtain a shape of an ascending triangle. If so, the pound has a chance to continue the downside correction in correlation with the uptrend section formed between December 28 and March 2.

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

 

[bhanu545]

EUR/USD candlestick analysis for March 21, 2011

Earlier on a daily graph the EUR/USD pair formed a Bullish Engulfing candlestick combination indicating upside movement.
This combination shows that the pair was advancing during several weeks. However, a rollback took place near the 1.4035 level, which provided another buy opportunity.
Further upside movement is supported by the fact that the uptrend remains.
Break of the resistance level 1.4035 proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.

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

 

[bhanu545]

The EUR/USD technical analysis and trading recommendations for March 22, 2011

The euro is continuing the upside movement, the Bollinger bands are diverging up, which strengthened the new buy signal with target level 1.4220. The formed buy signal is strong and confirmed, since the Chinkou Span fixated above the price graph and the price is above the Ichimoku cloud. Thus, at the moment the first target for the upside movement is 1.4295 – the first resistance level. If this level is passed the second target will be the second resistance level at 1.4405. Upside movement remains while the price is above the Kijun-sen (1.4055), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is above the price graph, which confirms the current buy signal and indicates bullish sentiment. The Bollinger bands show the continuation of the upside movement, the lines are diverging and directed up. The MACD is ascending, thus indicating current upside movement, if it reverses down this will denote the beginning of a correction movement.

Trading recommendations:
Currently it is recommended to trade up with target at 1.4295 and further to 1.4405. Stop Loss should be placed below 1.4055. If the MACD reverses down, it is recommended to cut long positions.

Performed by Stanislav Polyanskiy, Analytical expert
InstaForex Companies Group © 2007-2011

 

[bhanu545]

GBP/USD Bullish Outlook, March 22, 2011 (Daily Strategy)

The British Pound - United States dollar pair executed today a sharp rise , reaching a record high of 1.6400, a close in 4 hour candles below the 1.6340 level is a signal for an immediate entry into a sale agreement with a target to weekly pivot or even touch the uptrend line around 1.6150 level, at this level we expect the pair becomes bullish again, depending on If the pair is consolidating at this level and the daily trend line has not been drilled, we can take a long position with two realization Goals, the first at 1.6430 and the second at 1.6610 United States dollars for one British pound.

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