Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD Intraday Technical analysis 2011-04-12

The spot rate came to test the upper limit of its medium-term bullish channel at 1.6430 and declined. It is now approaching its intermediate support at 1.6270 suggesting a rebound in the short term. However a break of these levels would entail a return to the lower limit of its channel to 1.5990.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6270 with a 1st objective of 1.6370, then 1.6430. A break in 1.6240 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Daily Forecast For April 12 / 2011 2011-04-12

The bias of the pair is still in a Bullish situation, BUT we got a warning signal from the divergence between the MACD Histogram, because the price is making a new high, but the MACD Histogram made a Double Top formation, it means the EUR/USD will have a l retracement to the downside, especially if the EUR/USD can break out and close below the Fibonacci Support 23.6% at 1.4379, it will cause the pair to go down to test the Dynamic Support at 1.4358 (5 Periode Moving Avarage in Daily Charts) as the first target and 1.4311 (Fibonacci Support 38.2%) as the second target. On the other hand, if the pair can break out and close above today's opening at 1.4434, it will cause the EUR/USD to go up to 1.4451 as the first target and 1.4475 as the second target.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-04-14

The spot rate is currently evolving between the lower limit of its trading range at 1.6230 and the intermediate resistance of this one at 1.6310. A break of these levels would reach the upper limit of its channel to 1.6420.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 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 wave analysis for April 14, 2011

Yesterday the EUR/USD continued its attempts to form the beginning of a continuous correction structure in the range of the future estimated 4th wave (in the 5th). At the same time, by the end of the day the price could not test the estimated correction level 23.6%, which might cause further downside movement directed to the targets below the 44 figure level, or even near the 43. Simultaneously, for a more convincing completion of the 5th wave, the euro price will probably make another attempt to pass the 1.4500 level.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-04-15

The spot rates approaches the upper limit of its medium-term bearish channel to 1.6410. A break of these levels would free up significant potential and begin a rising trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6410 with a 1st objective of 1.6520, then 1.6550. A break in 1.6380 would invalidate this scenario.

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

 

[bhanu545]

The EUR/USD technical analysis and trading recommendations for April 15, 2011

The euro is still observing a buy signal, however a sideways movement is in advance, which is demonstrated by the Bollinger Bands, therefore it is recommended to resume trading up after the correction ends. 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 1.4599 – the first resistance level. If this level is passed the second target will be the second resistance level at 1.4713. Upside movement remains while the price is above the Kijun-sen (1.4440), 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 ending upside movement, the lines are not diverging and directed sideways, which is also a beginning of the sideways movement. The MACD is ascending, which indicates current upside movement, which is probably limited by the sideways channel.


Trading recommendations:
Currently it is recommended to trade up with target at 1.4599 and further to 1.4713. Stop Loss should be placed below 1.4440. Long positions should be opened after the Bollinger Bands start to diverge to the upside.

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

 

[bhanu545]

EUR/USD Weekly Forecast April 18th - APRIL 22nd / 2011

The EUR/USD is still trading above the 10 weeks periode moving avarage, and the slope of the moving avarage is still pointing to the upside, it means the trend bias of the pair in weekly charts is still in a Bullish situation, however the closing candle of the last week closed below the opening weekly bar, but still in the body of the previous week, so we categorized the downside movement as a small retracement. However please pay attention to the 1.4370 and the previous low weekly candle at the 1.4362 level, because we predict that this week this level has a potential to be tested by the EUR/USD, if this level can be passed and broken out, the EUR/USD will have a potential to go down to the Fibonacci Support 38.2% at the 1.4327 as the first target and the Fibonacci Support 50% at the 1.4268. However if the 1.4490 can be broken and passed by this pair, this week the EUR/USD will test the 1.4519 level.

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

 

[bhanu545]

GBP/USD wave analysis. Week review. 2011-04-18

After another testing of the 64 figure level the GBP/USD started to form the wave structure of the estimated 2nd wave in the future 3rd (or C). If so, the 2nd wave does not look complete at the moment, which allows a possibility of a decline to the 1.6175 level or lower. At the same time, general dollar situation extremely overbought indicators require being careful when keeping long positions.

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

 

[bhanu545]

EUR/USD candlestick analysis for April 19, 2011

EUR/USD pair is rolling back after it could not break the resistance level 1.4520.
Nevertheless, it is still trading in an uptrend after it has successfully broken the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 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]

GBP/USD wave analysis. Week review. 2011-04-18

After another testing of the 64 figure level the GBP/USD started to form the wave structure of the estimated 2nd wave in the future 3rd (or C). If so, the 2nd wave does not look complete at the moment, which allows a possibility of a decline to the 1.6175 level or lower. At the same time, general dollar situation extremely overbought indicators require being careful when keeping long positions.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-04-20

The spot rate approaches the upper limit of its medium-term bearish channel to 1.6360 suggesting a decline. However a break of these levels would free up significant potential and begin a rising trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6360 with a 1st objective of 1.6430, then 1.6470. A break in 1.6340 would invalidate this scenario.



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

 

[bhanu545]

EUR/USD candlestick analysis for April 20, 2011

EUR/USD pair is trading up with a target to test the resistance level 1.4520 after a rollback.
It is still trading in an uptrend after it has successfully broken the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577.
Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 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]

GBP/USD Intraday Technical analysis 2011-04-21

The spot rate approaches the upper limit of its medium-term bullish channel to 1.6460 suggesting a decline. However a break of these levels would free up significant potential and begin 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 1.6460 with a 1st objective of 1.6570, then 1.6600. A break in 1.6430 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD wave analysis for April 21, 2011

Yesterday the EUR/USD currency pair was trading dynamically in favour of the European currency, which in its turn allowed the price to test the 45 figure level. At the same time, the 3rd wave of this new uptrend section became quite prolonged in relation to its 1st wave. Given this, we might suppose that the euro can continue growth in the direction of the estimated target level located near the 1.4620 level.

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

 

[bhanu545]

GBP/USD wave analysis for April 22, 2011

During yesterday’s trading the GBP/USD continued a quite dynamic upside movement and tested the 1.6590 level later in the day. Therefore, the 1st wave in the future 3rd in general looks complete, and the decline indicated by the end of the trading is probably the beginning of the 2nd wave in this estimated 3rd. At the same time, given the current dynamics, the pound price is still able to form the 5th wave, in the 1st (in the 3rd) with a more complex inner structure.

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

 

[bhanu545]

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

Overview:
The euro is still in upside movement and observing the buy signal with target level 1.4826, we should also mention a slight 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 1.4668 – the third resistance level, as the previous two were passed. If this level is passed the second target will be the resistance level of the bigger timeframe at 1.4852. Upside movement remains while the price is above the Kijun-sen (1.4400), 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, which indicates current correction movement, therefore it is recommended to resume upside trading after it reverses back to the upside.


Trading recommendations:
Currently it is recommended to trade up with target at 1.4668 and further to 1.4852. Stop Loss should be placed below 1.4400 and stretch it up as the Kijun-sen advances. Open long positions after the MACD reverses back to the upside.

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

 

[bhanu545]

GBP/USD candlestick analysis for April 26, 2011

The GBP/USD currency pair is still in the downside movement.
Earlier in a 4-hour graph the GBP/USD formed a Bearish Engulfing candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had failed to break the resistance level near 1.6600, which means that the bulls could not solidify here. Further the bears started to increase their influence.
A break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.6164, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6600 level, since a break of this level will target the pair to 1.6750.

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

 

[bhanu545]

EUR/USD wave analysis for April 26, 2011

During yesterday’s trading the EUR/USD moved further in the range, which however was wider than on Friday. At the same time we might suppose the price formed a quite complex b wave in a more continuous 2nd wave (in the 5th) of the whole uptrend section initiated in the middle of December. If so, in the range of the wave in this 2nd the euro still might decline to the correction level 38.2% or even 50.0% (1.4400)

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-04-27

The spot rate approaches the upper limit of its medium-term bearish channel at 1.6530 suggesting a decline. However a break of these levels would free up significant potential and begin a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6530 with a 1st objective of 1.6620, then 1.6650. A break in 1.6510 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD wave analysis for April 27, 2011

After another test of the correction level 23.6% the EUR/USD made an attempt to resume upside movement. At the same time, passing the resistance at 1.4650 took most of the day. Nevertheless, at the moment we can suppose that the price started froming the 3rd wave (in the 5th). If so, given the limits of the channel where the current uptrend is developing, the closest target for this 3rd wave might be located between levels of the 47 and the 48 figures.

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