Technical analysis on EU,GU and majors

[bhanu545]

GBP/USD. Weekly and Monthly Pivot Points, For May 16-20, 2011

_____WEEKLY____
Weekly - R3 = 1.6797
Weekly - R2 = 1.1657
Weekly - R1 = 1.6426
Weekly Pivot = 1.6286
Weekly - S1 = 1.6055
Weekly - S2 = 1.5915
Weekly - S3 = 1.5684

_____MONTHLY____
Monthly - R3 = 1.7749
Monthly - R2 = 1.7247
Monthly - R1 = 1.6977
Monthly Pivot = 1.6475
Monthly - S1 = 1.6205
Monthly - S2 = 1.5703
Monthly - S3 = 1.5433

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

 

[bhanu545]

EUR/USD. Weekly and Monthly Pivot Points, For May 16-20, 2011

____WEEKLY_____
Weekly - R3 = 1.4725
Weekly - R2 = 1.4583
Weekly - R1 = 1.4350
Weekly Pivot = 1.4208
Weekly - S1 = 1.3975
Weekly - S2 = 1.3833
Weekly - S3 = 1.3600

_____MONTHLY______
Monthly - R3 = 1.5921
Monthly - R2 = 1.5401
Monthly - R1 = 1.5104
Monthly Pivot = 1.4584
Monthly - S1 = 1.4287
Monthly - S2 = 1.3767
Monthly - S3 = 1.3470

Performed by Gerardo Porras Palomino, Analytical expert
InstaForex Companies Group © 2007-2011
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[bhanu545]

GBP/USD candlestick analysis for May 17, 2011

The GBP/USD currency pair cannot break the support level at 1.6164. Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of 1 the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 0.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6517 level as a break of this resistance will target the pair to 1.6750.

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

 

[bhanu545]

EUR/USD wave analysis for May 17, 2011

Despite the fact that yesterday the EUR/USD currency pair could not continue the downside movement and moved two figures away from the reached lows, the whole estimated 3rd wave (or C) does not look complete at the moment. If so, the price should form the 5th wave in this 3rd (or C). At the same time, a possible target of such decline might be the correction level 61.8% that coincides with the 40 figure level.

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

 

[bhanu545]

GBP/USD candlestick analysis for May 18, 2011

The GBP/USD currency pair has rolled back after it could not break the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of 1 the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 0.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6517 level as a break of this resistance will target the pair to 1.6750

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

 

[bhanu545]

EUR/USD Technical Support and Resistance Level For May 17th / 2011

Today the EUR/USD is to find Support and Resistance between 1.4217 and 1.4313 and it has a strong Support at 1.4203 and a strong Resistance at 1.4326; if today the EUR/USD can break out and close below 1.4194, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4335, it will be the sign for LONG trading for today. Another option for an advanced trader can be trading between the Inner Buy Level at the 1.4231 for LONG trading and the Inner Sell Level at the 1.4299 for the SHORT trading, and all of them with the target at the 1.4265 level.

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

 

[bhanu545]

EUR/USD wave analysis for May 19, 2011

During yesterday’s trading the EUR/USD could not define further direction. At the same time, the price is still within the wave structure that at the moment can be characterized as another series of abc correction waves. Thus, current situation allows both resumption of downside movement in the range of the future 5th wave in the estimated 3rd (or C), and possible development of a new uptrend section.

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

 

[bhanu545]

GBP/USD Bullish Outlook May 19, 2011 (Daily Strategy)

The United Kingdom pound – United States dollar pair is showing signs of a change in trend, a daily close above the first monthly resistance around 1.6205 will be a clear signal to buy long up to resistance levels of 1.6650 at least. We remind you that the long term fundamental price target for the pair is at around price levels of 1.7500 United States dollars to the United Kingdom pound.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-05-20

The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.6240 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 1.6240 with a 1st objective of 1.6320, then 1.6340. A break in 1.6220 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD Technical Support and Resistance Level For May 20, 2011

TODAY's TECHNICAL LEVELS :

Breakout BUY Level : 1.4394.
Strong Resistance : 1.4386.
Original Resistance : 1.4372.
Inner Sell Area : 1.4358.
Target Inner Area : 1.4324.
Inner Buy Area : 1.4290.
Original Support : 1.4276.
Strong Support : 1.4262.
Breakout SELL Level : 1.4253.
SHORT DESCRIPTION :

Today the EUR/USD is to find Support and Resistance between 1.4276 and 1.4372 and it has a strong Support at 1.4262 and a strong Resistance at 1.4386; if today the EUR/USD breaks out and closes below 1.4253, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4394, 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 1.4290 for LONG trading and the Inner Sell Level at the 1.4358 for the SHORT trading, and all of them with the target at the 1.4324 level.

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

 

[bhanu545]

The EUR/USD technical analysis and trading recommendations for May 24, 2011

The euro is still observing the sell signal without a target level, formed yesterday, the MACD is also demonstrating a slight correction. The formed sell signal is strong and confirmed, since the Chinkou Span fixated below the price graph and the price is below the Ichimoku cloud. Thus, at the moment the first target for the downside movement is 1.4021 – the first support level. If this level is passed the second target will be the second support level at 1.3885. Downside movement remains while the price is below the Kijun-sen (1.4160), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show downside movement, the lines are diverging and directed down. The MACD is ascending, thus indicating current correction movement, if it reverses down this will denote the end of the correction movement.

Trading recommendations:
Currently it is recommended to trade down with target at 1.4021 and further to 1.3885. Stop Loss should be placed above 1.4160 and stretched as the Kijun-sen declines. Short positions should only be opened after the MACD reverses down.

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

 

[bhanu545]

GBP/USD candlestick analysis for May 24, 2011

The GBP/USD currency pair has successfully broken the support level at 1.6164, to decline further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

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

 

[bhanu545]

GBP/USD candlestick analysis for May 25, 2011

The GBP/USD currency pair has rebounded off the Fibonacci correction level 50.0. Earlier the GBP/USD has successfully broken the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

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

 

[bhanu545]

EUR/USD wave analysis for May 25, 2011

In general, as expected, the EUR/USD currency pair started to move upwards slowly after it failed to break the 40 figure level. At the same time, given the correction scenario of the wave situation after May 16, current growth of the euro price is limited by the c wave (in the B). If so, the indicated upside movement might develop in the direction of the 1.4200 level.

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

 

[bhanu545]

EUR/USD wave analysis for May 26, 2011

The EUR/USD is still forming an upside correction. At the same time, the development of the estimated wave in the B is becoming quite complicated. In this relation and given the indicated inner wave dimension of this wave in the B we might assume that the targets for current growth of the euro might be located in a quite wide range between the levels of 43 and 44 figures.

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

 

[bhanu545]

GBP/USD candlestick analysis for May 26, 2011

The GBP/USD currency pair has rebounded off the Fibonacci correction level 50.0. Earlier the GBP/USD has successfully broken the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

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

 

[bhanu545]

GBP/USD candlestick analysis for May 27, 2011

The GBP/USD currency pair is bouncing off the Fibonacci correction level 50.0 and has closely approached the resistance level 1.6430. If it is broken, short positions should be closed.
Earlier the GBP/USD has successfully broken the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 1.6164. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6430 level as a break of this resistance will target the pair to 1.6517.

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

 

[bhanu545]

EUR/USD wave analysis for May 27, 2011

Yesterday’s multidirectional trading did not allow the EUR/USD to develop the upside movement within the estimated c wave, in the B. At the same time we might suppose that the price is forming a quite complicated inner wave structure of this correction c wave, in the B. If so, as we mentioned before, the upside movement might develop in the direction of the levels between 43 and 44 figures.

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

 

[bhanu545]

GBP/USD Intraday Technical analysis 2011-05-30

The spot rate approaches the intermediate resistance of its medium-term bullish channel to 1.6580 suggesting a decline. However a break of these levels would reach the upper limit of this one to 1.6840.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6580 with a 1st objective of 1.6720, then 1.6740. A break in 1.6550 would invalidate this scenario.

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

 

[bhanu545]

EUR/USD wave analysis for May 30, 2011

The EUR/USD currency pair continued to move upside, forming a quite complex wave situation of the whole upside movement developing since May 23. At the same time, given the correction scenario, such growth of the price can be considered as a forming structure of the c wave, in the B. If so, the targets for this c wave, in the B, may be located near the 1.4450 level.

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