Technical analysis on EU,GU and majors

  • Thread starter Thread starter bhanu545
  • Start date Start date
  • Watchers Watchers 70
EUR/USD Bullish Outlook for September 14, 2012

The Fed announced a new plan in order to stimulate the U.S. economy at the meeting that ended on Thursday. This should continue to keep rates exceptionally low in the United States until the end of 2015 and go on well after economic recovery.
At the technical level, we note that the euro is above 200 day moving average period, which that the rate is going to maintain an upward trend for a long time until the next target of 1.35 and reach 1.40 at the end of the year. Everything depends on how good the situation is in the Eurozone countries, here the euro appreciated only by a weak dollar, but still the problems are not solved.
In the short-term we recommend buying a return to the 200 day moving average around 1.2880 periods with goals at 1.32 and above at 1.35.
euroseptember14.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis and Trading Recommendations for September 17, 201

gb4hh.png

The GBPUSD pair continued its bullish movement last week recording a high at 1.6254.

As seen on the daily chart above, the price broke through a long-term trendline resistance suggesting a further bullish scenario at least towards 1.6315 corresponding to 78.6% Fibonacci.

The view remains bullish in short-term testing 1.6300 – 1.6350 zone.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Intraday Technical Analysis and Trading Recommendations for September 17, 201

eur4hh.png

The EUR/USD pair resumed its bullish movement last week recording a high at 1.3167.

As it is seen on the chart above, the view remains bullish in near-term as long as the pair is trading above 78.6% Fibonacci level around 1.3015.

Intraday support is seen around 1.3090. However, breakdown below that area could lead price to neutral zone in nearest term testing 1.3050 – 1.2970 while a longer-term support is seen around price level 1.2810 (61.8% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Technical Correction for September 18, 2012

The EUR/USD shows a correction we had expected; right now it is trading at the daily support level of 1.3270 resistance level and was very strong due to the attempt to break on two occasions. It is possible to continue its correction for next few days until the 1.2920 fractal, which coincides with the retracement level of 23.6% Fibonacci lines. We recommend buying at this level, with objectives at 1.3170. A close below 1.29 will start a longer bearish sequence.
Trend indicators together with MACD are showing overbought levels.
euroadailyseptember18.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Sell Bellow 1.63 for September 18, 2012

The British Pound is more stable now, although it is influenced by an upward force. Given that many pairs may take significant corrections during the next few days, there is a correction of key level towards 1.60. Taking into consideration the opportunity we have against the actual uptrend, we recommend selling at support level of 1.6035. as the stop loss will place it above the highest recorded level of 1.63 fractal. The last candlestick is showing an imminent correction in the price of the pound. Indicators are showing overbought levels.
euroseptember18.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Wave Analysis for September 19, 2012

EUR_h4.gif

Wave Analysis:
As it was expected, the EUR/USD pair rebounded from 1.3170 high and lost 90 points by the end of the day. If this downward move is unfolding according to the correctional scenario, it is relative to 5 wave of the uptrend which began on August 16. If it is so, the targets for correction can be placed near 29 figure.
Targets for down wave, probably 1 or a:
1.3 011 – 23.6% Fibonacci
1.2915 – 38.2% Fibonacci
Targets for wave 5 in 5 (if it is more complex):
1.3184 and higher – 685.4% Fibonacci
Summary and Trading Recommendations:
Continuation of the upward movement is most probable scenario now as wave 5 in 5 is quite short and yesterday’s rebound may indicate the beginning of the correctional price movement. Now, wave 1 or a probably began its building in the terms of which we can see a fall towards 1.3011 and 1.2915 levels which is equal to 23.6% and 38.2% Fibonacci. If this is a false statement, the pair may continue its upwards trend with the target at 1.3184 and higher which coincides with 685.4% Fibonacci in the terms of wave 5 in 5. The ascending channel did not lose its applicability but if the price goes lower, it will prove the building of downward move. MACD divergence marked the beginning of the correctional wave.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis 2012-09-19

gbpusd3.png

The spot rate broke yesterday the upper limit of its long term bearish channel at 1.6130 leading to an acceleration. A pull back on these levels is expected before a resumption of its bullish movement.

Technical indicators provide buy but approach overbuy zone supporting the hypothesis of a pull back. Bollinger bands have stabilized showing a more regular volatility.The superior band evolves on the levels of the spot rate supporting the assumption of a pull back.

As the spot rate is currently testing the support of its channel, we suggest 2 scenarios: the first one is the hypothesis of a rebound where we recommend a buy at the level of 1.6130 with the 1st objective at 1.6190 and then at 1.6220. A breakthrough of 1.6110 will invalidate this scenario. The second scenario is a break of its support where we recommend a “sell stop” which means selling the spot rate as soon as it is broken through its support of 1.6130 with the 1st objective at 1.6070 and then at 1.6050. A breakthrough of 1.6150 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Intraday Technical Analysis 2012-09-20

eurusd1.png

The spot rate has tested the upper limit of its medium term bearish channel at 1.3060 and declined. It approaches now the lower limit of this one at 1.2960 suggesting a rebound. However, a break of these levels will free a large potential and initiate a more violent bearish channel.

Technical indicators provide sell signals but evolve in oversell zone and until the support is not broken, the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline these days. Furthermore, the spot rate evolves at the levels of the inferior band supporting the hypothesis of a rebound.

As the spot rate is approaching the lower limit of its channel, we suggest 2 scenario: the first one is the hypothesis of a rebound where we recommend a buy at the level of 1.2960 with the 1st objective at 1.3020 and then at 1.3040. A breakthrough of 1.2940 will invalidate this scenario. The second scenario is a break of its support where we advise a “sell stop” which means to sell the spot rate as soon as it is broken through its support of 1.2960 with the 1st objective at 1.2900 and then at 1.2880. A breakthrough of 1.2980 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis and Trading Recommendations for September 20, 201

gbpdd.png

The GBPUSD pair continued its bullish movement last week recording a high at 1.6254. However, Monday's daily candlestick failed to close above Friday's candlestick high.

The GBPUSD had one more indecisive movement on Tuesday manifested in the Doji daily candlestick which was followed by a bearish candlestick yesterday which may be a sign for a possible bearish retracement which is taking place today.

The view remains bullish in short-term testing 1.6300 – 1.6350 zone.

Support: 1.6200, 1.6180, 1.6150, 1.6125, 1.6075.

Resistance: 1.6250, 1.6285, 1.6300, 1.6350, 1.6390.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead the price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Bullish Outlook for September 21, 2012

The euro hit the day's high at 1.3047 but then fell significantly without losing a slight upward trend in the short-term. Daily fractal can be found at 1.2940 and below the line of 23.6% Fibonacci retracement, both levels serve as support to the pair.
Meanwhile, the euro is above the moving average of 200 periods, which means that every pullback to support levels above the moving average is signal for buying.
Therefore, we recommend buying at 1.2940 with targets at 1.3170. The MACD and trend indicators are showing bullish signs.
In the long-term, according to fundamental analysis, we are far from reaching a solution to the debt problem. Upcoming Greek elections could cause a lot of worries. It is just a matter of time before people start to get nervous and pessimistic again about Europe and the euro which will bring us back to the levels of 1.25 and 1.20.
euroseptember21.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Sell Bellow 1.63 for September 21, 2012

The pound sterling exceeded the 1.63 area, and is going down right now; weekly resistance level is at 1.6329. The pair fell just below this and is losing strength right now. Given that indicators are indicating an overbought correction, the fall is likely to be extended to support levels. On the other hand, a pullback is probable to weekly resistance. Thus, we recommend selling at 1.6315 with medium-term targets to 1.6033, the stop loss we will be placed around 1.6350.
gbpusdseptember21.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Wave Analysis for September 24, 2012

EUR_h4.gif

Wave Analysis:
During Friday’s trading session, the EUR/USD pair failed to continue its upward movement and rebound to its previous positions. Taking into account the given indicators, there is a possibility that the pair may head towards reached earlier highs. At the same, unconvincing test of the correctional levels may enable the building of inner wave structure of the current correctional downtrend. In the result the price will come closer to 29 figure.
Targets for Down Wave 3 or c:
1.2915 – 38.2% Fibonacci
1.2836 – 50.0% Fibonacci
Targets for Wave 4 or First Uptrend Area:
1.3011 – 23.6% Fibonacci
1.3092 – 11.4% Fibonacci
Summary and Trading Recommendations:
The continuation of correctional trend is the most probable now. It is likely that wave 3 or will resume its descend trend in the terms of which the fall towards 1.2915 and 1.2836 is probable which is equal to 38.2% and 50.0% Fibonacci. The waves are very short that is why wave 2 or b has already formed. After wave 3 is worked out, we may observe growth in the terms of wave 4 or 1 of the new ascending movement towards 1.3011 and 1.3092 which is equal to 23.6% and 11.4% Fibonacci. Double convergence of MACD indicator signifies the likelihood of the upward trend formation.

Performed by Alexander Dneprovskiy, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis and Trading Recommendations for September 24, 201

gbpdail.png

The GBPUSD had one more indecisive movement on Tuesday manifested in the Doji daily candlestick which was followed by a bearish candlestick on Wednesday. However, the pair reacted strongly towards the price level of 1.6160 pushing the pair to test 1.6300 – 1.6350 zone.

On Friday, the GBP/USD pair almost reached the price level of 1.6300 when the market reacted strongly bearish which was manifested in the daily bearish hammer candlestick which strongly suggests an upcoming bearish retracement towards retesting of the broken long-term trend line around 1.6150-1.6100.

The view remains bullish in short-term with the test of 1.6300 – 1.6350 zone as long as we have daily closure above 1.6160.

Support: 1.6200, 1.6180, 1.6150, 1.6125, 1.6075.

Resistance: 1.6250, 1.6285, 1.6300, 1.6350, 1.6390.

Intraday support is seen around 1.6160. However, an obvious break below that level could lead the price to neutral zone in nearest term testing 1.6130-1.6050, while a longer-term support is seen around price level 1.5920 (50% Fibonacci Level).

Performed by Mohamed Samy, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis 2012-09-25

gbpusd4.png

The spot rate is currently testing the intermediate resistance of its medium term bullish channel at 1.6250 and seems to initiate a decline. However, a break of these levels will free a large potential and reach the upper limit of its channel at 1.6330.

Technical indicators provide buy signals but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, the inferior band strengthens the lower limit of the channel supporting the hypothesis of a rebound.

The spot rate is currently testing the intermediate resistance of its channel, we suggest 2 scenario: the first one is the hypothesis of a decline where we recommend a sell at the level of 1.6250 with the 1st objective at 1.6190 and then at 1.6170. A breakthrough of 1.6270 will invalidate this scenario. The second scenario is a break of its resistance where we advise a “buy stop” which means buying the spot rate as soon as it is broken through its resistance of 1.6250 with the 1st objective at 1.6310 and then at 1.6330. A breakthrough of 1.6230 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Buy Above EMA 200 for September 25, 2012

The euro is trying to recover from the last wave bass as part of the correction of the rally, if we notice the euro in the graph above the 200 day moving average period, it will increase the likelihood of bullish movement in the medium-term. We, therefore, recommend buying at current levels with objectives to 1.3117 resistance and finally to 1.3250.
Moreover, at fundamental level the Europeans are in a recession, but the Federal Reserve has announced that it will be more flexible for an "unlimited" amount of time and because of that the dollar has been beaten against almost all currencies and this, of course, includes the euro.
euroseptember25.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Bearish Outlook for September 26, 2012

The market sentiment remains fragile in the pound due to the current uncertainty as to whether Spain will seek a bailout which can make investors seek refuge in the U.S. dollar.
According to the pivot chart, the pound is trading around 1.6151 weekly support, this level is very important, the pair may fall to 1.6027 if goes below this support. On the other hand, if the pair trades above this level, we recommend buying with objectives to 1.63.
Our strategy is bearish for this pair, so we suggest to pay attention to the daily close, down from 1.6145. If this happens we recommend selling with objectives at the last support of 1.6127.
The indicators are showing a bearish sequence.
gbpusdseptember26.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Buy Above EMA 200 for September 26, 2012

The euro continues to fall due to unrest in Spain and concerns about whether the Greeks again cover their deficits.
Right now the euro is trading above the 200 day moving average periods, if the pair breaks this level below 1.2800, this will be the last dynamic support. Due to this, we are not necessarily ready to start going short on the euro, although we feel that over the time this pair will go much lower. We have to pass the level of 1.2750 before we become too bearish.

We therefore recommend buying at 1.2850 with objectives to nearest resistance of 1.3127.
euroseptember26.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
GBP/USD Intraday Technical Analysis 2012-09-27

gbpusd3.png

The spot rate approaches the upper limit of its medium-term bearish channel at 1.6230 suggesting a decline. However, a break of these levels will free a large potential and initiate a violent bullish channel.

Technical indicators provide buy signals but until the resistance is not broken, the assumption of a decline is most likely. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement. Furthermore, the superior band strengthens the upper limit of its channel supporting the hypothesis of a violent movement in case of failure.

The spot rate is currently testing the upper limit of its channel, we suggest 2 scenarios: the first one is the hypothesis of a decline where we recommend a sell at the level of 1.6230 with the 1st objective at 1.6170 and then at 1.6150. A breakthrough of 1.6250 will invalidate this scenario. The second scenario is a break of its resistance then we advise a “buy stop” which means buying the spot rate as soon as it is broken through its resistance of 1.6230 with the 1st objective at 1.6290 and then at 1.6320. A breakthrough of 1.6210 will invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Buy Above 1.2820 for September 27, 2012

The euro is quoted below 1.2945 fractal which now serves as a resistance and above the moving average of 200 periods around 1.2820, which serves as support. This is a level of uncertainty; if you want, you can buy over the daily fractal above 1.2945, or enter support levels around 1.2820 and set the stop-loss below the 200 EMA around 1.2760.
At the fundamental level, market sentiment remains fragile; the Europeans have added austerity measures with the help of which the leaders try to contain the debt crisis in the region. Spanish Prime Minister Mariano Rajoy may submit fifth package of budget cuts and protesters gathered near the parliament in Madrid yesterday, while in Athens Greek police dispersed protesters with tear gas.
It is likely that the euro optimism comes to an end and we can observe the beginning of a new sequence bassist, so we must expect the euro traded below 1.2750.
euroseptember27.jpg

Performed by Gerardo Porras, Analytical expert
InstaForex Companies Group © 2007-2012
 
EUR/USD Bullish Outlook for September 28, 2012

The EUR/USD pair took strength in the middle of the New York session on Thursday. The euro managed to overcome again the 1.29 area but stopped, at least for now, below 1.2970.The break of this level will enable 1.30 and 1.3117, next upside targets. It is likely that a setback on Friday is due to profit taking, so we must be careful not to leverage our accounts too much.

If we notice on daily charts, the euro has tested the 200-day moving average, I see that the sale of this pair is not feasible until the pair trades below this level of 1.2750. Therefore, try buy this pair of support levels daily or weekly.
euroseptember28.jpg

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