Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD. Weekly Analysis, For February 2, 2011

GBP/USD

For GBP / USD the Significant Levels are:

1.6477 1.6299, 1.6106, 1.5998,1.5912 and 15825,


The upward movement is expected after the breach of the last maximum of 1.6230 in this case the partial objective is 1.6480 and as our final objective we find the monthly resistance 1.6890

A downward correction is possible after drilling the 1.6130 level, our goal potential is in support number1 monthly 1.5820.


Trading recommendation:

Buy: 1.6255 Take profit: 1.6480 and 1.6890

Sell: 1.6130 Take profit: 1.5820

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for February 4, 2011

Overview:
The euro has resumed upside movement and started a correction; the signal weakened as the price fixed below the Kijun-sen. The formed buy signal was strong and confirmed initially, but at the moment it is weak since the Chinkou Span fixated below the price graph and the price is below the Ishimoku cloud. It is obvious that everything indicates cancellation of the upside movement and formation of a sell signal. Thus, at the moment it is recommended to wait until the sell signal is formed and confirmed, in this case the first target for the downside movement is 1.3514 the first support level. If this level is passed the next target will be the second support level at 1.3417. The Chinkou Span fixed below the price graph, which does not confirm the current buy signal and indicates bearish sentiment. The Bollinger bands show the beginning of the downside movement, the lines are diverging and directed down. The MACD is descending, which indicates current downside movement.

Trading recommendations:
Currently it is recommended to wait until the sell signal is formed and trade down with the target to 1.3514, and further to 1.3417. Short positions should be cut if the MACD reverses up.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD Bearish Outlook ,February 04, 2011

GBP/USD

The British Pound - United States dollar pair executed a sharp rise the day yesterday reaching a record high of 1.6250, after it had retreated 130 pips and then close the day around 1.6130. Its failure to close over the 1.6200 resistance level is, in and of Itself, a sell signal.

We note the Japanese reversal pattern That shape with yesterday's daily lock.

In view that the pair has broken its support level of 1.6130 is a signal for an immediate entry into a sale agreement with two realization Goals, the first at 1.6010 and 1.5820 at the second United States dollars for one British pound.


Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for February 7, 2011

The GBP/USD is rolling back after an unsuccessful attempt to test the Fibonacci correction level 23.6.
Earlier on a 4-hour graph the GBP/USD pair formed a candlestick combination Bearish Engulfing, which indicates downside movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6280, 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 1.5800-1.5750, where Fibonacci correction level 50.0 is also located, should be expected.
Bearish divergence on the Stochastic Oscillator supports downside movement as well.
Stop loss should be placed slightly above 1.6280 as breakthrough of this level will target the pair to 1.6457.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for February 7, 2011

Most of the day the EUR/USD currency pair has been staying near the 1.3620 level and only in the afternoon it managed to decline 60 pips. However, such insignificant decline allowed the price to form almost complete 5-wave structure, which is probably a part of the a wave of a more continuous future downside correction. If so, after the 5th wave in the estimated a is formed we can expect the price to go up to the 37 figure levels.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for February 8, 2011

The GBP/USD is consolidating near the Fibonacci correction level 23.6.
Earlier on a 4-hour graph the GBP/USD pair formed a candlestick combination Bearish Engulfing, which indicates downside movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6280, 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 1.5800-1.5750, where Fibonacci correction level 50.0 is also located, should be expected.
Bearish divergence on the Stochastic Oscillator supports downside movement as well.
Stop loss should be placed slightly above 1.6280 as breakthrough of this level will target the pair to 1.6457.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD Bearish Outlook ,February 08, 2011

EUR/USD

The Euro-United States dollar pair is in a range of 300 - points. between 1.3850 and 1.3550 level. From here on out, the pair is expected to move back towards the upper range of the pattern, which will enable entry into a sell deal on the pair at an attractive price. It is possible to use the 1.3780 resistance level as an entry trigger for a sell deal.

We should take into account the possibility at the Euro United States Dollar pair might continue its negative momentum rather than climb upwards, thus breaching the 1.3570 support level. A clean breach of this level will form a positive indication of continued movement to the south, towards the major 1.3345 support level our final exit goal from the sell position on the pair.



Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for February 9, 2011

The GBP/USD is consolidating near the Fibonacci correction level 23.6.
Earlier on a 4-hour graph the GBP/USD pair formed a candlestick combination Bearish Engulfing, which indicates downside movement, confirmed further.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6280, 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 1.5800-1.5750, where Fibonacci correction level 50.0 is also located, should be expected.
Bearish divergence on the Stochastic Oscillator supports downside movement as well.
Stop loss should be placed slightly above 1.6280 as breakthrough of this level will target the pair to 1.6457.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for February 9, 2011

During yesterdays trading the EUR/USD currency pair continued to form a quite complex inner wave structure of the estimated b wave of the whole current downside movement, developed since the previous Wednesday from the 1.3865 level. At the same time we cannot exclude the option that Mondays low 1.3510 is a completion of the prolonged 3rd wave of such downside movement, and an upside correction takes place within its 4th wave. In the nearest future we will find out, if it is right or not. However, in any case, current mini-downtrend does not look exhausted yes.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for February 10, 2011

Overview:
The euro did not strengthen the downside signal, as a result it cancelled and a new buy signal with target level 1.3960 has formed. The formed buy signal is confirmed, but weak since the Chinkou Span fixated above the price graph and the price entered the Ichimoku cloud and is still located near it. Thus, at the moment it is recommended to wait until the price passes the Ichimoku cloud, in this case the first target for the upside movement is 1.3981 the second resistance level. If this level is passed the next target will be the third resistance level at 1.4101. Upside movement remains while the price is above the Kijun-sen (1.3630), 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 possible sideways movement, the lines are not diverging and directed sideways, which denotes a flat. The MACD is ascending, which indicates current upside movement, if it reverses down, this will indicate the beginning of correction movement.


Trading recommendations:
Currently it is recommended to wait until the price passes the Ichimoku cloud and trade up with the target to 1.3981. Stop loss should be placed below 1.3630. Long positions should be cut manually if the MACD reverses down.

Performed by Stanislav Polyanskiy, Analytical expert