Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD candlestick analysis for February 10, 2011

The GBP/USD is consolidating near the Fibonacci correction level 23.6 and is probably forming a Descending Triangle pattern.
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]

GBP/USD Intraday Technical analysis

The spot rate approaches the lower limit of its medium-term bearish channel at 1.6010 suggesting a rebound in these levels. However a break of this zone would free a large potential of drop and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6010 with a 1st objective of 1.6120, then 1.6150. A break in 1.5980 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for February 11, 2011

Overview:
The euro did not strengthen the downside signal and it is about to be cancelled, the price fixated below the Kijun-sen, which weakened the current buy signal even more, therefore a new sell signal is expected to be formed in the nearest time. The formed buy signal is confirmed, but weak since the Chinkou Span fixated above the price graph and the price is below the Ichimoku cloud. Thus, at the moment it is recommended to wait until the current signal strengthens or a new one is formed, in the first case the first target for the upside movement is 1.3981 the second resistance level. If a new sell signal is formed the target will be the first support level at 1.3463. Upside movement remains while the price is above the Kijun-sen (1.3630), if the price fixates below this line (which has happened) 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 sideways movement, the lines are not diverging and directed sideways, which denotes a flat. The MACD is ascending, which indicates current downside movement.


Trading recommendations:
Currently it is recommended to wait until the current signal strengthens or a new one is formed. A new sell signal is more likely to be formed. In this case the targets will be the closest support levels..

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for February 14, 2011

The GBP/USD is still trading in a downside corridor. 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 Around the Monthly Pivot , February 14, 2011 (Daily Strategy)

The Euro / Dollar pair, is sitting in front of the 1st weekly support at 1.3449 and 1.3439 Pivot monthly, we can say that if the pair continued their downward trend, closing the trading day below these levels may continue to drop the 1.3350 and 1.3200, on the other hand, we note that the pair has touched
200-day moving average. Therefore, we will be in expectation.

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-02-15

The spot rate approaches the upper limit of its short term bearish channel at 1.6070. A break of these levels would reach the upper limit of its medium-term bearish channel at 1.6180.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6070 with a 1st objective of 1.6180, then 1.6220. A break in 1.6040 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for February 15, 2011

The EUR/USD currency pair is declining further after a slight rollback. Earlier on a 4-hour graph the EUR/USD has formed candlestick combination Falling Three Methods, indicating downside movement.
This candlestick combination shows that the currency pair had been demonstrating upside movement for several weeks. However, near the resistance level 1.3852 (3-month high) the bears started to increase their influence and a rebound took place.
Downside movement is supported by the MACD divergence and Evening Star and Bearish Engulfing candlestick combinations on the day graph.
Break of the support level 1.3538 proves this viewpoint. Now we should expect a downside movement to the support level 1.3227, where Fibonacci correction level 61.8 is also located.
On the other hand, if the resistance level 1.3852 is breached, short positions should be closed as it will result in growth to 1.4000.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for February 16, 2011

The EUR/USD currency pair is consolidating after it has broken the support level 1.3538. Earlier on a 4-hour graph the EUR/USD has formed candlestick combination Falling Three Methods, indicating downside movement.
This candlestick combination shows that the currency pair had been demonstrating upside movement for several weeks. However, near the resistance level 1.3852 (3-month high) the bears started to increase their influence and a rebound took place.
Downside movement is supported by the MACD divergence and Evening Star and Bearish Engulfing candlestick combinations on the day graph.
Break of the support level 1.3538 proves this viewpoint. Now we should expect a downside movement to the support level 1.3227, where Fibonacci correction level 61.8 is also located.
On the other hand, if the resistance level 1.3852 is breached, short positions should be closed as it will result in growth to 1.4000.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-02-16

The spot rate is currently testing the upper limit of its medium-term bearish channel at 1.6170 and seems to be starting to decline. However 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 1.6170 with a 1st objective of 1.6280, then 1.6300. A break in 1.6140 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

The market manipulations analysis of the GBP/USD

The GBP/USD is still trading in a range between 1.6200-1.5960. Nevertheless, stop loss should be placed slightly above 1.6280 as breakthrough of this level will target the pair to 1.6457.
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.

Performed by Vladimir Donin, Analytical expert