Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD Intraday Technical analysis 2011-03-04

The spot rate is testing the intermediate support of its medium-term bullish channel at 1.6260 and seems to start a rebound. However a break of these levels would entail a return to the lower limit of its channel at 1.6230.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6230 with a 1st objective of 1.6310, then 1.6340. A break in 1.6210 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

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

The euro is still observing a buy signal with target level 1.3764, the target level is reached, the correction has ended and the price has fixated above the Kijun-sen again. 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 1.4020 – the second resistance level. If this level is passed the second target will be the third resistance level at 1.4202. Upside movement remains while the price is above the Kijun-sen (1.3850), 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 ascending, which indicates current upside movement, if it reverses down it is recommended to cut long positions.

Trading recommendations:
Currently it is recommended to trade up with target at 1.4020 and further to 1.4202. Stop Loss should be placed below 1.3850. If the MACD reverses down it is recommended to cut long positions.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-03-07

The spot rate approaches the lower limit of its medium-term bullish channel at 1.6240 suggesting a rebound in the short term. However a break of these levels would initiate a downward trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6240 with a 1st objective of 1.6300, then 1.6330. A break in 1.6220 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for March 7, 2011

After a dynamic advance on Thursday the EUR/USD currency pair took a pause and was trading in a quite narrow range slightly below the 40 figure level. At the same time, we can suppose at a stretch that the Fridays high completed the formation of the 3rd wave in the 3rd (in the C). If so, then after a decline in the range of the future 4th wave the price might resume the growth in the direction of the 1.4100 level, thus completing the 3rd wave in the estimated C.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for March 8

The euro is still observing a buy signal with target level 1.3764, the target level is reached, upside movement continues, we are also observing current 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 1.4095 the first resistance level. If this level is passed the second target will be the second resistance level at 1.4201. Upside movement remains while the price is above the Kijun-sen (1.3890), 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, thus indicating current correction movement, therefore it is recommended to resume up trading after the MACD reverses to the upside.

Trading recommendations:
Currently it is recommended to trade up with target at 1.4095 and further to 1.4201. Stop Loss should be placed below 1.3890. Up trading should be resumed after the MACD reverses to the upside.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD wave analysis for March 8, 2011

Despite high volatility, the GBP/USD price has continued to form the 4th wave in the C (or the 3rd). At the same time correction level 50.0% calculated in relation to the 3rd wave dimension in the C (or the 3rd) was observed convincingly. Thus, current situation implies a possibility of the pound to resume growing in the direction of the 64 figure level. Simultaneously, given general market dynamics, the price can decline to the next correction level 61.8% (1.6150).

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Technical Analysis. Support And Resistance Levels For March 09/2011

TODAY TECHNICAL LEVEL :

Breakout Buy level : 1.3947.
Strong Resistance : 1.3938.
Original Resistance : 1.3925.
Inner Sell Area : 1.3912.
Target Inner Area : 1.3879.
Inner Buy Area : 1.3846.
Original Support : 1.3833.
Strong Support : 1.3820.
Breakout Sell level : 1.3811.
TODAY OUTLOOK :

The EUR/USD is now making a new downtrend channel, this is indicated by the lower peak level compared to a few recent highs. Today the pair is still in the Bearish situation and trading between Q2 and Q3 downtrend chanels. As long as the 1.3923 level cannot be broken out by this pair, the downside movement is still in advance. However, now the EUR/USD has been trading between 1.3875 and 1.3900. Please pay attention for the 1.3861 level because it is likely to be tested today as a 3-day low.
TODAY SUGGESTION :

BUY if this pair can break out and close above the 1.3900 level, set Take profit at 1.3910 as the first target and 1.3923 as the second target.

SELL if this pair can break out and close below the 1.3875 level, set Take profit at 1.3865 as the first target and 1.3850 as the second target.

Performed by Arief Makmur, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 9, 2011

On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, 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 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 10, 2011

The GBP/USD currency pair is demonstrating a slight correction after declining to 1.6126.
On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6345, 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 1.5960, where Fibonacci correction level 38.2 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6345 level. Since a break of this level will target the pair to 1.6457. 

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for March 10, 2011

After Monday-Tuesday decline, yesterday the EUR/USD currency pair was correcting to this downward section. Thus, the price is probably continuing to form the wave structure of a more continuous future movement. If so, yesterdays movement to the 1.3950 level was probably limited by the range of the 2nd wave, or b, of such correction. At the same time the MACD is demonstrating divergence to the uptrend initiated in early January.

Performed by Alexander Dneprovskiy, Analytical expert