Technical analysis on EU,GU and major pairs

[johny5]

EUR/USD wave analysis for March 11, 2011

Yesterday the EUR/USD pair continues its downside movement, having declined more than 130 pips during the trading. At the same time, the decline slowed down near a quite strong support level 1.3780, which corresponds with 50% correction in relation to the upwards section of the trend, formed February 14- March 7. Besides, as we can see on the graph, this is where we find a parity of the 1st wave (a) and the 3rd (or c) of the current assumed correction. Thus, we can conclude that even if the price is not starting do grow again, it must at least slow down its declining.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 11, 2011

The GBP/USD currency pair is declining further after a slight pullback.
On a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
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 14, 2011

An attempt to overcome the correction level 50.0% and the news from Japan have thrown the EUR/USD currency pair up by 1.5 figures to the 39 figure level. As a result of this, the whole March 7-11 decline looks now like a correction structure abc, thus assuming upside movement with the price reaching early highs (1.4035) and forming a new continuous uptrend section. At the same time, given the information from Japan, it is difficult to predict the situation on the market in such conditions.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 14, 2011

The GBP/USD currency pair is demonstrating a slight correction after a decline to 1.5980.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
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 16, 2011

High volatility on the currency markets resulted in the EUR/USD currency pair forming a quite complex inner structure of the 2nd wave in the 3rd (in the 3rd). At the same time, later in the day the price managed to resume upside movement, supposedly in the range of the future 3rd wave (in the 3rd). If so, in spite of certain overbought indicators, the euro might resume growth in the direction of the 41 figure levels.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 16, 2011

The GBP/USD currency pair failed again to break the support level 1.5980, to rebound up further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
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 1.6200 level. Since a break of this level will target the pair to 1.6345.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-03-17

The spot rate approaches the upper limit of its medium-term bearish channel to 1.4010. 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 1.4010 with a 1st objective of 1.4080, then 1.4150. A break in 1.3990 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 17, 2011

The GBP/USD currency pair failed again to break the support level 1.5980, to rebound up further. Nevertheless, the viewpoint at the pair is still bearish.
Earlier on a 4-hour graph the GBP/USD has formed a Dark Cloud Cover candlestick combination, which indicates bearish movement, confirmed further.
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 1.6200 level. Since a break of this level will target the pair to 1.6345.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD wave analysis for March 18, 2011

Yesterdays GBP/USD growth by almost 200 pips added certain doubts to the continuation of downside movement in the range of the correction initiated in early March. At the same time, given the complicated general situation on the currency markets we cannot deny the possibility of the c wave of this correction to have formed in a shortened shape. Simultaneously, this uncertainty can help the b wave become more complex and prolonged.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Bearish Outlook, March 18, 2011 (Daily Strategy)

The Euro United States dollar pair strengthens, reaching to its highest level at 1.4146 arriving according to monthly pivot table to around the second resistance level 1.4133.

Therefore, if the pair continues its upward force would meet strong resistance at 1.4180 levels could a clear opportunity to take short positions, which would lead us to the low level around your daily trendline at 1.3970.


Performed by Gerardo Porras Palomino, Analytical expert