Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD wave analysis for March 21, 2011

Despite the growth of the GBP/USD to the 1.6250 level, general wave situation is still uncertain. At the same time, all price changes since March 11 are now looking like a series of abc waves of a more continuous correction structure that might obtain a shape of an ascending triangle. If so, the pound has a chance to continue the downside correction in correlation with the uptrend section formed between December 28 and March 2.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for March 21, 2011

Earlier on a daily graph the EUR/USD pair formed a Bullish Engulfing candlestick combination indicating upside movement.
This combination shows that the pair was advancing during several weeks. However, a rollback took place near the 1.4035 level, which provided another buy opportunity.
Further upside movement is supported by the fact that the uptrend remains.
Break of the resistance level 1.4035 proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for March 22, 2011

The euro is continuing the upside movement, the Bollinger bands are diverging up, which strengthened the new buy signal with target level 1.4220. 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 1.4295 the first resistance level. If this level is passed the second target will be the second resistance level at 1.4405. Upside movement remains while the price is above the Kijun-sen (1.4055), 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 continuation of the upside movement, the lines are diverging and directed up. The MACD is ascending, thus indicating current upside movement, if it reverses down this will denote the beginning of a correction movement.

Trading recommendations:
Currently it is recommended to trade up with target at 1.4295 and further to 1.4405. Stop Loss should be placed below 1.4055. If the MACD reverses down, it is recommended to cut long positions.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD Bullish Outlook, March 22, 2011 (Daily Strategy)

The British Pound - United States dollar pair executed today a sharp rise , reaching a record high of 1.6400, a close in 4 hour candles below the 1.6340 level is a signal for an immediate entry into a sale agreement with a target to weekly pivot or even touch the uptrend line around 1.6150 level, at this level we expect the pair becomes bullish again, depending on If the pair is consolidating at this level and the daily trend line has not been drilled, we can take a long position with two realization Goals, the first at 1.6430 and the second at 1.6610 United States dollars for one British pound.

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for March 23, 2011

The EUR/USD currency pair has declined slightly after a break of a psychologically relevant level 1.4200. Earlier on a daily graph the EUR/USD pair formed a Bullish Engulfing candlestick combination, indicating upside movement.
This combination shows that the pair was advancing during several weeks. However, a rollback took place near the 1.4035 level, which provided another buy opportunity.
Further upside movement is supported by the fact that the uptrend remains.
Break of the resistance level 1.4035 proves this viewpoint. Now we should expect upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss should be placed slightly below 1.3850 as a break of this level will denote that the uptrend is broken.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD wave analysis for March 23, 2011

Yesterday the GBP/USD currency pair continued to advance in favour of the British currency and tested the 64 figure level early in the day. Thus, the price is likely to form a complex wave structure of the 3rd wave, in the 5th, of the whole uptrend initiated in late December. At the same time, the fact that the estimated target level 1.6370is passed and incomplete wave situation allow a possibility of growth in the range of this 3rd wave to the next target level 1.6440.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis

The spot rate approaches the lower limit of its medium-term bullish channel at 1.6010 suggesting a rebound on this area. However a break of these levels would release a large downside potential and would initiate a bearish trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6010 with a 1st objective of 1.6140, then 1.6190. A break in 1.5980 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for March 25, 2011

As expected, the EUR/USD price declined to correction level 50.0% and made an attempt to resume upside movement in the direction of early highs. Thus, yesterdays testing of the 1.4060 level has probably indicated the completion of the 4th wave, in the 3rd (in the 3rd, or C). If so, the development of the 5th wave in this 3rd will be directed to the first target level 1.4260.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

The EUR/USD technical analysis and trading recommendations for March 30, 2011

The euro is still observing the downside movement and a sell signal, the price is still inside the Ichimoku Cloud, which does not allow us to trade either up or down. The formed sell signal is weak and confirmed, since the Chinkou Span fixated below the price graph and the price is inside the Ichimoku cloud. Thus, at the moment the first target for the downside movement is 1.3932 the second support level. If this level is passed the second target will be the third support level at 1.3814. Downside movement remains while the price is below the Kijun-sen (1.4120), if the price fixates above this line it is recommended to cut short positions. The Chinkou Span is below the price graph, which confirms the current sell signal and indicates bearish sentiment. The Bollinger bands show downside movement, the lines are slightly narrowing and directed down. The MACD is descending, thus indicating current downside movement, if it reverses up this will denote the beginning of a correction movement.

Trading recommendations:
Currently it is recommended to wait until the sell signal strengthens (the price fixates below the Ichimoku Cloud) and trade down with target at 1.3932 and further to 1.3814. Stop Loss should be placed below 1.4120. If the MACD reverses up, it is recommended to cut short positions.


Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for March 30, 2011

At the moment the GBP/USD is testing the support level near 1.5960.
Earlier on a 4-hour graph the GBP/USD has formed a Three Black Crows candlestick combination, which indicates downside movement.
This candlestick combination has formed after the pair failed to break the resistance level near 1.6400, which means that the bulls could not solidify here. Further the bears started to increase their influence.
Break of the support level 1.5960 will prove this viewpoint. In this case downside movement to 1.5750, where Fibonacci correction level 61.8 is also located, should be expected.
It is worth mentioning that stop loss should be placed slightly above the 1.6400 level. Since a break of this level will target the pair to 1.6450.

Performed by Vladimir Donin, Analytical expert