Technical analysis on EU,GU and major pairs

[johny5]

The EUR/USD technical analysis and trading recommendations for March 31

The euro has not strengthened the sell signal, the price could not pass the Ichimoku Cloud, as a result we see a new buy signal without a target level. The formed sell signal is strong and not confirmed, since the Chinkou Span fixated below the price graph and the price is above the Ichimoku cloud. Thus, for up trading it is recommended to wait until the current signal is confirmed (the Chinkou Span fixates above the price graph). In this case the first target for the upside movement is 1.4206 the first resistance level. If this level is passed the second target will be the second resistance level at 1.4324. Downside movement remains while the price is above the Kijun-sen (1.4110), if the price fixates below this line it is recommended to cut long positions. The Chinkou Span is below the price graph, which does not confirm the current buy signal and indicates bullish sentiment. The Bollinger bands show the beginning of the upside movement, the lines are slightly 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 wait until the buy signal strengthens (the Chinkou Span fixates above the price graph) and trade up with target at 1.4206 and further to 1.4324. Stop Loss should be placed below 1.4110. If the MACD reverses down, it is recommended to cut long positions.

Performed by Stanislav Polyanskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis

The spot rates approaches the upper limit of its short-term bullish channel at 1.6150 suggesting a decline. However a break of these levels would allow it to begin a more violent bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6150 with a 1st objective of 1.6230, then 1.6260. A break in 1.6130 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis

The spot rate is currently testing the lower limit of its medium-term bullish channel at 1.6030 and seems to start a rebound. 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 1.6030 with a 1st objective of 1.6120, then 1.6160. A break in 1.6010 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Monthly Forecast for April 2011

If we look at monthly charts, the pair is making a "Bullish Penant" formation. As we know, this is a Continuation Pattern and if the spot currency hit the triangle trendlines for 3 times we should be prepared for some breakout of this triangle pattern; the RSI also gives us a clue for the "Double Bottom" pattern (red: the Reversal Pattern). So we expected a breakout of the Upper trendlines of the triangle pattern, if this level can be broken out the EUR/USD will test the next Resistance at 1.4353. On the other hand if the pair can break out below 1.4150, it is expected to go down and test the next Support at 1.4025; in monthly charts the pair will make a new label (4) after it hits the triangle pattern trendlines forthe fourth time.

Performed by Arief Makmur, Analytical expert

 

[johny5]

The spot rate is currently testing the intermediate resistance of its short-term bullish channel at 1.4270 suggesting a decline. However a break of these levels would reach the upper limit of its channel at 1.4350.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.4270 with a 1st objective of 1.4350, then 1.4380. A break in 1.4250 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for April 4, 2011

In a daily graph the GBP/USD is bouncing off after it failed to break the support level near 1.5960.
Earlier on a daily 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

 

[johny5]

EUR/USD candlestick analysis for April 5, 2011

EUR/USD pair is rolling back after it failed to test the 1.4278 resistance level. As mentioned before, a break of this level will target the pair to 1.4577. Earlier in the intraday chart EUR/USD shaped a Bullish Engulfing candlestick combination which is an explicit signal to growth.
Such a candlestick combination points to the growth of the pair for several weeks. However, there was a rollback registered at the 1.4035 level which was a good opportunity to start buying.
Further upside movement is supported by the fact that the uptrend remains.
The break of 1.4035 resistance level proves this viewpoint. Now we should expect an upside movement to 1.4278 resistance level.
It is worth mentioning that stop loss orders should be placed slightly below 1.4016 as a break of this level will denote that the uptrend is broken.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for April 5, 2011

In a daily graph the GBP/USD is rolling back after it failed to break the support level near 1.5960.
Earlier on a daily 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

 

[johny5]

EUR/USD wave analysis for April 6, 2011

Yesterday the EUR/USD could not develop the recent downside movement and went up from the reached low (1.4155) by almost a figure later in the day. At the same time current wave situation allows further development of the upside movement and forming a more complex inner wave structure of the 5th wave, in the 3rd. Simultaneously, the euro still might resume downside correction in the range of future continuous 4th wave.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for April 6, 2011

GBP/USD is rolling back after it failed to break the support level near 1.5960.
Earlier in a daily graph the GBP/USD formed a Three Black Crows candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had 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.
A 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