Technical analysis on EU,GU and major pairs

[johny5]

EUR/USD Weekly Forecast April 18th - APRIL 22nd / 2011

The EUR/USD is still trading above the 10 weeks periode moving avarage, and the slope of the moving avarage is still pointing to the upside, it means the trend bias of the pair in weekly charts is still in a Bullish situation, however the closing candle of the last week closed below the opening weekly bar, but still in the body of the previous week, so we categorized the downside movement as a small retracement. However please pay attention to the 1.4370 and the previous low weekly candle at the 1.4362 level, because we predict that this week this level has a potential to be tested by the EUR/USD, if this level can be passed and broken out, the EUR/USD will have a potential to go down to the Fibonacci Support 38.2% at the 1.4327 as the first target and the Fibonacci Support 50% at the 1.4268. However if the 1.4490 can be broken and passed by this pair, this week the EUR/USD will test the 1.4519 level.

Performed by Arief Makmur, Analytical expert

 

[johny5]

GBP/USD wave analysis. Week review. 2011-04-18

After another testing of the 64 figure level the GBP/USD started to form the wave structure of the estimated 2nd wave in the future 3rd (or C). If so, the 2nd wave does not look complete at the moment, which allows a possibility of a decline to the 1.6175 level or lower. At the same time, general dollar situation extremely overbought indicators require being careful when keeping long positions.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for April 19, 2011

EUR/USD pair is rolling back after it could not break the resistance level 1.4520.
Nevertheless, it is still trading in an uptrend after it has successfully broken 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 upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 as a break of this level will denote that the uptrend is broken. 

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD wave analysis. Week review. 2011-04-18

After another testing of the 64 figure level the GBP/USD started to form the wave structure of the estimated 2nd wave in the future 3rd (or C). If so, the 2nd wave does not look complete at the moment, which allows a possibility of a decline to the 1.6175 level or lower. At the same time, general dollar situation extremely overbought indicators require being careful when keeping long positions.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-04-20

The spot rate approaches the upper limit of its medium-term bearish channel to 1.6360 suggesting a decline. However a break of these levels would free up significant potential and begin a rising trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6360 with a 1st objective of 1.6430, then 1.6470. A break in 1.6340 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for April 20, 2011

EUR/USD pair is trading up with a target to test the resistance level 1.4520 after a rollback.
It is still trading in an uptrend after it has successfully broken 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 upside movement to the resistance level 1.4278.
It is worth mentioning that stop loss orders should be placed slightly below 1.4100 as a break of this level will denote that the uptrend is broken. 

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-04-21

The spot rate approaches the upper limit of its medium-term bullish channel to 1.6460 suggesting a decline. However a break of these levels would free up significant potential and begin a bullish trend more violent.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6460 with a 1st objective of 1.6570, then 1.6600. A break in 1.6430 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for April 21, 2011

Yesterday the EUR/USD currency pair was trading dynamically in favour of the European currency, which in its turn allowed the price to test the 45 figure level. At the same time, the 3rd wave of this new uptrend section became quite prolonged in relation to its 1st wave. Given this, we might suppose that the euro can continue growth in the direction of the estimated target level located near the 1.4620 level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD wave analysis for April 22, 2011

During yesterdays trading the GBP/USD continued a quite dynamic upside movement and tested the 1.6590 level later in the day. Therefore, the 1st wave in the future 3rd in general looks complete, and the decline indicated by the end of the trading is probably the beginning of the 2nd wave in this estimated 3rd. At the same time, given the current dynamics, the pound price is still able to form the 5th wave, in the 1st (in the 3rd) with a more complex inner structure.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

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

Overview:
The euro is still in upside movement and observing the buy signal with target level 1.4826, we should also mention a slight 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 1.4668 the third resistance level, as the previous two were passed. If this level is passed the second target will be the resistance level of the bigger timeframe at 1.4852. Upside movement remains while the price is above the Kijun-sen (1.4400), 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, which indicates current correction movement, therefore it is recommended to resume upside trading after it reverses back to the upside.


Trading recommendations:
Currently it is recommended to trade up with target at 1.4668 and further to 1.4852. Stop Loss should be placed below 1.4400 and stretch it up as the Kijun-sen advances. Open long positions after the MACD reverses back to the upside.

Performed by Stanislav Polyanskiy, Analytical expert