Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD candlestick analysis for April 26, 2011

The GBP/USD currency pair is still in the downside movement.
Earlier in a 4-hour graph the GBP/USD formed a Bearish Engulfing candlestick combination, which indicates a downside movement.
This candlestick combination formed after the pair had failed to break the resistance level near 1.6600, which means that the bulls could not solidify here. Further the bears started to increase their influence.
A break of the Fibonacci correction level 23.6 will prove this viewpoint. In this case downside movement to 1.6164, 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 1.6600 level, since a break of this level will target the pair to 1.6750.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for April 26, 2011

During yesterdays trading the EUR/USD moved further in the range, which however was wider than on Friday. At the same time we might suppose the price formed a quite complex b wave in a more continuous 2nd wave (in the 5th) of the whole uptrend section initiated in the middle of December. If so, in the range of the wave in this 2nd the euro still might decline to the correction level 38.2% or even 50.0% (1.4400)

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-04-27

The spot rate approaches the upper limit of its medium-term bearish channel at 1.6530 suggesting a decline. However a break of these levels would free up significant potential and begin a bullish trend.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6530 with a 1st objective of 1.6620, then 1.6650. A break in 1.6510 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD wave analysis for April 27, 2011

After another test of the correction level 23.6% the EUR/USD made an attempt to resume upside movement. At the same time, passing the resistance at 1.4650 took most of the day. Nevertheless, at the moment we can suppose that the price started froming the 3rd wave (in the 5th). If so, given the limits of the channel where the current uptrend is developing, the closest target for this 3rd wave might be located between levels of the 47 and the 48 figures.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-04-29

The spot rates approaches the upper limit of its medium-term bullish channel to 1.6800 suggesting a decline. However a break of these levels would initiate a more violent bullish trend.

According to previous events, the market indicates a bearish opportunity on the levels of 1.6800 with a 1st objective of 1.6690, then 1.6650. A break in 1.6830 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD Daily Forecast For April 29 / 2011

The EUR/USD is now trading between the Upper Bollinger Bands periode 20 Dviation 2 and the periode 20 Deviation. 1 (the blue lines), and the RSI (14) is still above the 60 levels, and the ADX(14) above the 25 level. All these things denote that the EUR/USD has a Healthy Bullish Trend for a few days. However we have two scenarios after the Royal Weeding of the prince William and Kate Middleton today :

First Scenario :

The EUR/USD will advance the Bullish movement and will test yesterday high at the 1.4881, if it can break it, this pair will test again the mark 1.4900.

Second Scenario :

The EUR/USD break the today's low at the 1.4803, if this level can be broken out it will make this pair test the next Support at the yesterday low at the 1.4768.

Performed by Arief Makmur, Analytical expert

 

[johny5]

GBP/USD Intraday Technical analysis 2011-05-03

The spot rate is currently testing the lower limit of its medium-term bearish channel at 1.6590 suggesting a rebound in the short term. However a break of these levels would initiate a bearish trend more violent.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6590 with a 1st objective of 1.6670, then 1.6720. A break in 1.6570 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for May 3, 2011

In a daily graph the EUR/USD pair met a strong resistance near the 1.4900 level. Nevertheless, after a slight pause we should expect further growth. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
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 1.4349 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 2011-05-04

The spot rate approaches the lower limit of its medium-term bullish channel to 1.6430 suggesting a rebound on these levels. However a break of this zone would free a large downside potential and initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.6430 with a 1st objective of 1.6580, then 1.6620. A break in 1.6400 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for May 4, 2011

In a daily graph the EUR/USD pair met a strong resistance near the 1.4900 level. Nevertheless, after a slight pause we should expect further growth. As mentioned earlier, break of the resistance level 1.4800 targeted the pair to 1.5150, which is November 2009 high.
On the other hand, if the 1.4750 support level is broken, we should expect a slight correction.
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 1.4349 as a break of this level will denote that the uptrend is broken.

Performed by Vladimir Donin, Analytical expert