Technical analysis on EU,GU and major pairs

[johny5]

GBP/USD Intraday Technical analysis 2011-05-05

The spot rate has rebounded on the lower limit of its medium-term bullish channe at 1.6450 and is currently testing the intermediate resistance of its channel at 1.6590. A break of these levels would reach the upper limit of its medium-term bearish channel to 1.6740.

According to previous events, the market indicates a bullish opportunity as soon as the spot rate will have broken its resistance in 1.6590 with a 1st objective of 1.6690, then 1.6740. A break in 1.6560 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for May 5, 2011

In a daily graph the EUR/USD pair cannot fixate above 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.
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]

EUR/USD candlestick analysis for May 6, 2011

In a daily graph the EUR/USD is demonstrating a correction after the pair could not fixate above the 1.4900 level. Nevertheless, the uptrend is still in advance. 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.
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 wave analysis for May 6, 2011

Yesterdays GBP/USD trading confirmed our expectations of a more complicated inner wave structure of the downside movement initiated May 1 to be formed. At the same time, given the fact that the decline of the pound is limited by the 5-wave structure, its targets may be located near yesterdays low or even lower, near the 1.6255 level. If so, the price might complete the 1st wave (or A) near the above mentioned levels and start a rollback to the upside in the direction of the 65 figure.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Intraday Technical analysis 2011-05-09

The spot rate approaches the lower limit of its medium-term bullish channel to 1.4260 suggesting a rebound on these levels. However a break of this zone would initiate a new trend.

According to previous events, the market indicates a bullish opportunity on the levels of 1.4260 with a 1st objective of 1.4370, then 1.4400. A break in 1.4230 would invalidate this scenario.

Performed by Albert Fitoussi, Analytical expert

 

[johny5]

GBP/USD wave analysis. Week review.

During the whole previous week the GBP/USD currency pair was declining from the 1.6750 level. At the same time, the downfall of the price by 400 pips allows a possibility that the uptrend section formed March 28 - May 2 is completed. In the meantime, it is worth mentioning that the inner wave structure of the 3rd wave (or C) looks quite insecure. Therefore, this uncertainty of the wave structure may mean further development in the form of a continuous triangular structure with its base formed last December. Nevertheless, we can yet expect further downside correction in the direction of the 62 figure level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

EUR/USD Daily Outlook For May 10th / 2011 2011-05-10

The EUR/USD has traded below the 5 days and the 20 days periode Simple Moving Avarage, however the pair traded above the 60 days periode Simple Moving Avarage and the MACD traded at the Speculative Sell Area (the Death Cross above 0 level). At now the pair wants to test the previous Low at the 1.4254 , if this level can be broken it will cause the pair to test the next target at the 1.4153; on the other hand, if today the EUR/USD can break out the 1.4427 level, it will lead this pair to going up to the next target at the 1.4535.

Performed by Arief Makmur, Analytical expert

 

[johny5]

Gbpusd 10 2011-05-10

Downside movement might be over during today or tomorrow trading day. Oscillators indicate extremely overbought prices. As a support we can take a quite strong level 1.6280 that coincides with the support level of the daily price channel and the Fibonacci correction level 61.8. Thus, we might expect a rebound today. We can only be sure about a reverse of the price in the bullish direction after the resistance level of the local price channel is broken.

Performed by Georgi Navrusbeckov, Analytical expert

 

[johny5]

EUR/USD Daily Outlook For May 11st / 2011

It seems the EUR/USD will enter a sideways situation, this is indicated by the following facts :

(1) 5 Days periode Simple Moving Avarage (Red) is now in the middle of two other Moving Avarage (between the 20 Days -Blue and the 60 Days - Green).

(2) The May 9th / 2011 Daily Bar formed as the "Measuring Bar" for the next day bar including this day.

If until next Friday the EUR/USD closing price at the Daily charts is still between the range of those "Measuring Bars" (between 1.4254 to the 1.4441 levels) it will cause this pair to enter the Sideways situation. For today this pair is likely to test the support target at 1.4350, on the other hand, if the pair can break out the opening level at 1.4404; it will make the pair test the 3 days high level at 1.4441; however the downside momentum seems stronger, this is indicated by by MACD in the "Positive Sell" area (red: death cross below the 0 level).

Performed by Arief Makmur, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 11, 2011

The GBP/USD currency pair has declined slightly after it broke the resistance level near 1.6420-1.6430. Earlier in a daily graph the GBP/USD formed a Dark Cloud Cover candlestick combination indicating a bearish signal.
This candlestick was formed after the pair failed to break the resistance level near 1.6750, which means that the bulls could not solidify here and the bears started to increase their influence.
The break of 1 the Fibonacci 23.6 correction level proves this viewpoint. Now we should expect downside movement with a target at 0.6164 where the Fibonacci 38.2 correction level is also located.
It is worth mentioning that stop orders should be placed slightly above the 1.6750 level as a break of this resistance will target the pair to 1.6877.

Performed by Vladimir Donin, Analytical expert