Technical analysis on EU,GU and major pairs

[johny5]

EUR/USD candlestick analysis for May 12, 2011

In a 4-hour graph the EUR/USD currency pair is still declining with a target at 1.4150.
Earlier the EUR/USD formed a In-Neck candlestick combination indicating further downside movement, confirmed further.
This candlestick combination shows that the pair dropped sharply after it could not fixate above the 1.4900 level, thus forming a Bullish Trap. Besides, the bears started to increase their influence at the break of the uptrend.
Downside movement is supported by the fact the EUR/USD broke the Fibonacci correction level 23.6, which allowed the pair to reach the support level 1.4150 where the Fibonacci correction level 38.2 is also located.
Moreover, in a 4-hour graph the pair formed a bearish candlestick combination Falling Three Methods, which strengthened the decline.
It is worth mentioning that stop loss orders should be placed slightly above 1.4600 as a break of this level will target the pair to 1.4755.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD technical overview for May 12, 2011

By this moment the pound has closely approached the support level of a daily graph. The Alligator has closed his mouth and stopped giving sell signals due to corrective consolidation of the price. The Awesome oscillator shows a reverse and the end of the downside movement. The moment the Awesome oscillator enters the positive zone will be a buy signal for us.

The most interesting picture is demonstrated by the MACD. First, we have a primary buy signal caused by the location of the histogram in relation to the signal moving (the moving is located below the histogram). But the divergence between the MACD and the price (yellow lines in the chart) is the most interesting factor. This divergence gives us a buy signal.

S&R levels:

Support - 1.6261

Resistance - 1.6517

Performed by Georgi Navrusbeckov, Analytical expert

 

[johny5]

EUR/USD candlestick analysis for May 13, 2011

In a 4-hour graph the EUR/USD currency pair has declined to the support level at 1.4150, to rebound up further.
Earlier the EUR/USD formed a In-Neck candlestick combination indicating further downside movement, confirmed further.
This candlestick combination shows that the pair dropped sharply after it could not fixate above the 1.4900 level, thus forming a Bullish Trap. Besides, the bears started to increase their influence at the break of the uptrend.
Downside movement is supported by the fact the EUR/USD broke the Fibonacci correction level 23.6, which allowed the pair to reach the support level 1.4150 where the Fibonacci correction level 38.2 is also located.
Moreover, in a 4-hour graph the pair formed a bearish candlestick combination Falling Three Methods, which strengthened the decline.
It is worth mentioning that stop loss orders should be placed slightly above 1.4600 as a break of this level will target the pair to 1.4755.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 13, 2011

The GBP/USD currency pair is demonstrating downside movement, but it is yet unable to break the Fibonacci 38.2 correction level. 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

 

[johny5]

GBP/USD. Weekly and Monthly Pivot Points, For May 16-20, 2011

_____WEEKLY____
Weekly - R3 = 1.6797
Weekly - R2 = 1.1657
Weekly - R1 = 1.6426
Weekly Pivot = 1.6286
Weekly - S1 = 1.6055
Weekly - S2 = 1.5915
Weekly - S3 = 1.5684

_____MONTHLY____
Monthly - R3 = 1.7749
Monthly - R2 = 1.7247
Monthly - R1 = 1.6977
Monthly Pivot = 1.6475
Monthly - S1 = 1.6205
Monthly - S2 = 1.5703
Monthly - S3 = 1.5433

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

EUR/USD. Weekly and Monthly Pivot Points, For May 16-20, 2011

____WEEKLY_____
Weekly - R3 = 1.4725
Weekly - R2 = 1.4583
Weekly - R1 = 1.4350
Weekly Pivot = 1.4208
Weekly - S1 = 1.3975
Weekly - S2 = 1.3833
Weekly - S3 = 1.3600

_____MONTHLY______
Monthly - R3 = 1.5921
Monthly - R2 = 1.5401
Monthly - R1 = 1.5104
Monthly Pivot = 1.4584
Monthly - S1 = 1.4287
Monthly - S2 = 1.3767
Monthly - S3 = 1.3470

Performed by Gerardo Porras Palomino, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 17, 2011

The GBP/USD currency pair cannot break the support level at 1.6164. 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. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6517 level as a break of this resistance will target the pair to 1.6750.

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD wave analysis for May 17, 2011

Despite the fact that yesterday the EUR/USD currency pair could not continue the downside movement and moved two figures away from the reached lows, the whole estimated 3rd wave (or C) does not look complete at the moment. If so, the price should form the 5th wave in this 3rd (or C). At the same time, a possible target of such decline might be the correction level 61.8% that coincides with the 40 figure level.

Performed by Alexander Dneprovskiy, Analytical expert

 

[johny5]

GBP/USD candlestick analysis for May 18, 2011

The GBP/USD currency pair has rolled back after it could not break the support level at 1.6164. Nevertheless, the viewpoint at the pair is still bearish.
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. Its break will allow it to reach the support level 1.5932, where the Fibonacci 61.8 correction level is also located. At the same time, break of the 1.6300 level will probably cause a slight consolidation.
It is worth mentioning that stop orders should be placed slightly above the 1.6517 level as a break of this resistance will target the pair to 1.6750

Performed by Vladimir Donin, Analytical expert

 

[johny5]

EUR/USD Technical Support and Resistance Level For May 17th / 2011

Today the EUR/USD is to find Support and Resistance between 1.4217 and 1.4313 and it has a strong Support at 1.4203 and a strong Resistance at 1.4326; if today the EUR/USD can break out and close below 1.4194, it will be a sign for Short trading for today; on the other hand, if the pair can break out and close above 1.4335, it will be the sign for LONG trading for today. Another option for an advanced trader can be trading between the Inner Buy Level at the 1.4231 for LONG trading and the Inner Sell Level at the 1.4299 for the SHORT trading, and all of them with the target at the 1.4265 level.

Performed by Arief Makmur, Analytical expert